FCA
Online trading scams
The FCA describes how returns stop, accounts are suspended and contact ends in online trading scams.
An exit scam is the point where a fraudulent platform stops paying and disappears. This page collects how the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) describe that stage and what they advise. It does not assess any broker or name any firm.
How the FCA Describes the End of a Scam
On its online trading scams page, first published on 20 May 2019 and last updated on 19 January 2026, the FCA states: "Eventually the returns stop, the customer’s account is suspended and there’s no further contact with the firm." The sequence it describes is returns, then suspension, then silence.
Early Withdrawals and Lock-Outs
In media release 24-036MR of 1 March 2024, ASIC says: "Sometimes scammers will allow victims to make a small withdrawal early in the scam to build trust." The same release records: "Some victims have reported being locked out of their account." A single successful withdrawal is therefore not, on ASIC's description, proof that a platform is genuine.
Being Targeted Again
The FCA warns: "If you’ve already invested in a scam, fraudsters may try and target you again or sell your details to other criminals." For one common follow-up, see binary options recovery scam warnings.
What the Regulators Advise
ASIC advises: "If you have any doubts, stop communicating with them." It adds: "If you have shared financial information or transferred money, contact your bank immediately." Reporting steps are in how to report a binary options scam, and general red flags are in binary options scam warning signs. To check a firm before paying, use how to check whether a broker is regulated.
Frequently Asked Questions
How does the FCA describe the end of an online trading scam?
The FCA states: "Eventually the returns stop, the customer’s account is suspended and there’s no further contact with the firm."
Does one successful withdrawal show a platform is genuine?
ASIC says scammers sometimes allow a small early withdrawal to build trust, so one withdrawal is not proof on its own.
What does ASIC advise if you have shared financial information?
The release states: "If you have shared financial information or transferred money, contact your bank immediately."
Does this page address whether an individual could face liability?
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
Sources and Official References
- FCA: Online trading scams (first published 20 May 2019; last updated 19 January 2026)
- ASIC: It's a scam! Celebrities are not getting rich from online investment trading platforms (media release 24-036MR, 1 March 2024)
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.