Best Unregulated Stock Brokers in 2025
Traders opt for unlicensed stock platforms for perks like zero commissions, high leverage, easy account setups, and joining bonuses like free shares. However, the risks are huge.
You may get zero investor protection, poor quality stock screeners and market analysis, and potential scams like the one reported by The Economic Times where victims lost millions to a stock trading fraud on social media. This is why we primarily recommend trading stocks through a regulated broker.
However, for those willing to forego legal safeguards, launch into DayTrading.com’s pick of the best unregulated stock trading platforms. Every brokerage has been evaluated by our stock market experts and enthusiasts.
Top 6 Unregulated Stock Brokers
Based on our tests, analysis and ratings, these 6 unlicensed platforms stand out as the best for trading stocks:
Here is a summary of why we recommend these brokers in December 2025:
- Videforex - Trade binary options and CFDs on global stocks from US, European, Russian and Asian exchanges, as well as 37 indices covering a wide range of global markets. The access to stocks trumps many binary options brokers, especially since big names like Palantir, Apple and Meta were added to the web platform in 2025..
- Bubinga - Bubinga offers binary trading on 14 stocks, including big US firms like Tesla, Google and Microsoft, plus 4 equity indices, such as GSMI. Potential returns hit 95% on some technology stocks during our latest round of tests.
- Capitalcore - Capitalcore offers just 18 stocks spanning major US firms like Apple, Netflix and Nvidia and a handful of futures indices. However, this falls way short of the 16,000+ global stocks and indices at alternatives like IG. Also, the lack of screeners and market insights results in a very limiting stock trading experience.
- Plexytrade - Plexytrade's range of 48 US stock CFDs trails most competitors, though the selection of 15 popular global indices (including S&P 500, Nasdaq 100, and Dow Jones) is reasonable. Still, the lack of stock market research tools like stock screeners and the minimum deposit requirement to access the economic calendar (a typically free feature at other stock brokers) is disappointing.
- Binarium - Go long or short on blue chip stocks like Apple and Microsoft. You can place high/low binaries on the user-friendly platform. The suite of stocks is focused on US markets, however.
- AZAforex - AZAforex offers trading on a modest range of US stocks including Google, Apple and Amazon. You can also speculate on leading indices such as the FTSE, but there’s still no fractional shares, extended hours trading or extensive market research to rival the best stock brokers.
Best Unregulated Stock Brokers in 2025 Comparison
| Broker | Stock Exchanges | Leverage | Platforms | Minimum Deposit |
|---|---|---|---|---|
| Videforex | Dow Jones, FTSE UK Index, Hong Kong Stock Exchange, IBEX 35, Nasdaq, S&P 500, SIX Swiss Exchange | 1:500 | TradingView | $250 |
| Bubinga | - | - | Own, TradingView | $10 |
| Capitalcore | DAX GER 40 Index, Dow Jones, FTSE UK Index, Nasdaq, S&P 500 | 1:2000 | WebTrader, Pro | $10 |
| Plexytrade | Australian Securities Exchange (ASX), CAC 40 Index France, DAX GER 40 Index, Dow Jones, Euronext, FTSE UK Index, Hang Seng, Hong Kong Stock Exchange, IBEX 35, Japan Exchange Group, Nasdaq, New York Stock Exchange, Russell 2000, S&P 500, SIX Swiss Exchange | 1:2000 | MT4, MT5 | $50 |
| Binarium | - | - | Own | $5 |
| AZAforex | CAC 40 Index France, DAX GER 40 Index, Dow Jones, FTSE UK Index, London Stock Exchange, Nasdaq, New York Stock Exchange, Russell 2000, S&P 500 | 1:1000 | Mobius Trader 7 | $1 |
Videforex
"Videforex will serve traders looking for an easy-to-use platform to speculate on the direction of popular financial markets through binaries, especially cryptos and stocks, with dozens of assets added. The integration of TradingView charts also caters to technical traders. However, it requires a trade-off – no regulatory oversight, making it a risky choice. "
William Berg, Reviewer
Videforex Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Platforms | TradingView |
| Minimum Deposit | $250 |
| Automation | Yes |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Stock Exchanges
Videforex offers trading on 7 stock exchanges:
- Dow Jones
- FTSE UK Index
- Hong Kong Stock Exchange
- IBEX 35
- Nasdaq
- S&P 500
- SIX Swiss Exchange
Pros
- Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Traders can earn up to 95% payouts on 150+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
- With the addition of over 60 new assets, Videforex now gives traders access to in-demand crypto (TON, ARB, PEPE, SHIB), top-performing tech stocks (Tesla, Meta, Nvidia, Amazon), and a more diverse FX portfolio (THB, ZAR, and MXN).
