Urgent Alert: Avoid the “Fortrades” Clone Scam
Recent investigations by Scam-Or Project have once again brought attention to the FCA- and CySEC-regulated ForTrade Group. In recent weeks, discussions have taken place between Scam-Or Project and ForTrade regarding potential links to other entities, including the now-defunct Russian broker GloryFT. ForTrade has firmly denied any association with GloryFT.
However, one fact is clear: the entity operating under the name “Fortrades” is an unauthorized clone, illegally using the branding and reputation of the legitimate ForTrade broker to deceive investors. The UK Financial Conduct Authority (FCA) has already issued an official warning about this fraudulent operation.
Key Data Overview
| Category | Details |
|---|---|
| Trading Name | Fortrades |
| Impersonated Brand | Fortrade |
| Domain | https://fortradeltd.com |
| Claimed Entity | Fortraded Limited (non-existent / fake) |
| Exposed BTC Wallet | 1FXRL16YGj2z82qY9UxbHUKwoffHFMVrjk |
| Regulatory Warning | FCA |
How the Scam Operates
The fraudulent broker “Fortrades” promotes itself on its website as a “Revolutionary Money Making Platform.” In reality, the only parties profiting from this setup are the scammers behind it.
Key red flags identified:
- Unauthorized use of the official Fortrade logo and branding
- False claims of legitimacy and regulatory backing
- Exclusive use of Bitcoin (BTC) deposits, avoiding traceable payment methods
- Fake corporate identity (Fortraded Limited)
- Active financial activity detected via blockchain transactions
Investigations revealed approximately 50 transactions linked to one exposed BTC wallet, confirming that victims are actively transferring funds. It is highly likely that additional wallets are being used to expand the scheme.
Risk Assessment
The structure and behavior of the “Fortrades” operation strongly indicate a classic broker clone scam designed to:
- Mislead investors through brand impersonation
- Collect deposits in cryptocurrency to avoid recovery
- Exploit trust in regulated entities like ForTrade
- Disappear once sufficient funds are collected
Conclusion and Warning
The “Fortrades” platform is a confirmed fraudulent clone with no authorization to provide financial services. Investors should treat any communication or offer from this entity as highly suspicious.
Important recommendations:
- Do not deposit funds under any circumstances
- Avoid sharing personal or financial information
- Verify broker licenses directly with regulators such as the FCA
- Report any suspicious activity through the Scam-Or Project whistleblower section
Staying cautious and verifying platforms before investing remains the most effective protection against such schemes.
