A press release has been made public about the counterfeit firm that impersonates Exness under the name of ExnessFXCapital.
Although the proliferation of fraudulent websites that look like the websites of reputable financial institutions is nothing new, regulators never give up on addressing the widespread trend.
UK Financial Conduct Authority recently released a warning regarding the fraud committed by a counterfeit company, namely ExnessFXCapital, over its illegal conduct of drawing investment as the long-standing broker "Exness." Taking the benefits of Exness' position as a prime company that hosts nearly $2.8 trillion in monthly turnover, this fake firm operated through the domain https://exnessfxcapital.com/, expecting illegal transactions in forex and ECN trading with the victims.
The cloned website is one trick fraudsters in the financial services industry increasingly use to rob victims. A legitimate website is copied or "cloned." The goal is to steal victims' money, credit card information, or login credentials. The website copy can be incredibly accurate or just a rough approximation with some copied logos.
Being like two peas in a pod, these companies may be considered interchangeable due to similar logos or even names: Exness and ExnessFXCapital. The victims might be allured by paid-for-adverts. It would be more convincing when they acquired information that in order to run a CFDs brokerage business, Exness acquired its regulated UK license, an IFPRU €730K firm, in 2016.
See Also: Exness Review
However, the authorities actively monitored the potential scams and released alerts through search engines and social media networks. As a result, such a fake company was possible to be removed from any network promptly. However, being the other side of the coin, the customers should also be aware of the tricks.
The FCA warns consumers, "fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold-called."
6 Comments
Jan 20 2023
At the very least, if the broker asks you to deposit money and guarantee profits, you will know it is a scam even if you use the name of the broker. In cases like this, I think her Exness as a broker needs to educate their clients on the characteristics of fraud. And at the very least, it will prevent some customers from getting scammed on her Exness website in a spoof.
And customers and merchants need to know that all fraudulent activity can be identified. For example, you can read some articles here to know all kinds of scams that occur:
Hopefully, some readers can read about these article because it is very useful for us to avoid scam. Prevention is better than curing.
Jan 22 2023
Sandy: I think you misunderstood the news above. The fake website copies the Exness website. So, if you're not careful, you can open a website without knowing if the Exness website is genuine or not.
Have you heard about the fake Facebook website? If you know, I think you ever heard this case. You entered this fake facebook website, you would think that the Facebook account you used to log in would be automatically logged out because the website page is showing email and password coloumn. The website is very similar to the real one, so you don't realize this website is fake one so you enter your email address and password there. result? Scammers got your email address and password from the fake FB website you entered!
That's happenning at Exness Fake Website! Imagine it, the scammers can get your account with you enter your account in their fake website!
Jan 22 2023
Yes, I have heard of it. This level of fraud is another level. As @Sandy said above, all the tricks he describes are no longer powerful. Most traders have internet access at this time of year so they can learn and read articles like this one on his website. So you can know that the broker is extorting deposits and blah blah scam brokers. I think clients need to be extra careful and know that there is only one broker's website.Also, the broker should educate clients that the only website address has exness There is also a need.
Also, for security reasons, you can access your account through mobile apps downloaded from the App Store or iOS Store.
Jan 22 2023
I did some research on this scam broker and found that it offers trading with some features like a broker but with ridiculous terms and conditions. That website I found that Exnessfxcapital did not provide enough details to support their service. The About USA section only explains the various trade phrases. These trusted forex investment firms currently use proven methods. Practical methods can give you a substantial return on your investment. Deploy Exnessfxcapital office leading liquidity provider. Everything it offers is ridiculous. The sales page aspect is the same as that of many fraudulent companies: the investment firm promises to monitor traders' claims. It therefore claims a sizeable customer base to support its offers and deals.
Therefore, you should read the article shared above the comments.
Jan 22 2023
What confuses me is why forex is always identified as fraud. So, you know that forex trading actually trades currencies and is legal. Participants are primarily banks and other financial institutions. How do scammers perform this trick against such participants and most of them succeed in scamming traders? This makes Forex looks like scamming and gambling things, making negative stigma to every people.
Jan 22 2023
Rocky: In fact, all the financial institutions that you mention is forex trader without medium. So, they are the creators of Forex. Most of them is the mover market in Forex. Are you know about ECN brokers? ECN brokers connects you to these banks and financial insitution (hedge funds, central bank, MNC Companies) that has very large funds to trade.
But we as trader, was never can enter the Forex Market directly. I mean it is posibble but need so much funds. Because of that, we need broker. Brokers are our medium that connect us to the Forex Market, indirectly. So, you just deposit your money to the brokers. Are you know your brokers well? I don't think so because you never met them, and you just read the regulation and other proof that they are reliable and trusted.
Because of this , many people takes the advantage to do scam. And yet you also deposit your money to the unknown people too. So, that's the problem and make Forex become negative word to people.
(read this to know if your brokers are scam : How to Find Out your Brokers scam