E-mail: forexbrokerslab@yandex.com

Hi!I’m Valentin Cote and I am the founder of this blog. In this blog, I review brokers according to the demands of the visitors. I also write useful content for traders. My goal is to share what I know about the forex world.

I have been trading in the forex market since 2009. The first years were spent losing my money to scam brokers. Because 10 years ago, regulations were not very active, it was difficult to find information on the Internet. There were no investigative people writing broker reviews. So unfortunately, people are losing money because of scam brokers. But many things have changed today. In 2019 it is your fault that you lose money because of scam brokers, not your broker. Because experienced traders like me share everything you need to know about brokers.

Ask Me Anything

  • What should you look for when investigating a broker?
  • Which criteria are important for reliability?
  • Are there any problems with depositing and withdrawing brokers?
  • Are there chronic problems about the broker?
  • And how do you investigate all this?

I give detailed answers to all of the above questions in my review. I know there are other experienced traders who share their knowledge and experiences like me. If you have any questions other than these, you can also ask in the comments section at the bottom of this page.

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You can ask me anything you want. I will try to provide detailed answers within my knowledge. I will answer your questions as soon as possible.


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  1. Hi im Andries im trying to open account with jp markets but the system says that my email is already existing on your system…what must i do??

  2. Hello.
    My mate has deposited USD 40000 with a company called traderXlab, somehow connected to Trademote. The things he says to me about them make me think he’s been scammed. Have you ever heard of these entities. I keep telling him to ask for his money back now his account is in profit but he keeps saying its safe in there. They show his account with triple the money he started with 5 months ago but initially told him they didnt want him to take his money out for 6 months. Then they drip fed him 2500 and then another 2500. I pointed out he was still 35000 down. He knows nothing about trading

  3. Hi Valentin, I have seen your review on FSMSmart.com. I can confirm they are 100% scam brokers.
    I have been scammed but so far have been able to get SOME funds returned and still working on getting it all returned.
    Important for people to know that if you deposit with credit card you have 540 days to lodge a chargeback.
    MasterCard/Visa have merchant category for “high risk merchants” Acquiring Banks have to validate these merchants with legal documentation before dealing with them.
    Don’t let your bank (Issuing Bank) try to squirm their way out of this. Lodge a chargeback claim for GOODS/SERVICE NOT SUPPLIED OR SUSPICIOUS ACTIVITY.
    Visit Fin Telegram site for more info on FSMSmart.com now FSMSmarts.com

  4. Valentin

    Could you please do a review on CM Trading, so far I have been using that broker for a year and haven’t come across any issues I just would like to get an external review.

    Bless you Sir.

  5. Hi valentin
    I liked you site and your way to describe each broker.
    I went with XM seychelle saint vincent regulation fsa,
    I have a Q. I deposit with credit card prepaid from my bank. If i deposited 100$ and I have done profits and my balance is 500$. If I decided to withdraw 400$ to my credit card. Are they going to withdraw me the 400$ or only 100$ as I deposited via credit cards.
    If so, what is the solutions , because bank wire in my country is forbidden from private to company and vis versa,
    I hope that you got what I mean.
    Thanks in advance and great job.

    • they will only deposit $100 back to your credit card. you will have to withdraw your profit of $400 by another method like wire transfer, skrill, etc.

  6. Hi I opened an account in May this year, after the broker showed me what he wanted to do I decided this wasn’t for me. So over the past three months I’ve tried to withdraw my original deposit of $500 and yet to see any money. The account manager won’t return my emails, your customer support won’t return my emails so I am at a loss as to what I can do. Is this normal practice?

  7. I have about 1,495.98 which i think is enough for me to trade but the broker is insisting i should add more. I don’t get it are Bormancorps real?

  8. I’d like to know what are the top 5 best platforms to trade cryptocurrencies besides Binance,Coinbase and Bittrex. Thank you.

    • By using the withdrawal options provided by the Broker such as international wire transfer, credit card, Skrill, Neteller, PayPal.

  9. Hey valentin, hope you will be fi9 really impresed with your blog I have a situation i did trading with uniglobe markets they did withdrawal aswell as i was a newbie but i invested 1000 usd had good profit in one week time and withdrawn all my money because i had to check the broker now i m confused shud i invest with them again or not as they are non regulated and there is alot material on internet about them that they are scammers and my last question can v use mt4 platform without a broker…..

    • I usually dont recommend investing with unregulated brokers. but of course, it is up to you to make the final choice.

