Other Forex Brokers that may scam traders

If there are any other forex brokers that may scam traders please don’t hesitate to add a comment here. This is meant to be a warning that traders should be cautious. It’s not evident of course. But when fellow traders got scammed and have reasonable explanations for it, it’s their duty to warn other traders to avoid the same mistakes. Thanks for sharing your experiences.

These are the brokers that may be scamming traders. We received warnings from visitors with accusations that justify an official warning. Please be cautious:

go24invest.com

Traders reported to not receive withdrawals. Support is silent since the cashout request.

Trade24

“I have been through your website , and I haven’t seen the broker I work with listed in the website.
However I’d like to share with you my trading experience with a company named trade24, they’re are by far one of the top scammers, cause they are real scam artists professionals
When I first started trading with them their account manager took so many positions for me which caused a loss in my account a drawdown of about 50 % uue to his trades against the market trend , when I started taking my own trades he used to close them for me too even thou they were mostly in the right direction
however they compensated for me in a bonus ” a very manipulative way of freezing the traders account ” and refusing withdrawals for the trader and for every 1000 usd the trader apparently needs to trade an amount of 200 lots so for several thousands it will be quite impossible to get to that point .
I have went through several forums and apparently the issue isn’t only happening with me many people were scammed before and people are still getting scammed.
Apparently clients can’t reach them directly their employees disappear sometimes no one to talk to or call . And they were even trying to scam me further by asking me to send more money so that they can help me with losses
Note that I have managed to recover my original amount of balance but they have declined my with withdrawal request under the excuse that I have a bonus obligation to full fill
I wonder if there is any legal action that I can take against them , I suspect their address isn’t even real and so on.”



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45 opinions and experiences

  1. thabo marvin says:

    hello everyone i was scamed by gbe brokers,i tried many times to get my money back but they tell me that they changed banks and they cant give me back my money,is a month now and still i have not received my money back.Gbe is a scam

  2. W says:

    SCAMMED BY FOREX TRADING CENTRAL I FXUnit I MARKETSITRADE I BeCFD

    Guys, I am reporting this case so that no one falls into their trap and just before proceeding legally against the company who is trying to hold my money!

    Last month, I was approached by a company named (Forex Trading Central) who offered me to open an account with them. I agreed and was directed to one of their platforms (marketsitrade.com) where I did the deposit and immediately opened a position under the guidance of a nice gentleman who asked me to schedule a “take profit” command.
    Next day I received an email from them asking me to validate my account. Documents were submitted from my side and an email confirmation followed from their support team.
    On the same day, a new account manager called me mentioning that his name is Oliver Thompson. he gave me a lengthy presentation explaining that i should follow his trading strategy and that i should ignore the recommendations of his “junior” colleague who assisted me opening the account and do my first trade. it was agreed then with Oliver Thompson that i will consider his recommended strategy after Sept. 10th right after i get back from my vacation.

    I was watching the market on google while i was away and the price of the instrument i traded was up by 21.5% – way above the “take profit” position that i had scheduled. I assumed that my position was automatically closed by then.

    returning from my vacation, I logged into my account (two days back) to find that the position was still open and my balance is down by almost 60% with all the functions on the platform being disabled. Immediately contacted Oliver Thompson and his answer to me was “the platform is not good and can barely trade Crypto Currencies”. he asked me to open a new account on their “state-of -the-art” platform called (BeCFD). I rejected his request asked him to reimburse my investment and informed him that i will consider BeCFD only when the money is back in my account. Since then Mr. Thompson failed to provide me a straight answer on whether he will send back my money or not. my last email to him was this morning informing him that I will pursue my rights to collect my money. of course he ignored my email and here is my first act against them.

    • Paul Hough says:

      I would like to add that a company with the website URL “www.becfd.com”, which may or may not be the same company, arbitrarily and with no explanation simply removed 30% of my funds from my account when I requested my account to be closed and my funds returned.

