Retail Forex Broker Dukascopy Bank clone warning details

Not the Swiss regulator, but the Geneva based Forex broker has issued itself the Dukascopy Bank clone warning today. Under which name does the clone website mislead the traders and the market?   

17 August, AtoZForex Retail Forex Broker Dukascopy Bank has issued a warning for its clients. The firm stated that there is a clone of the company’s official website. The fraudsters operate from

Retail Forex Broker Dukascopy Bank clone warning details

Geneva based Forex broker has notified the public about the fraudulent activities of the clone website – The website pretends to provide Forex, commodities, and CFDs trading from Switzerland. In addition, the clone site claims to have almost the same address as the true Dukascopy Bank. The fraudulent entity has its website administration under the Mercure Services Ltd.

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Following on this, the clone states that it has the main office at the following address:

Route de Pre-Bois 22, ICC, Entrance, Geneva 15, Switzierland 1212

As you might notice, they have misspelled the word “Switzerland”. They also forgot to mention the entrance number. The true Dukasopy Bank address is at:

Route de Pre-Bois 20, ICC, Entrance H, 1215 Geneva 15, Switzerland.

Clone firms cases are not rare

Dukascopy Bank is one of the most popular brokerages in the Forex sector. The entity has its trading license from FINMA, the key financial regulator of Switzerland. The FINMA – Swiss Financial Market Supervisory Authority is a Swiss independent financial market regulatory body. Its responsibilities include supervision of the banks, insurance companies, securities dealers, exchanges, asset managers, collective investment schemes, and fund management companies.

Apparently, such cases are not rare. Websites trying to impersonate other legal entities have been appearing as a big issue in the industry for some time. While the fraudulent website did not entirely copy the Dukascopy’s name, it definitely copied the address of the firm.

The brand name of Dukascopy has been a popular target for clone firms since the brokerage is quite famous.

How Frauds clone ADS Securities global domain in detail

A similar case took place in April. That time, the website appeared as an addition to the Alert list of the Hong Kong’s SFC. The name of the website automatically makes you think that SFC has warned investors against dealing with Abu-Dhabi based brokerage ADS Securities. However, this is completely false.

Moreover, the Hong Kong regulator has stated that the website is displaying the name Solution Marketing Online Limited and Global Marketing Online Limited. The regulator further adds:

‘It is not associated with ADS Securities Hong Kong Limited, an SFC-licensed corporation.’

Further inspection of the website revealed that the company claims to have an EU branch. It states that it has an office at the address: Inomenon Ethnon 48, Larnaca 6042, Cyprus. The entity also states it has an office at the addresses: Great George Streets, Roseau 00152, Commonwealth of Dominica and Office 7, 35-37 Ludgate Hill, EC4M 7JN, London, UK. Moreover, the Hong Kong regulator classified the as a suspicious website.

Stay safe!

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