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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.

1401

KVB GlobalUnregulatedHigh risk

SingaporeEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1402

KVB KunlunUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1403

Ladyhill CapitalUnregulatedHigh risk

SingaporeEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1404

Land PrimeUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1405

LCGUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1406

LCMUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1407

Lead SecuritiesUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1408

LegacyFXUnregulatedHigh risk

BelarusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1409

LenoUnregulatedHigh risk

BulgariaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1410

leoUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1411

LevelmaxUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1412

LeverateUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1413

LGTUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1414

LHCMUnregulatedHigh risk

MaltaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1415

Lider ForexUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1416

LIGHT FXUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1417

LightyearUnregulatedHigh risk

EstoniaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1418

LimitMarketsUnregulatedHigh risk

MauritiusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1419

LINE FXUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1420

Link Asset ServicesUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1421

Linton FinancialUnregulatedHigh risk

CanadaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1422

LionheartUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1423

Liv-fxUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1424

LIVE FXTMUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1425

LIZFXUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1426

LONGRUN FINANCIALUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1427

LonnyUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1428

LS MARKETSUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1429

LUKFOOK FINANCIALUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1430

LUKFOOK JEWELLERYUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1431

Luna WealthUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1432

LXMUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1433

LYKOSUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1434

M.SUCCESS FXUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1435

MAGIC COMPASSUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1436

MagKingUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1437

MagnaSaleUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1438

MAGNUM FXUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1439

MahiMarketsUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1440

Major Prime FXUnregulatedHigh risk

SeychellesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1441

MALEYATUnregulatedHigh risk

United Arab EmiratesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1442

ManUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1443

ManifordUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1444

ManulifeUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1445

MarianaUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1446

MarketbrokersUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1447

MarketCap HoldingsUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1448

Markets FinanciersUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1449

MARKETS UKUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1450

Mary And Thomas Green LimitedUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1451

MASON GROUPUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1452

MasterLink SecuritiesUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1453

MATGUnregulatedHigh risk

New ZealandEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1454

MatrixFX TradeUnregulatedHigh risk

MaltaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1455

MAX MSUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1456

MaxFXUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1457

Maxx EmpireUnregulatedHigh risk

CanadaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1458

MayfairTopFXUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1459

MCKAY GLOBAL MARKETSUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1460

MCPUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1461

MCS ForexUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1462

MDFUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1463

MEDERN CAPITALUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1464

Mega RichUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1465

Mega SecuritiesUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1466

MegaFXUnregulatedHigh risk

CanadaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1467

MegagrowthUnregulatedHigh risk

IndonesiaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1468

Meiji YasudaUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1469

Meiwa SecuritiesUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1470

MenasecuritiesUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1471

MerchantFXUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1472

MeritKapitalUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1473

MERLION GLOBALUnregulatedHigh risk

MalaysiaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1474

METUnregulatedHigh risk

United KingdomEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1475

Meta SecuritiesUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1476

MetroUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1477

MEVPUnregulatedHigh risk

United Arab EmiratesEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1478

MEX ExchangeUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1479

MEXEMUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1480

MEXnUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1481

MHFUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1482

Mi.EcnFxUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1483

MICIGUnregulatedHigh risk

CanadaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1484

Miliman capitalUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1485

MILLIMANFXUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1486

MINMETALS FINANCIAL SERVICES LIMITEDUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1487

minzhongUnregulatedHigh risk

Hong KongEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1488

MITOUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1489

MitoyoUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1490

MLCUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1491

MoaUnregulatedHigh risk

New ZealandEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1492

ModmountUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1493

MOGAFXUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1494

MONAXAUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1495

MoneoTradeUnregulatedHigh risk

CyprusEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1496

MonexUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1497

Monex EuropeUnregulatedHigh risk

SingaporeEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1498

Monex SecuritiesUnregulatedHigh risk

AustraliaEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1499

Money DesignUnregulatedHigh risk

JapanEstablishment year not confirmedNo licence on record

DepositNot publishedSpreadNot publishedLeverageNot published

ReasonUnregulated

1.0/10

1500

MoneytechUnregulatedHigh risk

AustraliaEstablishment 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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