Domhnall Gleeson, Toby Kebbell, Eddie Redmayne and Sam Riley are all in contention to play the reboot's signature villain.
The actor is taking on the role of Johnny Storm in this reboot, which has become a point of controversy because of his race.
Matthew Vaughn goes onto explain that this will be a true reboot of the Marvel property, and has nothing to do with the previous two movies.
The recently announced actor believes that fans will see the movie with or without an African-American Johnny Storm.
Kate Mara is the Invisible Woman, Miles Teller is Reed Richards, Michael B. Jordan is Johnny Storm and Jamie Bell is The Thing in the reboot.
Kate Mara and Emmy Rossum have tested for The Invisible Girl, while Christian Cook has auditioned for the role of Ben Grimm in this Marvel reboot.
Director Josh Trank is quick to call this latest rumor false, with no other actor yet mentioned for the Ben Grimm character as testing begins this week.
The reboot appears to be following the Ultimate Fantastic Four story line. Auditions are being held for every role except Johnny Storm.
The star of That Awkward Moment teases big changes for the Marvel franchise while confirming that he did audtion for Lucasfilm.
Michael B. Jordan is reportedly attached as Johnny Storm, though the studio has never confirmed any casting for this Marvel reboot.
Fantastic Four and Terminator: Genesis begin shooting this March and April. Jurrasic World starts production this June.
The movie was said to be based on a 1987 mini-series. Past comments from Marvel consultant Mark Millar confirm this is not happening.
Production is scheduled to begin in March 2014 on the superhero reboot. No cast members have been confirmed at this time.
The actor will begin filming the Divergent sequel Insurgent in April. Will this keep him from becoming Mr. Fantastic?
The actress is said to be up for a role opposite Michael B. Jordon, who might play her brother. The actress does not confirm her involvement.
Sources from within the actor's agency reveal that the Fruitvale Station star has boarded the reboot. 20th Century Fox hasn't confirmed the news yet.
Jack O'Connell and Miles Teller are also testing for Reed Richards. Right now, Michael B. Jordan is the only actor wanted for Johnny Storm.
Josh Trank is directing and producing this superhero remake alongside producers Matthew Vaughn and Cliff Lanning.
While both franchises will take place in the same universe, the characters will not share the screen any time in the near future.