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INVESTORS BE AWARE

CLONED FIRMS AND INDIVIDUALS

The following are extracts from the FCA:
  • Fraudsters always look for new ways to scam consumers. Scammers pretend to be from firms authorised by the FCA.
  • These scammers typically cold-call investors to promote various investment opportunities that are either non-tradable or simply do not exist.
  • Fraudsters use the name and identity of an authorised and regulated firm such as ours to suggest they are genuine. This is what is known as a ‘Cloned Firm’. 

HOW IT WORKS

As a firm needs to be authorised and regulated by the FCA to sell, promote or advise on the sale of shares and other designated investments in the UK, some fraudsters claim to represent authorised and regulated firms – or even try to change firms’ contact details on the Register – to appear genuine.
 
The scammers then give their own phone number, address and website details to potential victims.
 
It is not unusual for fraudsters to claim that a firm's contact details on the Register are out of date, but this is unlikely as the FCA update the Register each evening.
 
These scammers may even copy the website of an authorised and regulated firm, making subtle changes e.g., to the listed phone number. We have seen counterfeit versions of our website and Register that include the fraudsters’ contact details rather than those of the genuine, authorised and regulated firm.

HOW TO PROTECT YOURSELF

Remember: If it sounds too good to be true, it probably is! 
 
We strongly advise you to only deal with financial services firms that are authorised and regulated by the FCA and check the Register to ensure they are.
 
To verify the identity of an authorised and regulated firm ask for their FRN and contact details, but always call them back on the switchboard number given on the Register. If there are no contact details on the Register or the firm claims they are out of date, contact the FCA Consumer Helpline on 0800 111 6768 0800 111 6768 FREE.
 
You should access the Register from the FCA’s website – www.fca.org.uk - rather than through links in emails or on the website of a firm offering you an investment. Also check that the address of our website is correct and there are not subtle changes that means it is bogus. 
 
With fraudsters adapting their tactics, you should make additional checks to confirm you are dealing with the financial services firm in question and have the correct contact details – especially if you have been cold-called. This might include checking the details on the firm’s website, or with directory enquiries or Companies House.
 
If you deposit funds with a cloned or unauthorised firm, you will not have access to the Financial Ombudsman Service (FOS) or Financial Services Compensation Scheme (FSCS) if things go wrong.
 
There are more steps you can take to ensure you are dealing with the lawful authorised and regulated firm:

WARNING:

  • Forexmax is a single entity and operates from one Location in Kent, England;
  • Forexmax does not have any other branches in any other country;
  • Forexmax is not part of a larger company;
  • Forexmax is not a parent company of any other company;
  • Forexmax is not a sister company of any other company;
  • Forexmax does not maintain the regulatory permissions to accept Client Money as its operations do not include the receipt of what can be classified as Client Money under FCA rules. Any firm / individual requesting such deposits will be doing so fraudulently.

WARNING:

Forexmax has no association / affiliation or connection with any of the following:
  • FXMAX LIMITED
  • MAXFX 
  • MAXFOREX
  • FOREXMAX DUBAI
  • FOREXMX ASIA
  • 7HEDGE LIMITED
  • FXWORLD
  • FXWMA
  • FX WORLD MANAGED ACCOUNT

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