Fake Forex Brokers List in Nigeria 2023
It is well known that the forex market is highly volatile, and because of that, scammers are always active in forex to scam investors. And African countries such as Nigeria are known for their scamming activities and scam brokers in Nigeria are growing. Nevertheless, people are aware of this situation, but forex scams in Nigeria are always innovative when it comes to scamming. That is why sometimes traders find it difficult to know if a broker is legit or a scam. And during that time, knowing about the fake forex brokers list in Nigeria will be helpful. Nevertheless, knowing the list of scammers will help the traders to avoid forex trading scams in Nigeria. That’s why we have made a comprehensive list of forex scams in Nigeria, which will help investors stay away from those brokers. Read on to know the fake forex brokers list in Nigeria.
Is Forex Trading Legal in Nigeria?
Trading forex is legal in Nigeria, and brokers operating in Nigeria are required to follow the regulations and guidelines imposed by the government. However, unlike other countries in the world, such as the UK or the USA, forex in Nigeria is not highly regulated. But the fact is that forex is getting popular amongst the citizens of Nigeria.
The Central Bank of Nigeria usually regulates the forex in Nigeria, and forex brokers need to maintain some specific criteria to operate there. However, scam brokers in Nigeria don’t follow any regulatory rules. So, if you know about such forex scams in Nigeria, which are provided on this page, you can easily save yourself from scammers.
How to Identify the Forex Trading Scams in Nigeria?
To identify the scammers in Nigeria, you may need to go through a lot of validation processes via list of forex scams in Nigeria which is eventually time-consuming. But there is a good and easy way to get to know the Nigerian forex scammers, and it is looking at the fake forex brokers list in Nigeria, which we have enlisted here in this article. Nonetheless, scammers follow a pattern through which you can recognize a scam broker.
Forex Scam in Nigeria Provide a Guarantee to Success
Scam brokers across the world tend to offer unrealistic success, perhaps high returns. Logically, providing a guarantee of earning from forex is impossible as the forex industry is volatile, and price can move in every second. Hence, providing a guarantee to success should not be possible. So, any Nigerian broker offering such a guarantee should be counted as a scam even if they are regulated.
Don’t have Any History
Normally a legit best forex broker has credible background info, which can impress any investors. On the other hand, the scam brokers in Nigeria cannot provide any background data of the company as they don’t have any. When it comes to proving their claims, they tend to provide fake statements or screenshots of their earning. So, when you ask them to provide any live trading info with a huge return, they might not be able to show any. Therefore, if you come across any broker with no background info, you may consider that as a scam broker.
Fake Forex Brokers List in Nigeria: Unwanted Marketing
If any forex broker does any sort of aggressive marketing, there is a huge possibility that the broker is a scam. The scammers often tend to push the traders to take their offer. Sometimes they remain in a hurry and don’t provide any time to think about the offer, which represents a sign of a scammer. So, any such urgency should be avoided.
Scam Brokers List
Broker | Website | Reason |
---|---|---|
FX NextGen | www.fxnextgen.com | Offshore license |
Calibur | www.caliburcapital.net | No license |
Titan FX | www.titanfx.com | Offshore License |
FTE FX | www.ftefxpro.com | Offshore License |
Prime XBT | www.primexbt.com | Offshore License |
Tradersway | www.tradersway.com | Offshore License |
MidasGlobe | www.midasglobe.com | No License |
Kronosinvest | www.kronosinvest.com | No license |
Binomo | www.binomo.com | Offshore license |
Circleforex | www.circleforex.com | No license |
