Dossier · Leaderboard
Worst-rated firms.
The cohort that earned the lowest Regulator Record scores in our coverage. Grouped by band so the difference between an obvious-scam category (Severe) and a regulator- imposed settlement (Restricted) is clear at a glance.
6 firms in the cohort · A firm appears here only after at least one regulator action is on record
Severe(1)
Long-running unauthorised activity or major enforcement against an active firm. Treat any solicitation from these as adverse.
- 01RoyalForexSevere4Brokerage / CFD firm · CY · also RoyalForex, Royal Forex
Licence revoked(3)
Authorisation was granted and subsequently revoked or surrendered. The brand may still appear online.
- 01Rodeler LimitedLicence revoked8Brokerage / CFD firm · CY · also Rodeler Ltd, Rodeler Limited
- 02Maxiflex LtdLicence revoked10Brokerage / CFD firm · CY · also Maxiflex Ltd, Maxiflex Limited
- 03GMO TradingLicence revoked12Brokerage / CFD firm · CY · also GMO Trading, GMOTrading
Authorised, with restrictions(2)
Authorisation is live but materially restricted by undertaking — for example a settlement under which the firm agreed not to solicit retail clients in a specific region.
Rating legend
Every entity dossier carries a Regulator Record score (0–100, higher is cleaner) plus a band that summarises the score in plain language. The score is arithmetic on public regulator actions — severity × recency-decay — not editorial opinion. Three special bands sit alongside the numeric scale to capture situations the maths alone misses:
- SevereMajor enforcement against a still-active firm, or a long-running pattern of unauthorised activity. Read the timeline before engaging.
- Never authorisedOperating or operated without verifiable authorisation in any jurisdiction we have records for.
- Licence revokedAuthorisation revoked or withdrawn. May still be visible on the internet under the original brand.
- High concernSignificant enforcement footprint — multiple actions, recent in time, or substantial in size.
- Authorised, with restrictionsHolds a current authorisation that the regulator has formally restricted — e.g. an undertaking not to solicit retail clients in a specific region.
- Mixed recordMultiple regulator findings of varying severity. Current standing requires reader judgement; check the timeline.
- Material findingsOne or more material regulator findings on record, but the firm remains authorised and the matters appear historical.
- Clean recordNo material public regulator actions on file. Apparently in good standing.
Each entity is named in items linked to its dossier. Disagree with a score? Right of reply is available on every dossier page.