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author Written by
Rex John Walsh
author Fact checked by
Sangram Mohanta

Last Updated on June 1, 2024 by TOP FOREX BROKERS REVIEW

Forex Scam Brokers List 2024 ( 500+ Fake Forex Brokers List )

forex scams, forex trading scams, fake forex brokers list, list of forex scams. scam brokersForex trading is one of the legitimate ways to earn some extra money, perhaps a profession for many. The $6.6 trillion market is growing every day, and forex scams or forex fraud are also on the rise. Therefore, it is necessary to know every detail about the forex trading scams. Most importantly, you need to know the ways to identify scam brokers. Our expert team have identified 500+ fake forex brokers list that you need to avoid. Go through our list of forex scams and stay safe.

While you research for the forex scammer list, it is also necessary to find the best forex broker for safe trading. But if you can categorize the fake brokers, finding safe brokers will not be a problem. Therefore, we will share everything about the scammers as well as the things to look for to avoid scams.

The number of forex scams you can find with just a straightforward search on Google is shocking. There are plenty of forex trading scams criminals out there who wait for novice traders so that they can defraud them. In a market where over $6 trillion moves daily, there are bound to be people who want to take advantage of honest traders.

The forex trading scams you will find are usually simple and prey on the gullibility of people and the need we all have, to make more money. There are significant types of forex scams that exist. Knowing what they are will help you avoid them. 

What are Forex Scams or Foreign Exchange Fraud?

Forex scams or foreign exchange fraud is a kind of trading scheme the targets the traders to defraud them. The scammers usually convince the forex traders by offering high-profit expectations from the trading market. Fraudulent activity in the currency market became common in early 2008.

Typically, scam brokers put the trap on traders in different ways. The main goal of those brokers to lure the money. However, if you get lucky, you might stay safe. So, it is important to know the types of scams and the ways to avoid them.

