Is CANNON TRADING a Scam?

At FXCanary, our editorial team measures broker safety through a multi-layered investigation. We scrutinise regulatory licences, cross-check corporate records, analyse user-review patterns, and scan for impersonation threats. Each broker receives a Scam Risk Score from 0 (no risk) to 100 (maximum risk). The score is built from objective data: whether the broker holds a genuine licence from a respected regulator, the volume and nature of withdrawal-related complaints, and the presence of clone sites.

For Cannon Trading, our assessment yielded a Scam Risk Score of 37 out of 100, placing it in the Guarded category. This means the broker exhibits traits that cautious traders should weigh carefully. Below we break down exactly what fed into that score and what it means for anyone considering an account.

Our core safety check always begins with regulation. FXCanary searched public registers of major financial authorities—including the NFA/CFTC in the United States, the FCA in the UK, ASIC in Australia, and others—and found no active licence for Cannon Trading Company, Inc. The broker's country of incorporation is the United States, yet it does not appear in the NFA BASIC system as a registered futures commission merchant or introducing broker.

This is a critical red flag. A properly regulated broker must segregate client money, submit to external audits, and participate in compensation or insurance schemes. Without regulatory oversight, none of these protections apply. If a dispute arises, traders have no ombudsman to appeal to and no statutory safety net.

In our experience, legitimate US-based futures brokers are meticulously registered with the NFA and CFTC. The absence of any licence suggests Cannon Trading either operates in a jurisdictional grey area or simply does not meet the regulatory bar. We always advise traders to independently verify a broker's licence before depositing, and our check here confirms an unregulated entity.

When a broker is licenced by a top-tier regulator, client funds must be held in segregated accounts—separate from the broker’s own operating capital. This means that even if the broker goes bankrupt, client money cannot be touched by the broker’s creditors. Additionally, many regulators require participation in a compensation fund that can reimburse clients up to a certain limit if the broker fails. Negative-balance protection, which prevents a trader from losing more than the account balance, is another statutory benefit in some jurisdictions.

Since Cannon Trading lacks any verified regulation, none of these safeguards are mandatory. While the broker may voluntarily segregate funds, there is no external auditor confirming it. Traders are entirely reliant on the company's corporate integrity. In the event of insolvency, the likelihood of recovering funds is uncertain at best.

We also note that the broker’s recorded employee count is zero. While this may reflect a lean referral or white-label model, it does not inspire confidence in the operational infrastructure needed to manage segregated accounts and trade execution securely.

User complaints about blocked withdrawals are among the most reliable danger signals we track. For Cannon Trading, our review sweep uncovered zero withdrawal-related complaints across multiple platforms. That is a stark contrast to many unregulated brokers, where payout problems dominate the feedback.

The nine reviews we identified in the Profit / Payouts topic are uniformly positive, with traders describing reliable data feeds and helpful support during the learning process. However, we caution that the sample is relatively small, and many of the reviews focus on customer service rather than withdrawal speed or ease. No reviewer specifically detailed a large withdrawal transaction being processed promptly.

In the absence of any negative reports, we cannot flag an immediate payout risk. But the lack of concrete, verifiable withdrawal evidence—combined with the unregulated status—means traders should proceed with limited trust. We recommend testing withdrawals early and often, starting with small amounts to verify that the process works as promised.

Every broker we review presents a mix of strengths and weaknesses. The most glaring red flag for Cannon Trading is its unregulated status. Operating in the US without NFA/CFTC registration is a serious omission that undermines the foundation of client safety. Additionally, the listed employee count of zero raises questions about the firm's operational structure—who is executing trades, handling compliance, and managing client assets?

On the positive side, our check found no evidence of clone or impersonator sites targeting Cannon Trading. Clone scams are a common tactic where fraudsters mimic a legitimate brand to steal deposits, so the clean record here is reassuring. Furthermore, the 562 Trustpilot reviews show an overwhelmingly positive 4.9-star rating, with strong praise for support agent responsiveness and platform setup assistance. No review mentioned hidden fees, account freezes, or outright scam behaviour.

That said, a high Trustpilot score alone cannot replace regulatory oversight. We have seen many unregulated brokers cultivate glowing reviews through incentivised feedback or selective moderation. Traders must weigh the positive sentiment against the concrete absence of a licence.

FXCanary maintains a watch list of known clone and impersonator websites. When we discover that a fraudulent domain is mimicking a broker’s brand, we flag it immediately. For Cannon Trading, our monitoring found zero clone sites at the time of this review.

This is good news: it means traders are unlikely to be conned by a fake version of this broker. However, because Cannon Trading itself is unregulated, the risk of the brand being used for fraudulent purposes cannot be dismissed. Traders should always access the broker’s services only through the official website and double-check any communication that requests personal or financial details.

If you decide to proceed with Cannon Trading despite its unregulated status, we urge you to take several precautions. First, verify the company’s identity and physical address independently. The registered address is 12100 Wilshire Blvd Suite 1640, Los Angeles, CA 90025—consider confirming via county business records or a virtual office check, as some unregulated firms use mail-forwarding addresses.

Second, never deposit more than you can afford to lose. Without regulatory protection, all funds are at risk. Start with the minimum deposit and test the withdrawal process for speed and reliability. Trader accounts at unregulated brokers should be treated like high-risk investments.

Third, maintain a thorough paper trail of all account statements, trade confirmations, and correspondence. In the event of a dispute, these records may be your only recourse. Finally, keep an eye on the broker’s public reputation; sudden spikes in complaints can be an early warning of financial trouble.

Cannon Trading’s Scam Risk Score of 37/100 reflects a brokerage with mixed signals. The complete absence of regulatory licensing is the most significant risk factor, offset only partially by a strong stream of positive customer reviews and a lack of reported withdrawal issues. No clone sites were found, which reduces impersonation risk.

We cannot label Cannon Trading a scam, because the user evidence does not support that conclusion. However, the lack of regulatory oversight means it fails to meet the baseline safety standard we consider essential for retail traders. Any funds held with the broker operate outside the protections of statutory compensation schemes.

Ultimately, the decision to trade with Cannon Trading is a personal risk calculation. Our role is to present the facts as we find them, and on safety grounds, this broker falls into the Guarded tier. Proceed with extreme caution.