## 1. License doesn't exist
Broker page shows "FCA regulated FRN 123456"?
→ Copy the FRN, search https://register.fca.org.uk/.
Not found = fake. Status "Clone" = fake (impersonating a real regulated broker).
## 2. Headline leverage 500:1+
Tier 1 regulated retail brokers cap majors at 30:1.
Front-page 1:500 or 1:1000 → not Tier 1 regulated, almost certainly offshore or unregulated.
## 3. Open account without KYC
All legit brokers require KYC: ID + proof of address + sometimes source of funds.
Click-click-trading = almost certainly a scam.
## 4. Sports stars + celebrity endorsements
Not a smoking gun, but 95% of offshore brokers use this. If a broker advertises "endorsed by Ronaldo" / "F1 sponsor" more than licenses and risk controls, raise eyebrows.
## 5. Withdrawal excuses
The most common and most fatal sign:
• "Trade more lots before you can withdraw" (violates all real regulations)
• "Pay tax first" (brokers don't collect tax — you report it to your tax authority)
• "Upgrade to VIP to withdraw"
• Support suddenly unreachable
See any of these: **cancel all open orders, request full withdrawal, follow up daily. File complaint with regulator.**