  3. anumalik says:

    hello all forex related friends i would like to share with u that zulutrade.com is scam as after working with them for 54 weeks and getting my position within top 20 traders of world rank they did not pay me the commission whereas they deduct the amount from our followers account . Their No.1 to 10 positions are for their own people they are trading and earning a lot of commission and end up with blowing the accounts of followers. zulutrade is a big scam. They dont pay to actual SIGNAL PROVIDERS. here is my link and people with amount following me i have told them also to leave this platform immediately in my social section. Please share this post that other people could be alert and avoid a big scammers.
    https://www.zulutrade.com/trader/335747

  4. christie says:

    Has anyone tried to recover their money from 53option? I had to hire a refund solution professional to recover my funds, it was successful. Happy to help other victims going through this.

  5. JISHA says:

    This is with regards to bforex. I had initially deposited 200 $ and now i get to know that its a scam. How do i get my money back. Kindly rever back to me as soon as possible

  6. José says:

    Hi:
    I have a issue with IronFx about the withdrawal, the principal issue is
    that in the articule 17.7 about the time for withdrawal indicate that it
    will be on Web Site but it doesn’t appear.
    Their Portal Complain doesn’t asign a number, and they don’t answer my
    email.

  7. Dean says:

    245markets.com. Beware of this broker. Account Manager – Tony Byner and James Bosko are names to beware of. They use 245markets.com website as a store front to allow deposits, however withdrawals are impossible. Cold called for Snapchat IPO, invested $1000.00USD and I have tried numerous attempts to complete a withdrawal. Every time I receive a call from account manager who then tries to up sell and ask for more money. They say they are located in UK, however they use IVPN to place calls and call display shows +4488582259, however calls could be from anywhere in the world. Don’t be caught by this scam.

    • Liam says:

      Dean, is that Tony Bryner(rather than Byner) you’re talking about? A right scam artist, so he is. He’s also linked with Marketsbroker who are yet another scam broker. Requested a withdrawal from them and either he or some lowlife in the company decided to place 4 unauthorised trades on my account which wiped it out.

  8. ernest says:

    anybody trading with cms trader?

  9. Charmaine says:

    GTP CAPITAL. STAY AWAY. They are not real. I am a victim and it has destroyed my family and future.Suddenly disappeared when trying to make a withdrawal. No support. Saw the scam alertstoo late. It hurts to see so many people that have lost their entire savings, retirement and much more.

  10. durban says:

    These motherfuckers took my money as well

    but the hell waiting for them

  11. Jacob says:

    I lost $80k trading with binary option, being told my trades would be carried out using a master software. I thank God I was able to get my funds back through king-wizard(at)programmer(dot)net I would recommend his contact if your seeking to get your binary option investment back from your broker

  12. Jose says:

    Dear Sirs:

    I am a client of IBAMARKETS.COM (SIR GLOBAL LTD) This company has passed the certification procedure and obtained the FMRRC Certificate of Compliance on 18.05.2015.

    I asked them for my first withdrawal of money 1 month ago and they do not respond to my mails, I do not have any technical support and support in this regard.

    Through this email I wish to denounce this fraudulent practice.

  13. Gilda Nel says:

    Please warn people about Currency House. They are based in the Ukrain. They are not paying out ANYONE and keep postponing payout dates (To JUNE CURRENTLY). Its a massive scam.

  14. abram says:

    I joined tixfx.com in June 2016 and deposit 5000usd. By September 2016 the account manager Chris Bonson has loss all my the money. Late September 2016 i was contact by Megan Logas saying she will help me recover the money and again by 16 February 2017 Megan Loagas has lost all the money. i request a withdrawal on 10 Febraury by nothing.

    tixfx is a very big scam

    • knut says:

      Hello abram :) im just a random trader and can relate to your story. thank you for sharing your story. You`ve been in contact with Megan Lagos? this is her contact skype info:megan.lagos2
      tixfx is that related to markets 245? yes its very sad to witness all the liers and scammers out there. be cautious and evaluate before open any account with some random broker. there are thousands to choose from.