First BTC FX | www.firstbtcfx.com | No license |
EssenceFX | www.essencefx.com | Offshore license |
EvisionFX | www.evisionfx.com | No license |
RickGlobal | www.rickglobal.com | Offshore license |
RCM FX | www.rcmfx.com | Offshore license |
247SmartFx | www.247smartfx.com | No license |
Traderia | www.traderia.com | Offshore license |
FX Options24 | www.fx-options24.com | No license |
JustForex | www.justforex.com | Offshore license |
TBFX | www.tbfxtrades.com | No license |
MGM Markets | www.mgm-markets.com | No license |
OlympusMarkets | www.olympusmarkets.com | Offshore license |
Sure Forex Trade | www.sureforextrade.com | No license |
CFreserve | www.cfreserve.com | No license |
Fern | www.fuerfx.com | No license |
Capital TradeFX | www.capitaltradefx.com | Offshore license |
FX PREMIUM | www.fx-premium.com | Offshore license |
Pari Fx Trade | www.parifxtrade.com | Offshore license |
InvestTeck | www.investteck.com | No license |
Aduno Capital | www.adunocapital.com | No license |
S&P Broker | www.snpbroker.io | No license |
Capital88 | www.capital88.com | Offshore license |
4xincome | www.4xincome.com | Offshore license |
TopTradePro | www.toptradepro.com | Offshore license |
Go Capital FX | www.gocapitalfx.com | Offshore license |
Swiss Investment Fx | www.swissinvestmentfx.com | Offshore license |
Smartoptionfx | www.smartoptionfx.com | No license |
Globalix | www.globalix.com | Offshore license |
Libra Markets | www.libramarkets.com | No license |
Monfex | www.monfex.com | Offshore license |
iFXOPTION | www.ifxoption.com | No license |
GoldFxTrading | www.web.goldfxtrading.com | Offshore license |
GoTechFx | www.gotechfx.com | Offshore license |
Ultrontradefx | ultrontradefx.com | No license |
FXIG Trades | www.fxigtrades.com | No license |
4xpremium | www.4xpremium.com | No license |
TurboForex | www.turboforex.com | Offshore license |
Swissinv24 | www.swissinv24.com | Offshore license |
Golden Key Pro | www.goldenkeypro.com | Offshore license |
UproFx | www.uprofx.com | No license |
GoldmanCFD | www.goldmancfd.com | Offshore license |
GCG Asia | www.guardiancapitalag.asia | No license |
Trade Global Market | www.tradeglobalmarket.com | No license |
AZ Trades | www.aztrades.com | Offshore license |
IC Finance | www.ic-finance.net | Offshore license |
69Brokers | www.69brokers.com | No license |
TraderUR | www.traderur.com | Offshore license |
WandaFx | www.wandafx.com | No license |
SeRex Investments | www.serexinvestments.com | No license |
Tradepro Capitals | www.tradeprocapitals.com | Offshore license |
KayaFX | www.kayafx.com | No license |
PTBanc | www.ptbanc.com | Offshore license |
Millennium FX | www.mnmfx.com | Offshore license |
Kapitalfx | www.kapitalfx.de | No license |
PRIMEXQ | www.primexq.com | No license |
Obsbit | www.obsbit.com | Offshore license |
SwiftCFD | www.swiftcfd.com | Offshore license |
BlueMax Capital | www.bluemaxcapital.com | Offshore license |
ItradeFXoption | www.itradefxoption.com | No license |
70Trades | www.70trades.com | Offshore license |
Capital Hall | www.capitalhall.com | Offshore license |
K2 Wall Street | www.k2wallstreet.com | No license |
CapitalFXclub | www.capitalfxclub.com | No license |
Worldwide CapitalFX | www.worldwidecapitalfx.com | Offshore license |
TradeInvest90 | www.tradeinvest90.com | Offshore license |
ADN Markets | www.adnmarkets.com | Offshore license |
Hugosway | www.hugosway.com | Offshore license |
Brokerz | www.brokerz.com | Offshore license |
Trading Epic | www.tradingepic.com | No license |
FXNobels | www.fxnobels.io | No license |
Swiss Capital Invest | www.swisscapitalinvest.co.uk | No license |
Lockwood Investments | www.lockwoodinv.com | Offshore license |
CFDpremium | www.cfdpremium.com | Offshore license |
MegaTradeFX | www.megatradefx.com | Offshore license |
ProFxPremium | www.profxpremium.com | Offshore license |
Dax300 | www.dax300.com | Offshore license |
FXLeader | www.fxleader.com | Offshore license |
Blue Trading | www.bluetrading.com | No License |
