Forex Scam Brokers

Forex markets trade trillions of dollars a day. Traders around the globe are always looking for the best broker. 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 or are just licensed by offshore. The easiest way to check a broker’s registration is to look for it at the bottom of the website. Some scam brokers claim to be regulated and registered by a governing body that does not monitor or regulate forex companies.

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. So be careful before choose the forex broker for trading. You can check out out review trusted forex broker for trading.

Forex Scam Brokers List

FortFs

FortFs.com is a Scam broker. Stay away from this broker. The website of fortfs.com including email and phone numbers is not working. Our experts tried to contact FortFs but did not get any feedback. We recommend not to invest in FortFs.com

Most Trusted Regulatory Bodies In Forex Markets

FCA Regulated – Financial Conduct Authority – United Kingdom – (Great)
CySEC Regulated – Cyprus Securities & Exchange Commission – Cyprus (OK)
ASIC Regulated – Australian Securities & Investment Commission – Australia (Good)
SFC Authorized – Securities Futures Commission – Hong Kong (Good)
MAS Authorized – Monetary Authority of Singapore – Singapore (Good)
FSA Authorized – Financial Services Agency – Japan (Good)
IIROC Authorized – Investment Industry Regulatory Organization of Canada – Canada (Good)
FINMA Authorized – Swiss Financial Market Supervisory Authority – Switzerland (Good)
FMA Authorized – Financial Markets Authority – New Zealand (OK)

Forex brokers that are regulated in a major hub are always more trustworthy. Brokers in emerging hubs can also be trustworthy, but caution is warranted. Double check the authority of the governing body that regulates the broker you are looking at. You can go to the website of the governing body to search for the registration number and verify its legitimacy.

Forex Scam Brokers