Is AndroMarkets a Scam?

When we at FXCanary set out to judge whether a broker is safe or a scam, we do not rely on marketing claims or a handful of glowing reviews. Our methodology is built on three pillars: regulatory verification, financial transparency, and the real-world experience of traders as reported in reviews and complaints. We cross-check licences against official public registers, examine the legal structure and corporate registration of the broker, and analyse user feedback for patterns that indicate systemic problems, such as withdrawal delays, unresponsive support, or pressure tactics.

For AndroMarkets, our investigation has produced a Scam Risk Score of 75 out of 100, which we classify as 'Severe'. This score is not a random number; it is derived from a combination of factors, the most critical being the complete absence of any verified regulatory licence. When a broker operates without oversight from a reputable financial authority, the risk to your funds is inherently high, because there is no independent body to enforce rules or provide compensation if things go wrong.

In this deep-dive review, we will walk you through exactly how we reached this score, what it means for you as a trader, and what concrete steps you can take to protect yourself if you are considering or already using AndroMarkets. Our goal is to give you the evidence and context you need to make an informed decision, not to scare you with generic warnings.

The single most important finding in our review of AndroMarkets is that we found no verified licence on file from any financial regulator. The broker is registered as Andro Markets Ltd, with a registered address at Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. Saint Lucia is a Caribbean jurisdiction that is not known for robust financial oversight of forex brokers, and the fact that the company has zero employees on record further raises questions about its operational substance.

We cross-checked the company's registration details against the public corporate registry in Saint Lucia and found no evidence of a financial services licence. This means that AndroMarkets is operating as an unregulated broker, which is a major red flag in our assessment. In contrast, a regulated broker in, say, the UK or Australia is subject to strict capital requirements, client money segregation rules, and regular audits. None of these protections apply to AndroMarkets.

For a trader, the lack of regulation means that if the broker goes bankrupt, disappears, or simply refuses to return your money, you have no recourse through a financial ombudsman or compensation scheme. Your funds are not protected by any government-backed insurance, and you are essentially relying on the goodwill of the company. In our experience, that is a very risky position to be in.

Even for brokers that are regulated, the level of client fund protection varies significantly by jurisdiction. In the European Union, for example, brokers must segregate client funds from their own operational accounts, and clients are covered by compensation schemes up to a certain amount. In the UK, the Financial Services Compensation Scheme (FSCS) covers up to £85,000 per person. In Australia, the Australian Financial Complaints Authority provides a dispute resolution mechanism, and there is a compensation scheme for certain types of losses.

AndroMarkets, being unregulated, offers none of these protections. There is no requirement for segregation of client funds, no negative balance protection, and no compensation scheme. If the broker uses client funds for its own trading or operational expenses, you have no way to know, and no legal protection if it all goes wrong. Negative balance protection is particularly important for retail traders, as it ensures you cannot lose more than your deposit, but without regulation, there is no guarantee that AndroMarkets would honour this in a volatile market.

We also note that the broker's registered address in Saint Lucia is a common offshore jurisdiction for brokers that want to avoid strict regulation. While being offshore does not automatically make a broker a scam, it does significantly increase the risk, because the legal and regulatory framework is weak, and enforcement is often difficult. In our assessment, the combination of no licence, offshore registration, and zero employees is a very concerning picture.

Another aspect of our safety assessment is checking whether the broker has any clone or impersonator sites. In the forex industry, it is common for scammers to create fake websites that mimic a legitimate broker, or to use the name of a regulated broker to lure in unsuspecting traders. We ran a check on AndroMarkets and found zero clone or impersonator sites. This is a positive sign, as it means that the broker is not actively being impersonated by third parties, which is a common tactic in the industry.

However, we caution that this does not mean AndroMarkets itself is legitimate. The absence of clones simply means that no one has yet tried to copy their brand, possibly because the broker is so new (founded in May 2025) or because it is not well-known enough to attract impersonators. In our experience, clone sites are more often created for well-established, regulated brokers, so the lack of clones is not a strong indicator of safety.

We also note that the broker's website and marketing materials should be scrutinised carefully. We recommend that traders always double-check the website URL and contact details, and be wary of any unsolicited offers or pressure to deposit money. In the case of AndroMarkets, we found no evidence of impersonation, but the lack of regulation remains a critical concern.