Scam Brokers List

FX NextGenwww.fxnextgen.comOffshore license
Caliburwww.caliburcapital.netNo license
Titan FXwww.titanfx.comOffshore License
FTE FXwww.ftefxpro.comOffshore License
Prime XBTwww.primexbt.comOffshore License
Traderswaywww.tradersway.comOffshore License
MidasGlobewww.midasglobe.comNo License
Kronosinvestwww.kronosinvest.comNo license
Binomowww.binomo.comOffshore license
Circleforexwww.circleforex.comNo license
First BTC FXwww.firstbtcfx.comNo license
EssenceFXwww.essencefx.comOffshore license
EvisionFXwww.evisionfx.comNo license
RickGlobalwww.rickglobal.comOffshore license
RCM FXwww.rcmfx.comOffshore license
247SmartFxwww.247smartfx.comNo license
Traderiawww.traderia.comOffshore license
FX Options24www.fx-options24.comNo license
JustForexwww.justforex.comOffshore license
TBFXwww.tbfxtrades.comNo license
MGM Marketswww.mgm-markets.comNo license
OlympusMarketswww.olympusmarkets.comOffshore license
Sure Forex Tradewww.sureforextrade.comNo license
CFreservewww.cfreserve.comNo license
Fernwww.fuerfx.comNo license
Capital TradeFXwww.capitaltradefx.comOffshore license
FX PREMIUMwww.fx-premium.comOffshore license
Pari Fx Tradewww.parifxtrade.comOffshore license
InvestTeckwww.investteck.comNo license
Aduno Capitalwww.adunocapital.comNo license
S&P Brokerwww.snpbroker.ioNo license
Capital88www.capital88.comOffshore license
4xincomewww.4xincome.comOffshore license
TopTradeProwww.toptradepro.comOffshore license
Go Capital FXwww.gocapitalfx.comOffshore license
Swiss Investment Fxwww.swissinvestmentfx.comOffshore license
Smartoptionfxwww.smartoptionfx.comNo license
Globalixwww.globalix.comOffshore license
Libra Marketswww.libramarkets.comNo license
Monfexwww.monfex.comOffshore license
iFXOPTIONwww.ifxoption.comNo license
GoldFxTradingwww.web.goldfxtrading.comOffshore license
GoTechFxwww.gotechfx.comOffshore license
Ultrontradefxultrontradefx.comNo license
FXIG Tradeswww.fxigtrades.comNo license
4xpremiumwww.4xpremium.comNo license
TurboForexwww.turboforex.comOffshore license
Swissinv24www.swissinv24.comOffshore license
Golden Key Prowww.goldenkeypro.comOffshore license
UproFxwww.uprofx.comNo license
GoldmanCFDwww.goldmancfd.comOffshore license
GCG Asiawww.guardiancapitalag.asiaNo license
Trade Global Marketwww.tradeglobalmarket.comNo license
AZ Tradeswww.aztrades.comOffshore license
IC Financewww.ic-finance.netOffshore license
69Brokerswww.69brokers.comNo license
TraderURwww.traderur.comOffshore license
WandaFxwww.wandafx.comNo license
SeRex Investmentswww.serexinvestments.comNo license
Tradepro Capitalswww.tradeprocapitals.comOffshore license
KayaFXwww.kayafx.comNo license
PTBancwww.ptbanc.comOffshore license
Millennium FXwww.mnmfx.comOffshore license
Kapitalfxwww.kapitalfx.deNo license
PRIMEXQwww.primexq.comNo license
Obsbitwww.obsbit.comOffshore license
SwiftCFDwww.swiftcfd.comOffshore license
BlueMax Capitalwww.bluemaxcapital.comOffshore license
ItradeFXoptionwww.itradefxoption.comNo license
70Tradeswww.70trades.comOffshore license
Capital Hallwww.capitalhall.comOffshore license
K2 Wall Streetwww.k2wallstreet.comNo license
CapitalFXclubwww.capitalfxclub.comNo license
Worldwide CapitalFXwww.worldwidecapitalfx.comOffshore license
TradeInvest90www.tradeinvest90.comOffshore license
ADN Marketswww.adnmarkets.comOffshore license
Hugoswaywww.hugosway.comOffshore license
Brokerzwww.brokerz.comOffshore license
Trading Epicwww.tradingepic.comNo license
FXNobelswww.fxnobels.ioNo license
Swiss Capital license
Lockwood Investmentswww.lockwoodinv.comOffshore license
CFDpremiumwww.cfdpremium.comOffshore license
MegaTradeFXwww.megatradefx.comOffshore license
ProFxPremiumwww.profxpremium.comOffshore license
Dax300www.dax300.comOffshore license
FXLeaderwww.fxleader.comOffshore license
Blue Tradingwww.bluetrading.comNo License
Trader.Onlinewww.trader.onlineOffshore license
Ace Forexwww.acefx24.comOffshore license
GxFXhttps://gxfx.comNo License
Forex Grandhttps://forexgrand.comOffshore License
BTCHOMEwww.btchomemining.comOffshore License
FXtrade777www.fxtrade777.comOffshore license
AitsFXwww.aitsfx.comOffshore license
ZeegosFXwww.web.zeegos.onlineOffshore license
Citifxmarketswww.citifxmarkets.comNo license
Finbitexwww.finbitex.comOffshore license
Golden Financialwww.gdfxuk.comNo license
MaxiTradewww.maxitrade.comOffshore license
FXLinkedwww.fxlinked.comOffshore license
Ideal Global Tradingwww.fxideal.comNo license
VolumeFXwww.volumefx.comOffshore license
The55thFxwww.the55thfx.comNo license
KapitalSwisswww.kapitalswiss.comNo license
ZonggangCaifuwww.zgangfx.comNo license
Phy Capital Investments Limitedwww.phyfx.comNo license
eMarketsTradewww.emarketstrade.comNo license
Esplanadehttps://esplanade-ms.comOffshore License
Admiral-Markets.comhttps://www.admiral-markets.comNo License. Clone Firm.
Bex Optionswww.bexoptions.comNo license
Affliated Trade Groupwww.affiliatedtradegroup.comNo license
Kingston Tradinghttps://kingstontrading.comNo License
Wigmarketswww.wigmarkets.comOffshore license
City Global Tradinghttp://www.cityglobaltrading.comNo License
Option94www.option94.comNo License
TheCryptoLimitedhttps://www.thecryptolimited.comNo License
Pro X Financewww.proxfinance.comOffshore license
Circle Marketshttps://circlemarkets.comOffshore license
Pinprotradewww.pinprotrade.comOffshore license
NewSolidwww.newsolid.comNo license
Cointeckwww.cointeck.ioNo license
OneLifewww.onelife.comOffshore license
UKFinvesthttps://www.ukfinvest.comOffshore License
Emporio Tradinghttps://emporiotrading.comOffshore License
EasyTradehttps://www.easytrade.bizNo License
Chrono FMhttps://www.chronofm.comNo License
OMC Marketswww.omcmarkets.comNo License
CFD Trendwww.cfdtrend.comOffshore License
Easy FX Tradewww.easyfxtrade.comNo license
United FCGwww.unitedfcg.comNo license
Financial.orghttps://financial.orgNo License. Negative Reputation.
CCM Clearinghttp://ccmclearing.comNo License
OriginalCryptohttp://www.originalcrypto.comNo License
4xCube4xcube.comOffshore License
Bitalonghttps://www.bitalong.comNo License
Your Trade Choicewww.yourtradechoice.comOffshore license
FinmarkFXwww.finmarkfx.comOffshore license
LiteFinTechwww.litefintech.ioOffshore license
TradeLTDwww.tradeltd.comNo license
ForexChiefhttps://www.forexchief.comOffshore License
KryptoWizehttps://www.kryptowize.comNo License
BigOptionhttps://www.bigoption.comOffshore License
Golden FXwww.golden-fx.comOffshore license
Solidary Markets FXwww.solidarymarkets.comNo license
DCA-Financehttps://dca-finance.comNo License
CryptoNettohttps://cryptonetto.comNo License
Daiju Commodity Marketshttps://www.daiju-cm.comNo License
GWITwww.gwitmarkets.comNo license
Europe Forex Investwww.eufxinvest.comOffshore License
Forex Birdswww.forexbirds.comOffshore License.
Blackstone500www.blackstone500.comNo License License
Royal GTXwww.royalgtx.comNo License
Premium Brokerswww.the-premium-brokers.netOffshore License
Uptoswww.uptos.netOffshore License
StarkMarketswww.starkmarkets.comNo License. Negative Reputation
Fx Option Trade247www.fxoptiontrade247.comNo License. Clone Firm.
TraderKingwww.traderking.ioOffshore License
AMarketswww.amarkets.comOffshore License
LionsFMwww.lionsfm.comOffshore License
WDC Marketswww.wdcmarkets.comNo License
Royaltd24www.royaltd24.netOffshore License
RoyalsFXwww.royalsfx.coNo License
Spectrewww.spectre.aiOffshore License
Concept4Xwww.concept4x.comOffshore License
FxFixedwww.fxfixed.comNo License
FINMAXwww.finmaxbo.comNo License
Videforexwww.videforex.comOffshore License
MetaFinanceTradewww.metafinancetrade.comNo License
Capital GMAwww.capitalgmafx.comNo License
Finqwww.finq.comOffshore License
SmartFXwww.smartfx.comOffshore License
AAG Marketswww.aagmarkets.comOffshore License
CVC Marketswww.cvcmarkets.comOffshore License
JustProForexwww.justproforex.comOffshore License
GoldenSkyCapitalwww.goldenskycapital.comOffshore License
Swissquoteswww.swissquotes.deNo License
Uniglobe Marketswww.uniglobemarkets.comOffshore License
CobraCFDwww.cobracfd.bizOffshore license
Elite Tradingwww.elitetrading.coNo License
Arum Tradewww.arumtrade.comOffshore License
FXprimewww.fxprime.ioOffshore License
AnyTradeswww.anytrades.comOffshore License
BrighterTradewww.brightertrade.comOffshore license
BK-Coin license
Capital Traders license
CryptoAllDay license
SpearTraderwww.speartrader.comNo license
TegasFXwww.tegaxfx.comOffshore License
Cryptonix Team License
Cyber FX License
MCH Investment Strategieswww.mchinvestment.comNo License
CF Merchantswww.cfmerchants.comOffshore license
OneTradexwww.onetradex.comOffshore license
Evolution Brokerswww.evolutionbrokers.comOffshore license
4xFXwww.4xfx.comNo License
YFX Capitalwww.yfxcapital.comOffshore license
PrimeFXwww.pfx-bank.comNo license
AG Capitalswww.agcapitals.comOffshore license
Aleforexwww.aleforex.comNo license
CarterFSwww.carterfs.comNo license
Option888www.option888.comNo license
Parnassus Groupwww.parnassusgroupllc.comOffshore License
Primewww.hbblmw.comNo license
UBCFXwww.ubcfx.comOffshore License
Zuercher Capitalwww.zuerchercapital.comNo License
CFDStocks License
Aisawww.aisafx.comOffshore license
St Clair Capital Group License
PBN Trade License
Morgan Newfield License
By Tradinghttp://by-trading.comNo License
GSI Marketswww.gsimarkets.comOffshore license
RichmondFGwww.richmondfg.comNo License
FXmarket247https://fxmarket247.comNo License
Binary Uno License
OptionStars Global License
Goptions License
Welkronwww.welkron.comOffshore license
XtradeFX License
Jones Mutualwww.jonesmutual.comNo License
Swift Bit Optionswww.swiftbitoptions.comOffshore license
Rocket Consultant Groupwww.rocketconsultantgroup.comNo license
RCProwww.rcpro.comNo license
Extickwww.extick.comNo license
2dotswww.2dots.comNo license
GSFXhttp://www.gsfx.comNo license
10Brokerswww.10brokers.comNo license
Platinums Tradewww.platinumstrade.comOffshore license
Broker Yardhttp://www.brokeryard.comOffshore license
Shinsei Corporate Managementhttps://www.shinseisecurities.comNo License
Binatex License
LottMarket License
Finpari License
Empire Option License
BeAlgowww.bealgo.comNo license
Noble Capital House license
SoarFXhttps://www.soarfx.comNo license
OPCompanywww.opcompany.netNo license
Dax-300www.dax-300.comOffshore license
XEcrypto Bankxecryptobank.comNo License
Pearson Investments License
Dubai FXMwww.dubaifxm.comOffshore license
Asic Traderwww.asictrader.comNo license
TouchTradeswww.touchtrades.comNo license
CF Groupwww.forexcf.comNo license
Markets Xchangewww.marketsxchange.comOffshore license
NBR Trading License
RoyalCripto License. Negative Reputation
CK Marketsckmarkets.comNo License
TopstepFXwww.topstepfx.comNo License
PlusOption License
