Forex Scam Brokers 2025 - Brokers to Avoid

Stay safe in the $7.5 trillion forex market by avoiding these fraudulent brokers

Warning: Always verify a broker's regulation before depositing funds.

How to Identify Forex Scam Brokers

Feature	Safe Brokers ✅	Scam Brokers ❌
Regulation	Licensed by FCA, ASIC, CySEC, NFA	Unregulated or fake license claims
Transparency	Clear terms, contact info, and fee structures	Hidden fees, vague company details
Withdrawals	Fast, smooth, verified payouts	Delayed, denied, or blocked withdrawals
Customer Support	Responsive 24/5 or 24/7 support	Unreachable or unhelpful once funds are deposited
Trading Conditions	Competitive spreads, fair execution	Manipulated spreads, slippage, fake price feeds
Promotions	No unrealistic promises, clear bonuses	Guaranteed profits, "risk-free" claims, pressure tactics

Broker Name	Issues Reported	Risk Level	Reported By
TradeFXPro	Withholding withdrawals Aggressive sales tactics Fake regulation claims	Blacklisted	FCA, ASIC
GlobalFXMarkets	Unregulated offshore operation Platform manipulation Price feed manipulation	Blacklisted	ForexPeaceArmy
EliteForexHub	Clone of regulated firm Fake CySEC license Multiple customer complaints	Warning	CySEC, FCA
BitcoinFXTrader	Crypto deposit scams No withdrawals processed Fake celebrity endorsements	Blacklisted	NFA, FCA

Last updated: July 15, 2025 | Next update scheduled: August 1, 2025

Fraudulent websites mimicking legitimate brokers to steal deposits. They often use similar names and logos to reputable firms.

Paid trading signals with no proof of accuracy, often using fake performance records to lure traders into consistent losses.

Automated systems claiming guaranteed profits but delivering manipulated results or complete account wipeouts.

Paying early investors with deposits from new victims while showing fake profits until the inevitable collapse.

Check regulation - Verify license numbers on regulator websites (FCA, ASIC, CySEC, etc.)
Research reviews - Look for independent feedback on ForexPeaceArmy and trading forums
Test withdrawals - Start with small deposits and test withdrawal process before larger investments
Use demo accounts - Evaluate platforms with virtual funds for at least 2 weeks
Read terms carefully - Pay special attention to withdrawal policies, fees, and bonus conditions
Check company history - Search for how long the broker has been operating and any past complaints
Verify contact information - Ensure they have real physical addresses and responsive support

Cease all deposits and contact immediately. Document all communication before they block you.

Save all emails, chat logs, payment receipts, agreements, and screenshots of your account.

Request a chargeback if you deposited via credit/debit card within the last 120 days.

File complaints with financial regulators (FCA, SEC, etc.) and your local consumer protection agency.

Be wary of "recovery agents" who claim they can get your money back for a fee - this is often a secondary scam.

Help protect other traders by reporting suspicious brokers to our team.