Name
blacklisted brokers

Type of Scam
blacklisted brokers

Year of Existence
blacklisted brokers

Country
blacklisted brokers

Name: Hugo Fx

Type Of Scam: Forex

Hugo FX is an online forex broker, established in August 2018. Hugo FX headquarters is situated in St. Vincent and the Grenadines. With over 50 currencies, 35+ cryptocurrencies and 170+ CFD including indexes, commodities, precious metals and stocks, the major red flag is that Hugo FX is not licensed nor regulated. Click here to read more

Name: Easy FX Trade

Type Of Scam: Forex

Easy FX Trade represents itself as an FCA-regulated broker that offers trading in a plethora of financial instruments on several trading platforms. Its clients are allegedly able to trade in forex, CFDs and also spread bets. Click here to read more

Name: IBC Cheque

Type Of Scam: Passive Income Scams

Cheque fraud is a dominant figure in the financial crime catalogue, most banks have a preventive system in place to flag a cheque that has any fraud characteristics in it but is sometimes fraudulent cheques get through the system. Click here to read more

Name: IFX Brokers

Type Of Scam: Forex Scam

IFX Brokers was identified to be operating under questionable and unethical methods due to their regulatory status and suspicious terms of service. So we recommend that you make your research before trading on their platform. Click here to read more

Name: GFX Broker

Type Of Scam: Forex Scam

GFX’s website indicated that it is registered in St. Vincent and the Grenadines under the name GFX International Limited, which means if you are not in Cambodia, you are operating with an offshore broker. GFX state in sits term of service that it follows Cambodia’s regulation. However, we checked the Securities Exchange Commission of Cambodia (SECC), and there was no company or brokerage named GFX International Limited. Click here to read more.

Name: AlphaBull Market

Type Of Scam: Unregulated Exchanges

AlphaBull Markets claims to be using cutting-edge technologies with advanced trading platforms to bring the future of trading online to traders worldwide. All these claims may seem exciting, but be warned that AlphaBull Markets is an unregulated, virtually anonymous website, which is suspected to be a scam. After close examination of their website, it is revealed that AlphaBull does not fall under any regulatory agency. Click here to read more

Name: EnivFX

Type Of Scam: Unregulated Exchanges

EnviFX is an offshore broker, which is a huge problem for associating trust with any forex broker. EnviFX seems to be using a broker registration from the Carribian ( Saint Vincent and the Grenadines), and as a forex trader, you should be skeptical of a broker that is not registered in our geographical location.

Name: Crypto Bravos

Type Of Scam: Cryptocurrency Scam

 Cryptobravos claims to be based in Chicago, USA; they have advertised themselves as both a cryptocurrencies trader and a mining platform. However, their service is currently banned in countries like Canada, and The British Colombia security commission has also issued a warning to the residents of British Colombia not to trade with CryptoBravos.ch is a huge problem for associating trust with any forex broker. EnviFX seems to be using a broker registration from the Carribian ( Saint Vincent and the Grenadines), and as a forex trader, you should be skeptical of a broker that is not registered in our geographical location. Click here to read more

Name: VidForex

Type Of Scam: Forex Scam

VidForex claims to be a CFD (Contract Of Difference), forex and binary options trader. VideForex was launched in 2017 by a brokerage in charge of establishing BinaryMat,. VideForex is an unregulated and unlicensed broker; this alone is a huge red flag because once you start trading with VideForex, you are at their mercy for the security of your funds. Since any regulatory body does not regulate them, VideForex can do anything with your funds. Click here to read more

Name: CDFX

Type Of Scam: Forex Scam / Unregulated Broker

CDFX website that it is owned and operated by a Dubai-based company named CD Capitals Limited. No information was found about this broker from the Dubai Regulator Financial Service Authority (DFSA) and the Central Bank of the United Arab Emirate (CBUAE). This further proves that CDFX is an unregulated broker. Click here to read more

Name: Ace FX

Type Of Scam: Forex Scam / Unregulated Broker

Ace FX is an unregulated offshore broker without any financial regulatory entity license. We have checked for the regulatory status of Ace FX from the site of appropriate regulatory bodies. Click here to read more

Name: Trade360

Type Of Scam: Forex Scam / Unregulated Broker

Trade360 is an unregistered and unregulated broker, and lots of people have reportedly been scammed on the platform.  An innocent trader is scammed when a broker takes their fund through an unfair means; there can be many ways a broker can scam its members. Click here to read more

