Markets.com -- FCA makes it look potentially dodgy

Broker Discussion Forex Brokers
1

Hi Guys.

I am using a paper MT5 account at markets.com. I am based in the UK. I was doing the section on picking a broker on the babypips.com education and looked up my broker on the FCA.

As you can see it says:

Individuals are using the details of this firm to suggest they work for the genuine firm. We call this a cloned firm and it is typically part of a scam.

Seems slightly disconcerting. Has anyone experience with this broker - shall I avoid and simply pick another?

2

Scammers can pick on any firm to clone their website or identity. But they possibly have an easier job attracting clients if they pick trusted and well known firms?

3

Hi, If you have ANY doubts about regulation, you can check registration number on FCA website. Regards Greg