Cons
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
Bubinga
"With an account that takes under 2 minutes to create, trade sizes from $1, and popular assets like U.S. technology stocks and key currency pairs, Bubinga suits aspiring traders looking to make simple high/low trades on well-known assets."
Christian Harris, Reviewer
Bubinga Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Platforms | Own, TradingView |
| Minimum Deposit | $10 |
| Automation | No |
| Account Currencies | USD, EUR, JPY, KRW |
Stock Exchanges
Bubinga offers trading on 0 stock exchanges:
Pros
- Bubinga’s order execution speed is decent. During active trading, the platform handled quick entries and exits without noticeable lag. For day traders, this responsiveness is important for catching tight expiry windows, which start from 1 minute.
- Bubinga stands out from most competitors by offering Tradeback, which repays part of the previous week’s trading losses, with payments made to accounts every Tuesday.
- Bubinga’s web platform has been built with beginners in mind – no cluttered interface – just a simple chart and basic settings to configure the expiry time, stake and binary direction.
Cons
- Withdrawal limits on lower-tier accounts can be frustrating. When you start, you might find it hard to cash out more than a small amount at once, which slows your access to your profits. It pushes you to keep funding your account beyond what you might feel comfortable with.
- The lack of regulation at Bubinga is a concern. Without oversight from a trusted body in DayTrading.com’s regulator tracker, there’s always a risk that your funds won’t be fully protected.
- The platform’s limited research tools means you have to juggle multiple apps or sites for market info. Not having live news or market analysis inside the platform makes it harder to react quickly.
Capitalcore
"Capitalcore runs one of the most advanced binary options platforms we’ve tested, making it a stellar option if you need serious charting power, with TradingView integration offering over 5 chart types and 90 indicators. Its 'double up' and 'rollover' capabilities to replicate or extend short-term trades with a click, are also excellent for strategy development."
Capitalcore Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Platforms | WebTrader, Pro |
| Minimum Deposit | $10 |
| Automation | No |
| Account Currencies | USD |
Stock Exchanges
Capitalcore offers trading on 5 stock exchanges:
- DAX GER 40 Index
- Dow Jones
- FTSE UK Index
- Nasdaq
- S&P 500
Pros
- Capitalcore is one of the only brokers to charge zero swap fees, which may appeal to Islamic traders looking to comply with Islamic Finance.
- Capitalcore has added binary options trading on 30+ currency pairs, metals and crypto with one-click trading and payouts up to 95%.
- While a relative newcomer to binary options space, its transparent, accessible service earned it runner up in DayTrading.com's 2025 'Best Binary Broker' award.
Cons
- Platform support is limited to proprietary software, so there's no integration with the market-leading MetaTrader or cTrader, which offer built-in economic news and support automated trading.
- Capitalcore’s threadbare education and research seriously trail category leaders like IG, making it less suitable for aspiring traders.
- The web platform was inconsistent during testing, with occasional technical glitches that meant the trading platform wouldn’t load.
Plexytrade
"Plexytrade is a newcomer in the brokerage scene with attention-grabbing features like 1:2000 leverage, zero spreads on select instruments and fast execution speeds of less than 46 milliseconds. However, the absence of regulation is a significant concern, while the non-existent research and educational tools place it far behind industry frontrunners."
Plexytrade Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Platforms | MT4, MT5 |
| Minimum Deposit | $50 |
| Automation | Yes |
| Account Currencies | USD, EUR |
Stock Exchanges
Plexytrade offers trading on 15 stock exchanges:
- Australian Securities Exchange (ASX)
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- Hang Seng
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- Nasdaq
- New York Stock Exchange
- Russell 2000
- S&P 500
- SIX Swiss Exchange
Pros
- There are various VPS packages starting from $50 per month, but they become complimentary once specific deposit thresholds are reached.
- US residents are accepted as clients, distinguishing Plexytrade as one of the rare offshore brokers that cater to US-based traders.
- Plexytrade offers among the highest leverage we’ve seen, up to 1:2000, catering to advanced traders willing to forego regulatory protections.
Cons
- There are no research and educational materials, falling short of alternatives like IG, while access to the economic calendar is restricted to clients with balances of $500.
- Deposits and withdrawals are exclusively facilitated through cryptocurrencies, as Plexytrade does not support bank cards, bank wire transfers, or e-wallets.
