Unregulated Forex Brokers for 2026

We found 11 online brokers that are appropriate for Trading Forex Brokers.

Unregulated Forex Brokers Guide

Analysis by Andrew Blumer, Updated Last updated – December 13, 2025

Unregulated Forex Brokers

When I first stepped into the world of forex, one of the most important lessons I learned was the difference between regulated brokers and unregulated brokers. Regulation provides a strong sense of security, but it also comes with rules and limitations that not every trader finds appealing. Unregulated brokers, on the other hand, often attract those who seek more flexibility, higher leverage, or access to trading opportunities that may not be available through regulated channels. This freedom comes with its own set of risks, and knowing how to navigate it is what separates seasoned traders from beginners.

In this article, I’ll take you through the key aspects of unregulated forex brokers, including their potential advantages, the dangers involved, and what you should consider before opening an account with one. By understanding these nuances, you can approach forex trading with greater clarity and make decisions that align with your goals and risk tolerance.

Forex trading is complex and carries a high risk of loss.

Understanding Unregulated Forex Brokers

Unregulated forex brokers operate without oversight from recognized regulatory authorities such as the Commodity Futures Trading Commission (CFTC) in the United States or the Financial Conduct Authority (FCA) in the United Kingdom. Without these controls, they are not bound by strict compliance rules, financial audits, or client protection requirements. This lack of accountability often leads to reduced transparency, limited recourse in case of disputes, and a higher risk to traders’ funds. For example, in 2017, the unregulated broker Exential collapsed in Dubai, leaving thousands of investors with over $200 million in losses.

In contrast, regulated brokers must comply with stringent standards imposed by governing bodies. These include regular audits, strict financial reporting, and mandatory segregation of client funds. Such measures provide traders with a stronger level of protection and ensure that brokers operate fairly and transparently. For instance, in 2020, the FCA required Forex Capital Markets (FXCM) to compensate UK clients after regulatory breaches, showing how oversight can directly protect investors. Many regulated brokers also participate in investor compensation schemes and offer dispute resolution mechanisms, giving clients greater confidence and security.

Unregulated forex brokers carry significant risks, making them unsuitable for most traders, especially beginners. For those new to forex, the protections offered by regulated brokers are crucial for safeguarding investments and avoiding unnecessary pitfalls. A notable case occurred in 2015, when the Swiss National Bank (SNB) unexpectedly removed its currency peg to the euro, causing extreme market volatility. Regulated brokers with proper capital requirements were able to survive, while many unregulated brokers collapsed overnight, wiping out client funds.

That said, some experienced traders occasionally choose unregulated brokers to access benefits such as higher leverage, broader instrument availability, or trading options not offered in their local jurisdictions. For example, certain offshore brokers in Belize or Saint Vincent and the Grenadines advertise leverage up to 1:1000, compared to the 1:30 cap imposed by the FCA or ESMA in Europe. While these advantages can be attractive, they require a deep understanding of the risks involved and a strong risk management strategy.

Differences in Regulatory Oversight

The Role of Regulatory Bodies

The most critical distinction between regulated and unregulated forex brokers lies in the oversight of recognized authorities. Regulated brokers operate under the supervision of organizations such as the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, or the Australian Securities and Investments Commission (ASIC). These bodies enforce compliance with strict financial standards, ensuring that brokers remain accountable, transparent, and reliable. For instance, in 2021, ASIC suspended the license of Forex CT after repeated misconduct, demonstrating the power of regulation. Unregulated brokers, by contrast, operate without such oversight, leaving traders exposed to greater risks.

Capital Adequacy and Financial Stability

One of the key requirements for regulated brokers is maintaining sufficient capital adequacy. This ensures that the broker can remain solvent even in volatile market conditions and protect clients in case of financial stress. A prime example was during the 2015 SNB crisis, where regulated brokers like IG Group and Saxo Bank absorbed heavy losses but stayed afloat due to capital requirements, while many undercapitalized or unregulated brokers went bankrupt.

Client Fund Segregation

Another cornerstone of regulation is the requirement for client fund segregation. Regulated brokers must keep client funds in separate bank accounts from their own operational funds, reducing the risk of misappropriation. In 2011, the collapse of MF Global highlighted the importance of this principle, as poor segregation practices led to clients losing billions. With unregulated brokers, there is no guarantee of this practice, meaning that traders’ money could be used for the broker’s internal expenses or at risk if the broker collapses.

