The United Kingdom Financial Conduct Authority (FCA) has issued a
warning against ‘AXI Corp Limited,’ a clone firm of the registered forex and
CFD broker Axi and sister company, One Financial Markets. The financial markets
regulator flagged the clone on Thursday in a warning published on its
website.
According to FCA, while the clone firm is located in Leadenhall Street,
London, the two authorized firms are based in 1 Finsbury Market in London.
However, the regulator did not disclose the website of the clone firm, only providing its address,
telephone and email addresses.
Australian broker, AxiCorp, acquired One Financial Markets in August 2018, and the retail broker is now the trading name of Axi Financial Services (UK) Limited.
On the other hand, Axi is run by AxiCorp Limited.
“Almost all firms and individuals carrying out financial services
activities in the UK have to be authorised or registered by us. This firm is
not authorized or registered by us but has been targeting people in the UK,
claiming to be an authorized firm,” FCA said in the statement.
Watch the recent FMLS22 session on trends that will define the forex and crypto industry in 2023.
In 2022, the FCA flagged down a number of clone websites and firms
impersonating registered brokers under its supervision. In July, the financial
markets supervisor raised the alarm on a clone website impersonating Zenfinix, a London-based FX
and CFD broker. The regulator noted that the clone firm was aiming to scam UK investors.
Three months earlier, the financial markets watchdog revealed that Crypto-Trade
was a clone of authorized firm Rational Foreign Exchange Limited. It noted that
the unauthorized entity ran the website www.crypto-trade365.com when the legal firm
operates as rationalfx.com.
Between January and March 2022, FCA also flagged down three other clone
entities. According to the regulator, AZOpitons, which claims that it offers
crypto-related services to both retail and institutional investors, is a clone of Octopus Investments Limited. Furthermore, the supervisor flagged clones of XTB and IC Markets in March and January
2022, respectively.
The United Kingdom Financial Conduct Authority (FCA) has issued a
warning against ‘AXI Corp Limited,’ a clone firm of the registered forex and
CFD broker Axi and sister company, One Financial Markets. The financial markets
regulator flagged the clone on Thursday in a warning published on its
website.
According to FCA, while the clone firm is located in Leadenhall Street,
London, the two authorized firms are based in 1 Finsbury Market in London.
However, the regulator did not disclose the website of the clone firm, only providing its address,
telephone and email addresses.
Australian broker, AxiCorp, acquired One Financial Markets in August 2018, and the retail broker is now the trading name of Axi Financial Services (UK) Limited.
On the other hand, Axi is run by AxiCorp Limited.
“Almost all firms and individuals carrying out financial services
activities in the UK have to be authorised or registered by us. This firm is
not authorized or registered by us but has been targeting people in the UK,
claiming to be an authorized firm,” FCA said in the statement.
Watch the recent FMLS22 session on trends that will define the forex and crypto industry in 2023.
In 2022, the FCA flagged down a number of clone websites and firms
impersonating registered brokers under its supervision. In July, the financial
markets supervisor raised the alarm on a clone website impersonating Zenfinix, a London-based FX
and CFD broker. The regulator noted that the clone firm was aiming to scam UK investors.
Three months earlier, the financial markets watchdog revealed that Crypto-Trade
was a clone of authorized firm Rational Foreign Exchange Limited. It noted that
the unauthorized entity ran the website www.crypto-trade365.com when the legal firm
operates as rationalfx.com.
Between January and March 2022, FCA also flagged down three other clone
entities. According to the regulator, AZOpitons, which claims that it offers
crypto-related services to both retail and institutional investors, is a clone of Octopus Investments Limited. Furthermore, the supervisor flagged clones of XTB and IC Markets in March and January
2022, respectively.
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