A rogue website with a similar domain name to Admiral Markets has begun operating at “admiral-crypto.com”, the retail FX broker announced.
Claiming to offer cryptocurrency trading services, the fraudulent website claims to be an entity of Admiral Markets UK Ltd. and states that it is subject to UK regulatory supervision as well as to the special supervision by the French Prudential Supervisory Authority, authority backed by the Banque de France.
Admiral Markets UK Ltd took to the press to ensure the public and the authorities that it is, in no way, associated with the rogue website, nor does the company have any responsibility for business conducted through it: “This is a scam and should be avoided at all costs”, says the official announcement.
Jens Chrzanowski, Member of the Admiral Markets AS Group Management Board, commented: “Spam emails used to be the trendy bad habit. Now, even web pages are getting scammed. If you ever see a web page that you think is suspicious, please double check that it’s authentic!” he continued.
Fully regulated by the Financial Conduct Authority (FCA Register No. 595450), Admiral Markets reminds that any other unauthorized persons, companies or websites using the Admiral Markets brand for fraudulent activities, not only break the applicable laws, but also do not comply with the basic rules of investor protection, information disclosure, claims handling and other regulatory obligations.
“Admiral Markets strongly recommends to remain vigilant against such fraudulent websites and contact their customer support team for further questions”, the announcement continued.
Recently, the Estonian financial watchdog, Financial Supervision Authority, has fined €7,000 Admiral Markets AS for misdemeanor proceedings after the investment firm violated a Securities Market Act provision barring companies from emphasizing potential yields for prospective customers without simultaneously referring clearly to the risks related to the service.
Regarding cryptocurrencies, the real Admiral Markets has added four digital coins to its online trading offering: Bitcoin, Ethereum, Litecoin, and Ripple. Since September 2017, the Admiral Markets MT5 account started mirroring all terms and instruments of the broker’s flagship MT4 account.