Scammers Imitate XTB Broker’s Website, FCA Warns

The UK Financial Conduct Authority (FCA) has issued a critical warning about sophisticated scams as scammers imitate XTB broker’s website. These fraudsters target investors by creating fake versions of XTB’s site to deceive and steal funds, xtbtrading.org, designed to closely resemble the legitimate XTB site. This deceptive website mirrors the original’s appearance and includes falsified office addresses and contact details to mislead potential investors.

The fake site provides a seemingly legitimate registration form and links to what appear to be genuine trading accounts. Unsuspecting users who transfer money through these links are unlikely to recover their funds, as the money is redirected to the scammers. The FCA has identified that these fraudsters have contacted victims via phone at +442036953085, though they may employ different numbers.

Scammers Imitate XTB Broker’s Website, FCA Warns

This is not the first time scammers have targeted XTB. The FCA issued warnings about similar fraudulent activities in December 2023 and March 2022. However, this latest scheme represents a more advanced level of deception, raising significant concerns within the financial industry.

To protect themselves, the FCA advises investors to verify the authenticity of any broker through official regulatory databases and to remain cautious of unsolicited offers or suspicious websites. For verification, investors should use the official XTB site for the UK, which is xtb.com/uk.

XTB has announced that it is working with law enforcement to combat these fraudulent activities. The company is urging investors to stay vigilant and report any suspicious activity. As scams involving clone websites seriously threaten the FX/CFD market, maintaining awareness and confirming broker legitimacy remains crucial for safeguarding investments.

Getting to Know the Stock Broker

• XTB is a top global brokerage for Forex and CFDs.
• The FCA and KNF regulate it.
• Known for reliability and excellent customer support.
• Features the advanced xStation five trading platform.
• Also, it offers extensive educational resources and research.

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