FCA warns against clone of eToro
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)
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
London, E14 5AB, UNITED KINGDOM
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.