List of unreliable brokers (updated once a week)

Reading recent posts here it's obvious most people don't even know the right questions to ask or concerns to have. One broker mentioned here in glowing terms (beginning with A!) has a smaller capitalisation than most successful traders. Think about where your money is. Slippage etc is just a part of any active market, losing a few ticks on poor liquidity is nothing compared to losing 100% of your principle because of counterparty risk...

YEH WE BELIEVE YOU

I don't like giving negative feedback however I would like to warn people about PROFIFOREX. I have a live account and I have never in the past had any issues either depositing or withdrawing money from my account.

On 13th December I withdrew $1082 and on the 27th December I withdrew $206. Both amounts have left my account but neither and been transferred into my bank accounts.

I have sent numerous emails with only 2 being replied too and the reason given for the delay is a "mistake" from the processing company. As of 14th January, a full month since the 1st amount left my trading account, I am still waiting for the money to be transferred or even a satisfactory explanation for the delay.

If you are thinking of going live with Profiforex please be careful, this has been (and is ) a very frustrating experience.

Nick

What do you guys think about plus500? Ive heard lots about them, they have many ads in Czech republic, but Im not sure if they are legit

Hi... This is my first post. When I read this thread, it was perfect for my first... This first contribution of mine, youll see is a very important one for me, as I was scammed with 40.000 euros... My personal email address is { email address deleted by staff }, and I am available to help others to avoid my situation, by sending all my evidences. You can find out the whole thing next.

SCAM SCAM SCAM They crash any successful account with fake trades and spikes.

On last December 2016 I opened my VIP account 232516309, and funded it with 28.800 euros (twenty eight thousand euros). After 2 weeks my excellent, usual EA (which I use several years ago, and I coded myself after 2 years work). had make 10.287 euros benefits. AAFX immediately put a fake crash out my account by planting huge trades and faking after that a ridiculous spike of 225 pips on the market.

Even if the whole thing was very clear, I kindly sent them every probe: my MT4 records (showing 13 orders for 0.15 sizes, not those 15 lots each one they planted one second later on my account, 195 crazy lots in total!), and a image compilation comparing the fake candles they put on my account not only with many other brokers, but also with another account with them, which they didnt know I had on another name.

On 8 working days my EA traded almost 1.250 lots (a dream for any honest broker), and ruled 12.000 small size trades up to 0.30 size. Always the very same sizes once and once again. After 18 days, they still didnt answer anything, but on their Live Chat (who pretend ignorance, but after some lines they know everything and repeat non stop the scam scheme) they tried to fool me stating Those trades were ordered from your IP, always ignoring the facts and my words: Of course my EA ordered 13 trades of sizes 0,15, no those 100 times bigger planted on my account one second later. The Metatraders Journal shows very clearly what it ordered and what you planted in exchange on my account.

But they just ignore this second part of the chat (Of course my MT4 ordered 0,15 size trades, not those 100 times bigger huge sizes you planted on my account), and also any reference about the scandalous fake spikes: 225 pips fall when the market didnt move more than 20 in any broker on this world, nor any other account of them!
AAFX is a pure scam. They do not process any trade at all, just wait for customers loss their monies, and if they dont (like in my case) they pretend fake crashes of the accounts by planting crazy trades and fake market spikes. No wonder they do not offer PAMM accounts, or the Autocopy system, and so many other things, like a real broker who needs customers to succeed in order to have volumes as large as possible.

AAFXtrading stole me 40.000 euros. The only money I was able to withdraw were my first days 1.200 euros benefit, which I asked on that day and, after many lies, and insistence, I finally got 14 days later. And, funny enough, my account dashboard showed that amount was taken from my own deposit.

Of course, I have the whole documentation and evidences, and I will share them, to help others to prevent this scam. You can write me at { email address deleted by staff } and I will gladly send you the whole documentation.

Just stay AWAY from AAFXtrading, PURE SCAM. NEVER, EVER, send them one cent: you will lose it too.

Pure scam, you can avoid it.

It seems that trusting any broker is becoming harder and harder each day as many new brokers joining the market every day and most of them winding up so it is good to check broker's feedback before finalizing them.

how about trading 212 guys?

Is the list based on the amount of forum threads with negative feedback? Doubt about how it can actually save you from broker mayhem, although its a good idea about common issues traders encounter with the brokers in the list.

Thanks, lol.. :/ I deposited 100 USD with them to test and now I tried to withdraw, lets see if they let me

I am not sure about all others but Instaforex is very poor and they scammed me a lot of money so I really request people never to trade with this stealer!