Forex Scam Investigations Exposed Review 2026

Pepperstone

Razor + Standard

From From 0.0 pips

Pepperstone is FCA-regulated (684312) with offices in London, plus ASIC, CySEC, DFSA, BaFin, CMA and SCB authorisations, one of the most heavily regulated retail FX brokers in the world. UK clients are FSCS-protected up to £85,000. The Razor account offers raw institutional spreads from 0.0 pips with a £5 round-turn commission per lot. Pepperstone supports the broadest platform line-up in the UK market: MT4, MT5, cTrader, TradingView and the Pepperstone proprietary app, with execution averaging 30ms.

IC Markets

Raw Spread + Standard + cTrader

From From 0.0 pips

IC Markets is widely regarded as one of the world's leading ECN brokers, founded in Sydney in 2007. UK and EU clients are onboarded through IC Markets (EU) Ltd, regulated by CySEC, with passporting into the UK. The Raw Spread account averages 0.0–0.2 pips on EUR/USD with a $7 round-turn commission per lot. Execution averages 40ms via Equinix NY4 and LD5 servers with no dealing-desk intervention, making it the benchmark choice for scalpers, EAs and high-frequency traders.

XM Group

ECN + Standard

From From 0.0 pips

XM Group is one of the most recognized names in online trading, serving over 10 million clients from 190+ countries. The broker offers a wide range of instruments with competitive trading conditions, including zero re-quotes, no hidden fees, and flexible leverage options up to 1:1000. XM's extensive educational program includes daily webinars, market research, and video tutorials, making it particularly attractive for beginners and intermediate traders.

IC Markets

Raw Spread + Standard + cTrader

From From 0.0 pips

IC Markets is widely regarded as one of the world's leading ECN forex brokers, founded in 2007 in Sydney, Australia. The broker is multi-regulated by ASIC, CySEC and the FSA Seychelles, and provides traders with true ECN execution through Equinix NY4 and LD5 servers. IC Markets is a benchmark for low spreads, the Raw Spread account routinely averages 0.0–0.2 pips on EUR/USD with a $7 round-turn commission per lot. Execution averages around 40ms with no dealing desk intervention, making it a preferred home for scalpers, high-frequency traders, and Expert Advisors. Platform choice covers MT4, MT5 and cTrader, plus full FIX API access for institutional clients. IC Markets supports over 2,250 instruments across forex, indices, commodities, bonds, stocks and crypto CFDs, with leverage up to 1:500 on retail accounts outside the EU/UK.

IG

Spread Bet + CFD + Share Dealing

From From 0.6 pips

IG Group is the UK's most established forex and CFD broker, FCA-authorised since 1974 and listed on the London Stock Exchange (FTSE 250). With over 313,000 active clients globally and £640bn+ in monthly trading volume, IG offers access to 17,000+ instruments including 90+ currency pairs. UK retail clients trade with FCA protection, FSCS coverage up to £85,000 and negative balance protection. Spreads from 0.6 pips on EUR/USD, with custom-built web platform, MT4, ProRealTime and IG's award-winning mobile app.

CMC Markets

Spread Bet + CFD

From From 0.7 pips

CMC Markets is a FTSE 250 listed broker founded in London in 1989. Authorised by the FCA (173730) with FSCS protection, CMC offers spread betting and CFDs across 12,000+ instruments including 330+ FX pairs, the widest currency range in the UK market. Its proprietary Next Generation platform routinely wins UK awards for charting, with 115+ technical indicators, pattern recognition tools and integrated client sentiment. Spreads on EUR/USD average 0.7 pips with no commission on standard accounts.

Saxo

Classic + Platinum + VIP

From From 0.4 pips

Saxo Markets is the UK arm of Saxo Bank, a fully licensed Danish investment bank operating since 1992. FCA-authorised (551422) with FSCS protection, Saxo offers institutional-grade access to 70,000+ instruments, forex, stocks, bonds, options, futures and ETFs, through SaxoTraderGO and SaxoTraderPRO. Spreads from 0.4 pips on EUR/USD on the VIP tier, with tiered pricing rewarding higher-volume traders.

Plus500

Retail CFD

From From 0.8 pips

Plus500UK Ltd is FCA-authorised (509909) and listed on the LSE Main Market (FTSE 250). Founded in 2008, Plus500 serves 25M+ registered customers with a clean, mobile-first proprietary platform, no MT4/MT5 here. Trades cover 2,800+ CFD instruments including 70+ forex pairs. UK clients are FSCS-protected and benefit from negative balance protection plus optional guaranteed stop-loss orders.

eToro

Retail Investor + CFD

From From 1.0 pip

eToro (UK) Ltd is FCA-authorised (583263) with full FSCS coverage. The world's largest social trading network with 30M+ registered users, eToro pioneered CopyTrader (one-click copying of vetted traders) and Smart Portfolios. UK clients get commission-free stock and ETF investing alongside CFDs on 1,000+ instruments. Forex spreads on EUR/USD start from 1.0 pip; the all-in-one app handles stocks, crypto, FX and copy investing.

XTB

Standard + Pro

From From 0.5 pips

XTB is a Warsaw Stock Exchange listed broker (XTB.WA) founded in 2002. The UK arm, X-Trade Brokers DM SA (UK Branch), is FCA-authorised (522157). XTB's proprietary xStation 5 platform consistently wins UK industry awards for usability and charting. UK clients trade 5,800+ instruments, forex, indices, commodities, stocks and ETFs, with 0% commission on real stocks/ETFs under £85k monthly turnover. EUR/USD spreads average 0.5 pips on the Standard account.