Unsafe & fraudulent brokers

AFX Capital Markets was a licensed broker for over seven years before it collapsed in 2019 with a material deficit in client funds. CySEC suspended its licence on July 19, 2019 and the FCA followed on July 31, ordering an asset freeze. Italian Consob added the firm to its warning list. Client funds were not properly segregated; victims received only partial FSCS compensation.

AmeritForexTrade promises 'guaranteed earnings' and 'huge ROI' to lure retail traders, then systematically denies withdrawal requests and locks accounts after large deposits are received. The firm has been flagged by the FCA and the Financial Commission for potential fraud.

FX Trade Pro (fxtrade.app) is an unauthorised clone firm that impersonates the legitimate FCA-regulated broker FxPro. The FCA has issued a formal warning confirming the firm has no authorisation to offer financial services in the UK. Multiple victims report being unable to withdraw funds, with the firm vanishing after receiving deposits.

FXC Markets is an FCA-identified clone firm impersonating FXCM (Forex Capital Markets Ltd), a legitimate FCA-authorised broker. The FCA first published its warning on 5 April 2018, with a subsequent update in October 2022. The firm uses fraudulently copied credentials to solicit funds from retail traders, with victims reporting withdrawal refusals and complete loss of deposited funds.

Fast Forex Trade Lab is an unauthorised firm that targets retail traders on social media with outlandish profit claims - including 'INVEST $600 GET $7,000' and a purported 95% signal success rate. The FCA issued a formal warning in March 2023. Clients report complete inability to withdraw funds after initial deposits.

IMC Capital falsely claimed to be regulated by CySEC and ASIC - neither regulator confirmed any authorisation. Both the FCA and BaFin issued formal warnings within days of each other in October 2024. The firm's website uses a known scam template also deployed by Equitymcapital, and client funds are entirely unprotected.

Mic-Market (micmarkfx.com) falsely claims to be licensed in Cyprus, the US, and South Africa - the FMA (New Zealand) confirmed on 3 December 2024 that none of these claims are true after the firm contacted a New Zealand resident. Mic-Market is also linked to Trader AI, which was separately warned by ASIC. New Zealand investors have no protection against this firm.

Olsson Capital was warned by the FCA in March 2018 and received a BaFin cease-and-desist for operating as an unauthorised proprietary trading firm. Operating via Carter Enterprises OU with a Bulgarian operation despite Estonian registration, the firm used aggressive cold-calling tactics and also ran the separately BaFin-warned Weiss Finance. The site is now offline.