Forex Scams: How to Recognize Them and What to Do
Last updated: 2026-06-19 · FXŞikayetvar Editorial Team
Forex fraud occurs when platforms not authorized by the SPK collect investors with promises of guaranteed returns, show profit screens, and then block withdrawal requests. The most important protection is to verify the broker’s SPK license before you trade.
Risk warning. Leveraged forex trading carries high risk and, in Türkiye, is subject to SPK regulation (1:10 leverage cap, ~50,000 TRY margin). This content is not investment advice; user statements belong to their authors.
Warning signs
- No SPK license, or it cannot be verified.
- “Guaranteed profit”, “we cover the risk”, “sure gains” promises.
- Very high leverage (1:500, 1:1000) — the SPK cap is 1:10.
- “Investment expert” outreach via WhatsApp/Telegram/Instagram.
- Depositing is easy; withdrawals are constantly delayed or an extra “tax/commission” is demanded.
- No company address, imprint, or genuine contact information.
If you’re a victim, what to do step by step
- Stop depositing. Any request for “one last payment to release your money” is part of the scam.
- Collect evidence. Keep all correspondence, receipts, screenshots, the platform name and domain.
- Contact your bank/card provider. If you paid by card, don’t miss the chargeback window.
- Report to the SPK. Notify the Capital Markets Board about the unauthorized platform.
- File a criminal complaint with the Public Prosecutor. Attach all evidence to your petition.
- Share your experience. Add a verified complaint to warn other investors.
If you were harmed by an unauthorized platform, share your experience and warn others.
Frequently Asked Questions
Guaranteed/high return promises, very high leverage (1:500+), lack of an SPK license, constant withdrawal obstacles, “investment advisor” outreach via WhatsApp/Telegram, and fake profit screens are the most common warning signs.
Do not deposit more, keep all correspondence and receipts, file a chargeback with your bank/card provider, report to the SPK, and file a criminal complaint with the Public Prosecutor.
There is no guarantee; but acting quickly (chargeback window, prosecutor filing, bank details) improves the chances. Collection from unauthorized/foreign platforms is difficult.
The SPK can identify unauthorized forex platforms and have them blocked via the BTK. However, since they reopen under new domains, it is critical for investors to verify beforehand.