Blacklisted brokers

Watch Out For Forex Scams and blacklisted brokers

See full report of blacklisted brokers at
The global financial market offers a great place to invest and become successful. Unfortunately, with this comes all manners of financial scams and investment fraud conducted on scam investment sites. The most prevalent of these seems to be forex trading scams. There are scam forex sites popping up all over the internet as more investors are falling victim to them. Since there is no guaranteed way to avoid forex scams, forex fraud has become a problem for many forex investors.

Forex Blacklist

The forex blacklist offers a list of forex sites that are associated with online trading scams. Most of the blacklisted forex brokers have been closed down as they have several lawsuits pending against them.

How Do Scam Forex Brokers Operate?

Forex scams can be difficult to spot, which is why they are so prevalent. In order to spot forex scams it is important to be knowledgeable about how these scam forex sites work.

One of the most common forex scams today is a basic Ponzi scheme for HYIPs. During the year 2014 investors in these type of scams lost over a billion dollars. A scam forex site will deceive investors into investing money with them with the promise of a high return in a short amount of time. The pools of cash are used to pay the investors and all the profits are kept to themselves. When these fund run out, the owners of the site bolt and leave their investors hanging.

Forex scam sites that offers fake advice

There are some forex scam sites and blacklisted brokers that will offer traders expert advice or trading robots that are totally worthless. These sites state that the robots will help the investor make money without doing much of anything. If you are on a forex site that is making this claim, it is completely false.

Forex investors often use forex trading signals as a tool to improve their investment opportunities. There are some scam forex sites that provide signals that are not accurate and claim that the signals will provide investors with quick profits. There are many investors who spend a lot of money on these fake signals that are worthless.

Another Forex trading scam that is common is for a site to manipulate spreads and then skim money off the top from commissions that have been inflated. Over recent years this scam has become less common because of an increase in investor awareness. However, there are still some unregulated brokers that use this technique, which is why it is important to only use regulated brokers for your investments. The only legit and regulated copy trading and robot trading are provided from Etoro and Avatrade.

How to Identify a Forex Scam or blacklisted brokers

It can be quite difficult to spot a scam or blacklisted brokers, even for experienced forex traders. The reason for this is because some of the Fraud forex brokers create scams that are extremely elaborate. However, there are some things that you can look for when trying to identify a fraudulent broker. Some of these include:

  • Regulation: every forex site is supposed to be regulated by a regulatory body. An unregulated forex broker is free to do what they want since there is no governing body monitoring their affairs. If a forex site is not regulated, chances are high that it is a scam.


  • Trading Robots: many scam forex sites claim that they have robots or automated expert advisors that will guarantee investors a quick profit. This claim is false. Typically, these sites will sell the software at outrageous prices as a way to convince an investor that they are real.


  • Forex Signal Sellers: forex traders rely on accurate trade signals. There are some forex scam sites that will sell signals that are false. The fake sites will charge for these signals and the investors will lose a lot of money paying for them.


  • Licensing: similar to an unregulated site, an unlicensed site is not bound by a code of ethics and therefore has no responsibility for their investors.


  • Transaction System: forex scam sites often have a payment system which is not secure. This allows them to simply take money from their investors


  • Poor track record: any forex site that has a poor performance record is often a scam and one that should be avoided


  • Guarantees that are unrealistic: if it sounds too good to be true, it probably is. Sites that promise a high return in a short amount of time is most likely a scam.


  • Terms and Conditions: the best forex trading brokers offer terms and conditions that are clear and concise. A scam forex site will use terms and conditions that are vague as a way to trap their clients.

Measures to take to Avoid blacklisted brokers

There are several things that traders can do in order to avoid a forex scam.

First, make sure to only choose a forex site that is licensed and regulated. It is also important to carefully read the terms and conditions for the forex broker. If you have any questions about the terms or conditions, contact the broker directly to ask.

To find the best forex broker it is important to read about Forex scams reviews and avoid any sites that do not have a solid reputation.

Most importantly, have expectations that are realistic. If you find a forex broker that is offering something that seems too good to be true, know that is usually the case. Most of the time people end up falling for forex scams because they become greedy and impulsive.

Fraudulent and blacklisted Brokers

Below you will find a list of blacklisted brokers listed by There is no connection between Topinvesto and the below blacklisted brokers. If you want to report any abuse by one of the brokers on the list or any other fraudulent broker, use the contact us form.

Some things to remember about will not contact any user by phone. Do not trust anyone who calls and states they are an employee of

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The data and information that is provided on our website is there for free and meant for use by the general public. Investment consulting services are not provided and we will never promise any type of investment result. 


Below you will find hundreds of forex, binary options and crypto currency brokers that have triggered public warnings by Supervisory Authorities which is taken from database.