Receiving Guaranteed Forex Return Promises? BEWARE, It's a SCAM!

Fake or illegal forex trading has been grabbing much of the headlines in India. In light of these events, a lot of us receive calls from forex representatives about guaranteed return schemes. The schemes seem impressive with high and safe returns. People invest millions into such schemes and find themselves at the wrong end of the tunnel. Companies fly away, trapping millions of investors and their hard-earned money. In this article, we will share some events where people lost millions under the guise of forex trading being a safe investment avenue.

Firstly, Why Guaranteed Forex Return Claims are False

Forex trading is a volatile activity where the currency pair you invest in fluctuates throughout. The fluctuation happens based on the trading volume, macroeconomic condition, political events, and more so geopolitical crisis that defines the world today. These events work in favor or against the price movements. So, returns are never assured! Dont fall into the guise. That being said, forex investments work for you over the long term. You need to invest better and deal with fluctuations.

Here are Some Forex Scam Stories That Need Your Attention

India has witnessed a series of forex scams in 2025 itself, let alone the ones that happened earlier. Lets check them out.

The Infamous BotBro Case with Promises of Guaranteed 5-15% Monthly Returns

BotBro, an AI-based forex trading platform, dazzled the market with promises of guaranteed 5% to 15% monthly returns on forex investments. The company‘s founder even hired influencers and financial experts to aggressively push these offers, resulting in millions of investments. Investors were also lured with SUVs, luxurious trips, and more. But soon, the company disallowed withdrawals, resulting in complaints lodged against it. The ED seized assets worth INR 170 crore through its raid at the company’s offices in Noida, Delhi, Rohtak and Shamli.

Gulf First Commercial Brokers‘ Exit Shocks Many Investors

The UAE-based Gulf First Commercial Brokers vanished after trapping millions of investors’ money. It ran two offices in Capital Golden Tower, Dubai, where its employees called investors and made them invest in trading platforms under the guise of safe and guaranteed returns. They made investors start with a small deposit and made them invest more by falsely propagating that it would fetch them high and safe returns. Suddenly, one day, the company vacated the office space, leaving many investors stranded and disappointed. The police investigated and found that the company was not authorized by either the Securities and Commodities Authority (SCA) or the Dubai Financial Services Authority (DFSA), the local authorities.

21-Crore Crypto & Forex Trading Scam Racket Uncovered in Srinagar

A racket of cyber fraudsters operated an illegal crypto and forex trading scheme for one and a half years before Srinagar Police busted it. The scheme siphoned INR 21 crore from 5,000 investors, who were tricked into with the lure of guaranteed high returns. They received fake web links for account creation and transactions from the fraudsters. They made investors transfer money to different bank accounts. However, when investors sought withdrawal, they were denied as the fraudster gang controlled their fake trading accounts. Srinagar police acted swiftly upon complaints and nabbed the racket.

Conclusion

These were some forex scam cases where fraudsters duped investors with guaranteed returns. As a budding forex investor, you should research the broker, how it‘s doing, what its rating is, the operating experience, whether it’s regulated, etc. If you are looking for a platform where you can find everything about the forex broker, visit WikiFX, a leading forex broker information app.