— 4 —
Darwinex (UK) — formerly TradeSlide (UK) — hybrid social trading / copy trading program
dbFX (Germany)
Deltastock (Bulgaria)
Destek (Turkey)
Destek Markets (UK) — former FCA-regulated UK subsidiary of Destek (Turkey), recently sold and re-branded as Britannia Markets (UK)
Direct FX (New Zealand) — do not confuse with Direct FX Trading Pty Ltd (Australia)
Direct FX Trading Pty Ltd (Australia) — business license permanently canceled by ASIC (October 2018) for ongoing compliance issues
Divisa UK Ltd - Divisa Capital (UK) — prime broker, now entering the retail market (May '17) —
re-branded (2018), see Equiti Capital (UK)
DMM .com Securities (Japan) — forex/CFD broker — parent of DMM FX Australia — no U.S. clients
DMM FX (Australia) — will cease operations on July 30, 2016
Dorman FX (US)
Dukascopy Japan K.K. (Japan) — new name of Alpari Japan K.K. after acquisition by Dukascopy (Switzerland)
Dukascopy (Switzerland) — FINMA-regulated online bank/broker — no U.S. clients
EasyForex (Cyprus) — renamed EasyMarkets (December 2015)
Easy FX Trade (UK) - aka Easy Trade Global (UK) — according to the FCA (Dec. 2018), this is a scam broker operating as a clone of Hantec Markets (UK)
Easy Invest (Montenegro)
EasyMarkets (Cyprus) — formerly EasyForex (Cyprus) — no U.S. clients
Easy Trade Global (UK) — see Easy FX Trade
EES FX (US) — IB for Pepperstone (Australia)
eFOREX (Panama)
E-Global (British Virgin Islands)
Emporium Capital (Cyprus) — new broker offering fx, CFD’s, futures, stocks, options, and bonds
England Foreign Exchange - EFX (Panama) — out of business
EQL-X (UK) — trading name of ACM Group Plc — no U.S. clients
EQL-X, LLC (US) — introducing broker for EQL-X (UK)
EQMarkets (SVG) — operated by Russian firm Infinity Trade Ltd (SVG)
EQTrades - Global Equity Brokers Belize Ltd (Belize) — Russian-owned — affiliated with EQMarkets ?
Equiti Capital (UK) — new retail division of prime broker Equiti UK Ltd - formerly Divisa Capital (UK) —
— currencies, metals and CFD’s
eToro (Cyprus)
eToroUSA (US) — IB for eToro (Cyprus) — not yet operational
ETX Capital (UK) — ETX has acquired the client book of bankrupt Alpari (UK)
EuropeFX - Maxiflex Global Investments Corp Ltd (Cyprus) — no U.S. clients
EvenForex (Dominica)
Evolve Markets Ltd (SVG) — unregulated FX/commodities/indices broker operating out of London — accounts denominated in bitcoin only —
no U.S. clients
Exante (Malta) — multi-asset broker — £10000 min. deposit
Excel Markets Ltd (New Zealand) — see Global Brokers NZ Ltd (New Zealand) — out of business
Exness Ltd (Cyprus)
Explore Markets Ltd (SVG / UK) — aka EM Financial Services Ltd — under FCA warning for falsely claiming UK regulation
Exto Capital (Switzerland) — out of business
EZTD (Cyprus) — new name of EZTrader (Cyprus) — recently licensed to operate in Japan — no U.S. or Canadian clients
EZTrader (Cyprus) — troubled (fined) Cyprus FX and CFD broker, recently renamed EZTD — no U.S. or Canadian clients
Falco FX (Cyprus) — out of business
Falcon Brokers Ltd (Cyprus) — license revoked by CySec for segregated funds irregularities; customer positions ordered closed; principals fined and banned from the financial industry.
