Can a fake app be on the Google Play Store or App Store?

Sometimes, for a short time. That is why the licence check on the broker matters more than the store listing.

The app shows my profits - can I trust that?

Only if the broker is licensed and you can withdraw. Numbers in an unlicensed app mean nothing.

I installed one. What now?

Do not deposit more. Uninstall it, change passwords used in it, contact your bank, and report it.

Fake trading app signs: how to tell if an app is real

A trading app is likely fake if it is not linked to a licensed broker you can find on the regulator's register, if you were sent a download link or APK instead of finding it in the official store, if your balance grows quickly but withdrawals need a fee or 'tax', or if a contact on WhatsApp or Telegram guides your trades. Check the broker's licence before you deposit anything.

Checked 3 November 2026 · sources below

Step by step

Find the broker behind the app. The app should name a company. Look that company up on SEBI's list (India), ASIC's register (Australia) or the FCA register (UK).
Check where the app came from. A link in a chat, a direct APK file or a 'special version' is a warning. Real brokers publish their app in the official stores and link to it from their own website.
Look at the developer name. In the store, the developer should match the licensed company. Copycat apps use similar names and logos.
Test a small withdrawal early. Fake apps let you deposit easily and block withdrawals. Any fee to 'unlock' profits is a sign of fraud.
Watch for coaching in a group. Being told when to buy in a WhatsApp or Telegram group while profits show in the app is the pattern of many reported scams.
Search the regulator's warnings. Search the app and company name on ASIC's investor alert list, SEBI's notices or the FCA warning list.
Never share OTPs or remote access. No real broker asks for your OTP or to install screen-sharing apps.

Why the balance looks real

In a fake app the numbers on screen are set by the scammer. Early 'profits' and even a small first withdrawal are used to win trust before a larger deposit is asked for.

Where to report

India: cybercrime.gov.in or call 1930. Australia: Scamwatch and ReportCyber. UK: Action Fraud. US: the FBI's IC3. Contact your bank first if money has left your account.

Questions

Can a fake app be on the Google Play Store or App Store?: Sometimes, for a short time. That is why the licence check on the broker matters more than the store listing.
The app shows my profits - can I trust that?: Only if the broker is licensed and you can withdraw. Numbers in an unlicensed app mean nothing.
I installed one. What now?: Do not deposit more. Uninstall it, change passwords used in it, contact your bank, and report it.

Sources

Check it before you pay

Paste the message, invite or app name you were sent into Tip Check and see the warning signs.

Open Tip Check