Urgent Alert: Beware of Clone Firm Impersonating Authorized Financial Service
In a concerning trend, unauthorized entities known as “clone firms” are mimicking legitimate financial firms to mislead and exploit consumers.
Recently, an entity operating under the name LumineTrade/Lumine Trade has been falsely presenting itself as a clone of an FCA Authorized Representative.
We have already reviewed this company, so for more details, LumineTrade Review.
Clone Firm Details
Fraudsters are using sophisticated tactics to deceive individuals. Here are the details known about the clone firm:
- Name: LumineTrade/ Lumine Trade (Clone of FCA Appointed Representative)
- Website: www.lumine-ltd.com, www.lumine-trd.com, www.luminetrade.com, webtrader.luminetrd-ltd.com, mobtrader.luminetrd-ltd.com, www.lumine-ltd.net, www.lumitrade.net
- Address: 10 Finsbury Square, London, UNITED KINGDOM, EC2A 1AF; Dashwood, 69 Old Broad Street, London, EC2A 1QS
- Phone: +61251108353, +442034359251, +14388047756
- Email: leonard.r@lumine-trd.com, support@lumine-trd.com, friya.carmani@lumine-trd.com, nicholas.h@lumine-trd.com, mateo.martino@luminetrade.com, nikos.papadopoulos@lumitrade.com
It’s essential to note that these details are often mixed with legitimate information from authorized firms, or changed frequently to avoid detection.
Genuine Firm Details
The genuine firm that these fraudsters are impersonating is CoinShares Capital Markets (UK) Limited, which is fully authorized with the FCA.
The correct details are:
- Firm Name: CoinShares Capital Markets (UK) Limited
- Firm Reference Number: 828561
- Address: 1st Floor, Scottish Provident Building, 3 Lombard Street, London, City Of London, EC3V 9AQ, UNITED KINGDOM
- Telephone: +4401534513165
- Email: compliance@coinshares.com
Risks of Dealing with Clone Firms
Dealing with unauthorized firms like LumineTrade means you will not be protected by the Financial Services Compensation Scheme (FSCS) or have access to the Financial Ombudsman Service for dispute resolution.
This could result in a total loss of funds with no recourse for recovery.
How to Protect Yourself
- Always verify the firm’s details on the Financial Services Register at https://register.fca.org.uk/.
- Ensure any firm you engage with is authorized by the FCA.
- Avoid using contact details provided in unsolicited communications.
- Report any suspicious contact to the FCA immediately.
Report a Clone Firm
If you suspect you’ve been approached by a clone firm, please contact the FCA at 0800 111 6768, or use the contact form on their website.
Remember, vigilance is your first line of defense against financial scams. Always verify before you trust.
For more details, visit the official warning page on the FCA’s website
