Blacklist of Forex and Binary Options Brokers

Forex and binary options represent the side of the financial market where clients are often deceived — and on a large scale. Of course, the problem isn’t the market itself, but dishonest and fraudulent brokers.

The blacklist includes companies that refuse to return funds, engage in manipulative and fraudulent practices when processing orders or managing traders’ accounts, or simply shut down and disappeared with clients' money.

Many brokers on the list have closed down, but either conveniently "forgot" or deliberately chose not to return their clients' funds. Unfortunately, in over two decades of experience in the markets, we have never seen a Forex broker shut down and return money to all of its clients. The only exception is when one broker acquires another and client deposits are transferred to the new company’s balance sheet.

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The rise in the number of fraudulent brokers is largely due to the lack of proper regulation in the Forex and binary options markets. There are plenty of so-called regulators, especially in offshore jurisdictions, but in reality, they offer no real protection in cases of broker fraud.

A blacklist is not a cure-all for dishonest companies — especially since most dealing centers end up on it only after they've already shut down. However, the list also includes brokers that are still operating but have already stopped paying out funds. Stay alert and cautious!

Blacklist

Brokers in the blacklist are listed in alphabetical order.

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# Broker Broker Logo Reason for Being Blacklisted
AGEA agea The broker has closed
BFB Capital BFB Capital Closed
Binary Binary Closed
Bolmax Management bolmax The broker has closed
Bulltraders Bulltraders The broker has closed
City Credit Capital City Credit Capital Closed
Esplanade MS Esplanade MS Scammer
EverFX everfx Closed
FINEXO finexo The broker has closed
FinmaxFX FinmaxFX The broker is a scammer
Forex Optimum Forex Optimum The broker has closed
FSMSmart fsmsmart Closed
FX-Invest FX-Invest The broker is a scammer
FXPrivate FXPrivate The broker closed and did not return the money to traders
FxFinance fxfinance The broker is a scammer
FXOptimax fxoptimax The broker has closed
GKFX GKFX The broker has closed
Hamilton Hamilton Stopped paying and closed
Larson Holz larson-holz The broker is a scammer
MTBankFX MTBankFX The broker has closed
OpenFX OpenFX The broker has closed
PCM Brokers pcm Closed
ProFinance ProFinance The broker has closed
PROFIT Group PROFIT Group The broker is a scammer
Renesource Capital renesource The broker has closed
ROinvesting ROinvesting Closed
Swiss Markets Swiss Markets The broker has closed
Technobank technobank The bank stopped providing forex services
Tifia Tifia Closed
TMS Brokers tms brokers The broker was acquired by OANDA
TopForex TopForex Scammer
TradeLTD tradeltd Scammer
TusarFX tusarfx Closed
UFX ufx The broker has closed
24option 24option Closed
770capital 770capital Scammer
ACFX ACFX Disappeared with all clients' money
Adamant Finance Adamant Finance Closed
Anyoption Anyoption The broker has closed
Arotrade Arotrade The broker is a scammer
Banc De Binary Banc De Binary The broker is a scammer
BINEX BINEX The company was arrested by the police for conducting fraudulent activities
CapitalXP capitalxp The broker has closed
CentroFX CentroFX Closed
Corsa Capital Corsa Capital The broker has closed
Dealing City Dealing City The broker has closed
Dragon Options Dragon Options Stopped paying and closed
FinForce finForce Scammer
Forex Market Forex Market Disappeared along with clients' money
Forex Trend Forex Trend The broker closed and did not return the money to traders
Fort Financial Services fortfs The broker has closed
FXB Trading fxb trading The broker is a scammer
FxGen FxGen Closed
FXLinked fxlinked Closed
GAINSY gainsy The broker has closed
GLOBAL FX GLOBAL FX The broker has closed
HQBroker HQBroker The company is arrested by the police
Imperial Global Markets imperial gm The broker is a scammer
Kalita-Finance Kalita-Finance Closed
Lionstone Lionstone The broker closed and did not return the money to traders
Markets Invest markets-invest The broker is a scammer
MaxiForex MaxiForex Closed
MFX Broker MFX Broker Disappeared with all clients' money
Miki Forex Miki Forex The broker has disabled the website
MRC Markets MRC Markets Disappeared with clients' money
NAS Broker NAS Broker The broker is a scammer
NewForex NewForex NewForex was bought by Forexmart broker. NewForex client deposits transferred to Forexmart broker
Opteck Opteck The broker is a scammer
Optimus Markets optimus-markets The broker has closed
OptionBit OptionBit Closed
OptionFair OptionFair The broker has closed
OptionRally OptionRally The broker has closed
Panteon Finance Panteon Finance The broker closed and did not return the money
PSB-Forex psb-forex The broker has closed
RBFXpro rbfxpro The broker closed and did not return the money
RVD Markets RVD Markets The broker closed and did not return the money
Stockpair Stockpair Closed
TopOption TopOption Scammer
Trade12 trade12 The company is arrested by the police
TradeFred TradeFred Scammer
TR Binary Options TR Binary Options The broker has closed
Trendex trendex The broker is a scammer
TurboForex turboforex The broker is a scammer
Univell Broker Univell Broker Closed
USGFX usgfx Closed
uTrader uTrader The broker is a scammer
VerumFX VerumFX The broker is a scammer
VulkanTrade VulkanTrade The broker disappeared along with the money
YA-HI ya-hi Scammer

Comments

kiliman
kiliman 2025-08-04 14:14:55 #
The broker SGFX is annoying with intrusive advertising. This is typical behavior of fly-by-night companies that aim to make quick money and disappear. Be cautious!
Mei
Mei 2025-07-24 05:33:05 #
Half of all brokers can safely be blacklisted. They are all fraudsters. They help drain your account, even if you trade on your own. They create such conditions for intraday traders that losing your account is almost guaranteed.
Jane
Jane 2025-03-28 10:00:45 #
TopForex are scammers. They trick you into depositing money, but you won’t be able to withdraw anything.
Andrew
Andrew 2023-12-02 21:46:10 #
I’m convinced that in the end, all forex brokers will turn out to be scammers. Sooner or later, any company will have to shut down, and I don’t believe anyone will return traders’ money before closing.
az
az 2022-11-23 10:40:34 #
Both JCXBroker and BirTrade turned out to be scammers. The former has already shut down their website, while the latter disabled deposits via bank cards (to prevent chargebacks), leaving only a crypto wallet. I lost money with both — there’s simply no way to withdraw.
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