Forex Brokers to Avoid
On this page we bring you a list of forex brokers where we feel there are too many signs of scamming going on for not giving you a warning before signing up with these brokers. We welcome you to share your own fraud experience with a forex broker in the comment field below. We will try to research all brokers that seem to use questionable practices. We’ll continuously add new brokers to the list based on our findings and your comments. Below you’ll find our current list of NOT trusted brokers.
- Trade24- NEW WARNING!!! 22 Sep 2016
- CWM FX
- Sigma Forex
- Crown Forex
- Forex Macro
- Cyber Market group
- Joe Lewis Trading (JLTrading.com): Although there have been no recent charges levied against Joe Lewis Trading. (also known as joelewis-trading.com, JLTrading.com and Lon-ist investment managers) we at ForexFraud.com feel there are enough earmarks that they may not be a secure and trustworthy broker. As such, we strongly caution against investing with Joe Lewis Trading at this time.
- Peregrine Financial Group
Included in this section are links to the regulation authorities that monitor and regulate forex brokers/firms. Here you can search for disciplined firm's and a firms license status. For purposes of this requirement, a disciplined firm is defined very narrowly to include those firms that meet the following three criteria:
1. The firm has been formally charged by either the CFTC or NFA with deceptive telemarketing practices or promotional material;
2. Those charges have been resolved; and
3. The firm has been permanently barred from the industry as a result of those charges.
To view the disciplined brokers list please visit:
Other Regulating Authories:
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