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Blacklist Forex Brokers

The financial market is one of the most dynamic and highly liquid, it involves high risks and equally impressive profitability of transactions. Starting trading in the financial markets, many traders are wondering how not to get on the participant from the BlackList of Forex Brokers. How to reliably find out that a company does not commit fraudulent acts against its customers? Having studied authoritative resources on the Internet, we have compiled a list of potentially dangerous companies.

ThinkForex

ThinkForex is a forex brokerage brand belonging to TF Global Markets Pty Ltd. The company operates both a non-dealing desk and a market maker model of forex brokerage services to its clients. Located in Melbourne, Australia, ThinkForex is subject to regulation from the Australian Securities and Investments Commission (ASIC) with AFSL number 424700.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 250Australia

24FX

24FX provides traders with the latest market technology and competitive trading conditions for currencies, indices, stocks and commodities. 24FX provides transparency of the trading environment and a multilingual customer support service, within the framework of the most famous world trading platform MetaTrader4 (MT4). 24FX is regulated by the EU through the Cyprus Securities and Exchange Commission (CySEC) and is authorized to provide services in the EU under license number 207/13.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: No \ Hedging: Yes \ Deposit: $/€/£ - 250Cyprus

IKOFX

IKOFX was founded in 2009 in New Zealand. The broker's headquarters, which is owned by IKO Global Limited, is currently located in Vanuatu. The broker executes orders of clients using Non Dealing Desk technology. He acts as an intermediary that provides customers with direct access to the market. IKOFX has a strong customer base in the Asian market.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:1000 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 1New Zealand

Lucror FX

LucrorFX is a New Zealand-based brokerage company headquartered in Auckland. This broker is a member of the FSCL organization, which resolves disputes between financial companies and their clients in accordance with the laws of New Zealand. Lucror FX provides to trade precious metals in addition to 30 currency pairs on the popular MetaTrader 4 trading platform.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:500 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 50New Zealand

TeleTrade

The TeleTrade group of companies was founded in 1994 and is an international private financial group. TeleTrade-branded companies provide access to derivatives trading services to retail customers around the world. Representative offices of the group of companies and the offices of its representative partners operate in 26 countries.

Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100Russia

FxPrivate

FxPrivate, founded in 2011, specializes in providing brokerage services to individuals in the international Forex currency market. The company is represented in Asia, the Middle East and the Far East, on the territory of the CIS, as well as on the African continent. FxPrivate welcomes news trading, various promotions, as well as trade loss account insurance programs.

Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 10Ukraine

GAINSY

Starting from 2012, specialist have joined forces to create an on-line project GAINSY, generating all the knowledge and skills in order to change the world of Forex for the better and joining together hands with you to make a step into the new era of an honest, transparent and profitable Forex trading, in the era of GAINSY.

Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 10Saint Vincent and the Grenadines

Corsa Capital

The financial group Corsa Capital Investments Corp. has been operating in the financial market since 2007 and has established itself as a reliable partner for traders from all over the world. The Corsa Capital dealing center is registered in the British Virgin Islands and provides services in the Forex currency market and options. Thus, the client concludes trading transactions in the foreign exchange market by purchasing option contracts with a fixed execution date.

Demo: Yes \ Crypto: No \ Social: No \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 1British Virgin Islands

NAS BROKER

Nas Broker is a brand that is part of NAS Technologies Ltd. holding, which provides brokerage services worldwide. The company specializes in the development and implementation of trading services for professional traders and those who want to become them. Regulation of financial activities is carried out under the issued license from the commission of SVGIFSA No. 21969.

Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:100 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 300Saint Vincent and the Grenadines

AlfaTrade

AlfaTrade is a global brand; the company was founded in 2012 and is a provider of the foreign exchange market, providing brokerage services in 150 countries of the world. For a short period of time, the organization has earned an impeccable reputation among both professional and novice users. This is a conservative London ESN broker, which is regulated by UK supervision: FCA, UK.

Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:200 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 500United Kingdom

FXinvesting

FXinvesting company is a large international broker specializing in the Forex market since 2009. The headquarters of the company is located in London, the broker's clients are investors from most countries of the world - the company has an excellent reputation. Starting this year, the FXinvesting trading platform will be the MetaTrader 4 platform, a reliable software product used by many brokers.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100United Kingdom

FXTG

ForexTG (FXTG) provides currency traders with commission-free, tight pip-spreads as well as online real-time market prices. They have strong relationships with the world's leading banks and therefore are able to provide our customers with the most competitive rates around. ForexTG provides their traders with direct access to trade in the foreign exchange market through the world's leading, most advanced, developed and user-friendly online trading platforms: Meta Trader 4.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:300 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 100Australia

FXTG

FXTG is a company that provides various types of financial services and was founded in 1998. The headquarters is located in the USA, in the state of California, and there are also several representative offices in various states, namely in North Carolina and Florida. The company's range of services includes the provision of a huge number of services for both traders and investors to work in the securities markets, foreign exchange markets and more.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 250United States

HiWayFX

HiWayFX is an international online brokerage firm whose aim is to offer top trading conditions and services to traders everywhere. The company was established in 2014 and is based in Cyprus. The broker is working under full legislation and regulation standards by the Cyprus Securities Exchange Commission (CySEC), European regulatory bodies: Markets in Financial Instruments Directive (MiFID) and is also included in the registers of the Federal Financial Supervisory Authority (BaFIN).

