Our investigation into Raw Forex found an operation with the classic markings of an investment scam. If you are weighing a deposit — or trying to get one back — read this first.
None found
High (4/4)
Saint Vincent and the Grenadines
Avoid — do not deposit
Who is Raw Forex?
On the surface, Raw Forex looks like an ordinary forex and crypto broker. Its public site is presented at https://www.rawforex.com/. It claims to be based in Saint Vincent and the Grenadines. But surface impressions are exactly what these operations rely on — the substance behind Raw Forex is where the problems begin.
Is Raw Forex regulated?
We could find no evidence that Raw Forex holds a valid licence from any recognised financial regulator. Trading client funds without authorisation is one of the strongest indicators of a scam — there is no regulator to complain to, and no protection for your money.
Red flags we identified
- No verifiable licence from a recognised financial regulator
- Offshore or shell-company registration used to avoid oversight
- No credible physical address or verifiable corporate record
- Account dashboards that show “gains” with no real market exposure
- Aggressive “account managers” coaching clients to deposit
Our analysis
Raw Forex claims to operate under Raw Forex Ltd, registered in Saint Vincent and the Grenadines (SVG), and states it maintains a physical presence in Turkey. Our verification confirms that a matching entity exists in the registry of the SVG Financial Services Authority (FSA). However, this registration only confers International Business Company (IBC) status, which is not equivalent to a financial services or forex trading license. Importantly, the SVG FSA explicitly states that it does not regulate or authorize forex brokers. Furthermore, our investigation found that Raw Forex is not licensed by Turkey’s Capital Markets Board (CMB)—nor by any other recognized financial regulatory authority worldwide. This complete lack of legitimate oversight is a major red flag strongly indicative of a fraudulent operation. Therefore, it is a scam.
Can you recover money lost to Raw Forex?
If you have deposited with Raw Forex, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.
Were you scammed by Raw Forex?
You may still have options. Our team can trace where your funds went and tell you honestly whether recovery is realistic — with a free, confidential case review.
Start a free recovery review →Warning: never pay an upfront fee to anyone “guaranteeing” recovery. Cleverecovery does not guarantee outcomes.