Best Unregulated Forex Brokers In The UK 2025
Trading forex through an unregulated broker is a high-risk endeavour. Still, some UK traders choose them because they offer fewer restrictions, bigger leverage, or easier account setups.
Explore our list of the top unregulated brokers in the UK, based on real trading experience with foreign currencies.
Top Unregulated Forex Platforms
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PrimeXBT provides trading services for more than 50 major, minor, and exotic currency pairs, with the benefit of margin trading and no commission fees. Our recent assessments show the platform to be fast, dependable, and well-equipped, featuring three chart types, ten timeframes, and 91 technical indicators. This makes it ideal for those employing active trading strategies.
GBPUSD Spread EURUSD Spread GBPEUR Spread Variable 0.1 Variable Total Assets FCA Regulated Platforms 45+ No Own -
Videforex provides trading on more than 40 currency pairs with leveraged CFDs, starting spreads at 0.1 pips. Alternatively, traders may opt for binaries to predict price directions, with payouts up to 98%. The platform includes tools like technical analysis, economic calendars, and market news to aid FX trading decisions. In 2025, Videforex introduced new exotic pairs such as THB and MXN to enhance trading opportunities.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.1 0.1 0.1 Total Assets FCA Regulated Platforms 40+ No TradingView -
Plexytrade offers a selection of major, minor, and exotic forex pairs, featuring leverage up to 1:2000 and raw spreads beginning at 0.0. This highly attractive package appeals to traders aiming to profit from small price fluctuations. Yet, the platform's weakness is its limited variety, with only 41 currency pairs, compared to over 100 forex assets available at IG.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.8 0.7 1.1 Total Assets FCA Regulated Platforms 40+ No MT4, MT5 -
Amega provides an extensive range of currency pairs, over 70 forex CFDs, which is notable for an unregulated broker. Traders can benefit from up to 1:1000 leverage, no commissions, and competitive spreads starting at 0.8 pips. Additionally, traders have the advantage of using MT5, an enhanced and quicker version of MT4.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.8 0.8 0.8 Total Assets FCA Regulated Platforms 70+ No MT5 -
RaceOption provides over 25 major and minor currency pairs on a straightforward, web-based platform. It features more than 30 indicators and includes integrated copy trading options, allowing for an effortless investment strategy.
GBPUSD Spread EURUSD Spread GBPEUR Spread Variable Variable Variable Total Assets FCA Regulated Platforms 25+ No TradingView -
NordFX provides a limited selection of over 30 major and minor forex pairs. Unfortunately, it does not include any exotic pairs. However, traders benefit from competitive tight spreads starting at 0.0 pips and low commissions from 0.0035% per side. Additionally, the platform offers valuable weekly forecasts on key forex pairs such as EUR/USD.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.4 0.0 0.2 Total Assets FCA Regulated Platforms 30+ No MT4, MT5
PrimeXBT
Videforex
Plexytrade
Amega
Raceoption
NordFXSafety Comparison
Compare how safe the Best Unregulated Forex Brokers In The UK 2025 are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
|---|---|---|---|---|---|
| PrimeXBT | ✘ | ✔ | ✘ | ✔ | |
| Videforex | ✘ | ✔ | ✔ | ✘ | |
| Plexytrade | ✘ | ✔ | ✘ | ✔ | |
| Amega | ✘ | ✔ | ✘ | ✘ | |
| Raceoption | ✘ | ✘ | ✘ | ✔ | |
| NordFX | ✘ | ✘ | ✘ | ✘ |
Payments Comparison
Compare which popular payment methods the Best Unregulated Forex Brokers In The UK 2025 support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
|---|---|---|---|---|---|---|
| PrimeXBT | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
| Videforex | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| Plexytrade | ✘ | ✘ | ✘ | ✘ | ✘ | ✘ |
| Amega | ✘ | ✘ | ✘ | ✘ | ✘ | ✘ |
| Raceoption | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| NordFX | ✘ | ✘ | ✔ | ✔ | ✔ | ✘ |
Mobile Trading Comparison
How good are the Best Unregulated Forex Brokers In The UK 2025 at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
| PrimeXBT | iOS & Android | ✘ | ||
| Videforex | Android | ✘ | ||
| Plexytrade | iOS & Android | ✘ | ||
| Amega | iOS & Android | ✘ | ||
| Raceoption | iOS & Android | ✘ | ||
| NordFX | iOS & Android | ✘ |
Beginners Comparison
Are the Best Unregulated Forex Brokers In The UK 2025 good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
|---|---|---|---|---|---|
| PrimeXBT | ✔ | $0 | 0.01 Lots | ||
| Videforex | ✔ | $250 | $0.01 | ||