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:1000 \ Scalping: Yes \ Hedging: No \ Deposit: $/€/£ - 20Cyprus

IBFX

IBFX was founded in 2001 and since then has firmly established itself in the foreign exchange market as one of the best online brokers. IBFX is a subsidiary of Interbank FX, LLC. - a world-famous broker. It is registered in Australia, the head office is in the same place. There are representative offices in Hong Kong, China, South Africa, Singapore, New Zealand and other countries.

Demo: Yes \ Crypto: No \ Social: Yes \ Leverage: 1:400 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 1Australia

Forex Optimum

Forex Optimum broker was opened in 2009. The company provides the opportunity to trade currencies, contracts for the difference in shares of the US stock exchange and contracts for goods and raw materials on the international financial markets. The broker is regulated by the FSA.

Demo: Yes \ Crypto: Yes \ Social: Yes \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 10Saint Vincent and the Grenadines

3TG Brokers

3TG Brokers is a forex brokerage brand belonging to 3TG FX Financial Ltd Partnership (LP). The company operates both a non-dealing desk and a market maker model of forex brokerage services to its clients. Located in New Zealand, 3TG Brokers is subject to regulation from the Financial Conduct Authority (FCA) with Financial Services Providers registration number FSP244885.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 300New Zealand

10brokers

10Brokers is a broker that offers to trade with such assets as Forex, CFD, commodities, indices, and cryptocurrencies. The company is owned and operated by Euro Wealth OÜ that claims to be based and registered in Tallinn, Estonia. However, we didn’t find any records about 10Brokers being regulated by the Estonian Financial Supervision Authority (EFSA).

Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:500 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 50Estonia

Dax300

DAX300 is an unregulated offshore broker owned by ELRICS Brothers Ltd. located at Suite 305, Griffith Corporate Centre, Beachmont, Box 1510 Kingstown, St. Vincent and the Grenadines. You should definitely avoid any unregulated offshore broker and DAX300 is one of them.

Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:400 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 250Saint Vincent and the Grenadines

365Trading

365Trading has been on the market since 2012. The company is moving to the European continent and, in particular, to the northern regions, serving these countries through a platform and support group, which are managed in 5 of their main languages. 365Trading immediately wanted to influence for all the right reasons and turned to one of the world's leading authorities for help. The company managing the online brokerage company Fidelisco Capital Markets Ltd. is licensed by CySEC and is registered in Cyprus.

Demo: Yes \ Crypto: No \ Social: No \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 50Cyprus

NetoTrade

NetoTrade was registered in UK in 2011 and is an international investment company offering a full range of trading services in the financial markets. NetoTrade provides the ability to trade a wide range of currency pairs, CFDs, stock indices and commodities. NetoTrade is committed to providing the best and highest quality financial market services, as well as diverse, modern, fast and secure trading platforms.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 500United Kingdom

TradingBanks

TradingBanks is a CFDs and Spot Forex contracts trading brand owned and operated by ST World Trade Inc., which is subsidiary to a financial services company authorized and regulated to trade on financial markets including hedging, markets arbitrage, risk management and speculation. The company's goal is to provide a safe trading environment for its customers.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 250Malta

MXTrade

MXTrade is a trading brand owned by Lau Global Services Corporation, a financial services company. MXTrade accesses online trading in the foreign exchange, stock and commodity markets, serving retail and institutional clients in more than 140 countries.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 250Belize

TouchTrades

Touchtrades is a new online brokerage that allows it’s customers to invest in a huge range of different assets all for an extremely competitive price. TouchTrades offer live support and translate their website into Italian, Polish, Spanish and Russian so their customers are not limited to just the UK, Australia, USA and other English speaking countries.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 200United Kingdom

Svit Invest

SvitInvest is an exchange broker that provides traders with access to trading on Ukrainian and foreign stock exchanges using the online trading platform. Svit Invest has been operating in the financial market for 10 years, at the beginning of 2019 it is one of the ten leaders among brokers of the Ukrainian Exchange in terms of trading volume and the number of customers.

Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 100Ukraine

Signs of Dishonest brokers

The list of unfair Blacklist Forex Brokers 2020 is constantly being updated and growing. Thanks to the blacklist, traders can work calmly and not worry about starting cooperation with scammers. To trade on the exchange, you need to carefully monitor and be able to analyze a huge amount of information, follow the news and be aware of all the innovations. By studying the blacklist of Forex brokers, you can avoid many mistakes, and also not become a victim of a site that does not make a profit. Fraud allegations are plagued by virtually every brokerage company. Therefore, not all negativity on the Internet can be trusted. It is important to know some signs of scammers in the Forex market:

  • The promise of high interest from investment services (from 5% per week);
  • Lack of regulators and registration;
  • Create trading simulations, even having access to a real exchange;
  • Trade against the client using trust management;
  • Promises of stable profit for new traders in order to lure a large amount of money;
  • Constant problems with the operation of the terminal - requotes and slippage;
  • Conduct trading within the company between customers;
  • Unpredictable withdrawal of money from deposit without objective reasons.

Signs of Fraudulent Brokers

How does a black broker work? Fraud platforms are built in such a way that traders will eventually lose their funds anyway. They use special quotes, special algorithms, fake price fluctuations and other tricks. Forex frauds who remove unauthorized commissions are more common. They interfere in various ways in the process of trade, provide poor quality services, do not pay income.

There may be fraud with accounts. Intermediaries request personal data of traders by learning information about payment cards. They attract beginners through advertising, where they promise millions of dollars of income to people without appropriate financial knowledge. They can change the password or block the account so that users lose access to their personal account. In addition to negative reviews, verified supporting materials are used in compiling the list.