Clone firms: 6 checks that expose a fake copy of a real regulated company
The Sentinelle Markets team · 29 October 2026 · 4 min read · How we write
In short
- A matching name proves nothing: domain, phone and bank account must match too.
- Call the real firm on the number from the register, not from the website.
- A payment account in another name is a stop sign.
The most convincing trading scams don't invent a company: they borrow a real one. A clone firm copies the name, the registration number and sometimes the address of an authorised firm, then builds its own website, email address and phone line around them. A quick register search "matches", and that is exactly the trap.
How a clone works
The fraudster picks an authorised firm, often a small or foreign one, and copies its public details from the register. The victim checks the name, finds it listed and relaxes. The money then goes to a bank account the real firm has never heard of.
Six checks that expose a clone
| # | Check | What a clone usually gets wrong |
|---|---|---|
| 1 | Website domain | Differs from the one recorded in the register |
| 2 | Contact details | Phone or email not the ones on the register |
| 3 | Who called whom | The "firm" contacted you first, by phone or social media |
| 4 | Payment account | In another company's or a person's name, or in another country |
| 5 | Services offered | The real firm isn't authorised for what you're being sold |
| 6 | Independent contact | The real firm, called on its registered number, has no record of you |
Check 6 is the strongest: take the phone number from the register, not from the website, and ask the real firm whether the person contacting you works there.
Regulators warn about clones too
The AMF, the FSMA and FINMA regularly publish warnings about sites usurping the identity of authorised firms. Search the domain on those lists first (how to read the AMF, FSMA and FINMA warning lists).
The cost of skipping check 4
Say a clone asks for a deposit of $3,000, wired to an account held by a different company "for processing reasons".
| Amount | |
|---|---|
| Deposit wired | $3,000 |
| Recovered if the bank acts the same day | sometimes part of it |
| Recovered after several weeks | often nothing |
Illustrative calculation, not an expectation of results.
If you have already paid, every hour counts: what to do in the first 48 hours.
When the firm is genuine
Passing all six checks means the firm is who it says it is. It doesn't make trading safe. Before any trade, size the position with the lot size calculator and weigh the reward against the risk with the risk/reward calculator. Most retail traders lose money, at genuine firms too.
The rule in one line
The name proves nothing. The domain, the phone number and the bank account must all match the register. If one of them doesn't, you are not dealing with the firm you looked up.
Questions people also ask
What is a clone firm?
A fraudulent operation that copies the name and details of an authorised firm, with its own website, contacts and bank account.
What is the strongest check?
Contact the real firm using the details recorded in the regulator's register and ask whether the person contacting you works there.
Do regulators warn about clones?
Yes. The AMF, the FSMA and FINMA regularly publish warnings about sites usurping authorised firms.
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