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Blacklist of Forex brokers 2024
There are many scammers in the financial markets who deceive novice traders and steal their money. Registration on such a platform is dangerous! You could lose thousands of dollars. Maxwell Solutions Holding...
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WDRcapital claims to be trusted by 80K users from around the world, and the platform itself has received numerous international awards. We do not recommend to register on the platform. First of...
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Scammers often create scam brokers one by one. Moreover, sometimes there can be dozens of such clones. Fraudsters only slightly change the data (name, contacts) and continue to deceive people. We’ll talk about...
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GLNkzl positions itself as a reliable financial partner. According to legend, this is an advanced platform with 80,000+ registered users from various countries. There are no reviews about the broker, which is...
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Invest Partners Capital Group PTE LTD promises comfortable trading in a wide range of assets. It includes Forex base currencies, cryptocurrencies, stocks and commodities. Potential clients are guaranteed diversified trading, fast withdrawals...
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Next Level Trade promises users a good income from investing in trading bots, futures and cryptocurrencies. Potential clients are guaranteed a stable income, security of personal data and funds. There are no...
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CiberaiX offers potential clients favorable terms of cooperation, quick withdrawal of profits and professional support to achieve success. There are no reviews from real users, so there is no confirmation that the...
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Phenixin positions itself as a safe and reliable broker that offers ample opportunities for trading major Forex currencies, cryptocurrencies, stocks and commodities. According to legend, the broker took care of the comfort...
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The MetaWhiteWhale website is closed to unauthorized users. The platform is a typical one-page website with a form for entering a promo code. What is this company hiding? You will learn the...
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Basic information about the broker Brokerage organization Prime Elements Limited does not provide a roadmap and does not report experience in the financial markets. However, the website contains information that more than...
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Paritet Invest ltd positions itself as an American company that offers earning opportunities to everyone without exception. The company promises comfortable trading and an innovative platform. Is it possible to register on...
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Finance Technologies LTD positions itself as an investment management company that has achieved success since 2010. The platform uses mathematical and statistical methods, as well as historical patterns, to achieve great results....
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Forex Brokers Blacklist 2024
Eradicating fraud in any industry is a daunting task, and the Forex market is no exception. Statistics reveal that approximately 90% of all brokers are scammers, operating with no intention of genuine collaboration with traders.
Our service is dedicated to providing objective information about brokers, distinguishing trustworthy companies from fraudulent ones. Our blacklist exposes companies that have tarnished their reputations or exhibit clear signs of scamming, particularly new, dubious entities.
Fraudulent brokers often mimic the functionalities of legitimate Forex intermediaries, but in reality, they have no involvement in actual brokerage services. They fail to execute trades on the international market, instead simulating trading to continuously lure clients into further investments until the realization of their deception dawns upon them. By this time, users typically lose tens of thousands of dollars.
How do Forex scammers cheat?
There are many Forex scam schemes. Admittedly, most scammers employ basic tactics well-known to experienced traders. However, fraudsters remain unfazed, preying on unsuspecting newcomers who readily believe empty promises without delving into legal nuances, trading possibilities, and other crucial aspects.
To fleece traders, scammers:
- embed exploitative terms in their “User Agreement,” forcing users to accept unfavorable “rules of the game” upon registration.
- block accounts, accusing clients of fraud (proving otherwise is virtually impossible).
- steal deposits under the guise of platform glitches or account hacks, blaming the user for the incident.
- issue fake recommendations, manipulating users into depleting their funds, while assuming no financial liability for their advice.
We recommend being as careful as possible when choosing a broker and not rushing to trust the company. Read articles on our website, reviews from real clients, and only then make a decision.
How to recognize a Forex fraudster?
The first sign of Forex fraud is the promise of unreasonably high profits. The crooks guarantee that there are no financial risks and promise to help with trading. Don’t believe it. Criminals use generous bonuses, “expert” help and other tricks solely to attract attention.
Our team objectively evaluates each broker. We pay attention to regulation and license, quality of site preparation, and trading conditions. Only fraudulent companies that are truly dangerous are included in the blacklist.
FAQs
How to safeguard against Forex scams?
Regularly check our updated Forex broker blacklist. We continuously add new reviews. Additionally, you can find feedback from real clients beneath each review.
What are the key red flags of a fraudulent Forex broker?
Dubious Forex brokers often exhibit issues with legal documentation and unrealistic trading conditions. Typically, such companies already have a trail of negative online reviews, tarnishing their reputation.
Who benefits from the Forex broker blacklist?
We strive to craft highly informative reviews in a clear and concise manner. Both novice and experienced traders will find value in our content.