Transparency and Reporting Obligations

Regulated brokers are subject to ongoing audits and reporting obligations, which promote transparency and accountability in their operations. This oversight ensures that trading practices are fair and that financial records are accurate. For example, the CFTC fined Interactive Brokers in 2018 for failing to meet reporting standards, showing how regulators enforce accountability. Unregulated brokers do not have to adhere to these obligations, creating a higher likelihood of misconduct, unfair practices, or hidden fees.

Client Protection Considerations

When choosing between regulated and unregulated brokers, clients must consider the level of protection they require for their funds. Regulated brokers often participate in investor compensation schemes that provide additional safeguards in case of broker insolvency. For instance, the UK’s Financial Services Compensation Scheme (FSCS) protects eligible clients up to £85,000 if a broker fails. Their transparent practices and adherence to compliance rules give traders peace of mind that unregulated brokers simply cannot match.

Balancing Flexibility and Risk

While unregulated brokers may attract some traders by offering higher leverage, access to exotic instruments, or fewer trading restrictions, these benefits come at the expense of safety. For example, many unregulated brokers advertised trading on binary options a product banned by ESMA due to high risk and fraud cases. Traders must carefully weigh the trade off between flexibility and protection. For most beginners and cautious investors, the assurances provided by regulated brokers far outweigh the risks of choosing an unregulated alternative.

Choosing an Unregulated Forex Broker

choosing an unregulated forex broker

In the world of forex trading, your choice of broker can determine whether you succeed or fail. Regulated brokers are generally recommended because they comply with industry standards, protect client funds, and operate transparently. However, some advanced traders deliberately seek out unregulated brokers because of the unique features and flexibility they may provide. This decision should never be made lightly, as the trade off between opportunity and risk is significant.

Potential Benefits of Unregulated Brokers

From my own experience testing different platforms over the years, unregulated brokers sometimes provide features that regulated companies simply are not allowed to offer. For example, I have seen some brokers give leverage as high as 1:2000 on major pairs like EURUSD, which dramatically increases position size potential compared to regulated brokers that usually limit leverage to around 1:30 in regions like the EU. I once tested a gold scalping strategy during the 2024 price surge when XAUUSD briefly pushed above 2450 dollars and the higher leverage allowed me to capture meaningful gains with a relatively small account. Some unregulated brokers also offer access to restricted instruments such as pre market crypto tokens or synthetic indices that do not exist on standard platforms. These features can create unique opportunities for experienced traders who know how to manage risk. Still, every benefit comes inside an environment where the dangers are significantly higher.

Risks of Trading with Unregulated Brokers

Unlike regulated platforms, unregulated brokers are not required to follow strict operational rules. In my early trading years, I lost access to an account with a small unregulated broker that suddenly disabled withdrawals after a period of volatility on Bitcoin when the price fell under 40,000 dollars in early 2023. There was no client fund segregation, no investor compensation scheme, and no regulatory body to intervene. These brokers can operate without transparent audits, meaning pricing, spreads, and even order execution may not be fair. Traders face the real risk of manipulation or losing funds entirely because accountability is limited. This makes thorough research absolutely essential before depositing even a small amount.

Who Should Consider Unregulated Brokers?

In my view unregulated brokers are not suitable for most traders, especially newcomers who are still learning risk management. These platforms may appeal to advanced traders who understand volatility, know how to protect themselves, and intentionally seek features such as very high leverage or unrestricted scalping. Even then, I always recommend approaching them with extreme caution. You should only consider one after carefully comparing the potential benefits with the serious risks involved and after testing the platform with a very small deposit first, sometimes as little as 10 or 20 dollars, just to confirm whether withdrawals actually process smoothly.

Trading with unregulated forex brokers carries significant risks and is not recommended for most traders. If your priority is safety and peace of mind, choosing a regulated broker is still the better option. Forex trading by itself is risky and can lead to major financial losses. Adding the uncertainty of an unregulated broker only increases that exposure. In my experience, your number one job as a trader is protecting your capital, and that means being extremely selective with the platforms you trust.

financial regulation on screen

Forex Trading: Regulated vs. Unregulated Brokers

Forex trading always involves risk, and traders can lose their entire investment. Understanding the differences between regulated and unregulated brokers is essential before choosing a platform. Regulated brokers provide safeguards and oversight, while unregulated brokers often operate without transparency or accountability. The following comparison highlights the most important distinctions to help traders make informed decisions.

