Unauthorized Forex Brokers
The platforms below are not authorized by the SPK in Türkiye. Some are global brokers regulated abroad; others are high-risk sites with heavy withdrawal complaints. Unauthorized platforms offer no investor protection. The list is sorted from lowest to highest FX Trust Score.
Risk warning. Leveraged forex trading carries high risk and, in Türkiye, is subject to SPK regulation (1:10 leverage cap, ~50,000 TRY margin). This content is not investment advice; user statements belong to their authors.
- 1Prime Capital InvestmentHigh Risk
Is Prime Capital Investment reliable? Prime Capital Investment is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 2NordexHigh Risk
Is Nordex reliable? Nordex is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 3Corporate BrokersHigh Risk
Is Corporate Brokers reliable? Corporate Brokers is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 4Capital TraderHigh Risk
Is Capital Trader reliable? Capital Trader is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 5Index FXHigh Risk
Is Index FX reliable? Index FX is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 6Klas ForexHigh Risk
Is Klas Forex reliable? Klas Forex is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 7Lotas CapitalHigh Risk
Is Lotas Capital reliable? Lotas Capital is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 8Trade PrimeHigh Risk
Is Trade Prime reliable? Trade Prime is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 9ExenMarketsHigh Risk
Is ExenMarkets reliable? ExenMarkets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 10Meta VinovaHigh Risk
Is Meta Vinova reliable? Meta Vinova is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 11Plus MarketsHigh Risk
Is Plus Markets reliable? Plus Markets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 12Korkmaz FinansHigh Risk
Is Korkmaz Finans reliable? Korkmaz Finans is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 13RunMarketsHigh Risk
Is RunMarkets reliable? RunMarkets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 14nTraderHigh Risk
Is nTrader reliable? nTrader is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 15JoyFxHigh Risk
Is JoyFx reliable? JoyFx is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 16FB MarketsHigh Risk
Is FB Markets reliable? FB Markets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 17InfoglobalHigh Risk
Is Infoglobal reliable? Infoglobal is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 18December GlobalHigh Risk
Is December Global reliable? December Global is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 19GanoPrimeHigh Risk
Is GanoPrime reliable? GanoPrime is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 20W2ForexHigh Risk
Is W2Forex reliable? W2Forex is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 21Harmonic InvestmentHigh Risk
Is Harmonic Investment reliable? Harmonic Investment is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 22Theos MarketsHigh Risk
Is Theos Markets reliable? Theos Markets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 23AvenorHigh Risk
Is Avenor reliable? Avenor is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 24Base MarketsHigh Risk
Is Base Markets reliable? Base Markets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 25Cryon FXHigh Risk
Is Cryon FX reliable? Cryon FX is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 26Fortunex TradeHigh Risk
Is Fortunex Trade reliable? Fortunex Trade is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 27NiptolaxHigh Risk
Is Niptolax reliable? Niptolax is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 28Phase GlobalHigh Risk
Is Phase Global reliable? Phase Global is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 29Winex GlobalHigh Risk
Is Winex Global reliable? Winex Global is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 30LC MarketsHigh Risk
Is LC Markets reliable? LC Markets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 31Felix MarketsHigh Risk
Is Felix Markets reliable? Felix Markets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 32B-TraderHigh Risk
Is B-Trader reliable? B-Trader is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 33TFG IstanbulHigh Risk
Is TFG Istanbul reliable? TFG Istanbul is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 34FutbitHigh Risk
Is Futbit reliable? Futbit is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 35Broker HFHigh Risk
Is Broker HF reliable? Broker HF is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 36Forex CGHigh Risk
Is Forex CG reliable? Forex CG is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 37Dijital BorsHigh Risk
Is Dijital Bors reliable? Dijital Bors is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 38InfotraderHigh Risk
Is Infotrader reliable? Infotrader is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 39Expres GroupHigh Risk
Is Expres Group reliable? Expres Group is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 40BlockearnersHigh Risk
Is Blockearners reliable? Blockearners is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 41Piramit ŞubeHigh Risk
Is Piramit Şube reliable? Piramit Şube is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
0 complaints0.4 - 42Fidor GlobalHigh Risk
Is Fidor Global reliable? Fidor Global is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
1 complaints1.7 - 43SMH MarketsHigh Risk
Is SMH Markets reliable? SMH Markets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
1 complaints1.7 - 44Order InvestHigh Risk
Is Order Invest reliable? Order Invest is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
1 complaints1.7 - 45Silver GroupHigh Risk
Is Silver Group reliable? Silver Group is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
1 complaints1.7 - 46MetaPrimeHigh Risk
Is MetaPrime reliable? MetaPrime is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
1 complaints1.7 - 47Vertex MarketsHigh Risk
Is Vertex Markets reliable? Vertex Markets is not authorized by the SPK and is among platforms blocked for unauthorized forex activity. Unauthorized platforms offer no investor protection and carry a high fraud risk.
