The Forex industry is one of the scammer’s favorite grounds. Since the industry is generally known as a legitimate investment option, it is very hard for the average person to differentiate the scam brokers, from the legitimate ones. Usually, most people don’t even know they’ve been scammed, they just think they had “A bad trading day”. If you feel that the way you lost your money trading, is more than just a “bad day”, contact us now. If your Broker is a fraud, we might get your money back.

Here at Fintex, we want to make sure you know everything there is to know in regards to forex scams and fraud. While our primary job is to help recover financial loss for clients who have been scammed or being involved in some kind of fraud, ideally we want to help you avoid these scams in the first place. So be vigilant and knowledgeable.


Forex is the single largest traded market globally, with up to five trillion traded each day and is considered decentralized because there is no central processor for trades– in other words, there is no entity that acts as a central exchange like the NASDAQ or the NYSE. Instead, orders are completed by millions of traders using millions of various forex brokers around the world.

Foreign currency trading is one of the most leveraged markets in the world as well. In the US, regulations limit a person to 50:1 leverage. In other countries, they have zero limits on leverage. It is not uncommon to see some non-US brokers offer 1000+:1. Due to these factors and a few others which we will discuss, this is why scams can be so prevalent within the foreign exchange market.


In the investment world, forex is the wild-west of traditional financial instruments. However, most of the participants are massive institutions like banks that help companies manage cross-currency rates for payroll or buying goods. But it is by far the most accessible and cheapest investment for anyone to make. A futures broker may require a $5,000 minimum investment; whereas many firms in the foreign exchange markets require as little as $1. Day trading stocks in the US requires a $25,000 minimum balance; forex does not require this.

The ease of access to significant leverage, and the fact it is open 24 hours a day all make it the most appealing market. But this also attracts many of the bad actors. Some countries regulate forex markets – but not always to the same degree as the US. Many countries have little to no regulation and allow anyone to open a brokerage account in their country. There are many, many bad brokers around the globe – so it’s often best to stick with brokers that are based in the US, EU, or UK.

Broker’s leverage

  • The US and EU (more recently) have limits of around 50:1.
  • If you see a broker offering 500:1, 1000:1, or anything beyond a conservative amount, stay away. This is a predatory action.
  • Avoid any broker that is not clear about margin requirements

Broker’s undisclosed parameters

  • Avoid requirements for a minimum Stop Loss or Profit Target
  • Avoid requirements where you must have a trade open for a certain amount of time before you can exit.
  • Avoid anyone that doesn’t allow you to create your own risk management profile.

Broker withdrawal rules

  • You should be able to withdraw your money from your brokerage account at will – but some don’t allow this.
  • Avoid minimum requirements for volume traded before you can withdraw.
  • Avoid anyone that doesn’t disclose their withdrawal rules.

Broker spam

  • Avoid sites that have side advertisements and banners promoting a single broker.
  • Avoid anyone or anything that recommends a single broker.
  • Avoid any broker that is not clear about margin requirements

Automated Trading or Artificial Intelligence (Bots or Robots)

  • It is best to avoid anyone selling forex robot trading systems
  • AI systems have existed since the 1990s for retail investors– but nearly 100% of them fail.
  • Automated Trading systems are a common way fraud is committed by forex scammers.

Flashy advertising or false lifestyles

  • Avoid any service or individual who has ‘high lifestyle’ imagery, such as girls in bikinis on a yacht, Lamborghini or Ferrari in the background, massive mansion or house, or a private jet.
  • A good rule to follow for any investment or speculative endeavor: if it looks or sounds too good to be true, it probably is.


Recovering funds in the forex trading market is difficult. The difficulty increases when you use an unregulated broker. Adding to the problem is the near impossibility of recompense from the scammers who defrauded you.

But we at Fintex have a proven track record of success in helping investors who have been the victims of a scam or fraud. We are a regulated fund recovery company that focuses on some of the more complicated financial investments: forex, binary options, cryptocurrency, and stocks.

In addition to our professional forex recovery services, our team of experts focuses on customer outreach and we attempt to mitigate the damage that fraudulent actors have caused to our clients. Contact us today for a free consultation and our professionals will work with you throughout the entire process to get you maximum returns!

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