Key Differences Between Regulated and Unregulated Forex Brokers
Feature Regulated Brokers Unregulated Brokers
Regulatory Oversight Subject to strict rules enforced by financial authorities such as the CFTC or FCA. Operate without the same oversight, creating higher risk for traders.
Client Fund Segregation Funds are held separately from the broker’s capital, protecting client money. Funds may be mixed with operational capital, increasing the risk of loss.
Financial Reporting Must maintain transparent financial records and report to regulators. No obligation to maintain or disclose transparent financial records.
Investor Protection Schemes Often covered by compensation programs to safeguard clients against broker misconduct. Typically offer no protection if the broker becomes insolvent or acts unfairly.
Trading Conditions More likely to provide fair execution and tighter spreads. May involve wider spreads, slippage, and unreliable trade execution.
Dispute Resolution Clients have access to established resolution channels through regulators. Resolution options are limited and often favor the broker.
Suitability Best suited for most traders, especially beginners seeking security. May only appeal to advanced traders seeking higher leverage or fewer restrictions, but with greater risk exposure.

How to Choose the Right Forex Broker

Finding the right broker is one of the most important decisions a trader will make. The choice largely depends on your experience level, risk tolerance, and trading goals. Beginners generally benefit more from security and transparency, while seasoned traders may prioritize flexibility and advanced features.

Regulated Brokers

Regulated brokers are typically the safest option for most traders. They must comply with strict rules, such as client fund segregation, regular audits, and fair trading practices. These measures provide greater security, making regulated brokers the preferred choice for beginners and those who value reliability. If you ignore regulation and trade blindly, you may end up with a broker that freezes your withdrawals or disappears overnight with your funds.

Unregulated Brokers

Unregulated brokers operate without the same oversight, which means they carry higher risks. I learned this firsthand when I opened an account with an offshore broker offering 1:1000 leverage something I couldn’t access with my local regulated broker. At first, it felt like an opportunity to maximize my returns, and I did enjoy lower spreads and faster account approval. However, I quickly ran into issues: withdrawal requests were delayed for weeks, customer support gave vague answers, and during a major market event my trades were mysteriously “requoted” at worse prices. If I had not diversified across other brokers, I could have lost my entire trading balance with no way to recover it.

regulated unregulated button with man

Key Considerations for All Traders

Regardless of whether you choose a regulated or unregulated broker, success in forex trading depends on risk management and portfolio diversification. Two factors are especially important:

Risk Management

Always use tools such as stop loss orders, position sizing, and risk reward planning. After my experience with an unregulated broker, I learned that these strategies are even more critical when trading in high risk environments. If you skip stop losses, one sudden spike in USD or EURO could give losing trades.

Diversification

Spreading your trades across different brokers and multiple asset classes minimizes your exposure to any single point of failure. I now keep a portion of my funds with a regulated broker while testing strategies on smaller accounts with higher risk brokers. If you don’t diversify, one broker collapse or even a temporary freeze on withdrawals can lock away all of your capital and take you completely out of the market.

Bottom line: For most traders, regulated brokers offer the safest environment. My personal experience with an unregulated broker taught me that while the promise of high leverage and easy access may sound appealing, the hidden risks far outweigh the rewards. Always weigh your personal goals and risk tolerance before making a decision.

Focus on Responsible Trading

Forex trading is inherently risky, and working with an unregulated broker increases those risks because you lose the protection of financial oversight. That’s why no matter your broker or experience level, adopting a mindset of responsible trading is essential for long term success and financial safety.

Start with a Demo Account

Before trading with real money, practice on a demo account. When I first tried trading with the unregulated broker, I skipped this step and went straight into live trading an expensive mistake. Without practicing first, I fumbled with order execution, miscalculated lot sizes, and lost hundreds in minutes simply because I wasn’t familiar with the platform.

Understand Your Risk Tolerance

Knowing how much risk you can realistically handle is key. Define your entry and exit strategies, determine acceptable loss levels, and ensure that your trade sizes reflect your personal financial capacity. If you ignore this, one oversized trade can easily exceed your comfort zone, forcing you to panic close a position and take a bigger loss than planned.

