Brokers to Avoid
Brokers with current regulatory warnings from tier-1 authorities (FCA, ASIC, CySEC) or material unresolved consumer complaints. Every entry references the public regulator record.
Always verify a broker's regulatory status directly through the regulator's public register before depositing. New scam brokers launch faster than any review site can catalogue them.
Capital Street FX
Regulator: FCA · Warning date: 2024-11-14
FCA warning published November 2024: clone firm impersonating an authorised entity. The website used a similar name and contact details to an FCA-authorised broker to mislead UK consumers. Confirm regulator status directly through the FCA register before depositing.
OptionRally
Regulator: CySEC · Warning date: 2023-06-22
CySEC withdrew authorisation in 2023 after multiple unresolved complaints regarding withdrawal delays and unauthorised account activity. The brand continues to appear online under different domain redirects.
Source: https://www.cysec.gov.cy/en-GB/public-info/warnings/
PrimeRate FX
Regulator: ASIC · Warning date: 2025-02-08
ASIC investor warning February 2025: unlicensed firm offering CFD products to Australian residents without an AFSL. Multiple consumer complaints regarding inability to withdraw funds.
Source: https://asic.gov.au/about-asic/news-centre/companies-of-interest/
How to verify a broker yourself
- FCA (UK): Search the broker name at register.fca.org.uk.
- ASIC (AU): Search at connectonline.asic.gov.au.
- CySEC (CY): Search at cysec.gov.cy.
- DFSA (UAE DIFC): Search at dfsa.ae/public-register.
Red flags to watch for
- Domain registered less than 12 months ago, marketing aggressively across social media.
- Regulator licence number that does not match the public register.
- "Guaranteed returns" or "risk-free trading" language — illegal under FCA / CySEC / ASIC rules.
- Withdrawal delays exceeding the broker's stated maximum, with vague explanations.
- Pressure from "account managers" to deposit more capital or take larger positions.
If you have an active dispute with a broker, contact us through the email on the contact page. We log incidents and update our reviews when patterns emerge.