FCA Warns of Scam Imitating Admirals UK
Beware of fraudsters posing as Admirals! The FCA has issued a warning to investors about a fake website (admrlmrkts.co) which uses company addresses and FCA reference numbers to deceive people.
The UK Financial Conduct Authority (FCA) has issued a warning about fraudulent entities misusing information about publicly listed forex brokers, Admirals forex brokers , to deceive retail traders. This fraudulent entity, operating under the domain admrlmrkts.co, mistakenly lists valid company addresses and registered addresses on its website.
By pretending to be a legitimate platform, fraudsters use this information to create the illusion of authenticity and legitimacy while promoting financial products and services. These fraudsters often include accurate details of registered companies to deceive UK traders.
The UK subsidiary of forex broker Admirals operates a non-advisory trading platform licensed by the FCA. This license underscores its commitment to maintaining integrity, upholding global financial standards, ensuring the confidentiality of personal information, and adhering to the separate account principle.
The FCA emphasizes the importance of being careful and avoiding interactions with these fraudsters, who provide misleading information to appear credible. Financial industry fraudsters often clone legitimate websites to steal funds, credit card numbers or login credentials from unsuspecting victims.
In other forex broker news, Admirals The UK reported a net profit of more than £46,000 and annual revenue of £8.4 million for 2023, marking an increase on the previous year's figures.
Admirals (Admiral Markets) is a globally recognized forex and CFD broker regulated by top-level authorities such as the FCA in the UK and ASIC in Australia. Known for its low forex CFD fees, Admirals offers fast and mostly free deposit and withdrawal options.