Scam Broker Reviews 2024

Hardly a day goes by without a major news story about a broker scam. Many of these are crypto scams, but the number of people who lose money to more traditional frauds, such as forex broker schemes, is also on the rise. 

Given the proliferation of broker scams, it’s important to do thorough research before opening an account. Broker Complaint Registry has taken the guesswork out of investigating brokers and we have created these reviews to make it easier to avoid broker frauds and crypto scams.

How to Use These Broker Reviews

It’s important to research brokers carefully before opening an account. We’ve created these reviews to empower and inform the public with the information they need to avoid online trading scams. If you’ve lost money to any of these brokers, contact Broker Complaint Registry right away. 

When you come across the name of a crypto broker or service, consult these broker reviews. We constantly update these lists, so check back periodically. Many of the brokers on this list have been flagged by regulators or are the subject of complaints from our clients. 

Research is your best protection against bitcoin scams. Check these reviews and do your own due diligence on the internet. If you see one red flag, there’s a good chance there will be more. Although many customer reviews are suspect and can be fake, never dismiss alerts from regulators or a warning that a broker isn’t licensed. It simply isn’t worth taking the risk.

What’s Wrong With These Brokers?

This isn’t exactly the broker honor roll. To end up on this list, the following brokers must have done something to arouse suspicion. Many of these brokers have been flagged by regulators or have validated claims from actual customers of alleged wrongdoing. 

The brokers on this list are considered suspicious for any of the following reasons:

  • Offering services without a license
  • Flagged by a major regulator
  • Holds a third-rate license
  • Suspiciously high fees
  • Lack of transparency–no names, phony addresses, inconsistent information
  • Numerous and validated customer complaints
  • Low website trust rating

What If I Have an Account with One of These Brokers?

If you don’t have an account with one of these flagged brokers, don’t open one! If you already have an account with a scam broker, we recommend making a request to withdraw all of your funds and to close your account. 

Not surprisingly, most scam brokers won’t respond to this request. They may either attempt to cajole you into making yet another deposit on a trade that is sure to be a winner (spoiler–it won’t be). They may play hard ball and tell you that they can’t allow the withdrawal unless you have traded a certain amount of money. 

The scam broker may even try to convince you that they need to withhold the majority of your money for tax purposes. These folks aren’t exactly models of tax compliance themselves. 

If a broker refuses to allow you to withdraw your money or close your account without levying huge fees, that’s proof positive that you are dealing with a scam broker. That means contacting BrokerComplaint Registry. 

Broker Complaint Registry experts are on your side and will help you pursue your case until you achieve a winning result. We are experienced with fund recovery cases and will prepare a full report that will bolster your claim.

Lost Money to a Scam Broker? Talk to Broker Complaint Registry?

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with a broker on our scam brokers list, close it and request a withdrawal. If you are not given your money back, contact the Broker Complaint Registry right away. We will consult with you, work to track down your funds, and create investigative reports that will help you with your case.