Brokers that should be carefully researched before signing up
These brokers score low on independent trust indices or exhibit recurring complaint patterns in published reviews. This is not a legal finding of fraud — it is a signal that additional due diligence is required. Sources are specified in the full review of each broker.
Exclusive Markets
Puan 2.0/5Exclusive Markets is a CFD broker founded in 2017 that holds only offshore licenses (FSA Seychelles and FSCA). Independent review sources report a low trust score and recurring withdrawal complaints; we recommend evaluating these risks carefully before opening an account.
- –Offshore licenses only (FSA Seychelles + FSCA), no tier-1 regulation
- –An independent field research could not verify a physical presence at the declared Cyprus/Seychelles addresses
- –Independent review sites report a very low trust score and recurring withdrawal/frozen balance complaints
LHFX
Puan 2.8/5LHFX (formerly LonghornFX) is a CFD broker rebranded in 2025 that holds only offshore licenses (FSC Mauritius and FSCA). Although independent reviews view deposit/withdrawal convenience positively, complaints regarding slippage and withdrawal delays are also reported; we recommend evaluating these risks before opening an account.
- –Offshore (FSC Mauritius + FSCA) licenses only, no tier-1 regulation
- –Rebranded from LonghornFX to LHFX in 2025; short and mixed corporate history
- –Independent reviews report complaints regarding slippage/order manipulation allegations, withdrawal delays, and bonus advertising
Versus Trade
Puan 3.0/5Versus Trade is a new-generation CFD broker founded in 2024, notable for its MetaTrader 5 infrastructure and its proprietary 'Versus Pairs' product. It operates under a Mauritius FSC license; accounts can be opened with the FXPARTNER partner code.
- –Founded in 2024, short operating history
- –Offshore license only (Mauritius FSC), no tier-1 regulation
- –Some user reviews report withdrawal/profit cancellation complaints
- –Offers MT5 only, no MT4 support
TradingPRO
Puan 1.8/5TradingPRO is a CFD broker offering forex, indices, commodities, and crypto trading with leverage up to 1:2000 and a minimum deposit of $1. It holds offshore licenses (FSCA South Africa, FSC Mauritius) but lacks tier-1 regulation, and was placed on the UK FCA's unauthorized firm warning list in mid-2025.
- –Offshore licenses only (FSCA + FSC Mauritius), no tier-1 regulation
- –Listed on the UK FCA unauthorized firm warning list (June 2025)
- –Independent review sites report a very low trust score alongside an explicit 'stay away' warning and multiple documented withdrawal delay/refusal complaints
Have you had a bad experience with a broker?
Submit a complaint, and we will reflect verified and recurring patterns on this page and in our ratings.
Submit ComplaintFrequently Asked Questions
Does being on this list mean a brokerage firm is a scam?+
No. This is not a legal finding of fraud — it means the broker has received low scores on independent trust indexes or has a recurring, sourced complaint pattern (mostly related to withdrawals), making it worth conducting additional due diligence before opening an account. Concrete evidence is specified in each broker's full review.
How is a broker added to this list?+
Only brokers that already have a concrete, sourced complaint pattern or an independent trust score reference in their review are added — an unverified claim is never added. The same evidence is also featured on that broker's own review page.
What should I do if I already have an account with a flagged broker?+
Read the specific concerns outlined on that broker's review page and consider testing a small withdrawal to verify that the process works as expected. If you have experienced a documented issue yourself, you can submit a complaint to FXPARTNER.