Scam Broker Warnings and Blacklists

This caveat is very important if you are a young trader or a new investor in the cryptocurrency, stocks or Forex market. Choose your broker or trade with caution, as scams are plentiful.

The growth of financial markets, especially in the Forex and cryptocurrency markets and the possibility of carrying out online transactions on the web and generating profits. Has opened the door to many scams on the web.

Crypto, Forex, and Stocks Scam Brokers – How Does It Work?

Many people around the world have been scammed by scammers.

You saw an ad on the Internet and left your contact details. Advertise them as “Become a millionaire with an investment of 250 €”, “Receive 50% profit per month with a robot trader, no need for experience!”. He is not lacking in creativity, but often he offers you deals with a big return on your investment, when in fact these are lies.

So, after giving your phone number to this ad, they call you on the phone and promise you amazing returns on your investment. They pass it off as stockbrokers, Forex, crypto exchanges, or trading platforms.

The scam then follows the following scenario: initially, the victim sees his earnings increase at high speed; her “advisers” urge her to deposit more money, to take advantage of an uptrend. Then, when the victim has invested all she can, or when she asks to withdraw her winnings, the money is no longer available. Sometimes he has never invested anywhere – he just swelled the crooks’ bank accounts.

Usually, they work like Ponzi schemes. Once you invest, they will allow you to make small withdrawals, to boost your confidence, but in the long run, it will be almost impossible to get your funds back.

Sometimes it is difficult to tell the difference between the real broker and the scammer.

How do you know if your broker is a scam?

1. If you get a call from a certain broker but have never registered with that broker.
2. Check the details of the payment method by bank transfer, if the name of the beneficiary of the bank account is different from the name of the company and the website.
3. You are told that a trader will trade for you, regulated brokers are not allowed to trade for you. If the broker offers it to you, it is a scam.
4. Aggressive selling, the person on the phone calls you loud and you have a hard time saying no.
5. The salesperson sells you a dream, “Too good to be true” goes a saying. If the offer presented to you is too attractive, beware. If making money is so easy, why is the person on the phone wasting time calling you when they might be calling you on their own?
6. Guaranteed return, if you are guaranteed a return, you get ripped off. When investing there is always a risk and you never know in advance how much you are going to gain or lose.
7. Broker not found on the Internet, if you cannot find much information about the so-called broker, it may be a scam. Why not invest with the best-regulated brokers?
8. employees are on social media – check if the people calling you really exist in real life or if they are just pseudonyms.
9. The favourite trick of business scams, bogus ads that tell you that the rich or famous have invested in them. Make sure serious companies never give out the names of their clients and you are screwed.
10. Funds blocked for a certain time, so as not to be unmasked right away: they tell you that the investment is blocked for a certain time, 6 months for example and that this allows them to scam a significant number of people before they are ‘they realize that they have been ripped off and file a complaint with the financial authorities or the police.
11. Consult our blacklist of Forex / Stocks / CFDs or Crypto brokers. For the moment, we have registered more than a thousand fraudulent company names. If you have invested in one of these brokers, you have apparently been ripped off.

We invite you to file a complaint on the form below this article.

This is why at AdonFinance we have set up a blacklist of fraudulent brokers, to warn the trader or the investor against this type of scam.

This is a list of blacklisted companies or websites, warnings and/or spoofs of regulated companies: