FCA warns of clone firm FTradition, emulating name of Swiss interdealer broker

British regulator, the Financial Conduct Authority (FCA) has issued a warning relating to a clone website which is operating under the name of FTradition, an acronym for Forex Tradition, operating from 118912 Trident Chambers, PO Box 1388, Victoria, Mahe, Seychelles.

This particular company is neither registered by the FCA to operate in Britain nor to solicit business from British clients, and also is using a naming convention which is very similar to that of large Swiss interdealer broker Compagnie Financiere Tradition.

The attempt to emulate the Swiss firm is also evident in FTradition’s website address, which is  www.ftradition.com and therefore very similar at a glance to that of the bona fide firm.

The FCA points out that this FCA authorised firm that fraudsters are claiming to work for has no association with the clone firm.

The approved company, which is the British division of Tradition, is authorized to offer, promote or sell services or products in the UK and its correct details comprise three UK entities, which are Tradition (UK) Ltd, (FRN:139200), Tradition Financial Services Ltd, (FRN:147543) and TFS-ICAP Ltd, (FRN:206018).

The three entities operate from Tradition’s London address, which is Beaufort House, 15 St Botolph Street, London EC3A 7QX, and the authorized firm’s website is www.tradition.com

For the official announcement from the FCA, click here.

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