Name: Centobot

Type Of Scam: Cryptocurrency Scam

Centobot is a trading robot. It hosts multiple trading robots with specialties in forex exchange and crypto-assets. People can create their trading bot with Centobot’s software. It claims its bots can make huge profits trading crypto. With an investment of $250, you could make as much as $1500 per day. (Note: this investment seems too good to be true). Click here to read more

Name: Berkley Trading Scam

Type Of Scam: Forex Scam

Berkely Trading website shows that they do not fall under any regulating agency, i.e. they are not licensed. Berkley is just another unregulated forex broker, which means that customers are not protected, and they will likely get away with your hard-earned money, and there will be no regulating agency to hold them responsible. Click here to read more

Name: Atlas Funding Investment

Type Of Scam: Passive Income Scam

Atlas Funding is an online investment company owned by Atlas Funding Group Ltd. According to their website, Atlas Funding Group is located at Claude Debussylaan 18A, 1082, Amsterdam Netherlands, they also claim to have an office in Dubai at the Emirate Towers. All companies and individuals rendering financial services must be registered and authorised by the regulatory authority where it is located. Atlas funding is not registered or authorised to carry out financial service and the FInancial Conduct Authority (FCA) of the United Kingdom has issued a warning that people in the UK should not invest in the platform. Click here to read more

Name: Coleman Welch Consulting

Type Of Scam: Passive Income Scam

Forex trading scams can take various forms, sometimes the fraudulent broker only offers trading platforms that turn out to be fake. When you want to investigate the authenticity of a particular broker, try customer support and online feedback. If you can’t communicate with a broker’s customer care representative or the customer service attendant speaks in an unqualified or unprofessional way, the broker is likely a scam. Click here to read more

Name: Derico Forex Broker

Type Of Scam: FXsignal / Unregulated Broker Scam

Darico is a forex broker. Darico offers the MT4 and MT5 forex trading top platforms. Darico.io offers over five forex currency pairs, commodities, stocks, indices, ETFs, gold, silver, oil, bitcoin and other cryptocurrencies for your investment and trading options. Darico AG is registered in Switzerland as a company that provides IT services, not brokerage services. Moreover, the Swiss National Financial Regulatory Authority (FINMA) did not give Darico a license to provide investment or any form of financial service. Click here to read more

Name: VMC Global

Type Of Scam: FXsignal / Unregulated Broker Scam

VMC Global presents itself on its website as one of the most successful global CFD brokers – with over 200 thousand traders on the platform. VMC Global claims to be licensed in various jurisdictions: Cyprus, Mauritius, and Belize.  VMC Global claims to be licensed. However, they are already exposed as a scam by the Financial Supervisory Authority in Sweden (Finansinspektionen – FI) and Cyprus Securities and Exchange Commission (CySEC). Click here to read more

Name: AuraFX

Type Of Scam: FXsignal / Unregulated Broker Scam

AuraFX, founded in 2013, is a New Zealand-based CFD and forex broker that uses MT4, the top trading platform. It is not regulated, posing a risk to investors. AuraFX appeared to be registered under Aura Group Ltd, according to their MT4 report. This company is suspected to be an unlicensed forex brokerage service, not regulated by any authority. Click here to read more

Name: Finzo Markets

Type Of Scam: FXsignal / Unregulated Broker Scam

Finzo Markets is an unlicensed and offshore broker – they claim to be an honest broker who wants to give clients a satisfactory and innovative trade experience, but their offer is nothing out of the ordinary. We are concerned that no regulatory body licenses Finzo Market. Not being licensed is a huge red flag in the investment market. Click here to read more

Name: WiseFunds

Type Of Scam: FXsignal / Unregulated Broker Scam

The important thing to know about WiseFunds is that it is an unregulated forex broker. This is a MAJOR RED FLAG!!! This should be more than enough reason for you not to invest in the platform. The platform website also uses an “Automated trading software” which is another indicator of forex broker scam, as forex brokers with automated trading software are notoriously known for their scamming schemes. Click here to read more

Name: GoFX

Type Of Scam: Forex / Unregulated Broker Scam

GoFX is situated in Saint Vincent and the Grenadines, a country in the Caribbean. SVG (Saint Vincent and the Grenadines) is an offshore zone where forex businesses are not regulated. And this means that there is no protection and zero guarantees on the security of clients’ funds. To be on the safer path it is better to consider GoFX as an unlicensed broker that can do whatever they deem fit with your funds because there is no regulatory body in place to question them. Click here to read more