      • Roman says:

        Het i agree here as well. First a girl called me with the name of Gulia Ferano and gave her skype. She told me to deposit and at the first i didnt trust them, after she was like we have a professional guy who will help you to get 500$ a week if you deposit 250$, The name of the guy is Oliver Badger. I deposited becasuse i trusted on this broker. After i deposited, Oliver Badger called me and told me to deposit 250$ more and i was not ok with that and he started promising me that if i do so than i can get 1000$ profit a wekk. I did the withdraw of 500$ total and the guy started to say that we have a professional girl whose name is Megan Lagos with the skype name megan.lagos2, she contacts me and says again to deposit this this and you will get 5000$ profit in a week with the 101% guarantee and i thought that it was true and i had a total deposition of 1000$, i had total of 2054 dollar but when i try to withdraw they always cancelled. The reason was the credit and the margin level is low. They says always that and now i have only 440$ on the ForexGrand and it is still declining. I asked to Megan how can it be possible to go from 2054 dollar to 440dollar in 10 hours? she was like bitcoin increased and all. Now she fights with scream at me even tho she loosed the amount.. oops i lost like 1000$ and i would recommened you guys now to go and trust this forexgrand because it is a complete scam. They will eat all of your money. You are not getting anything back on this trust me

  15. Jonathan Mejellano says:

    I lost 250$, it’s not a big amount for some but I am here to warn people so that they won’t make the same mistake. I saw their link first time on Facebook. There’s this short presentation done by two people (man & woman) as they’re about to board a private plane. Well, in short I got carried away with this presentation that I signed up. The broker’s name is: SKYLINE MARKETS. Later on, I decided to withdraw because what I saw in the presentation was way too far different. They replied (surely it’s a robot) that I need to submit “Compliance Department” to be able to get my 250$ back. I communicated as well through online chat and was told to wait 48 hours and etc. It’s been more than 5 days now and I nothing happened. 250$ dollars may be small for others, but this amount is already a big amount for me since I’m only working in a rank and file job. This amount that I lost can already fed me for 1 full month. I want the people to know that I got scammed and the name of the broker is SKYLINE MARKETS. This fake brokers should be wiped-out online or a massive “info” dissemination should be made to prevent people from further being scammed. Please help me spread it. They are now posting on Facebook walls and I’m sure if no forewarned is being made, more people will fall prey and lost their hard earned money. Once more, please take note, the name of the broker is SKYLINE MARKETS! Thank you very much!

  16. Stan Kimer says:

    How about Daily-Trades? My business partner in Belarus had been requesting her funds since May and she keeps getting the runaround. First they were non-responsive and once I started assisting her using my American force and nastiness, in mid August, they started promising the funds would get to her the next week. Now they have been doing this “it’s coming in 2-3 days” for the past 6 weeks with one lame excuse after another and continuing to ask her for more and more documentation. What can she do? Why don’t governments go after and shut down these scams.

