The FCA warned investors about TBFX Limited on 2 August 2019, identifying it as a clone of the authorised firm XTB Limited. TBFX was not authorised or registered by the FCA, even though it appeared to target UK consumers while claiming to be authorised.
The warning named www.tbfxtrades.com. It did not accuse XTB of being unauthorised or unsafe. Instead, it warned that TBFX had no connection with the genuine XTB business and may have used genuine company information to make the fraud appear credible.
What the FCA warning says about TBFX
The FCA’s warning describes “TBFX Limited (clone of FCA authorised firm)” as an unauthorised entity. The firm was not registered or authorised to provide financial services in the UK, despite presenting itself as a legitimate regulated business.
The website recorded in the warning was www.tbfxtrades.com. The FCA cautioned that clone firms can use several sets of false details, or combine real details belonging to an authorised firm with fake contact information. That means a website displaying a genuine company name, address or FCA reference number is not automatically genuine.
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The warning is an FCA record from 2 August 2019, not a new 2026 alert. It remains relevant because the FCA’s warning identifies the impersonation and the checks consumers should make when approached by a supposed investment firm.
TBFX was impersonating XTB Limited
The genuine firm named in the FCA warning was XTB Limited, which had FCA Firm Reference Number (FRN) 522157. The FCA stated that XTB had no association with TBFX.
This distinction matters. The warning did not say that XTB Limited was an unauthorised firm. It said that TBFX was using or supplying information associated with XTB in an attempt to look legitimate.
Contemporaneous broker-monitoring reports said that the TBFX website copied elements of XTB’s branding, website layout, company information and trading-account presentation. Those descriptions come from secondary reporting, rather than findings set out in the FCA warning itself. Separately, Spain’s CNMV warned on 10 February 2020 that TBFX TRADES and tbfxtrades.com were not authorised to provide investment services in Spain and were not related to the XTB entity operating there.
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Do not rely on the name “XTB”, an FCA number, a logo or a link supplied by a salesperson. Use the FCA’s own website and compare the details independently.
- Type the FCA website address into your browser yourself and open the FCA Firm Checker.
- Search for XTB Limited, rather than using a search result or link sent by the caller.
- Select the type of product or service being offered.
- Confirm that XTB is authorised for that specific service.
- Compare the telephone number, email address, website and other contact details shown by the Firm Checker with the details supplied by the person contacting you.
The FCA says that checking an FRN alone is not enough. A clone can copy a real firm’s FRN, so the contact details and permissions must also match. The Firm Checker and Financial Services Register are updated on average every 24 hours. A caller who says the register is “out of date” should not be given the benefit of the doubt.
Check that you are using the genuine FCA website. Fake sites can make small changes to the address of the Financial Services Register or Firm Checker. Do not assume that a website is legitimate simply because it appears at the top of an online search.
Current XTB details versus the details in the old warning
The FCA’s 2019 warning included historical contact information for XTB, including Level 34, One Canada Square and the telephone number 0203 695 3085. Those details should not be treated as XTB’s current contact information.
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| Detail | Current information |
|---|---|
| Legal name | XTB Limited |
| FCA FRN | 522157 |
| Company number | 07227848 |
| Address | Level 9, One Canada Square, Canary Wharf, London, E14 5AA |
| Official website | www.xtb.com/en |
| Account Management | +44 (0)20 3695 3085 |
| Technical Support | +44 (0)20 3695 3086 |
| UK service email | [email protected] |
Companies House currently records XTB Limited as an active private limited company. Its registered office is recorded as One Canada Square, Office 9.14, Level 9, Canary Wharf, London, E14 5AA. A Companies House filing records an update to the registered-office address on 10 March 2026.
Use these details as a cross-check, not as a substitute for the FCA Firm Checker. A scammer can copy current company information just as easily as historical information.
Why the FCA Warning List is not enough
You can search the FCA’s Warning List using the “Search for names of firms” field and the “Search” button. The page also provides “Clear filters”, alphabetical filters and a sortable “Name” column.
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TBFX appearing on the Warning List is a serious warning. However, not finding a firm there does not prove that it is legitimate. The FCA may not yet know about a scam, or the operators may be using a different name. Firms can also change names and websites.
The primary question is whether the firm is authorised for the service being offered and whether the contact details match the FCA’s record. The Warning List is an additional check, not a clean bill of health.
What protection could be lost?
If a consumer deals with an unauthorised firm, the FCA says they will not have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme on that basis. If the money disappears, recovery may therefore be difficult.
Protection for an authorised firm depends on the investment and service involved. FCA authorisation does not mean every product is automatically covered. XTB’s current UK information says eligible clients may have FSCS protection of up to £120,000, subject to the relevant eligibility rules and claim conditions. That statement relates to the genuine authorised XTB entity; it does not protect money sent to TBFX or another clone.
What to do if you have been contacted or paid money
- Stop communicating with the supposed firm until you have independently verified it.
- Do not send further deposits, “taxes”, withdrawal fees or recovery payments.
- Contact your bank or card provider immediately using the number on your card or statement. Ask whether a payment can be recalled and report suspected fraud.
- Save emails, messages, telephone numbers, payment records, wallet addresses, account screenshots and the website address.
- Report the matter to the FCA through its contact form or by calling 0800 111 6768.
- If an authorised firm’s identity has been cloned, the FCA provides a firm helpline at 0300 500 0597.
The FCA warning does not itself establish a criminal conviction or court judgment, and it does not establish whether the TBFX website is currently active. It records the FCA’s position that TBFX was unauthorised and presented itself as an authorised firm.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.FAQ
Was TBFX authorised by the FCA?
No. The FCA said TBFX Limited was not authorised or registered by the FCA. It described the entity as a clone of the authorised firm XTB Limited.
Was TBFX the same company as XTB?
No. The FCA said TBFX had no association with XTB Limited. It was identified as an entity using information associated with the genuine firm.
Does the FRN 522157 prove that a website is XTB?
No. FRN 522157 belongs to XTB Limited, but clone firms can copy genuine reference numbers. You must also compare the firm’s permissions and contact details in the FCA Firm Checker.
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Is the FCA TBFX warning new?
No. The warning was first published on 2 August 2019. It remains available as an FCA warning record but should not be described as a new 2026 alert.
Is XTB currently FCA authorised?
The genuine UK entity is XTB Limited, FCA FRN 522157. Check the FCA Firm Checker directly for the current authorisation status, permissions and contact details before dealing with anyone claiming to represent it.
What should I do if I sent money to TBFX?
Contact your bank or card provider immediately, ask whether the payment can be recalled, preserve all evidence and report the matter to the FCA on 0800 111 6768 or through its contact form.
The Bottom Line
Bottom line: TBFX Limited was not an FCA-authorised broker. The FCA identified it as a clone of XTB Limited and named tbfxtrades.com in its 2 August 2019 warning. Never verify an investment firm by its logo, website, caller or FRN alone: use the FCA Firm Checker, confirm the exact service and match every contact detail before sending money.
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