Search our database of 55 brokers, each verified against official regulatory registers — FCA, CySEC, ASIC, FSCA, CMA Kenya — never against the broker’s own marketing. 25 brokers failed.
✓ Last verified: July 2026. We re-verify all brokers with every update to this page.
The broker you searched for is not in our database of 55 verified brokers. This does not mean it is safe — it means we have not reviewed it yet. As a general rule: check your broker’s licence directly on the regulator’s website (not the broker’s). If it only holds offshore licences (Belize, BVI, SVG, Marshall Islands, Comoros), treat it with extreme caution.
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These brokers failed our safety framework: no real regulation, a structurally rigged core product, or a disqualifying record of fraud, revocations, or criminal proceedings.
No, AMarkets is not safe — it is an offshore forex broker registered only with MISA Comoros and in the Cook Islands, neither of which provides meaningful regulatory oversight, and with no Tier-1 licence anywhere in its group there is no investor protection scheme behind client funds.
No, Banxso is not safe — its FSCA licence has been permanently revoked after a confirmed Ponzi scheme caused R3 billion in client losses, and the company has been liquidated by court order with its directors banned for up to 30 years.
No, BinaryCent is not safe — it is an unregulated binary options platform in the FGC network with no financial licence of any kind, its core product is binary options with a built-in negative expected value, and six regulators including the CFTC, AMF France, and FSMA Belgium have issued public warnings against it.
No, Binarium is not safe — it is an unregulated binary options platform registered in SVG, a jurisdiction that explicitly does not license forex or binary brokers, its core product is binary options with a built-in negative expected value, and the FCA has issued a public warning against it for serving UK clients without authorisation.
No, Binomo is not safe. It holds only an SVG registration (no investor protection), is a FinaCom member with a €20,000 compensation fund, and has been warned or blacklisted by the FCA, CySEC, CNMV, CVM, FSCA, and Bappebti. Real-money trading is binary options only — CFDs are demo-only. Its Indonesian affiliate was sentenced to 10 years in prison for fraud. TIC Score: 1.5/5 — Not Safe.
No, CloseOption is not safe — it is an unregulated binary options platform based in Georgia whose claimed National Bank of Georgia licence appears to be a business registration rather than a brokerage authorisation, and it has been on the CFTC RED List since July 2022.
No, ExpertOption is not safe — it has no government regulation anywhere in the world, offers only binary options with an asymmetric payout that favours the platform, and is registered in SVG (which does not regulate binary options brokers). FinaCom membership since 2022 provides a private complaint channel but does not replace government oversight. The FCA has issued warnings against entities operating under the “Expert Option” name. TIC Score: 1.5/5.
No, FortFS is not safe — it is an offshore broker registered in SVG with no financial licence that showed signs of operational collapse in 2020, when clients were instructed to migrate to another broker (NPBFX), and its current operational status remains uncertain.
No, FreshForex is not safe — its only registration is a company incorporation in SVG, where the financial authority has explicitly stated since January 2023 that it does not regulate forex brokers, leaving clients with no financial licence and no protection behind their funds.
No, Grand Capital is not safe — it received a formal scam alert from the Seychelles FSA for operating without authorisation and was expelled from the self-regulatory FinaCom in April 2026, collapsing even the minimal standing it once claimed.
No, IQCent is not safe — it is an unregulated binary options platform in the FGC network registered in the Marshall Islands, its only accreditation is the self-styled IFMRRC which is not a real regulator, and the FCA and CMVM have issued public warnings against it.
No, IQ Option is not safe for most users — IQ Option holds a genuine CySEC licence (247/14), but this only covers EU clients. Traders in Africa, Latin America, and Asia use SKY LADDER LLC, an offshore entity registered in Antigua and Barbuda with no Tier-1 regulatory protection. IQ Option’s primary product for non-EU clients is binary options, which carry a built-in mathematical edge for the platform.
No, NordFX is not safe — it is an offshore forex broker regulated only by the Seychelles FSA and Mauritius FSC with no Tier-1 licence, and it appears on both the RBI India alert list and the Malaysia Securities Commission Investor Alert.
No, Octa is not safe — its majority owner was arrested in Spain in October 2025 in connection with a $250 million fraud scheme uncovered by India’s Enforcement Directorate, and with criminal proceedings ongoing and $644 million in assets seized, client funds sit inside a toxic corporate structure regardless of its licences.
No, Pocket Option is not safe — it is an unregulated binary options platform registered in Comoros with no Tier-1 licence, the FCA has warned against it and the CFTC has placed it on its RED List, and users have reported frozen accounts holding up to $40,000.