  17. William Ellis says:

    The company I was trading with was taken over by another company named Ridge Capital Markets supposedly trading from an office in Zurich , Switzerland. I got my deposits returned from the 1st company but not the profits which were transferred to the takeover company. I started with the new company November 2015 to try and get my profits out and they convinced me that a financial analyst (Joe Davis) would speak to me about investing it with them in a managed account. I agreed to try it. Over the next four months I invested US$80,000 in regular deposits and built my balance to about US$113,000 which was a good profit.
    During that period I only had 2 lost trades.
    They then started to trade large money on a single trade of US$30,000 which lost. I questioned them about the size of this trade as I was not happy with their risk management and became suspicious. Over many weeks I asked for withdrawals for the first time and they became very difficult and did not honour any withdrawal and tried to convinced me with a measly $5000 withdrawal.
    I then asked them to stop trading my account which they didn’t. I then asked them to close account and return my money which they didn,t do.
    I manually stopped their trades on the Metaquotes MT4 trading platform which was quite a task. I kept asking to close the account without success.
    They then proceeded to use trading software from their server which I could not stop and traded me down to nothing within 2 days. I spent money investigating them without success. Metaquotes would not help in tracing them. Their Bank in Sofia, Bulgaria would not help. The Swiss authorities would not help as I was told by my investigator. They are still trading through their website http://www.RDCM.com (Ridge Capital Markets) and the company Ridge Group Limited has an address in the Dominican Republic. They have still got a trading office address in Zurich, Switzerland and are still trading so stay clear of them if you value your money.

  18. andre blommaert says:

    I i am misled by pwrtrade.com and have lost 47000 euro.
    the first demand of withdrawal made no problems, but the 2nd was unsuccessfull (8000 euro-refused).
    to come in contact with fellow-vctims i opened a Facebook group #powertrade .

    you can Always join this group in order to bundle actions we can eventually do)

  19. Greg Simcock - Author J. K. Rawling says:

    Being the originator of the Binary Option concept I want to reveal to all traders that the way the trading system has been made to work, since my artwork for my inventions got thieved years ago, is so that the money a person invests goes into the company bank and its directors pockets, never to be deposited into one’s own bank account. If you can get money transferred from a trading platform into your personal account then that is amazing. What is more amazing is if you can repeat that process many times after the first. Why that doesn’t happen is because of how the trading software has been designed to work. The many little wins one gets is designed to generate the greedy element in a trader so that the next investment is bigger for more financial gain but the result is often a loss and that takes a lot of trading to recover from. In the mean time the brokers go home with fat fists of money gained from their practice. That is why they are called brokers! My loss to Broker Capital Ltd. is $85,000. USD after the company notified me it was ready to be transferred back. It simply closed its doors and shut down their website. My total loss to the binary trading scam system is $400,000 AUD. The industry is one melting pot of many brokers that systematically do their little bit to suck your funds out of your bank accounts. When a trader is dissatisfied with one trading platform there are many others ready to continue the run out of the traders funds by the use of one or another scam technique they use to gain someone’s confidence and that is when a person is most vulnerable to the scamming brokers who present what is said to be a good opportunity to make some money quickly but ends up being bad advice. Be aware of the scamming methods used by brokers.

  20. Elhamy Elnashar says:

    I surprised that KSFTRADE broker is not included in your scammer list , they are pioneers in frauds and scams .
    when my balance with them reached 118000$ , the account manager vanished and all other company staff , the same happened with 10 persons of my friends , the only person who contacts traders is the account manager with skype name .. No. support or any other way of commutation with them even if you dont have any problem , they call you only to deposit money then no answer> they just collect money and vanish.
    Please take a look at their reviews and victims on the internet

  21. AngryMan says:

    If you been scammed by IMB trading, please come and join us at: https://www.facebook.com/IMBTrading

  22. AngryMan says:

    Anybody been scammed by imbtrading.com? 2 weeks ago they closed their website and the phonenumber in both UK and USA stoped working. I dealt with a man named “Daniel Foster” and “Mark Smit”
    Everything worked great for months but when trying to make a withdraw 2 weeks ago they vanished from the internet :(
    The website is registred thru godaddy.com and email is behing domainsbyproxie.com

  23. Tallbert Moyo says:

    Broker Name: Michael Brooks
    Account Number: 16632272
    Investment Company: Globus Capital Limited

    Hi. I have been investing with this company since February this year. When i began with them they looked so Genuine and would always update me with everything going on with my account. But for the past two weeks they have not been communicating, their website in no longer available, my account has not changed their phone numbers are no longer working. I am worried and i don’t know what to do. What bothers me is i referred 4 other people to invest there and they too are facing the same problem as i am. How can these be brought to book and on legal grounds how can we pin them down. If anyone can help please it will be greatly appreciated.

    • South Africa says:

      I spoke to lawyers in the UK. They have not assets in the company. Thus one cannot sue them. You can list your claims with the houseofcompanies in the UK. This will increase the length of time they have before they can file for bankruptcy. Other then that i am not sure what to do.

      Globus was registered with the FSB so they enity cannot help us. I am actually wondering if it is worth visiting them in the UK however I do not think it would help much/

    • Anna-Mare Viljoen says:

      Same happened to me

  24. South Africa says:

    Hi

    I opened out an account with GlobusCapital Limited 3 months ago. They are based in the UK,Level 3, 207 Regent Street LONDON W1B 3HH UNITED KINGDOM.

    My mother opened an account with them, and put her pension money in about 3 weeks ago.

    I requested that globus close our account and give the money back after I found out they were cheating people. They have since stopped all communications and their website is not working as well.

    They are now operating under the website (used to be *sic) fb-limited.com/en.

    I dealt with Micheal Brooks ( not sure if that is his real name) .

    If anyone has been through this, is there anyway one can get ones money back? If you have gotten your money back, how did you do it?

    There are 3 other people who have been cheated out of there money that I know of.

    Thanks

  25. Kavita says:

    Hi everyone, My account number is 2050219, I am struggling with Avafx since longtime but my money is stuck in the platform hence with them. AMAR is my account manager and he is only interested in all your deposits to the account.

    1. Poor customer support
    2. No technical analysis or guidance provided
    3. Delays in deposit transfer to account which creates panic and you have to hedge at higher levels.
    4. Although they promise you trade recommendations, they leave you to trade on your own and incur losses. 5. What is concerning regarding trading is , AVA practice dealing desk what means they are dealing against you (their client, make money on your back and the only goal is that you feed them more with your money.

    Please save your hard-earned money and don’t trade with avafx.

  26. Chen JR says:

    Yes, I’m another victim of Globus Capital. Started investing with them after a smooth talking broker called me out of nowhere. He promised returns of between 10 -20 % per month. I deposited a small amount initially just to “try” them out – and indeed the returns were as good as promised. I was also told I could withdraw the profits anytime – which I was able to a few times – which convinced me they were a genuine company. This led me to invest even more. But around late July – August this year, I noticed the trading suddenly stopped. When I emailed to query about this, I got no response. I then decided to withdraw the profits as well as my capital. But to this day, I have yet to receive a reply from them despite repeated calls and emails. So this is to warn potential investors to stay away from Globus Capital – a real scam company !

    • Anna-Mare Viljoen says:

      Same here from South africa but what bothers me is the site is still active and they still take deposits but do not pay out any money

      • CPT says:

        They have now taken down the website and are in the process of dissolving the company (GCAL). They have registered a new company and a new website (used to be *sic) fb-limited.com

  27. raj says:

    Hi Everyone.. Even forex is a scam forex broker. Recently their fraud fund manager name Mr.Tamil his website http://www.tradingwithtamil.com his real name is Tamilarasan got award in china forex expo. have you people wonder how ???

    it’s very easy , just apply any forex expo you may get a email from that contact the forex expo people to ask them what is the cost of getting awards. For brokers awards start from $1000 for other like fund manager awards $500. Just presenting trophy or stand with 2 people will give him a award that’s. its all about marketing cost done by evenforex company. Big cheater and also promoting their business through forex Tamil fake fund managers with all manipulation traders.. Just be aware of those scammers..

    • Tamil says:

      Make a Reply:

      Hello Raj, I am Mr.Tamil and my full name is S Senthamizharasu.

      First, Tell me your original name and identity, Dont post like a coward with fake name and email address.