- Plexytrade lacks regulation in major jurisdictions, significantly increasing the risks of opening an account and depositing funds.
Binarium
"Binarium has been designed with simplicity in mind, featuring a fast, fully digital sign-up process and an intuitive platform and app with 100+ indicators. With binaries spanning 60 seconds to 3 months, it caters to both short and longer-term traders."
Binarium Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Platforms | Own |
| Minimum Deposit | $5 |
| Automation | No |
| Account Currencies | USD, EUR, AUD, RUB |
Stock Exchanges
Binarium offers trading on 0 stock exchanges:
Pros
- Binarium claims to segregate client funds with EU banks, meaning traders’ money should not be misused and providing an important layer of protection, which is especially relevant given its offshore status.
- The $10,000 demo account, deposit-doubling welcome bonus, smooth sign-up, and 24/7 support make for an attractive onboarding experience.
- Binarium has the best education centre we’ve seen amongst binary options brands, complete with information on core topics like trading basics and account options, plus professional video guides to using the platform.
Cons
- Despite being operational since 2012, Binarium is an unregulated broker with limited transparency on its website, raising safety concerns and potentially putting your capital at risk.
- Binarium has some way to go to match the investment offering of binary firms like Quotex, with a particularly weak selection of around 20 currencies and 3 cryptocurrencies.
- Payouts of up to 80% are on the low side of binary options platforms based on our evaluations, which may deter traders looking for the possible best returns, though you can get back up to 15% of losing trades.
AZAforex
"AZAforex is best suited to active traders looking for a choice of American and Chinese options, with different payout structures to standard high/low options. It’s also excellent for mobile traders, offering a dedicated app that provides a more comprehensive experience if you’re trading on the go compared to the mobile-optimized web browsers most firms use."
AZAforex Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Platforms | Mobius Trader 7 |
| Minimum Deposit | $1 |
| Automation | No |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, MYR, IDR, CHF, RUB, THB, VND, UAH, CNY |
Stock Exchanges
AZAforex offers trading on 9 stock exchanges:
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- FTSE UK Index
- London Stock Exchange
- Nasdaq
- New York Stock Exchange
- Russell 2000
- S&P 500
Pros
- AZAforex provides high leverage of up to 1:1000, allowing for potentially greater returns with smaller capital. While this comes with increased risk, it's an attractive feature if you are an experienced trader looking for aggressive growth strategies.
- Few brokers offer binary options as part of their portfolio. Still, AZAforex includes them, allowing you to speculate on short-term price movements with fixed risk and reward up to 90%.
- AZAforex supports a huge and growing variety of payment methods, including bank transfers, credit/debit cards, e-wallets, and cryptocurrencies, providing flexibility for funding and withdrawals. This variety accommodates traders from different regions and preferences.
Cons
- AZAforex still operates without regulation from a recognized financial authority, which raises concerns about transparency, fund safety, and accountability. You may have no recourse in disputes, making it riskier than regulated brokers.
- While functional during testing, the Mobius Trader 7 platform is proprietary and not widely used by other brokers. This creates risks of potential price manipulation or discrepancies in market data, as there's no external verification like with MetaTrader or cTrader.
- AZAforex offers basic trading guides and a blog but lacks robust educational tools such as video tutorials, webinars, or interactive learning resources. This makes it less appealing for beginners who need comprehensive learning support. A lot of the content is outdated, too.
Our Methodology
To find the top unlicensed stock brokers, we took our database of 231 online trading platforms, identifying all those that offer stock trading and that are not regulated by a financial body.
Then we ranked the remaining stock brokerages by their overall rating, assigned by our experts after weighing hard data with direct observations during hands-on tests.
Choosing A Non-Regulated Stock Trading Platform
Finding the right brokerage will depend on your individual trading needs. However, drawing on our own experience examining unlicensed stock brokers, there are several things to consider:
Trust
Find a stock trading platform you can trust.
Unregulated stock brokers will not provide the same level of protection as firms licensed by authorities recognized by DayTrading.com’s Regulation and Trust Rating, particularly ‘green tier’ regulators.
However, there are still clues that a broker is legitimate: A clean record with no lawsuits, many years of offering equities, and positive reviews from other stock traders and industry experts.
What regulatory protections could I lose with an unregulated stock broker? You may lose investor protection in the event your broker goes under (eg $500k in US) and dispute resolution services to address issues (eg Financial Ombudsman in UK). Also, you might not get negative balance protection (eg required in Europe) to stop you losing more than your deposit, which is key for day traders using leveraged stock CFDs.
