Is 70Trades a Scam?

70Trades presents itself as a brokerage offering forex, stocks, commodities, and indices with leverage up to 1:200. Beneath that surface, however, our investigation uncovered a deeply troubling reality. With a Trustpilot rating of 1.2 out of 5 across 75 reviews and a Forex Peace Army score of just 1.093, the user sentiment is overwhelmingly negative. FXCanary’s Scam Risk Score for this broker stands at 49 out of 100 — a ‘Guarded’ rating that signals extreme caution.

That score is not handed out lightly. It is built from a structured methodology that weighs regulatory standing, user complaints, transparency, and operational red flags. For 70Trades, the evidence paints a picture of a broker that may be running a dangerous game. In this deep-dive safety article, we unpack exactly what we found, and what it means for any trader considering an account.

Our safety assessments are grounded in four pillars: regulatory robustness, user feedback, corporate transparency, and withdrawal reliability. We cross‑check licences against official public registers, analyse thousands of real‑user reviews from independent platforms, and scrutinise what the broker discloses — and what it hides.

The Scam Risk Score is a weighted composite. A credible licence from a top‑tier regulator lowers risk; an offshore licence from a weak jurisdiction raises it. A pattern of withdrawal complaints is heavily penalised, as is any evidence of clone activity or impersonation. When critical operational details — such as spreads, commissions, or deposit methods — are simply not disclosed, the score suffers further. 70Trades’ 49/100 reflects failures across almost every axis.

We also look for green flags: a long track record, segregated client accounts, investor compensation coverage, and positive user feedback. In the case of 70Trades, we found virtually none. The broker’s guarded score signals that the risk of financial harm is high and that traders should proceed, if at all, with extraordinary vigilance.

70Trades operates under the legal name Securcap Securities Limited, registered at Office 4, Suite C2, Orion Mall, Palm Street, Victoria, Mahe, Seychelles. The company holds a Seychelles Financial Services Authority (FSA) Derivatives Trading Licence, number SD012. While this is a genuine licence, the jurisdiction is a well‑known offshore hub with minimal regulatory oversight.

The Seychelles FSA does not maintain an investor compensation fund, so client money has no safety net if the broker fails. Negative balance protection is not mandated, and although client‑fund segregation is nominally required, enforcement is often lax. In contrast to brokers regulated by the FCA, CySEC, or ASIC, a Seychelles licence offers traders little more than a paper shield.

Our review also uncovered that the listed entity shows zero employees. For a broker that claims to serve retail clients globally, this is a glaring anomaly. It raises serious questions about whether any real back‑office, compliance, or support function exists at all. The registered address is a shared office suite — another hallmark of a shell company structure.

Industry databases flag 70Trades with a ‘Suspicious Clone’ status. Although FXCanary did not identify specific impersonation websites, this designation suggests the broker may be misrepresenting its identity or affiliation. Cloned firms often hijack the credentials of a legitimate entity to lure victims. Traders should verify every regulatory claim directly on the FSA’s public register and never rely on links provided by the broker.

Transparency around fees and funding is critically absent. The broker does not disclose its deposit or withdrawal methods — a massive red flag. Legitimate brokers are upfront about how clients can fund accounts and how they can get their money out. Equally missing are the minimum spreads and commissions for each account tier. Without this information, traders are essentially signing a blank cheque.

The three account types — Entry Level, Advanced, and PRO — carry minimum deposits from $200 to $10,000 and all offer 1:200 leverage. Yet the cost of trading remains a black box. Combined with the lack of employee footprint and the offshore shell address, the overall picture is of a broker that goes out of its way to remain opaque.

User reviews are the ultimate stress test for any broker, and 70Trades fails it catastrophically. Across Trustpilot and Forex Peace Army, we analysed over 75 reviews and found a crushing 1.2‑star average. Every single one was negative. Among the 38 reviews that mention scams, the word ‘fraud’ appears over and over: “Its a fraud company. dont invest”, “They stole all my monie”, “BIGGEST FRUAD in market”.

