Written by
James Wilson
Fact Checked by
Edith Balazs
Updated Weekly • January 2026
Check Whether Your Forex Broker is Trusted by BrokerAnalysis
Protect yourself from forex scams. We maintain a database of 107+ known scam forex brokers and 69 verified, tier-1 regulated brokers. Research any broker before depositing funds.
Enter broker name below
Our scam database is updated regularly with warnings from FCA, CFTC, ASIC, AMF, and other regulatory bodies.
Showing 176 of 176 results
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Pepperstone
4.7/5
Verified
Trusted & Regulated Broker
- Regulators: ASIC, FCA
- Min Deposit: $0
Leverage:N/A
BlackBull Markets
4.6/5
Verified
Trusted & Regulated Broker
- Regulators: FMA, FSA
- Min Deposit: $0
Leverage:N/A
FP Markets
4.6/5
Verified
Trusted & Regulated Broker
- Regulators: ASIC, CySEC
- Min Deposit: $100
Leverage:N/A
IG
4.6/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, ASIC, MAS
- Min Deposit: $0
- Platforms: L2 Dealer
Leverage:N/A
XM
4.6/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC, ASIC, IFSC
- Min Deposit: $5
Leverage:N/A
AvaTrade
4.5/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC, MiFID II
- EUR/USD Spread: 0.9 pips
Leverage:N/A
CMC Markets
4.5/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, CIRO
- Min Deposit: $0
- EUR/USD Spread: 1.2 pips
Leverage:N/A
Fusion Markets
4.5/5
Verified
Trusted & Regulated Broker
- Regulators: ASIC (High)
- Min Deposit: $0
- EUR/USD Spread: 0 pips
Leverage:N/A
Interactive Brokers
4.5/5
Verified
Trusted & Regulated Broker
- Min Deposit: $0
Leverage:N/A
Axi
4.4/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, ASIC
- Min Deposit: $0
- EUR/USD Spread: 0.2 pips
Leverage:N/A
eToro
4.4/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC, FCA
- EUR/USD Spread: 1 pips
Leverage:N/A
Forex.com
4.4/5
Verified
Trusted & Regulated Broker
- Regulators: NFA, CFTC, FCA
- Min Deposit: $100
- Platforms: Web, MT4
Leverage:1:50
IQ Option
4.4/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC (EEA)
- Min Deposit: $10
Leverage:N/A
Saxo Bank
4.4/5
Verified
Trusted & Regulated Broker
- Regulators: FSA Denmark, FCA
- EUR/USD Spread: 0.6 pips
Leverage:N/A
Swissquote
4.4/5
Verified
Trusted & Regulated Broker
- Regulators: FINMA, FCA
- EUR/USD Spread: 0.9 pips
Leverage:N/A
Tickmill
4.4/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, CySEC
- Min Deposit: $100
Leverage:N/A
Vantage Markets
4.4/5
Verified
Trusted & Regulated Broker
- Regulators: ASIC, FCA
- Min Deposit: $50
Leverage:N/A
FXCM
4.3/5
Verified
Trusted & Regulated Broker
- Regulators: FCA
- EUR/USD Spread: 1.3 pips
Leverage:N/A
FxPro
4.3/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, CySEC, FSCA
- Min Deposit: $100
- EUR/USD Spread: 1.4 pips
Leverage:N/A
FXTM
4.3/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC, FCA
- EUR/USD Spread: 0.2 pips
Leverage:N/A
HFM
4.3/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, CySEC, FSCA
- Min Deposit: $5
Leverage:N/A
HotForex
4.3/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, CySEC
- Min Deposit: $5
- EUR/USD Spread: 1.2 pips
Leverage:N/A
Libertex EU
4.3/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC
- Min Deposit: $100
Leverage:N/A
Moneta Markets
4.3/5
Verified
Trusted & Regulated Broker
- Regulators: FSCA
- Min Deposit: $50
Leverage:N/A
RoboForex
4.3/5
Verified
Trusted & Regulated Broker
- Regulators: FSC
- Min Deposit: $10
Leverage:N/A
Admiral Markets
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC, FCA
- EUR/USD Spread: 0.6 pips
Leverage:N/A
Ally Invest
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: NFA
- Min Deposit: $0
- EUR/USD Spread: 1.5 pips
Leverage:N/A
Binarium
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: Unregulated
- Min Deposit: $5
Leverage:N/A
Binomo
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: IFC
- Min Deposit: $10
Leverage:N/A
CIBC Investors Edge
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: IIROC
- Min Deposit: $0
- EUR/USD Spread: 2 pips