| Plexytrade | ✔ | $50 | 0.01 | ||
| Amega | ✘ | $20 | 0.01 Lots | ||
| Raceoption | ✔ | $250 | $0.01 | ||
| NordFX | ✔ | $10 | $1 |
Advanced Trading Comparison
Do the Best Unregulated Forex Brokers In The UK 2025 offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
| PrimeXBT | ✔ | ✘ | 1:1000 | ✘ | ✘ | ✔ | ✘ |
| Videforex | ✔ | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
| Plexytrade | Expert Advisors (EAs) on MetaTrader | ✘ | 1:2000 | ✔ | ✘ | ✔ | ✘ |
| Amega | Expert Advisors (EAs) on MetaTrader | ✘ | 1:1000 | ✘ | ✘ | ✘ | ✘ |
| Raceoption | - | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
| NordFX | Expert Advisors (EAs) on MetaTrader | ✘ | 1:1000 | ✔ | ✘ | ✘ | ✘ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Best Unregulated Forex Brokers In The UK 2025.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
| PrimeXBT | |||||||||
| Videforex | |||||||||
| Plexytrade | |||||||||
| Amega | |||||||||
| Raceoption | |||||||||
| NordFX |
Our Take On PrimeXBT
"PrimeXBT suits aspiring traders interested in crypto derivatives and traditional markets such as forex and indices, all accessible via a user-friendly, web-based platform. The copy trading feature is perfect for passive traders, offering 5-star ratings and performance charts to identify suitable traders."
Pros
- Round-the-clock customer support, accessible through live chat, demonstrated outstanding performance during testing. Additionally, the comprehensive help centre offers ideal self-assistance resources.
- PrimeXBT offers ultra-fast execution speeds, averaging 7.12ms, making it an ideal choice for traders seeking optimal pricing during market volatility.
- In 2025, PrimeXBT significantly expanded its Crypto Futures offerings with over 100 tokens, including AI, NFTs, Metaverse, and Layer 1 & 2 assets.
Cons
- Despite enhancements, the range of approximately 100 instruments lags significantly behind competitors, such as OKX, which offers over 400 assets.
- The absence of integration with established platforms such as MT4 restricts traders accustomed to the globally popular forex software.
- PrimeXBT operates widely in the crypto sector but without approval from a recognised regulator, significantly increasing the risk for retail traders.
Our Take On Videforex
"Videforex offers traders a straightforward, user-friendly platform to speculate on popular markets via binaries. The quick registration and web accessibility ensure an effortless start."
Pros
- Videforex frequently holds trading contests, providing both novice and seasoned traders with practice opportunities and cash prizes. Traders can participate with position sizes starting as low as 1 cent.
- Videforex is among the select brokers offering round-the-clock multilingual video support, ensuring thorough assistance for active traders.
- Traders can achieve up to 98% returns on over 100 assets through the broker's binary options, aligning with competitors such as IQCent.
Cons
- Based on recent tests, the client terminal requires enhancements, as its widgets occasionally become slow and unresponsive, which could affect traders' experience.
- The lack of educational resources is a significant disadvantage for novice traders. In contrast, leading firms offer blogs, videos, and live trading sessions.
- Videforex is not licensed by a reputable regulator, leaving traders with minimal or no protection, such as segregated client accounts.
Our Take On Plexytrade
"Plexytrade has entered the brokerage market with notable features such as 1:2000 leverage, zero spreads on certain instruments, and rapid execution speeds below 46 milliseconds. Yet, the lack of regulation raises substantial worries, and its absence of research and educational resources leaves it trailing industry leaders."Christian Harris
Reviewer
Pros
- Plexytrade provides some of the highest leverage available, reaching up to 1:2000. This option appeals to experienced traders who are prepared to trade without regulatory safeguards.
- Plexytrade supports various trading techniques and short-term strategies such as scalping, hedging, and algorithmic trading.
- Though not regulated, Plexytrade ensures client protection through negative balance safeguards and maintains safety by keeping client funds in separate accounts.
Cons
- With approximately 100 instruments, Plexytrade limits the flexibility of traders seeking diverse asset options, unlike Blackbull, which offers 26,000 securities.
- Cryptocurrency exclusively enables both deposits and withdrawals, as Plexytrade lacks support for bank cards, wire transfers, or e-wallets.
- No social or copy trading options exist for novice traders to mimic the trades of seasoned investors, placing it behind frontrunners like eToro.
