All About BotBro: Unregulated Forex Scam Costs Investors Millions

BotBro is an AI-based forex trading robot that claims to offer automated trades with assured high returns. However, the Enforcement Directorate (ED) of India has identified the platform to be one of the massive scamsters networks, including QFX Trade and Yorker FX, who altogether scammed the traders of a total of Rs. 170 Crore across India.

BotBro Score and Rating as per WikiFX

Lacking any regulations and licenses, BotBro also have a very low trust score of just 1.40 out of 10, with the influence index rating of ‘C’ and popping warning alerts on WikiFX, cautioning the traders to stay away from such platforms.

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More About BotBro, Its Offerings, & Allegations on It

BotBro offers 3 account types for traders with varying deposit and profit levels, and all these are accessible via MetaTrader5 platform.

However, the platform was not able to cope up to the traders‘ expectations and meet their demands for trust. Instead, it has been flagged for its lack of regulations and scammy practices, costing traders a significant portion of funds. Furthermore, there have also been concerns around the platform’s unclear business operations, advising traders to stay clear of it.

ED‘s Raid Revealing BotBro’s Scam

On February 11, 2025, a raid from ED revealed BotBro for conducting forex scams. Out of the network that has been exposed, there have also been accusations of the involvement of shell companies in money laundering and links to the hawala network.

The mastermind of the scam network, Nawab Ali, also known as Lavish Choudhary (a Dubai-based VC and owner of Abu Dhabi T10 cricket team), has been accused of operating a multi-level marketing scheme under BotBro that lures investors and traders with guaranteed returns via its 3 types of accounts.

BotBro also hired influencers, with minimal to no financial expertise, to create videos to convince and onboard their followers on the platform.

Traders Opinions about BotBro

The influencer network of BotBro and its marketing campaigns consisted of false promises of rewards, including SUVs and foreign trips. A trader from India has raised their concern about the platform on WikiFX, accusing BotBro of stealing funds from their account. Here is what they said along with the screenshots for proof:

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Furthermore, another trader from the Netherlands has also questioned the platforms credibility, accusing it of being a money-stealing platform rather than a money-making one.

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Not just this, but there has also been a Reddit thread that exposes the platform and its operations. Here is how it goes -

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Conclusion

BotBro has a lack of regulation from SEBI or FCA, causing regulatory oversights that give it a way to attract and scam investors. Traders, as well as YouTubers, have been exposing the platform, accusing it of fraud, based on the personal experiences of significant financial losses.

Amid all the chaos, ED continues its operations and is pursuing Choudhary, and is also suggesting that the scams scale may even extend beyond Rs. 500 Crore, impacting traders across India, Thailand, and Dubai. With such details, investors are advised to stay clear of the platform and not get involved with it in any way.