UK watchdog FCA warns against Fortrade clone FXTradePremium

FCA warns against Fortrade clone FXTradePremium
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The UK regulator FCA issued an investor warning against the scam broker FXTradePremium on 20 August 2020. According to the information on the website, the scam is operated in Minsk via the Fort Securities LLC registered in Belarus with registration number 193075810. This is actually one of the companies of the CySEC regulated investment company ForTrade Cyprus Ltd (CIF No 385/20). The latter offers its services under the CySEC-approved domain www.fortrade.com and the brand Fortrade.

The scam offers to trade in Forex and/or Crypto. Whoever registers for crypto trading will be redirected to the German crypto site BitQT (www.bit-qtpro.com). This site offers a trading app that allows investors to trade cryptos automatically and make a lot of money. A legal entity as the operator is not given, nor is an imprint. A full-blown crypto scam though.

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