Leverage:N/A
City Index
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: MAS
- EUR/USD Spread: 0.5 pips
Leverage:N/A
Deriv
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: MFSA, LFSA, VFSC
- Min Deposit: $5
Leverage:N/A
EasyMarkets
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC, ASIC, FSA
- Min Deposit: $25
- EUR/USD Spread: 0.7 pips
Leverage:N/A
Expert Option
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: VFSC
- Min Deposit: $10
Leverage:N/A
FBS
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: IFSC, CySEC
- Min Deposit: $5
Leverage:N/A
Freedom24
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC
- Min Deposit: $0
- Platforms: Web, App
Leverage:N/A
FXORO
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC
- Min Deposit: $200
- EUR/USD Spread: 2 pips
Leverage:N/A
GBE Brokers
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC
- Min Deposit: $1000
Leverage:N/A
Global Prime
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: ASIC (High)
- Min Deposit: $0
- EUR/USD Spread: 0.2 pips
Leverage:N/A
GO Markets
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: ASIC (High)
- Min Deposit: $0
- EUR/USD Spread: 0.4 pips
Leverage:N/A
Hantec Markets
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, ASIC
- Min Deposit: $10
- EUR/USD Spread: 0.8 pips
Leverage:N/A
HYCM
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, CySEC, DFSA
- Min Deposit: $100
- EUR/USD Spread: 1.8 pips
Leverage:N/A
IC Trading
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FSC
- Min Deposit: $200
Leverage:N/A
IQCent
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: Unregulated
- Min Deposit: $20
Leverage:N/A
IronFX
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FCA, CySEC
- Min Deposit: $50
- EUR/USD Spread: 1.6 pips
Leverage:N/A
KGI Securities
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: MAS
- EUR/USD Spread: 1.2 pips
Leverage:N/A
Nadex
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CFTC (USA)
- Min Deposit: $0
Leverage:N/A
OctaFX
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC
- Min Deposit: $25
- EUR/USD Spread: 0.6 pips
Leverage:N/A
Olymptrade
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FinaCom
- Min Deposit: $10
Leverage:N/A
Phillip Capital
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: MAS
- EUR/USD Spread: 1 pips
Leverage:N/A
Pocket Option
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: IFMRRC
- Min Deposit: $50
Leverage:N/A
PU Prime
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FSA (Seychelles)
- Min Deposit: $50
Leverage:N/A
Questrade
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: IIROC
- EUR/USD Spread: 1.5 pips
Leverage:N/A
Quotex
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: IFMRRC
- Min Deposit: $10
Leverage:N/A
Spreadex
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FCA
- EUR/USD Spread: 0.6 pips
Leverage:N/A
Standard Bank Webtrader
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FSCA
- EUR/USD Spread: 1.5 pips
Leverage:N/A
StarTrader
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: FSA (Seychelles)
- Min Deposit: $50
Leverage:N/A
Tastyfx
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CFTC, NFA
- Min Deposit: $0
- EUR/USD Spread: 0.8 pips
Leverage:N/A
TD Direct Investing
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: IIROC
- Min Deposit: $0
- EUR/USD Spread: 1.8 pips
Leverage:N/A
ThinkMarkets
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC, FCA
- EUR/USD Spread: 0.4 pips
Leverage:N/A
TradeStation
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: SEC
- Min Deposit: $0
- Platforms: TradeStation
Leverage:N/A
VT Markets
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: ASIC, FSCA
- Min Deposit: $100
Leverage:N/A
Wealthsimple
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: IIROC
- Min Deposit: $0
- EUR/USD Spread: 2 pips
Leverage:N/A
XTB
4.2/5
Verified
Trusted & Regulated Broker
- Regulators: CySEC, FCA, KNF
- EUR/USD Spread: 0.8 pips
Leverage:N/A
!
