Weekly Forex Blacklist: 33 Platforms Flagged by Regulators or Operating Without Regulation (Aug 17–23, 2026)

Last week, we highlight 33 brokers that operate without legitimate regulatory oversight. Among them, 16 have been formally warned by top-tier financial regulators in Switzerland, Spain, France, and Germany. The remaining 17 are entirely unregulated—and even more alarmingly, most do not display any licence or registration details on their websites. These unmarked platforms pose the greatest danger, as they offer no legal recourse, no investor protection, and often vanish with client funds without warning.

Investors are strongly advised to avoid any platform on this list and to never deposit money with a broker that cannot produce verifiable regulatory credentials.

FINMA, Switzerland's financial regulator, warned against five names: CB Trust, Doronzo AG, Alternative Leaders GmbH, Swiss Core, and ATLAS INVESTED LIMITED.

Spain's CNMV issued warnings concerning Evolutis Group and Altura Algo, while France's AMF flagged LDGexperts.

Germany's BaFin accounted for the largest number of regulatory warnings, involving First Class Investing, Allenby Group, CapitalX Market, AUEXTRADE, KapitalVex, Vertex Capital Group, Aivoris, and BBM Trade.

Unregulated Platforms Require Extra Caution

A particularly concerning feature of this week's list is the number of platforms with no clear regulatory authorization. These include FOREX HESAP AC, ECFX, Puma Broker, Dream World FX, RedRock FX, Bigstone, Solid Capital, ORD Limited, MIEX, MXFX, AFT FX, King Forex, Xinke Limited, Monexfx, Maliksi Ltd, Achiever FX, and Zescapital.

An absence of regulatory information does not automatically prove that a platform is a scam. However, investors should treat a broker that cannot demonstrate valid authorization with a high level of caution.

Investor Protection Tips

Always verify the licence number directly on the regulator’s official website (e.g., FINMA, BaFin, CNMV, AMF).

Never trust screenshots or PDF “certificates” – fraudsters can forge them easily.

Check the “Legal” or “Regulatory” page – if missing or vague, walk away.

Be extra cautious with platforms offering:

Guaranteed high returns

Bonuses that lock your funds

Pressure to deposit more within “limited time”

Only trade with brokers licensed in your own jurisdiction or in top-tier G20 countries.

BrokersView Reminds

If you have already deposited funds with any of these brokers, stop all further transfers and contact your local financial regulator or police cyber-crime unit immediately.

If you have questions about a broker, you may ask BrokersView. Our team will provide detailed answers free of charge.

Check before you trade. Verify before you deposit

 
Disclaimer: This weekly exposure list is for informational and warning purposes only. It does not constitute legal or financial advice. Always conduct your own due diligence before investing.