No, Olymp Trade is not safe — it holds an offshore VFSC (Vanuatu) licence with no Tier-1 regulation, CySEC has issued two formal warnings against it, and its Fixed Time Trades product (binary options) gives the platform a built-in mathematical advantage over the trader. FinaCom membership provides a private dispute path but is not regulatory protection. TIC Score: 2.0/5.
No, Quotex is not safe — it is an unregulated binary options platform registered in Seychelles with no Tier-1 licence, its core product carries a built-in negative expected value, and six financial regulators, including the FCA and IOSCO, have flagged it.
No, RaceOption is not safe — it is an unregulated binary options platform in the FGC network with no financial licence, five regulators including the CNMV and AFM Netherlands have warned against it, and more than 35 payout complaints remain unresolved.
No, RoboForex is not safe for African and Latin American clients — they are served by an entity regulated only by the FSC of Belize, and while the group holds a CySEC licence under the separate RoboMarkets brand, that protection does not extend to the offshore entity actual clients trade under.
No, Spectre.ai is not safe — the blockchain-based binary options platform is confirmed out of business with a non-functional platform, leaving only a lapsed SVG registration behind it; do not deposit under any circumstances.
No, Stockity is not safe — it is a confirmed rebrand of the blacklisted Binomo, registered in Vanuatu and the Marshall Islands in 2022 specifically to circumvent the Indonesian ban, its core product is binary options, and it has accumulated multiple withdrawal-fraud complaints since launch.
No, SuperForex is not safe — it is an offshore broker regulated only by the IFSC of Belize with no Tier-1 licence, and its aggressive bonus structures carry restrictive withdrawal conditions with no investor compensation scheme behind client funds.
No, Videforex is not safe — it is a binary options platform whose Marshall Islands registration was formally annulled in May 2022, which means it operates without even a valid offshore incorporation, let alone a financial licence.
No, Weltrade is not safe — its FSCA licence sits in ‘Exceeded’ status for operating outside permitted parameters, two of its other licences have been revoked by Belize and Belarus, and its regulatory record is deteriorating across jurisdictions.
No, WorldForex is not safe — it is an offshore broker registered in SVG and Vanuatu with no Tier-1 regulation, and it pairs forex/CFDs with binary options, combining an unprotected entity with a structurally rigged product.
These brokers pass all three safety steps, but one of their products carries a structural caveat you must understand before trading it.
Deriv is safe for forex and CFD trading — it operates an MFSA-regulated entity with a 25-year operational record (formerly Binary.com) and no regulatory scandals — but trade its synthetic indices with caution: they are generated by Deriv’s own algorithm, which makes the broker your counterparty on a product it controls.
These brokers pass all three steps of our framework. “Safe” means it is not a scam — it does not automatically mean it is the right broker for you. Brokers carrying the ★ badge have also passed our full hands-on review; for the rest, we have verified the registers but not yet tested the broker in depth.
Yes, Admirals is safe — it is regulated by the FCA, CySEC, ASIC, and FSCA (four Tier-1 licences), its core business is standard multi-asset brokerage including real stocks, and it has a clean regulatory record.
We haven’t done a full review of Admirals yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, AvaTrade is safe — it is regulated by the Central Bank of Ireland, ASIC, and FSCA, its core products are standard multi-asset CFDs with transparent pricing, and it has a clean record across two decades of operation.
Yes, Axi is safe — it is regulated by the FCA, ASIC, and FSCA, its core product is raw-spread forex/CFD trading, and it has a clean regulatory record.
We haven’t done a full review of Axi yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Capital.com is safe — it is regulated by the FCA, CySEC, and ASIC, its core product is standard CFD trading on a proprietary platform, and it has a clean regulatory record.
We haven’t done a full review of Capital.com yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, CMC Markets is safe — it is regulated by the FCA and ASIC and listed on the London Stock Exchange, its core business is standard multi-asset brokerage, and it has decades of clean operation.
We haven’t done a full review of CMC Markets yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, eToro is safe — it is regulated by the FCA, CySEC, and ASIC and listed on NASDAQ, its core products are real stocks, crypto, and standard CFDs, and it has a clean regulatory record; note that availability in Africa is currently limited to a few countries.
Yes, Exness is safe — it is a globally regulated broker holding multiple licenses from respected financial regulators around the world, its core product is standard forex/CFD trading with transparent pricing, and it has a clean record with no enforcement actions, scandals, or withdrawal-fraud patterns.
