Fake Forex Brokers List in UK 2023

As the forex industry is growing day by day, scammers are also increasing their activity to snatch the money virtually from the investors. They can do this in various ways all over the world. This article will discuss the matter based on the scam brokers in UK. Although the UK forex market is highly regulated, forex trading scams in UK are still there and find new ways to scam. That is why understanding the UK scammers is essential, and we have compiled fake forex brokers list UK to make the traders aware of such fake brokers. Read on to know all the unique ways for forex trading scams in UK and a list of forex scams in UK.

How to Identify the Scam Brokers in UK?

UK traders may think there are no scammers in the industry as the forex regulation and law enforcement agencies are active against the scammers. However, in reality, the forex trading scams in UK always try to trick the regulatory organizations, and in most cases, they become successful. So, you may need to keep yourself updated with the scamming procedure to know such a scam broker beforehand.

However, identifying processes is troublesome and time-consuming in most cases. Therefore, experts advise an easy way, to check fake forex brokers list UK in many ways. Besides, you will also find the list here in this article. Additionally, there are few patterns too, which we have explained below.

Fake Forex Brokers List in UK: Ensure High Return on Investment

This is the most common way to attract a different level of investors, and even the expert traders also fall into this trap. As it is universal that the forex market always changes and is volatile as well as liquidity is high, scammers find it is an opportunity. So, they offer a high return or 100% return on the investment even for the low investment. So, does anyone find this kind of return lucrative. Hence, the investors tend to put money on that. But, the rule of thumb for forex trading is that no one can ensure a profit in this highly volatile market. So, offering such a return should be considered as scamming activity, and if it is from UK brokers, you can avoid them as a list of forex scams in UK and report to the Financial Conduct Authority.

Unsolicited Marketing

Sometimes forex trading scams in UK may send you an unsolicited message or email or even a letter about the lucrative forex offerings. They even push you through the message to sign up with them, which is not expected from a good broker. Such marketing offering will not give you enough time to think, eventually they play with your mind and try to divert positively with all those attractive offerings. So, you must be very aware of such activities and identify them as fake. However, there can be some exceptions too, but you should check their regulatory status with the FCA.

No Credible Background

Except for a new company, every broker or financial organization has its background, and it can supply the background documents when asked. Nevertheless, the scam brokers in UK normally fail to provide credible background documents about the company and their service. Sometimes, they provide huge earning screenshots, which should not be a valid background document. So, if any of these signs match with the broker, you can put that in the list of forex scams in UK.

Scam Brokers List

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Best Forex Brokers List 2023

RANK	VISIT BROKER	REGULATION We only list licensed brokers that comply with the requirements of prominent regulatory agencies.	MIN DEPOSIT The minimum amount you need to deposit in order to start trading.	DEPOSIT BONUS	RATING	MAX LEVERAGE Leverage refers to the ratio of securities you can buy for a given payment. The higher the leverage ratio, the higher your buying power (and the higher the risk). For example, a leverage ratio of 500:1 means you can purchase 500 securities, but only pay the equivalent of 1 security valuation. The leverage ratio offered can vary depending on the experience level of the trader.	PAYMENT SYSTEM	SUPPORT	START TRADING
1		ASIC, CySEC, FSP	$100	No Bonus	99 Read Review	1:500		Telephone: +44 28 2544 7780	Open an Account More Information
Pros Excellent education tools Low forex fees Fast account opening Easy funding methods Cons No bonuses Platforms & Devices READ FULL REVIEW
2		ASIC, CySEC, FSA, SCB	$200	No Bonus	94 Read Review	1:500		Telephone: +248 467 19 76	Open an Account More Information
Pros Low forex fees Fast order execution Analytical training materials 90+ instruments Cons Slow live chat support Non-EU traders don’t get investor protection Platforms & Devices READ FULL REVIEW
3		FSA	$0	No Bonus	92 Read Review	1:500		Telephone:	Open an Account More Information
Pros 9 base currencies 24/7 technical service Direct market access VPS, FIX API, copy trading Superior trading conditions Cons No negative balance protection Withdrawal fees Platforms & Devices READ FULL REVIEW
4		FCA, CySEC, FSCA, SCB	$100	No Bonus	91 Read Review	1:100		Telephone: +44 (0) 203 151 5550	Open an Account More Information
Pros Excellent customer service Free deposit and withdrawal Negative balance protection Wide range of platform Cons Inactivity fee High Trading Fees for some CFDs Platforms & Devices READ FULL REVIEW
5		ASIC, FCA, CySEC, SCB	$100	No Bonus	90 Read Review	1:500		Telephone:	Open an Account More Information
Pros Fully digital account opening Low forex fees Research tools Free Education Resources Cons No bonuses Platforms & Devices READ FULL REVIEW
6		ASIC, CySEC	$1	100%	90 Read Review	1:3000		Telephone: +35 7251 23212	Open an Account More Information
Pros No withdrawal fee Low stock and stock index CFD fees Negative balance protection No inactivity fee Cons Average forex CFD fees No PAMM accounts Platforms & Devices READ FULL REVIEW
7		ASIC, CySEC, FSC	$5	Up to $5000	88 Read Review	1:1000		Telephone: +501 223-6696	Open an Account More Information
Pros Low withdrawal fees Great educational tools Wide range of leverage Multilingual customer support Cons Non-EU traders don’t get investor protection Lack of weekend customer support Platforms & Devices READ FULL REVIEW
8		FCA, DFSA, FSCA, FSA, CMA	$5	100%	85 Read Review	1:1000		Telephone: +44-2030978571	Open an Account More Information
Pros Low spread Controlled by several regulators Numerous deposit and withdrawal Favorable trading conditions Cons Few account currencies Only USD or EUR as base currencies Platforms & Devices READ FULL REVIEW
9		ASIC, FCA	$0	No Bonus	78 Read Review	1:500		Telephone: +61 2 9965 5830	Open an Account More Information
Pros Automatic insurance coverage Low entry threshold Fully digital account opening Low forex fees Cons Limited research tools Only forex and CFD trading Platforms & Devices READ FULL REVIEW
10		FCA, ASIC, DFSA	$200	No Bonus	75 Read Review	1:500		Telephone: +1786 628 1209	Open an Account More Information
Pros Digital account opening process Seamless deposit and withdrawal Attractive trading conditions No inactivity fee Cons No cent account Few analytical materials Platforms & Devices READ FULL REVIEW

Report A Scam Broker

How to Avoid Scam Brokers in UK?

There are many ways to keep your fund safe from scammers. But the best way is to know their name and prior scamming activity. However, finding each scammer and activity is troublesome. That is why we have made the fake forex brokers list UK. This can help you to know about fake brokers easily.

Further, when looking for a broker, you can keep the scam broker identifying method in mind, which can be a good practice to avoid scam brokers. Besides, we will also suggest you remain active in different forex trading forums and community groups to keep yourself updated about the scammers. However, if you don’t have time for that, you can check this page from time to time as well as update the list of any new scammers that emerge.

Through these ways, you can keep your fund in the safe hand and keep yourself safe from scam brokers.

Final Words

Always checking the fake forex brokers list UK is the event strategy to stay away from the scammers and avoid them. So, if you want to step into the FX industry and select a best forex broker, you should check the list of forex scams in UK first to avoid them.

Avoiding the forex trading scams in the UK will help you find the legit and best broker.