Fast Brokers (US) — IB for various brokers
FastQuote Securities (Belize) — institutional broker
FBS - FBS Markets (Belize)
FIBO Group Holdings Ltd (Cyprus)
FIG FX (Seychelles) — out of business
Finexo (Germany)
FinFX (Finland) — acquired by BCFX Ltd (Cyprus) effective 6/1/15 — no longer operates as a retail forex broker
Finotec Trading UK Ltd (UK)
FinproTrading (UK) —
formerly Group 1 Trusted Broker, acquired by Coinexx (SVG) effective December 2018 — Finpro is no longer in business
First Rate FX (UK) — no U.S. clients
FIXI PLC (UK) — formerly FCA-regulated broker, ceased operations (Dec 2018) in coordination with the FCA
Fondex (Cyprus) - trading name of TopFX Ltd (Cyprus)
Forex4You - E-Global Trade and Finance Group, Inc (British Virgin Islands)
ForexBrokers .com (US) — broker rating service — do not confuse with Forex Broker Inc (Marshall Islands)
Forex Broker Inc (Marshall Islands) — no longer operates as a retail forex broker — now operates as an IB for 6 retail brokers
ForexCENT (Czech Republic)
Forex .CH (Switzerland)
Forex Club LLC (Russia)
Forex Club Ltd (British Virgin Islands ?)
Forex .com — retail division of Gain Capital Holdings Inc (US) — acquired client book of FXCM (US) Feb 2017
ForexCT Ltd - Forex Capital Trading Ltd (Vanuatu)
ForexCT Pty Ltd (Australia) — division of ForexCT Ltd (Vanuatu)
Forexee (SVG) — no U.S. clients — aka Forex.ee
Forex FS (Australia)
Forex Ltd (UK)
Forex Markets Ltd - forex-markets .org (Panama) — scam
ForexMart (Cyprus) — trading name of Instant Trading EU Ltd (Cyprus) — no U.S. clients
Forex-Metal (Panama) — recently removed from Group 1
Forex Nation (Australia)
Forex Optimum - Forex Optimum Group Limited (Russian company, registered in St. Vincent and the Grenadines)
Forex Place - 4xP (British Virgin Islands)
Forex TG Pty (Australia) — aka FXTG — currently under fraud investigation by Australian regulator ASIC
Forex Time Ltd (Cyprus) — CySec-regulated subsidiary of FXTM (Cyprus) — FCA-regulated in the U.K. — no U.S. clients
Forex Trend (Ukraine / New Zealand) — scam — bankrupt
Forex Ukraine (Ukraine) — IB for Forex Ltd (UK)
Forex Web Trader (Cyprus)
Forex Yard (Cyprus)
Formula Investment House Ltd (BVI) — one of the companies of iForex (Cyprus?) serving non-EU online traders — see also iForex, iCFD, and Vestle.
Fort Financial Services (Belize) — est. 2010 — no U.S. clients
Fort FS (Belize) — see Fort Financial Services (Belize)
Fort-FX (UK) — unregulated multi-asset broker — permanently banned by The Financial Commission (self-regulatory organization) — do not confuse with either Fortrade Ltd (UK) or Fort FS (Belize)
Fortrade Ltd (UK) — multi-asset broker, FCA-regulated
Fortress Prime (Dubai) — defunct prime brokerage, shut down by parent (Fortress Capital Investments) — SCAM — out of business
FP Markets (Australia) - First Prudential Markets (Australia) — CFD and FX broker
FreshForex (St. Vincent and the Grenadines) — Russian-owned — no U.S. clients
Friedberg Direct (Canada) — IIROC-regulated introducing broker, representing FXCM (UK) and AvaTrade (Ireland) — no U.S. clients
fsmSmart (Cyprus) — aka fsmSmart .com and FSM Smart Ltd — claims to have a “representative office” in Switzerland — blacklisted by Swiss regulator FINMA (Oct. 2018)
Fullerton Markets (New Zealand) — no U.S. clients
FT Global Ltd (Belize) — IFSC-regulated subsidiary of FXTM (Cyprus) — no U.S. clients
FX88 (Cyprus) - owned by Galactus Ltd (Cyprus) — CySEC-regulated — no U.S. clients
FXB Trading (St. Vincent and the Grenadines) - Fasco Capital Ltd (SVG)
FX Cast (Mauritius)
FXCBS (British Virgin Islands)
FXCC (Cyprus)
FXCH - Foreign Exchange Clearing House (Dominica) - a.k.a. Forex-Swiss.com (Dominica)
FX Choice (Belize) — Trusted Broker 
FXCL Markets Ltd (Ireland)
FXCM Group LLC (US) - subsidiary of Global Brokerage Inc (US), and parent of FXCM UK, FXCM Australia, etc.
