Honestly, seeing this FCA warning about a clone broker impersonating Fortrade hits a nerve, because I wish I’d understood this game much earlier in my trading journey. When I started out, if a site looked professional, used a big brand’s name and promised things like “0.0 spreads”, I took it at face value. I had no idea there were fake “Fortrade”-type websites out there copying logos, claiming random licenses in the UK, US or Seychelles, and leaning on things like a FinCEN registration that doesn’t even regulate forex. Looking back, I realise how close I came to wiring money to the wrong place simply because I didn’t check the exact domain and license number on the FCA register and compare it with the real Fortrade.
If you’re trading now, learn from this: don’t just trust marketing banners or a familiar brand name, always verify the broker directly with the regulator and use tools like BrokersView to cross-check. A losing trade hurts, but finding out your “broker” was a clone from day one is a whole different level of pain.
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