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Scam broker shield: check whether a forex broker is legitimate

Check in seconds whether a broker is one of the regulated brokers we have reviewed, and learn to recognize the warning signs of a scam.

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All hold at least one licence from a recognized regulator. Click to read our detailed analysis.

Promises of guaranteed or very high returns, with no mention of the risk of loss.
No licence number, or a licence number that does not appear on the regulator's official register.
Pressure to deposit quickly, or to deposit more in order to “unlock” gains.
Withdrawals systematically blocked or delayed, unexpected fees or “taxes” demanded before any withdrawal.
A website that imitates the identity of a real regulated broker (name, logo or address close to the original).
Unsolicited calls, social media or messaging app contacts, “account managers” who trade on your behalf.

Immediately stop any transfer of money to the platform.
Gather evidence: emails, bank statements, screenshots, names and phone numbers of the people you dealt with.
Contact your bank or card issuer: a card payment can sometimes be disputed (chargeback) within a limited time.
Report the platform to the financial regulator of your country, and to the regulator it claims to be licensed by.
Report the fraud to your local police or national fraud reporting centre. Beware of “recovery” services that promise to get your money back for a fee: they are often a second scam.

Fees, platforms, regulation and instruments, side by side.