      I worked hard and got award for my hard work. I give genuine training and do business forex. If you are not happy with my growth, keep your mouth shut. Dont make fake reviews in online. Contact me in phone or email if you need any help in growing in life.
      website : http://www.tradingwithtamil.com , cell=+91-9487929983 email: infoqmanager@gmail.com

  28. Mr. Atif Mahdi says:

    Broker Name : CMS Trader
    Date 28/8/2015
    Opened an account with them $9000 . I wanted to close the account and get my money back. Total amount in the account $ 9221.15 . For the last 2 months unable to get my money back. Since I threatened them with legal action, all communication lost. Only communication is if I ring land line somebody answer but no solution to my problem. I can still log into my account but had not traded since I decided to get my money back. No explanation or reasonable reasons given to me for the delay

    • Derrick says:

      Hi Mr. Atif Mahdi,
      You get your money from CMS Trader? I am also on of the victims.

    • Patrick says:

      I am also one of the victim of this scam CMStrader.

      Do not open an account with them, you will never get your money back, they are not FPA approved. Many governments have banned this organization.

      They will initially show you very nice trades with profit, and then the moment you ask for Withdrawal they will deliberately do some wrong trade with huge volume to wipe your account off in a no time.

      Please share your number I have their all call recorded with me I will send over.

      Thanks,
      Victim of this scam company

  29. Ramesh says:

    Hello I am Rameh i open an account from nimrodfx broker 5000$ after depoit i start trading in 1 day they give spike in eurusd pair and blow my account and then disbled my account alo plz help me to recover my account they are 100% scammers.

  30. Roger Christiansz says:

    Big Option Binary Options and Forex Trader. Be aware, like most scam traders they too offer a small deposit to open your account. I made a couple of successful trades and then I started getting calls to invest a further £2000 and have an account manager trade my account. This caused me to doubt their credibility. Their site is adorned with every available badge to give them credibility, and their smooth talking presentations will only end in tears when they rob you in broad daylight of every penny. I have tried to get my £300 deposit back after having opened my account in April 2015. On 1st July 2015 I had a call from an account manager, Steven Gold who said he could not understand why I would want to close a profitable account. He agreed to set the auto robot and then on its result reconsider my decision. On the same day I spoke to account manager Steven Gold the auto robot that he set made 15 trades losing 14 and winning 1, leaving just £4 in my account. The robot executed 8 trades on eight different instruments that closed at 1700hrs and 7 trades on seven different instruments at 1900hrs. From my own experience with auto robots, they certainly will not do that, so there was most definitely some human intervention or the robot that was set had only one result programmed and that was to deplete my account. Despite numerous requests to have someone resolve this situation I have had little or no contact from them. They claim a deep investigation is taking place but nothing is happening.

    Beware, Big Option is a SCAM Trader.

  31. Msobomvu Marala says:

    I am Msobomvu Marala and have an account with Globus Capital Limited(GCL) They have helped me raise my capital in forex trading and I have even organised people to join the broker. Initially I made a small withrawal which they afforded but now whenever I or any of my friends I helped to join, want to make a withdrawal they dont give the money.
    Its really frustrating and I think we have been duped, it must be a scam.
    Please help us get back our money and invest in reliable brokers.
    In anticipation of the positive gesture regarding the above, I thank you in advance

    Kind regards
    Msobomvu Marala
    +27 73 557 3800
    Mso’74

    • Anna-Mare Viljoen says:

      Same here also put in money in Globus Capital limited and now that I want to withdraw they are quiet. According to their site they are busy with renovatìons very upset

  32. Moses says:

    DailyTrades broker used to call and say we will trade for you because if you loose we loose as well, their name Micheal Sharp and Alex Miller. I deposited $1000 and they wiped off my account. Now they are no where to be found.

  33. JP says:

    I have joined GrandCaiptal for few days, and I have made over 150%. Now they have cut my profit and simply giving a reason that I traded in a no quote period. Then I asked them why i can make order in MT4! Then they just hung up the live chat.

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