Homepage > Warnings > Watch out for Finero, HugoFX and Dukascopy’s clone [10 warnings]

Watch out for Finero, HugoFX and Dukascopy’s clone [10 warnings]

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ForexRev editors warn against 5 dishonest brokers

ForexRev warns against:

Hugo FX

WEBSITE: www.hugostrade.online
COMPANY: Hugo’s Way Limited

The company responsible for this platform is based on the islands of Saint Vincent and the Grenadines. In the content of the website, the broker informs that the operator of the platform is Hugo’s Way LTD.

The platform offers an affiliate program, which means that in return for recommending a new client, the recommending person receives bonuses or a commission. This is one of the main sources of customer acquisition in the case of this type of platforms, so be extremely careful when using the recommendations of people you know from the web. Our reader fell victim to such a command and shared his story with us. He reports that he learned about the platform from a person “known in the world of cryptocurrencies”, who he had been following on social media for a long time, thus giving him a lot of trust. The person contacted the victim via Social Media, offering help in trading cryptocurrencies in return for a 15% commission on profits.

The investor was informed by the “celebrity” that after setting up an account on the hugostrade.online platform, he would be linked to the Referrer’s account and the investor himself did not have to make any moves, all movements on the platform were to be made by a fraudster, transactions were to be copied from the “parent” account “and concluded automatically.

“If I set up an account there, it will be linked to his account, which will copy his movements and that I do not have to do anything but look and learn and earn”

The entire cycle was to last 4 days, after which the investor was to be able to withdraw funds from the platform and then also had to settle the commission for the fraudster.

After the funds were deposited in my account, the alleged trade started. My supposed profit on a $650 deposit started to grow fast and reached $8,440.

In the meantime, the investor became suspicious and decided to verify the truthfulness of the “celebrity” account in social media, as it turned out later, the account was fictitious and did not belong to the person whom the scammer claimed to be. – I discovered that the message from the alleged Phil K. came from a duplicate account.

After the “trade” is over, the payment of the “profit” depends on the 15℅ fee on the profit, ie $1,266. I suggested that this commission should be deducted from my income, but there is no such option due to the company’s policy.


WEBSITE: www.finero.co.uk
 Finero Corp Limited

Our readers report problems with withdrawing funds from this platform. The pattern of action they describe is typical of financial fraud. First, consultants persuade you to make a small payment of $250, and then, under various pretexts, persuade you to make further payments.

The problem arises when trying to withdraw funds – information about the need for further payments under the pretext of taxes, commissions, etc.

When checking the broker’s website, you can come across several warning signs. In the footer, you will find a link to the register of companies from Great Britain. You can see that the company was established only on July 6, 2022, which is very disturbing looking at other information on the website and its alleged long-term operation. The company also does not have a license from the British FCA, which is mandatory for this type of service.

Interestingly, in the “Legal Documents” tab, we can find a photo of the “license”, which in practice is a forged document. There we will find information that the license was issued in 2016! Also, the company number on the document is different and belongs to UK DISTRICT PROPERTIES LTD, registered, by the way, in January 2022.

We warn you against depositing any funds to the Finero platform.

If you have experience with this broker, please share your opinion in the comment on his profile.

Dukascopy (clone)

WEBSITE: www.app-uplow.vip/dist/# / www.dukascopy.top

The Dukascopy broker itself on its website warns about the above platform.

Dukascopy Bank SA informs about a fake clone of its website in the domain https://www.app-uplow.vip/dist/#/. Please note that this website is not under the control of and does not belong to Dukascopy Bank, Dukascopy Europe, Dukascopy Japan or any other entity of the Dukascopy Group.

Do not trust any information to be found on the website https://www.app-uplow.vip/dist/#/. Do not provide any personal data on this website.

We are taking actions against this fraudulent webpage.

The same warning was posted on the broker’s website regarding another platform that masquerades as a company – dukascopy.top.


New warnings from the FINMA

FINMA warns against:


WEBSITE: www.cryptospair.com

FINMA’s warning

MFSA Malta ostrzeżenie

FxTradeWolf  platform blacklisted by the Maltese Financial Regulator MFSA

MFSA warns against:


WEBSITE: www.fxtradewolf.com
COMPANY: Fxtrade Capital Markets Limited

The entity claims that it “holds a license for a category 3 investment service” and is “regulated by the MFSA”, this information is incorrect, and the MFSA denies that it was authorized to offer investment products to the above platform.

MFSA’s warning

FCA ostrzeżenie

The British Financial Conduct Authority warns against  5 scams

FCA warns against:


WEBSITE: www.bitfxtradez.online

FCA’s warning

Fraud Solutions

WEBSITE: www.fraud-solutions.net

FCA’s warning

Equitixincome (clone)

WEBSITE: www.equitixincome.com

The dishonest broker pretends to be another, properly registered company and uses its data to gain the trust of a potential investor.

Company’s data that the “equitixincome.com” fake broker uses:

Company name: Equitix Investment Management Limited
Reference number: 471196
Proprietary domain: www.quitix.co.uk

FCA’s warning

Fx Guarantee Options

WEBSITE: www.fxguaranteeoptions.com

FCA’s warning


WEBSITE: www.m24markets.com

FCA’s warning

Author: Izabela Kamionka

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