✔️ Information reviewed and updated in June 2024 by Eduardo López

Have you suffered the bad luck of running into a fraudulent broker? Do you feel scammed by your broker?

Believe it or not, what we have named above happens very frequently, since trading in Forex, CFDs, Cryptocurrencies, binary options and in general investing online, has become hugely popular in recent years. Therefore also the number of people losing their money has increased considerably with fraudulent brokers or fraudulent investment firms.

In this section we give you a space for leave a comment mentioning your experience, you can search our brokers list, all the reviews we have written, and look there for the company with which you have had problems. If you can't find it, you can leave a comment, or send us a private message through our contact section, telling us about your experience.

How to recognize a fraudulent broker?

We have received hundreds of messages of inexperienced people who, due to ignorance, end up investing with a broker (or investment company) with which is not worth investing. Since you are here, we give you some tips so you can recognize a fraudulent broker:

  • Offer psychological therapy to employees opciones binary.
  • It offers systems of automated reversal.
  • Is a broker NOT REGULATED.
  • They lie about their regulation or they try to mislead or impersonate a regulated broker.
  • They use the regulation number from another broker.
  • They use a very similar name (or logo) to a respected and regulated broker.
  • Hide key information, like its regulation or the lack of it.
  • Hide key information about its location, or to which company does it belong.
  • Publicize especially the cryptocurrencies, .
  • The broker is based in countries like: Estonia, Russia, Bulgaria, The Bahamas, Marshall Islands, Seychelles, British Virgin Islands, Dominica, Saint Vincent and the Grenadines, Malta, Estonia, Mauritius, Vanuatu, Cyprus (in some cases), Saint Kitts and Nevis.
  • has some kind of automated (a few years ago a forex robot was very popular) that makes you earn a lot of money very easily. Like algorithmic trading, bots, robots, etc.
  • They promise huge profits, in a very short time and in a 100% secure way, and they tell you that you only have to deposit your capital.
  • Has inside information which makes you earn a lot of money, very easily.
  • You have reached it through advertisements such as The Bitcoin Code or Dubai Lifestyle, where they basically tell you that you will earn a lot of money very easily, if you give your information and register.
  • The website is very poorly designed.
  • The website is copy of web pages from companies that have previously been flagged as scams.
  • It does not have social networks.
  • If you look for information about them on the internet, they have a very negative reputation.
  • If you look for information about them on social networks, they have new publications, they have no seniority.
  • They ask you for more money to "unlock" your money or for taxes.
  • They offer very good returns.
  • they encourage you to borrow money to the bank, to acquaintances, friends or family.
  • They have a few years of experience.
  • they call you insistently ask you for money (A serious broker would never call you and would never ask for money).
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If you think you are being scammed by a broker, or by your advisor, as we told you before, leave us a comment explaining what happened: contact us through our contact section. We also recommend read some of our sections most popular scam, to read hundreds of experiences of scammed people.

Remember it's never too late to share your experience, keep in mind that we have helped and saved the money of thousands of people, thanks to the experiences of people like you, affected or almost scammed by brokers and investment companies, who publish their experience and comments on our website. We understand that you may feel bad, embarrassed or you may feel that your experience will not add up, but this does help, we have discovered hundreds of scam companies thanks to customer feedback, we have helped many people thanks to this.

What can I do if I was scammed?

This is very difficult, since usually these brokers, those who follow these practices, are unregulated companies, with a non-real location and whose employees also they use fake names. This means that very it is seldom possible to get the money back, But DO NOT LOSE HOPE! As we already said, if you have problems with your broker, or you think you will have problems in the future, write us a comment here, or a private message explaining what happened. Until now, the best way to get the money back is this, try it: How to get my money back from a scam?

Eduardo Lopez

Editor and Copywriter

I am Eduardo López Martínez, I was born in Madrid, Spain and I am 48 years old. I am a journalist and I am part of the Brokersdeforexconfiables.com team. Do you want to know a little more about me? I invite you to read my biography.

See publications of Eduardo López

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154 comments on «Fraudulent Brokers»

  1. Victor Lozano Reply

    Good evening, I was scammed by a platform, how can I get my money back, they don't want to give me my money back.

    • reliableforexbroker.com Reply

      Hello Victor, it would be good if you wrote the name of the broker that scammed you, but equally, if you want to recover the money you can do it from the CHAT on our website or by filling out the form in this link: Get your money back, we are with you


  2. Elizabeth Reply

    Hello, Xuma capital is a scam. Many people have been deceived by two Colombian leaders, it is a couple who claim to belong to the church. The company scammed thousands of people for a long time 2020-2024


    The leaders claim to back the currency in physical gold. DO NOT BELIEVE THEM. We will show you documents. websites, they will invite you to meetings, etc., they will hold meetings and contact you with investors. EVERYTHING IS A FRAUD!!!
    Now the company has changed its name.


    • reliableforexbroker.com Reply

      Hello Elisabeth, it's all a fraud, they use fake names. This broker called Xuma Capital is a SCAM, many investors have denounced Xuma Capital for fraudulent activities, it is not advisable to invest money in a NON-REGULATED broker. It's a SCAM and does not return money to its customers.
      ALL positive comments from this broker are FALSE, they are made by their own workers to confuse investors, flood social networks with positive messages about them and it's all FALSE! and when customers ask them about our reviews they say we are from the competition, also FALSE !.

      We recommend to all those affected recover the money from the CHAT what we have on the web or in the following link: Get your money back, we are on your side


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