Enter Broker Name or Website:

Welcome to our reliable broker checker tool that allows you to verify the legitimacy of brokers across forex trading, stock trading, commodities trading, and cryptocurrency trading. Our tool helps you assess whether an online trading platform is trustworthy or potentially a scam, empowering you to make informed decisions before investing.

Broker Checker Fraud Statistics

Fraud is rising at an alarming rate, and if swift action isn’t taken, the world could soon be at the mercy of increasingly sophisticated scammers. This surge threatens to strain law enforcement resources, leaving more people than ever financially devastated or exposed to scammers.

In the United States alone, the Federal Trade Commission (FTC) reported that online investment-related scams led to over $10 billion in losses in 2023—a sharp rise from previous years, including 2022, when losses were just over $3.8 billion.

Recently released FTC data shows that Americans reported more than $10 billion in fraud losses in 2023, marking the first time this figure has reached such heights. This represents a 14% increase in reported losses compared to 2022.

Specifically, Americans lost more money to online investment scams (over $4.6 billion) than to any other category of fraud.

To help combat fraud and online scams, our 5-point verification process ensures every recommended broker is vetted for regulation, security, and withdrawal reliability. Read our full broker review methodology and ranking criteria.

ScamReader is more than just a broker checker tool. In addition to broker verification, we offer the following services:

1. Broker Reviews

We provide reviews of financial brokers and online trading platforms, covering both legitimate and scam brokers. Each broker review is independent, unbiased, comprehensive and intended to help you make informed decisions when it comes to investing in online trading. 

2. Scam Reporting and Professional Assistance

Our Scamreader broker checker also allows you to report a scam and seek professional assistance. Simply fill out and submit the form below.

3. Professional Advice on Online Investment

We provide expert advice on various online investments, including forex trading, stock trading, cryptocurrency trading, and commodities trading. Our guidance helps you make informed decisions, assess risks, and navigate the complexities of each market with confidence.

At Scamreader, you can check a broker’s legitimacy before investing, report a fake broker to your financial regulator, and begin the recovery process if needed. Try our broker checker for free now and empower yourself with information to stay one step ahead of scammers! 

Latest Broker Lookups

• BCHWorld.com, bchworldue.com, bchworldex.com: Flagged as a scam by our forensic team.
• Ghost Broker AI: The latest online trading or investing scam syndicates in 2026.
• Interactive Brokers: Verified: Tier-1 regulation (SEC, FCA, ASIC).
• SageFX Status: Scam Alert: 2026 CFTC Red-List entity. Reported withdrawal issues.
• Rakuten Securities (Clone): Scam Warning: 2026 Imposter platform spoofing legitimate licenses.
• Calibur Capital: Flagged: Unlicensed offshore entity targeting EU traders.
• FTE FX Pro: High Risk: Operates with a mismatched offshore registration.
• eToro: Verified: FCA and ASIC compliant social trading.
• Morgan Stern: Fraud Alert: Identified as an AI-powered “Ghost Broker” entity (morganstern.io).
• Ariol Investment Group: Scam Warning: High-risk offshore firm flagged for “tax” withdrawal scams.
• Bemo Investment Firm: Spoofing legitimate credentials to lure unsuspecting traders.
• Exness: A borderline between an ethical and unethical broker. A moderately risky trading platform that should be used with caution.
• IC Markets: Legitimate and trustworthy, licensed by the ASIC among other top-tier regulators.
• Pepperstone: Credible and licensed within 8 jurisdictions, including the UK, Australia, Cypress, and Germany.
• Charles Schwab: Trusted and licensed by the SEC, FCA, FINRA, MAS, and SFC.
• Webull: A highly credible, regulated, and insured brokerage with securities and cash protection of up to $500,000 (with a $250,000 limit for cash) if the firm fails.
• Robinhood: A good and privately insured online trading app offering coverage (up to $1.9 million for cash and $50 million for securities per customer).

Last Forensic Check: February 3, 2026.