Our Take On Amega
"Amega caters to active traders, offering dynamic leverage up to 1:1000, swift execution speeds of 100 ms, the sophisticated MetaTrader 5 platform, and no constraints on trading strategies."
Pros
- The One account offers simplicity for budding traders by providing access to a full array of forex, stocks, indices, and commodities. It comes with transparent pricing, devoid of hidden or swap fees, and offers a $1 cashback per lot traded.
- The MetaTrader 5 platform excels in trading by offering low latency and advanced order types, alongside 128 indicators and 21 timeframes for precise analysis.
- Amega offers a variety of convenient payment options, from cryptocurrencies to global banking solutions, with a low minimum deposit of just $20.
Cons
- While the collection of educational resources is expanding, it still trails well behind platforms like eToro, which provides quizzes, videos, and a social trading network for a comprehensive learning experience.
- Although Amega provides negative balance protection, it remains unauthorised by a credible regulator. This makes it a high-risk choice without investor protection.
- As brokers enhance their trading platforms and incorporate third-party solutions such as cTrader to cater to diverse trader demands, Amega lags with only offering MT5.
Our Take On Raceoption
"RaceOption attracts traders with its feature-packed binary options platform, offering frequent contests, account benefits, and copy trading. However, its unregulated nature presents minimal to no investor protections, according to our research."
Pros
- RaceOption is among the select few brokers providing 24/7 multilingual video chat. However, our interactions suggest that their agents require better understanding of trading and regulatory matters.
- Returns on well-known assets such as EUR/USD can go up to 95%, outperforming many other options based on our analysis and boosting potential gains. Additionally, the initial three trades incur no risk in Silver and Gold accounts.
- RaceOption simplifies account funding with no-fee, near-instant deposits through bank cards and cryptocurrencies. Withdrawals are processed within one hour, guaranteed.
Cons
- RaceOption, lacking both a demo account and educational resources, is not ideal for novice traders.
- The $250 minimum deposit, though still attainable for numerous retail investors, presents a higher entry barrier compared to platforms like Deriv and World Forex, which cater more to budget-conscious traders.
- RaceOption operates as an unregulated broker, offering high-risk trading with no investor compensation or legal remedies if trading or withdrawal problems arise.
Our Take On NordFX
"NordFX offers competitive conditions solely for top-tier accounts, ideal for seasoned traders pursuing zero-spread trading via MetaTrader. The minimum deposit is $100 for MT4 and $200 for MT5."
Pros
- A diverse selection of over 25 payment methods, including local bank transfers, ensures a seamless account funding process with no fees and rapid processing times.
- NordFX has enhanced its offerings by introducing Pro accounts, which utilise spread-only pricing. Additionally, Zero accounts now provide spreads starting from 0.0 on popular assets such as EUR/USD.
- NordFX has enhanced its charting tools for seasoned traders by incorporating MT5 alongside MT4, offering quicker, multi-threaded processing.
Cons
- NordFX offers a limited market range, featuring just approximately 100 instruments. The selection of shares is especially sparse, with only about 20 available.
- While NordFX provides competitive pricing with its Zero accounts, it lags behind more cost-effective brokers such as IC Markets. Conversely, its Pro accounts come with some of the highest spreads in the market, starting from 10 pips.
- The absence of robust regulatory oversight at NordFX raises concerns. Clients face limited protection, with no negative balance safeguards and no segregated accounts.
How Investing.co.uk Chose The Top Unlicensed FX Brokers
We logged into each trading platform to evaluate its usability, trading conditions, and overall user experience. We checked every brokerage to confirm it is not regulated by the UK’s Financial Conduct Authority (FCA) or any recognised global regulator.
Our rankings were then built using our overall ratings which call on 200 data points, including costs, execution, platform performance, and risk controls, combined with hands-on testing by experienced FX traders based in the UK.
Should I Use An Unauthorised FX Broker?
We generally recommend British traders use an FCA-regulated forex brokerage for a secure trading experience. However, some investors choose not to. If this is you, it’s important to understand what you get, and lose, if you go down this route.
No FCA Protection
The most important thing to understand is that unregulated brokers are not overseen by the Financial Conduct Authority (FCA).
That means:
- No FSCS protection up to £85,000 if the broker collapses.
- No complaints process through the FCA to resolve issues.
- No rules force the broker to hold your funds safely.
If something goes wrong with an unregulated broker, you’re on your own. Many traders accept this risk, but it’s essential to be clear-eyed about it.