Financikawww.financikatrade.comOffshore license
PWRTradewww.pwrtrade.coOffshore license
CriptoRobotcriptorobot.comNo License
Point Investment Group License. Negative Reputation
Ayrexhttps://www.ayrex.comNo License
Fin-Tech Primewww.fin-techprime.comOffshore license
Trade Fintech License
iMarketsLive License
Nagaharu Global License
FxtPremiumwww.fxtpremium.comOffshore license
LatAm License
VTGFXwww.vtgfx.comOffshore License
VNC Brokerswww.vncbrokers.comOffshore License
Zend Tradewww.zendtrade.comNo license
OndaMarketswww.ondamarkets.comOffshore license
Inmarket FXwww.inmarketfx.comOffshore license
EyeLinewww.eyelinetrading.comNo License
Shtern Group License
TIXfx License
Invest Trader License
Option Expert License
24TradeRush License. license
Easy Line Prowww.easylinepro.comNo license
FX Merchantswww.fxmerchants.comNo license
Trades.comwww.trades.comNo license
TopTrade License
TeamFX License
HybridReservewww.hybridreserve.comOffshore license
Templer FXwww.templerfx.comOffshore license
Britonpricewww.britonprice.comNo license
WT Capitalwww.wt-capital.comOffshore license
Eminagewww.eminage.comNo License
ECMwww.ecmtrader.comNo License
Tallinexwww.tallinex.comNo License. Negative Reputation
UB4Tradewww.ub4trade.comNo license
Finodaxwww.finodax.comNo license
TradeTorowww.tradetoro.comOffshore license
GMFX24www.gmfx24.comOffshore license
Boom Xchangewww.boomxchange.comNo license
CapitalXPwww.capitalxp.comOffshore license
Roiteks License
365 FXwww.365-fx.comOffshore license
LVMexchangewww.lvmexchange.comOffshore license
4xbrandswww.4xbrands.comOffshore license
Big Boss license
PrimeCrypto License
Capital Swiss FXwww.capitalswissfx.comOffshore license
CFDs100www.cfds100.comNo license
Marketsplus license
Novatrades license
AMP Trading license
GFCInvestmentwww.amptradinggroup.comOffshore license
FXBreezewww.gfcinvestment.comNo License
CoinbrokerZwww.coinbrokerz.comNo License
Crypto Options License
TradesFXwww.tradesfx.comOffshore license License. Negative Reputation License
UFXwww.ufx.comOffshore License
MPlus Socialwww.mplussocial.comOffshore license
XtraderFXwww.xtraderfx.comNo license
IGOFXwww.igofx.comOffshore license
Vix500 License. Negative Reputation
DracoFXwww.dracofx.comNo License
Efexa1000www.efexa1000.comOffshore license
AlphaCapitalwww.alphacapital.capitalNo License License. Negative Reputation
Bormancorpwww.bormancorp.comOffshore license
HispaMarketswww.hispamarkets.comOffshore license
RC Global Financialwww.rcglobalfinancial.comOffshore license License. Negative Reputation of the Group. License.
LittInvestwww.littinvest.comNo License. License.
SigmaCFDwww.sigmacfd.comOffshore license
Markets Cubewww.marketscube.comOffshore license License
Prestige.FMwww.prestige.fmNo License
FXGIMwww.fxgim.comOffshore license
EuroPrime License.
AroTradewww.arotrade.comOffshore License
FXPrimeswww.fx-primes.comNo License.
XMarketswww.xmarkets.comNo License.
FXG Investwww.fxginvest.comOffshore license
InvestCitywww.investcity.comNegative Reputation.
Profit Tradewww.profit-trade.comOffshore license
Escuela Tradeswww.escuelatrades.comNo License
Primus Tradeswww.primustrades.comNo license
RaxoFXwww.raxofx.comOffshore license
EFXGlobalwww.efxglobal.comOffshore license
True4Xwww.true4x.comOffshore License.
GDM FXwww.gdmfx.comNo License. Negative Reputation.
Market License.
Up4xwww.up4x.comOffshore license
Master4xwww.master4x.comNo license
ECN Capitalwww.ecncapital.comOperates with No License. Negative Reputation.
Caesar Trade with No License. Negative Reputation.
TradeX1https://tradex1.comOperates with No License
HBC Brokerwww.hbcbroker.comOffshore license
PBN Capitalwww.pbncapital.comNo license
TorOptionwww.toroption.comOperates with No License with No License
InvestingPROwww.investingpro.comOffshore license
RoyalCFDswww.royalcfds.comOffshore license
XLR Tradewww.xlrtrade.comNon Licensed Operation.
ManagedForexHub Licensed Operation.
24StarTradewww.24startrade.comNon Regulated Broker.
31FXwww.31-fx.comOffshore license
365Marketswww.premium.365markets.comNo license
AGAM License. Numerous warnings.
Five Winds License. Numerous warnings.
TitanTradewww.titantrade.comOffshore license
AFX Markets Onlinewww.afxmarketsonline.comOffshore license
Getco license
BForexwww.bforex.comNo license
MyFintecwww.myfintec.comOffshore license
AlfaTrade License. Negative Reputation.
AAFX Tradingwww.aafxtrading.comOffshore company. Negative Reputation.
CloseOptionwww.closeoption.comLack of Regulation
Capitals Bankswww.capitalsbanks.comNo license
Wise Bancwww.wisebanc.comNo license
HiWayFXhttps://hiwayfx.comSuspended License. Suspicious Operations.
S2Tradewww.s2trade.comOperates with No License
PBN Investwww.pbninvest.comOffshore license
Fxcentralhttp://www.fxcentral.netNo License. Negative Reputation.
Capprofxwww.capprofx.comOperates with No License
Forex Optimumhttps://forexoptimum.comOperates with No License
KontoFXwww.kontofx.comNo license
Forex Swiss FXCHhttp://forex-swiss.comOperates with No License.
ACFXhttp://atlaseforex.comSuspended License. Negative Reputation.
Global Clearing Grouphttp://2pipsforex.comOperates with No License
FinPro Tradinghttps://finprotrading.comOperates with No License
GAINSYwww.gainsy.comOperate without License.
NetoTradewww.netotrade.comOperation with no license. Negative Reputation. license
Benchhill Partnerswww.benchhill.chNo license
Markets Brokerwww.marketsbroker.comNo License. Offshore Broker.
Yadixwww.yadix.comNegative Reputation
Trade Capitalwww.tradecapital.comNo license
AAAFxhttps://aaafx.comNumerous complaints.
iFOREXwww.iforex.comNon compliance
TradeDAXwww.tradedax.comOffshore license
GCI Financialwww.gcitrading.comNo License
Opportunity Tradewww.opportunity-trade.comNo License
TopicMarketswww.topicmarkets.comOffshore license
BrokerOfficialwww.brokerofficial.comNo license
Profiforexwww.profiforex.comNo License. Offshore Broker.
FxOnUs License
SuperForexwww.superforex.comOffshore license
Bulls Capital Marketswww.bullscapitalmarkets.comNo License.
FreshForex License.
LQDFXwww.lqdfx.comOffshore license
Capital Currency Tradewww.capitalcurrencytrade.comOffshore license
PaxForexhttps://paxforex.comNo License
GFBrokerwww.gfbroker.comOffshore license
FxGlorywww.fxglory.comOffshore license
Trade12www.trade12.comNo License
Fort Financial Serviceswww.fortfs.comLack of Regulation.
Stock Trade Investwww.stocktradeinvest.comNo license
InvestMibwww.investmib.comOffshore license
FxUnitedhttp://fxunitedglobal.comNo License. Scam operations.
Grand Capitalwww.grandcapital.netOffshore license
Capital Markets Banc CMBhttps://capmbeu.comNo License
FXC Marketswww.fxcmarkets.comOffshore license
TGC FXwww.tgcgroupfx.comNo license
Turnkey Forexwww.turnkeyforex.comOffshore License
BECFDwww.becfd.comOffshore license
Swiss license
ExpertOptionwww.expertoption.comOffshore License
Royal Capital Prowww.royalcapitalpro.comNo License
CentroBancwww.centrobanc.comOffshore license
Richmond Investingwww.richmondinvesting.comOffshore license
FXGiantswww.fxgiants.comNon Compliance
IronFXwww.ironfx.comNon compliance
KB Capitalswww.kbcapitals.comNo license
Crown license
UniTraderwww.unitrader.comOffshore license
FGS Marketswww.fgsmarkets.comOffshore license
XForexwww.xforex.comOffshore License
72optionwww.72option.comNo license
Banc De Monarchwww.bancdm.ioOffshore license
SGT Marketswww.sgtmarkets.comOffshore license
8888Marketswww.8888markets.comNo license
HQBrokerwww.hqbroker.comOffshore license
FXT24www.fxt24.comNo license
TradesPrimewww.tradesprime.comOffshore license
VFX Capitalwww.vfxcapital.comOffshore license
iForex24www.iforex24.comOffshore license
StarfishFXwww.starfishfx.comNo license
Investexwww.investex.comOffshore license
WorldFXMwww.worldfxm.comOffshore license
GreenFields Capitalwww.greenfieldscapital.comNo license
SimpleFXwww.simplefx.comOffshore license
1000 Extrawww.1000extra.comOffshore license
NordFXwww.nordfx.comOffshore license
Ostrich Capitalwww.ostrichcapital.comNo license
CM Tradingwww.cmtrading.comOffshore license
LMFXwww.lmfx.comOffshore license
Tradeview Forexwww.tradeviewforex.comOffshore license
UMOFXNo license
Gallant Financewww.gallantfinance.comOffshore license
FXChoicewww.myfxchoice.comNo license
TradeFTMwww.tradeftm.comNo license
Stern Marketswww.sternmarkets.comOffshore license
OnlyTradeswww.onlytrades.comNo license
Xinghui InternationalNo license
AVA Investmentswww.ava.investmentsOffshore license
FxFWaywww.fxfway.comOffshore license
TradeBNPwww.tradebnp.comOffshore license
Baihua Globalwww.bfmfx.comNo license
YesTradingwww.yestrading.comOffshore license
FSMSmartwww.fsmsmart.comOffshore license
AccentForexwww.accentforex.comOffshore license
Suisse Trade Centerwww.stcforex.comOffshore license
CMSTraderwww.cmstrader.comOffshore license
FXPremaxwww.fxpremax.comNo license
SwissCCIwww.swisscci.comOffshore license
Axe Investwww.axeinvest.comOffshore license
Forex4Youwww.forex4you.comOffshore license
TradeTimewww.tradetime.comOffshore license
Universe Markets FXwww.universemarketsfx.comNo license
12Traderwww.12trader.comOffshore license
Umarketswww.umarkets.comOffshore license
Utradewww.utrade.onlineNo license
JAFXwww.jafx.comOffshore license
uTraderwww.utrader.comOffshore license
Al Tradewww.alforex.comNo license
10Marketswww.10markets.comOffshore license
Caxton Globalwww.caxtonglobal-fx.netNo license
InstaFX24www.instafx24.comOffshore license
8inFXwww.8infx.comOffshore license
StoxMarketwww.stoxmarket.comOffshore license
TDMarketswww.tdmarkets.comOffshore license
Trade WFXwww.tradewfx.comNo license
Tait Investment Groupwww.taitinvestmentgroup.comNo license
FXG Tradewww.fxgtrade.comOffshore license
SolidCFDwww.solid-cfd.comOffshore license
GCC Investingwww.gccinvesting.comNo license
MarketTMwww.markettm.comNo license
MaxCFDwww.maxcfd.comNo license
BRFX Tradewww.brfxtrade.comOffshore license
Tradovestwww.tradovest.comOffshore license
CFD Corporatewww.cfdcorporate.comNo license
Pro TradeFXwww.protradefx.comOffshore license
Gulf FXwww.gulffx.coNo license
Time4Xwww.time4x.coOffshore license
100XFXwww.100xfx.comOffshore license
CT-Tradewww.ct-trade.comNo license
Everest International Group Ltdwww.everestinter.comNo license license
Bristol Consulting FXwww.bristolconsultingfx.comNo license
MarketGBPwww.marketgbp.comOffshore license
Tradeu2www.tradeu2.comOffshore license
CFD Royalwww.cfdroyal.comNo license
Meta Investingwww.metainvesting.comOffshore license
Xiaohangjia BrokersOffshore license
ISGXchangeNo license
Get FinancialOffshore license
Broker XPwww.brokerxp.comOffshore license license
Primus Forex Financial Groupwww.primusasia.comNo license
Bitex360www.bitex360.comOffshore license
Swiss Assets FXwww.sfmsas.netNo license