Trader.Online | www.trader.online | Offshore license |
Ace Forex | www.acefx24.com | Offshore license |
GxFX | https://gxfx.com | No License |
Forex Grand | https://forexgrand.com | Offshore License |
BTCHOME | www.btchomemining.com | Offshore License |
FXtrade777 | www.fxtrade777.com | Offshore license |
AitsFX | www.aitsfx.com | Offshore license |
ZeegosFX | www.web.zeegos.online | Offshore license |
Citifxmarkets | www.citifxmarkets.com | No license |
Finbitex | www.finbitex.com | Offshore license |
Golden Financial | www.gdfxuk.com | No license |
MaxiTrade | www.maxitrade.com | Offshore license |
FXLinked | www.fxlinked.com | Offshore license |
Ideal Global Trading | www.fxideal.com | No license |
VolumeFX | www.volumefx.com | Offshore license |
The55thFx | www.the55thfx.com | No license |
KapitalSwiss | www.kapitalswiss.com | No license |
ZonggangCaifu | www.zgangfx.com | No license |
Phy Capital Investments Limited | www.phyfx.com | No license |
eMarketsTrade | www.emarketstrade.com | No license |
Esplanade | https://esplanade-ms.com | Offshore License |
Admiral-Markets.com | https://www.admiral-markets.com | No License. Clone Firm. |
Bex Options | www.bexoptions.com | No license |
Affliated Trade Group | www.affiliatedtradegroup.com | No license |
Kingston Trading | https://kingstontrading.com | No License |
Wigmarkets | www.wigmarkets.com | Offshore license |
City Global Trading | http://www.cityglobaltrading.com | No License |
Option94 | www.option94.com | No License |
TheCryptoLimited | https://www.thecryptolimited.com | No License |
Pro X Finance | www.proxfinance.com | Offshore license |
Circle Markets | https://circlemarkets.com | Offshore license |
Pinprotrade | www.pinprotrade.com | Offshore license |
NewSolid | www.newsolid.com | No license |
Cointeck | www.cointeck.io | No license |
OneLife | www.onelife.com | Offshore license |
UKFinvest | https://www.ukfinvest.com | Offshore License |
Emporio Trading | https://emporiotrading.com | Offshore License |
EasyTrade | https://www.easytrade.biz | No License |
Chrono FM | https://www.chronofm.com | No License |
OMC Markets | www.omcmarkets.com | No License |
CFD Trend | www.cfdtrend.com | Offshore License |
Easy FX Trade | www.easyfxtrade.com | No license |
United FCG | www.unitedfcg.com | No license |
Financial.org | https://financial.org | No License. Negative Reputation. |
CCM Clearing | http://ccmclearing.com | No License |
OriginalCrypto | http://www.originalcrypto.com | No License |
4xCube | 4xcube.com | Offshore License |
Bitalong | https://www.bitalong.com | No License |
Your Trade Choice | www.yourtradechoice.com | Offshore license |
FinmarkFX | www.finmarkfx.com | Offshore license |
LiteFinTech | www.litefintech.io | Offshore license |
TradeLTD | www.tradeltd.com | No license |
ForexChief | https://www.forexchief.com | Offshore License |
KryptoWize | https://www.kryptowize.com | No License |
BigOption | https://www.bigoption.com | Offshore License |
Golden FX | www.golden-fx.com | Offshore license |
Solidary Markets FX | www.solidarymarkets.com | No license |
DCA-Finance | https://dca-finance.com | No License |
CryptoNetto | https://cryptonetto.com | No License |
Daiju Commodity Markets | https://www.daiju-cm.com | No License |
GWIT | www.gwitmarkets.com | No license |
Europe Forex Invest | www.eufxinvest.com | Offshore License |
Forex Birds | www.forexbirds.com | Offshore License. |
Blackstone500 | www.blackstone500.com | No License |
Capoinvest | www.capoinvestgroup.co.uk | No License |
Royal GTX | www.royalgtx.com | No License |
Premium Brokers | www.the-premium-brokers.net | Offshore License |
Uptos | www.uptos.net | Offshore License |
StarkMarkets | www.starkmarkets.com | No License. Negative Reputation |
Fx Option Trade247 | www.fxoptiontrade247.com | No License. Clone Firm. |
TraderKing | www.traderking.io | Offshore License |
AMarkets | www.amarkets.com | Offshore License |
LionsFM | www.lionsfm.com | Offshore License |
WDC Markets | www.wdcmarkets.com | No License |
Royaltd24 | www.royaltd24.net | Offshore License |
