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Fake Forex Brokers List in India 2021

Trading is often considered an investment mode, and Indians are knowledgeable enough about stock and equity trading. However, people in India are not knowledgeable about forex trading, and that is why scam brokers in India are growing to lure traders. Although Indian regulation is strict about foreign exchange trading, forex scam in India has found its way to do their activities. Hence, the traders fall into the trap easily. That is why knowing the fake forex brokers list in India is important so that traders can stay safe by avoiding forex trading scams in India. That being said, we have made a list of forex scams in India to make the traders stay aware of the forex scam in India and keep their investments safe. Read on to get to know the detail of the forex frauds in India.

Is Forex Trading Legal in India?

Since forex trading is still emerging in India, many people don’t know about the legitimacy, so there have been many confusions about whether forex is legal in India. It is both yes and no. Forex trading is legal in India, but the traders should trade via the Securities Exchange Board of India (SEBI) and Reserve Bank of India (RBI) regulated brokers or stock exchanges. Further, Indian traders can trade only those pairs legally that are paired with Indian Rupee (INR). Hence, Euro (EUR), US Dollar (USD), Japanese Yen (JPY), and Great Britain Pound (GBP) can be traded against the INR and vice versa.

Moreover, traders can trade three cross currencies too which include GBP/USD, EUR/USD, and USD/JPY.

But forex trading platforms are banned in India. So, you cannot trade any other currencies except the above-mentioned pairs. But there is still the possibility to trade via different platforms, which is illegal. However, traders will need to use unregulated brokers or persons to trade via those platforms. That is when scam brokers in India emerged. Forex trading scams in India take the benefits of this situation and lure investors.

Fake Forex Brokers List in India: Common Forex Scams in India

fake forex brokers list in indiaAccording to different news sources, the list of forex scams in India follows a similar pattern. They open up a fake company, which is obviously unregulated. They claim that they are experts in forex trading and make promises to give you high returns if you invest with them. They also claim that they have access to the forex trading platform. Since the investors are not allowed to access the forex trading platforms, they trust the fake companies and invest in them with the hope of getting high returns.

After that, scamming occurs. However, sometimes those fake companies may return some profit to gain trust and encourage big investments. So, once the fake companies get a huge amount of money from thousands of investors, they just vanish. That’s how the list of forex scams in India do their forex scam activity.

How to Identify the Scam Brokers in India?

Although we have mentioned the common ways to scam by the fake forex brokers list in India, there are some other ways too. Scammers always change their style and strategy as the commonly known strategies are sometimes known by all. Even though they try a unique scamming strategy, the style remains more or less the same. Let’s get to know them.

Forex Scam in India Offers a Guarantee to Success

Whatever the strategy or policy is, the main point of the forex trading scams in India is to guarantee huge profits. They always provide a guarantee to make a huge profit, which is not possible logically. The forex market is huge and volatile. So, no one can offer a guaranteed profit. Hence, if you see any broker offering such unbelievable profits, that might be a scam.

Unsolicited Marketing

Unsolicited and persistent marketing is another scamming behavior of the forex trading scams in India. If any broker pushes someone to invest or purchase a service within short notice or remain in a hurry, this is a sign of a scam broker. Hence, if you face this kind of urgency, you should avoid it.

No Background Information

Usually, the best forex brokers contain a considerable background to prove themselves as good forex brokers. On the other hand, scam brokers in India don’t have any provable background info. They might show you income screenshots or statements to prove themselves as credible. However, generating such images is easy, but providing actual background proof is not an easy task. So, if the broker doesn’t have any background info, you may identify that as a scam broker.