FXCM Inc - Forex Capital Markets Inc (US) — de-listed NYSE corp., renamed Global Brokerage Inc (now a de-listed Nasdaq corp.) in Chap.11 bankruptcy as of Nov 2017
FXCM LLC - Forex Capital Markets LLC (US) — banned from the U.S., Feb 2017 — client book sold to Gain Capital (US)
FXCM (UK, Australia, Germany, South Africa, Israel, etc.) - international subsidiaries of FXCM Group LLC (US)
FX Company (Mauritius) — out of business (re-branded) — see FXVan (UK)
FXDD Global (Malta) — no U.S. clients; accepts Canadian clients
FX Dealer Direct - FXDD (US) — now restricted (by the NFA) to acting as an IB only
FXFair (Russia)
FXFlat (Germany) — Wertpapierhandelsbank GmbH (Germany)
FXGL - FXGL Capital Group Ltd (unknown location) — scam
FXGlory (Dubai, UAE)
FXGM (Cyprus)
FxGrow (Cyprus)
FXM Broker Group (Costa Rica?) — out of business
FXM Financial Services GmbH (Germany)
FX Markets Capital (UK) — trading name of Markets Capital Ltd (UK) — unregulated in the U.K.
FxNet Ltd (Cyprus)
FxOnUs (Malta) — owned by MarketsOnUs Ltd (Marshall Islands) — see MFSA (Malta) warning
FXOpen Company (Russia) — no U.S. clients — subsidiaries: FXOpen AU Pty Ltd (Australia),
FXOpen LP Limited (New Zealand), FXOpen Ltd (UK), FXOpen Markets Ltd (Nevis)
FXPIG - Prime Intermarket Group Asia Pacific Limited (Vanuatu) —no U.S. clients — Canadian clients accepted (depending on Canadian provincial regulations)
FX Primus (Cyprus) — trading name of Primus Global Ltd (Cyprus) — formerly known as FX Primus Europe Ltd (Cyprus) — do not confuse with Primus Capital Markets (UK) — no U.S. clients
FX Primus (Mauritius) — out of business — license suspended by Mauritius regulator in 2015
FxPro Financial Services Ltd (Cyprus)
FXPro UK Ltd (UK) — multi-asset broker — spread-betting added (UK residents only) Aug 2017
FX Salt (British Virgin Islands) — out of business
FX Solutions (Australia) — subsidiary of City Index (UK) / Gain Capital (US) — being phased out
FX Solutions (US) — out of business
FX Systems (domicile?) — parent company of 1LotStp, 1PipFix, 2PipsFixed, etc. — out of business
FXTF - FX Trade Financial Co. Ltd (Japan)
FXTG (Australia) — scam broker run by founder of Israeli scam broker UTrade — see Forex TG Pty (Australia)
FXTM (Cyprus) — parent of Forex Time Ltd (Cyprus) and FT Global Ltd (Belize)
FXtradeweb (Estonia)
FXT Swiss (Switzerland)
FX United (New Zealand) — United Global Holdings Ltd (NZ) — not regulated — no U.S. clients — SCAM per ForexPeaceArmy
FXVan - FXVan Global Ltd (UK) — new name of FX Company (Mauritius) now out of business
FXVV (United Arab Emirates) — out of business
Gain Capital Holdings Inc (US) — see Forex .com — largest U.S. forex broker (approx. 58% market-share as of Feb 2017)
Gainmax Capital Ltd (UK?) — scam, ponzi scheme (per FCA) — website currently blocked for malicious content (per Malwarebytes)
Gainsy Inc (St. Vincent and the Grenadines)
Gaitame Online Co. Ltd (Japan) — owned by Compagnies Financière Tradition - CFT (Switzerland) – no U.S. clients
Gallant Capital Markets (British Virgin Islands) — acquired by WSM Invest (New Zealand) 2014 — declared bankruptcy April 2017
GBE Brokers (Malta) - a.k.a. Sensus Captial Markets (Malta) — sold to Nicky Kundnani, fraudster wanted by police in the U.S. for fraud and theft — SCAM
GDMFX (New Zealand) — no U.S. or New Zealand clients
Gem Forex (Seychelles) — may be the same company as G Forex (Seychelles)
