Beware of Clone Firm Scam: TIO PreMarkets
The Financial Conduct Authority (FCA) is issuing a warning to the public about a clone firm, TIO PreMarkets, which is impersonating an authorised FCA firm to potentially scam people.
This clone firm is not authorised by the FCA and has been contacting people, pretending to be the legitimate and authorised firm, TIO Markets UK Limited.
Clone Firm Details: Stay Alert
Fraudsters are using the following details to scam people:
- Name: TIO PreMarkets / tiopremarkets.com (Clone of FCA Authorised Firm)
- Website: https://www.tiopremarkets.com/
- Email: support@tiopremarkets.com
These scammers may also use other false details, or even mix these details with those of the genuine firm.
Be aware that their contact details could change over time to evade detection.
Risks of Dealing with Clone Firms
If you deal with this clone firm, you will not be covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) in the UK.
This means if you have a complaint or if the firm fails, it is highly unlikely that you could recover any lost funds.
How to Protect Yourself
Always verify the authenticity of any firm that contacts you by checking the FCA’s Financial Services Register.
Ensure that you use the contact details listed on the register to communicate with the firm.
Be cautious of unsolicited communications and offers, especially those that seem too good to be true.
If you suspect you have been approached by an unauthorised or clone firm, you should report it immediately to the FCA by calling 0800 111 6768 or using their online contact form.
Report a Clone Firm
Help us stop these fraudsters in their tracks.
If you think you’ve been approached by TIO PreMarkets or another clone firm, please report it to the FCA.
Stay vigilant against financial scams and protect your assets by dealing only with authorised firms.
For more details, visit the official warning page on the FCA’s website
