Online trading has never been more popular. Unfortunately, broker scams are also increasing at a rapid pace. This is true in all categories of fraud, including forex scams, but the new trend is toward cryptocurrencies.
Although there numbers of “traditional” scams, such as loan scams are still commonplace, the most numerous schemes involve some aspect of cryptocurrencies. This could be trading cryptocurrencies directly, fake crypto exchanges or ICO offers, or a bitcoin forex scam, in which the broker asks only for cryptocurrency to fund client accounts. The purpose is that they can hide money in anonymous bitcoin wallets.
However, Broker Complaint Registry is prepared to meet the challenge of evolving scam tactics. We use crypto trace investigative tactics and create intelligence reports that empower customers to make claims to law enforcement.
The best way to avoid becoming a victim of an online scam is to take preventative measures. This means researching all financial services, including brokers, carefully before you entrust your funds.
We have done some of the work for you creating these reviews. Our team of experts understands the warning signs that many unregulated brokers give. We know what to look for when investigating brokers and have compiled this list with warnings about what to avoid.
We continuously upgrade this list, so do not assume that a broker that does not appear on our list is legitimate. However, the following brokers should be avoided because they have been flagged as suspicious. Read these reviews and you will understand quickly what kind of brokers not to trust.
When we decide to review a suspected scam broker, we look at those that have been flagged as suspicious and dig deeper to figure out why. They may have been flagged for the following reasons:
There may be a very few of these brokers that are legitimate and maybe they were the subject of bad reviews because of a smear campaign, but that is probably less than 3%. In general, it is not worth signing up with any of these brokers. If you have an account with any of these brokers, we recommend that you close it and ask for a refund.
If the brokers do not give you your funds back, that unfortunately is not surprising. In that case, talk to our experts immediately and we will discuss strategies to bolster your claim.
Although we are constantly updating this list, there are always new scam brokers cropping up. You may run across a broker that does not appear here. However, from these scam broker reviews, you can get an idea of what to watch out for and avoid in a broker. Stay away from a broker if you notice the following:
That is a sizable list of red flags, but they are not the only ones. If you have lost money in a crypto scam, contact Broker Complaint Registry experts right away.
Contact Broker Complaint Registry experts if you need fund recovery from a broker or a fake trading scheme Our team has vast experience dealing with law enforcement, government agencies and crypto platforms.We advise clients and create intelligence reports to help you resolve the issue.