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To keep you safe from Scams, we bring you hundreds of reviews but also help you get started by recommending which ones to read first, based on your experience level and investment appetite. If you are already a victim of a Scam, the team will do anything they can to help to resolve your issues. That Sucks is here to review brokers, fight scams, educate, and support the traders’ community. We invite you to join us in this quest by sharing your information and experiences with others, right here. We will help you get started by providing information about the online trading industry and different Brokers, but most importantly – we’ll help you choose a Broker that DOESN’T Suck! Searching for a Broker? Find Your Broker › How Do Brokers Scam? The number of highly profitable trading markets is constantly increasing and this becomes more and more attractive to traders, but many of these online trading markets are widely unregulated and relatively fresh, which makes the industry highly appealing to crooks and charlatans, or in other words – Scammers . The fact that regulators take measures to prevent fraud does not make the industry scam free. Professional crooks are out there, trying to fool naïve traders en mass, with flashy sites and big, empty promises. The list of crooks is certainly not limited to brokers; marketing professionals dressed as service providers are trying to sell you mind-blowing returns. They pose no less danger than the old-fashioned bucket shops, and together they are creating havoc among untrained traders. Well-known scam tactics include adding bonuses to traders’ accounts and then refusing any withdrawal request until some enormous (and often unreachable) volume is traded. Another common trick is to trade on clients’ accounts without their permission and then ask for a new deposit when the balance reaches zero. Although the following happens less often, some dirty brokers simply stop all communication with the client after the initial deposit, while at the same time blocking all access to the trading account. Other, less harmful tactics include constant phone call pressure and requests to add more funds to help recover the losses” by trading more. More recently we’ve seen another trend”, which is making tons of victims among traders: the Recovery Services . They claim to hunt down scam brokers and help recover traders’ funds but unfortunately, this is just another form of scam, often put into practice by the same brokers that stole the money in the first place. Other times the recovery service” is completely unrelated to the broker but in 99% of the cases, the client gets double-scammed: once by the broker and once by the fake recovery service. Where is the Regulation? Whether you are trading Binary Options, CFD, or Cryptocurrencies, you need to pay attention to who you are dealing with. In other words: Is your broker regulated by a financial authority? Ideally, your broker should be regulated in their country of residence, as well as yours. There are plenty of regulated brokerages, so I don’t see why you would trade with a sketchy, unregulated one. The main regulators across the globe are Cyprus Securities and Exchange Commission ( CYSEC ), British Financial Conduct Authority ( FCA ), Australian Securities And Investments Commission ( ASIC ) and in the U.S. there’s the Commodity Futures Trading Commission ( CFTC ) and Financial Industry Regulatory Authority ( FINRA ). Other notable local regulators are the French AMF , Italian CONSOB , and Germany’s BAFIN . Check if your broker is registered with one of these watchdogs before giving your money to an unregulated company! With Cryptocurrencies, things are a bit different because most of the biggest exchanges are unregulated but this doesn’t necessarily mean they are bad or untrustworthy. However, the SEC and CFTC have already warned investors against fraudulent crypto assets and websites, so keep in mind that while no regulation doesn’t automatically mean the broker/exchange is a scam, the crypto space is pestered with crooks, just like any other market so make sure you learn how to minimize risk when trading cryptocurrencies . Should I Open an Account? Online Trading is sometimes a simplified trading method that could generate very high returns in a very short time but is risky and requires thinking, strategy and of course a reliable broker. Our team is here to help you better understand the differences between unreliable and untrusted brokers by pointing out the dark side of the different brokers so that everyone could choose the right broker for them. We’re proud to be one of the first and only objective websites focused on reviewing Brokers, Robots, and trading in general. We’re proud to be copied by hundreds of fake websites that use our good reputation to fish potential clients, just as much as we’re ashamed of their poor judgment. They’re hunting clients using big words like scam or fraud, yet they’ll point naïve traders at all the wrong places. With your help, we’ve managed to review hundreds of brokers, signal services, autotraders, robots, and other related products, and will keep doing so. But we will do more than just give you tons of reviews to read: we will point you in the right direction by assisting in your search for a broker and we will only show you results based on YOUR preferences. That being said, when and if you decide to open an account with a broker, you can be sure it’s the right choice for you. It only takes a few minutes to find a suitable broker, whether you are looking for binaries, Contracts For Difference (CFD), Crypto, or maybe a Trading Robot. Binary Options Brokers Binary options also known as digital options gained a lot of popularity due to their ease of use (and in part due to some over-the-top marketing). Basically, all you have to do is choose Up or Down and an expiration time. If the underlying asset is matching the direction you predicted, you make a profit. Otherwise, you lose. Nowadays this type of trading is banned in Europe but can be used in many other parts of the world; however, the number of brokers offering BO had dropped down significantly. If you’re looking for...