Warning Against the Fake Regulator FSRS
FCA Issues Alert on FTrade / Fortrade Clone Scheme
The UK Financial Conduct Authority (FCA) has published an official warning concerning the broker scheme FTrade, also known as Fortrade, which operates as a clone of the legitimately regulated Fortrade Group. According to the fraudulent website (https://fortrade.broker), the entity claims to be authorized by the so-called Financial Services Regulation Scheme (FSRS) under registration number 9488487.
The FSRS presents itself as an independent financial oversight body responsible for supervising its registered members. It further asserts that holding an FSRS certificate guarantees reliability and trustworthiness for clients.
FSRS – A Fabricated “Regulator”
These claims are entirely misleading. FSRS is not a legitimate regulatory authority. It is a fictitious organization created by fraud operators to simulate credibility and deceive potential victims.
Such fake regulators are commonly used in investment scams to:
- Imitate real financial authorities
- Provide false “licenses” to unregulated brokers
- Create a false sense of security for investors
- Avoid scrutiny from legitimate regulators
Known Fake Regulators
Below is a list of entities identified as fraudulent or misleading “regulatory” organizations:
| Name | Abbreviation | Website |
|---|---|---|
| Financial Services Regulation Scheme | FSRS | https://fsrsc.org/ |
| International Financial Market Regulation Center | IFMRC | https://ifmrc.org/ |
| Global Financial Authority | GFA | https://globalfinauthority.com/ |
| Swiss Financial Securities | SFINS | https://sfins.ch/ |
| Markets Financial Authority | MFA | https://www.mfa.org.uk/ |
| Financial Commission | — |
|
| Financial Services Monitoring Authority | FSMA | https://www.fsma.org.uk |
Stay Vigilant
Investors should always verify the legitimacy of a regulator through official government or well-known financial supervisory bodies. The use of unknown or unverifiable “regulators” is a strong red flag indicating potential fraud.
Share Information
If you have insights about additional fake regulators or ongoing scam operations, you can report them through the Scam-Or Project whistleblower section.