Name: Close Option

Type Of Scam: Unregulated Broker Scam

Close Option is not regulated by any regulatory body and this has certainly influenced its potential reliability, popularity and customers’ feedback. On the other hand, it’s a real risk to be working with this broker – it is not easy to find feedback from traders about Close Option, therefore it would be a good idea to evaluate everything before creating an account there. Click here to read more 

Name: RING Finance

Type Of Scam: Passive Income Scam

RING Financial is an investment platform that supposedly makes your investment activities easy. What RING Finance basically do is invest customers money into different investment platform, so instead of you looking for different things to invest in yourself, you invest in RING Finance and they do the investing for you. Many experts have considered RING Finance to be a Ponzi Scheme. Click here to read more

Name: Midas Market

Type Of Scam: Passive Income Scam

Midas Market is an investment company without a license, so it is considered an awful company to invest in. The Forex eco-system is flooded with tons of scams and Midas Market is part of them. Midas market abuses its lack of regulation or license to present itself as a Broker, whereas, it does not offer any forex trading at all. Click here to read more

Name: EagleFX

Type Of Scam: Forex Scam

EagleFX is a forex broker that started operation in 2019. EagleFX is an unregulated broker and uses cryptocurrency for account deposit and withdrawal. EagleFX has restrictions in some regions and is accepting United States traders. Traders have over 200+ CFD instruments on forex, indices, stocks, commodities and cryptocurrencies to choose from. EagleFX supports the MT4 platform, which is available for desktops and mobile devices. The company claims to be registered at The Commonwealth of Dominica at 8 Copthall, Roseau Valley 00152. This address is discovered to be a shelf address, after a little bit of research it is discovered a few fraudulent brokers use the same address. Click here to read more

Name: Kitco Market

Type Of Scam: Forex Scam

Kitco Market is a forex broker that claims to be the best in the forex Brokers Marketplace. In 2021 the firm boost to have over 200,000 active customers on the platform. It also claims to have a trading volume of over $1.2 Billion. All these claims are suspected to be a lie because Kitco Market only launched in 2020. The possibility of having such market dominance within that short period is rare. Click here to read more.

Name:  FxGlory

Type Of Scam: Forex Scam

 FxGlory is a forex broker. FxGlory supposedly has its physical location in St, Vincent and the Grenadines, the company offers a trading platform on the web that supports the MT4 trading platform. FxGlory offers about 35 forex currency pairs, silver, gold, oil and other metals for your trading and investment options. FxGlory claims to be regulated by the Central Bank of Georgia. However, the Broker location which is St, Vincent and the Grenadines is mostly used by scam Brokers to trick their customers into believing they are regulated. This country has no serious regulatory body in place for forex Brokers. Click here to read more.

Name:  CrypTechs

Type Of Scam: Forex Scam

CrypTechs is not an authentic platform as it can be seen from their website that they have copied and pasted the website of another fake forex broker with a similar name (cryptechglobal.com). CrypTechs did not even bother to check for grammatical errors as their website is riddled with lots of them even the company address is the same. The company is supposedly situated in St. Vincent and Grenadines, which is a hot spot for fraudulent brokers. Click  here to read more

Name:  Gaylord & Finch Broker

Type Of Scam: Forex Scam

Gaylord & Finch have been suspected to be a fraudulent broker and the Australian Security and Investment Commission (ASIC) has issued a warning to Australian citizens of its scam scheme because it is not licenced by them or any other serious regulatory body. Click here to read more

Name:  Banco Invest

Type Of Scam: Forex Scam

Banco Invest is an investment firm that offers forex trading. They offer trades on Commodities, Stocks and Indices. It leverage ratio is that which is common among offshore brokers – 1:500. Their website supports the MT4 trading platform. Banco Invest is not regulated by any regulatory authority and hence shouldn’t be trusted. Click here to read more

Name:  Gemini Capital

Type Of Scam: Forex Scam / Unregulated Brokers

Gemini Capital  is another fraudulent forex broker platform that has ruine the lives of people that signed up with them. Gemini Capita is claiming to offer top-tier trading analysis and over 50 stocks. After a little bit of research, the common team seems to be unexpected closure of traders’ accounts. Hundreds of traders said their accounts were unexpectedly frozen with funds inside which is odd. Click here to read more

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