GemFX (UK)
G Forex (Seychelles) — scam
GFT Markets (UK) — trading name of Gain Capital - Forex .com (UK) — being phased out
GFT Markets (Australia) — trading name of Gain Capital - Forex .com (Australia) — being phased out
GFX Group SA (Switzerland) — corporate name of Forex .CH (Switzerland)
GKFX (UK) – GKFX Financial Services Ltd (UK) — subsidiary of Global Kapital Group Ltd (UK) — no U.S. clients
GKFX-ECN – GKFX Internet Yatirimlari Ltd (Russia) — international operations of parent company GKFX (UK)
Global Brokerage Inc (US) — successor to FXCM Inc (US) eff. Feb 2017 after the SNB debacle — now de-listed from Nasdaq – as of Jan 2018, no longer in Chap.11 bankruptcy
Global Brokers NZ Ltd (New Zealand) — bankrupt — out of business
Global Capital Markets Trading (South Africa) — see CMTrading
Global Futures (US)
Global Prime (Australia)
GMO Click (Japan) — world’s largest fx brokerage (by trading volume) — trading member of the TFX Click365 system (see above)
GMO Financial Holdings Co. Ltd (Japan) — new name (as of Oct 2017) of GMO Click (Japan), see above
Golden Markets - Cool Markets Ltd (Estonia) — forex and cryptocurrency trading — currently a target of the FCA for unauthorized business activity in the UK
GO Markets (Australia)
GO Markets (UK) — former subsidiary of GO Markets (Australia), now re-branded as Infinox Capital (UK)
Got Money FX (Australia)
GQ Capital Inc (Belize) — new broker (March 2018)
Grand Capital Ltd (Seychelles)
Greenvault FX - GV Global Ltd (New Zealand) — no U.S. clients
GTCM (Cyprus) — parent company is Depaho Ltd (Cyprus) — appears to accept U.S. clients
GTL Forex (United Arab Emirates)
GTX - Gain GTX LLC (US) — institutional division (prime broker and ECN) of Gain Capital Holdings Inc (US) — sold to 360T (German) Deutsche Boerse AG institutional brokerage division for $100M (May 2018)
Gulliver FX (UK) — out of business
GVS AU Pty Ltd (Australia) — re-branded trading name of IronFX (Australia) — ASIC-regulated
Halifax Investment Services Pty Ltd (Australia) — placed in receivership (Nov. 2018) and apparently bankrupt — suspended (Jan 2019) by Australian regulator ASIC
Hantec Markets (UK)
Heart Forex (Belize) — parent is Heart Capital Ltd (Belize)
Hedgestone Group (Belize) — binary options broker (Russian ?)
Henyep Capital Markets (UK) Ltd — FCA-regulated FX and CFD broker — UK subsidiary of Henyep Holdings (BVI) Ltd
HF Markets Ltd (Mauritius) — corporate name of HotForex (Mauritius) — no U.S. clients
HF Markets (DIFC) Ltd (UAE) — corporate name of HotForex (UAE) in Dubai — no U.S. clients
HF Markets (SV) Ltd (SVG) — corporate name of HotForex (SVG) — no U.S. clients
Hirose Financial Ltd (UK) — no U.S. clients
HMS LUX (Luxembourg)
Hoard FX (Belize) — scam
HotForex (Mauritius, UAE, SVG) — trading names of HF Markets Ltd (Mauritius), HF Markets (DIFC) Ltd (UAE), and HF Markets (SV) Ltd (SVG)
Hotspot FX (UK) — institutional ECN broker — owned by securities exchange BATS Global Markets
House of Borse (UK) — FCA-regulated broker catering to institutional clients in the Middle East and North Africa (MENA) region
HQBrokers (Marshall Islands) — scam — operated from Ukraine — shut down (along with Trade12 broker) by Ukrainian police as criminal enterprise (Dec 2018)
Hugosway (SVG?, Seychelles?) — appears to be successor to JAFX (SVG) — website lists address in Seychelles — Terms and Conditions specify SVG as place of incorporation
