First Spear Capital Scam: FCA-Flagged Clone of a UK Firm

First Spear Capital is the name used by firstspearcapital.com, a site offering crypto, forex and share trading that leans on the registration details of a genuinely operating, authorised financial firm in the United Kingdom. The UK Financial Conduct Authority (FCA) announced on 12 November 2026 that this scheme is a "clone firm".

🎭 Which Company Is Being Imitated?

According to the FCA warning, the site copies the details of Spear Financial Limited, registered under FRN 480111. The real company is based in Bakewell, Derbyshire, and uses the address spearfinancial.co.uk; it has no connection with firstspearcapital.com, and the real Spear Financial Limited has no legal entity in Türkiye. The clone scheme has neither an address nor an FRN of its own in the FCA register.

🔍 Phone and Domain Details

• Phone: +44 7822 108074 (listed in the FCA warning as belonging to the clone firm).
• Domain: firstspearcapital.com, registered on 5 August 2026; the warning was published about three months later.
• Products offered: trading accounts on cryptocurrencies, currencies and shares.

🚩 How Is Money Collected on Clone Sites?

In schemes of this kind, the person reached by an advertisement or a phone call is shown a company number that appears to exist genuinely when searched online. After the first deposit, profit is written on the panel; at the withdrawal stage, new payments come up under the name of tax, verification or commission. The presence of a British mobile number and a real company's register details on the same site is a trust element that clone schemes often use.

🔗 Other Platforms Using the Same Method

Other sites, for which the FCA has issued clone warnings, that take on the identity of real companies:

🧭 The Route for Recovering Money

Offering unauthorised investment services to persons resident in Türkiye is penalised as unauthorised capital markets activity under Article 109/2 of Capital Markets Law No. 6362. Authorisation status can be seen in the SPK list of authorised intermediary institutions. To follow the money, the routes for a refund from a foreign firm and, for international transfers, the possibility of a SWIFT recall are assessed.

For detailed information and legal support, you can contact Savun Law & Consultancy.

❓ Frequently Asked Questions