Scam Brokers List

BrokerWebsiteReason
FX NextGenwww.fxnextgen.comOffshore license
Caliburwww.caliburcapital.netNo license
Titan FXwww.titanfx.comOffshore License
FTE FXwww.ftefxpro.comOffshore License
Prime XBTwww.primexbt.comOffshore License
Traderswaywww.tradersway.comOffshore License
MidasGlobewww.midasglobe.comNo License
Kronosinvestwww.kronosinvest.comNo license
Binomowww.binomo.comOffshore license
Circleforexwww.circleforex.comNo license
First BTC FXwww.firstbtcfx.comNo license
EssenceFXwww.essencefx.comOffshore license
EvisionFXwww.evisionfx.comNo license
RickGlobalwww.rickglobal.comOffshore license
RCM FXwww.rcmfx.comOffshore license
247SmartFxwww.247smartfx.comNo license
Traderiawww.traderia.comOffshore license
FX Options24www.fx-options24.comNo license
JustForexwww.justforex.comOffshore license
TBFXwww.tbfxtrades.comNo license
MGM Marketswww.mgm-markets.comNo license
OlympusMarketswww.olympusmarkets.comOffshore license
Sure Forex Tradewww.sureforextrade.comNo license
CFreservewww.cfreserve.comNo license
Fernwww.fuerfx.comNo license
Capital TradeFXwww.capitaltradefx.comOffshore license
FX PREMIUMwww.fx-premium.comOffshore license
Pari Fx Tradewww.parifxtrade.comOffshore license
InvestTeckwww.investteck.comNo license
Aduno Capitalwww.adunocapital.comNo license
S&P Brokerwww.snpbroker.ioNo license
Capital88www.capital88.comOffshore license
4xincomewww.4xincome.comOffshore license
TopTradeProwww.toptradepro.comOffshore license
Go Capital FXwww.gocapitalfx.comOffshore license
Swiss Investment Fxwww.swissinvestmentfx.comOffshore license
Smartoptionfxwww.smartoptionfx.comNo license
Globalixwww.globalix.comOffshore license
Libra Marketswww.libramarkets.comNo license
Monfexwww.monfex.comOffshore license
iFXOPTIONwww.ifxoption.comNo license
GoldFxTradingwww.web.goldfxtrading.comOffshore license
GoTechFxwww.gotechfx.comOffshore license
Ultrontradefxultrontradefx.comNo license
FXIG Tradeswww.fxigtrades.comNo license
4xpremiumwww.4xpremium.comNo license
TurboForexwww.turboforex.comOffshore license
Swissinv24www.swissinv24.comOffshore license
Golden Key Prowww.goldenkeypro.comOffshore license
UproFxwww.uprofx.comNo license
GoldmanCFDwww.goldmancfd.comOffshore license
GCG Asiawww.guardiancapitalag.asiaNo license
Trade Global Marketwww.tradeglobalmarket.comNo license
AZ Tradeswww.aztrades.comOffshore license
IC Financewww.ic-finance.netOffshore license
69Brokerswww.69brokers.comNo license
TraderURwww.traderur.comOffshore license
WandaFxwww.wandafx.comNo license
SeRex Investmentswww.serexinvestments.comNo license
Tradepro Capitalswww.tradeprocapitals.comOffshore license
KayaFXwww.kayafx.comNo license
PTBancwww.ptbanc.comOffshore license
Millennium FXwww.mnmfx.comOffshore license
Kapitalfxwww.kapitalfx.deNo license
PRIMEXQwww.primexq.comNo license
Obsbitwww.obsbit.comOffshore license
SwiftCFDwww.swiftcfd.comOffshore license
BlueMax Capitalwww.bluemaxcapital.comOffshore license
ItradeFXoptionwww.itradefxoption.comNo license
70Tradeswww.70trades.comOffshore license
Capital Hallwww.capitalhall.comOffshore license
K2 Wall Streetwww.k2wallstreet.comNo license
CapitalFXclubwww.capitalfxclub.comNo license
Worldwide CapitalFXwww.worldwidecapitalfx.comOffshore license
TradeInvest90www.tradeinvest90.comOffshore license
ADN Marketswww.adnmarkets.comOffshore license
Hugoswaywww.hugosway.comOffshore license
Brokerzwww.brokerz.comOffshore license
Trading Epicwww.tradingepic.comNo license
FXNobelswww.fxnobels.ioNo license
