Traders Union Analysts Releases 2022 List on Scam Brokers

Before a person starts trading Forex, it is important to find a reliable broker. Some companies have been engaging in fraudulent activities and it is important that people know about it. Traders Union analysts have prepared an updated list of scam brokers 2022. These organizations have been engaging in illegal activities, scamming users, scheming with quotes and financial transactions. It is not advisable for traders to work with them.

Check out the best forex trading platform for beginners and select a reliable broker to trade with.

How does Traders Union select brokers?

Traders Union performs evaluation based on its own methodology. All brokers are assessed based on over 100 criteria, which are divided into five big groups. A broker is given a score for each group. Reviews of clients who have had an experience of working with the company and shared their feedback is a mandatory criterion. Analysts also identified the main features of scam projects.

Rating of Scam Brokers by Traders Union

There are thousands of scam brokers operating online, and it is important to avoid them. Regardless of the beneficial conditions they offer, traders won't be able to earn a profit, but rather will lose all of their money. Traders Union analysts have prepared an updated rating of scam platforms that ruined their reputation. 

●     Scammed clients using false and inaccurate trading signals.

●     Persistently offers to deposit money on the account, but it is impossible to make a withdrawal.

●     Uses aggressive marketing, blocks the accounts at withdrawal attempts. 

●     Does not allow clients to withdraw money, request additional "insurance", which is another way of stealing money.

●     Blocks client accounts, does not allow to withdraw money.

●     Used a scam with a personal manager, who gave wrong advice.

●     Do not allow to withdraw money, accusing the clients of violating the broker's rules, willfully alter client agreement.

●     Uses a copy trading system with false trading signals.

●     Offers a system of scam PAMM accounts, where people cannot withdraw money.

●     Blocks accounts once a client makes a deposit under the pretense of a "security check".

This is the list of Top 10 brokers with bad reputation. The Traders Union list features over 100 companies on the scam list.

How does Traders Union help its clients? 

Traders Union helps partners choose a broker. In addition to the list of scam projects, there is a rating of reliable companies, where a trader can find the most suitable option. If a Traders Union partner encounters a scam broker, he/she may request the services of the Union's legal service. TU provides legal support for its partners. Traders Union also helps you save money on your trades. The partners receive cashback (rebate) for the trading fees.

Media contact details

Company name - Traders Union
Company Email -
Contact person Name - Peter Halt
Phone number +35725060055 

Source: Traders Union