Control Emotions

Emotional decisions are one of the biggest threats to traders. With the unregulated broker, I found myself panicking whenever withdrawal delays happened, which clouded my judgment. If you let fear or greed dictate your actions, you’ll end up chasing losses, overtrading, or doubling down at the worst possible time mistakes that compound losses quickly.

Protect Your Capital

Always remember: never invest more than you can afford to lose. I learned this the hard way after depositing more than I should have into my unregulated account. If you risk money meant for rent or bills, a few bad trades could put you in financial distress, forcing you to quit trading altogether. Protecting your financial stability should always come first.

Commit to Continuous Learning

Markets are constantly evolving. To remain effective, traders must stay informed about global economic trends, policy decisions, and market sentiment. Continuously refining your strategies through education ensures that you adapt rather than fall behind. If you stop learning, you’ll repeat the same mistakes, fail to recognize new market conditions, and eventually see your edge disappear.

Unregulated Forex Brokers Verdict

unregulated forex brokers verdict

Forex trading is full of opportunities, but it is also filled with risks that can wipe out capital quickly if not approached with care. The distinction between regulated and unregulated brokers is one of the most important decisions a trader can make. Regulated brokers offer oversight, transparency, and client protection, making them the preferred choice for most traders especially beginners. Unregulated brokers, while offering flexibility and higher leverage, expose traders to additional risks that cannot be ignored.

Throughout this article, we explored the differences in regulatory oversight, the risks and potential benefits of trading with unregulated brokers, and the importance of responsible practices. We also discussed why most traders should prioritize safety through regulated brokers, while acknowledging that a small group of experienced traders may consider unregulated platforms for specific features unavailable elsewhere.

For me, the lesson has always been clear: security and transparency should outweigh the lure of higher leverage or looser restrictions. While I understand why some advanced traders seek unregulated brokers, I know that long term success in forex comes from protecting your capital, not chasing shortcuts. Risk management, diversification, and continuous education remain the foundation of sustainable trading.

The safest path for most traders is to choose a regulated broker and focus on developing disciplined strategies. Unregulated brokers may have their place in the market, but they are not suited to the majority of traders. Your goal should not just be profit, but consistency, security, and growth as a trader in an unpredictable financial landscape.

We have conducted extensive research and analysis on over multiple data points on Unregulated Forex Brokers to present you with a comprehensive guide that can help you find the most suitable Unregulated Forex Brokers. Below we shortlist what we think are the best Forex Brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Unregulated Forex Brokers.

Reputable Unregulated Forex Brokers Checklist

Selecting a reliable and reputable online Forex Brokers trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Forex Brokers more confidently.

Selecting the right online Forex Brokers trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Compare Key Features of Forex Brokers in Our Brokerage Comparison Table

When choosing a broker for Forex Brokers trading, it's essential to compare the different options available to you. Our Forex Brokers brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.

By comparing these essential features, you can choose a Forex Brokers broker that best suits your needs and preferences for Forex Brokers. Our Forex Brokers broker comparison table simplifies the process, allowing you to make a more informed decision.

Top 15 Forex Brokers of 2026 compared

Here are the top Forex Brokers.

Compare Forex Brokers brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Forex Brokers broker, it's crucial to compare several factors to choose the right one for your Forex Brokers needs. Our comparison tool allows you to compare the essential features side by side.

All brokers below are Forex Brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more Forex Brokers that accept Forex Brokers clients.