Yes, FBS passes our safety check — the group holds active CySEC, ASIC, and FSCA licences and has a clean record; note, however, that African clients are documented as being routed to its Belize entity with leverage up to 1:3000, which is why it is not yet on our recommended list.
We haven’t done a full review of FBS yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, FP Markets is safe — it is regulated by ASIC, CySEC, and FSCA, its core product is raw-pricing forex/CFD trading, and it has a clean regulatory record.
We haven’t done a full review of FP Markets yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, FxPro is safe — it is regulated by the FCA and CySEC with a 20-year track record, its core product is standard multi-platform forex/CFD trading, and it has a clean regulatory record.
We haven’t done a full review of FxPro yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, FXTM (ForexTime) is safe — it is regulated by the FCA and CySEC, its core product is standard forex/CFD trading with a strong Africa presence, and it has a clean regulatory record.
We haven’t done a full review of FXTM yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, HFM (formerly HotForex) is safe — it is regulated by the FCA, CySEC, FSCA, and CMA Kenya, its core product is standard forex/CFD trading, and it has a clean regulatory record.
We haven’t done a full review of HFM yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, IC Markets is safe — it is regulated by ASIC, CySEC, and CMA Kenya, its core product is raw-spread forex/CFD trading with deep liquidity, and it has a clean record as the world’s largest forex broker by trading volume.
We haven’t done a full review of IC Markets yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, IG Group is safe — it is regulated by the FCA, ASIC, and FSCA and listed on the LSE with over 50 years of history, its core business is institutional-grade multi-asset brokerage, and its record is clean.
We haven’t done a full review of IG Group yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, InstaForex passes our safety check — it holds an active CySEC licence (266/15) and has no disqualifying record; note that international clients are typically served through an offshore BVI entity rather than the regulated EU entity, which is why it is not yet on our recommended list.
We haven’t done a full review of InstaForex yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Interactive Brokers is safe — it is directly regulated by the SEC, FCA, and multiple Tier-1 authorities and listed on NASDAQ, its core business is real market access across 150+ markets, and it has one of the cleanest long-term records in the industry.
Yes, IronFX passes our safety check — it holds an active CySEC licence (125/10) and FSCA authorisation and offers standard forex/CFD products; note its significant reputational history, including the 2014 China scandal involving frozen client accounts and multiple regulatory fines, which is why it is not on our recommended list.
We haven’t done a full review of IronFX yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, JustMarkets is safe — it is regulated by the FSCA, its core product is standard forex/CFD trading, and it has a clean record with a growing Africa presence.
We haven’t done a full review of JustMarkets yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, LiteFinance (formerly LiteForex) passes our safety check — it holds an active CySEC licence (093/08) with a clean record; note that international clients are typically served through offshore SVG and Mauritius entities, which is why it is not yet on our recommended list.
We haven’t done a full review of LiteFinance yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Markets.com is safe — it is regulated by the FCA, CySEC, and FSCA, its core product is standard multi-asset CFD trading, and it has a clean regulatory record.
We haven’t done a full review of Markets.com yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, OANDA is safe — it is regulated by the FCA, ASIC, and the US CFTC as one of the longest-standing brokers in the industry, its core product is standard forex/CFD trading, and its decades-long record is clean.
We haven’t done a full review of OANDA yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Pepperstone is safe — it is regulated by the FCA, ASIC, CySEC, and CMA Kenya, its core product is raw-spread forex/CFD trading with premium execution quality, and it has a clean regulatory record.
We haven’t done a full review of Pepperstone yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Plus500 is safe — it is regulated by the FCA, CySEC, ASIC, and FSCA and listed on the LSE, its core product is standard CFD trading, and it has a strong compliance record.
We haven’t done a full review of Plus500 yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Saxo Bank is safe — it is a bank regulated by FINMA, the FCA, and ASIC, its core business is multi-asset brokerage across 60,000+ instruments, and it operates with institutional-grade oversight and a clean record.
We haven’t done a full review of Saxo Bank yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Swissquote is safe — it is a Swiss bank regulated by FINMA, one of the most securely regulated institutions in the industry, its core business is standard multi-asset brokerage, and its record is clean.
We haven’t done a full review of Swissquote yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Tickmill is safe — it is regulated by the FCA, CySEC, and FSCA, its core product is low-cost forex/CFD trading, and it has a clean regulatory record.
We haven’t done a full review of Tickmill yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, Vantage is safe — it is regulated by ASIC and the FCA, its core product is raw-ECN forex/CFD trading, and it has a clean regulatory record.
We haven’t done a full review of Vantage yet — the verdict above is a register-level safety check only, not a deep analysis of its fees, platforms, or withdrawals.
Yes, XM is safe — it is regulated by CySEC, ASIC, and FSCA, its core product is standard forex/CFD trading, and it has a clean record with a major presence in Africa and Latin America.
Yes, XTB is safe — it is regulated by the FCA, CySEC, and KNF Poland and publicly listed on the Warsaw Stock Exchange, its core products are real stocks and standard CFDs, and its record is clean; note that it currently accepts clients from only a few African countries.
Every broker on this page goes through the same 3-step safety check. We only use sources you can verify yourself: the official regulator registers, court records, and public regulator warnings. We never rate a broker based on what its own website or its ads say.
We check whether the broker’s group holds an active license from a top-tier regulator — FCA (UK), CySEC (EU), ASIC (Australia), FSCA (South Africa), or CMA (Kenya) — directly on the regulator’s own register.
Most traders in Africa are served by a broker’s offshore company, so why does a license in the UK still protect you? Because that license is the most valuable thing the broker owns. If the broker cheats clients anywhere, it risks losing the license and the whole business with it. A broker that only has an offshore registration (SVG, Marshall Islands, Comoros, Belize) has nothing to lose. Watch out for fake “regulators” too: IFMRRC, FinaCom, and IFC are private organizations with no legal power.
A normal forex or CFD broker earns from the spread — it gets paid whether you win or lose. Binary options and “fixed time trades” work differently: the payout math is set so the platform wins when you lose. That is not a broker, that is a casino with a trading interface — and no license can fix a product that is built against you. This is why a binary options platform can fail our safety check even when it holds a real license.
We check the company itself for deal-breakers: criminal charges against the owners, revoked licenses, confirmed Ponzi schemes, frozen client accounts, blocked withdrawals, seized assets. A broker can look perfectly licensed on paper while its owners are under arrest — and in that case your money is a hostage to a criminal investigation, no matter what the website says. One confirmed deal-breaker means “not safe”. No exceptions.
The safety check answers one question: is this broker a scam? Our full reviews answer a different one: is this broker any good for you — the real fees, the platforms, how fast you can deposit and withdraw your money, the support quality? A broker can be safe and still expensive, limited, or a bad fit for your country. That is why “Safe” and “★ TIC Recommended” are separate badges. To find the right broker for your situation, use our broker finder or read our guide on how to choose a safe broker. You can see exactly how we test and score brokers in our review methodology and editorial guidelines.
The broker failed at least one step of our safety framework: it has no real regulation (Step 1), its core product is binary options or fixed-time trades (Step 2), or it has been involved in criminal activity, fraud, or licence revocations (Step 3). We strongly advise against depositing money with these brokers.
“Safe” means the broker passed all three steps of our framework — it is not a scam. “TIC Recommended” means we have additionally completed a full hands-on review and rated the broker positively on cost, platforms, and suitability for African traders. A broker can be safe without being good: expensive, limited, or poorly supported. Safety is verified from official registers; recommendation requires our full evaluation.
If you can still withdraw, do so immediately. Move your funds to a broker that holds a Tier-1 licence (FCA, CySEC, ASIC, FSCA, or CMA Kenya). If you are having trouble withdrawing, document everything and file a complaint with your country’s financial regulator.
Having a licence does not automatically make a broker safe. IQ Option holds CySEC and ASIC licences, but its core product for non-EU clients is binary options — a product designed with a negative expected value for the trader. Our framework evaluates the regulation AND the product AND the corporate record.
If your broker is not listed, we have not yet verified it. As a general rule: check whether it holds a licence from a Tier-1 regulator (FCA, CySEC, ASIC, FSCA, CMA Kenya) by searching the regulator’s own website — never the broker’s. If it only has offshore licences (Belize, BVI, SVG, Marshall Islands), treat it with extreme caution. You can also request a check via our contact page.
Every listed broker is re-verified against the official regulatory registers quarterly, and immediately whenever a material event occurs (licence revocation, regulator warning, criminal proceedings). Last full verification pass: July 2026.
No. The IFMRRC (International Financial Market Relations Regulation Center) is a private body, not a government regulator. It has no IOSCO membership, no enforcement power, and no investor compensation scheme. Several brokers in our “Not safe” list use IFMRRC to appear regulated. The same applies to FinaCom and IFC — voluntary industry bodies, not regulators.
We add newly verified brokers every month. If you want us to check a specific broker against the official registers, tell us which one — broker checks requested by readers are prioritised.