CORBIT GLOBAL FLIPS
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Operating without FCA authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
FAST UNION TRADES
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
West Hill Capital
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Clone firm - impersonating authorized broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Optimum Market Pips
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Unregistered forex provider
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
idolFX
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Operating without proper authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
PSI-Markets
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Unauthorized trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Exopip
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Operating without FCA authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
ETFINVEST
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Unauthorized investment services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
GRAND FX OPTIONS
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Unregistered forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
PRIME FORTUNE INVEST
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Operating without authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
GOLDEN FX MARKET
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Beeveetradefx
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Unregistered trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Octafxtrade
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Clone firm warning
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
GENIUSTOCK
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Unauthorized investment services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
AVORCAPITALTRADE GROUP
FCA (UK)July 2024
Warning: Potential Scam
- Warning Reason: Operating without authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Roobic.io (Globus Solutions)
FCA (UK)April 2024
Warning: Potential Scam
- Warning Reason: Unauthorized crypto/forex trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Bnp Groups
FCA (UK)April 2024
Warning: Potential Scam
- Warning Reason: Clone firm - impersonating BNP Paribas
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Mile Stone Finance
FCA (UK)April 2024
Warning: Potential Scam
- Warning Reason: Unauthorized financial services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Nexfordasset
FCA (UK)April 2024
Warning: Potential Scam
- Warning Reason: Unregistered forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Bull Trading Investment
FCA (UK)April 2024
Warning: Potential Scam
- Warning Reason: Unauthorized investment platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Speedwood Finance
FCA (UK)April 2024
Warning: Potential Scam
- Warning Reason: Operating without FCA authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Capital-partnersgroup.com
FCA (UK)April 2024
Warning: Potential Scam
- Warning Reason: Unauthorized financial services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
ELAXTRADE
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
JUPITERCHAINFX
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unregistered crypto/forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Cyber Capital
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized investment services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
BITFX FREEDOM
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unregistered forex provider
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
TIER TRADES
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Operating without authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
MORGAN OPTION TRADE FX
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized options/forex trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
TOPMETROFX
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unregistered forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Crypto Wealth Expert
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized crypto trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
MONTEXTRADE
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Operating without FCA authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Europa Trade Capital
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
FXP 360
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unregistered trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Solidus Markets
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
VECOGLOBAL
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Operating without authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
ECOBOTTRADERS
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized automated trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
OGM Markets
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unregistered forex provider
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
FXCAPE
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
STERFIRMFX
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unregistered trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
TOPRPTRADES
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Operating without FCA authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
AAA Fund
FCA (UK)January 2024
Warning: Potential Scam
- Warning Reason: Unauthorized investment fund
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Tradeness Options
FCA (UK)January 2026
Warning: Potential Scam
- Warning Reason: Unlicensed forex/options broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
BIT FINANCIAL
AMF (France)January 2026
Warning: Potential Scam
- Warning Reason: Not registered to provide financial services in France
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
AxeTradeCapital
AMF (France)January 2026
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Vision FS
AMF (France)January 2026
Warning: Potential Scam
- Warning Reason: Unregistered financial services provider
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Luxtious
AMF (France)January 2026
Warning: Potential Scam
- Warning Reason: Operating without AMF authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Elite AI
AMF (France)January 2026
Warning: Potential Scam
- Warning Reason: Unauthorized AI trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
aboveinvesting.pro
AMF (France)2024
Warning: Potential Scam
- Warning Reason: Blacklisted unauthorized forex site
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
fortnomics.com
AMF (France)2024
Warning: Potential Scam
- Warning Reason: Blacklisted unauthorized trading site
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
westhillcapital.pro
AMF (France)2024
Warning: Potential Scam
- Warning Reason: Unauthorized investment services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Ranger Capital
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
TDFX
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unlicensed forex trading services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Inefex
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
YorkerFX
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Operating without RBI authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Growline
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Smart Prop Trader
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unlicensed prop trading firm
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
FundedNext
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unauthorized prop trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Weltrade
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unregistered forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
FreshForex
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
FX Road
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unlicensed forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
DBG Markets
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unauthorized forex trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Plusonetrade
RBI (India)October 2024
Warning: Potential Scam
- Warning Reason: Unregistered trading services
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Ester Holdings
