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High-risk forex brokers

Brokers with no licence from any financial authority, or named in an official warning or legal finding. Offshore regulation on its own is not a risk indicator here.

Compare qualifying brokers using the criteria and data coverage described below. Results were last updated 3 November 2026.

Ranked by Risk indicatorData updated 3 November 20261957 qualifying brokersView ranking methodology

Ranking basis. Absence of any licence, or a verified warning or legal finding. This is a risk list, not a recommendation. Brokers that hold no licence with any authority, lowest overall score first. A broker with an official warning or legal finding against it joins the list when that record is published.

1001

Coverdeal FXUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1002

COZFXUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1003

CP MarketsUnregulatedHigh risk

CanadaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1004

cpmUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1005

CPYUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1006

CREMORNEUnregulatedHigh risk

United StatesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1007

Crib MarketsUnregulatedHigh risk

United Arab EmiratesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1008

Crypto Zone 24UnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1009

CSIUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1010

CTBC SECURITIESUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1011

CTINUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1012

Da Di (Hong Kong)UnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1013

Daiichi Premiere SecuritiesUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1014

DAMAN MARKETSUnregulatedHigh risk

United Arab EmiratesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1015

DaveUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1016

DBS MarketsUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1017

DCFUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1018

DDMUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1019

DDO.INCUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1020

DEFXUnregulatedHigh risk

IndonesiaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1021

Delta Asia Financial GroupUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1022

DEMISUnregulatedHigh risk

RussiaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1023

Destek MarketsUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1024

DinosaurUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1025

direktbroker-FXUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1026

DMEUnregulatedHigh risk

United Arab EmiratesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1027

DNA MarketsUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1028

Dollars MarketsUnregulatedHigh risk

MauritiusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1029

Domino ForexUnregulatedHigh risk

MaltaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1030

dotoUnregulatedHigh risk

SeychellesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1031

Dragon CapitalUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1032

DropetUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1033

DRSUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1034

DRWUnregulatedHigh risk

SingaporeEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1035

DSYUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1036

DT MarketUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1037

DTCUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1038

DV MarketsUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1039

DXtradeUnregulatedHigh risk

SingaporeEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1040

E-TransUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1041

E.SUN SecuritiesUnregulatedHigh risk

台湾省台北市松山区民生东路五段36巷4弄1号Establishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1042

EalsUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1043

Eangel MarketsUnregulatedHigh risk

CanadaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1044

East AtlanticUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1045

East Oriental TradingUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1046

EASY SECURITIESUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1047

Eclipse TRADINGUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1048

ECRYPTO FUTUREUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1049

ED&F ManUnregulatedHigh risk

United Arab EmiratesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1050

EDR FinancialUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1051

EIGEN FXUnregulatedHigh risk

CanadaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1052

EIGHT PLUS CAPITALUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1053

EktronixUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1054

Elite CapitalsUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1055

ELITECM INTERNATIONALUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1056

EMERGOUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1057

Emporium CapitalUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1058

EMR FXUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1059

EnglonUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1060

EP GOLDUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1061

EPFXUnregulatedHigh risk

South AfricaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1062

EPPE FOREXUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1063

Equiti CapitalUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1064

ESW Capital MarketsUnregulatedHigh risk

MacauEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1065

ETFinanceUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1066

EtransUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1067

ETXUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1068

EurivexUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1069

EUROPEFXUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1070

EVER FOREXUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1071

Ever-longUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1072

EVERBRIGHT SECURITIESUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1073

EverforexUnregulatedHigh risk

CanadaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1074

EVESTUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1075

Evolution MarketsUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1076

EXANTEUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1077

ExcaliburUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1078

eXcentralUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1079

Exclusive CapitalUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1080

ExcoUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1081

EXTUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1082

EZINVESTUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1083

F-wise CapitalUnregulatedHigh risk

South AfricaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1084

FAIR MARKETSUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1085

Fake Alpha SecuritiesUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1086

Fake ATFXUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1087

Fake CMC MarketsUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1088

Fake DTTUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1089

Fake FXTMUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1090

Fake LMAXUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1091

Fake Marex SpectronUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1092

Fake MBG MarketsUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1093

Fake PhillipCapital UKUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1094

Fake Rubix FXUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1095

Fake SVSFXUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1096

Fake TickmillUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1097

Fake XTBUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1098

fandfordUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1099

Fathom WMAUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1100

FBK MARKETSUnregulatedHigh risk

South AfricaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

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 3 November 2026 · Data updated 3 November 2026 · Report a data issue

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