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Independent Forex Broker Watchdog

The independent watchdog
exposing forex brokers
targeting Iranians

Every violation, every scam, every blocked withdrawal — exposed here. No exceptions, no bias.

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Broker Reviews
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Experience Forum
A space for Iranian traders to share real trading experiences
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Selection Guide
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Many forex brokers operating in Iran have a documented history of misconduct. Before taking any action, read our exposés and user reports.

About BrokerAlarm

One source.
Independent.

The Iranian forex market has gone without independent oversight for years. Dishonest brokers — armed with false promises, fabricated bonuses, and blocked withdrawals — have drained the savings of millions of Iranian traders.

BrokerAlarm was founded in 2023 with one simple mission: every Iranian trader deserves to know the truth before entrusting their capital to any broker. We are here to fill that void.

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Independent
Unlike many "review" sites, we report honestly. No broker can purchase or alter our findings.
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Documented
Every exposé is backed by evidence — screenshots, records, and verifiable sources.
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Trader Voice
Real experiences from Iranian traders, published without censorship.
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No Compromise
Misconduct means exposure. Without exception.
⭐ BrokerAlarm's Recommended Broker

The result of hundreds of hours of research, testing, and evaluation

WM Markets Logo
WM Markets
Under continuous review, testing, and evaluation by the BrokerAlarm team
At BrokerAlarm, we have assessed dozens of forex brokers on criteria including trade execution quality, deposit and withdrawal speed, Persian-language support, international credibility, account conditions, user feedback, and real-world performance.

After sustained research, hands-on testing, and rigorous comparison, WM Markets currently stands out as one of the strongest options for Persian-speaking traders — which is why it holds our top recommendation.

This is not a simple endorsement. It is the outcome of ongoing evaluation, real user feedback monitoring, and continuous performance oversight.
✓ BrokerAlarm's Pick ✓ Continuously Reviewed Persian Support Fast Deposits & Withdrawals MetaTrader 4/5 Islamic Account Competitive Spreads
#1 BrokerAlarm's top-ranked broker in 2025
Read the Full WM Markets Review
Full account conditions, user experiences, registration walkthrough, and key points to know before opening an account
A real scenario

Your balance keeps growing… until the moment you hit "Withdraw"

This is exactly what has happened to thousands of Iranian traders at unregulated brokers: the account grows, but the moment a withdrawal is requested, the broker finds excuses and the account is frozen.

Without researching your broker

  • ✕ Sign up and deposit in minutes — without checking the license
  • ✕ Offshore regulation or no financial oversight at all
  • ✕ Small withdrawals go through; large ones are blocked
  • ✕ No official or legal channel to file a complaint

Before depositing, check BrokerAlarm

  • ✓ Verify the broker's license and real withdrawal track record
  • ✓ Read reports from Iranian users of that specific broker
  • ✓ Identify red flags before depositing, not after losing funds
  • ✓ Make an informed, confident decision about your capital
Research brokers before you deposit →
Thousands of real reports from Iranian traders — read them before you decide.
FAQ

What you need to know

What does BrokerAlarm do? +
BrokerAlarm is an independent watchdog that investigates and exposes misconduct by forex brokers operating in Iran — continuously and without compromise — so that Iranian traders can make informed decisions and stay protected from fraudulent brokers.
Does BrokerAlarm receive payments from brokers? +
No. No broker can purchase or influence our reports. Our recommendation of brokers such as WM Markets is based solely on our independent evaluation and genuine user satisfaction. Editorial independence is a line we will never cross.
How do I know if a forex broker is trustworthy or a scam? +
Key signs of a legitimate broker: 1) License from a recognized regulator such as ASIC (Australia), FCA (UK), or CySEC (Cyprus). 2) A consistent track record of processing withdrawals for Iranian clients. 3) Full transparency on spreads, commissions, and account conditions. 4) Verified, authentic user reviews. Red flags include guaranteed profit promises, blocked withdrawals, unrealistic bonuses, and absence of a credible license.
Which forex broker is best for Iranian traders? +
Based on our independent research and user feedback, WM Markets ranks at the top: it holds a valid ASIC license, has a consistent withdrawal track record for Iranian clients, offers Persian-language support around the clock, and provides competitive spreads starting from 0.0 pips. That said, we always recommend reading our full review of any broker before making a decision.