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Screenshot of a breaking news alert e-mail from Q2 2017
The practice of cloning, where unauthorized businesses use the data of authorized ones to lure investors more easily, is gathering speed. The latest target of this fraudulent approach is MahiFX, a retail Forex broker regulated in Australia and New Zealand.
MahiFX has published a warning on its website, saying that an entity named Great Trade is misusing information and images of the broker.
PLEASE NOTE: It has come to our attention that a website called Great Trade has been using some of our information and images. We’d just like to let you know that this website is fake, and has no affiliation with MahiFX. We have reported Great Trade to the appropriate organisations.
LeapRate’s check has shown that the clone in question operates via https://great-trade.net and offers high-yield investment plans. The information obviously taken from MahiFX’s website is various, but perhaps the most stunning example is the abuse of the photos and names of MahiFX’s senior management, including that of MahiFX’s CEO and founder David Cooney.
MahiFX reiterates that it is in no way related to Great Trade.