Watch Out For These Unregulated Brokers Tagged As Unauthorized Firms By FCA - 1/9/2023
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.
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.
Download and install the WikiFX App from the download link below to stay updated on the latest news, even on the go. You can also download the app through the App Store or Google Play Store.
Download link: https://www.wikifx.com/en/download.html
Related broker
Read more
IUX Review:Before Investing a Single Penny, Read These Jaw-Dropping Deposit & Withdrawal Experiences
IUX, despite having an operational presence for approximately a decade, continues to face allegations from users regarding its several trading aspects. These include complaints on withdrawal processing, deposit failure, and even wide slippages that eat into users’ margins. For some, withdrawals were never executed, for others, withdrawal processing remained only on paper. On the other hand, some’s deposits fail to show on the IUX login even after 45 days of the transaction initiation date. Concerned by these seemingly suspicious trading incidents, users hit out on several review platforms such as WikiFX. This IUX review examines these user allegations while providing a regulatory framework the broker adheres to.
ForexDana Review 2026: Traders Report Losses—But What Happened Behind the Trades?
A brokerage operation history of over six years without any clarity of the accounts offered. This stunning fact allegedly applies to ForexDana. While this has been a major concern on the transparency front, user experiences concerning suspicious deposit failures and trade manipulation have not been good for the broker’s reputation either. In this ForexDana review, we have attempted to find the reason behind the growing user frustration, not only through their complaints but also what possibly could have led to these complaints. Yes, you heard it right! We are going to probe the ForexDana regulation status. This will help you make the right financial decision.
Saxo Exposure Report 2026: Withdrawal Delays and Transfer Disputes Leave Traders Concerned
As you look forward to reading the Saxo reviews, you come across both positive and negative user experiences concerning trading. However, what makes prospective users dwell more is the significant insight shared through negative experiences compared to positive ones. The negative experiences are more detailed around fund withdrawals and deposits. Although they are allegations, they represent a disturbing picture. For example, we came across a case where a user highlighted the inability to trade an instrument, which is actively traded in the market. We have examined the recent allegations against the brokerage firm in this in-depth review. At the same time, we have provided a thorough look into the broker’s regulatory framework
Indian Stocks Rally, but the Rupee Breaks a Six-Day Winning Streak—What's Behind the Sudden Reversal
Indian stock indices today, i.e., June 22, 2026, recorded growth, with the BSE Sensex rising 297.11 points to 77,094.07, recording a 0.38% jump. On the other hand, the NSE Nifty hit approximately 24100, largely aided by broad-based purchases across sectors, except for consumer durables and fast-moving consumer goods (FMCG). The Nifty grew by 89.80 points (0.37%+) to 24,102.90.
WikiFX Broker
Latest News
Review 2026: Interactive Brokers Regulation, Complaints, and Platform Access
WikiFXReview 2026: STMARKET Regulation, MT5 Access, and Withdrawal Complaint
WikiFXHow the Bullet Theory Fixes the Habit of Overtrading
WikiFXEMIRAX MARKETS Review 2026: Unregulated Status, High Leverage, and Withdrawal Complaints
WikiFXEMAR MARKETS Review 2026: Complaints, High Leverage, and Withdrawal Risk Signals
WikiFXRCG Markets Review 2026: Is This Forex Broker Safe?
WikiFXThai Authorities Seize Assets in Forex Ponzi Investigation
WikiFXTrading the Forex Range: How to Find Boundaries and Avoid Middle Entries
WikiFXHMFS Review 2026: Should You Trade with This Broker?
WikiFXDSI Exposes Alleged Forex Empire Behind Billion Baht Scam, Money Laundering and Political Connection
WikiFXRate Calc
