How to Verify Trading Platforms

How to Verify Trading Platforms

Introduction
Verifying a trading platform before investing is critical. Many platforms promise high returns but turn out to be scams. This guide will help you assess a platform’s legitimacy safely and reduce your risk of falling victim to fraud.

1. Check Licensing and Regulation

  • Confirm if the platform is registered with recognized authorities (FCA, ASIC, CySEC, SEC, FINRA).

  • Verify licenses directly on official regulatory websites.

Tip: Legitimate brokers always display verifiable licensing information.

2. Examine Ownership and Contact Info

  • Look for transparent company ownership and verifiable contact details.

  • Avoid platforms with vague, missing, or untraceable information.

 Suggestion:  Online Scam Safety Guide for general scam awareness.

3. Review Website Authenticity

  • Check for SSL certification (HTTPS).

  • Inspect domain age and history using tools like Wayback Machine.

  • Watch out for poor design, broken links, or missing “About Us” sections.

4. Check User Feedback

  • Search forums and review sites like Scams2avoid.com, Trustjabber.com, Reddit, and your own BOREOAKLTD Blog section for scam review articles.

  • Avoid platforms with multiple negative reviews or unresolved complaints.

5. Use the Risk Score System

ScoreRisk LevelNotes
0–2LowLikely legitimate; proceed with normal caution
3–5MediumSome suspicious signals; research further
6–8HighMultiple red flags; consider avoiding
9–10CriticalClear signs of scam; do not invest

This score helps you quickly assess the overall risk of a platform before committing funds.

6. Explore Further Guidance