Gain Capital Holdings is a scam trading platform you should avoid at all costs. Operating under the domain “gchltduk.com”, this fraudulent entity came to the attention of the UK’s Financial Conduct Authority(FCA) in 2023.
The UK financial services firms and financial markets regulator, in September last year, warned that Gain Capital Holdings, Inc is a clone of a capital market company going by the same name.
It reported that the fake Gain Capital Holdings Inc, which operates under the domain “gchltduk.com” is designed to look identical to the real Gain Capital Holdings whose current domain is stonex.com and the previous domain was (gaincapital.com).
The latter is an online provider of retail foreign exchange trading and related services. The Company provides customers with access to the global over-the-counter foreign exchange markets through a trading platform with information and analytical tools. It serves customers globally.
Calling on investors not to deal with this clone firm, the FCA further pointed out that scammers sometimes will copy the details of authorized entities to try and convince investors that their entity is trustworthy.
Interestingly, this dubious entity initially operated under the domain “gaincapholdings.co.uk”. However, after it got exposed by the FCA, it dropped that domain for the current domain “gchltduk.com.”
How To Not Confuse Between The Fake and The Real Gain Capital Holdings
It is easy to mistake the cloned Gain Capital Holdings website for the authentic one. However, armed with the following knowledge, you’ll be able to distinguish between the two entities effortlessly.
1. Consider The Domain Names and URLs
First, know the domain of the legitimate Gain Capital Holdings trading platform. It’s currently “stonex.com.” You are probably wondering why the domain name doesn’t reflect the company’s name.
Well, it’s worth noting that GCH was acquired two years ago by a company known as StoneX Group Inc. Operating under the domain stonex.com, StoneX is a financial services conglomerate with focus in the following areas:
- Foreign exchange, securities, and physical commodities.
- Global payments.
- Clearing and execution services.
- Commercial hedging.
Further, it’s an American-owned and publicly traded group of companies with the NASDAQ trading symbol “SNEX.”
All its acquired companies, with GCH being one of its latest acquisitions, operate under the domain “stonex.com.” GCH’s initial domain, before the acquisition, used to be “gaincapital.com”. This domain URL currently redirects you to stonex.com.
What is the symbol of Gain Capital Holdings, Inc? It’s interesting to see that GCH even has a stock symbol as a legitimate entity. It’s “GCAP” and it’s recognized on several stock market platforms.
When it comes to the cloned website, it currently operates under the domain “gchltduk.com.” If you encounter this domain, be aware that you are dealing with a scam trading platform designed to defraud you. Initially, the site operated under the domain “gaincapholdings.co.uk” until it was exposed by the UK’s Financial Conduct Authority, prompting a switch to a new domain.
Please note that stonex.com is not associated with gchltduk.com, even though both entities operate under the same name, “Gain Capital Holdings Inc.” The latter is a clone website of the former, posing as a legitimate trading platform despite being designed to defraud investors.
2. Pay Attention To The Phone Numbers
Second, know the phone numbers of the legitimate entity and those of the fake, clone entity. The former’s mobile number is +44 20 3580 6000 (for its London-based office). On the other hand, the latter’s numbers are +44 20 7197 2304 (mobile) and 0207 197 2304 (landline). Apparently, the company only has an office in London.
3. Consider The Physical Addresses Of Both Gain Capital Holdings Entities
Third, know the physical addresses of both companies. The real Gain Capital Holdings, Inc, is registered in the UK with a physical address at 58 St Katharine’s Way, London, United Kingdom. The clone firm claims to be, as well, based in the UK, supposedly at 1 Knightsbridge Green, London, SW1X 7QA.
Please note that this fake trading firm has no association whatsoever with the real trading platform(stonex.com).
Report A Fake Broker To Your Financial Regulator
Have you lost your funds to the fake Gain Capital Holdings scam group or a similar entity? If so, and you have proof of payment(s), go to this page to report the broker and pursue your money. Or send an email to scamread@scamreader.info.
Gain Capital Holdings, Inc & My Final Verdict
Dear investors, there are two identical entities named Gain Capital Holdings. One is a legitimate trading platform whereas the other is a clone of it. The former operates under the domain name “stonex.com” whereas the latter operates under the domain “gchltduk.com.”
The individuals behind this clone trading platform, obviously scammers, have gone to great lengths to mimic the real trading platform to confuse unsuspecting investors. They’ve been contacting traders everywhere while pretending to be a legitimate firm and it’s unfortunate that many traders have fallen victim.
While the fraudsters falsely claim its name, the real Gain Capital Holdings Inc isn’t associated with the clone firm, which operates under the domain gchltduk.com, in any way. If you deal with this entity thinking that it’s the legitimate one, you’ll definitely lose money.
FAQ
1. Why are some customers praising the clone trading platform(gchltduk.com)?
Answer: Those are unscrupulous individuals paid by the scammer(s) to pose as happy and satisfied clients. They are not real customers.
2. Does the entity behind the clone platform have another scam trading platform?
Answer: We can’t rule it out because, in our experience, scammers will run multiple fraudulent sites at any one time.
3. Why can’t the authorities just go to their physical address in London and arrest them?
Answer: It’s likely a fictitious physical address.