Is Your Broker Safe?
Search any broker to check their regulation status, trust score, and safety record. Protect yourself from scam brokers before investing.
5Trusted Brokers
0Flagged Brokers
5Total Checked
IC Markets
Trusted
ASICCySECFSA SeychellesSCB Bahamas
Investor ProtectionUp to €20,000 (CySEC entity)
Provides a wide selection of assets
A variety of platforms are available
Tight spreads
Well-regulated and therefore proven official
Debit and credit cards are available as payment methods
Limited market analysis
High minimum deposit
Withdrawal restrictions
IC Markets' MetaTrader has limitations in design and functionality
Limited product offerings
Pepperstone
Trusted
ASICFCACySECBaFinDFSASCBCMA
Investor ProtectionUp to $20,000
Regulated by top-tier authorities (FCA, ASIC), increasing trust and security
Competitive pricing with low spreads, especially on Razor accounts
Supports multiple platforms: MT4, MT5, and cTrader
Fast execution suitable for scalping and algorithmic trading
stablished broker (founded in 2010) with strong industry reputation
Investor protection varies depending on the regulatory entity
No deposit bonuses due to regulatory restrictions
Limited crypto trading options compared to some competitors
No guaranteed stop-loss for all clients
May not be the most beginner-friendly for absolute new traders
OANDA
Trusted
FCAASICCFTCNFACIROMAS
Investor ProtectionUp to £85,000 (UK entity)
Top-tier regulation in 5 major jurisdictions
Transparent execution
No minimum deposit required
Accepts US traders with full NFA/CFTC compliance
MT4 support with a premium indicator package
MT5 is not available for US clients
Instruments are limited to precious metals and forex for US traders
$10/month inactivity fee for one year of inactivity
Standard spreads are above average compared to ECN-focused brokers
Requires a minimum deposit of $10,000 on core pricing
XM Broker
Trusted
ASICCySECIFSCDFSA
Investor ProtectionUp to €20,000 (CySEC entity)
High leverage (up to 1:1000)
Low XM minimum deposits and withdrawals
Excellent MetaTrader 4 and MetaTrader 5 support
Standard accounts, no commissions or spreads
Support in almost 30 languages
Wider spreads on standard accounts than ECN brokers
Inactivity fees apply if inactivity is detected for 90 days
Client features and protections depend on location
Withdrawals can take up to 5 business days
Cryptocurrency CFDs are not available
Exness
Trusted
FCA (UK)CySEC (EU)FSCA
Investor ProtectionUp to €20,000 (CySEC entity)
A transparent fee structure and low spreads, especially on the Zero and Raw Spread accounts, are attractive to active traders.
This broker supports various trading platforms, including MT4, MT5, WebTrader, and mobile apps.This provides flexible access from various devices.
Instrument diversification allows traders to manage risk effectively.
Low deposits make it easy for beginner traders to start trading without large capital.
High and guaranteed security.
The complexity of account types can be confusing for new traders.
Educational features may not be as comprehensive as some competitors that focus on in-depth learning.
The higher minimum deposit for Zero, Raw Spread, and Pro accounts can be prohibitive for traders with limited capital.
Some CFD instruments are also restricted in certain regions.
Furthermore, high leverage can increase risks for inexperienced traders.
How to Spot a Scam Broker
1
Check Regulation
Legitimate brokers are regulated by top-tier authorities like FCA, SEC, ASIC, or CySEC.
2
Verify Track Record
Look for brokers with a long operating history and no major regulatory fines or sanctions.
3
Avoid Guarantees
No legitimate broker promises guaranteed returns. If it sounds too good to be true, it probably is.
4
Test Withdrawals
Start with a small deposit and test the withdrawal process before committing larger amounts.