Swiss Capital Investwww.swisscapitalinvest.co.ukNo license
Lockwood Investmentswww.lockwoodinv.comOffshore license
CFDpremiumwww.cfdpremium.comOffshore license
MegaTradeFXwww.megatradefx.comOffshore license
ProFxPremiumwww.profxpremium.comOffshore license
Dax300www.dax300.comOffshore license
FXLeaderwww.fxleader.comOffshore license
Blue Tradingwww.bluetrading.comNo License
Olymp Tradeolymptrade.comNo License
Trader.Onlinewww.trader.onlineOffshore license
Ace Forexwww.acefx24.comOffshore license
GxFXhttps://gxfx.comNo License
Forex Grandhttps://forexgrand.comOffshore License
BTCHOMEwww.btchomemining.comOffshore License
FXtrade777www.fxtrade777.comOffshore license
AitsFXwww.aitsfx.comOffshore license
ZeegosFXwww.web.zeegos.onlineOffshore license
Citifxmarketswww.citifxmarkets.comNo license
Finbitexwww.finbitex.comOffshore license
Golden Financialwww.gdfxuk.comNo license
MaxiTradewww.maxitrade.comOffshore license
FXLinkedwww.fxlinked.comOffshore license
Ideal Global Tradingwww.fxideal.comNo license
VolumeFXwww.volumefx.comOffshore license
The55thFxwww.the55thfx.comNo license
KapitalSwisswww.kapitalswiss.comNo license
ZonggangCaifuwww.zgangfx.comNo license
Phy Capital Investments Limitedwww.phyfx.comNo license
eMarketsTradewww.emarketstrade.comNo license
Esplanadehttps://esplanade-ms.comOffshore License
Admiral-Markets.comhttps://www.admiral-markets.comNo License. Clone Firm.
Bex Optionswww.bexoptions.comNo license
Affliated Trade Groupwww.affiliatedtradegroup.comNo license
Kingston Tradinghttps://kingstontrading.comNo License
Wigmarketswww.wigmarkets.comOffshore license
City Global Tradinghttp://www.cityglobaltrading.comNo License
Option94www.option94.comNo License
TheCryptoLimitedhttps://www.thecryptolimited.comNo License
Pro X Financewww.proxfinance.comOffshore license
Circle Marketshttps://circlemarkets.comOffshore license
Pinprotradewww.pinprotrade.comOffshore license
NewSolidwww.newsolid.comNo license
Cointeckwww.cointeck.ioNo license
OneLifewww.onelife.comOffshore license
UKFinvesthttps://www.ukfinvest.comOffshore License
Emporio Tradinghttps://emporiotrading.comOffshore License
EasyTradehttps://www.easytrade.bizNo License
Chrono FMhttps://www.chronofm.comNo License
OMC Marketswww.omcmarkets.comNo License
CFD Trendwww.cfdtrend.comOffshore License
Easy FX Tradewww.easyfxtrade.comNo license
United FCGwww.unitedfcg.comNo license
Financial.orghttps://financial.orgNo License. Negative Reputation.
CCM Clearinghttp://ccmclearing.comNo License
OriginalCryptohttp://www.originalcrypto.comNo License
4xCube4xcube.comOffshore License
Bitalonghttps://www.bitalong.comNo License
Your Trade Choicewww.yourtradechoice.comOffshore license
FinmarkFXwww.finmarkfx.comOffshore license
LiteFinTechwww.litefintech.ioOffshore license
TradeLTDwww.tradeltd.comNo license
ForexChiefhttps://www.forexchief.comOffshore License
KryptoWizehttps://www.kryptowize.comNo License
BigOptionhttps://www.bigoption.comOffshore License
Golden FXwww.golden-fx.comOffshore license
Solidary Markets FXwww.solidarymarkets.comNo license
DCA-Financehttps://dca-finance.comNo License
CryptoNettohttps://cryptonetto.comNo License
Daiju Commodity Marketshttps://www.daiju-cm.comNo License
GWITwww.gwitmarkets.comNo license
Europe Forex Investwww.eufxinvest.comOffshore License
Forex Birdswww.forexbirds.comOffshore License.
Blackstone500www.blackstone500.comNo License
Capoinvestwww.capoinvestgroup.co.ukNo License
Royal GTXwww.royalgtx.comNo License
Premium Brokerswww.the-premium-brokers.netOffshore License