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Withdrawal problems and manipulative trading practices
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Sturdy FX
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: High-pressure sales tactics and refusing withdrawals
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Atlas Finance
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Fraudulent activities and identity theft concerns
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Start Capital
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: No regulation, withdrawal delays, account manipulation
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
CaprionGroup
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Fake regulatory claims and withdrawal problems
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
AffluenceFX
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Promoted guaranteed profits from automatic trading
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
AmeritForexTrade
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Promised unrealistic returns
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
APEX Capital Markets
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Cloned website of legitimate broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Astrofxoptions
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Guaranteed fast returns (fraudulent claim)
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
AuroraStocks
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Fake regulations and withdrawal problems
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Ava Capital Markets
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Cloned AvaTrade broker with fake regulations
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
BitForexTrade
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Guaranteed weekly returns (impossible claim)
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Bullion FX (BFX/Bully Pedex)
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Promoted risk-free trading (fraudulent)
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
DCC Invest
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Cloned website of legitimate broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Dynasty Trade
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Cloned website scam
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
FXC Markets
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Unregulated with fake credentials and withdrawal issues
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
HQBroker
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Unlicensed, account manipulation, poor support
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Brokerz
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Unregulated, withdrawal problems, banned in many regions
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Olsson Capital
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Clone broker with frozen customer funds
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
AFX Capital
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: License revoked for serious breaches, frozen funds
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
CT-Trade
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Deceptive practices, multiple regulatory warnings
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Tropical Trade
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Unlicensed, fraudulent trading activities
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
BForex
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: History of fraud, blacklisted by regulators
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Apex Trader
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Unregulated with unfair trading conditions
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
PrimeCFDS
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: No legitimate licensing, numerous complaints
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
TNFL FX
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Lacks proper FCA and NFA authorization
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Goccfx
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Completely unregulated forex broker
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
OceanTrade
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Falsely claimed to be registered FSP
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
TRADECMF
CNMV/CONSOB/FSMA2024
Warning: Potential Scam
- Warning Reason: Warnings issued by multiple European regulators
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
ICM Brokers
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Offshore registration with poor oversight, withdrawal issues
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Forexcitypro
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Fake registration claims in unregulated jurisdictions
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
BTS Investments
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: No verifiable regulatory disclosures
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Myrtle
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Operating from unregulated offshore jurisdiction
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Forexpress
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: No legitimate regulation or oversight
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
24FX
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: False advertising and blocking withdrawals
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
24options
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Fund withdrawal complaints and account manipulation
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
4XP
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Unlicensed broker withholding client funds
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
770capital
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: False promises and blocking withdrawals
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Absolute Markets
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Unregulated and refuses payouts
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
CoingateForexPro
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Potential scam with no regulation
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Forex Capital Gain
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Fraudulent trading platform
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Tranquil Trade FX
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Guaranteed profits claim, no regulatory license
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
panfxtrades
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: False profit claims, no verifiable regulation
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Professional Toptrade
Industry Blacklist2024
Warning: Potential Scam
- Warning Reason: Guaranteed 80-90% returns claim (fraudulent)
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
!
Yuan Internationality
IOSCOMarch 2023
Warning: Potential Scam
- Warning Reason: Listed on IOSCO international warning list
- Not regulated by any recognized financial authority
- Listed on official regulatory warning lists
Do NOT deposit funds with this broker. Report to your local financial authority if contacted.
How to Identify a Scam Forex Broker
Red Flags to Watch For
- No regulation - Always verify with FCA, ASIC, CFTC, or CySEC
- Guaranteed profits - No legitimate broker can guarantee returns
- Withdrawal issues - Delays or refusal to process withdrawals
- Pressure tactics - Aggressive sales calls pushing you to deposit more
- Unrealistic bonuses - Huge bonuses with impossible withdrawal conditions
- Clone websites - Sites mimicking legitimate brokers
Signs of a Trusted Broker
- Tier-1 regulation - FCA (UK), CFTC (US), ASIC (Australia)
- Segregated funds - Client money kept separate from company funds
- Investor protection - Coverage up to £85k (UK) or $500k (US)
- Transparent fees - Clear disclosure of all trading costs
- Long track record - Years of operation without major incidents
- Fast withdrawals - Reliable processing within 1-3 business days
Verify Broker Regulation
Always check a broker's regulatory status directly with these official sources: