This Week’s List of "Scam Brokers Is Out!" Checkout Now

PAY ATTENTION INVESTORS AND TRADERS! WEEKLY SCAM ALERT LIST IS HERE! Check out this list carefully. There are 8 scam brokers you need to watch out for! These brokers are known for fraudulent practices and can steal your hard-earned money if you're not careful.

1. Secure FX – www.wikifx.com/en/newsdetail/202508215244775655.html(You can click on this link to read the full article about SecureFX)

This is the first fraudulent broker you need to be aware of. The UKs Financial Conduct Authority (FCA) issued a public warning against SecureFX in 2014. It is not regulated by any top-tier financial authority like FCA (UK), ASIC (Australia), or SEBI (India). SecureFX Options has an alarmingly low trust score of just 1.97 out of 10. This rating indicates extremely poor credibility, user satisfaction, and platform transparency. Aditionally, SecureFXs website suffers from serious quality and accessibility issues. In many cases, the site either fails to load or displays error messages, making it impossible for users to access essential information

2. OmegaPro- www.wikifx.com/en/newsdetail/202508191244443855.html(You can click on this link to read the full article about OmegaPro)

It is second fraudulent broker you need to stay away from. OmegaPro has received a very low rating of just 1.56 out of 10 on WikiFX. This poor score raises serious doubts about how reliable and trustworthy the broker is. A rating this low can be a warning sign for traders, The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), both of which had already blacklisted the website www.omegapro.world back in 2020

3. SimpleFX - www.wikifx.com/en/newsdetail/202508183144991485.html(You can click on this link to read the full article aboutSimpleFX )

SimpleFX is the third one. It is Poorly Regulated Broker regulated by a lenient offshore authority such as FSC , FSCA with little to no enforcement power. These types of regulators do not follow strict compliance rules. SimplyFX has a low score of just 1.65 out of 10 . This score reflects poor performance in key areas such as transparency, customer support, withdrawal process, and platform quality.

4. TenTrade- www.wikifx.com/en/newsdetail/202508213724780226.html(You can click on this link to read the full article about TenTrade)

A non-functional website is a major red flag for any online trading platform. If users are unable to access or navigate the site smoothly, it raises concerns about the brokers reliability and professionalism. Limiting traders to only MetaTrader 5 can restrict flexibility and personal trading preferences. While MT5 is a powerful and popular platform, some traders prefer alternatives like MetaTrader 4, cTrader, or proprietary trading apps that offer unique features.

5. Neotrades - www.wikifx.com/en/newsdetail/202508201164149430.html(You can click on this link to read the full article aboutNeotrades )

Neotrades has a very low rating of just 2.18 out of 10 on WikiFX, a well-known platform that reviews brokers. One major warning sign is that NeoTrades Capital Ltd claims to be regulated by Mauritius and CySEC, but these are not considered strong regulators. Brokers with weak regulation often operate in legal grey areas.

6. SOHO Markets- www.wikifx.com/en/newsdetail/202508203654704293.html(You can click on this link to read the full article aboutSOHO )

SOHO Markets has been flagged by WikiFX, a well-known third-party platform that reviews and rates forex brokers. When a broker receives a warning from WikiFX, WikiFX issued warnng stating –Warning: Low score, please stay away! While searching for SOHO Markets, We found on WikiFX that many users are sharing negative experiences with SOHO Markets. The most common complaints include withdrawal issues, account restrictions, and wallet blocking.

7. Firstrade - www.wikifx.com/en/newsdetail/202508194324626285.html(You can click on this link to read the full article aboutFirstrade )

Firstrade does not support trading in forex, futures, or cryptocurrencies. Firstrade does not offer demo account option available on this platform. This means users must trade with real funds from the beginning.

8. QuoMarkets - www.wikifx.com/en/newsdetail/202508195264246286.html(You can click on this link to read the full article about QuoMarkets )

A user filed a complaint against the unlicensed forex broker QuoMarkets, claiming that the platform not only refused to process his withdrawal but also accused him of blackmail.

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