1 complaints1.7 - 48FXTMNot SPK Authorized
Is FXTM reliable? FXTM holds licenses from FSCA, FSC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints5.7 - 49FBSNot SPK Authorized
Is FBS reliable? FBS holds licenses from FSC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
1 complaints6.1 - 50TickmillNot SPK Authorized
Is Tickmill reliable? Tickmill holds licenses from FCA, CySEC, FSA but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints6.9 - 51RoboForexNot SPK Authorized
Is RoboForex reliable? RoboForex holds licenses from FSC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
1 complaints7.0 - 52Plus500Not SPK Authorized
Is Plus500 reliable? Plus500 holds licenses from FCA, CySEC, ASIC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.0 - 53eToroNot SPK Authorized
Is eToro reliable? eToro holds licenses from CySEC, FCA but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.0 - 54DerivNot SPK Authorized
Is Deriv reliable? Deriv holds licenses from MFSA, LFSA, VFSC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.0 - 55XTBNot SPK Authorized
Is XTB reliable? XTB holds licenses from KNF, FCA, CySEC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.1 - 56HFM (HotForex)Not SPK Authorized
Is HFM (HotForex) reliable? HFM (HotForex) holds licenses from FCA, CySEC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.2 - 57Capital.comNot SPK Authorized
Is Capital.com reliable? Capital.com holds licenses from CySEC, FCA but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.2 - 58Octa (OctaFX)Not SPK Authorized
Is Octa (OctaFX) reliable? Octa (OctaFX) holds licenses from CySEC, FSCA but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.4 - 59FxProNot SPK Authorized
Is FxPro reliable? FxPro holds licenses from FCA, CySEC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.7 - 60AdmiralsNot SPK Authorized
Is Admirals reliable? Admirals holds licenses from FCA, CySEC, ASIC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.7 - 61IGNot SPK Authorized
Is IG reliable? IG holds licenses from FCA, ASIC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.7 - 62XMNot SPK Authorized
Is XM reliable? XM holds licenses from CySEC, ASIC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
2 complaints8.5 - 63PepperstoneNot SPK Authorized
Is Pepperstone reliable? Pepperstone holds licenses from ASIC, FCA but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
1 complaints8.7 - 64ExnessNot SPK Authorized
Is Exness reliable? Exness holds licenses from CySEC, FCA but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
1 complaints8.8 - 65IC MarketsNot SPK Authorized
Is IC Markets reliable? IC Markets holds licenses from ASIC, CySEC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
1 complaints8.9 - 66AvaTradeNot SPK Authorized
Is AvaTrade reliable? AvaTrade holds licenses from CBI, ASIC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
1 complaints8.9
Frequently Asked Questions
Platforms not listed among the SPK’s official authorized institutions, offering very high leverage (1:500+) or guaranteed returns, or making withdrawals difficult, are usually unauthorized.
Stop trading, keep all correspondence/receipts, report to the SPK, and consider filing a criminal complaint with the Public Prosecutor. Details are in our Forex Scams guide.
Global brokers like XM and Exness are regulated abroad but have no SPK authorization in Türkiye; under local law they are unauthorized. They should be assessed separately from outright fraud platforms.