How to recognize the Scam Brokers?

[Cone D]

Mike,

thank you for your share the bad experience about the scam brokers…

There is a little bit legitimate brokers and it`s too complicated to distinguish the legitimate brokers from scam brokers!

[Tom Storm]

Hello everyone,

I’ve come to scam brokers who tried to get me into their scheme, but for my great happiness I managed to avoid them. The scam brokers have wanted to invest my money and they said me thah will manage them, but I have been heared about Scam Brokers and I don`t trusted them.
I think that everyone who have bad experience with Scam Brokers and can share with the people in the forum can be protect them from scam brokers, beacause there are many bad stories about them.

[Laura Stone]

In some courses of the academy you can see lecture about the Scam brokers with advices and different situations in which you can easy recognise the scam brokers. It will be useful for everyone, mostly for the begginer trader, which are attacked often from scam brokers, and they want to take you your money. Be Carefull!

[Tom Storm]

Hello Laura,

thank you for your advice. Yes, I saw the video about the Scam brokers in many courses of the academy. I think that everyone NEVER MUST BE TRUSTET IF ANYONE CALL HIM AND SUGGEST TO MANAGE HIS MONEY!!! It is clear that it will be totally liar and everyone at first must be read this topic or see the lectures about Scam Brokers from the Petko course, because “people this is your money,do not give them to someone who will lied you!” First of all you can learn a lot and than you can trade alone, without someone who promise you that will be manage your money (Scam brokers, again!) Be carefull and read the first publication in the topic “How to recognize the Scam Brokers?” -there are really many advices that can be protect you!

Cheers!

[Deniza]

I never thought that the Scam Brokers are like profession and they lie so much !!! Thank you for everyone for advices and mostly from Svet !

[Tina]

Why people do not study for trading and rely on that someone (the scam brokers) will be manage their money? I think that all money that you give for someone who “promise to you to manage your money” you can invest for education and for courses. Yes, it is takes away more time, but it is more reliably

[Petko Aleksandrov]

I am glad that this topic helped many new traders to avoid the Scam Brokers.

[Travis Nose]

I see in many courses that Petko explain in details about Scam Brokers and how to protect from them, so I think that it is good to learn more before you go to trading. There is basic course and courses for more advanced traders.

Good luck traders and be carreful!

[Svet Mentor]

We hope taht more and more people will udnerstand from this topic about the Scam brokers, and now after they were scammed.

[Pipster]

If I may jump in and add a bit of advice.
Always check, check, check if the broker you’re looking at is regulated (and where).
Do NOT trust a line on the website that says “We’re regulated by XXX (insert regulator here)”.
Make sure to go to the regulator’s website/register and find that broker there.
Important note! – Double check if the broker is licenced/registered or regulated. There is a difference.

For example: if a broker is regulated by BaFin (Germany), but registered in ACPR (France) and FCA (UK) if you have a problem – you have to contact BaFin, not the licence providers. You can contact them as well, but they will only be able to forward your inquiry to BaFin, instead of handling it themselves.

[James]

I read the EA BLOG and this article https://eatradingacademy.com/crytpocurrency-trading-brokers-exchanges/ and for first time I saw the term “Scam brokers” in this forum. I am really surprised how many people shared their bad experienced with the Scam brokers. I have never before heard for them and this is really new thing for me which will be very useful in the future, because I am beginner traders. Thank you for the academy and for everyone who share this information!

[Petko Aleksandrov]

Guys, I am very happy that this article turned to be so useful. Also, want to say THANK YOU one more time to the people who are sharing their bad experience with the scam brokers.

I really appreciate that!

[Violet]

Dear friends,

I decided to share my bad fortune with the brokers, even I wanted to keep it for my self and just forget it, I do not think I will ever forget it.

However, I have decided that it will be more useful if I share it…

It all started last September when I have registered for some online robot that brings 90% profit on monthly basis, I do not know I could have believed that I why I did put money it to it. By the time I realized that this is not real, I have funded the X company with more than 25K euro. These were my savings for the last 3 years.

Last month I came across to one of the courses from Petko, because I decided that this will be my job(after I have earned more than the invested capital in 8 months, my account was over 60k with the account manager).

Than going over the course from Petko, I stated to doubt the methods and the systems this manager was following, and finally I came to this topic and realized that it was all a lie. I started to ask them to redraw some of my money, and there were always reasons to be refused. One day they stopped answering the phone…

Even I am not going to practice trading anymore(or for sure until I forget this all), I am happy I met the courses of Petko, because he made me realize the stupid mistake, and if it was not him, I would have placed more money into that company. So I am very thankful to him, and that he is one of the few people who fights the scam brokers and helps the students to recognize them.

So, what to say more, if you are reading this and you still did not fund an account with any broker, consider yourself to be lucky and a winner already.

Anyway, may be when I save some money again, I will go over the courses from EA Forex Academy, and do trading by myself, but for the moment I do not have nearly any money left and my mind is so tired that I do not think I will be able to do it…just want to forget it..

[jacque]

I got ripped off by a scam broker recently it was difficult to get a withdrawal, I had to hire a recovery solution company to get my money back. Glad this is finally over and I got my money back.

[Petko Aleksandrov]

Thank you for sharing your experience Jacque. Glad to hear that you have recovered the money and got away from the Scam brokers.

[Author]

Posts