RoyalsFX | www.royalsfx.co | No License |
Spectre | www.spectre.ai | Offshore License |
Concept4X | www.concept4x.com | Offshore License |
FxFixed | www.fxfixed.com | No License |
FINMAX | www.finmaxbo.com | No License |
Videforex | www.videforex.com | Offshore License |
MetaFinanceTrade | www.metafinancetrade.com | No License |
Capital GMA | www.capitalgmafx.com | No License |
Finq | www.finq.com | Offshore License |
SmartFX | www.smartfx.com | Offshore License |
AAG Markets | www.aagmarkets.com | Offshore License |
CVC Markets | www.cvcmarkets.com | Offshore License |
JustProForex | www.justproforex.com | Offshore License |
GoldenSkyCapital | www.goldenskycapital.com | Offshore License |
Swissquotes | www.swissquotes.de | No License |
Uniglobe Markets | www.uniglobemarkets.com | Offshore License |
CobraCFD | www.cobracfd.biz | Offshore license |
Elite Trading | www.elitetrading.co | No License |
Arum Trade | www.arumtrade.com | Offshore License |
FXprime | www.fxprime.io | Offshore License |
AnyTrades | www.anytrades.com | Offshore License |
BrighterTrade | www.brightertrade.com | Offshore license |
BK-Coin | https://bk-coin.com/ | No license |
Capital Traders | https://www.capital-traders.com/ | No license |
CryptoAllDay | https://cryptoallday.com/ | No license |
SpearTrader | www.speartrader.com | No license |
TegasFX | www.tegaxfx.com | Offshore License |
Cryptonix Team | https://thecryptonixteam.com/ | No License |
Cyber FX | https://www.cyber-fx.com/ | No License |
MCH Investment Strategies | www.mchinvestment.com | No License |
CF Merchants | www.cfmerchants.com | Offshore license |
OneTradex | www.onetradex.com | Offshore license |
Evolution Brokers | www.evolutionbrokers.com | Offshore license |
4xFX | www.4xfx.com | No License |
YFX Capital | www.yfxcapital.com | Offshore license |
PrimeFX | www.pfx-bank.com | No license |
AG Capitals | www.agcapitals.com | Offshore license |
Aleforex | www.aleforex.com | No license |
CarterFS | www.carterfs.com | No license |
Option888 | www.option888.com | No license |
Parnassus Group | www.parnassusgroupllc.com | Offshore License |
Prime | www.hbblmw.com | No license |
UBCFX | www.ubcfx.com | Offshore License |
Zuercher Capital | www.zuerchercapital.com | No License |
CFDStocks | https://www.cfdstocks.com/ | No License |
Aisa | www.aisafx.com | Offshore license |
St Clair Capital Group | http://stclaircapitalgroup.com/ | No License |
PBN Trade | https://pbntrade.com/ | No License |
Morgan Newfield | http://www.morgannewfield.com/ | No License |
By Trading | http://by-trading.com | No License |
GSI Markets | www.gsimarkets.com | Offshore license |
RichmondFG | www.richmondfg.com | No License |
FXmarket247 | https://fxmarket247.com | No License |
Binary Uno | https://www.binaryuno.com/ | No License |
OptionStars Global | https://www.optionstarsglobal.com/ | No License |
Goptions | http://www.goptions.com/ | No License |
Welkron | www.welkron.com | Offshore license |
XtradeFX | http://xtradefx.com/ | No License |
Jones Mutual | www.jonesmutual.com | No License |
Swift Bit Options | www.swiftbitoptions.com | Offshore license |
Rocket Consultant Group | www.rocketconsultantgroup.com | No license |
RCPro | www.rcpro.com | No license |
Extick | www.extick.com | No license |
2dots | www.2dots.com | No license |
GSFX | http://www.gsfx.com | No license |
10Brokers | www.10brokers.com | No license |
Platinums Trade | www.platinumstrade.com | Offshore license |
Broker Yard | http://www.brokeryard.com | Offshore license |
Shinsei Corporate Management | https://www.shinseisecurities.com | No License |
Binatex | https://binatex.com/ | No License |
LottMarket | https://lottmarket.com/ | No License |
Finpari | http://www.finpari.com/ | Offshore License |
Empire Option | https://www.empireoption.com/ | Offshore License |
BeAlgo | www.bealgo.com | No license |
Noble Capital House | https://www.noblecapitalhouse.com/ | No license |
SoarFX | https://www.soarfx.com | No license |
OPCompany | www.opcompany.net | No license |
