AuthorBy Björn Michels
Updated: November 18, 2022

This broker directory is an alphabetical listing CFD brokers we believe traders should avoid.

The most common reasons for not recommending a broker are a lack of suitable regulation. The specific reasons for our disapproval are detailed on each broker review page along with some data and information about the broker.

We encourage traders to use this directory to verify whether a broker is considered trustworthy. If you find that we do not recommend your broker, then please use our lists to find a more suitable broker in our State of the Market report.

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Overall Rating
Regulation
Read Review
Min. Deposit
Trading Cost
Leverage
Trading Desk Type
2.87
USD 5
USD 10
400:1
Market Maker
3.48
USD 100
USD 8
2000:1
Market Maker
1.86
USD 5
USD 105
100:1
Market Maker
2.67
USD 100
USD 30
500:1
STP
3.28
USD 100
USD 18
100:1
Market Maker
2.09
USD 5
USD 100
-
Market Maker
2.52
USD 50
USD 14
200:1
ECN/DMA
2.67
USD 200
USD 15
50:1
ECN/DMA
2.98
USD 100
USD 10
200:1
ECN/DMA
2.72
USD 100
USD 100
500:1
ECN/DMA
3.12
USD 50
USD 19
1000:1
ECN/STP
2.68
USD 50
USD 5
500:1
ECN/DMA
2.63
USD 5
USD 17
500:1
ECN/DMA
2.97
USD 5
USD 13
1000:1
Market Maker
2.65
USD 5
USD 20
2000:1
ECN/DMA
3.03
USD 1
USD 20
3000:1
Market Maker NDD
3.07
USD 5
USD 16
500:1
ECN/DMA
Market Maker
2.59
USD 100
USD 10
1000:1
Market Maker
2.95
USD 1
USD 5
30:1
Market Maker
2.95
USD 500
USD 5
100:1
STP
2.77
USD 100
USD 30
500:1
STP
2.87
USD 10
USD 17
500:1
STP
2.09
USD 10
USD 13
500:1
ECN/STP
2.62
USD 1
USD 20
1000:1
Market Maker
2.68
USD 10
USD 8
1000:1
Market Maker
2.78
USD 1
USD 22
200:1
Market Maker
2.83
USD 0
USD 8
30:1
Market Maker
3.40
USD 300
USD 6
500:1
Market Maker
2.92
USD 50
USD 12
1000:1
Market Maker
2.67
USD 20
USD 12
500:1
STP
3.15
USD 250
USD 100
400:1
Market Maker
2.77
USD 1000
USD 6.50
100:1
STP
3.25
USD 100
USD 18
500:1
ECN/STP
3.28
USD 10
USD 4
1000:1
STP
2.52
USD 300
USD 30
50:1
ECN/DMA
2.67
USD 5
USD 100
1000:1
Market Maker
2.53
USD 250
USD 22
500:1
Market Maker
3.28
USD 10
USD 8
500:1
ECN/STP
2.50
USD 10000
USD 100
100:1
ECN/STP
2.72
USD 0
USD 0
500:1
STP
3.20
USD 10
USD 21
1000:1
ECN/STP
2.85
USD 5
USD 5
1000:1
ECN/DMA
2.97
USD 250
USD 7
500:1
ECN/STP
2.67
USD 25
USD 15
1000:1
STP

 

Regulator Warning List

This is a constantly updated list of all fraudulent investment companies and scam brokers identified by regulators across the globe. If you have concerns, we strongly encourage you to search this list to verify that the broker you are considering doing business with isn’t listed here. If the broker you are searching for is on this list, you should stay away and select a more suitable broker.

Regulators add firms to this list as soon as possible, but it’s not exhaustive. Don’t assume a firm is legitimately authorised or registered just because it doesn’t appear on this list. Fraudulent investment firms and scam brokers frequently change their names, and they may not have been reported to a regulator yet.

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Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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