In short
- Fake apps show invented prices and profits; nothing reaches a real market.
- They're usually pushed by a "mentor", romance contact or social-media ad.
- Only install apps linked from the broker's official website.
How the scam works
- Contact via social media, messaging apps or dating sites.
- You're sent a link to download a "trading app" or open a web platform.
- Small deposits show quick profits; you're encouraged to add more.
- Withdrawals are blocked, or require "fees" first.
Red flags
- The app was sent as a direct link, QR code or file rather than found through the broker's site
- Developer name doesn't match any FCA-authorised firm
- Deposits requested in cryptocurrency or to a personal bank account
- Profits that look too smooth and consistent
- Customer support only via the person who introduced you
How to verify an app
- Look up the broker on the FCA register and visit the website listed there.
- Download the app only from the link on that website.
- Check the developer name in the app store matches the broker's legal entity.
- Log in with credentials created on the official site, not ones given to you by a contact.
Already deposited?Contact your bank immediately and report it to Action Fraud (Police Scotland in Scotland). Don't pay any "release fees". See our full scam guide.
Frequently asked questions
Can fake trading apps be on official app stores?
Occasionally they slip through, and many are distributed through download links, web apps or configuration profiles that bypass app stores entirely.
How do I know an app belongs to my broker?
Find the app via the broker's official website (reached from the FCA register), check the developer name matches the broker's legal entity, and confirm the app is listed on the broker's site.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading these products. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money.