Zero commission, a proprietary platform, high leverage, and a 0.01-second execution speed — it all looks very appealing and advantageous. These are the conditions offered by the brokerage company Carioro. However, we are concerned by the small number of reviews available online and its official registration in a questionable jurisdiction. Altogether, this strongly resembles a scam.
Brief Overview
- 🖥Official Website: https://carioro.com
- ✈️Contact Address: Island Ring Road, TB Office, NRU68, Yeren, Nauru, Republic of Nauru
- 📞Customer Support: support@carioro.com, +1(672)8888236
- 🔐Licensing and Accreditation: –
- ⏳Track Record: 2025
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $5,000, 1:400
- 💰Additional Services: account manager, daily insights, personal portfolio, research tools
Carioro.com Examination
The Carioro website is a typical example of a templated fake broker that tries hard to appear as a serious international platform. Images of laptops, charts, and “trading” hands — we have seen all of this on dozens of similar fraudulent sites. The background video is a meaningless display of futurism with flashing lines, a night-time cityscape, and abstract graphics.
The website is available in English, Portuguese, Chinese, Arabic, and Hindi. This is presented as a sign of its international status. The homepage is cluttered with motivational phrases devoid of any real meaning:
- «Trade with a simple tap on your device»,
- «Transforming the way you trade»,
- «Smart access to global markets» etc.
All useful information is tucked away in the footer of the official website — the legal entity, address, and risk warning. The “About us” section contains no essential or relevant details, such as the founding date, names of the founders, or the business model. Carioro reveals very little about itself.
In short, this is a templated website built by all the classic fraudulent standards: clichéd phrases and pseudo-motivational slogans, generic stock images taken from the internet, and a complete lack of necessary information.
Company Contacts
Carioro offers only two channels of communication: email and a phone number. Nothing else. Where is the live chat, which is the most convenient way to resolve issues quickly? Where are the messaging apps, such as Telegram or WhatsApp, that also allow for prompt communication with representatives? In essence, you can either send an email and wait a long time for a reply, or try calling.
Key Conditions
Some of the trading conditions seem acceptable, while others are simply astonishing. For instance, the minimum deposit. Carioro requires a minimum of $5,000 to activate the first account tier — which is exceptionally high. By comparison, brokers such as XM or Oanda allow clients to begin trading with less than $100. Here, there is not even a cent account or a demo account available. The second account type starts at $10,000, and the third at $25,000. The fourth and fifth require $100,000 and $250,000 respectively. These are enormous sums to risk with a little-known broker.
The company’s logic is simple — the better the plan, the more favorable the conditions, but you must deposit more money. In this way, the firm attempts to extract as much capital from its clients as possible. An additional service:
- Education center.
- Price alerts.
- Personal portfolio.
- Research tools.
- Daily Market Insights.
- Account manager.
- Hedging.
- Negative-balance protection.
- Low market price difference.
Carioro offers leverage of 1:200 to 1:400, along with zero commission. The latter is rather concerning. If the commission is zero, then the spreads must be enormous, yet their exact size is not disclosed. Moreover, reputable brokers always provide a choice between paying commission or paying spreads. If a company can afford to offer zero commission, then it must be profiting in other ways. It is evident that the firm is interested in client losses, as it operates a dealing desk without passing orders to liquidity providers. This indicates a clear conflict of interest.
Exposing Carioro
Let us examine the legal information, particularly the license and the broker’s location, since this is a rather unusual jurisdiction for registering a brokerage business.
Carioro lists its legal entity as Capitalist Ltd, which is based in the Republic of Nauru, and it claims to hold a license from the local regulator, the ISA. We checked the register of the Nauru Financial Commission at isanauru.com and confirmed that Capitalist Ltd is indeed registered there. However, this should not be mistaken as a guarantee of reliability.
A brokerage licence from the ISA (International Services Authority, Nauru) is, in essence, a formality with no genuine oversight. Unlike respected regulators such as the FCA (United Kingdom), ASIC (Australia), or CySEC (Cyprus), the ISA imposes no stringent requirements regarding capital adequacy, client fund protection, risk insurance, or asset custody. To obtain such a “licence”, it is sufficient to register an offshore company, pay a state fee, and list a nominal “director” — there is no background check, financial reporting, or auditing required.
As a result, a company licensed in Nauru can legally avoid submitting operational reports, is not part of any compensation schemes, and bears no responsibility for client funds lost. In contrast, the FCA protects clients up to £85,000 through the FSCS, and ASIC enforces actual legal action against misconduct. The Nauru regulator does not intervene in disputes between traders and brokers. Such “oversight” is not protection — it is merely a façade that provides scammers with the appearance of legitimacy.
Furthermore, Carioro has no proven track record. The founding date is not disclosed, but based on the domain registration of the official website, it is clear the project was launched in the spring of 2025.
What Reviews Do Users Leave?
There are also very few reviews about Carioro. This further confirms that the company is new and largely unused, as it is extremely risky. While a reputable broker would have hundreds, thousands, or even tens of thousands of reviews, the subject of this review has only a handful at best.
Conclusions
Everything we see on the Carioro website is an attempt to create the illusion of a large and trustworthy broker, behind which lies offshore registration, a lack of transparency, and dubious trading conditions. A license from Nauru provides no real protection, and the $5,000 minimum deposit is nothing more than a one-way ticket with no guarantee of return. Reviews are virtually non-existent; contact options are minimal, and the website looks hastily assembled. Making a deposit here means handing your money over to those who bear absolutely no responsibility towards you.
Pros/Cons
- There is a version of the site in several languages (English, Chinese, Portuguese, etc.).
- They promise zero commission and fast execution of orders.
- Registration and license in an offshore jurisdiction (Nauru), with no real supervision.
- A minimum deposit from $5,000 is too high for an unknown broker.
- No demo account, no cent account, and no transparent conditions on spreads.
- Almost complete absence of reviews and reputation on the Internet.
- Short term of operation.
In my opinion, trading through Carioro is a bad idea. The company is completely unknown and commissions fake positive reviews about itself. I refused to invest money because I clearly see this as a broker trap. I am convinced that all deposits will be taken and nothing will be returned. This is definitely a fake and a scam, not a safe broker