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Watch Out For These Unregulated Brokers Tagged As Unauthorized Firms By FCA - 1/9/2023

WikiFX | 2023-01-10 15:01

Abstract：A newly added list of unauthorized firms was released by the FCA to warn the public not to invest due to a lack of necessary authorization to conduct financial transactions or investments.

Watch Out For These Unregulated Brokers Tagged As Unauthorized Firms By FCA.png

Forex scams are schemes that defraud traders of their hard-earned money through various means, such as falsely promising high returns on investments, manipulating software to generate losing trades, and falsely representing themselves as registered firms. These scams can take many forms and may be executed by individuals, companies, or even entire countries.

One common form of forex scam is the “boiler room” scam, in which high-pressure salespeople try to convince traders to open accounts and make large deposits, promising unrealistic returns and using high-pressure tactics to get the trader to make a quick decision. These scams often target new traders who may not have experience in the markets and are not familiar with the risks.

Another form of scam is the “managed account” scam, in which a company offers to trade a trader's account on their behalf, promising high returns for a small initial deposit or a percentage of the profits. In many cases, the account is not traded as promised and the trader loses their deposit.

Forex scams can also be perpetrated by firms that falsely represent themselves as registered and regulated, when in fact they are not. Additionally, Signal selling schemes, Autotrading robots, or any other type of trading with no sound strategy are also Scams.

WikiFX has been exposing scam brokers released by the FCA to warn investors not to invest because they lacked the necessary authorization to conduct financial transactions or investments.

List of newly added unauthorized firms

INVEST KINGDOM

MORGAN FINANCE

WALK CRYPTO

METROINCOMETRADE

RETRO FX PROFIT

PROGRESSIVE TRADE LTD

GFSS LTD

CAPITAL WEALTH

UK TRADING OPTIONS

WIN PROTOCOL

Final Word

It's important for traders to do their due diligence and research any firm or individual they are considering doing business with before depositing any money. It's also important to check regulatory agency such as NFA, CFTC, and FCA to see if a broker is registered and have any criminal records or penalties.

In addition, you should also be skeptical of claims of easy money or overnight wealth, and be wary of anyone who promises unrealistic returns. If something seems too good to be true, it probably is.

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Download link: https://www.wikifx.com/en/download.html

Related broker

Not Regulated

Invest Kingdom

Company name：Invest Kingdom

Score

1.61

Website：https://investkingdom.net

2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Company name：Walk Crypto

Score

1.61

2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Company name：MorganFinance

Score

1.45

Website：https://morganfinance.trade/

2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.45

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The Reserve Bank of India has appointed Monisha Chakraborty as Executive Director with effect from 3 August 2026; she will oversee the Foreign Exchange Department and the Financial Markets Regulation Department. Chakraborty is a career central banker with over three decades of experience in Supervision, Foreign Exchange, and Government and Bank Accounts, and previously served as Banking Ombudsman. This report explains the significance of the new RBI Executive Director appointment for forex regulation India, the scope of the Foreign Exchange Department and the Financial Markets Regulation Department, and what authorised persons, banks, and forex market participants should monitor as the new ED takes charge.

Original 2026-08-06 20:10

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A forex liquidity provider decision now shapes the broker's spreads, fills, slippage, hedging cost, regulatory exposure, and exit options long after the platform is chosen. This 2026 guide explains what a forex LP actually delivers versus what the marketing claim says, how tier-1 banks, prime of prime, and multi-LP aggregators differ in practice, and how execution models (DMA, ECN, STP) change the broker's daily operating reality. It also walks through due diligence on credit, technology, reporting, governance, and exit, and shows how a 2026 broker can combine a primary LP with secondary routing without losing control of the client experience. Use the decision matrix, integration timeline, and operational tests to compare an fx liquidity provider before contract signature, not after a market event.

Original 2026-08-06 19:44