Forex (Imposter) has been flagged by Financial Markets Authority for "Registered/Licensed entity impersonators|Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I want to warn everyone about Forex (Imposter). They have been flagged by Financial Markets Authority as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Pros: Professional looking website
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Forex (Imposter) has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I opened an account with Forex (Imposter) for about five months ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Clear documentation|Copy trading available
Cons: Spreads widen during volatile periods
If you are reading this considering Forex (Imposter) - run. I wish I had read more negative reviews from a blog post comparing services. I thought the positive ones were real. Maybe some are. My experience over since the beginning of the year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Two-factor authentication|Regular updates|Excellent charting|Multiple order types
Cons: Could offer more webinars
Do not be fooled by the professional-looking website. Behind the scenes, Forex (Imposter) is disorganized and incompetent. I found them after attending a webinar they hosted and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Easy withdrawals|High security standards|Real-time alerts|Customizable dashboard
Cons: Limited ETF selection|Mobile app could be improved
I wanted to transfer my portfolio from another broker to Forex (Imposter). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Intuitive for beginners|Dividend tracking
Cons: Live chat only during business hours|No phone support on weekends
I referred a friend to Forex (Imposter) after reading several online reviews. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Social trading features|Instant funding|Real-time alerts
Cons: No crypto staking|No fractional shares
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
KYC with Forex (Imposter) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Tax reports included|Economic calendar|Smooth onboarding
Cons: Research section could be deeper|Some tools only available on higher tiers