  10. Hi, what do you know about Alpha Financial Group UK / Germany are they above board? also can check a broker registration online anywhere? Thanks

  11. Hi, I am having a whole lot of trouble with TradeLTD. I sent them a deposit of US$100 about 3 weeks ago, and it doesn’t show up on my account page. I can’t trade, now I can’t log in with the password they gave me, and I want to withdraw it. I’m getting no answers to emails, online messages, and I am being ignored. I can’t call overseas from my mobile number either. Need your advice!

    • Hi, Tonia. I’ve written a review on this broker. If you read the review, you’d see withdrawal problems with this broker. I mentioned this problem in my review and added an case with this problem. Trade LTD is one of the unregulated brokers. So the next process is under their control. Keep trying to communicate.

  12. I have had experience with Jones Mutual. They are a complete SCAM! They use fake advertising of famous people and incorporate fake quotes pretending to endorse their products like ‘Bitcoin.’ They say you can withdraw your deposit or funds at any time, but they have SCAMMED loads of people and never returned their deposits or investments. AVOID, AVOID, AVOID, SCAM< COMPLETE SCAM! CRIMINALS.

  13. I read your comment posted on your review about Konto Fx. I can copy and paste it because it is the exact thing that has happened to me. they refused to give me my initial investment and are calling me to invest more money. Please do not invest your hard earned money with these scammers. They are scammer, scammers. Please listen to the advice of forexbrokerslab and stay away.

  14. Buenas tardes, le escribo para que en la medida de lo posible informe a todos sus usuarios sobre tradovest, ya he leido su articulo en el qu lo identifica como un broker no regulado, pero no solo es eso es un broker esfafa, en mi caso me esfafo 29000€ una pena no haber leido antes su articulo, soy nuevo en todo esto y me pillaron desprevenido y por mi avaricia me robaron todos mis ahorros, si quiere publicar algo yo le puedo dar toda la informacion que usted requiera , todo esto lo hago para que nadie caiga mas en su trampa.
    Quedo a su disposicion.
    Muchas gracias.
    Jose Antonio Martinez Gonzalez.

  15. I was contacted by one of the xfbreeze reps. He persuaded me to invest with the company which I reluctantly agreed to. But as he was putting my details into the system, he too £450 from my account instead of the £250 he had asked for. He admitted he had made a mistake and by that I decided to withdraw my consent. I told him to stop the transaction and return the £450 to my account. He wouldn’t. I have had several calls from their reps asking me to trade with them. I have declined every time and asked for the return of my money. They won’t do this. Now I am stuck with a £450 debt which they hold and which is causing me concern. Can you get my money back for me please?

      • I tried to locate xfbreeze to find out who their regulator may be but can’t find them. Unless I can find them and open the account xfbreeze opened with my money Visa and my bank can’t do anything. Any suggestions please?

          • When I was initially contacted by xfbreeze and they took my money, even though I asked them to cancel it, I had contact with Manuela Vitalis who said she is a freelance account manager and would be dealing with me in future. I explained that I wanted my £450 deposit returned as I did not authorise the payment as the initial ‘broker’ had made a mistake and put the £ sign instead of the $ in the amount (which was still more than the original $250 required). I have written to her today to ask her how I or she can access my account . IF (?) I get a reply I will inform you. Thanks for your help.

  16. Unregulated brokers want you to put money into a crypto account because the banks won’t allow you to put money in otherwise, is this the sign of a scam broker ?

  17. Stay away from cfds100 my bank said they are a scam. My account manager called M…… L…. has conned me out of a lot of money. His email address goes to tradinglive.io so they are obviously a scam as well.

  18. Some unregulated brokers put your money into a segregated bank account earning a very high interest rate like 60%, is that just a scam, it seems too good to be true !

  19. A comment on KONTO FX: I have managed to get my initial 10.000 euros back after a good deal of discussion. However, they keep calling me with “updates on the market” .

  20. Furthermore, I Can’t believe – as you mentioned – that the web side of Centrobanc.com should be realistic. I think it seems to be a GAME only.

    I would appreciate your answer in this concern.

    • If the broker is not regulated, there is not much that you can do to get your money back. at best you can sue the Company for reason of fraud.

  21. Hi, just I found your website and it is helpful. However, here is my problem with Centrobanc.com: I opend an account mid October and transferred amounts by credit card and bank wire with total amount of €10.000 – after several checking various internet pages, I learned that Centrobanc.com is not a regulated broker. I think Centrobanc is a big SCAM !!! After checking the money transfers to them via my german banks, the money landed in Estland and a company in Russia named New Video Games Establishment in Minsk. So I cancelled the account and want back my money end of October. However, nothing is happen on Centrobanc side and I think the money is lost. Also I had some telco’s with the broker and it seems he doesn’t have no interest for further discussions with me. My emails and calls remain unanswered. Next week I will start with the police regarding scam. Regrettably and most likely without success.