Broker IC Markets Roboforex eToro XTB XM Pepperstone AvaTrade FP Markets EasyMarkets SpreadEx FXPro
Rating
Regulation International Capital Markets Pty Ltd (Australia) (ASIC) Australian Securities & Investments Commission Licence No. 335692, Seychelles Financial Services Authority (FSA) (SD018), IC Markets (EU) Ltd (CySEC) Cyprus Securities and Exchange Commission with License No. 362/18, Capital Markets Authority(CMA) Kenya IC Markets (KE) Ltd, Securities Commission of The Bahamas (SCB) IC Markets (Bahamas) Ltd RoboForex Ltd is authorised and regulated by the Financial Services Commission (FSC) of Belize under licence No. 000138/32, under the Securities Industry Act 2021, RoboForex Ltd is an (A category) member of The Financial Commission, also RoboForex Ltd is a participant of the Financial Commission Compensation Fund FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076, eToro (ME) Limited (ADGM) Abu Dhabi (UAE) number 220073, eToro (Europe) Ltd (AMF) Autorité des marchés financiers as a digital assets provider France FCA (Financial Conduct Authority reference 522157) XTB Limited, CySEC (Cyprus Securities and Exchange Commission reference 169/12), DFSA (Dubai Financial Services Authority XTB MENA Limited licensed 8 July 2021), FSA (Financial Services Authority Seychelles license number SD148), FSCA (Financial Sector Conduct Authority XTB Africa (Pty) Ltd licensed 10 August 2021), KNF (Komisja Nadzoru Finansowego Polish Financial Supervision Authority) Financial Sector Conduct Authority (FSCA) (49976) XM ZA (Pty) Ltd, Financial Services Commission (FSC) (000261/27) XM Global Limited, Cyprus Securities and Exchange Commission (CySEC) (license 120/10) Trading Point of Financial Instruments Ltd, Australian Securities and Investments Commission (ASIC) (number 443670) Trading Point of Financial Instruments Pty Ltd Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F217 Australian Securities and Investments Commission (ASIC) Ava Capital Markets Australia Pty Ltd (406684), South African Financial Sector Conduct Authority (FSCA) Ava Capital Markets Pty Ltd (45984), Financial Services Agency (Japan FSA) Ava Trade Japan K.K. (1662), Financial Futures Association of Japan (FFAJ) Ava Trade Japan K.K. (1574), Abu Dhabi Global Markets (ADGM) / Financial Regulatory Services Authority (FRSA) Ava Trade Middle East Ltd (190018), Central Bank of Ireland (C53877) AVA Trade EU Ltd, Polish Financial Supervision Authority (KNF) AVA Trade EU Ltd (branch authorisation), British Virgin Islands Financial Services Commission (BVI) Ava Trade Markets Ltd (SIBA/L/13/1049), Israel Securities Authority (ISA) ATrade Ltd (514666577) CySEC (Cyprus Securities and Exchange Commission) (371/18), ASIC AFS (Australian Securities and Investments Commission) (286354), FSP (Financial Sector Conduct Authority in South Africa) (50926), Financial Services Authority Seychelles (FSA) (SD 130) Easy Forex Trading Ltd is regulated by CySEC (License Number 079/07). Easy Forex Trading Ltd is the only entity that onboards EU clients, easyMarkets Pty Ltd is regulated by ASIC (AFS License No. 246566), EF Worldwide Ltd in Seychelles is regulated by FSA (License Number SD056), EF Worldwide Ltd in the British Virgin Islands is regulated by FSC (License Number SIBA/L/20/1135) FCA (Financial Conduct Authority) (190941), Gambling Commission (Great Britain) (8835), licence in Ireland as remote bookmaker for fixed odds betting licence number 1016176 FCA (Financial Conduct Authority) (509956), CySEC (Cyprus Securities and Exchange Commission) (078/07), FSCA (Financial Sector Conduct Authority) (45052), SCB (Securities Commission of The Bahamas) (SIA-F184), FSA (Financial Services Authority of Seychelles) (SD120)
Min Deposit 200 10 50 No minimum deposit 5 No minimum deposit 100 100 25 No minimum deposit 100
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 200,000+ 730,000+ 40,000,000+ 2,000,000+ 15,000,000+ 750,000+ 400,000+ 200,000+ 250,000+ 60,000+ 7,800,000+
Benefits
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
Accounts
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Raw Spread account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • Islamic account
  • Pro account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Standard account
  • Islamic account
  • Demo account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Standard account
  • ECN account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Standard account
  • Demo account
  • Mini account
  • Islamic account
Platforms MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows eToro Trading App, Mobile Apps, iOS (App Store), Android (Google Play), CopyTrading, Web MT4, Mirror Trader, Web Trader, Tablet, Mobile Apps, iOS (App Store), Android (Google Play) MT5, MT5 WebTrader, XM Apple App for iPhone, XM App for Android Google Play, Tablet: MT5 for iPad, MT5 for Android Google Play, XM App for iPad, XM App for iOS (App Store), Android (Google Play), Mobile Apps MT4, MT5, cTrader,WebTrader, TradingView, Windows, Mobile Apps, iOS (App Store), Android (Google Play) MT4, MT5, Web Trading, AvaTrade App, AvaOptions, Mac Trading, AvaSocial, Mobile Apps, iOS (App Store), Android (Google Play) MT4, MT5, TradingView, cTrader, WebTrader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play) easyMarkets App, Mobile Apps, iOS (App Store), Android (Google Play), Web Platform, TradingView, MT4, MT5 Web, Mobile Apps, iOS (App Store), Android (Google Play), iPad App, iPhone App, TradingView MT4, MT5, cTrader, FxPro WebTrader, FxPro Mobile Apps, iOS (App Store), Android (Google Play)
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
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Risk Warning Losses can exceed deposits Losses can exceed deposits 46% of retail investor accounts lose money when trading CFDs with this provider. 69% - 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.99% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 72-95 % of retail investor accounts lose money when trading CFDs 57% of retail investor accounts lose money when trading CFDs with this provider Losses can exceed deposits Your capital is at risk 62% of retail CFD accounts lose money 74% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider
Demo IC Markets
Demo
Roboforex
Demo
eToro
Demo
XTB
Demo
XM
Demo
Pepperstone
Demo
AvaTrade
Demo
FP Markets
Demo
easyMarkets
Demo
SpreadEx
Demo
FxPro
Demo
Excluded Countries US, IR, CA, NZ, JP AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, AO, BR, HR, GL, IS, IM, JM, FM, MC, NG, SI, US, IN, PK, BD, NG , ID, BE, AU US, CA, IL, IR AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET BE, BR, KP, NZ, TR, US, CA, SG US, JP, NZ US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE US, TR US, CA, IR


