Skip to main content
U.S. Flag An official website of the United States government
Learn & Protect | U.S. Commodity Futures Trading Commission
Transparency Contact Us Accessibility Site Policies FOIA
An Official Website of the United States Government
⚖️
CFTC
Commodity Futures Trading Commission
United States of America
⚠
FRAUD ALERT: The CFTC has observed a significant increase in "pig butchering" scams targeting retail investors. Stay vigilant. Learn how to identify and protect yourself from these schemes →
🛡 Learn & Protect · Consumer Education

Protect Yourself.
Know Before You Invest.

The U.S. Commodity Futures Trading Commission (CFTC) is committed to helping investors identify fraud, understand market risk, and report suspicious activity. Learn to recognize the most common types of commodity fraud before they affect you.

📋 Explore Fraud Types 📞 Report Suspicious Activity
$5.6B
Sanctions ordered in FY2023
96+
Enforcement actions per year
130,000+
Registered market participants
1974
Year established by Congress

⚠ 5 Warning Signs of Fraud

Remember: If you feel rushed, pressured, or anxious about an investment opportunity, stop and talk to someone you trust. Only trade in markets and products you fully understand, and only with entities registered with the CFTC or another federal or state regulator. There is no such thing as a guaranteed return or a risk-free investment.

1

The entity or individual is not registered with the CFTC. Verify registration status for free on the CFTC website.

2

The website or solicitation materials contain spelling or grammatical errors, indicating a lack of professionalism.

3

The entity's website does not disclose a physical address or customer service phone number that can be independently verified.

4

The solicitation promises guaranteed returns or claims to be risk-free — which is impossible in any legitimate financial investment.

5

You are asked to keep the opportunity secret or act immediately, creating artificial urgency and undue pressure.

Fraud Types
Five Common Types of Commodity Fraud

Digital Asset & Cryptocurrency Fraud

Fraudsters lure investors into phony cryptocurrency trading platforms or mining schemes promising extraordinary returns. Common tactics include pump-and-dump manipulation, fake ICOs, and phishing websites that mimic legitimate exchanges.

›

Foreign Currency (Forex) Fraud

Unregistered forex dealers use "managed account" or "automated trading bot" pitches to solicit funds, promising consistent high profits while never executing actual trades on any regulated exchange.

›

"Pig Butchering" Romance Investment Scams

Scammers build trust through dating apps or social media before steering victims toward fraudulent trading platforms. Once significant funds are deposited, the platform disappears along with the victim's money.

›

Precious Metals Fraud

Schemes involving gold, silver, or other precious metals use high-pressure sales tactics and fabricated storage certificates to defraud investors. Promised physical delivery or custodial services are entirely fictitious.

›

Ponzi Schemes & Commodity Pool Fraud

Operators pay early investor "returns" using funds from new participants while fabricating trade confirmations and account statements. The scheme inevitably collapses when the operator can no longer attract new money.

›
Latest Updates
Customer Advisories & Enforcement Actions
Educational Resources
Understand the Markets. Protect Your Investment.

The CFTC offers comprehensive consumer education resources to help investors gain the knowledge and tools needed before participating in derivatives markets.

💱

Foreign Currency Markets

Understand how forex markets operate, the principal risk factors involved, and the legitimate channels for retail participation — and how to spot fraud.

Read More → 12 Articles
₿

Digital Assets & Cryptocurrency

The CFTC's regulatory jurisdiction over digital assets, ICO and IEO risk disclosures, and how to identify fraud in the cryptocurrency space.

Read More → 18 Articles
📊

Introduction to Futures Markets

Core concepts in futures trading, types of market participants, the distinction between hedging and speculation, and what retail investors need to know before trading.

Read More → 9 Articles
Federal Partner Agencies & Regulatory Bodies
SEC · Securities and Exchange Commission
FINRA · Financial Industry Regulatory Authority
FTC · Federal Trade Commission
DOJ · Department of Justice
FBI · Federal Bureau of Investigation
NFA · National Futures Association