Uptoswww.uptos.netOffshore License
StarkMarketswww.starkmarkets.comNo License. Negative Reputation
Fx Option Trade247www.fxoptiontrade247.comNo License. Clone Firm.
TraderKingwww.traderking.ioOffshore License
AMarketswww.amarkets.comOffshore License
LionsFMwww.lionsfm.comOffshore License
WDC Marketswww.wdcmarkets.comNo License
Royaltd24www.royaltd24.netOffshore License
RoyalsFXwww.royalsfx.coNo License
Spectrewww.spectre.aiOffshore License
Concept4Xwww.concept4x.comOffshore License
FxFixedwww.fxfixed.comNo License
FINMAXwww.finmaxbo.comNo License
Videforexwww.videforex.comOffshore License
MetaFinanceTradewww.metafinancetrade.comNo License
Capital GMAwww.capitalgmafx.comNo License
Finqwww.finq.comOffshore License
SmartFXwww.smartfx.comOffshore License
AAG Marketswww.aagmarkets.comOffshore License
CVC Marketswww.cvcmarkets.comOffshore License
JustProForexwww.justproforex.comOffshore License
GoldenSkyCapitalwww.goldenskycapital.comOffshore License
Swissquoteswww.swissquotes.deNo License
Uniglobe Marketswww.uniglobemarkets.comOffshore License
CobraCFDwww.cobracfd.bizOffshore license
Elite Tradingwww.elitetrading.coNo License
Arum Tradewww.arumtrade.comOffshore License
FXprimewww.fxprime.ioOffshore License
AnyTradeswww.anytrades.comOffshore License
BrighterTradewww.brightertrade.comOffshore license
BK-Coinhttps://bk-coin.com/No license
Capital Tradershttps://www.capital-traders.com/No license
CryptoAllDayhttps://cryptoallday.com/No license
SpearTraderwww.speartrader.comNo license
TegasFXwww.tegaxfx.comOffshore License
Cryptonix Teamhttps://thecryptonixteam.com/No License
Cyber FXhttps://www.cyber-fx.com/No License
MCH Investment Strategieswww.mchinvestment.comNo License
CF Merchantswww.cfmerchants.comOffshore license
OneTradexwww.onetradex.comOffshore license
Evolution Brokerswww.evolutionbrokers.comOffshore license
4xFXwww.4xfx.comNo License
YFX Capitalwww.yfxcapital.comOffshore license
PrimeFXwww.pfx-bank.comNo license
AG Capitalswww.agcapitals.comOffshore license
Aleforexwww.aleforex.comNo license
CarterFSwww.carterfs.comNo license
Option888www.option888.comNo license
Parnassus Groupwww.parnassusgroupllc.comOffshore License
Primewww.hbblmw.comNo license
UBCFXwww.ubcfx.comOffshore License
Zuercher Capitalwww.zuerchercapital.comNo License
CFDStockshttps://www.cfdstocks.com/No License
Aisawww.aisafx.comOffshore license
St Clair Capital Grouphttp://stclaircapitalgroup.com/No License
PBN Tradehttps://pbntrade.com/No License
Morgan Newfieldhttp://www.morgannewfield.com/No License
By Tradinghttp://by-trading.comNo License
GSI Marketswww.gsimarkets.comOffshore license
RichmondFGwww.richmondfg.comNo License
FXmarket247https://fxmarket247.comNo License
Binary Unohttps://www.binaryuno.com/No License
OptionStars Globalhttps://www.optionstarsglobal.com/No License
Goptionshttp://www.goptions.com/No License
Welkronwww.welkron.comOffshore license
XtradeFXhttp://xtradefx.com/No License
Jones Mutualwww.jonesmutual.comNo License
Swift Bit Optionswww.swiftbitoptions.comOffshore license
Rocket Consultant Groupwww.rocketconsultantgroup.comNo license
RCProwww.rcpro.comNo license
Extickwww.extick.comNo license
2dotswww.2dots.comNo license
GSFXhttp://www.gsfx.comNo license
10Brokerswww.10brokers.comNo license
Platinums Tradewww.platinumstrade.comOffshore license
Broker Yardhttp://www.brokeryard.comOffshore license
Shinsei Corporate Managementhttps://www.shinseisecurities.comNo License
Binatexhttps://binatex.com/No License
LottMarkethttps://lottmarket.com/No License
Finparihttp://www.finpari.com/Offshore License
Empire Optionhttps://www.empireoption.com/Offshore License
BeAlgowww.bealgo.comNo license
Noble Capital Househttps://www.noblecapitalhouse.com/No license
SoarFXhttps://www.soarfx.comNo license
OPCompanywww.opcompany.netNo license
Dax-300www.dax-300.comOffshore license
XEcrypto Bankxecryptobank.comNo License
Pearson Investmentshttps://www.pearson-investments.com/No License
Dubai FXMwww.dubaifxm.comOffshore license
Asic Traderwww.asictrader.comNo license
TouchTradeswww.touchtrades.comNo license
CF Groupwww.forexcf.comNo license
Markets Xchangewww.marketsxchange.comOffshore license
NBR Tradinghttps://www.nbrtrading.com/No License
RoyalCriptohttp://royalcripto.com/No License. Negative Reputation
CK Marketsckmarkets.comNo License
TopstepFXwww.topstepfx.comNo License
PlusOptionhttps://www.plusoption.com/No License
Financikawww.financikatrade.comOffshore license
PWRTradewww.pwrtrade.coOffshore license
CriptoRobotcriptorobot.comNo License
Point Investment Grouphttp://www.pointinvestmentgroup.com/No License. Negative Reputation
Ayrexhttps://www.ayrex.comNo License
Fin-Tech Primewww.fin-techprime.comOffshore license
Trade Fintechhttps://tradefintech.com/Offshore License
iMarketsLivehttps://imarketslive.com/No License
Nagaharu Globalhttp://www.nagaharu-global.com/No License
FxtPremiumwww.fxtpremium.comOffshore license
LatAmhttps://www.latam-fx.com/No License
VTGFXwww.vtgfx.comOffshore License
VNC Brokerswww.vncbrokers.comOffshore License
Zend Tradewww.zendtrade.comNo license
OndaMarketswww.ondamarkets.comOffshore license
Inmarket FXwww.inmarketfx.comOffshore license
EyeLinewww.eyelinetrading.comNo License
Shtern Grouphttps://www.shterngroup.com/No License
TIXfxhttp://www.tixfx.com/No License
Invest Traderhttps://investrader.net/No License
Option Experthttps://optionexpert.net/No License
24TradeRushhttp://24traderush.com/Suspended License.
FXBTGwww.fxbtg.co.nzNo license
Easy Line Prowww.easylinepro.comNo license
FX Merchantswww.fxmerchants.comNo license
Trades.comwww.trades.comNo license
TopTradehttps://www.toptrade.fm/No License
TeamFXhttps://www.teamfxtrading.co.uk/No License
HybridReservewww.hybridreserve.comOffshore license
Templer FXwww.templerfx.comOffshore license
Britonpricewww.britonprice.comNo license
WT Capitalwww.wt-capital.comOffshore license
Eminagewww.eminage.comNo License
ECMwww.ecmtrader.comNo License
Tallinexwww.tallinex.comNo License. Negative Reputation
UB4Tradewww.ub4trade.comNo license
Finodaxwww.finodax.comNo license
TradeTorowww.tradetoro.comOffshore license
GMFX24www.gmfx24.comOffshore license
Boom Xchangewww.boomxchange.comNo license
CapitalXPwww.capitalxp.comOffshore license
Roitekshttps://roiteks.com/No License
365 FXwww.365-fx.comOffshore license
LVMexchangewww.lvmexchange.comOffshore license
4xbrandswww.4xbrands.comOffshore license
Big Bosshttps://www.bigboss-financial.com/Offshore license
Pocket Optionhttps://pocketoption.com/Offshore License
PrimeCryptohttps://primecrypto.io/No License
Capital Swiss FXwww.capitalswissfx.comOffshore license
CFDs100www.cfds100.comNo license
Marketsplushttps://marketsplus.com/No license
Novatradeshttps://www.novatrades.com/No license
AMP Tradinghttps://www.novatrades.com/No license
GFCInvestmentwww.amptradinggroup.comOffshore license
FXBreezewww.gfcinvestment.comNo License
CoinbrokerZwww.coinbrokerz.comNo License
Crypto Options Traderwww.crypto-optionstrader.com/No License
