FMA identifies almost 100 fraudulent trading platforms including Saxo, IG and ATFX clones

The Financial Markets Authority (FMA) has issued a warning after finding almost 100 fake trading platforms that copy the look and feel of trusted brokers such as Saxo, IG and ATFX.

These platforms use deceptive designs and false claims to lure unsuspecting investors into depositing funds. Fraudsters behind these sites mimic well-known brands to build trust, but they often impose hidden fees and manipulative practices that lead to financial loss.

An FMA spokesperson explained:

Our investigation shows that these platforms are made to look like reputable brokers, which makes it very easy for investors to be misled. We advise everyone to always verify the authenticity of a trading platform before investing any money.

The FMA is actively working to shut down these fraudulent sites and urges the public to report any suspicious activity.

Below is a sample list of some identified fake trading platforms along with their websites and contact emails:

The FMA continues to investigate these fake platforms to protect investors and maintain trust in the digital trading environment. Investors are urged to always use regulated brokers and verify the authenticity of any online investment platform.

Source: FMA