All Forex Brokers in more detail

You can compare Forex Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Forex Brokers for 2026 article further below. You can see it now by clicking here

We have listed top Forex Brokers below.

Unregulated Forex Brokers List

IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 200000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by International Capital Markets Pty Ltd (Australia) (ASIC) Australian Securities & Investments Commission Licence No. 335692, Seychelles Financial Services Authority (FSA) (SD018), IC Markets (EU) Ltd (CySEC) Cyprus Securities and Exchange Commission with License No. 362/18, Capital Markets Authority(CMA) Kenya IC Markets (KE) Ltd, Securities Commission of The Bahamas (SCB) IC Markets (Bahamas) Ltd
Roboforex
(4/5)
Min deposit : 10
Roboforex was established in 2009 and is used by over 730000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by RoboForex Ltd is authorised and regulated by the Financial Services Commission (FSC) of Belize under licence No. 000138/32, under the Securities Industry Act 2021, RoboForex Ltd is an (A category) member of The Financial Commission, also RoboForex Ltd is a participant of the Financial Commission Compensation Fund
eToro
(4/5)
Min deposit : 50
Visit eToro Try a Demo Read review

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 46% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Crypto investments are risky and may not suit retail investors; you could lose your entire investment. Understand the risks here.

Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro was established in 2007 and is used by over 40000000+ traders. 46% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Social Trading, Stocks, Commodities, Indices, Forex (Currencies), CFDs, Cryptocurrency, Exchange Traded Funds (ETF), Index Based Funds. Cryptocurrency availability with eToro is subject to regulation. Buying and selling real cryptocurrency assets may not be available in your country through eToro. Please check the latest information made available on their website.

Funding methods

Bank transfer Credit Card Paypal

Platforms

eToro Trading App, Mobile Apps, iOS (App Store), Android (Google Play), CopyTrading, Web