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Report A Scam Broker

    Types of Forex Scams

    Every time scammers get exposed and enlisted to the list of scam forex brokers, they invent new ways to lure people's money. Hence it is a never-ending process. But the basic scamming types remain the same. So, it would be great if you know the basic types. Hence, you can save your investment. Nevertheless, there are four types of broker scam available. Let's get educated about those.

    Forex Robot Scam

    The forex robots, use an algorithm, technical signals and computer code, to enter and exit trades. Expert advisors build them within MetaTrader 4 and other platforms. Some are legit. However, a lot of them are not. To be safe, always check the legitimacy.

    There are scam brokers lists online. Check them for listed forex robot scams. Signs to watch out for include:

    • Unrealistic marketing messages.
    • Unrealistically high percentage growth returns
    • Scalping strategies that lack diversity
    • Employing the services of unregulated brokers.

    Forex fraud is avoidable when you do due diligence and check out the candidates you choose to work with.

    The forex robot is basically a computer-made algorithm that is programmed in a way that can do trading-related jobs on behalf of the traders. Moreover, some robots can even help to make forex trading strategies.

    Usually, robots are your helping hand to make money. However, there are some robots that are good for nothing. Those forex scams robots cannot help you to increase your return. The creators would offer so many deals. But ultimately, you will not get any benefits out of it. The creators sell it anyway and promise big profits for the buyers.

    You will lose money through the scam robots in two ways. Firstly, you are buying a robot at a huge price. Secondly, the robot might provide you the wrong direction. Usually, this kind of robot is based on a computer system that finds a trading strategy from the past and shows you an opportunity to make a profit. But, actually, the robot is sending you the info happened in the past. Hence, you are not getting live information. As a result, you will be losing money in terms of investment. To stay safe from the robot scams, make sure you check the fake forex brokers list here on this page before jump for any lucrative offers.

    Forex Signals For Sale Scams

    Forex Signals are a sort of subscription to get selling or buying alerts for the forex trading market. Scamming through the forex signals is almost identical to the forex robot scam. The only exception is that you have to pay a regular subscription fee to buy and sell the alerts. Like the robots, signal scams required some kind of discretion from the trader.

    Typically, the trading signals work as a user guide for the traders that help the users to access the trading opportunities. Forex signal trading occurs when a signal provider sends the wrong signal even after taking the subscription fee. It is because the providers do not have the mechanism to create signals. They just send the signals to take the subscription fee from you. We have collected all the data about those signal scammers and added them to the list of fake forex brokers.

    In this version of forex fraud, you will be dealing with individuals who dole out trade ideas that include information like currency pairs, direction, entry price, stop loss and target levels. Always lookout for the following things;

    • Subscription fees. Always try out signals that have no paywall before you consider paying for anything else. Use them on demos to test them out.
    • Do not take broker-tied signals. Some will offer them but, you have to subscribe with a specific broker. That kind of thing is just a marketing gimmick.
    • Unverified claims of good results. If you cannot verify anything that they are telling you, they are most likely lying to you.

    As with the other kinds, there is a list of scam forex brokers that you can check out before you sign up for anything.

    Forex Trading Investment Scams

    There are many adverts online that promote forex trading investment scams and funds. They are very slick marketing campaigns and salespeople who sell you phantoms and unverified results of their fund. It is the ultimate forex pyramid scheme. So you need to find a best forex broker to start your secure trading.

    They ask you to send them an investment and then sit back and enjoy returns. If you send the money, you will never see the return. If you call, they will say they have never heard of you and never got funds from you.

    Checking the fake forex brokers list for these people can save you a lot of pain and trouble. They can do this or, they can open an account for you with a shady broker who is not regulated, and after two or even one trade, they will wipe out your account.

    They will blame it on the market when in fact, it is all in their company. Without regulation, it is near-impossible to get your money back.

    Pyramid Scheme

    It is a way to earn money by registering new paying members for a certain lucrative scheme. The theory is that the scheme owner doesn't trade, and the main source of income from the registration fees. So, whenever the new investor pays any fees, the owner earns money. Hence, the second layer of investors will then recruit more investors under them to earn a profit, for this reason, called a pyramid scheme. That's how the process will go on.

    So, the more investor you can collect, the more commission you can earn. The higher level of the pyramid you are, the more money you can earn when new recruiters join under your subordinates. This kind of investment does not actually create any value to your portfolio; rather, you slowly become a broker from the forex scam list. It is just taking money from other people and pass to a higher level and continue forex trading scams.

    The pyramid scheme is also called multi-level marketing (MLM). Nevertheless, this kind of scheme is totally illegal. So, if anyone or any brokers tries to attract you through it, you should avoid it. To identify such schemes, you can check out the fake forex brokers list.