- NordFX is among the most established unlicensed stock platforms we’ve tested, with a long history since 2008 and operations in multiple regions including Latin America, Europe and Asia, catering to global traders.
Stock Markets
Choose a brokerage with access to the stocks and indices you want to trade.
Unlicensed brokers sometimes provide access to niche stock markets, but in our experience, they usually offer fewer equities.
For example, regulated XM offers over 1,300 stocks, covering European, US and Latin American markets, whilst many unlicensed firms like OspreyFX offer fewer than 100 shares covering just one or two regions.
What stock markets could I lose access to with an unregulated broker? You may not get stock markets in further afield regions such as South America or Asia Pacific. Our investigations also show you likely won’t get opportunities through fractional stocks, share baskets, or extended hours trading.
- EagleFX offers 70+ equities, which surpasses most unlicensed brokers. You can trade shares on US and European stock exchanges, which should be sufficient for beginners but restricting for experienced investors.
Tools
Pick a provider with a platform or stock trading app you enjoy using, and that has the tools you need.
Our investigations show unlicensed stock brokers typically offer fewer platform options than their regulated peers, especially when it comes to in-house terminals.
Having said that, MetaTrader 4 (MT4) is still widely available which sports a highly customizable interface and enough charting power to meet the needs of most short-term stock traders.
What stock trading tools could I lose with an unregulated broker? You may not get a choice of desktop, web and mobile platforms to suit your trading needs, or access to supplementary tools like stock screeners, market analysis, economic calendars, stock recommendations, and company metrics like EBITDA and P/E ratio.
- Plexytrade is one of the few unregulated stock trading firms to offer both MT4 and MT5, catering to day traders at every level. Both platforms have dozens of indicators and drawing tools, and integrated research features from one flexible workspace.
Trading Conditions
Select a platform with transparent, competitive stock trading conditions.
Be wary of unauthorized stock trading providers advertising commission-free stock trading (a trend in recent years), but then charging higher costs elsewhere, for instance access to stock screeners, market data, and analyst stock picks.
Leverage is also a key consideration. Stock traders often turn to unregulated platforms to access higher leverage (sometimes 1:20+) than is available in tightly controlled regions.
This means a $10 outlay on Amazon shares will multiply your results 20x, increasing the potential for large profits but also huge losses. We don’t recommend beginners trade stocks with high leverage.
What financial protections could I lose with an unregulated broker? You may lose responsible leverage limits (eg 1:5 on stocks in the EU), upfront information about stock spreads and commissions (average spreads are a more reliable cost indicator than minimum spreads), and order execution guarantees (fast execution with minimal slippage is important for active stock traders).
- Amega is a great option for those looking for transparent pricing, with zero commissions on stocks, low spreads from 0.08 pips on popular share CFDs like Apple, and no deposit or withdrawal fees.
Customer Support
Select a company with customer support you can rely on. This can be key for active stock traders who need queries answered urgently.
However, don’t expect the same level of assistance at non-licensed stock trading providers. We’ve spent countless frustrating hours getting unhelpful responses to our stock trading queries through automated chatbots and live agents who can barely write in English and have little to zero understanding of their company’s own stock trading products.
What customer support features could I lose with an unregulated broker? You may not get access to multilingual customer support or localized assistance 24/7. You may also experience slow response times and sometimes no answer at all. Dedicated account managers are also rare at unregulated stock brokers.
- LonghornFX refreshingly performs better than the vast majority of unlicensed stock trading firms we’ve examined, with around-the-clock assistance via email and live chat, and response times of less than one minute during our latest round of testing with enquiries into its stock trading conditions.
Bottom Line
Choosing an unregulated broker is an enticing proposition for many aspiring stock traders looking for huge leverage, trading bonuses, and account opening that can take less than 5 minutes.
To find the right broker for you, see DayTrading.com’s choice of the best unregulated stock trading platforms.
Unauthorized stock brokers are extremely high risk. Barely any of the unlicensed stock trading platforms we’ve used provide investor protection and they are often cagey when it comes to trading fees and order execution. You could lose your investment.
FAQ
Am I Safe If I Trade Stocks Through An Unregulated Broker?
No. Trading stocks through an unlicensed broker will never be safe.
Unauthorized brokerages simply aren’t subject to the same level of scrutiny as regulated firms. Your funds and personal data may not be secure and the overall quality of the stock trading environment is usually far below the level we expect from authorized brokers.
Article Sources
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com