TradesFXwww.tradesfx.comOffshore license
Cac400www.cac400.com/No License. Negative Reputation
MT4Investwww.mt4invest.com/No License
UFXwww.ufx.comOffshore License
MPlus Socialwww.mplussocial.comOffshore license
XtraderFXwww.xtraderfx.comNo license
IGOFXwww.igofx.comOffshore license
Vix500https://vix500.com/No License. Negative Reputation
DracoFXwww.dracofx.comNo License
Efexa1000www.efexa1000.comOffshore license
AlphaCapitalwww.alphacapital.capitalNo License
Mib700www.mib700.net/No License. Negative Reputation
Bormancorpwww.bormancorp.comOffshore license
HispaMarketswww.hispamarkets.comOffshore license
RC Global Financialwww.rcglobalfinancial.comOffshore license
Trade111www.trade111.com/No License. Negative Reputation of the Group.
4xpointwww.4xpoint.com/No License.
LittInvestwww.littinvest.comNo License.
XtreamForexwww.xtreamforex.com/No License.
SigmaCFDwww.sigmacfd.comOffshore license
Markets Cubewww.marketscube.comOffshore license
Markets.Onlinewww.markets.onlineNo License
Prestige.FMwww.prestige.fmNo License
FXGIMwww.fxgim.comOffshore license
EuroPrimehttps://www.europrime.com/No License.
AroTradewww.arotrade.comOffshore License
FXPrimeswww.fx-primes.comNo License.
XMarketswww.xmarkets.comNo License.
FXG Investwww.fxginvest.comOffshore license
InvestCitywww.investcity.comNegative Reputation.
Profit Tradewww.profit-trade.comOffshore license
Escuela Tradeswww.escuelatrades.comNo License
Primus Tradeswww.primustrades.comNo license
RaxoFXwww.raxofx.comOffshore license
EFXGlobalwww.efxglobal.comOffshore license
True4Xwww.true4x.comOffshore License.
GDM FXwww.gdmfx.comNo License. Negative Reputation.
Market Investmentwww.marketinvestment.com/Offshore License.
Up4xwww.up4x.comOffshore license
Master4xwww.master4x.comNo license
ECN Capitalwww.ecncapital.comOperates with No License. Negative Reputation.
Caesar Tradehttp://caesar-trade.com/Operates with No License. Negative Reputation.
TradeX1https://tradex1.comOperates with No License
HBC Brokerwww.hbcbroker.comOffshore license
PBN Capitalwww.pbncapital.comNo license
TorOptionwww.toroption.comOperates with No License
CFXPointwww.cfxpoint.com/Operates with No License
InvestingPROwww.investingpro.comOffshore license
RoyalCFDswww.royalcfds.comOffshore license
XLR Tradewww.xlrtrade.comNon Licensed Operation.
ManagedForexHubhttp://managedforexhub.com/Non Licensed Operation.
24StarTradewww.24startrade.comNon Regulated Broker.
31FXwww.31-fx.comOffshore license
365Marketswww.premium.365markets.comNo license
AGAMhttps://atlanticgam.online/No License. Numerous warnings.
Five Windshttps://fivewindsam.com/No License. Numerous warnings.
TitanTradewww.titantrade.comOffshore license
AFX Markets Onlinewww.afxmarketsonline.comOffshore license
Getco Prowww.forex.getcopro.comNo license
BForexwww.bforex.comNo license
MyFintecwww.myfintec.comOffshore license
AlfaTradehttp://alfatrade.com/Offshore License. Negative Reputation.
AAFX Tradingwww.aafxtrading.comOffshore company. Negative Reputation.
CloseOptionwww.closeoption.comLack of Regulation
Capitals Bankswww.capitalsbanks.comNo license
Wise Bancwww.wisebanc.comNo license
HiWayFXhttps://hiwayfx.comSuspended License. Suspicious Operations.
S2Tradewww.s2trade.comOperates with No License
PBN Investwww.pbninvest.comOffshore license
Fxcentralhttp://www.fxcentral.netNo License. Negative Reputation.
Capprofxwww.capprofx.comOperates with No License
Forex Optimumhttps://forexoptimum.comOperates with No License
KontoFXwww.kontofx.comNo license