    Forex Ponzi Scheme

    Ponzi schemes are usually a type of fake investment management firm. Unlike the pyramid scheme, people don't pay any fees. Instead, the investors will put their money into a scheme. The owner will attract the investors to invest through a forex expert or guru. The experts are also known as forex money managers.

    However, there is a real forex money manager who works with regulated best forex brokers and trades for the clients using the clients' funds. So, the Ponzi scheme act to work like that, but they don't make any investment after getting the investment. Instead, the schemer will make payment to early investors after taking investment from other investors who invested later. If the schemer gets continuous investors, the system will run like that. But you don't need to worry about scamming by the Ponzi schemes as we also put them on the list of scam forex brokers. 

    Indirect Forex Scams

    Apart from the main forex scams types, we have mentioned above, there are some other types of forex scammer list out there too.

    Point Spread Manipulation

    It is a computer-manipulated bid-ask spreads offering that favors the broker. It usually occurs by increasing the spread of bid and sell price to 7 to 8 pips, while the regular spread is 2 to 3. Through this tempering, the broker can earn money, and the trader loses. However, this kind of scam is largely available in the USA, but some offshore brokers may also run these scams.

    Fake Brokers

    If you are unsuccessful with a broker, it doesn't identify the broker from the fraud forex broker list. Sometimes, a bad relationship with the broker or emotional attachment may lead you to a loss. But these situations are totally fine and normal. But there is still a list of fake forex brokers who offer nothing to the traders, and you cannot make a single penny from them.

    Signs of the fake brokers are.


    If a broker lacks enough capital to cover the trades, the trader will surely lose money. However, it is not a direct scam activity. Lack of liquidity increases the risk of bankruptcy; thus, the trader's money remains at risk.

    Price Slippage

    The difference between the expected price and the actual price is called price slippage. Usually, when a broker initiates a trade, it offsets a somewhat identical position to reduce the risk. Then the broker makes the trade for the second position when the offset position is known. If the offset position is better, the trader's position should be better too. Alternatively, if the position is worse, the trader will also face the same. But the scam brokers will not pass the profit to the trader earned from the better position.


    Usually, brokers earn a commission from trading activity. Therefore, brokers tend to work on unnecessary buy or sell or influence traders to trade to earn commission from trading. This kind of activity is known as churning.

    Prohibiting from Withdrawal

    Usually, the traders should have access to their funds all the time. However, some brokers may put restrictions on accessing the fund. If you cannot access your fund when needed, you might be going to face trouble. This kind of policy is a red flag while choosing the broker.

    Commingling of Accounts

    If you invest through a managed fund, you don't have control over your money, and you might not be able to track your money. Therefore, the broker might use your fund for their own purpose. However, the true regulated broker allows you to track your fund in the managed account.

    Now that you know the types of basic forex scams, you should know the ways to identify them via the scam broker list.

    Identifying the Forex Trading Scams

    As you know, scammers always change their scamming strategy to continue their dishonest practice. Nonetheless, there are a few kinds of stuff that can work as a clue to understanding a scam.

    Provide Guarantee to Success or Huge Profits

    Since you came to know about the forex scams, you already have a significant idea about the forex market. Therefore, you should know that forex is extremely volatile, and it can be changed through too many factors. Nothing is fixed in this continuously changing market. Hence, no one can guarantee anything in the forex, not even guarantee huge profits. So, if anyone tells you about guaranteed profit or success through the forex trading platforms, they certainly put a trap to scam.

    Unsolicited Marketing

    It is another way to identify fraudulent behavior. Persistent and unsolicited marketing falls under this. If you see some broker push you to purchase a service or a product within a short period of time and information, it can be a good sign that the broker may turn out as a scammer. No broker should or can push you to buy something. So, you have to be careful if such a broker has personal information from you. It is because you may become a victim of identity theft. If you feel anything pushy and uncomfortable, you should do that immediately.

    No Background Information

    Usually, the best forex broker has substantial proof of their service. However, some brokers may show you screenshots or pictures of the different charts to prove themselves, which are super easy to make. Scammers follow a technique. In this case, they never show the losses; they only show the profits. So, whenever you ask about the background info about a specific period from those charts, they will certainly fail to produce.

    Nevertheless, it is possible that they show a chart from the demo account. And, if you are new to the forex industry, you may fall for it. So, it would be wise if you don't rely on such limited information. Before taking any decision, ask the brokers about their background and proof. If they refuse or take a long time, or remain vague, it can be one of the forex scams!

    Protecting Yourself from Scam Brokers

    If you are a newbie in forex investing, you will surely find it hard to differentiate between a realistic trading scenario and an unrealistic one. The only thing you can check initially with the list of forex scams. Further, for the advanced level, you can check the regulatory body as well as check with more scam brokers forex list available online. But you rely on our list of scam brokers. Although checking the regulation is not the full proof strategy, it will help you at the beginning stage.

    Checking the regulators will help you to keep yourself away from the Ponzi or pyramid schemes. Below is more detail about protecting from the fraud broker list.

    Check Reviews

    You have the internet in your hand. Hence, you can easily find information about a broker online. So, you should check the reviews of the intended broker, service, or even the signals before you decide to pay for it. But you have to be careful while checking forex broker reviews as there are some fake reviews too. You may check the reviews for our site or check the reviews from real users in different forums or social media.

    Check the Location

    Due to globalization, any broker can operate anywhere in the world. So, the offshore robots or the brokers that are created through unnamed entitles are likely not to be regulated. This means you may not get full support from them in case of technical difficulties. And if they turn out to be forex scams, you will not get your money back. Moreover, you cannot even file a complaint about a certain list of forex scams as they are not local and are not regulated.

    Generally, it is safe to choose a broker or forex trading platforms from your country. It is because you can verify them physically. Also, you should have a better idea about your country. However, it is not obvious that offshore traders are always pursuing scammers. You just need to verify them properly before signing up.

    So, it is highly essential to know a broker's or service provider's location along with the headquarters. Also, check the regulatory status based on their location.

    Regulators to Check to Identify the List of Forex Scams

    Forex does not have a central regulation, and different countries or parts of the world have different regulations. Nevertheless, the goal for all the regulators is to ensure the safety of the trader. That being said, let us know the details of different regulatory bodies based on the location.

    • USA Regulators: the USA is very strict about forex trading scams. Therefore, they have several regulatory organizations to protect the traders from scammers. The Community Futures Trading Commission (CTFC) is a government agency that also works as an independent entity. It works as per the Community Exchange Act to prevent any sort of fraudulent activity.

    National Futures Association (NFA) is another US regulatory body that works as a self-regulatory body in the USA to deal with forex.

    BASIC – The Background Affiliation Status Information Checker (BASIC) is a free service from the NFA that allows traders or investors to check information of specific companies or persons. Hence, it is the best way to check forex scams in the USA.

    • UK Regulators: FCA – The Financial Conduct Authority (FCA) is a regulatory organization in the UK. It regulates and provides licenses to all the brokers operates in the UK. So, if your broker is located in the UK, you can check their data and verify through the FCA. This can also help you to identify the fake forex brokers list UK.
    • Other Regulators: Apart from the USA and UK, there are other forex regulatory bodies too. You may search for the regulatory bodies from a specific country. Nevertheless, Australia, Germany, Cyprus, Austria, New Zealand, Dubai, and South African have their own regulatory bodies. If you find any broker from those countries, you can easily search for their regulatory status.

    Besides, other countries also have regulatory entities; you just have to find them based on your intended broker. Most importantly, a huge percentage of forex scammers are located in African nations. So, make sure you check the fake forex brokers list South Africa if you come across an unknown broker.

    Ask for a Proof

    When a broker offers a lucrative service, you should ask for proof. Relying on the brokers' presented data can be vague. Hence, you might ask for more proof of their claims. That's how you can protect yourself from the list of forex scams brokers. If the broker can produce reasonable proof, you may get convinced. However, this technique should not be applied by newbies.

    Educate Yourself

    The best way to stay away from robot or signal scammers is to learn forex. Educate yourself about forex trading scams, so that you don't need to rely on anyone else. You can become your personal advisor by learning forex trading. Even this can help you to identify fake forex brokers list too.

