Fraudulent brokers are any illegitimate entities used to deceive traders into fraud or malicious attacks. Scammers work in a wide variety of ways, from claiming false strict regulation, fast and convenient withdrawal to other deceptive formats to give the impression of legitimacy. The end goal is almost always the same - scam your money.
Understanding exactly who are illegal and unregulated brokers and how to avoid dealing with them is an essential part of protecting your money. Therefore, BrokersView sets up “Scam” to facilitate public understanding of unlicensed brokers. After our exposure, fraudulent forex brokers have accelerated to close their websites. Recently, we found 12 unlicensed brokers are no longer to be available to everyone now. Here is the list:
1. Advance Stox
4. Margin Elite
12. Invest Chambers
If you want to know more detailed information about these brokers, you can click the underlined tracking link. For each one, we expressed strong reasons why it is concluded as a scam.