The UK Financial Conduct Authority (FCA) has issued a warning against a clone of online broker AVA Trade.

Clones are fraudulent entities that abuse the data – name, logo, license number, address, etc – of authorised businesses, so that the clones can easily lure victims. The clones have nothing to do with the authorised businesses.

The clone – Ava Capital Markets, is not authorised by the FCA but has been contacting people pretending to be an authorised firm.

Clone firm details

Name: Ava Capital Markets (clone of FCA authorised firm)

Address: Cambourne Business Park, Cambourne Road, Cambridge, CB23 6DW

International Commercial Centre, 11th Floor, 1 Austin Road West, Kowloon, Hong Kong

Email: info@avacm-ltd.com,

accounts@avacm-ltd.com,

admin@avacm-ltd.com,

info@avacmltd.com,

accounts@avacmltd.com,

admin@avacmltd.com

Website: www.avatradecoins.com, www.avacm-ltd.com, www.avacmltd.com

FCA authorised firm details

Firm Name: AVA Trade EU Limited

Firm Reference Number: 504072

Address: Dockline IFSC Dublin, Dublin 1, IRELAND

Telephone: +353872033740

Website: www.avatrade.com

If you deal with the clone firm, you won’t have access to the Financial Ombudsman Service if you want to complain.

You also won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it’s unlikely you’d get your money back if the firm goes out of business.