How to Spot a Fake Crypto Exchange

Key takeaways

A real licence number on a fake site is the standard technique, not an edge case.
Regulators publish warning lists naming impersonating firms — check them.
Nobody legitimate needs remote access to your computer.
Guaranteed returns are the one claim that is always a lie.

How the clone works

A clone firm copies a licensed company's name, branding and registration number onto a site at a slightly different domain. When you check the number, it is real, because it belongs to the real firm. The check passes and the reassurance is entirely misplaced.

This is common enough that regulators maintain public lists of them. The FCA register, searched for well-known crypto brands, returns unauthorised firms trading on those names alongside the genuine entries — which is why every venue review on this site publishes the clones we found next to the real registration.

The checks that actually work

In order of how much they tell you per minute spent.

Search the register for the entity name, then compare the domain and contact details listed there against the site you are on. A mismatch is decisive.
Search the regulator's warning list for the brand. Clones are named there explicitly.
Check the domain's age. A weeks-old domain for a brand claiming a decade of history settles it.
Look at how you found them. Legitimate venues do not recruit through direct messages, dating apps or investment groups.
Try to withdraw a small amount early. Scams process deposits flawlessly and stall withdrawals.

The signals that are always fatal

Any one of these ends the conversation, regardless of how professional everything else looks.

Non-negotiable red flags
Signal	Why it settles it
Guaranteed or fixed returns	No regulated firm may promise this. None.
A fee required to withdraw	The recovery-fee stage of the scam
Remote access to your device requested	No legitimate venue ever needs this
Pressure to deposit before an expiring offer	Urgency exists to stop you checking
Payments to a personal account or a named individual	Client money is never handled this way
An 'account manager' trading on your behalf	Discretionary management requires a separate permission

If you have already deposited

Stop sending money immediately, including — especially — any fee demanded to release a withdrawal. That fee is the scam's second stage, and paying it never releases anything.

Report it to your national financial regulator and to the police. Then be aware of the recovery scam: people who lost money to fraud are frequently approached by 'recovery specialists' who are the same operation returning for a second pass. No legitimate recovery service asks for an upfront fee.

Frequently asked questions

How can I check if a crypto exchange is legitimate?

Search the regulator's own register for the exact registered entity name, not the brand, and compare the domain listed there with the site you are on. Then search the same regulator's warning list for the brand name.

The website shows a real licence number. Is it safe?

Not by itself. Cloning a genuine number is the standard technique. What matters is whether the domain and contact details on the register match the site in front of you.

Can I get my money back after a crypto scam?

Sometimes, if you acted within hours and the funds moved through a compliant venue that can freeze them. Report immediately to your bank, the venue and the police. Never pay an upfront fee to a recovery service.

Are exchanges advertising on social media legitimate?

Some are. But scam operations advertise heavily on the same platforms, and being served an ad tells you nothing about authorisation. Verify on the register regardless of where you found them.