How to Recognize Suspicious Online Brokers – A Real Case Study

With the growing popularity of online trading, thousands of new platforms promise quick profits, expert guidance, and cutting-edge tools. But behind the sleek interfaces and confident voices, many brokers hide manipulative tactics designed to extract every cent from unsuspecting traders.

This article is based on my real experience with a platform called AssetsTP, trading through a branded interface named TRDP (based on cTrader). What seemed professional at first turned out to be one of the clearest examples of how these operations work.

1. It Always Starts Professionally

I opened an account through their website, which looked clean and legitimate. I was contacted by a polite onboarding representative, followed by a more “experienced” advisor who guided me through the first trades.

The sales psychology was clear:

• Establish trust.
• Make you feel guided and looked after.
• Encourage a small deposit (in my case, €500) to “test the waters”.

Soon after, daily phone calls started, filled with “exclusive” signals and urgent opportunities. All trades were proposed without stop-losses, only with take-profit targets. Some positions made small profits, many went into deep drawdown.

2. High Leverage and Risk Trap

With 200:1 leverage, risk management became impossible. Even minor price movements had huge impact. After several trades, my balance dropped to around €300.

I stopped trading and ignored further calls.

2. High Leverage and Risk Trap

With 200:1 leverage, risk management became impossible. Even minor price movements had huge impact. After several trades, my balance dropped to around €300.

I stopped trading and ignored further calls.

3. Silent Draining Begins

After about four months of inactivity, I logged in again and found the balance reduced to €127. No email notifications. No transaction summaries.

Only later did I discover they charge €60/month inactivity fees – something never mentioned during onboarding.

When I resumed activity and placed a new trade, another €60 was deducted despite the account being active.

4. No Transparency or Communication

• No notifications for fees or deductions.
• No monthly statements or account updates.
• No way to request withdrawals below €200 – despite no such limit being clearly stated.
• When I emailed support@assetstp.com, the address bounced back – email no longer exists.

Later, my account on TRDP was reset to a demo account with €1,000, and the real balance disappeared.

5. The Pattern is Always the Same

These platforms follow a predictable flow:

• Build trust through human contact.
• Encourage small deposit.
• Show minor profits to build confidence.
• Pressure for bigger capital (€10,000+)
• Drain slowly through bad signals and hidden fees.
• Cut off contact when balance drops.

6. What You Should Watch For

• No regulatory license: Always verify on official regulator sites (FCA, CySEC, BaFin, etc).
• No clear fee structure: Ask in writing. If they avoid answering – walk away.
• Aggressive follow-ups: Daily calls are not normal in reputable firms.
• Withdrawal limits: If you can’t freely withdraw your funds – it’s not your money.
• No email reports or statements: Serious brokers send confirmations for every trade and monthly summaries.

Final Thoughts

I lost around €250. A painful but valuable lesson.

What matters most is that others don’t fall for the same tricks. If this article prevents even one trader from losing their hard-earned money – it was worth it.

This story is real. The screenshots and email records are included below as evidence.

Stay sharp. Trade only with licensed, transparent, and proven brokers.

Last update: January 2026