HYCM Europe (Cyprus) — CySec-regulated division of HYCM (UK)
HYCM - HY Capital Markets (UK)
HY Markets (UK) — renamed HYCM (see above)
IamFX (Panama)
IBFX Australia, Pty Ltd (Australia) — owned by TradeStation (division of Monex Group - Japan) — being sold to Oanda (Aus)
IBFX (US) — forex brokerage division of TradeStation (US) — currently being sold to Oanda (US)
icetrader .com — domain name of Glistentree Holdings (Cyprus) — no longer authorized by CySEC — defunct, out of business
IC Markets (Australia)
iCFD (Cyprus) — one of the companies of iForex Group (Cyprus?) — re-branded (Jun 2018) as Vestle (Cyprus) in order to become an ESMA-compliant EU broker
ICM Capital Ltd (UK) — rebranded in August 2018 as ICM .com (UK) — no U.S. clients
ICM .com (UK) — new name of ICM Capital Ltd (UK) and other ICM entities worldwide — no U.S. clients
ICM Capital Markets (Belgium?) — do not confuse with ICM Capital Ltd (UK) — see iTrade Capital Markets
IFC Markets (British Virgin Islands) — no U.S. clients
iForex Group (Cyprus?) — parent of ICFD (Cyprus) online forex broker serving the EU, and currently (Jun 2018) being re-branded as Vestle (see below) — also parent of Formula Investment House Ltd (BVI) serving non-EU clients
IFX Markets (Australia) — subsidiary of City Index (UK) / Gain Capital (US)
IG Markets (Australia)
IG Markets (UK) — forex, CFD, and spread-betting broker — applying for CFTC/NFA registration as retail forex broker (RFED) in the U.S. (application dated November 2017)
IGM Forex Ltd (Cyprus) — license temporarily suspended by CySEC (July 2018) for capital adequacy issues
IKOFX (British Virgin Islands / New Zealand) — no longer accepts U.S. residents
IKON Finance Ltd (UK) — preparing to reenter retail FX market after successfully addressing suspension by FCA in March 2017 — do not confuse with IKON Global Markets (US) or IKON Markets Ltd (Belize/Bulgaria)
IKON Global Markets (US) — apparently not out of business (as reported here previously) — a U.S. court in Illinois entered a $23M fraud judgement against this broker in August 2017
IKON Markets Ltd (Belize/Bulgaria)) — boiler-room scam operating under various names: IKON Markets Ltd, Iconics PS Ltd, Hedgestone Group. Belize IFSC has issued a warning that these entities are unauthorized in Belize.
Infinox Capital (UK) — new name of GO Markets (UK), former subsidiary of GO Markets (Australia)
InovaTrade (Panama)
Insta Forex (Russia/BVI)
Institutional Liquidity - ILQ (Australia) — CFTC regulated, NFA member
Integral Forex (Turkey) — div. of Integral Menkul Degerler (Turkey) — partner of Dukascopy (CH)
IntelFX (New Zealand)
Interactive Brokers (US)
Interbank FX - IBFX (US) — owned by TradeStation (US) which is a subsidiary of Monex (Japan)
Internaxx (Luxembourg) — currently (August 2018) being acquired by Swissquote (Switzerland)
InterTrader .com (UK) — spread-betting
Invast Financial Services Pty Ltd (Australia) - subsidiary of Invast (Japan) — institutional and prime brokerage services
Investors Europe (Gibraltar)
IQ Option (Cyprus) — formerly options-only broker, now offering leveraged FX and CFD’s — no U.S. clients
IronFX Global Ltd (Cyprus) — CySEC-regulated — see 8Safe UK Ltd (UK) and GVS AU Pty Ltd (Australia)
iTrade Capital Markets (Belgium?) — do not confuse with iTraderFX (Israel) or with iTradeFX LLC (British Virgin Islands?)
