I think fake. I am comparing it to the one on my wrist right now:

1) The writing is not sharp. It should be extremely precise. In your photo it seems like a poor stamp job.

2) The logo is way to obscure and not pressed far enough into the case. Even if it got scratched, the deeper part should still be clean. Yours is not.

3) I can almost make out weld spots on the right side of the safety clasp. Also the edges are rough. Mine is flawless in both these areas.

4) The top of the second link closest on the six o'clock side is rubbing. None of my links touch any of the other links that way.

5) The case, by the 9 o'clock should have a tiny word stamped into it. It should be visible in your photo. I can't make out what it says without a magnifying glass though.

Without being an expert, I am quite sure that it is a fake.
TZ.