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How to Identify Fake Investment Platforms and Apps: 5 Verification Steps

Last updated: 2026-06-21
Bottom Line: The common feature of fake platforms is 'the interface looks professional, but withdrawals are impossible, and no legal registration can be found'. By completing these 5 steps sequentially before investing, most fake platforms will be exposed.

Step 1 — Check the Financial Supervisory Commission's Approved List

Operating securities, futures, SITE/SICE, or banking business in Taiwan must be approved by the Financial Supervisory Commission (FSC). Check the FSC's 'Approved Institutions Query / Investment Fraud Prevention Zone' to confirm if the entity is on the approved list. Soliciting investments without being on the list is illegal, no matter how good the website looks.

Step 2 — Check if the Company is Legitimately Registered

Use the Ministry of Economic Affairs' company registration database to check: whether the company's unified business number actually exists, whether its registration status is 'Approved' (not dissolved, revoked, or discontinued), and whether its registered business items include financial/investment services. Platforms claiming to be overseas but soliciting in Taiwan without local legal registration carry extremely high risk.

Step 3 — Check Deposit and Withdrawal Channels

Funds of legitimate platforms go into regulated brokerage or bank accounts. If you're asked to wire to a personal name or unknown company account, transfer cryptocurrency to the recipient's wallet, or deposit through third-party agents or private customer service—these are red flags that funds are leaving regulatory oversight.

Step 4 — Identify Counterfeit Domains and Fake Apps

Check whether the domain is a counterfeit of a known broker (e.g., one extra letter, changed to .net/.vip), whether the app comes from the official App Store/Google Play (not scanning a QR code to download an 'enterprise version'), and whether the website displays the company's full name and unified business number instead of just a LINE contact.

Step 5 — Test Withdrawal with a Small Amount

To really test, invest the minimum amount and immediately try to withdraw the full amount back to your account. If the platform starts asking you to pay a deposit, tax, or unlocking fee before withdrawal, it's a scam. Stop immediately and call 165.

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❓ FAQ

Is a platform safe if it has a 'screenshot' of FSC approval?

No. Screenshots can be forged. Check the FSC's official website yourself for the approved list; do not rely on images or links provided by them.

Does being able to withdraw mean it's a real platform?

Not necessarily. Scammers often allow small withdrawals early on to build trust (the 'feed-and-slaughter' tactic). The real test is a large withdrawal, and the process should not require any upfront fees.

⚠️ Disclaimer: This site provides charitable anti-fraud educational information. It does not constitute investment advice and does not guarantee the completeness or timeliness of any information. Public data is for reference only and cannot alone determine the quality of an investment target. Please rely on official sources (165, the Financial Supervisory Commission, the Ministry of Economic Affairs, the National Police Agency) for accuracy. Investment and trading decisions should be carefully evaluated at your own risk.