High-risk forex brokers

Ranking basis. Severity and recency of verified risk indicators. This is a risk list, not a recommendation. Unregulated brokers first, then offshore-only, then closed; within each group, lowest overall score first.

Sponsored This broker has paid for featured placement. Its organic ranking and editorial score are calculated independently.

TabTradeEditorial score9.4/10View brokerVisit broker

1

Hugo's Way✕Unregulated✕High risk

SeychellesEstablished 2017No licence on recordProprietary platform

Deposit$5Spread0.0 pipsLeverage1:500

ReasonUnregulated

6.6/10

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2

Trader's Way✕Unregulated✕High risk

AnguillaEstablished 2011No licence on recordMetaTrader 4 · MetaTrader 5 · cTrader

Deposit$10Spread0.0 pipsLeverage1:1000

ReasonUnregulated

6.9/10

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3

Hankotrade✕Unregulated✕High risk

BelizeEstablished 2018No licence on recordProprietary platform

Deposit$15Spread0.0 pipsLeverage1:500

ReasonUnregulated

7.1/10

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4

Xtrade!Offshore regulated

BelizeEstablished 2003FSC (Belize)FSCA (South Africa)Proprietary platform

Deposit$100Spread1.0 pipLeverage1:400

ReasonOffshore regulated

7.3/10

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5

BDSwiss!Offshore regulated

CyprusEstablished 2012FSA (Seychelles)FSC (Mauritius)MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$10Spread0.0 pipsLeverage1:2000

ReasonOffshore regulated

7.4/10

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6

FBS!Offshore regulated

BelizeEstablished 2009FSC (Belize)MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$5Spread0.7 pipsLeverage1:3000

ReasonOffshore regulated

7.4/10

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7

FXChoice!Offshore regulated

BelizeEstablished 2010FSC (Belize)MetaTrader 4 · MetaTrader 5

Deposit$10Spread0.0 pipsLeverage1:1000

ReasonOffshore regulated

7.4/10

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8

FXGiants!Offshore regulated

British Virgin IslandsEstablished 2015FSC (BVI)MetaTrader 4 · Proprietary platform

Deposit$100Spread0.0 pipsLeverage1:1000

ReasonOffshore regulated

7.4/10

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9

NordFX!Offshore regulated

Saint LuciaEstablished 2008FSA (Seychelles)FSC (Mauritius)MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$10Spread0.0 pipsLeverage1:1000

ReasonOffshore regulated

7.5/10

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10

RoboForex!Offshore regulated

BelizeEstablished 2009FSC (Belize)MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$10Spread0.0 pipsLeverage1:2000

ReasonOffshore regulated

7.5/10

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11

ADS Securities!Offshore regulated

United Arab EmiratesEstablished 2010CMA (UAE)MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$100Spread0.0 pipsLeverage1:500

ReasonOffshore regulated

7.6/10

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12

Orbex!Offshore regulated

MauritiusEstablished 2011FSC (Mauritius)FSA (Seychelles)MetaTrader 4 · MetaTrader 5

Deposit$100Spread0.0 pipsLeverage1:500

ReasonOffshore regulated

7.6/10

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13

Scope Markets!Offshore regulated

BelizeEstablished 2014FSC (Belize)FSC (Mauritius)+1MetaTrader 5 · Proprietary platform

Deposit$50Spread0.0 pipsLeverage1:3000

ReasonOffshore regulated

7.6/10

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14

Fintrix Markets!Offshore regulated

MauritiusEstablished 2022FSC (Mauritius)MetaTrader 4 · MetaTrader 5

Deposit$0Spread0.0 pipsLeverage1:1000

ReasonOffshore regulated

7.7/10

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15

IUX!Offshore regulated

InternationalEstablished 2016FSC (Mauritius)FSCA (South Africa)MetaTrader 5 · Proprietary platform

Deposit$50Spread0.0 pipsLeverage1:3000

ReasonOffshore regulated

7.7/10

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16

PU Prime!Offshore regulated

InternationalEstablished 2015FSA (Seychelles)FSC (Mauritius)+2MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit20Spread0.0 pipsLeverage1:1000

ReasonOffshore regulated

7.8/10

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17

AAAFx!Offshore regulated

ComorosEstablished 2007MISA (Comoros)MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$10Spread0.0 pipsLeverage1:500

ReasonOffshore regulated

7.9/10

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18

Alpari!Offshore regulated

Comoros UnionEstablished 1998MISA (Comoros)MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$50Spread0.0 pipsLeverage1:3000

ReasonOffshore regulated

7.9/10

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19

IC Trading!Offshore regulated

MauritiusEstablished 2022FSC (Mauritius)MetaTrader 4 · MetaTrader 5 · cTrader

Deposit$200Spread0.0 pipsLeverage1:500

ReasonOffshore regulated

8.0/10

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20

InstaForex!Offshore regulated

British Virgin IslandsEstablished 2007FSC (BVI)MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$1Spread0.0 pipsLeverage1:5000

ReasonOffshore regulated

8.0/10

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21

T4Trade!Offshore regulated

SeychellesEstablished 2022FSA (Seychelles)MetaTrader 4 · Proprietary platform

Deposit$50Spread0.0 pipsLeverage1:1000

ReasonOffshore regulated

8.0/10

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22

FXTM!Offshore regulated

MauritiusEstablished 2011FSC (Mauritius)FSCA (South Africa)+1MetaTrader 4 · MetaTrader 5 · Proprietary platform

Deposit$30Spread0.0 pipsLeverage1:3000

ReasonOffshore regulated

8.4/10

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23

TabTrade!Offshore regulated

AustraliaEstablished 2026FSC (Mauritius)MetaTrader 5

Deposit$0Spread0.0 pipsLeverage1:1000

ReasonOffshore regulated

9.4/10

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24

Pepperstone✓Regulated■Broker closed

AustraliaEstablished 2010✓ASIC✓FCA+5MetaTrader 4 · MetaTrader 5 · cTrader

Deposit$10Spread0.0 pipsLeverage1:500

ReasonClosed

8.0/10

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End of ranking

A ranking position does not establish that a broker is suitable for every trader. Verify the legal entity, account terms, costs and protections that apply in your country.

Methodology updated 26 August 2026 · Data updated 26 August 2026 · Report a data issue

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