One of the most telling indicators of a broker's reliability is how it handles withdrawals. We analysed user reviews for AndroMarkets and found one withdrawal-related complaint, which is a red flag, albeit a small sample size. The complaint was not detailed in our data, but any complaint about withdrawals should be taken seriously, as it suggests that at least one trader had difficulty getting their money out.

On the other hand, we found one positive review that specifically mentioned a successful withdrawal. The reviewer wrote: 'I deposited through the PAMM service and their AI bots handled all the trading for me. Andro AI delivered 198.5% profit in the last 3 months, while Alpha AI reached 259.6%. I withdrew my share of this week’s profit successfully.' This is a positive sign, but we must treat it with caution, as it is a single review and could be fabricated or incentivised.

In our assessment, the withdrawal evidence is mixed, but the existence of even one complaint is concerning, especially given the broker's unregulated status. We always advise traders to test a broker with a small withdrawal early on, to see if the process works, before committing larger sums. In the case of AndroMarkets, we would recommend extreme caution, as the lack of regulation means there is no external authority to turn to if a withdrawal is blocked or delayed.

In our review, we identified several red flags that contribute to the high Scam Risk Score. The most significant is the complete lack of regulatory oversight. This is a fundamental issue that cannot be overlooked, as it exposes traders to a high risk of losing their funds. Additionally, the broker is registered in Saint Lucia, an offshore jurisdiction with weak financial regulation, and has zero employees on record, which raises questions about its operational capacity and legitimacy.

Another red flag is the nature of the positive reviews we found. Many of them focus on the 'PAMM' service and the promise of extremely high returns, such as '198.5% profit in the last 3 months' and '259.6%' from 'AI bots'. Such returns are unrealistic and are often a hallmark of Ponzi schemes or high-pressure sales tactics. We are particularly wary of brokers that promote automated trading systems or 'AI' that supposedly generate consistent high profits, as these are often used to lure in inexperienced traders.

On the green flag side, we found no clone or impersonator sites, and the broker does have some positive reviews mentioning fast execution and a working withdrawal. However, these positives are far outweighed by the negatives, and we would not consider them sufficient to offset the risks. In our assessment, the red flags are severe, and we would advise traders to avoid AndroMarkets unless they are fully aware of the risks and are prepared to lose their entire deposit.

If you are still considering trading with AndroMarkets, we strongly urge you to take the following precautions. First, never deposit more than you can afford to lose. Given the unregulated status and the high risk score, you should treat any funds you send to this broker as potentially lost. Second, start with the minimum deposit of $30 and attempt a withdrawal immediately after making a small profit, to test the process. If the withdrawal is delayed or refused, that is a clear warning sign.

Third, do not rely on the broker's own marketing materials or the positive reviews you see online. Many of these reviews may be fake or incentivised. Instead, search for independent reviews and check industry databases for any complaints or warnings. We also recommend that you keep detailed records of all your transactions, including deposit and withdrawal requests, and any communication with customer support, as this evidence could be useful if you need to take legal action.

Finally, consider using a regulated broker instead. There are many reputable brokers that are licensed by authorities such as the FCA, ASIC, or CySEC, and that offer similar trading conditions, but with the added protection of regulatory oversight. While no broker is completely risk-free, trading with a regulated broker significantly reduces the risk of fraud and ensures that you have recourse if something goes wrong. In our view, the potential benefits of trading with AndroMarkets do not justify the high level of risk involved.

In conclusion, our investigation into AndroMarkets has uncovered a broker that operates without any regulatory licence, is registered in a weak offshore jurisdiction, and has a concerning lack of operational transparency. The Scam Risk Score of 75/100 reflects these serious issues, and we classify the broker as 'Severe' risk. While we found no clone sites and some positive user reviews, these do not outweigh the fundamental lack of protection for traders.

We cannot recommend AndroMarkets as a safe or reliable broker. The combination of no regulation, unrealistic profit promises, and a withdrawal complaint makes it a high-risk choice for any trader. If you are considering using this broker, we urge you to proceed with extreme caution and to consider alternative, regulated brokers that offer a safer trading environment.

At FXCanary, our mission is to help traders make informed decisions by providing thorough, evidence-based reviews. In the case of AndroMarkets, the evidence points to a broker that is not safe to trade with, and we advise you to stay away. Your funds and your peace of mind are too valuable to risk on an unregulated entity.