Safety · 5 min read · Updated 28 March 2026
Nine red flags of an unlicensed trading platform
Fraudulent platforms follow a script. Once you know it, they are easy to spot.
Regulators publish warning lists, but new domains appear faster than lists can be updated. These behavioural signals are more reliable than any list.
- Contact came from them first, through social media or a messaging app
- Promised or "guaranteed" returns, especially with a specific percentage
- Pressure to deposit today to "lock in" a bonus
- A personal "account manager" who wants to trade on your behalf
- Requests to pay in crypto to a wallet address rather than to a company account
- Withdrawals blocked until you pay a "tax" or "release fee"
- A licence number that does not appear on the regulator's register, or belongs to a different company
- No physical address, or an address that is a virtual office
- Reviews that are all five stars and all posted in the same week
If you have already deposited
Stop sending money, even if they promise it will unlock your balance. Contact your bank or card issuer about a chargeback, report the site to your national regulator, and keep every message as evidence.
This guide is general information, not financial, tax or legal advice.