⚠️ Scam reports are user-submitted and verified before publishing.
How to Indentify Scam Brokers
Unrealistic Promises
If it sounds too good to be true, it probably is — avoid brokers offering guaranteed high returns like 1000% ROI.
Fake Licensing
Scam brokers often claim to be licensed in shady jurisdictions or display fake certificates to gain your trust.
Aggressive Account Managers
Beware of pushy agents who pressure you to deposit more or take risky trades with no proper explanation.
Withdrawal Issues
One of the biggest red flags — delays, excuses, or complete refusal to let you withdraw your funds.
Fake Bonus Terms
Some brokers offer attractive bonuses with hidden terms that trap your funds and block withdrawals.
What To Do If You’re Scammed?
Stop All Communication Immediately
Scam brokers use psychological tactics to keep you engaged and extract more money.
Action:
Block all phone numbers, emails, and chat accounts used by the broker.
Do not respond to follow-up calls or “recovery agent” offers (these are often additional scams).
Gather and Secure All Evidence
Why: You’ll need proof to report the scam and possibly recover your funds.
Action:
Take screenshots of all conversations (email, chat, WhatsApp, Telegram, etc.).
Download your account history, payment receipts, deposit confirmations, and transaction IDs.
Record the broker’s website URLs, social media profiles, and any phone numbers or emails used.
Report the Scam to Financial Authorities
Why: Regulatory bodies may investigate or blacklist the broker — and your report helps others stay safe.
Action:
Report to the appropriate authority based on your country or region. Some global options:
FCA (UK), ASIC (Australia), CFTC (USA), CySEC (Cyprus), ESMA (EU)
You can also submit reports to local police or cybercrime unit and the broker’s payment processor (if applicable)
Report the Broker to Us
Why: We maintain an active Scam Broker Blacklist and warn our community in real-time.
Action:
Use the Scam Report Form on this page to send us:
- Broker Name
- Description of Scam
- Amount Lost
- Supporting Evidence
- Contact Info (optional for follow-up)
Alert Others & Spread Awareness
Why: Sharing your story could save someone else from losing their money.
Action:
Leave reviews on platforms like Trustpilot, Forex Factory, Investing.com, Forex Peace Army, and Google.
Share your experience on Reddit, Telegram groups, or YouTube (if you’re comfortable).
Ask us to publish an anonymous case study on our blog to expose the scam publicly.
Avoid “Recovery Scam” Offers
After you’ve been scammed, you might be contacted by fake “fund recovery agents” promising to get your money back — for a fee.
Warning: These are usually secondary scams targeting already-victimized traders.
Only deal with licensed financial legal services, and do proper research before paying anyone to recover your funds.