How traders define SCAM BROKER?

Exness Support

Active Trader
Apr 21, 2014
572
1
32
Well unless you try a broker you never know that its scam or not. So always see market review and ratings in different forums of the broker you wanna go with. There are some brokers like exness or hotforex who have very good ratings in different forums. So reviewing a broker from its past client can really help you avoiding scam brokers.
 

Dmitriy Enrst

Active Trader
Mar 14, 2015
186
2
34
It seems to me that the first warning sign is the problem wiht withdrawal. That's why, when I choose a broker,I first look at this point of the broker. And I liked Freshforex.
 

Steve Lock

Master Trader
Feb 28, 2015
202
1
52
It's quite easy to define a scam broker. Just take a look how long this broker has been working on the marker and how 'public' it is. For instance, I'm currently trading with Freshforex, it has more than 10 years of experience on Forex marker and, besides all other things, this make me almost sure that I can rely on this broker.
 

abi211gail

Trader
Sep 6, 2019
9
3
24
Every broker has their own withdrawal policies, you can talk to someone who's already successfully got their withdrawal, ask them which broker they trade with, that could be really useful.
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,403
1,332
144
Odesa
www.earnforex.com
Hi there! I'm Sebastian Weber form Germany and I've dedicated my life to fighting against financial fraud. Crated this incredible community to shed light on a distressing situation that my friend Leon Hophman is facing.

Leon recently fell victim to a fraudulent scheme orchestrated by Vantage Markets (https://www.vantagemarkets.com/). He had successfully made $40,000 through a trade, only to find his account frozen by Vantage Markets. Despite numerous attempts, Leon has been unable to retrieve his hard-earned money.

As someone deeply committed to combating financial fraud, I can't stand idly by when individuals like Leon are suffering. It's disheartening to witness the toll these situations take on people, and I believe that by coming together, we can make a difference.

I urge this incredible community to share any advice, experiences, or contacts that might help Leon navigate this challenging situation. Whether you've faced a similar issue or have insights into dealing with Vantage Markets , your input could be invaluable.

If you know of any resources, legal assistance, or relevant organizations that can aid in this fight, please share them in the comments. Crated this community [URL REMOVED] .

Please, join us to help each other! Thanks
Vantage Markets is a regulated broker. Your friend should contact ASIC about this issue.
 

fargana

Active Trader
Nov 14, 2022
117
17
29
33
I read may threads, articles and nonsense about what is a scam broker and want to know what everyone thinks?

I read here (this forum) that a broker that offers rebates and welcome gifts is a scam just because the member cant reach the requirement? WTF?!

I read on other forums, my broker slippage me during NFP, they are scams...WHAT?

I read some blog that trading news the spread widens, and broker is scam?!!!

All of these people should never trade forex again, or they do it on purpose to blackmail and get money back for their stupidity.

I once had a case where I won, trading manually and had to fight the broker to get my winnings, this is what I call scam. what do you think?
Traders typically define a "scam broker" as one that engages in deceptive or fraudulent practices, such as withholding withdrawals, manipulating prices, or operating with licence in offshore jurisdiction. Lack of regulation, poor customer service, and a history of client complaints are also red flags. It's crucial to thoroughly research and choose a broker with a reputable track record to avoid falling victim to scams.