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Forensic review · October 2026

Elefin Review — Is Elefin a Scam?

Forensics Source Group is not affiliated to this broker. We do not hold this account, we cannot close a balance, and we do not phone you as this firm.

Yes. Elefin is an offshore CFD/forex broker (MT5, 300+ instruments, leverage up to 1:2000, crypto and UPI deposits) registered only as a Saint Lucia business — promoted to Indian retail through influencers The notices are written once, in the block below. If you paid elefin.com, the date and how you paid are the part this review cannot see.

Send this to Forensics Source Group
The short answerExhibits core scam red flags
WithdrawalsWithdrawal blocked; deposit confiscated after inactivity
What to doSend it to Forensics Source Group
The record

What the notices say

  • A hands-on BrokerListings.com review (2026): Saint Lucia business registration only — not a financial licence; 1:2000 leverage marketed as “low risk”; no segregated client accounts; crypto-denominated funding. Verdict: “don't deposit”.
  • An r/IndianStreetBets thread (2025): “New Forex Broker ELEFIN Seems Like a Scam… promoted by influencers… built on top of FTP London” — the influencer-pump pattern.
  • Trustpilot 1-star: deposited, never traded, blocked on the withdrawal attempt — “they block me, they don't give deposit back”.
  • Only offshore-tier registration exists; third-party domain trust scores are generic domain-age signals and say nothing about legitimacy.
Loss or this pattern

A trading loss and this pattern are not the same

A trading loss is a real position that moved against you. You can see the trade. The pattern below is a different event.

  • influencer-driven recruitment via Instagram or Telegram
  • UPI or crypto deposits with no chargeback route
  • withdrawal blocked the moment you try
  • leverage of 1:2000 sold as “low risk”
  • “recovery agents” then contacting victims — themselves scammers
FAQ

Frequently asked questions

Can you close my Elefin account, or have the person who phoned me call again?

Forensics Source Group is not affiliated to this broker. We do not hold an account at elefin.com. We cannot confirm a balance, close an account, or phone you as Elefin.

Elefin says I must pay a tax or fee before withdrawing — should I?

No. A real broker deducts a fee from the balance. A new payment to release your own money is a second charge. Keep the message that asked for it.

What do you do with what I send?

We place it next to the record above. Where the same payment shows up from other people, those files can sit together as a class action. The first look is free.

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Forensics Source Group is not affiliated to this broker. We cannot close an account or confirm a balance. Write the date and how you paid.

Office5615 Concord Pike, Wilmington, Delaware 19803, USA
CoverageUnited States · United Kingdom · European Union · Germany
Forensics Source Group operates lawfully and only on systems, devices and accounts our clients own or are legally authorized to examine. This review is a forensic assessment of publicly observable information as of October 2026; it is not investment advice.