Forex broker scam: currencies and CFDs

This is the most frequent case we see. A platform offers currency or CFD trading, shows steady profits on the client's dashboard and, when a withdrawal is requested, taxes, fees or audits appear that must be paid first. The balance on screen does not always correspond to real trades.

What we usually find

• A personal adviser who accompanies every deposit and pushes for more.
• Profits with almost no losses from day one.
• Payments made by transfer, card or crypto to third-party accounts.
• The company does not appear in the registers of the CNMV or the relevant regulator.

Documents needed

• Proof of every payment, with date and amount.
• Conversations with the adviser: emails, WhatsApp or chat screenshots.
• Screenshots of the platform dashboard and of the withdrawal requests.
• The name and website of the platform, even if it is no longer online.

What can be done with them

We rebuild the timeline, follow the money as far as the trail goes and identify which entities and jurisdiction the claim should address. What happens next depends on those entities and on the competent authorities.