Dax-300 | www.dax-300.com | Offshore license |
XEcrypto Bank | xecryptobank.com | No License |
Pearson Investments | https://www.pearson-investments.com/ | No License |
Dubai FXM | www.dubaifxm.com | Offshore license |
Asic Trader | www.asictrader.com | No license |
TouchTrades | www.touchtrades.com | No license |
CF Group | www.forexcf.com | No license |
Markets Xchange | www.marketsxchange.com | Offshore license |
NBR Trading | https://www.nbrtrading.com/ | No License |
RoyalCripto | http://royalcripto.com/ | No License. Negative Reputation |
CK Markets | ckmarkets.com | No License |
TopstepFX | www.topstepfx.com | No License |
PlusOption | https://www.plusoption.com/ | No License |
Financika | www.financikatrade.com | Offshore license |
PWRTrade | www.pwrtrade.co | Offshore license |
CriptoRobot | criptorobot.com | No License |
Point Investment Group | http://www.pointinvestmentgroup.com/ | No License. Negative Reputation |
Ayrex | https://www.ayrex.com | No License |
Fin-Tech Prime | www.fin-techprime.com | Offshore license |
Trade Fintech | https://tradefintech.com/ | Offshore License |
iMarketsLive | https://imarketslive.com/ | No License |
Nagaharu Global | http://www.nagaharu-global.com/ | No License |
FxtPremium | www.fxtpremium.com | Offshore license |
LatAm | https://www.latam-fx.com/ | No License |
VTGFX | www.vtgfx.com | Offshore License |
VNC Brokers | www.vncbrokers.com | Offshore License |
Zend Trade | www.zendtrade.com | No license |
OndaMarkets | www.ondamarkets.com | Offshore license |
Inmarket FX | www.inmarketfx.com | Offshore license |
EyeLine | www.eyelinetrading.com | No License |
Shtern Group | https://www.shterngroup.com/ | No License |
TIXfx | http://www.tixfx.com/ | No License |
Invest Trader | https://investrader.net/ | No License |
Option Expert | https://optionexpert.net/ | No License |
24TradeRush | http://24traderush.com/ | Suspended License. |
FXBTG | www.fxbtg.co.nz | No license |
Easy Line Pro | www.easylinepro.com | No license |
FX Merchants | www.fxmerchants.com | No license |
Trades.com | www.trades.com | No license |
TopTrade | https://www.toptrade.fm/ | No License |
TeamFX | https://www.teamfxtrading.co.uk/ | No License |
HybridReserve | www.hybridreserve.com | Offshore license |
Templer FX | www.templerfx.com | Offshore license |
Britonprice | www.britonprice.com | No license |
WT Capital | www.wt-capital.com | Offshore license |
Eminage | www.eminage.com | No License |
ECM | www.ecmtrader.com | No License |
Tallinex | www.tallinex.com | No License. Negative Reputation |
UB4Trade | www.ub4trade.com | No license |
Finodax | www.finodax.com | No license |
TradeToro | www.tradetoro.com | Offshore license |
GMFX24 | www.gmfx24.com | Offshore license |
Boom Xchange | www.boomxchange.com | No license |
CapitalXP | www.capitalxp.com | Offshore license |
Roiteks | https://roiteks.com/ | No License |
365 FX | www.365-fx.com | Offshore license |
LVMexchange | www.lvmexchange.com | Offshore license |
4xbrands | www.4xbrands.com | Offshore license |
Big Boss | https://www.bigboss-financial.com/ | Offshore license |
PrimeCrypto | https://primecrypto.io/ | No License |
Capital Swiss FX | www.capitalswissfx.com | Offshore license |
CFDs100 | www.cfds100.com | No license |
Marketsplus | https://marketsplus.com/ | No license |
Novatrades | https://www.novatrades.com/ | No license |
AMP Trading | https://www.novatrades.com/ | No license |
GFCInvestment | www.amptradinggroup.com | Offshore license |
FXBreeze | www.gfcinvestment.com | No License |
CoinbrokerZ | www.coinbrokerz.com | No License |
Crypto Options Trader | www.crypto-optionstrader.com/ | No License |
TradesFX | www.tradesfx.com | Offshore license |
Cac400 | www.cac400.com/ | No License. Negative Reputation |
MT4Invest | www.mt4invest.com/ | No License |
UFX | www.ufx.com | Offshore License |
MPlus Social | www.mplussocial.com | Offshore license |
XtraderFX | www.xtraderfx.com | No license |
IGOFX | www.igofx.com | Offshore license |
Vix500 | https://vix500.com/ | No License. Negative Reputation |
