TradeTP

By: Antonio Smith / February 4, 2025

How to Avoid a Scam Broker
This article contains a list of all the latest scam brokers that offer the cTrader trading platform. It was created to protect you from losing your money. There will always be fake brokers that attempt to be a legitimate company.
There is a big difference between a broker which is a 100% scam and a broker who has a few negative reviews. Most new brokers will initially have some bad reviews until they can build up their client base and some long term brokers will have some bad reviews, this does not mean they are bad. Remember people only usually leave a review when they are unhappy, so if a broker has no or a few negative reviews, this can also be a bad sign.
A scam broker will have few or no online reviews and more importantly, no regulations, you can do your own research to find out if a broker is regulated.
Identify the Broker’s Regulatory Claims
Look for the broker’s licensing or regulatory information on their website. It is usually displayed in the footer or an “About Us” or “Regulation” section. Note the name of the regulatory authority and any license numbers provided.
Verify with the Regulatory Authority

Visit the official website of the mentioned regulator.
Use the search or licensing verification tool (most regulators provide one) to look up the broker using their name or license number.
Check if the broker’s name matches the records in the regulator’s database.

FCA (Financial Conduct Authority) – UK
ASIC (Australian Securities and Investments Commission) – Australia
CySEC (Cyprus Securities and Exchange Commission) – Cyprus
CFTC (Commodity Futures Trading Commission) and NFA (National Futures Association) – USA
FSCA (Financial Sector Conduct Authority) – South Africa
MAS (Monetary Authority of Singapore) – Singapore

Be cautious if the broker claims to be regulated by a lesser-known or offshore entity. Some jurisdictions provide minimal oversight.
Cross-Check Broker Details
Confirm that the broker’s name, address, and website match the details listed with the regulator. Some scam brokers falsely claim regulation or misrepresent themselves as a branch of a regulated entity.
Look for Warning Lists
Check the regulator’s warning list for unregulated or blocked brokers. Verify with international organizations like the IOSCO Investor Alerts Portal for brokers flagged globally.
Review Independent Sources
Research the broker through trusted review websites or forums like:

Beware of Red Flags
Brokers that cannot provide clear regulatory information, a lack of transparency about their licensing, and the use of suspicious domains or email addresses.
Broker Alerts Database
IOSCO gets alerts and warnings from its members about firms that aren’t authorized to provide investment services in certain areas. Sometimes, these warnings are about firms pretending to be connected to legitimate companies or using names that sound like authorized ones to trick people.

Scam Broker List
Below is a list of brokers that have been flagged as a scam, but may not yet show up in the IOSCO broker alert list.
TradeTP
The broker TradeTP has been reported online multiple times in the last few months, they have no customer reviews and no regulation to offer brokerage services. They have contacted many customers lately via telephone, if they call you and you are concerned, post on our support group first.

There seems to be no regulation for TradeTP which means your funds are not protected and this company is operating illegally.

Scam Broker List