Leverage Limits
Regulated UK brokers are capped at 1:30 leverage for retail traders speculating on major pairs like GBP/USD. Unregulated brokers can go much higher – sometimes as high as 1:1000, 1:2000, or even more from our tests.
This looks attractive, but high leverage brokers cut both ways. It can boost profits, but it can also quickly wipe out your account. If you trade with high leverage, you need strict discipline.
I’ve traded with unregulated forex brokers that offered enormous leverage. At first, it felt exciting – small deposits could open prominent positions. But I learned quickly that the same leverage that doubled profits could wipe me out just as fast.
Account Setup
Unregulated forex brokers often have simpler sign-up processes. Some skip ID checks, or they allow you to deposit with cryptocurrency. This makes access fast and easy, but it also means less protection against fraud or money laundering.
If you value privacy and speed, this option may appeal to you. But if you want safety, it’s a red flag.
Deposits & Withdrawals
UK-regulated forex brokers must maintain client funds in segregated accounts and provide transparent withdrawal processes. With unregulated brokers, rules are looser.
Some common issues:
- Delays in withdrawals.
- High fees for specific payment methods.
- Restrictions on crypto payouts.
- Minimum withdrawal amounts that feel unfair.
Before you open a forex account, test small deposits and withdrawals. If money doesn’t move smoothly, that’s a warning sign.
Trading Conditions
Unlicensed FX brokers may offer features you won’t typically get with FCA-regulated ones.
These can include:
- Very high leverage.
- Attractive bonus schemes.
- Lower margin requirements.
- A wider variety of forex CFDs and exotic pairs.
- Fewer restrictions on crypto deposits.
But conditions can also work against you. Some unregulated forex brokers we’ve tested use wide spreads, slow order execution, or aggressive slippage. Without oversight, there’s little you can do if trading feels stacked against you.
Platform Choice
Most unauthorised forex brokers still use MetaTrader 4 (MT4) or MetaTrader 5 (MT5) based on our investigations. Others may run proprietary platforms. On the surface, this appears to be the same as with regulated brokers.
The difference is behind the scenes. You can’t be sure how orders are handled. Some brokers run ‘B-book’ systems, meaning they profit when you lose. With no regulator, there’s no one to check fairness.
Promotions
The FCA bans certain trading bonuses in the UK. Unregulated brokers can offer them freely – deposit matches, free credits, loyalty rewards – we’ve seen them all.
These deals may seem tempting, but they often come with strings attached. For example, you might not be able to withdraw profits until you hit huge trading volumes. Always read the fine print.
Deposit $101 or more and get an extra 101% at FreshForex
Jurisdiction
Most unregulated forex brokers are registered offshore from our analysis. Places like Saint Vincent and the Grenadines, Seychelles, or Belize are common.
What this means:
- Weak or no local regulation.
- Hard to pursue legal action.
- Company offices may exist only on paper.
Verify the broker’s registration details, but note that offshore addresses often have limited practical significance.
Risk Of Scams
Without regulation, forex scams are more common. Warning signs:
- Cold calls or aggressive emails.
- Promises of guaranteed returns.
- Pressure to deposit larger amounts.
- Vague or hidden terms and fees.
If it sounds too good to be true, it usually is. Be suspicious of any broker pushing you hard to ‘act now.’
Tax & Reporting
Even if you trade currencies with an unregulated broker, you still owe tax in the UK. Profits are taxable, regardless of whether your brokerage is based in London or offshore.
Some unregulated brokers don’t provide detailed tax reports. That means you’ll need to track trades and profits yourself to stay compliant with HMRC.
When I was trading forex with an offshore broker, I quickly noticed that they didn’t provide me with any proper tax statements. All I had were raw trade logs, so I ended up building my own spreadsheets to keep things straight for HMRC.It wasn’t impossible, but it was messy and definitely more work than I expected.
Who Controls The Funds
With UK-regulated brokers, client funds are kept separate from company funds. With unregulated forex providers, this isn’t guaranteed. Your funds might be mixed into company accounts.
If the broker encounters trouble or disappears, your money is likely to go with it. Always assume deposits with unregulated brokers are at risk.
Bottom Line
Trading with unregulated forex brokers in the UK comes with trade-offs. You might get higher leverage, faster access, and more promotions. But you lose FCA protection, face withdrawal risks, and deal with offshore companies that may not be trustworthy.
If you choose to trade currencies this way, only risk money you can afford to lose. Test withdrawals early. Keep expectations realistic. And remember – the lack of regulation is not a minor detail.