In one of the most shocking and ethically bankrupt tactics seen in recent years, some fraudulent brokers have begun engaging in email spoofing of other traders—a form of social engineering where they forge or falsify emails to make it appear as if they’ve come from other clients. This sinister scam is designed to manipulate behaviour, erode trust, and trigger impulsive decisions based on fake peer success, fake testimonials, or even fabricated complaints.

This isn’t just unethical—it’s potentially criminal.

What Is Email Spoofing in Trading?

Email spoofing is the act of forging the sender address in an email to make it appear as though it came from someone else. In the context of shady brokers, this can involve:

• Posing as other traders
• Sending fake “success stories” from supposed clients
• Faking community feedback or referrals
• Fabricating warnings or false gossip about other platforms
• Using fake “testimonials” to push promotions

All of this is done to influence your trading behaviour or deposit decisions through manipulation and deception.

How the Scam Works

1. You Receive an Email from a ‘Fellow Trader’

It appears as though a fellow client or Discord user you interacted with sends you an unsolicited email saying:

“Hey, just wanted to share—I doubled my account last week using their auto-copy feature. It’s unreal. You should try it!”

Or…

“FYI—I heard that [Broker X] is under investigation. I moved all my funds to this platform. So far, it’s way better.”

The language is informal, peer-like, and seemingly genuine.

2. Broker Masks the Real Sender Identity

In the email header, the ‘From’ address matches the name of a real user in the community or someone you’ve seen in chat. However:

• The actual sender domain doesn’t match
• The SPF/DKIM verification fails
• The IP address traces back to the broker’s email server or affiliate team

3. The Message Contains a Hidden Call to Action

These spoofed emails aim to:

• Encourage a deposit with urgency or FOMO
• Promote a signal, bonus, or strategy
• Discredit competitors or regulators
• Create false social proof to justify high-risk decisions

It’s all designed to make you feel like “everyone else is doing it.”

4. When Challenged, Brokers Deny Involvement

If you reply or confront the broker, they insist:

“We don’t control user emails. That must’ve been someone in the community.”

Yet affected “users” claim they never sent such emails, and in some cases don’t even exist outside of Discord or Telegram avatars.

Real Case: Spoofed Email Promotes Risky Account Upgrade

A trader receives an email from “Lucas_FX,” a contact from a shared Telegram group. It reads:

“Upgraded to Pro+ tier last week. With 1:1000 leverage, I finally cracked my strategy. You should do it too.”

Curious, the trader checks with Lucas—who confirms he never sent the email. Header analysis shows the email was spoofed via a generic marketing tool with the broker’s domain as the return path.

The trader later learns the “Pro+” upgrade comes with bonus terms that block withdrawals until 30x turnover is reached.

Why This Scam Is So Dangerous

Broker email spoofing other traders is extremely dangerous because:

• It exploits peer trust and community credibility
• It pushes traders into high-risk decisions using fake social signals
• It undermines actual communication and ruins reputations
• It may constitute wire fraud or identity impersonation under law

It’s psychological manipulation at scale—weaponising fake conversations to influence financial decisions.

How to Detect Email Spoofing

1. Check the Email Header Metadata

Look for:

• SPF: Fail
• DKIM: Fail
• Return-Path: mismatched domain
• IP origin: linked to broker or unknown server farm

2. Confirm with the Supposed Sender

Always ask the person if they sent the message. Most victims of spoofing have no idea their identity was used.

3. Look for Generic Language and Overpromotion

Spoofed emails tend to:

• Overhype results
• Avoid specifics
• Contain shortened or redirecting links
• Include broker promotions embedded as plain text or “natural advice”

4. Use a DNS/WHOIS Lookup

If the sending domain is unknown or recently created, it’s likely a burner domain used for spoofing.

How to Protect Yourself

1. Never Trust Unsolicited Promotions—Even from Known Names
Always verify promotions independently. If a friend or community member recommends something, double-check with them directly.

2. Report Suspicious Emails Immediately

Flag spoofed emails in your email client and report to:

• The broker’s compliance department
• Your local financial authority
• The sender’s domain registrar (if known)

3. Use a Separate Email for Trading Communities

Keep your broker account email separate from public Discords, forums, or Telegram groups. This reduces your exposure to targeting.

4. Educate Your Trading Network

If one trader is spoofed, others may be too. Share warnings in groups and encourage others to check headers before acting on email content.

Legal and Regulatory Implications

Spoofing is a form of identity fraud and cyber deception, and brokers caught engaging in it may be in violation of:

• Data protection laws (GDPR, CCPA)
• Unfair commercial practice rules
• Email marketing laws (CAN-SPAM Act, ePrivacy Regulation)
• Financial promotion regulations under FCA/ASIC/CySEC

Traders impacted by spoofing can file formal complaints and potentially seek compensation for financial losses driven by deception.

Conclusion: Your Inbox Shouldn’t Be a Weapon

The broker email spoofing other traders scam turns your inbox into a psychological tool of manipulation. When a broker is willing to impersonate your peers to control your behaviour, it’s not just untrustworthy—it’s fundamentally abusive.

To learn how to detect spoofing, verify broker integrity, and build your trading decisions on evidence—not deception—enrol in our Trading Courses, built to give you real-world defences against the worst broker scams.