Fake Trading Platforms To Avoid
Here is the list of the most recent fake trading platforms. Please keep in mind that they often change names, so it is really almost impossible to trace them all.
📌 Scam Brokers Flagged by Experts & Regulators
According to WikiFX, several unregulated or black‑listed platforms posing serious risk include:
❗ OneStepFix – no oversight, extremely low trust score 1.25/10
❗ Titan Capital Markets – lost its Appointed Representative license under ASIC, now (28 July 2025) under scrutiny.
❗ XPO (BotBro) – offers CFDs & crypto, unlicensed and flagged.
❗ Others including Yorker Capital Markets, Professional Toptrade, Plutoforextrade, panfxtrades, and CBFInvest – all listed on FCA watchlists for false licensing and unbalanced claims.
From FXLeaders’ updated list of 2025 worst forex brokers:
❗ DDFutures, Canabis Trader, Calloway Software, Prime Trading, NAS Broker, Tradorax, and Panamoney’s – all notorious for regulatory deception, lack of transparency, and blacklisting.
🗣️ Platforms Widely Reported by Real Users
Reddit and community forums warn about newer fraudulent platforms:
❗ Forex‑autotrades.com – domain registered in April 2024, unregulated with serious withdrawal complaints.
❗ Traderoom24 Crypto – promises unrealistic returns, heavy user complaints, likely a high‑yield trap.
❗ Tradetip‑analysis.live – investors report blocked withdrawals and deceptive practices.
❗ Futurewealths.ltd – launched mid‑2024, lacks regulation and traceable company history.
❗ Dynamicspipspro.com – no transparency on ownership, no regulatory proof, suspicious testimonials and design.
❗ 247fxtm.com – poor trust score, unsupported by broker reviews, serious withdrawal concerns.
🚩 Warning Signs of Fake Trading Platforms
According to Investopedia (July 2025), key red flags include:
⚠️ Guaranteed or risk‑free profit schemes
⚠️ Platforms that pressure you to deposit fast or only accept crypto
⚠️ Newly registered domains (weeks or months old)
⚠️ No verifiable license or regulator listing
⚠️ Vague company information, fake addresses, or zero customer service contact info
📉 Historical Cases of Large-Scale Trading Scams
‼️ Mirror Trading International (MTI) – a South African crypto Ponzi scheme that defrauded over 100,000 investors worldwide and was declared unlawful by courts in 2023.
‼️ Banc De Binary – formerly a major binary options broker shut down in 2017 after heavy regulatory penalties across multiple jurisdictions including the U.S. and EU.
‼️ USI‑Tech / Eyeline / WealthBoss – successive rebrands of a Dubai‑based crypto/forex Ponzi program that stole hundreds of millions globally.
🛡️ How to Protect Yourself and Spot a Scam
✅ Verify Regulation – always confirm listing on official sites like FCA, ASIC, CySEC, CFTC, etc. If it's not there, likely illicit.
✅ Check online forums – users often share withdrawal issues, fake testimonials, and site shutdowns.
✅ Look for domain age and transparency – legitimate firms usually have established histories and clear corporate credentials.
✅ Perform a small deposit and withdrawal test before committing larger funds. ATTENTION: This does not always work. Scammers might even allow you to withdraw your initial deposit to gain your trust.
✅ Don’t trust unsolicited contact – cold emails, WhatsApp, Telegram pitches promising high returns should raise alarms.
✅ Report suspicious platforms – use authorities like SEC, FCA, CFTC or websites like BrokerComplaintAlert and WikiFX Exposure. Gather evidence, take screenshots, cut off contact immediately.
✅ Trusted Resources
☝️ Investopedia: guide to spotting scam platforms & withdrawal tactics Investopedia
☝️ WikiFX: compiled listing of black‑listed brokers by region
☝️ Community forums like Reddit’s r/Avoid_crypto_scams, r/brokercomplaintalert, r/Scams
IF YOU WERE SCAMMED, CLICK HERE TO GET HELP.