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

Clones are fraudulent entities that abuse the data of authorised firms, including their websites addresses, names, logos, etc. By trying to resemble the authorised firms, the clones attempt to lure potential victims. Despite the use of similar details, the clones have nothing to do with the authorised businesses.

The clone of eToro is not authorised by the FCA but has been contacting people pretending to be an authorised firm.

Clone firm details

Name: Expotoro / Tratoro / PayBack Toro (Clone of FCA Authorised Firm)

Telephone: +442030973333

Email: info@tratoro.com,

info@pbtoro.com

Website: https://expotoro.com/, https://pbtoro.com/

FCA authorised firm details

This is the genuine, authorised firm that the fraudsters are claiming to work for. It has no connection with the clone firm.

The correct details are:

Firm Name: eToro (UK) Ltd

Firm Reference Number: 583263

Address: 24th Floor

One Canada Square

Canary Wharf

London, E14 5AB, UNITED KINGDOM

Telephone: +4402045251189

Email: complianceuk@etoro.com

Website: www.etoro.com

If you deal with the clone, you won’t have access to the Financial Ombudsman Service if you have a complaint.

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.