The UK Financial Conduct Authority (FCA) has issued a warning against a clone of retail FX and CFD broker Plus500.

Clone firms are unauthorised entities that abuse the data (name, logo, address, etc) of authorised firms in order to lure victims more easily. Despite their resemblance to authorised firms, the clone are fraudulent.

Clone firm details

Name: p500.io (Clone of FCA authorised firm)

Telephone: +447780007138

Website: p500.io

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: Plus500UK Ltd

Firm Reference Number: 509909

Address: 8 Angel Court

Copthall Avenue

London, EC2R 7HJ, UNITED KINGDOM

Telephone: +4402038761640

Email: compliance@plus500.co.uk

Website: https://www.plus500.com/en/

If you deal with the clone firm, 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.