Best Offshore Brokers
By Stéphane on 13/10/2023
If you're looking for the best offshore broker, look no more. Here's our selection of offshore Forex and CFD brokers you can trust. You'll find direct links to their offshore registration pages from this article.
You may open an account with these offshore brokers wherever you live, except if you live in the US, Iran, North Korea and a handful of other countries. When further restrictions apply, we'll make this clear.
Brokers we recommend
FP Markets is an Australian CFD broker with an offshore entity in St Vincent & the Grenadines. Get leverage up to 1:500 across Forex and gold, and high leverage across all other markets when you open an account with FP Markets LLC. The link on this page will take you right there.
AvaTrade is a global CFD broker with an offshore entity in the BVI. However, your ability to register with its offshore entity will depend on your country. If that option is available to you, the registration form will prompt you to choose an entity.
FxPro is a global CFD broker with an offshore entity in the Bahamas. Get leverage up to 1:200 across Forex, indices and gold, 1:25 across stocks and 1:20 across crypto. You'll know you're registering with its offshore entity if the registration page mentions "FxPro Global Markets Limited".
Other offshore brokers:
Offshore brokers compared
Here's how and why rated these brokers, or learn more about our impartial 18-point methodology.
| Overall | Markets | Trading environment | Deposits and withdrawals | Investor protection | Customer service | |
|---|---|---|---|---|---|---|
| FP Markets | 4.8 | 5.0 | 4.8 | 5.0 | 4.0 | 5.0 |
| AvaTrade | 4.7 | 5.0 | 4.2 | 4.7 | 4.8 | 5.0 |
| FxPro | 4.6 | 4.1 | 4.9 | 4.6 | 4.8 | 4.7 |
| Exness | 4.3 | 3.8 | 4.0 | 5.0 | 3.8 | 4.7 |
| NordFX | 3.4 | 3.0 | 4.2 | 3.2 | 2.0 | 4.6 |
| Forex (CFD) | Cryptos (CFD)* | Stocks (CFD) | Indices (CFD) | ETFs (CFD) | Metals (CFD) | Energy (CFD) | Commodities (CFD) | Bonds (CFD) | |
|---|---|---|---|---|---|---|---|---|---|
| FP Markets | 72 | 12 | 1000 | 16 | 46 | 17 | 4 | 5 | 2 |
| AvaTrade | 55 | 14 | 612 | 23 | 31 | 9 | 10 | 7 | 2 |
| FxPro | 70 | 27 | 137 | 18 | 8 | 4 | 4 | ||
| Exness | 96 | 11 | 98 | 10 | 4 | 3 | |||
| NordFX | 33 | 13 | 23 | 4 | 2 | 3 |
| MT4 | MT5 | Copy trading | cTrader | |
|---|---|---|---|---|
| FP Markets | ||||
| AvaTrade | ||||
| FxPro | ||||
| Exness | ||||
| NordFX |
| Bank transfer | Broker to broker transfer | Credit card | Debit card | BTC (Bitcoin) | USDT (Tether) | NETELLER * | Skrill * | Binance Pay | |
|---|---|---|---|---|---|---|---|---|---|
| FP Markets | |||||||||
| AvaTrade | |||||||||
| FxPro | |||||||||
| Exness | |||||||||
| NordFX |
| Australia | Bahamas | Cyprus (EU) | Seychelles | South Africa | St. Vincent & the Grenadines | UAE | UK | Vanuatu | |
|---|---|---|---|---|---|---|---|---|---|
| FP Markets | |||||||||
| AvaTrade | |||||||||
| FxPro | |||||||||
| Exness | |||||||||
| NordFX |
* Availability is subject to local laws and regulations.
Note: for brevity, this table only shows the most popular payment methods and regulators. Open a free account with any of these brokers to view funding options available in your country.
FP Markets is an Australian CFD broker with an offshore entity in St Vincent & the Grenadines. Get leverage up to 1:500 across Forex and gold, and high leverage across all other markets when you open an account with FP Markets LLC. The link on this page will take you right there.
- Likes
- Flexible leverage up to 1:500.
- Trade over 1,000 financial instruments.
- Trade on MT4/5 or cTrader without restrictions.
- Copy trading service is available.
- Customer support is available 24/7.
- Dislikes
- No TradingView integration is available for now.
- No investor compensation fund in the event of bankruptcy.
We've traded through this broker's MT5 Raw account and can vouch for its low spreads and reliable trading environment. Its Raw account is designed for day traders and scalpers, and its Standard account will suit all others.
We also like the breadth of instruments available through its platform. You'll find over 70 currency pairs, as well as gold and silver priced in US dollars, euros and Aussie dollars. You can also go long or short on stocks and government bonds through over 40 ETFs.