    So, take as much as education on the forex market, currency behaviors, news reports, etc. By learning the trading, you can surely verify all those bold claims by the brokers we have mentioned earlier.

    To educate yourself, you can consider creating a demo account with any regulated best forex brokers. Furthermore, with your education, if you can identify a scam, don't forget to report forex scams to the proper authority.

    The Common Ways the Scam Brokers Attract their Victims

    Forex trading scams usually mimic the sales approaches of a reputed broker or investment firm. Thus, it becomes difficult to identify who is real and who is included in the fake forex brokers list. But the contacting method of the forex scam list and the real broker remains the same. Therefore, you may get a phone call, email, mail, or even a referral. Many regulatory brokers also use the same methods. Therefore, you may forget to check the background of the broker or organization that contacted you. Let's see more detail on the common method to contact you by the scam brokers.


    It is the most conventional way a seller reaches out to the customers, and forex brokers are no exception. You might get a call from a broker that is included in the fake forex brokers list or investment firms with all the lucrative offerings. The offers could be so real that you might fall for them.


    You may also get a series of emails to explain their offers for you. Even most of the time, you will get free trading offers too. Well, the real traders also do the same sometimes. So, you can identify the scam brokers by checking their names with the regulatory body.


    Some fraudulent sellers from fake forex brokers list sends the offerings to a bona fide mailing list. Usually, this mail includes an immediate pitch to earn money from forex overnight. Again, check their name and verify with the proper authority.


    Sometimes some forex trading scams take a step ahead to look more real. They use newspaper or magazine advertisements to attract the traders. In this way, they are not calling you or asking you to register with them. Instead, you are going to them by your will. Before you fall for such advertisements, you have to conduct an investigation before investing.


    It is one of the oldest methods. Through this way, a forex scammer list of brokers will come closer to you through your friends and family. Initially, they will provide huge profit to a trader and then ask them to recruit more investors by offering referral money. So, the person will then tell his friends about the profit and make them believe. That's how the forex scams through referral work.

    Reputable Business

    Some forex trading scams are more real. Through the profits from previous forex scams, they take posh offices and decorate professionally and introduce themselves as a reputable investment firm. Further, they might sponsor the local charity.

    However, at this point, it is difficult to identify if the broker is included in the list of forex scams. But you can check the duration of their business and their financial statements. Further, you can also check each individuals' details from different sources. And obviously, the regulatory body will be the first option of your source.

    Techniques Used by the Broker Scam

    Scamming techniques vary from time to time. The scam brokers use multiple techniques to compete with their forex scams. If one technique fails, they go for the next one, and they continue trying until they get a fruitful one. Following are the most common techniques for forex scams.

    Low Risk or No Risk

    To act as real, some advanced broker from the list of forex scams may come across to you and explain about low risk or even no risk about trading. However, most of the time, the pitcher will tell you about the low risk instead of no risk. Then gives you time to rethink. And, it is possible that you will trust them as they give you time explaining about no risk at all. It is a simple technique played by the brokers to gain your trust.


    The forex scams broker might push you with urgency. For example, they will open up an exclusive offer for a limited time. Hence, if you don't sign up or buy within a certain time, you might not get it. It is because the scammer wants your money as quickly as possible. They remain in a hurry so that you cannot manage any time to think. So, you may fall due to the urgency without thinking.

    However, the real broker will never show your urgency. So, if you feel any urgency from a broker, it is likely to be one of the scam brokers.

    Offer Large Profit

    Usually, forex scam listed brokers offer a reasonably large amount of profit that looks real. Usually, the offerings are not unrealistically huge, so that you can trust them easily. So, if you have proper education on forex, you can identify the offering and decide for yourself.


    The pro-level scammers sound confident about trading and show a good knowledge of particular trading activity as well as alert you about forex trading scams. As a result, you become confident about your investment and fall for them. Usually, this technique makes you understand that they are doing you a favor by offering you the investment opportunity, and you are lucky to have them. Normally, this kind of scammer doesn't show any kind of urgency.

    Sometimes, scammers refuse to give you the investment opportunity so that you request them. It is another way to gain trust.

    Information You Can Ask to Turn off Forex Scammers

    It is normal to get offerings from different forex brokers. But you will not know if the broker is categorized as a broker scam or not unless you ask for some information from them. You may ask for the following information to check the broker's validity.

    • Try to find out how they get your name.
    • Risks on their proposed plan.
    • Written explanation of their investment policy.
    • Ask them to talk to your attorney or financial advisor.
    • Location of the organization.
    • Name of the related officers.
    • Ask for references.
    • Written risk disclosure statement.
    • If the offering is validated by the regulated exchange.
    • Regulation's information, including the license number.
    • Track record.
    • Duration of the business.
    • Ask for another representative
    • Ask about their commission and fees.
    • Liquidation process
    • Dispute resolving process.

    Despite all the precautions and education, you may still lose money from forex scams. In that case, what should you do?

    Things to do if You are a Victim of Scamming 

    It is nearly impossible to recover your money from scammers. If you get scammed, the only thing you can do is report forex scams to the regulatory body or proper authority. Thus, the regulators can alert the traders and brokers about the scamming organization. However, in some cases, your money might get recovered if the authorities can find the scammer.

    That is why we suggest not to trust any broker initially and check the forex scam list first. Instead, you can make a small investment to check them out. Further, you may also make a series of small investments to validate the broker scam activity.

    Red Flag Checklist at a Glance

    • Unbelievable profit claims
    • Do not show live trading data, instead show the historical data only
    • No relevant performance info
    • Ask for a large investment
    • Unregulated offshore office
    • Claims to offer a secret formula
    • No contact details on the brokerage page
    • Poor reviews

    scam broker

    Avoid Dishonest Brokers At All Costs

    If you detect just one lie when looking through a broker’s credentials to see if they can be the one for you, just run away. There are multiple fake forex brokers lists that you can look through to make sure that if someone is a fraud, you know who they are.

    Foreign exchange regulationThe regulatory bodies of the world are an excellent place to start. They include:

    If a broker says that they are regulated, check that out here and make sure that you do not fall into these traps from dishonest brokers.


    Why You Need To Be Educated on Forex Fraud

    Forex trading in itself carries many high risks and losses are almost always inevitable. Retail speculators are continually trading without enough capital by using high leverage and gambling addiction.

    Speculators who trade without skill are playing against the whole market, which has near-infinite capital, and they almost always go bankrupts because of this lousy strategy.

    To be fair, a large number of forex scam cases are a result of weak trading and not scam brokers. If you spent more time developing a proper trading methodology, you would become better and quicker in your decision making.

    When you are a trader, you cannot afford to make mistakes. Always stay ahead of the curve by getting correct and useful information.

    scam broker list

    Final Thoughts

    The increasing rate of forex scams makes the traders doubt the real brokers too. Therefore, many potential traders refrain from forex trading activity. If you are one of those potential traders, you may check all the 500+ scam brokers we have listed here. Moreover, we also have honest forex broker reviews on different regulated forex brokers from all over the world.

    DO NOT trust the ridiculous claims by the scam brokers. Instead, check the list of scam brokers and stay away from them.


    Whenever a new scammer emerges in the forex market, we add them to the scam broker list on this page. So, if you see any new broker, you can look that out here. Furthermore, if you know any forex trading scams that are not listed here, send the information to us and report forex scams; we will add them up.


    Top Rated Premium Forex Signals Services

    Top Rated Premium Forex Signals Services


    1. Rex on December 23, 2020 at 3:22 AM

      I was scam by a broker that i want to report it here. Can you please let me know how to proceed ???

    2. Wanda B Henry on December 28, 2020 at 9:53 AM

      Scam Details:

      Broker Name: Fx Compress Crypto

      I think they could be a scam; I paid 1000 that they said I would get 29000 I bitcoin 15%commission and they still not release my 29000 than they as for 3750 for a forex license and said again they would pay me then asked for 3750 for a VIN and then 2600 for payment to bank over 20,000 and gave guarantee letter after that they would send my withdrawal than still no withdrawal they want another 1500 for conversion. They promise they gonna wire my money I have it all in writing and they do not keep their side of the deal. Are they a scam?

