FCA warns of clone of social trading provider Ayondo Markets

The Forex industry has been increasingly targeted by clone firms, that is, unauthorized companies that emulate the data, including names, websites, etc., of licensed entities, in order to easily defraud investors.

The UK Financial Conduct Authority (FCA) is amid the regulators that actively warn against this practice. The watchdog published a special announcement yesterday regarding a sharp rise in reports from consumers about unlicensed trading and brokerage firms. The announcement particularly stressed the growing activity of clone firms.

The latest FCA warning concerns a clone of Ayondo Markets, a licensed Forex company, providing social trading and fintech services.

The fraudsters are misusing the name of the licensed entity, its logo and most of the data from its website.

Below are the details of both the clone and the authorized entity, so that investors can more easily tell the difference between the two companies.

Clone firm details

FCA authorized firm details

  • Firm name: Ayondo Markets Limited
  • Firm reference number: 184333
  • Address: Floor 4 Audrey House, 16-20 Ely Place, London EC1N 6SN
  • Website: www.ayondo.com

The watchdog notes that the clone entity has no association with the licensed firm.

You can view the FCA warning by clicking here.

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FCA warns of clone of social trading provider Ayondo Markets


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