The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to a scam in which a legitimate DFSA authorised firm, Fortrade (DIFC) Limited (the Firm), has been impersonated. The scammers, using the name ‘Fortradefx’, are purportedly offering the same financial services as the Firm, including trading in Contracts for difference and foreign exchange.

The scammers appear to have impersonated the Firm by:

•  using the name ‘Fortradefx’, which is deceptively similar to the name of the legitimate Firm;
•  setting up a fraudulent website (https://fortradefx.ae/index) that misuses the Firm’s name and purported DIFC address; and
• using unofficial email addresses which ends with @fortradefx.ae (note: all legitimate email addresses of the Firm end with @fortrade.com).

The DFSA confirms that:

• ‘Fortradefx’ is not incorporated or located in the DIFC, and is not, and has never been, authorised by the DFSA; and
• the fraudulent website does not belong to the Firm or any DFSA-regulated entity; and
• Fortrade (DIFC) Limited has no association with ‘Fortradefx’ or any other fraudulent investment schemes purporting to be connected to the Firm.

Additionally, the DFSA advises that the perpetrators of this scam have never been authorised by the DFSA to provide financial services in or from the DIFC.

The DFSA strongly advises you not to respond to any communications regarding this scam, and under no circumstances should you send or give any money to any party involved.

The DFSA has a page on its website dedicated to alerts which is has issued about scams.  All alerts issued by the DFSA may be accessed by going to Alerts

The DFSA has also issued warnings and guidance about the common types of scams perpetrated on consumers. For more information on these scams, please go to How to avoid being scammed

The DFSA encourages consumers to refer to the list of regulated Firms and Authorised Individuals licensed by the DFSA that is available on the DFSA's Public Register

If you have any concerns about the authenticity of any correspondence or documents that purport to be issued by the DIFC, DFSA or a DFSA-regulated Firm, you should direct your concerns to the DIFC on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on Complaints