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 may only be offered by SPK-authorised intermediaries; leverage is capped at 1:10 (half of that may apply if the initial margin at account opening is below TRY 50,000). This content is not investment advice; user statements belong to their authors.
- 1Fidor 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 complaints1.6 - 2SMH 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 complaints1.6 - 3Order 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 complaints1.6 - 4MetaPrimeHigh 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 complaints1.6 - 5Vertex 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 complaints1.6 - 6Silver 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 complaints1.8 - 7Prime 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 complaints1.8 - 8NordexHigh 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 complaints1.8 - 9Corporate 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 complaints1.8 - 10Capital 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 complaints1.8 - 11Index 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 complaints1.8 - 12Klas 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 complaints1.8 - 13Lotas 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 complaints1.8 - 14Trade 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 complaints1.8 - 15ExenMarketsHigh 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 complaints1.8 - 16Meta 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 complaints1.8 - 17Plus 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 complaints1.8 - 18Korkmaz 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 complaints1.8 - 19RunMarketsHigh 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 complaints1.8 - 20nTraderHigh 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 complaints1.8 - 21JoyFxHigh 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 complaints1.8 - 22FB 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 complaints1.8 - 23InfoglobalHigh 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 complaints1.8 - 24December 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 complaints1.8 - 25GanoPrimeHigh 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 complaints1.8 - 26W2ForexHigh 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 complaints1.8 - 27Harmonic 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 complaints1.8 - 28Theos 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 complaints1.8 - 29AvenorHigh 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 complaints1.8 - 30Base 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 complaints1.8 - 31Cryon 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 complaints1.8 - 32Fortunex 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 complaints1.8 - 33NiptolaxHigh 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 complaints1.8 - 34Phase 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 complaints1.8 - 35Winex 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 complaints1.8 - 36LC 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 complaints1.8 - 37Felix 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 complaints1.8 - 38B-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 complaints1.8 - 39TFG 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 complaints1.8 - 40FutbitHigh 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 complaints1.8 - 41Broker 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 complaints1.8 - 42Forex 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 complaints1.8 - 43Dijital 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 complaints1.8 - 44InfotraderHigh 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 complaints1.8 - 45Expres 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 complaints1.8 - 46BlockearnersHigh 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 complaints1.8 - 47Piramit 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 complaints1.8 - 48QuotexNot SPK Authorized
Is Quotex reliable? Quotex holds licenses from foreign regulators but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints3.5 - 49Olymp TradeNot SPK Authorized
Is Olymp Trade reliable? Olymp Trade holds licenses from foreign regulators but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints3.6 - 50ExpertOptionNot SPK Authorized
Is ExpertOption reliable? ExpertOption holds licenses from foreign regulators but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints3.6 - 51Pocket OptionNot SPK Authorized
Is Pocket Option reliable? Pocket Option holds licenses from foreign regulators but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints3.8 - 52BinomoNot SPK Authorized
Is Binomo reliable? Binomo holds licenses from foreign regulators but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints3.9 - 53WeltradeNot SPK Authorized
Is Weltrade reliable? Weltrade holds licenses from SVG but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints4.3 - 54PrimeXBTNot SPK Authorized
Is PrimeXBT reliable? PrimeXBT holds licenses from FSA, FSCA but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints5.6 - 55FBSNot 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 complaints5.7 - 56JustMarketsNot SPK Authorized
Is JustMarkets reliable? JustMarkets holds licenses from FSA but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints5.9 - 57FXTMNot 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 complaints6.1 - 58RoboForexNot 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 complaints6.2 - 59IQ OptionNot SPK Authorized
Is IQ Option reliable? IQ Option holds licenses from CySEC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.3 - 60TickmillNot 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 complaints7.4 - 61Capital.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 complaints7.6 - 62DerivNot 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 complaints7.6 - 63XMNot 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 complaints7.7 - 64Plus500Not 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 complaints7.7 - 65HFM (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 complaints7.8 - 66XTBNot 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 complaints7.8 - 67eToroNot 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 complaints7.8 - 68LibertexNot SPK Authorized
Is Libertex reliable? Libertex holds licenses from CySEC but is not authorized by the SPK in Türkiye, so local investor protection does not apply for Turkish clients.
0 complaints7.8 - 69PepperstoneNot 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 complaints7.9 - 70Octa (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 complaints7.9 - 71ExnessNot 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 complaints8.0 - 72IC 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 complaints8.1 - 73AvaTradeNot 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 complaints8.1 - 74FxProNot 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 complaints8.1 - 75AdmiralsNot 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 complaints8.1 - 76IGNot 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 complaints8.1
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.