DracoFX | www.dracofx.com | No License |
Efexa1000 | www.efexa1000.com | Offshore license |
AlphaCapital | www.alphacapital.capital | No License |
Mib700 | www.mib700.net/ | No License. Negative Reputation |
Bormancorp | www.bormancorp.com | Offshore license |
HispaMarkets | www.hispamarkets.com | Offshore license |
RC Global Financial | www.rcglobalfinancial.com | Offshore license |
Trade111 | www.trade111.com/ | No License. Negative Reputation of the Group. |
4xpoint | www.4xpoint.com/ | No License. |
LittInvest | www.littinvest.com | No License. |
XtreamForex | www.xtreamforex.com/ | No License. |
SigmaCFD | www.sigmacfd.com | Offshore license |
Markets Cube | www.marketscube.com | Offshore license |
Markets.Online | www.markets.online | No License |
Prestige.FM | www.prestige.fm | No License |
FXGIM | www.fxgim.com | Offshore license |
EuroPrime | https://www.europrime.com/ | No License. |
AroTrade | www.arotrade.com | Offshore License |
FXPrimes | www.fx-primes.com | No License. |
XMarkets | www.xmarkets.com | No License. |
FXG Invest | www.fxginvest.com | Offshore license |
InvestCity | www.investcity.com | Negative Reputation. |
Profit Trade | www.profit-trade.com | Offshore license |
Escuela Trades | www.escuelatrades.com | No License |
Primus Trades | www.primustrades.com | No license |
RaxoFX | www.raxofx.com | Offshore license |
EFXGlobal | www.efxglobal.com | Offshore license |
True4X | www.true4x.com | Offshore License. |
GDM FX | www.gdmfx.com | No License. Negative Reputation. |
Market Investment | www.marketinvestment.com/ | Offshore License. |
Up4x | www.up4x.com | Offshore license |
Master4x | www.master4x.com | No license |
ECN Capital | www.ecncapital.com | Operates with No License. Negative Reputation. |
Caesar Trade | http://caesar-trade.com/ | Operates with No License. Negative Reputation. |
TradeX1 | https://tradex1.com | Operates with No License |
HBC Broker | www.hbcbroker.com | Offshore license |
PBN Capital | www.pbncapital.com | No license |
TorOption | www.toroption.com | Operates with No License |
CFXPoint | www.cfxpoint.com/ | Operates with No License |
InvestingPRO | www.investingpro.com | Offshore license |
RoyalCFDs | www.royalcfds.com | Offshore license |
XLR Trade | www.xlrtrade.com | Non Licensed Operation. |
ManagedForexHub | http://managedforexhub.com/ | Non Licensed Operation. |
24StarTrade | www.24startrade.com | Non Regulated Broker. |
31FX | www.31-fx.com | Offshore license |
365Markets | www.premium.365markets.com | No license |
AGAM | https://atlanticgam.online/ | No License. Numerous warnings. |
Five Winds | https://fivewindsam.com/ | No License. Numerous warnings. |
TitanTrade | www.titantrade.com | Offshore license |
AFX Markets Online | www.afxmarketsonline.com | Offshore license |
Getco Pro | www.forex.getcopro.com | No license |
BForex | www.bforex.com | No license |
MyFintec | www.myfintec.com | Offshore license |
AlfaTrade | http://alfatrade.com/ | Offshore License. Negative Reputation. |
AAFX Trading | www.aafxtrading.com | Offshore company. Negative Reputation. |
CloseOption | www.closeoption.com | Lack of Regulation |
Capitals Banks | www.capitalsbanks.com | No license |
Wise Banc | www.wisebanc.com | No license |
HiWayFX | https://hiwayfx.com | Suspended License. Suspicious Operations. |
S2Trade | www.s2trade.com | Operates with No License |
PBN Invest | www.pbninvest.com | Offshore license |
Fxcentral | http://www.fxcentral.net | No License. Negative Reputation. |
Capprofx | www.capprofx.com | Operates with No License |
Forex Optimum | https://forexoptimum.com | Operates with No License |
KontoFX | www.kontofx.com | No license |
Forex Swiss FXCH | http://forex-swiss.com | Operates with No License. |
ACFX | http://atlaseforex.com | Suspended License. Negative Reputation. |
Global Clearing Group | http://2pipsforex.com | Operates with No License |
FinPro Trading | https://finprotrading.com | Operates with No License |
GAINSY | www.gainsy.com | Operate without License. |
NetoTrade | www.netotrade.com | Operation with no license. Negative Reputation. |
