FCA Flags 10 Unauthorised Firms and Clone Entities in Latest Scam Alert

In its latest consumer protection update, the UK Financial Conduct Authority (FCA) has issued warnings against ten unauthorised or clone firms that may be targeting investors in the UK. These entities are neither registered nor authorised to offer financial services under the FCA framework, raising concerns over potential scams and misleading conduct.

List of Flagged Entities:

1.Dynavex Trader

Website: www.dynavextrader.com

No registered address or contact details were confirmed.

2.Sunnextrade

No verifiable contact information was provided. The firm may use misleading or falsified business details.

3.Protradecopier

Addresses:

- 1100 15th Street, NW 4th Floor, Washington DC, USA

- 2108-150 King Street West, Toronto, Canada

- 225 Central Park West, New York, USA

Contacts: +447888880119, +16062297623

Email: support@protradecopier.com

Website: www.protradecopier.net

4.Myfirstara

Email: support@myfirstara.com

Website: www.myfirstara.com

5.Hivepro Trade

Addresses:

- St Vincent

- Johannesburg, South Africa

- Victoria, Seychelles

Email: support@hiveprotrade.live

Website: https://hiveprotrade.live

6.CavonixTrader 3.9 Nova

Website: www.cavonixtrader-3-9-nova.cyou

7.Citizens Financial Express Bank

No confirmed address or contact details provided.

8.BRINKMAN GRAY BUSINESS ASSOCIATES

Address: 45 Broadway, New York, NY, USA

Fax: +16465584109

Emails: info@brinkmangray.com, admin@brinkmangray.com

Website: www.brinkmangray.com

9.Finance Claims Expert (Clone firm)

Email: noreply@financeclaimsexpert.co.uk

Website: https://www.financeclaimsexpert.co.uk

10.westhillfund.com (Clone firm)

Email: support@westhillfund.com

Website: https://westhillfund.com

Clone firms in particular pose heightened risks as they impersonate authorised entities, often copying company names, websites, or contact details to deceive investors into thinking they are dealing with a legitimate provider.

A Broader Pattern

The FCA regularly updates its warning list to protect consumers from unregulated or fraudulent actors. Such firms may provide misleading contact details or change information over time to evade scrutiny. Clone entities may even present falsified documentation or link to real registration numbers to appear authentic.

Caution Advised

When dealing with financial service providers, especially those offering online investment opportunities, verifying authorisation status remains crucial. Platforms like WikiFX allow users to quickly check whether a broker holds proper regulatory licenses and avoid potential scams.