List of Forex Brokers Banned by Regulators (Unlicensed)

What Is a Forex Broker License?
A forex broker license refers to the permission or authorization granted by financial regulatory bodies to entities or platforms that want to operate as forex brokers. This license is a requirement that must be fulfilled for brokers to legally provide forex trading services to clients.

Financial regulatory bodies are responsible for overseeing and regulating the forex broker industry to protect investor interests and maintain market integrity. Examples of such bodies include the Commodity Futures Trading Regulatory Agency (BAPPEBTI) in Indonesia, the National Futures Association (NFA) in the United States, or the Financial Conduct Authority (FCA) in the United Kingdom.

This license indicates that the broker has met certain financial, ethical, and security standards necessary to operate in the forex industry. It is crucial for forex traders to ensure that the broker they choose has an official license from a recognized regulatory body to safeguard the security and reliability of their transactions.

List of Blacklisted Brokers
The FCA states that companies included in the blacklist may provide financial services or products without authorization from the FCA. Consumers should avoid dealing with these companies and be wary of potential scams.

In the latest blacklist, there are 11 forex brokers without official licenses that have been blacklisted by the FCA in the UK, as follows:

1. FX PRO AI
2. FXravators
3. BGDM
4. ALLTRADERS PIPS
5. Fxorbitaltrade
6. Trade X
7. Bliss Forex
8. Onward Trade Option
9. Wind Forex
10. Expertfxtrade
11. CoinFlux Trades

Forex Broker Data Library
PediaFX’s data library provides comprehensive information on these platform names. Please enter the broker’s name you want to know more about in the forex broker search box on the homepage of the PediaFX application or website.