Warning: Beware of Clone Firm Scam
The Financial Conduct Authority (FCA) is issuing a public warning about a clone firm operating under the guise of an FCA-authorised entity.
This firm, known as Spot Pro Markets / spotpromarkets.com, has been contacting individuals, misleading them by pretending to be a legitimate, authorised firm.
This type of operation is what the FCA refers to as a “clone firm.”
Clone Firm Details
Individuals should be aware of the following fraudulent details being used by the scammers:
- Name: Spot Pro Markets / spotpromarkets.com (clone of FCA Authorised Firm)
- Website: spotpromarkets.com
- Address: 124 City Road, London, UNITED KINGDOM, EC1V 2NX
- Email: support@spotpromarkets.com, service@spotpromarkets.com
Scammers may use additional false details and may change their contact information over time to avoid detection.
Risks of Dealing with Clone Firms
If you engage with this clone firm, you will not be covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).
This absence of protection means that it’s highly unlikely you will recover your funds if the firm fails.
How to Protect Yourself
To safeguard your interests, only interact with financial firms that are officially authorised by the FCA. Verify the authorisation status of any firm by consulting the FCA’s Financial Services Register.
This check can provide you with essential protection details and legitimate contact information for authorised firms.
If contacted unexpectedly by a financial business, always double-check their identity using the contact details on the official Financial Services Register.
Report Suspicious Activities
Should you suspect you’ve been approached by an unauthorised or clone firm, immediately contact the FCA at 0800 111 6768 or use the online contact form provided on their website.
Remember, staying vigilant and informed is your first line of defense against financial scams.
For more details, visit the official warning page on the FCA’s website