      I just don’t want to send anymore more money without confirmation they are not a scam.

    3. Andrei on December 28, 2020 at 11:42 AM

      Scam Details:

      Broker Name: MRG-SS

      These scammers use different social channels to find their victims(eg. Tinder). MRG-SS platform is a fake and all operations you will try to do as well. They just steal your money, then block your account and extort money to unblock it. They will offer you insurance(for the safety of bitcoin operations) to withdraw your money.

    4. Marites Indoy on December 28, 2020 at 11:47 AM

      Broker Name: Louis Douglas Bradley

      Investment scam.

    5. Carlos aguilar on December 29, 2020 at 10:26 AM

      Scam Details:

      Broker Name: Marilyn Powell

      i put $500 to invest then after 1 day she asked me to add more money she askwd me o put $4000 i said no i said just try with $500 then shes lke how about $1500 i said no or maybe then she put it on the platform bu i told her maybe or i was gonna think about it so i contavted their support and tbey said that i was short on profit so i said ok il add those extra $1500 so evrrything went well my profit came out to be $53000 so when it came to my withdrawal the support said i have to purchase a withdrawal code it was $3200 am like but u dodnt tell me of a withdrawal code i was pissed so i bought it ok they gave m ethe code and when i finaly withdew my money nothing happened i put every detail of my bank acCcount and nothing then i contacted the support to say what happened and he said u have to purchase an insurance fee and security fee to link up my bank which was $1800 am like i dont have more money i ran out those are all my savings now they dont want to returm my money which is $5700 total am sooo pissed off and stressed anybody help me.

    6. Angio P. on December 29, 2020 at 10:28 AM

      Scam Details:

      Broker Name: uprofx

      Please stay away from this company as much as possible. I have Been trading with them for 5 years and I can say I lost a lot with them. The account manager assigned to me was constantly manipulating me and advising me to make bad trade choices so I lose money only for me to find out that my losses were beneficial to my account manager and the company. I still didn’t mind then until they finally closed my account and restricted me from withdrawals after I made a very huge deposit. It was really divesting and heartless losing all my fortune to this company during this pandemic. I couldn’t bear the loss so I had to search for a way to get my money back at least something. I expose this broker as much as I can so I can help other victims or intending victims out there.

    7. Sukosd Erika on December 29, 2020 at 10:30 AM

      Scam Details:

      Broker Name: Edward Taylor

      After requesting a withdrawal, the broker asked me for more commissions and I can’t manage to get the withdrawn money. After I paid the first requested commission in the amount of $ 780, I was told that in 24 hours the money will be on the card, but instead of money in 2 days, I received another payment notification in the amount of 421 Euro.

    8. Najaf Abbas on December 30, 2020 at 10:14 AM

      Scam Details:

      Broker Name: IQ Option

      I fund my account via Skrill for two or three days i made trades and made 317$ and the next week IQ Option made 317$ fake trade in my account and Made my Balance Zero…
      they are the scammer please avoid such type of brokers.

    9. Richard on January 5, 2021 at 8:09 AM

      Scam Details:
      Broker Name: Raceoptions

      I invested and till now I can’t withdraw my account profit and balance. They are now asking me about a signal fee. It’s a big scam.

    10. Chen Zhang on February 1, 2021 at 7:29 AM

      This is a scammer!!!! Bit Exchange Trade
      Invested with $300 and then asked to pay another 433 usd for signal, and the end my profit went up to $29500,imposibble.So broker said have to pay 2850 tfor COCC-cost of currency converter, soooo i paid for it thinking now ill able receive my profits. However then the broker said i have to pay 2850 usd to clear my VAT, its like international taxes,,,And this time i didnt paid for it…Please stay away from this platform.

    11. CompareThem Fx on February 25, 2021 at 12:46 PM

      Great Post!!Thanks for sharing the Forex Scam Brokers List.

    12. Saurabh S Pavadashetty on March 7, 2021 at 5:39 PM

      Thank you so much dear for your great information helped us very much to safe our money love you ?

    13. Gary Harold on March 16, 2021 at 9:41 AM

      Broker Name:
      Lost all my savings to this guy. He is working with CrestForex.
      Everybody should stay away from this guy!
      Can provide full evidence.

    14. Jenny on March 22, 2021 at 6:38 AM

      Broker Name: Richness Empire Forex
      I met a guy online and taught me how to trade. The investments were good and I was earning a lot. invested $600 dollars. I was able to withdraw some of it but when my money grew to $1000 they won’t allow me to withdraw my money. They ask to pay for an overdraft that was withdrawn from my account. I didn’t even receive the money. They blocked my account and now they are slowly deducting money from it. They say that the only way is to deposit $3000 into my account, which is hilarious, so I can withdraw my money.

    15. Harry on March 22, 2021 at 11:21 AM

      They claim to make money but you have to pay a fee to withdraw your funds !
      Name: bitcoinminingsignals

    16. Jack on March 22, 2021 at 11:25 AM

      Beware Scam!!!!!
      (Magking Limited Hong Kong) Technology Co., Ltd.
      The scam broker on Forex is called: MagkingLimited-Live

    17. Stephen Neto on March 23, 2021 at 11:24 AM

      I opened an online broker account with East Century Group Ltd
      First of all I need to know if they are legit.
      I lost all my account funds on one trade when a candle moved 120 points.
      How is that possible?

      I traded a Buy for Eur/Usd on 3/22/2021 around 11am EST.

    18. Morgan on April 3, 2021 at 6:57 AM

      Scam Broker Name: TCM Financial Services
      On the 26th of March 2021,i registered with this company after being made to believe that will get profits in some few days. I deposited usd$106 into different web wallets. To my surprise the guy on live chat called Jim asked me to deposit more money of which i declined.Upto day i can not see my account.

    19. Jon A on April 10, 2021 at 10:16 AM

      Broker Name: Lexatrade.They don’t allow you withdraw from your account. Rather they will tell you to trade to a certain limit before you can withdraw. Before you get to that limit they will cut your channel of communication with them

    20. Alex on April 10, 2021 at 10:18 AM

      Broker Name: SageFX. I Traded and made $33,000.00. I have only traded 4 months. I did a great trade and started to notice higher and higher commission. The commission came up like ants. I wanted to take the money out of the account and it was the weekend. I kept getting error messages. There wasn’t any help to go to. The money was gone by the next morning. Now the account says i have $245.00 in it and that was not enough to trade. So I have not been back on that website since. $33,000.00 would have changed my life. I will do it again. But on a real broker. Another thing I worry about is the fact that you have to give your personal information and identification before getting the account. Will they sell my info and worst.

    21. Raymond on April 10, 2021 at 10:33 AM

      Platform: crypto expert trading. They made me to pay money into to the Standard bank account then they said they will trade for but they will take 10% from my profit so l made the money right after that l wanted to withdraw the money after that they said l should pay broke before l get my profits.

    22. Carlos Pereira on April 25, 2021 at 6:57 AM

      Capital Way, claimed a bug in the system caused wrong trades and all funds lost

    23. Eric Frank and Moana Margaret of Smarter fx trade on April 25, 2021 at 7:02 AM

      I invested $100. Then they said before I get my profit, I have to verify my id first cost $400 before I get my profit. I asked them if after i paid for verification, can I get my money? They said yes,but after that, they send email again that I need to pay OCC worth $800, but i paid only $500 because Eric Frank said he will lend me money to complete the amount. He lied,Margaret Moana the Ceo, asked me how much I paid for OCC? Eric frank instructed me to tell her i paid $100 only, so means they are doing fraud already. Then Moana take over and said Eric Frank is doing fraud. So she promised that She will give me my profit immediately. but I need to pay again for COT worth $700. I asked her why there’a a lot of payment? She said it is the last payment and my profit will automatically reflect on my bank account. So I paid again, but after paying it, I got email again from their company that I have to pay for the Auto Bot management so that my money will reflect on my bank account. She lied. Eric Frank. Moana Margaret and their company are doing fraud and scam because they still not send my profit after a lot of payments because they want me to pay $1000 for tax again. Don’ t trust smarter fx trade. It is scam and fraud. The 2 brokers are expert in convincing just to get money from their investors.

