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Also, Swiss Bank Dukascopy warned against GCG Asia. In the announcement, Dukascopy Bank cautioned that neither it nor any entities of Dukascopy Group have relations with GCG Asia, although the latter fraudulently claims the opposite:

“GCG Asia is fraudulently using Dukascopy's name and logo for attracting clients/investors, without Dukascopy Bank's permission. We are taking action against this dishonest organization. We invite to extreme caution toward such an organization basing its promotion on a lie.”

However, we have checked the above information provided on the firm's website and haven't found any records of SeRex Investments in the FCA register. Moreover, according to the FCA’s recent statement, the broker was not just providing misleading regulation information, but it was also using the details of the FCA-licensed company.

In its notice, the UK regulator states that “clone firms” – fraudsters usually use this tactic when contacting people out of the blue, so clients should be especially wary if they have been cold-called. They may use the name of the genuine firm, the ‘firm reference number’ (FRN) the regulator has given the authorized firm, or other details.