Beware! is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers. is not an impressive scam attempt – all the signs of fraudulent activity are there if you know how to read them. The broker is not licensed, offers horrible trading conditions, and has added an abundance of clauses to its Terms and Conditions designed with the specific aim to rob you. Trading with such a broker would only result in huge losses – so avoid at all costs. REGULATION AND SAFETY OF FUNDS provides contradictory information when it comes to its location. The broker states that it is based in the Commonwealth of Dominica but also claims that it is governed by the laws of Poland.

This could not be a Polish-based broker – as part of the EU, Poland imposes the same laws as all other EU countries. This means that bonuses are banned, and no broker could offer leverage higher than 1:30 to retail clients – offers both bonuses and high leverage.

It is easier to believe that the broker is based in the Commonwealth of Dominica – the financial authority of this country does not consider forex trading as a separate industry – which means that there are no laws in the sphere, and no licenses for forex brokers. If you have set up a company there, you could start offering such services right away – and your activities would not be monitored by a strict authority, and you would not have to meet any sort of essential requirements.

The situation for brokers licensed in the UK (by the FCA), the EU (by a reputable EU regulator, preferably the Cypriot regulator CySEC), or in Australia (by ASIC) is much different. Such brokers must follow many laws and procedures, report to some of the sternest authorities in the world, and regularly release transaction information to ensure transparency. There are many requirements for brokers willing to obtain a license – firstly, they have to prove their financial stability by maintaining a minimum capital of €730 000 in the UK and the EU, and A$1 million in Australia. Negative balance protection is a mandatory element of such brokers’ offer –  you could never lose more money than you have in your account as a retail client. Client funds must be kept in segregated bank accounts to prove that the broker is not using your investment for their own business activities and to protect it in case of unfortunate events.

Always check license information – working with a regulated broker is the best way to avoid scams and stay safe while trading. TRADING SOFTWARE offers a common Webtrader:

This platform is easy to use and offers some decent charting and analysis tools, as well the chance to set signals and a built-in economic calendar – however, you will probably quickly grow tired of it. We would advise even beginners to start trading on a more functional platform like the popular MetaTrader 5 – this software is still very intuitive and user-friendly but it also provides access to far more additional features. You could trade automatically with help of Expert Advisors, create your own trading bots and indicators, and not only set signals but also subscribe to those set by others, see how good your strategies are with a multi-threaded Strategy Tester, purchase additional trading apps, or exchange experience with others in a community chat. MT5 is an all in all amazing platform – see what it has to offer for yourself. TRADING CONDITIONS asks you to deposit at least $250 in order to open an account with them. Keep in mind that if you open the cheapest, most basic account, you would only be allowed to trade currencies. In the meantime, many established brokers would provide you with access to a full range of markets and might ask for as little as $10 to open an account – so turning to scammers is not worth it.

The spreads the broker offered were around 3 pips on EURUSD – which is enormously wide and would probably not result in any great profits. Such a spread means you would end up paying $30 for every lot you trade to the broker – and when you are paying such high commissions, you cannot expect decent profits.

The leverage we were trading with was 1:200 and could not be changed from anywhere in the settings. This is bothersome since trading with high leverage is risky – while it could indeed lead to bigger profits, it could also result in much bigger losses. That is why some sort of leverage restrictions exist in many jurisdictions – and why it is essential for you to be able to set your leverage yourself. DEPOSIT/WITHDRAWAL METHODS AND FEES offers clients the chance to invest using a credit or debit card, or in Bitcoin – there are, supposedly, no deposit and withdrawal fees. Deposing with this broker is not a good idea since they are extremely unreliable – but if you already have, there might still be a way to retrieve your money. Both Visa and MasterCard allow chargebacks within 540 days of the transaction – this is the companies’ way of combating scams. However, if you have deposited using Bitcoin retrieving your money would be impossible – all crypto transactions go into a ledger that cannot be changed or tainted at a later point. This makes them irreversible by default and means you would not be able to retrieve your money if you have already deposited it. charges an inactivity fee but does not mention the size of that fee or after what period of time it is charged.

The broker also offers bonuses – the only problem is that if you have accepted any sort of bonus, you would have to reach a turnover of 25 times the bonus amount plus the bonus before you could withdraw anything from your account.

No legitimate broker would ever deny you access to your profits and deposits, even if you have received a bonus. Scammers, however, are more than eager to add such clauses to delay your withdrawals as much as possible. They also tend to change their Terms and Conditions without prior notice so those turnover requirements might constantly grow, and you might find it very hard to withdraw your money at any point.

There is a reason why bonuses are banned in many jurisdictions – if an unreliable broker mentions anything about promotions, you should be extra careful.


Such scams are rarely very imaginative – they usually follow the same pattern but still manage to trick a lot of people. This is mostly the result of people’s desire for fast, easy profits – something only a scammer can promise you – and poor fact-checking. Always read all terms carefully, and check license information – you should be completely sure you can trust your broker before depositing with them. Getting acquainted with how scams work is also a vital step if you want to avoid fraud.

It all starts with you seeing some sort of ad on the Internet for the broker’s website. You have surely heard of people getting rich by trading, or maybe you just get tempted by the promise of making profits with relatively little effort – scam brokers rarely mention the risks of trading, especially with zero knowledge, or provide you with educational material that could actually help you trade successfully. All you need to do, according to them, is deposit a certain amount of money, and you will see profits soon enough.

But you don’t even need to deposit to set the scam in motion – you just need to provide the scammers with your phone number and e-mail address. After that, they will not leave you alone before you deposit. And such people are well-versed in the art of smooth-talking – they are usually quite convincing and will persuade you to transfer the money in no time. Once you have deposited though, they will keep asking you for bigger and bigger deposits. And you will gladly invest more – because at this point you are probably turning a profit. However, once you try to withdraw those profits, matters will get complicated. The scammer will make up reasons why this is impossible – additional taxes or certain clauses in the Terms and Conditions, often related to bonuses. At some point, you will start figuring out something is wrong – but the scammers will be long-gone with your money by then.


Be advised that such stories rarely end with the client recovering their lost money – however, there are still some things you could do to recover it. More importantly, there are some things you could do to prevent further scams.

The first thing you should do is change all your banking passwords to make sure the scammers would not be able to get access to any more of your money. If you have installed any sort of remote access software and given scammers permission to access your computer, make sure to get rid of everything such people had you install. They probably claimed that installing such programs is necessary so they could help you but the truth is they just wanted access to your banking systems.

If you have deposited via Visa or MasterCard, ask your card provider for help – chargebacks are possible within 540 days. Notify the responsible authorities and make sure to share your story with other people – online, and in your circle of acquaintances. The more people know about this type of scam, the fewer people will become victims of scammers in the future.

Finally, don’t trust any company or person claiming they could recover your money for a fee – such “recovery agents” run another type of scam aimed at desperate people who have fallen victims to scam brokers. Sometimes those “agents” are the same people that robbed you in the first place.

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  1. All in this review is true.

    Eastspringinvestment is a fraud and scam company that will take your money and continue to try it even after you find out they are scamming you.

  2. hello need help
    being on where I was prompted to pay my money .. now certainly wrong
    I asked for the closing and since more news?

    do you have any info to defend me please


    hello besoin d aide
    etant sur ou j ai ete insite a verser mon argent ..desormais a tort certe
    j ai demande la cloture et depuis plus nouvelles ?

    avez vous svp des info pour me defendre svp

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