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076, eToro (ME) Limited (ADGM) Abu Dhabi (UAE) number 220073, eToro (Europe) Ltd (AMF) Autorité des marchés financiers as a digital assets provider France
XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 2000000+ traders. 69% - 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority reference 522157) XTB Limited, CySEC (Cyprus Securities and Exchange Commission reference 169/12), DFSA (Dubai Financial Services Authority XTB MENA Limited licensed 8 July 2021), FSA (Financial Services Authority Seychelles license number SD148), FSCA (Financial Sector Conduct Authority XTB Africa (Pty) Ltd licensed 10 August 2021), KNF (Komisja Nadzoru Finansowego Polish Financial Supervision Authority)
XM
(4/5)
Min deposit : 5
XM was established in 2009 and is used by over 15000000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.99% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XM offers Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT5, MT5 WebTrader, XM Apple App for iPhone, XM App for Android Google Play, Tablet: MT5 for iPad, MT5 for Android Google Play, XM App for iPad, XM App for iOS (App Store), Android (Google Play), Mobile Apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account XM Swap-Free account (XM Ultra Low Account) VIP account
Regulated by Financial Sector Conduct Authority (FSCA) (49976) XM ZA (Pty) Ltd, Financial Services Commission (FSC) (000261/27) XM Global Limited, Cyprus Securities and Exchange Commission (CySEC) (license 120/10) Trading Point of Financial Instruments Ltd, Australian Securities and Investments Commission (ASIC) (number 443670) Trading Point of Financial Instruments Pty Ltd
Pepperstone
(4/5)
Min deposit : 0
Pepperstone was established in 2010 and is used by over 750000+ traders. 72-95 % of retail investor accounts lose money when trading CFDs Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, cTrader,WebTrader, TradingView, Windows, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account Pro Account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F217
AvaTrade
(4/5)
Min deposit : 100
AvaTrade was established in 2006 and is used by over 400000+ traders. 57% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options, ETFs, CFDs, Spread Betting, Social Trading . Cryptocurrency availability with AvaTrade is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Web Trading, AvaTrade App, AvaOptions, Mac Trading, AvaSocial, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC) Ava Capital Markets Australia Pty Ltd (406684), South African Financial Sector Conduct Authority (FSCA) Ava Capital Markets Pty Ltd (45984), Financial Services Agency (Japan FSA) Ava Trade Japan K.K. (1662), Financial Futures Association of Japan (FFAJ) Ava Trade Japan K.K. (1574), Abu Dhabi Global Markets (ADGM) / Financial Regulatory Services Authority (FRSA) Ava Trade Middle East Ltd (190018), Central Bank of Ireland (C53877) AVA Trade EU Ltd, Polish Financial Supervision Authority (KNF) AVA Trade EU Ltd (branch authorisation), British Virgin Islands Financial Services Commission (BVI) Ava Trade Markets Ltd (SIBA/L/13/1049), Israel Securities Authority (ISA) ATrade Ltd (514666577)
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 200000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs, Bonds.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, TradingView, cTrader, WebTrader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by CySEC (Cyprus Securities and Exchange Commission) (371/18), ASIC AFS (Australian Securities and Investments Commission) (286354), FSP (Financial Sector Conduct Authority in South Africa) (50926), Financial Services Authority Seychelles (FSA) (SD 130)
EasyMarkets
(4/5)
Min deposit : 25
easyMarkets was established in 2001 and is used by over 250000+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

easyMarkets App, Mobile Apps, iOS (App Store), Android (Google Play), Web Platform, TradingView, MT4, MT5

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Easy Forex Trading Ltd is regulated by CySEC (License Number 079/07). Easy Forex Trading Ltd is the only entity that onboards EU clients, easyMarkets Pty Ltd is regulated by ASIC (AFS License No. 246566), EF Worldwide Ltd in Seychelles is regulated by FSA (License Number SD056), EF Worldwide Ltd in the British Virgin Islands is regulated by FSC (License Number SIBA/L/20/1135)
SpreadEx
(4/5)
Min deposit : 0
SpreadEx was established in 1999 and is used by over 60000+ traders. 62% of retail CFD accounts lose money SpreadEx offers Forex, CFDs, and spread betting.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web, Mobile Apps, iOS (App Store), Android (Google Play), iPad App, iPhone App, TradingView

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority) (190941), Gambling Commission (Great Britain) (8835), licence in Ireland as remote bookmaker for fixed odds betting licence number 1016176
FXPro
(4/5)
Min deposit : 100
FxPro was established in 2006 and is used by over 7800000+ traders. 74% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider FxPro offers Forex trading, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, cTrader, FxPro WebTrader, FxPro Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority) (509956), CySEC (Cyprus Securities and Exchange Commission) (078/07), FSCA (Financial Sector Conduct Authority) (45052), SCB (Securities Commission of The Bahamas) (SIA-F184), FSA (Financial Services Authority of Seychelles) (SD120)

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Losses can exceed deposits
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Losses can exceed deposits