Forex Swiss FXCHhttp://forex-swiss.comOperates with No License.
ACFXhttp://atlaseforex.comSuspended License. Negative Reputation.
Global Clearing Grouphttp://2pipsforex.comOperates with No License
FinPro Tradinghttps://finprotrading.comOperates with No License
GAINSYwww.gainsy.comOperate without License.
NetoTradewww.netotrade.comOperation with no license. Negative Reputation.
Trade24www.trade-24.comOffshore license
Benchhill Partnerswww.benchhill.chNo license
Markets Brokerwww.marketsbroker.comNo License. Offshore Broker.
Yadixwww.yadix.comNegative Reputation
Trade Capitalwww.tradecapital.comNo license
AAAFxhttps://aaafx.comNumerous complaints.
iFOREXwww.iforex.comNon compliance
TradeDAXwww.tradedax.comOffshore license
GCI Financialwww.gcitrading.comNo License
Opportunity Tradewww.opportunity-trade.comNo License
TopicMarketswww.topicmarkets.comOffshore license
BrokerOfficialwww.brokerofficial.comNo license
Profiforexwww.profiforex.comNo License. Offshore Broker.
FxOnUshttps://fxonus.com/No License
SuperForexwww.superforex.comOffshore license
Bulls Capital Marketswww.bullscapitalmarkets.comNo License.
FreshForexhttps://freshforex.com/No License.
LQDFXwww.lqdfx.comOffshore license
Capital Currency Tradewww.capitalcurrencytrade.comOffshore license
PaxForexhttps://paxforex.comNo License
GFBrokerwww.gfbroker.comOffshore license
FxGlorywww.fxglory.comOffshore license
Trade12www.trade12.comNo License
Fort Financial Serviceswww.fortfs.comLack of Regulation.
Stock Trade Investwww.stocktradeinvest.comNo license
InvestMibwww.investmib.comOffshore license
FxUnitedhttp://fxunitedglobal.comNo License. Scam operations.
Grand Capitalwww.grandcapital.netOffshore license
Capital Markets Banc CMBhttps://capmbeu.comNo License
FXC Marketswww.fxcmarkets.comOffshore license
TGC FXwww.tgcgroupfx.comNo license
Turnkey Forexwww.turnkeyforex.comOffshore License
BECFDwww.becfd.comOffshore license
Swiss Marketswww.global.swissmarkets.comOffshore license
ExpertOptionwww.expertoption.comOffshore License
Royal Capital Prowww.royalcapitalpro.comNo License
CentroBancwww.centrobanc.comOffshore license
Richmond Investingwww.richmondinvesting.comOffshore license
FXGiantswww.fxgiants.comNon Compliance
IronFXwww.ironfx.comNon compliance
KB Capitalswww.kbcapitals.comNo license
Crown Financewww.crown-finance.comOffshore license
IQ Optionhttps://iqoption.com/Non compliance
ForexMartwww.forexmart.comReputation
UniTraderwww.unitrader.comOffshore license
FGS Marketswww.fgsmarkets.comOffshore license
XForexwww.xforex.comOffshore License
72optionwww.72option.comNo license
Banc De Monarchwww.bancdm.ioOffshore license
SGT Marketswww.sgtmarkets.comOffshore license
8888Marketswww.8888markets.comNo license
HQBrokerwww.hqbroker.comOffshore license
FXT24www.fxt24.comNo license
TradesPrimewww.tradesprime.comOffshore license
VFX Capitalwww.vfxcapital.comOffshore license
iForex24www.iforex24.comOffshore license
StarfishFXwww.starfishfx.comNo license
Investexwww.investex.comOffshore license
WorldFXMwww.worldfxm.comOffshore license
GreenFields Capitalwww.greenfieldscapital.comNo license
SimpleFXwww.simplefx.comOffshore license
1000 Extrawww.1000extra.comOffshore license
NordFXwww.nordfx.comOffshore license
Ostrich Capitalwww.ostrichcapital.comNo license
CM Tradingwww.cmtrading.comOffshore license
LMFXwww.lmfx.comOffshore license
Tradeview Forexwww.tradeviewforex.comOffshore license
UMOFXNo license
Gallant Financewww.gallantfinance.comOffshore license
FXChoicewww.myfxchoice.comNo license
