http://www.britishbadgeforum.com/for...8&d=1203092420
This is a 100% genuine one from the 1940s for comparsion. Bear in mind that the same badge was worn for a number of years so there will be variances.
I suspect that yours compares a little too closely to the fakes sold on ebay. If it matches them then it is indeed a copy.
http://cgi.ebay.co.uk/THE-FIFE-AND-F...d=p3286.c0.m14
This fake matches yours and despite what the seller says I doubt that it is an 'original' die.
http://cgi.ebay.co.uk/British-Cap-ba...d=p3286.c0.m14
Lugs are never a good sign on this badge.