Trade24 | www.trade-24.com | Offshore license |
Benchhill Partners | www.benchhill.ch | No license |
Markets Broker | www.marketsbroker.com | No License. Offshore Broker. |
Yadix | www.yadix.com | Negative Reputation |
Trade Capital | www.tradecapital.com | No license |
AAAFx | https://aaafx.com | Numerous complaints. |
iFOREX | www.iforex.com | Non compliance |
TradeDAX | www.tradedax.com | Offshore license |
GCI Financial | www.gcitrading.com | No License |
Opportunity Trade | www.opportunity-trade.com | No License |
TopicMarkets | www.topicmarkets.com | Offshore license |
BrokerOfficial | www.brokerofficial.com | No license |
Profiforex | www.profiforex.com | No License. Offshore Broker. |
FxOnUs | https://fxonus.com/ | No License |
SuperForex | www.superforex.com | Offshore license |
Bulls Capital Markets | www.bullscapitalmarkets.com | No License. |
FreshForex | https://freshforex.com/ | No License. |
LQDFX | www.lqdfx.com | Offshore license |
Capital Currency Trade | www.capitalcurrencytrade.com | Offshore license |
PaxForex | https://paxforex.com | No License |
GFBroker | www.gfbroker.com | Offshore license |
FxGlory | www.fxglory.com | Offshore license |
Trade12 | www.trade12.com | No License |
Fort Financial Services | www.fortfs.com | Lack of Regulation. |
Stock Trade Invest | www.stocktradeinvest.com | No license |
InvestMib | www.investmib.com | Offshore license |
FxUnited | http://fxunitedglobal.com | No License. Scam operations. |
Grand Capital | www.grandcapital.net | Offshore license |
Capital Markets Banc CMB | https://capmbeu.com | No License |
FXC Markets | www.fxcmarkets.com | Offshore license |
TGC FX | www.tgcgroupfx.com | No license |
Turnkey Forex | www.turnkeyforex.com | Offshore License |
BECFD | www.becfd.com | Offshore license |
Swiss Markets | www.global.swissmarkets.com | Offshore license |
ExpertOption | www.expertoption.com | Offshore License |
Royal Capital Pro | www.royalcapitalpro.com | No License |
CentroBanc | www.centrobanc.com | Offshore license |
Richmond Investing | www.richmondinvesting.com | Offshore license |
FXGiants | www.fxgiants.com | Non Compliance |
IronFX | www.ironfx.com | Non compliance |
KB Capitals | www.kbcapitals.com | No license |
Crown Finance | www.crown-finance.com | Offshore license |
ForexMart | www.forexmart.com | Reputation |
UniTrader | www.unitrader.com | Offshore license |
FGS Markets | www.fgsmarkets.com | Offshore license |
XForex | www.xforex.com | Offshore License |
72option | www.72option.com | No license |
Banc De Monarch | www.bancdm.io | Offshore license |
SGT Markets | www.sgtmarkets.com | Offshore license |
8888Markets | www.8888markets.com | No license |
HQBroker | www.hqbroker.com | Offshore license |
FXT24 | www.fxt24.com | No license |
TradesPrime | www.tradesprime.com | Offshore license |
VFX Capital | www.vfxcapital.com | Offshore license |
iForex24 | www.iforex24.com | Offshore license |
StarfishFX | www.starfishfx.com | No license |
Investex | www.investex.com | Offshore license |
WorldFXM | www.worldfxm.com | Offshore license |
GreenFields Capital | www.greenfieldscapital.com | No license |
SimpleFX | www.simplefx.com | Offshore license |
1000 Extra | www.1000extra.com | Offshore license |
NordFX | www.nordfx.com | Offshore license |
Ostrich Capital | www.ostrichcapital.com | No license |
CM Trading | www.cmtrading.com | Offshore license |
LMFX | www.lmfx.com | Offshore license |
Tradeview Forex | www.tradeviewforex.com | Offshore license |
UMOFX | No license | |
Gallant Finance | www.gallantfinance.com | Offshore license |
FXChoice | www.myfxchoice.com | No license |
TradeFTM | www.tradeftm.com | No license |
Stern Markets | www.sternmarkets.com | Offshore license |
OnlyTrades | www.onlytrades.com | No license |
Xinghui International | No license | |
AVA Investments | www.ava.investments | Offshore license |
FxFWay | www.fxfway.com | Offshore license |
TradeBNP | www.tradebnp.com | Offshore license |
Baihua Global | www.bfmfx.com | No license |
