Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders


How Forex Traders Get Scammed by Brokers?

February 14, 2011 by

Three months ago I’ve listed several ways for brokers to “cheat” you legally, but those usually aren’t considered a scam behavior. Far more dangerous are the real Forex scams. I was fortunate enough not to open a trading account with a fraudulent broker, but I often read stories from the less lucky traders that were scammed in some way by a broker. I’ve created this poll to find out how many traders have really been scammed and what ways were used for that. Please, share your experience.

Have you ever been scammed by your broker?

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If you want to share your opinion or questions regarding the ways Forex brokers may scam traders, feel free to reply using the form below.

One Response to “How Forex Traders Get Scammed by Brokers?”

  1. Andre Edias

    When I signed up with a new broker, I always opened with small capital to get a feel how they operate. That, combined with doing some research about the firm, avoiding any new-started company, should be a start :)


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