iTraderFX (Israel) — binary options dealer now entering the FX market
iTradeFX LLC (British Virgin Islands?) — out of business
IV Brokers (Belize)
JAFX Ltd (SVG) — call-centers in U.K. and Australia — no U.S. clients
JFD Brokers (Cyprus)
JFX - Jiffix Markets Ltd (Cyprus) — out of business — clients transferred to Traders Trust (Cyprus)
Juno Markets (New Zealand) — very new — mainly focused on the Asian FX market — no U.S. clients
JustForex (Belize) - trading name of IPCTrade Inc (Belize) — FX and crypto trading — no U.S. clients
KAB Strategy Ltd (Cyprus) — no U.S. clients
Kabu .com — Kabu .com Securities Co. Ltd (Japan) — subsidiary of Mitsubishi UFJ Financial Group — a TFX Click365 broker
Kinetic Securities (Australia)
KVB Kunlun
(Hong Kong) — acquired by CITIC Securities (China) in 2015 —
parent of FCA - regulated KVB Prime (UK)
LandFX UK Ltd (UK) — subsidiary of LandFX (New Zealand) — FCA license granted June 2016
Larson and Holz IT Ltd (Hong Kong) — no U.S. clients
Latitude FX (New Zealand)
LCG .com (UK) — see London Capital Group Ltd (UK) — no U.S. clients
LeadCapital Group (Cyprus) - parent of LeadCapital Markets Ltd — also parent of LeadCapital Partners (Seychelles) which operates newly-formed FINQ .com in the Asian market
LeadCapital Markets Ltd (Cyprus) — operates as Trade .com (Cyprus) in the European market
LegacyFX (Cyprus) — founded in 2015, owned by technology company Leverate (Cyprus) — operation [U]suspended[/U]
Leverate (Cyprus) — liquidity provider — see CWM FX
Libertex - Indication Investments Ltd (Cyprus) — multi-asset broker, online platform
Libra FX (Anguilla) — out of business
Lionstone Investment Services (Russia) — binary options broker — reportedly going out of business
LiteForex (Marshall Islands) — unregulated subsidiary of LiteForex Ltd (Cyprus)
LiteForex Ltd (Cyprus) — CySEC-regulated broker — parent of LiteForex (Marshall Islands)
Liquid Markets - LQD Markets (UK) — bankrupt — seeking buyer
LMAX Exchange Group (UK) — FCA-regulated multi-lateral trading facility (MTF)
LMAX Global (UK) — new brokerage name, spun off from LMAX Exchange to meet new MiFID II requirements
LMFX (Macedonia) — Trusted Broker 
London Capital Group Holdings plc - LCG Group (UK) — currently facing bankruptcy — financially troubled parent of London Capital Group Ltd (UK) (currently being spun off), and London Capital Group (Cyprus) Ltd.
London Capital Group Ltd (UK) — FCA-regulated broker (forex, CFDs, spread betting) owned (and currently being spun off) by LCG Group (UK)
London Capital Group (Cyprus) Ltd (Cyprus) — CySEC-regulated broker owned by LCG Group (UK)
London Spreads (UK) — see London Capital Group Ltd (UK)
Loyal Forex (British Virgin Islands) — (and parent company FX Systems) — out of business
LQDFX (The Marshall Islands)
LQD Markets (UK) — see Liquid Markets — do not confuse with LQDFX (The Marshall Islands)
Lucror FX (New Zealand)
Magna FX - Magna Trust Securities and Investment Services, S.A. (Greece) — no U.S. clients
MahiFX (Australia) — no U.S. clients
Marketiva (Montenegro) — see AGEA (Montenegro)
Markets Capital Ltd (UK) — trading as FX Markets Capital (UK) — currently under scrutiny by the FCA
Markets .com (Cyprus) — owned by TradeFX Ltd - UK (recently acquired by gaming company PlayTech)
MasterForex (Russia/Georgia/Belize) — see Master Services (Russia/Belize), MFX Broker (Georgia), and MFX Broker (Belize)
Master Services Inc (Russia/Belize) — operating as MFX Broker Belize, and MFX Broker Georgia
Matador Prime (Bulgaria) — de-listed by Bulgarian FSC (October 2018) which results in de-listing by MiFID
MaximusFX (Ukraine / Russia / Nigeria) — trading name of Maximus Markets Ltd (SVG)
