Fake broker scams: spot, verify & report
Cloned regulated firms, fake CFD platforms, custom 'trading apps' that always lose — how to verify any broker against the real regulator registers in under 60 seconds.
Red flags
- Cold call, WhatsApp, or LinkedIn DM pitching an 'account manager' or 'senior trader'.
- License number that doesn't exist on the regulator's register (FCA, ASIC, CySEC, FINRA, SEC, IIROC, MAS).
- Clone of a real licensed firm's name, logo, or registration number with a different domain.
- 'Free demo account' that always wins, then a real-money account that always loses.
- Deposits via card or crypto only — never SWIFT to the firm's own corporate account.
- Withdrawal request triggers a sudden 'tax', 'compliance fee', 'AML deposit', or 'profit-release' charge.
- Trading platform is a custom web app, not MT4 / MT5 / cTrader / TradingView.
- Address is a virtual office in St. Vincent, Marshall Islands, Comoros, or Mauritius with no real staff.
Free broker website checker
5 steps to verify a broker
- 1
Scan the broker URL above
Run the broker's website through the checker. New domains, hidden WHOIS, and database hits are instant disqualifiers.
- 2
Verify the license on the regulator's own register
FCA: register.fca.org.uk · ASIC: connectonline.asic.gov.au · CySEC: cysec.gov.cy/investor-protection · SEC IAPD: adviserinfo.sec.gov · FINRA BrokerCheck: brokercheck.finra.org · MAS: eservices.mas.gov.sg/fid. Search by the license number AND the domain — clone firms reuse real numbers.
- 3
Check the regulator's warning list
Every major regulator publishes a public 'unauthorised firms' / 'investor alert' list. FCA, CFTC RED list, IIROC, AMF, BaFin, ASIC, and the IOSCO investor alerts portal cover most scams within 30 days of first complaints.
- 4
Refuse 'remote access' and screen-share requests
Real brokers never ask for AnyDesk, TeamViewer, or RustDesk access. Anyone requesting this is preparing to drain your bank or wallet.
- 5
Test a small withdrawal before depositing more
Deposit the minimum, trade once, request a withdrawal. If the firm invents fees, delays, or new KYC steps, every dollar above the minimum is gone.
If you've already been scammed — where to report
Get the cloned site delisted from Google + flagged by Safe Browsing.
Exchange freezes, USDT/USDC freezes, IC3 templates.
APWG, brand-abuse reporting, and email-header capture.
All channels — phone, email, text, crypto, website.
FAQ
How do I check if a broker is licensed?
Search the regulator's own register by the license number AND the broker's exact domain. FCA: register.fca.org.uk. ASIC: connectonline.asic.gov.au. SEC: adviserinfo.sec.gov. FINRA: brokercheck.finra.org. CySEC: cysec.gov.cy. If the domain isn't listed under the firm's record, it's a clone — the license number is real, the website is not.
What is a clone-firm scam?
Scammers register a copycat domain (e.g. 'jpmorgan-asset.com'), reuse a real licensed firm's name and license number, and pitch unsuspecting investors. The regulator's register lists the real firm's actual domain — if it doesn't match the website you're looking at, it's a clone.
Why do fake brokers always block withdrawals?
The 'blocked withdrawal + unlock fee' pattern is the scam itself. The deposit was never invested. Demanding a tax, AML deposit, or profit-release fee is the second payment in a two-step extraction. No legitimate broker withholds your funds pending a personal fee — fees come out of the balance, not as new deposits.
Can I get my money back from a fake broker?
Card chargebacks can work within 60–120 days. Wire recalls sometimes work in the first 24 hours. Crypto can be frozen at compliant exchanges within 72 hours of IC3 filing. Anyone who DMs you afterward promising 'recovery for a fee' is running the recovery-scam playbook — report them too.
Are St. Vincent, Comoros, or Marshall Islands brokers safe?
Those jurisdictions have no real broker oversight — registration is a filing fee. Brokers domiciled there are not 'regulated' in any meaningful sense. Stick to firms licensed by FCA, ASIC, CySEC, FINRA, SEC, IIROC, BaFin, AMF, or MAS.
Is the broker's trading platform real if it shows live charts?
Live charts are trivial to embed from TradingView — they prove nothing. What matters is whether your 'trades' actually hit a real market or are simulated server-side. A custom in-house web platform that's never audited and not MT4/MT5/cTrader is the strongest single signal of a fake broker.
Where do I report a fake broker?
Three places in parallel: (1) the regulator the broker claims to be licensed by (file a clone-firm report), (2) GACS at /report for the public database, (3) your bank or the receiving crypto exchange to attempt a freeze. Full playbook at /how-to-report-a-scam-website and /how-to-report-crypto-scam.
Add this scam to the public database.
30-second anonymous report — protects the next person who searches.
Report a scamCite this page / Press kit
Journalists, researchers and educators are welcome to cite this page. Use the permalink below or copy a ready-made citation.
https://gacs.app/fake-broker-scams- APA
GACS. (2026). Fake Broker Scams — 2026 Guide. GACS — Global Anti-Crime & Safety. Retrieved June 25, 2026, from https://gacs.app/fake-broker-scams
- MLA
"Fake Broker Scams — 2026 Guide." GACS — Global Anti-Crime & Safety, GACS, 2026, https://gacs.app/fake-broker-scams. Accessed June 25, 2026.
- Chicago
GACS. "Fake Broker Scams — 2026 Guide." GACS — Global Anti-Crime & Safety. Accessed June 25, 2026. https://gacs.app/fake-broker-scams.
- BibTeX
@misc{gacs_fake_broker_scams, author = {GACS}, title = {Fake Broker Scams — 2026 Guide}, howpublished = {GACS — Global Anti-Crime & Safety}, year = {2026}, note = {Accessed: June 25, 2026}, url = {https://gacs.app/fake-broker-scams} }
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