Source review: Official FCA, CFTC, NFA and SEC investor-protection sources were checked on 10 August 2026. Recheck the relevant official register before opening or funding an account.
Quick answer: A clone forex broker copies the identity of a genuine regulated firm but changes one or more details—usually the website, email, phone number, social-media account or payment instructions. Do not trust a licence number by itself. Find the firm independently on the regulator\’s official register and match every contact detail before you communicate, upload documents or send money.
A polished website, a familiar logo and a real registration number can all be copied. The question is not only “Does this firm exist?” but “Am I communicating with the genuine firm listed by the regulator?”
What is a clone forex broker?
A clone firm is an unauthorised operation that impersonates a genuine authorised business or professional. The FCA says clone firms may copy a real firm\’s name, address or Firm Reference Number, reproduce its website, or mix genuine information with fraudulent contact details. The SEC also warns that impersonators may copy real firm logos, link to genuine websites and use the names of actual professionals.
The authorised firm whose identity is copied may have no connection to the scam. A successful register search therefore does not prove that the person, website or payment account contacting you belongs to that firm.
1. Open the regulator\’s register independently
Type the regulator\’s address yourself or reach it through the regulator\’s official main website. Do not use a “verification” link supplied in an unsolicited email, message, advertisement or group chat. A fraudulent page can be designed to resemble a public register.
For a UK firm, use the FCA Firm Checker or Financial Services Register. For a US retail forex firm or professional, review CFTC registration and NFA membership through NFA BASIC. In other countries, use the register of the regulator responsible for the exact legal entity that would hold your account.
2. Identify the exact legal entity
Use our legal-entity verification guide to separate the marketing brand from the company named in the account agreement.
A broker brand can operate through several companies. Copy the contracting entity from the account-opening page, client agreement or terms—not just the marketing brand. Match the full legal name, registration number, registered address and permitted services.
If you are unsure how to perform the complete regulatory check, follow our step-by-step broker regulation verification guide first.
3. Match the website domain character by character
Compare the website shown on the official register with the site you are using. Check for:
- missing, repeated or substituted letters;
- extra hyphens or words such as “global”, “secure” or “trading”;
- a different top-level domain, such as .com instead of .co.uk;
- a login or deposit page hosted on an unrelated domain;
- a subdomain that places a genuine-looking name before an unrelated main domain.
HTTPS and a padlock only indicate that the connection is encrypted. They do not establish who operates the site or whether the operator is regulated. Domain-registration information can provide an additional clue when a site claims a long history but the domain appears new, although domain age alone is not proof of legitimacy or fraud.
4. Verify phone numbers, email and address
Compare the phone number, email domain and physical address with the regulator\’s record. The FCA specifically warns that a clone may use the genuine firm\’s name and reference number while substituting a different phone number or email address.
Contact the firm using information obtained from the official register or the firm\’s verified regulatory filing—not information supplied by the person who approached you. Be cautious if support uses only a free email service or messaging app, or claims the official register details are outdated.
5. Verify the person, not only the company
An impersonator may use the name and photograph of a real employee. Where the regulator provides individual records, confirm that the person is associated with the firm and authorised for the relevant role. For US securities professionals, Investor.gov explains how to locate the firm\’s genuine Form CRS and use its contact information. For US derivatives professionals, NFA recommends checking the firm and the principals listed in BASIC.
Then contact the firm through a verified channel and ask it to confirm the person and the communication you received.
6. Inspect how contact began
Unexpected approaches through social media, messaging apps, email, text messages or group chats deserve extra caution. A clone may first build trust, share apparently successful trades, or move the conversation away from a regulated firm\’s normal support channel.
Pause if you are pressured to act immediately, promised guaranteed or risk-free returns, discouraged from seeking a second opinion, or told that the opportunity is available only through a particular representative.
7. Check the payment recipient before sending money
The beneficiary name and payment destination should make sense for the verified legal entity and the account documents. Stop if you are asked to pay an individual, an unrelated company, a newly supplied wallet, or a different recipient described only through chat.
For a wider pre-deposit review, see how to verify client-money protection and the payment recipient using dated evidence from official sources.
Never send more money to “unlock” a withdrawal, pay an unexpected tax, or recover earlier losses without independently verifying the demand. The CFTC warns that recovery fraudsters may impersonate officials, lawyers or recovery businesses and request an upfront payment. Review our forex broker withdrawal red flags before funding an account or responding to a blocked payout.
8. Search official warning and disciplinary records
Search the regulator\’s warning list using the brand, legal entity, website domain, email address and phone number. Also review the genuine firm\’s status, permissions, restrictions and disciplinary information. NFA BASIC includes registration and disciplinary information for firms and industry professionals in the US derivatives sector.
Not appearing on a warning list is not an approval. Fraudulent domains and contact details can change faster than public warnings are published.
9. Save an evidence record
Before depositing, save:
- the official register URL and date checked;
- the legal entity, registration number, status and permissions;
- the authorised website, phone number and email domain;
- screenshots of the offer and all contact details;
- the warning-list search result;
- the client agreement and payment instructions.
If any detail conflicts, do not upload identity documents or deposit while the discrepancy remains unresolved.
Clone broker warning signs at a glance
- A real licence number paired with a different domain or phone number
- A copied logo or staff profile used on an unverified social-media account
- Support available only through a messaging app
- Pressure, secrecy or guaranteed-return claims
- Payment to an individual, unrelated company or unexplained wallet
- A request for additional money to release funds or recover losses
- A claim that the regulator\’s published contact details are wrong
What to do if you may have contacted a clone
Stop communicating and do not send additional money or identity documents. Preserve messages, transaction records, wallet addresses, bank details, screenshots and website URLs. Contact your bank or payment provider promptly and report the incident to the relevant financial regulator and law-enforcement or fraud-reporting service in your country.
Use contact details obtained independently from official government or regulator websites. Be alert for follow-up recovery scams that promise to retrieve funds for an upfront fee.
What FXPEDIA360 verification means
FXPEDIA360 uses “verified” only to mean that stated evidence checks were completed using the listed sources on the stated date. It is not a guarantee that a broker is safe, suitable, profitable or free from future problems. Affiliate relationships must not change the verification method or result.
Primary sources
- FCA: Clone firms and individuals
- FCA: How to check a firm or individual is authorised
- CFTC: Forex frauds
- CFTC: Check registration and backgrounds before you trade
- NFA: Investor FAQs and BASIC background checks
- Investor.gov: Impersonation schemes
Explore more evidence-led guidance in Broker Safety.
For a broader comparison of account entities, retail safeguards and complaint routes, read our regulated vs offshore forex brokers guide.
This article is for general education only and does not provide financial, investment, legal or tax advice.
Clone-check evidence table
| Evidence to record | Where to verify it | Why it matters |
|---|---|---|
| Domain and contact details | Regulator warning and official firm record | Clone sites often substitute a URL, phone number or email |
| Legal name and licence number | Official register | A copied licence number does not prove the website is connected to the firm |
| Payment beneficiary | Deposit instructions and bank or payment record | A mismatch can reveal an unverified recipient |
Use the free Broker Entity Lookup
Enter the broker and your country to open the dated regional company, regulator, licence and source record available in our database. Check the broker’s legal entity record →