Admiral Markets confirmed that AdmiralFxMarkets is not part of their business. Traders should stay alert in case of scam risks.

Admiral Markets shared its view on its fraudulent site, AdmiralFxMarkets. The clone is using https://admiralfxmarkets.com/ domain name which encourages the regulated company to take action. Admiral Markets announced that it had nothing to do with the site and advised everyone that it should be avoided.

AdmiralFxMarkets gives sweet promises to its clients, offering returns ranging from 500% to 1000% within 24 to 48 hours; a warning to investors and investment strategists. As a matter of fact, sites like AdmiralFxMarkets are designed to operate as a High Yield Investment Program (HYIP) where returns are still uncertain but appear to end well before your original investment is paid back. The company provides no legal proof of payments and no one is likely to see any money.

Admiral Markets Cloned

Fraudulent websites attempt to deceive customers into believing that they are selling a legitimate product by using data from an authorized organization operating under the same name. In this case, AdmiralFxMarkets claimed to be licensed by the FCA, use the subsidiary's registered address, and refer to its real website.

In a statement, Admiral Markets alerted investors to the dangers of dealing with the fraudulent website. It also stated, "This not only breaks the law but also does not comply with the basic principles of investor protection, disclosure of information, complaint handling and any other legal obligations unauthorized companies and websites that use leading markets brand to do fraudulent activities."

Earlier this year, Admiral Markets suffered another fraudulent transaction that relied heavily on its Latin American clients and provided potential clients with phone calls and emails, offering them unsupported products by Admiral Markets. The fake staff will request the customers' agreement forms by email to request a deposit.

 

Admiral Markets is a legitimate broker offering more than 4,000 instruments to trade in the financial market. Its operation is authorized in at least two top-tier financial jurisdictions, making it one of the safest company to invest with. Learn more about Admiral Markets.