TradeFTMwww.tradeftm.comNo license
Stern Marketswww.sternmarkets.comOffshore license
OnlyTradeswww.onlytrades.comNo license
Xinghui InternationalNo license
AVA Investmentswww.ava.investmentsOffshore license
FxFWaywww.fxfway.comOffshore license
TradeBNPwww.tradebnp.comOffshore license
Baihua Globalwww.bfmfx.comNo license
YesTradingwww.yestrading.comOffshore license
FSMSmartwww.fsmsmart.comOffshore license
AccentForexwww.accentforex.comOffshore license
Suisse Trade Centerwww.stcforex.comOffshore license
CMSTraderwww.cmstrader.comOffshore license
FXPremaxwww.fxpremax.comNo license
SwissCCIwww.swisscci.comOffshore license
Axe Investwww.axeinvest.comOffshore license
Forex4Youwww.forex4you.comOffshore license
TradeTimewww.tradetime.comOffshore license
Universe Markets FXwww.universemarketsfx.comNo license
12Traderwww.12trader.comOffshore license
Umarketswww.umarkets.comOffshore license
Utradewww.utrade.onlineNo license
JAFXwww.jafx.comOffshore license
uTraderwww.utrader.comOffshore license
Al Tradewww.alforex.comNo license
10Marketswww.10markets.comOffshore license
Caxton Globalwww.caxtonglobal-fx.netNo license
InstaFX24www.instafx24.comOffshore license
8inFXwww.8infx.comOffshore license
StoxMarketwww.stoxmarket.comOffshore license
TDMarketswww.tdmarkets.comOffshore license
Trade WFXwww.tradewfx.comNo license
Tait Investment Groupwww.taitinvestmentgroup.comNo license
FXG Tradewww.fxgtrade.comOffshore license
SolidCFDwww.solid-cfd.comOffshore license
GCC Investingwww.gccinvesting.comNo license
MarketTMwww.markettm.comNo license
MaxCFDwww.maxcfd.comNo license
BRFX Tradewww.brfxtrade.comOffshore license
Tradovestwww.tradovest.comOffshore license
CFD Corporatewww.cfdcorporate.comNo license
Pro TradeFXwww.protradefx.comOffshore license
Gulf FXwww.gulffx.coNo license
Time4Xwww.time4x.coOffshore license
100XFXwww.100xfx.comOffshore license
CT-Tradewww.ct-trade.comNo license
Everest International Group Ltdwww.everestinter.comNo license
EU-Capitalwww.eu-capital.coOffshore license
Bristol Consulting FXwww.bristolconsultingfx.comNo license
MarketGBPwww.marketgbp.comOffshore license
Tradeu2www.tradeu2.comOffshore license
CFD Royalwww.cfdroyal.comNo license
Meta Investingwww.metainvesting.comOffshore license
Xiaohangjia BrokersOffshore license
ISGXchangeNo license
Get FinancialOffshore license
Broker XPwww.brokerxp.comOffshore license
Oracle-FXwww.tg.oracle-fx.comOffshore license
Primus Forex Financial Groupwww.primusasia.comNo license
Bitex360www.bitex360.comOffshore license
Swiss Assets FXwww.sfmsas.netNo license

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    How to Avoid Scam Brokers in India?

    If you can identify a scam broker, you can avoid them easily. Another best way to avoid a scam broker is to check the fake list of forex scams in India, which is available on this page. We have compiled a huge list of the scam forex trading platforms and brokers here. So, before signing up with a broker, you can check this list and see if your intended broker is listed here. If it is listed here, you should avoid that as they are already proved as scammers.

    Final Words

    Checking the fake forex brokers list in India is the ultimate way to stay away from the forex scam in India. Besides, you may also check the fake broker identifying method we have mentioned in this article. Further, you may also check our online forex brokers reviews to know if a broker is legit or not.

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