Is AURUM MARKETS a Scam?

At FXCanary, our safety assessments are grounded in a meticulous scrutiny of regulatory credentials, the verifiability of licences, and the real-world experiences of traders. We do not rely on the glossy promises of a broker’s website; instead, we cross-check claimed regulation against public registers and aggregate thousands of user reviews to detect patterns of misconduct.

Our Scam Risk Score synthesises these factors into a single figure. For Aurum Markets, the score stands at 43 out of 100, placing the broker firmly in our ‘Guarded’ category. This rating signals that while the broker may not be an outright scam, the risk of encountering serious problems—particularly with withdrawals—is unacceptably high. In the sections that follow, we unpack exactly what drove this score and why caution is non-negotiable.

Aurum Markets Limited holds a Securities Trading Licence (EP) from the Financial Services Commission (FSC) of Mauritius, numbered 195270GBC. On paper, this grants the broker a veneer of legitimacy. However, our analysis reveals that this regulatory framework offers scant protection compared to top-tier authorities like the FCA, ASIC, or CySEC.

Mauritius is a popular destination for forex brokers precisely because its requirements are forgiving. The FSC does not mandate participation in a client compensation fund, meaning there is no safety net if the broker collapses. There is also no legal obligation to provide negative balance protection, and the enforcement of segregated client accounts—while required in theory—is inconsistently audited. We have seen multiple Mauritius-licensed brokers vanish with client funds, leaving traders with no recourse beyond an opaque local complaints process that rarely yields results.

In practice, a Mauritius licence is a regulatory flag of convenience, not a seal of safety. Any trader depositing funds with a Mauritius-regulated broker should do so with the full understanding that those funds are essentially unprotected by any meaningful investor compensation scheme.

One of the most damning threads running through user reviews is the repeated claim that Aurum Markets is a successor to Cabana Capitals, a broker widely labelled as a scam. In one typical review, a user warns: ‘Today’s Aurum Markets is nothing but yesterday’s Cabana Capitals – the same group of scammers operating under a new name.’ We cannot independently verify these allegations, but the volume and consistency of such reports demand attention.

Scam brokers frequently rebrand to escape a tainted reputation, often transferring client databases to a new entity. The founding date of Aurum Markets Limited—December 2024—raises further questions, given that multiple reviewers claim to have traded with ‘Aurum Markets’ since 2020. This discrepancy strongly suggests either a fabricated corporate history or the absorption of another broker’s client base. For traders, these are classic red flags: a broker that cannot clearly account for its own track record is not one you can trust with your capital.

Our review of user feedback uncovered 10 formal withdrawal-related complaints, and the qualitative accounts paint a harrowing picture. One user reports: ‘My withdrawal was suddenly blocked despite making a few deposits as well as withdrawing some money on two occasions before. The withdrawal function was even blocked without any reason.’ Another states: ‘My inability to withdraw my funds has been so worrisome and disheartening. Their support kept mute to all messages.’

While some traders have successfully withdrawn funds—and we note the positive testimonials to that effect—the pattern of blocked accounts and ignored support requests is too striking to ignore. This is the hallmark of a broker that operates a selective withdrawal policy, allowing payouts only when it suits their cash-flow needs. The moment a trader becomes profitable or requests a large sum, obstacles materialise. For a retail trader, the inability to access your own money is the ultimate failure of a broker.

A particularly insidious complaint centres on accounts being closed and profits seized under vague accusations. One detailed review explains: ‘My trading account was closed, and my profits were confiscated based on allegations of “market manipulation” and so-called “pump and dump” activity. These are totally false claims.’ This is a textbook exit scam tactic: when a client wins, the broker invents a rule violation to deny the payout.

Legitimate, regulated brokers do not unilaterally confiscate profits without a transparent, auditable process and an avenue for dispute resolution. The fact that Aurum Markets appears to resort to such pretexts—coupled with the FSC’s limited oversight—means traders have virtually no realistic way to challenge these decisions. It is a one-sided game where the house always wins.

Bonuses are often the bait that lures traders into a trap, and Aurum Markets seems to deploy this strategy aggressively. Several reviews complain about a $100 no-deposit bonus that was advertised as active but could not be withdrawn. One user writes: ‘I made almost 300 dollars profit from their no deposit bonus, but they are not transferring that profit to my wallet.’ Another notes: ‘Although their 100 bonus has expired, it's still being advertised on their website to bait new traders.’

These promotions typically come with onerous terms that make withdrawal impossible until a high trading volume is met—and even then, payout is often refused. The bonus acts as a psychological hook to encourage a real deposit, which then becomes the next prisoner of the withdrawal machinery. For any trader, a broker that uses expired or unredeemable bonuses as a marketing tool is signalling a focus on gathering deposits rather than fair dealing.

To present a balanced view, we must acknowledge that not all feedback is negative. Some users praise the broker’s platform stability, fast execution, and competitive spreads, particularly on the MetaTrader platforms. Islamic account availability and low minimum deposits are also noted as positives. A few long-term reviewers claim to have had consistent support and regular commission payments.

These operational niceties, however, are par for the course. Even the most fraudulent brokers often invest in a slick trading interface and polite customer service to create an illusion of trustworthiness. The core question is not whether the platform works when times are good, but what happens when you try to leave with your profits. On that crucial test, Aurum Markets fails catastrophically for a large proportion of its clients.

If, despite the overwhelming warnings, you choose to trade with Aurum Markets, we urge you to treat it as an extreme-risk environment. Start with the absolute minimum deposit allowed—$10 on the Cent or Standard account—and never add more than you can afford to lose entirely. Avoid bonus offers completely; they are structured to lock in your capital.

Withdraw profits early and frequently. As soon as your balance exceeds your initial deposit, request a payout, even if it means missing out on potential compound gains. Keep meticulous records of every trade, chat, and email. If a withdrawal is blocked, contact support immediately and document the response. Should you face an account closure or profit confiscation, file a complaint with the FSC Mauritius, but be prepared for a slow and likely fruitless process.

Ultimately, the safest course is to choose a broker regulated by a top-tier authority with mandatory investor compensation. The 43/100 Guarded score is not a recommendation to proceed with caution; it is a flashing red light that screams: your capital is at serious risk. We can only advise traders to listen to the chorus of victims and look elsewhere.