About FXCanary
FXCanary is an independent watchdog for the retail forex industry. We monitor tens of thousands of brokers, score their scam risk transparently, and surface real user reviews — so a trader can tell in seconds whether a broker is safe or a trap.
Why we exist
The retail forex world is messy and dangerous. Brokers vanish overnight with client deposits. Scam operations clone the names of legitimate firms. And many of the "independent" review sites traders turn to for help quietly take money from the very brokers they rank — turning their ratings into paid advertising dressed up as trust.
On top of that, broker "trust scores" are almost always black boxes: a number with no explanation of how it was reached. Traders are left guessing. FXCanary was built to fix exactly this.
What we do
- Monitor 30,000+ brokers — cross-checking regulatory records, complaint data, clone reports and real user reviews.
- Score scam risk transparently — every score comes with the full factor-by-factor breakdown, published openly. See our methodology.
- Surface real reviews — from independent platforms like Trustpilot and Forex Peace Army, with mismatched reviews audited out.
- Warn early — flagging withdrawal complaints, clone sites, offshore registration and brokers whose sites have gone dark.
Our independence
We charge brokers nothing, ever. No broker can pay to raise its score, delete a warning or edit its review. FXCanary is funded by B2B data licensing and clearly-labelled advertising — never by the brokers we cover. If a rating could be bought, it would be worthless; ours can't be.
How it works
For each broker we compile the public record — licences, company details, complaint and exposure reports, clone registrations — and the full body of independent user reviews. Objective data feeds a fixed, published formula that produces the Scam Risk Score. Our editorial team then analyses the real-review record and writes the assessment within a consistent framework, always keeping the broker's own marketing claims separate from our independent findings.
Who writes FXCanary
FXCanary's reviews are produced by our editorial research team — analysts focused on broker regulation, fund safety and the real-world experiences reported by traders. Every review is evidence-led and tied back to the transparent Scam Risk methodology, and is re-checked as new reviews and data arrive. We write for the retail trader trying to avoid losing money to a bad broker — not for the brokers.
Corrections & contact
Our assessments are independent opinion based on public data. If you believe a specific fact is wrong or out of date — whether you're a trader or a broker — you can request a correction with evidence and we will review it. To get in touch, email hello@fxcanary.com.
FXCanary is not a regulator and does not provide financial or investment advice. Always verify a broker's licence with the regulator directly. Trading forex and CFDs carries a high risk of losing money.
Maintained by the FXCanary editorial team · last updated 2026-07-01.