Broker safety
What is Clone firm?
By the verify.trading team · Last reviewed · How we write
A clone firm is a scam that copies the name, details or reference number of a genuine authorised firm to trick people into depositing money.
Key points
- Copies a real firm's identity.
- Compare contact details with the register.
- Check the regulator's warning list.
Clone firm explained
Clones often use a real firm reference number with different contact details, or a lookalike website address. Always compare the phone, address and website with the regulator's register, using contact details from the register and not from the site you are checking.
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General education, not investment advice. Regulatory limits and prop firm rules change; check the official source. verify.trading provides records and analysis, not investment advice; trading involves significant risk of loss. Absence of a regulatory action is not an endorsement, and absence from a regulator's list is not proof of authorisation.