FCA warns of IC Markets fakes and clones

Recently, the UK financial regulator Financial Conduct Authority (FCA) issued a warning regarding a number of imposter firms and websites pretending to be IC Markets, the Australia based multinational Forex broker. The notice first published on the 7th of January 2022 extends to cloned websites that do not belong to IC Markets and are not associated with the globally regulated broker.

We’d note that a number of other Forex industry websites were fooled by the FCA warning, thinking that it was actually IC Markets itself which was warned, which is of course incorrect. Those sites issued articles entitled something like “FCA Flags IC Markets for Offering Services in UK”, although we have now noticed that at least one of the article titles (and much of the article wording) has been post-edited, adding in the word “Clone”. On another forex blog the article calling out IC Markets was entirely removed, after the company pointed out the mistake they made.

IC Markets EU, headquartered in Cyprus and fully regulated by the Cyprus Securities and Exchange Commission (CYSEC), enables IC Markets to legally operate across the European Union and the United Kingdom without hindrance. UK customers can trade with peace of mind knowing IC Markets is monitored by one of the strictest financial European regulatory bodies with access to industry-leading consumer protection features.

The imposter sites cloned the IC Markets user interface to cause potential harm to unwitting consumers. Security is critically important to IC Markets, both within the organisation and externally in the wider world. The company said that the safety of its customers is paramount, and it is committed to building a safer digital environment for all.

The clone websites noted by the FCA warning include icm-market.com, i-cmarketz.com, icmarketpro.com, and ic-forexmarket.com. Again, none of those sites are owned or managed by IC Markets.

Since this is a gross violation of IC Markets intellectual property, the imposter websites in question have been reported to the authorities. Appropriate legal action will be taken to protect the brand and, above all, consumers from any nefarious intent.

Such facsimiles have unfortunately become commonplace online. It is essential to take care whenever on the internet to avoid falling victim to digital scams.

IC Markets said it will work closely with the FCA and relevant authorities throughout the globe to ensure imposter organisations cannot take advantage of traders online.

Built by traders for traders, IC Markets is one of the world’s largest Forex CFD broker dedicated to offering ultra-tight variable spreads, phenomenal order execution speeds, unrivalled liquidity and exceptional 24/7 service clients around the world. Since its launch in 2007, IC Markets has bridged the gap between retail and institutional clients by offering a trading solution previously only available to investment banks and high net worth individuals.