Withdrawal‑specific complaints numbered 11, but that figure understates the problem — many other reviews describe denied payouts as part of a broader scam narrative. One user wrote: “Just imagine! They have a few reviews and they are all negative! … they lure you to deposit, deny your payout”. Another described a pattern of guided account management that led to total loss: “I have my Accounts Manager … I loose huge Dollars because of her, She always escape while I notify my withdrawal”.

The consistent theme is that 70Trades will take a deposit but fight tooth and nail to prevent any withdrawal. Users report being pressured into larger deposits, given losing signals by so‑called account managers, and then stonewalled when they try to recover their funds. Several reviews also mention the broker falsely claiming a UK base — a deceptive tactic to appear more trustworthy.

The red flags are numerous and severe. First, the near‑universal negative feedback: not a single positive review exists across any topic. Scam concerns, deposit issues, platform reliability, customer support, and withdrawal experiences all score zero positive mentions. This is statistically damning.

Second, the broker employs classic high‑pressure boiler‑room tactics. Multiple reviews describe unsolicited phone calls, aggressive up‑selling, and account managers who demand control over trading decisions. One user was told to follow instructions exactly, and when they did, they lost everything. Such behaviour is consistent with a bucket‑shop operation, not a legitimate brokerage.

Third, the regulatory shell is flimsy. A Seychelles FSA licence with zero employees and no compensation scheme provides almost no real protection. The suspicious clone flag and complete lack of fee disclosure compound the risk. Finally, the withdrawal record: when a broker consistently blocks payouts, it ceases to be a trading venue and becomes a one‑way money trap.

In the interests of balance, we searched for any positive sign that might offset the avalanche of negatives. The only candidate is the existence of the FSA licence itself — but as discussed, its protective value is negligible. The broker does offer multiple account levels with a relatively moderate maximum leverage of 1:200, which is not in itself predatory.

However, these are baseline operational features, not markers of trustworthiness. In the absence of transparent fees, reliable withdrawals, and honest marketing, such meagre positives are irrelevant. No compensation scheme, no segregated account audit, no independent custody — there is simply nothing to mitigate the overwhelming risk.

FXCanary’s Scam Risk Score of 49 already reflects this near‑total absence of mitigating factors. Traders should not confuse the ‘Guarded’ label with a clean bill of health. It means that, in our assessment, the probability of a negative outcome — whether loss of capital, inability to withdraw, or outright scam — is unacceptably high.

If you are already a client of 70Trades and are struggling to withdraw, cease all new deposits immediately. Attempt a withdrawal of all remaining funds through any official channel, and document every interaction. If the broker demands additional fees or uses delaying tactics, treat it as confirmation that your money is at serious risk.

For those considering opening an account, our recommendation is clear: do not deposit. The weight of evidence is too great. However, if you choose to proceed, take the following precautions.

First, verify the licence on the Seychelles FSA website independently — do not use any link the broker sends you. Confirm that the entity you are dealing with is exactly the one authorised. Second, never give an account manager discretionary control over your trades, and never accept a bonus that ties up your funds.

Report any fraudulent behaviour to your local financial regulator and to cyber‑crime authorities. If the broker claimed to be UK‑regulated, report it to the FCA as an unauthorised firm. The more complaints that are lodged, the harder it becomes for these operations to continue. Above all, trust the overwhelming user testimony: real traders have lost real money, and they are not being made whole.

Based on our rigorous, evidence‑led investigation, 70Trades cannot be considered safe. It operates behind a minimalist offshore shell, hides its true costs, and has generated nothing but user anguish. The pattern of withdrawal denials and the ‘Suspicious Clone’ flag are hallmarks of a high‑risk, possibly fraudulent outfit.

The 49/100 Scam Risk Score places it firmly in the ‘Guarded’ category — meaning that while we stop short of labelling it a verified scam, the danger is acute. A prudent trader will give this broker a wide berth. In a market full of well‑regulated, transparent alternatives, there is simply no reason to gamble with a broker that appears built to take, not to give.