Innovation Pro Trade Scam Warning: FCA Warned Forex Platform
A fake forex platform warned about by the FCA on 17 October 2024, which deceives investors by using a false address
🚨 Urgent Warning
Innovation Pro Trade is a fraudulent platform officially warned about by the Financial Conduct Authority (FCA) on 17 October 2024. The platform demands large sums from investors without providing any real investment service. It tries to conceal the fraud by using several domains (innovationmaxtrade.pro, opensignalsinnovation.pro) and a related clone platform (innovatexcapital.pro).
FCA Warning Date: 17 October 2024
⚠ Dangerous Features
- Use of a False Address: To look like a legitimate institution, the platform uses an address in London (20-22 Wenlock Road, N1 7GU). This address is not linked to any institution authorised by the FCA.
- Multiple Domains: A single fraud operation is run through several domains:
- innovationmaxtrade.pro
- opensignalsinnovation.pro
- innovatexcapital.pro (related clone)
- Clone Entities: Innovation Pro Trade deceives customers by copying the name of a legitimate firm called "InnovateX Capital Limited" (FRN 1014933). The clone platforms have no connection with the original firm. InnovateX Capital Limited has no connection with this scheme; its name is being misused.
- Contact Details:
- Phone: +17134821849 (US phone number)
- Email: [email protected]
- Address: 20-22 Wenlock Road, London, N1 7GU (false)
- Crypto and Wire Transfer Payments: Deposits are requested by untraceable methods such as Bitcoin and wire transfer.
- Obstacles to Withdrawal: After the first deposit, customers who request a withdrawal are told that an additional payment or a "transaction fee" is required.
📊 Type of Fraud and Technique
Platform Names: Innovation Pro Trade, InnovateX Capital (clone)
Main Domains: innovationmaxtrade.pro, opensignalsinnovation.pro, innovatexcapital.pro
Claimed Regulation: FCA licence (FALSE)
Claimed Founding Date: 2023 (could not be verified)
FCA Warning Date: 17 October 2024
| Information | Detail |
|---|---|
| Phone | +17134821849 |
| [email protected] | |
| Address | 20-22 Wenlock Road, London, N1 7GU (false) |
| Related Clone | innovatexcapital.pro (clone of InnovateX Capital Limited - FRN 1014933) |
| FCA Licence | 🔴 None (Fraud) |
| FCA Warning Status | 🔴 Warned (17 October 2024) |
Regulatory Check: Innovation Pro Trade is not licensed by any financial regulator. It is not authorised in Türkiye by the Capital Markets Board (SPK) and does not appear on the list of brokerage firms licensed by SPK. It is on the FCA's official warning list.
✅ How the Scheme Can Be Recognised
- Contact coming from the phone number +17134821849 or the email address [email protected] is linked to this scheme.
- The address 20-22 Wenlock Road, London is widely used by Innovation Pro Trade and similar fraudulent platforms, so a forex platform citing it is a warning sign.
- Clone platforms that use the name of legitimate firms such as InnovateX Capital Limited (FRN 1014933) are a recognised pattern. The contact details of the real firm are entirely different.
- The legitimacy of a firm can be checked in the FCA Register. A legitimate firm is listed there with a Financial Reference Number (FRN) assigned by the FCA.
- Platforms that ask for payment by crypto or wire transfer rely on methods that are difficult to reverse.
- Contact details (phone, email, address) obtained from suspicious platforms are the traces through which such operations are identified.
- Further information about this platform can also be reported to the FCA at [email protected].
❓ Frequently Asked Questions
I deposited money with Innovation Pro Trade. What are the options?
Answer: Further payments are typically requested under new fee labels, and the transaction records are the main evidence in such cases. For detailed information and legal support, you can contact Savun Law & Consultancy.
How can the legitimate InnovateX Capital Limited be told apart?
Answer: The FRN of the legitimate InnovateX Capital Limited is 1014933. It can be verified by searching for this number in the FCA Register. The fraudulent version (innovatexcapital.pro) is not licensed by the FCA.
Why is the Wenlock Road address used by fraudsters so often?
Answer: Although 20-22 Wenlock Road, London is a real address in London, it is not itself a legitimate financial institution. Fraudsters use real addresses without any regulatory documents in order to look legitimate. A financial institution is never verified on the basis of an address alone.
What is the legal route for a platform that the FCA has warned about?
Answer: Investors who have suffered a loss with a platform warned about by the FCA typically gather their records and seek advice from local legal advisers. Legal action against international fraud can be complex, but it is possible.
Questions & answers · Istanbul Bar Association 75235
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Have a question? Attorney Veli Savun answersThis page is an English adaptation of our Turkish article Innovation Pro Trade Forex Dolandırıcılığı.
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