The FCA has issued a warning about an XTB clone website, “XTB Online“. Analysts show that the fake xtbonline.com website has been a clone offering trading bots since early 2023, and that the site was advertised online further back in 2020.
The FCA said that XTB Online which claims to be operating from One Canada Square, Canary Wharf, UNITED KINGDOM, E14 5AA “may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams.”
Financial scams are rife, and as many users have reported in our discussion forum that XTB has been cloned in fake WhatsApp investing groups, XTB has warned customers about cloned websites and fake links.
What are clone scams?
Scammers are able to almost identically replicate and clone a legitimate website with the intention of tricking people into opening up seemingly real accounts to steal their money.
AI now makes this process very simple and it can be done in a matter of minutes using multiple domains, that, unless you are looking at the URL directly, are almost impossible to tell apart.
Even the FCA register has been cloned, which is a record of regulated financial service providers in the UK. When the FCa spots a clon,e they do publish it to help others on their warning page. Last year, the FCA issued 27 clone warnings in one week.
If you spot a scam or a fake websites, it’s imperative that you avoid interacting with them and report it to the FCA here.
We spoke to XTB about financial scams on WhatsApp who said:
“XTB does not actively manage any public or client based Whatsapp groups. All client communications are sent by verified methods such as push notifications, emails and SMS. We regularly email clients on how to avoid online investment scams and impersonations. This site / group has nothing to do with XTB and is, therefore, an example of such risks. We would urge all clients – with XTB or any broker – to be highly vigilant in how or where they seek investment information.
XTB Unknown Link Warning
XTB sent the following to clients: “We’re seeing a growing number of financial scam attempts using fake links sent via email, text messages and Whatsapp groups. That’s why we want to remind you how to stay cautious and keep fraudsters from taking advantage.
DO NOT CLICK ON UNKNOWN LINKS CLAIMING TO REDIRECT YOU TO THE XTB LOGIN PAGE
Scammers can create websites that closely mimic the real one, aiming to steal your login details and gain access to your account.
What can you do to protect your money online?
How we contact you:
We will NEVER get in touch with you via Whatsapp, Facebook or any other social media platform or groups.
On your computer:
Always type xtb.com/en directly into your browser.
On your phone:
Only log in through our official mobile app, and always download it directly from the Google Play Store or Apple App Store.
If you ever receive a suspicious message or link, please report it to our support team immediately.
If you have any questions about these changes or you need any assistance, please do not hesitate to get in touch with our customer support team at: ukservice@xtb.co.uk or +44 (0)20 3695 3086.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