Mayzus Investment Company Ltd (Cyprus)
MB Trading (US) — acquired by TradeKing (US) — MB Trading exited the forex market October 2015
MCM FX - Miffs Capital Management Ltd (UK) — no U.S. clients
Mercor Index (UK) — former name of TigerWit Ltd (UK) prior to acquisition by TigerWit (Bahamas)
Merex Markets (Republic of Georgia) — scam
MEX Group Worldwide Ltd (domicile?) — parent of MultiBank Forex Exchange Corp (US), and MultiBank FX International Corp (BVI)
MF Financial (Belize) — see MFFX (Belize) — out of business
MFFX (Belize) — out of business
MF Global (UK) — in reorganization — formerly a subsidiary of MF Global Holdings Ltd (UK)
MF Global Finance USA Inc. (US) — bankrupt — subsidiary of MF Global Holdings Ltd (UK)
MF Global Holdings Ltd (UK) — bankrupt
MFX Broker Belize (Belize) — see Master Services Inc (Russia/Belize) — do not confuse with MFFX (Belize)
MFX Broker Georgia (Republic of Georgia) — see Master Services Inc (Russia/Belize)
MFX Trade (Australia) — retail trading platform of MahiFX (Australia) — do not confuse with MFX Broker (Belize / Georgia)
MIG Bank (Switzerland) — see Swissquote (Switzerland)
Milltrade Ltd (Marshall Islands) — scam — bankrupt — merged with MMCIS (see below)
MMA Forex (Dubai) — brokerage arm of MMA Group (Dubai) — SCAM — ponzi-scheme, shut down by Dubai authorities
MMA Bank GT (Dubai) — new name of reorganized MMA Forex — warnings issued in Sweden, Ireland, and Switzerland
MMCIS (Ukraine / Marshall Islands) — scam — bankrupt — merged with Milltrade Ltd (Marshall Islands)
Monex (Japan) — parent of TradeStation (US) — do not confuse with Monex Deposit Co. (US). or Monex Credit Co. (US), both charged with fraud by the CFTC in Sept '17.
Money Partners FX - Money Partners Group Co. Ltd. (Japan) — Japanese customers only
MRC Markets (Russia) — scam
MTrading (SVG) — trading name of ServiceComSvgLtd — no U.S. clients
MultiBank Forex Exchange Corp (US) —
MultiBank FX International Corp (BVI) — online broker with branches throughout Asia, UAE, Cyprus, and western Europe
MXT Global Pty Ltd (Australia) — renamed Vantage Global Prime Pty Ltd (Australia)
MXTrade - Lau Global Services Corp (Belize) — KROUFR blacklisted — scam — do not confuse with MXT Global (Australia)
NatureForex (Belize) — no U.S. clients
NinjaTrader (US) — IB for FXCM (US)
NordFX (Mauritius) — subsidiary of NFX Capital MU Inc (Mauritius)
Nord Markets (Sweden)
NPBFX (Belize) — Russian-owned (subsidiary of Nefteprombank), offices in London and Belize — no U.S. or EU clients
NSFX (Malta) — no U.S. clients
Oanda (US) — second-largest U.S. forex broker (after Gain Capital) — controlling interest (98.5%) in Oanda purchased (June '18) by CVC Partners Asia Fund (private)
OctaFX (St. Vincent and the Grenadines) — no U.S. clients — FCA-licensed (UK) — focused on the APAC region
ODL Markets (UK)
Olsson Capital (Bulgaria) — forex, CFD’s and cryptocurrencies — targeting UK clients, currently blacklisted by FCA
OlympTrade (Seychelles / Cyprus) — binary options dealer owned by Smartex International Ltd (Seychelles) and Frandom Holding Ltd (Cyprus) reported to be Russian companies
OMFinancial (New Zealand)
Onasis IBC (Seychelles)
One Financial Markets (UK) — FSA (UK) and FSB (SA) regulated broker, focused on Middle East and s. Asian markets — being acquired by AxiCorp (Australia) as of August 2018
OneTrade (UK) — new STP broker with social- and copy-trading focus — owned by FxStat (UK)
Orbex Ltd (Cyprus)
OSG Forex - Optimum Standard International Group Ltd (domicile?) — claims to be Hong Kong domiciled and registered — but, in Oct 2017, Hong Kong SFC said those claims are fraudulent
(Alphabetical List - continued in post #5)