Forex Scammer List 2022 521 Fake Forex Brokers

Brokers to Avoid.

Selecting the Forex Broker or a trading platform? It is our top priority to choose the most reliable and Safe Forex Trading Provider and who are Brokers to Avoid. We have done deep research, compared numerous Forex Brokers, trading conditions and made a detailed Review of Most Popular Forex brokers to assist your selection and answer most common questions.

Unregulated Brokers.

The Forex Market currently is the largest offering worldwide with hundreds of opportunities and high potential gains, while investors or traders from around the globe seek the most convenient platforms with access to trade.

Among the market proposals, there is a huge number of brokerage firms while some of the companies are regulated, means hold a license or authorized by the industry regulator and some companies are not regulated by any. Read about Forex via Wikipedia. It is a decision of the company where to establish its branch, office or entity, means under which regulations and laws to comply. While most reputable and scrupulous Brokers will look for serious jurisdictions like UK with FCA Regulation or Australia under ASIC overseeing. In case Broker decides not to be regulated, it can be that either the company saves operational costs since the licensing requires strict capital maintenance and can be very costly. Alternatively, the company might be a deceptive Broker with allegedly professional services seeking the frauds and running “Fake Forex Broker”.

🗺️ Type of License.

Offshore License/ No License.

🛡️ Is Unregulated Broker safe to trade.

🗺️ Recommended Licenses.

FCA in UK GB & ASIC in Australia.

🖥 Alternative Brokers / Recommended Brokers.

FP Markets, BDSwiss, BlackBull Markets, see full Regulated Brokers List.

Regulated vs Unregulated Forex Brokers.

In fact, none of the Unregulated Brokers are in our comparison list or marked as recommended ones. The biggest lack of Unregulated or Offshore Broker is regulation, meaning the gap of safety itself. Besides, most of world regulators forbid and restrict offshore or unregulated brokers from accepting the residents , alike none of offshore Forex Brokers accepting US clients, also Regulators regularly issue Warnings, see FCA Warning list.

The whole concept of regulation is the client’s protection, which ensures the safe trading environment and investment itself. The regulated brokers have to comply with various rules and criteria set by the recognized international authority with the purpose to provide secure trading and remain licensed. In addition, authorities protect clients by the compensation schemes that recover client’s investments in case of the company insolvency. And of course, the regulatory body overseeing constantly how exactly the broker delivers its operation to the clients thus can detect if the things going wrong and take necessary action.

How to choose Best Forex broker?

Security of funds is always first in Forex trading, for that reason, we recall your attention to open an account with Regulated Brokers only.

Choose sharply regulated broker with top-tier licenses like FCA, ASIC, CFTC or MAS for money safety Check trading conditions and account types, select offering suitable for your trading strategy Find our spreads and commission for fair fees Reach to Customer Support and Education resources for support.

Best Offshore Trading Brokers.

Good to know, that most often the new brokers choose to provide their service under the offshore licenses which brings partition regulation and saves total provisional cost. Yet, o ffshore regulations and requirements does not bring sharp guarantees and necessary safety measures to the traders, the requirements are rather low and poor. We recommend checking Broker statements about “regulated’ status and verify licenses before you engage in trading.

Therefore, all Offshore and Non licensed Brokers we hardly recommend to avoid at all costs. Read more by the link Why avoid Brokers from St Vincent & The Grenadines.

Why Trade with Unregulated Forex Brokers?

There can be a few reasons why traders would look for Offshore or Unregulated Broker, either to access high leverage, since most of Regulated brokers restrict its use, or trader is based in a country which does not offer Forex Trading, or offshore broker would offer attractive trading conditions. Nevertheless, we do not advise trading with offshore brokers, and in case you still insist choose International entity of the reputable Brokers that hold additional regulations licenses for better trust.

Best Unregulated Forex Brokers List.

Unfortunately, we can’t name any of Top Unregulated Forex Brokers as Best, also there is no Best Offshore Brokers for Day Trading or Offshore Stock Brokers. Security of funds is always first in forex trading, therefore, we recommend choosing a Regulated Forex Broker and open an account with proper security of investments.

The following list of brokers are Unregulated Brokers Reviews or the Brokers to Avoid companies, which we do not recommend trading with, due to their unlicensed operations.