On November 27, 2023, the Financial Conduct Authority (FCA) issued a warning, exposing a clone of an FCA-authorized firm, CWG Markets. This clone firm refers to itself as CWG Markets (aka CWG Foreign Exchange) to mislead and deceive investors. Find more information at https://www.fca.org.uk/news/warnings/cwg-markets-cwg-foreign-exchange-clone-fca-authorised-firm.

The website https://www.cwg-ins.com/ is a counterfeit of the legitimate forex broker, CWG Markets. Upon visiting this site, you'll notice the unauthorized use of the CWG Markets' logo. Furthermore, the site's content is entirely in Chinese, which is noteworthy, considering China does not issue licenses to forex brokers.

This fraudulent version of CWG Markets goes as far as copying the licensing data from the legitimate site (as seen in the first screenshot from the counterfeit site and the second from the real CWG Markets).

The Financial Conduct Authority (FCA) has investigated this clone firm and issued a warning against it.

Investors trading with this counterfeit CWG Markets risk falling victim to fraud and identity theft. Therefore, we strongly advise traders to avoid this platform to protect their interests and ensure their safety.

The fraudulent entity known as Clone CWG Markets, also referred to as CWG Foreign Exchange, continues to expand its operations by creating additional website addresses. This strategy aims to reach more unsuspecting investors and solicit further funds. The Financial Conduct Authority (FCA) has updated its warning against this counterfeit forex brand, providing more details about the scam. Currently, Clone CWG Markets operates through three websites: https://www.cwg-ins.com/, https://www.cwg-ins.com/lxwom.html, and www.cwgcn.com. Investors are strongly advised to avoid these sites to prevent potential fraud and identity theft. https://www.fca.org.uk/news/warnings/cwg-markets-cwg-foreign-exchange-clone-fca-authorised-firm