    I’m convinced: Centrobanc is a big SCAM – the headquarter is not in Liechtenstein, because according to the Financial Authorities CB is not registered there. I believe that these are criminal people.

  22. Buen día,estoy pensando en invertir en robots, tengo una cuenta con iqOption, pero he perdido todo por mi inexperiencia, quisiera saber cuales son los mejores robots para México, y las opiniones de “OptionRobor”, MyfxBook”, “Robot FXTM”, Binbot Robot”, “Centobot”, CriptoRobot365″, “BTC Robot”, BinaryOption Autotrading”, FX Master Bot”, ya que he estado investigando en Internet, pero las opiniones son muy disparejas y todo lo que generan es confusión.
    atentamente: un novato

    • Uso el robot de FX Genius Bot y creo que el me ayuda mucho. Uso el robot en IPT Markets y estoy muy satisfecho. En serio, gané mucho dinero!

      Un robot puede funcionar en broker A, pero tal vez el robot no podrá funcionar en otros brokers. Así es muy importante que en cual broker te probas el robot.

      Si me preguntas sobre mi idea, te aconsejo IPT Markets. https://www.iptmarkets.com

      Aquí, tengo 8 Robots que puedes usar. Ellos son: Aeron Forex Auto Trader, Euro Blaster v3.0, Forex Millionaire Robot, Forex Ultra Bot, Fx Genius Robot (mi robot favorito), Million Dollar Pips, Parabolic SAR ADX EA, Xtreme EURGBP.

      Puedes descargar estos robots de mi siteo con este link: https://www.forexbrokerslab.com/wp-content/uploads/2018/11/forex-robots.zip

  23. I started trading with Hybridreserve from September 2018 and within 2 months i lost my 550$ without gaining any profit , i lost all my investment today in addition i am not able to communicate with this company officials as they are not responding my mails , its a SCAM – suggested to all users not to deal with this company as they will give you grantee of 30% profit from your invested money and they will show you minor profit in account and again ask to increase your investment and one day they will take out all your money with a reason of you lost all investment on your last trading then they will stop communicate with you. they will call you from UK number and talk to you for more than 30 minutes to convince you that market is trending and you can make big money but all these discussion never happen in reality and one day you loose all your money.

  24. scope markets have an article circulating about an unemployd woman in south africa who deposited R2500 with them and they taught her to trade and in 3yrs time she had made R11million .i contacted them and they have indicated that i can dposit US100 or 200 with them so they start to train me to trade .i am a newbie. should i go for it

  25. Hi. I recently read an aritcle on Bitcoin.com and on the Mirror website of KontoFX and really liked what I saw so I clicked the link and in my haste put £250 into an account. I quickly regretted this decision and after reading various different reviews online I found out it may be a scam? I put in a withdrawal request a week ago and have not received my money and I am very worried I wont receive my money after the reviews I have read. Can you help me? Thanks

    • the broker is not regulated by any financial watchdog. so there is not a lot to do other than waiting for your withdrawal to be processed.

  26. Hi there, I join trading with Profit Trade on 26 June 2018. I deposited USD 5000. The term & condition wrote after 3 months i can withdraw my deposit & profit. When I requested for withdrawal. it was rejected. when i contacted the broker, they don’t reply my calls, email & whatsapp. Need help how to get my deposit & profit. thanks

        • if the broker is not regulated, you dont have a lot to do. it is up to their desire whether give you your money back or not. I keep saying stay away from unregulated forex brokers all over my blog. please read more about forex regulation and unregulated forex brokers

  27. Hi, I just want to warn people thinking of trading with 4XFX. These guys are crooks. I have
    lost over R42 000.00 to them. They “loose” your money and ask of you to deposit more money
    so they can recover the losses. BS, read reviews on them and you’ll see how much people
    they conned. 4XFX is a SCAM

  28. Hi
    found your website very useful, many thanks.
    The problem is the new ESNA regulation to limit leverage ro max 30 for retail traders. I have to change the platform. Please advise the best solution.
    I am German with residence in Dubai

    • Hello. Yes, starting next month brokers in Europe will have to lower max leverage to 1:30. However most of those brokers have seen this coming and opened off-shore branches where they can offer much higher leverage such as FxPro, XM, IPT Markets… You can try one of those.

  29. hi I have linked my account on Florex and they ask me for R3000 and I gave to them and I never get back they money now they ask me to give them on other R500 to get the money what do I do?

    • Hello. You can try any of the brokers in top 3. since you are new to forex trading, I strongly recommend to trade with minimum lot size for few months.