    24. Mary Smith on April 25, 2021 at 7:18 AM

      Broker Name: First and for most I had met this person it’s a friends friend. So I felt a little better about the situation. She asked if I would like to invest in bitcoin mining which Iv heard of and Iv invested in bitcoin. So it started with $500 my profit went up to $8,000 then they asked for another $700 to close the trade. I than said let’s just trade again till I can come up with the $700. She then said it’s best if you withdraw but let’s just run it anyway but you’ll have to top up. Ok so I gave $100 profit went up to $23k I was like wow. Then they asked for more money to pay for a code because the profit was so high so I kept falling into the trap mostly because I had met this person. Same thing kept happening $6k later they finally say ok we are depositing money now. They send $10 and ask for another $700. That’s when I called it quits.

    25. Nisan on April 25, 2021 at 7:28 AM

      Fake address informed on site, all operations are fake. Company does not exist. Broker: Apptrader – RT Global ltd.

    26. Makey on April 25, 2021 at 9:39 AM

      Broker Name: fxcl. They provide credit then widrawn in the middle of trading so it stopped trading. they promised can be used for trading but actually not.

    27. Genoveva Salome on April 25, 2021 at 9:42 AM

      Broker Name: Forexliteoption. Asking forex investment with a minimum of P3, 000.00 promising to earn P12, 000 in 12 hours..

      After you deposit 3000 thru GCASH what reflects in your trading account is 250 dollars or more then until it will be 550 dollars but you cannot withdraw your money.

      Later, they convinced me to add another 240 dollars and then I can withdraw anytime.

      Because I have no money to add my deposit.. Later, the 550 dollars in my account was lost.

      I dont know now how to recover my money..

    28. Kelly on April 25, 2021 at 9:46 AM

      Broker Name: Ubanker. I got a call from banker last year 2020 April persuading me to invest $200 and make $25,000 even without having a prior knowledge of forex trading. I confessed to them that I have no trading knowledge and I have never traded before. They assure me that they are going to guide me to earn $200. After much push I decided to give it a try as they promised to help. Within couple of hours my $200 was reduced to $20. The following day they called and asked me to put more money there a better opportunity they will help me to get. I invested and my money went down and they called requested more money till I lost over $5000 and the remaining $300 they took it from the account saying it is bonus they gave to me. I will be glad if you can help me recover my hard earned money they took from me.

    29. Peter on April 26, 2021 at 4:18 AM

      MFIP GENESIS GROUP (former 365 global markets) is a big scammer.
      Everyone just try to stay away from this company.

    30. Hussein on June 13, 2021 at 9:25 AM

      The broker “” himself he is in Kenya. High profit returns and before you can withdraw your profits they ask for a upfront payable commission of the company of 20%. They take your investment deposit and the commission.

    31. Rajarajan on June 13, 2021 at 9:35 AM

      As I have came across a forex broker , they are having SVGFSA IB number and doing forex business in offshore name in India
      when I asked about their LP and when i cross checked with their given details it was all fake
      so kindly review this broker and expose them if they are scam
      thank you

    32. SYDNEY NDLOVU on June 13, 2021 at 10:08 AM

      I was convinced to join a broker by the name TRADERVC , they seemed to be in the UK . After depositing the money they told me that my money was lost in the field , yet they never told me that they will be doing the trading themselves not by myself. they also asked me to put more money so that they can gain the lost one but i refused. after that someone called again and said my financial manager died so he is now taking his place , i must put some money again to get back what was lost and the previous manager was not doing his job properly.

    33. Francis Maclean on June 14, 2021 at 9:37 AM

      Ive been defrauded for 0.45BTC by a place originally called bitcoinmining. Originally it was a small investment of $100usd. This was in Feb2020. I kinda fot about it then in june 2020. I remembered so i contacted them and they tell me my account is worth $25000usd. Now running the name and thats when the fees started. Well they got shutdown and are currently using the name and are now saying im owed $70000usd are are still asking for fees. I haven’t received a penny fr them and now they have moved to the UK. I DON’T know what to do
      I stop send money, but they still call and msg all the time. What are my options? And is they a way to recovery funds and pay only out of the recovered fund. I have screenshots of all BTC Sent and all wallet address.

    34. Sunil on June 14, 2021 at 9:45 AM



    35. Joonas Berger on June 14, 2021 at 9:56 AM

      I was traded with capital of 5000 pesos last may 23, 2021.and after the trade I made my successful withdrawal of $3500. But the support team said that due to high traffic volume they suspend my profit and they said I have to pay a fee of $600 .
      So I narrowed money to my brother and pay the $600.
      After a few days the support team sent me email that my profit was over boosted so I have to upgrade my trading account to their suggested level up upgrade. And I said that they deduct the $1000 Level upgrade from my suspended $5300 profit.
      But my broker said that cannot be possible. And I have only 6 days to produced the payment of upgrade level.
      So I doubted now.
      Please kindly checked it out for me. Scammer: Crypto FX Earners

    36. Stephen Spiteri on June 14, 2021 at 10:03 AM

      Ausforex hire brokers that victimized people’s accounts, Ausforex takes no responsibility to do anything about brokers’ wrongdoing. The broker told me a 15% commission on net profits, She signed me in Ausforex, she lost all my money, I found out she signed me up on a $60 per unit. I had asked her to fix the damage, she has ignored me, Ausforex will do nothing, to fix this. I have all the proof contents sent to Au forex, Is dishonest.
      Broker ID 5396810

    37. Siggi on July 5, 2021 at 11:08 AM scammer.

    38. Siggi on July 5, 2021 at 11:10 AM = scam – They want additional fee for signal, withdrawal.

    39. Gazib on July 16, 2021 at 12:01 AM

      They told I would start with PGK500 then they told me to upgrade my account with PGK1000 after I made the payment using my standard account they told me to make K3000 as COT fee.. Now I’ve already lost K1500 to that scammer.

    40. Mohammad Sharifuzzaman on July 16, 2021 at 1:49 PM is a scam broker.
      They will never let you withdraw money.

      For my case they disable my account and give below reply.

      We have figured out your account default. You guys did a scalping generated the profit transfer a fund from one account to second for trading which is against the broker policy. Hence we have disabled your account and that is why your withdrawal is also pending.

    41. Scott on July 28, 2021 at 3:40 PM

      Hello Peter,

      What kind of scam is MFIP Genesis doing?

    42. Nicole on August 2, 2021 at 2:43 AM

      IQTradeKing is scamming people. You can never withdraw your money. They ask for more money.

    43. Amit on August 10, 2021 at 6:24 PM

      Varot financial ( ) – It is fake broker, they manupulate the gold as happened with me. I buy xauusd at 1732 and within seconds it went to 1686 and i lost all the funds and it is also saying that i need to give them more money as account went to negative.. Could you believe in seconds xausud fall 48 points and after 1 minute it went again to 1732 where i bought. then I checked the charts of legit platforms, xauusd never fall it was at 1730 only. This happened to me on 9aug evening time, i checked trading platform chart as well, it never fall to 1686. It clearly means they fall it to make me lose my money. before this was happened i already put the withdrawal request which they are just saying that it is under review. i lost my hard earned money, i cried a lot. Just be aware of these scammers.

    44. kambiz Bahreini on September 12, 2021 at 9:28 AM

      Hi, I have opened one MT5 account in this broker and then charged my account as 5500USD . After one week suddenly my account filled with over 10 trades with very large lot numbers. In few seconds my account became call margin in front of my eyes ! You know, Only broker can do such things and only broker can profit by call margin one account. No one in this broker respond my emails and messages in whatsapp number they have introduced in their web site. I warn all people do care and not open any account in this broker. All the history pictures including charging account confirmations and opened trades with very large lot volumes are ready to show as evidences.

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