FCA warning against clone firm of MTA Trade Limited


July 21, AtoZForex – As it is reported in the official website of Financial Conduct Authority (FCA), the regulator fulfills three core objectives: protecting customers, enhancing market integrity and promoting effective competition.

FCA warning against clone firm of MTA Trade Limited

On its journey to protect the interests of investors through warnings about unregulated activities and entities, FCA has been warning the public against various breaches of the regulatory framework. The latest warning from the FCA came today as the regulator has issued the warning against clone firm of MTA Trade Limited.

The original firm is authorized by FCA, and fraudsters are using its details to convince people that they work for a registered company. According to regulator, the following details were used by the fraudsters to scam people:

MTA Trade Limited t/a MTA Trade UK

25 Canada Square

Canary Wharf

London

E14 5LQ

UNITED KINGDOM

Phone: 44(0)203 8682818, 009712 4093225

Email: info@mtatrade.com

Website: www.mtatrade.com

According to the FCA, the clone firm has no right to provide its financial services to the UK customers or in any other jurisdiction.

Note from FCA on “clone firms”

The official message from the FCA states:

“This is what we call a ‘clone firm’; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the ‘firm reference number’ (FRN) we have given the authorized firm or other details.”

AtoZForex has reached out to the MTA Trade officials for the deeper insights into the case of clone firm of MTA Trade Limited. Currently, we are waiting for the response.

See also: FCA binary options warning: Limited Binary

Stay tuned with AtoZForex to follow the updates of the case!

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