YesTrading | www.yestrading.com | Offshore license |
FSMSmart | www.fsmsmart.com | Offshore license |
AccentForex | www.accentforex.com | Offshore license |
Suisse Trade Center | www.stcforex.com | Offshore license |
CMSTrader | www.cmstrader.com | Offshore license |
FXPremax | www.fxpremax.com | No license |
SwissCCI | www.swisscci.com | Offshore license |
Axe Invest | www.axeinvest.com | Offshore license |
Forex4You | www.forex4you.com | Offshore license |
TradeTime | www.tradetime.com | Offshore license |
Universe Markets FX | www.universemarketsfx.com | No license |
12Trader | www.12trader.com | Offshore license |
Umarkets | www.umarkets.com | Offshore license |
Utrade | www.utrade.online | No license |
JAFX | www.jafx.com | Offshore license |
uTrader | www.utrader.com | Offshore license |
Al Trade | www.alforex.com | No license |
10Markets | www.10markets.com | Offshore license |
Caxton Global | www.caxtonglobal-fx.net | No license |
InstaFX24 | www.instafx24.com | Offshore license |
8inFX | www.8infx.com | Offshore license |
StoxMarket | www.stoxmarket.com | Offshore license |
TDMarkets | www.tdmarkets.com | Offshore license |
Trade WFX | www.tradewfx.com | No license |
Tait Investment Group | www.taitinvestmentgroup.com | No license |
FXG Trade | www.fxgtrade.com | Offshore license |
SolidCFD | www.solid-cfd.com | Offshore license |
GCC Investing | www.gccinvesting.com | No license |
MarketTM | www.markettm.com | No license |
MaxCFD | www.maxcfd.com | No license |
BRFX Trade | www.brfxtrade.com | Offshore license |
Tradovest | www.tradovest.com | Offshore license |
CFD Corporate | www.cfdcorporate.com | No license |
Pro TradeFX | www.protradefx.com | Offshore license |
Gulf FX | www.gulffx.co | No license |
Time4X | www.time4x.co | Offshore license |
100XFX | www.100xfx.com | Offshore license |
CT-Trade | www.ct-trade.com | No license |
Everest International Group Ltd | www.everestinter.com | No license |
EU-Capital | www.eu-capital.co | Offshore license |
Bristol Consulting FX | www.bristolconsultingfx.com | No license |
MarketGBP | www.marketgbp.com | Offshore license |
Tradeu2 | www.tradeu2.com | Offshore license |
CFD Royal | www.cfdroyal.com | No license |
Meta Investing | www.metainvesting.com | Offshore license |
Xiaohangjia Brokers | Offshore license | |
ISGXchange | No license | |
Get Financial | Offshore license | |
Broker XP | www.brokerxp.com | Offshore license |
Oracle-FX | www.tg.oracle-fx.com | Offshore license |
Primus Forex Financial Group | www.primusasia.com | No license |
Bitex360 | www.bitex360.com | Offshore license |
Swiss Assets FX | www.sfmsas.net | No license |
Don’t Lose Money Online with Scam Brokers, Trade with
Trusted & Regulated Forex Brokers. Keep Your Fund Safe.
Top Rated Online Best Forex Brokers 2023
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Best Forex Brokers List 2023
Report A Scam Broker
How to Avoid Scam Brokers in Nigeria?
Anyone who knows the forex trading scams in Nigeria, can avoid them without losing the investment. So, can first check the intended broker with the list of forex scams in Nigeria. We have listed all the fake brokers here on this page, so you should see if your selected broker is available in the list, and if it is listed, you should avoid that.
Alternatively, as a prospective trader, you should also see if the broker offers a huge return, push you to register with them, and has no background data. Broker having all of these or at least one problem, you should avoid it.
Final Words
If you really want to stay away from the scam broker, you should check the fake forex brokers list in Nigeria before jumping into forex trading. On top of that, verifying the broker via the fake broker identifying method will be another great way to save yourself from forex trading scams in Nigeria. Additionally, you will also find reviews and discussions on the broker in our forex broker reviews section. Last but not the least, you should avoid any unknown or new brokers unless they are regulated and provide enough proof.