Its free educational content also sets it apart from the competition. Fund your account to get access to trading signals from Trading Signal and Autochartist. You'll also get access to free trading courses for beginners and experienced traders, weekly webinars and e-books.
AvaTrade is a global CFD broker with an offshore entity in the BVI. However, your ability to register with its offshore entity will depend on your country. If that option is available to you, the registration form will prompt you to choose an entity.
- Likes
- Over 750 financial instruments on MT4/5.
- Get free daily trading signals.
- Easily copy professional traders.
- No fees on deposits or withdrawals.
- Get one-on-one assistance when you deposit US$1,000.
- Dislikes
- You cannot trade on raw spreads.
- Quarterly and annual inactivity fees.
The breadth of assets available to trade through its platform sets AvaTrade apart from the competition. You'll find over 750 instruments, including currencies, stocks, indices, ETFs (and leveraged ETFs), precious metals, commodities, cryptocurrencies, and government bonds.
AvaTrade supports the MT4 and MT5 platforms, available for Windows and iOS devices. Its web trading platform is sleek, with advanced charting tools. AvaTrade's spreads are competitive and fixed, which can provide a more predictable trading environment, well-suited for beginners.
Its customer service is excellent too. Every time a question has arisen, we've been able to speak to a customer support agent easily through a local telephone number. Our queries were resolved within minutes. AvaTrade support is available five days a week through various channels, including WhatsApp.
FxPro is a global CFD broker with an offshore entity in the Bahamas. Get leverage up to 1:200 across Forex, indices and gold, 1:25 across stocks and 1:20 across crypto. You'll know you're registering with its offshore entity if the registration page mentions "FxPro Global Markets Limited".
- Likes
- CFDs on 250+ instruments.
- FxPro accepts all trading styles on MT4/5 and cTrader.
- Trade on fixed or floating spreads, with or without commission.
- Many deposit methods, including crypto and broker-to-broker transfers.
- Get daily trading signals from Trading Central.
- Dislikes
- You cannot trade CFDs on ETFs or government bonds.
- Copy trading isn't available.
It's hard to find fault with FxPro, a broker with a 20-year track record. We've traded through FxPro's Raw account and enjoy the razor-thin floating spreads and low commissions. This account, which comes with a $1,000 minimum deposit, will appeal to experienced traders.
If you're new to trading, you could also open a Standard account with a low $100 deposit. You'll enjoy a more predictable trading environment with fixed, albeit wider, spreads. In short, FxPro is a platform you can grow into as you gain experience.
The educational content available on FxPro.com also caught our attention. You'll find learning paths for both beginners and advanced users, in the form of online courses, video tutorials and webinars.
Exness is a global broker with entities in 3 offshore countries. Trade swap-free across most markets, including Forex and crypto. If you open an account with Exness, you'll automatically fall under one of its entities in the Seychelles, the BVI or Curaçao.
- Likes
- Low and stable spreads.
- No swap charges across most FX pairs.
- Unlimited leverage on MetaTrader 4 and 5 (conditions apply).
- Withdrawals processed instantly in a wide range of currencies.
- Negative balance protection is available.
- Dislikes
- No access to a compensation fund in the event of bankruptcy.
- No CFDs on agricultural commodities, ETFs or government bonds.
Once you start trading with Exness, you soon understand why this broker is trusted by over 500,000 active clients. We traded through its MT5 Standard account with spreads from just 0.3 pips. Most instruments have no swap charges at all, which makes it easy to estimate how profitable each trade could be.
You'll find a wide range of instruments through its platform. These include over 100 currency pairs, crypto, U.S. stocks, global indices and commodities. The gold and silver crosses against the euro, the British Pound and the Aussie dollar will appeal to gold bugs.
Its web trading platform, built around TradingView charts, is sleek. If you're into technical analysis, you'll be able to customise charts with over 100 indicators and save them for later. Visit Exness to create an account and see for yourself what this broker has to offer.
NordFX is a fully offshore Forex broker serving traders since 2008. Trade CFDs on 33 currency pairs, crypto and more with flexible leverage up to 1:1000 only on MetaTrader 4. Start trading in minutes without any identity checks.
- Likes
- High leverage up to 1:1000.
- Copy trading and PAMM accounts are available.
- Start trading without ID.
- Dislikes
- NordFX offers fewer instruments than other brokers.
- NordFX only supports the MT4 platform.
- Withdrawal fees apply.
NordFX is one of few brokers that allows anyone to open an account and trade without having to provide proof of identity. However, you'll need to verify your identity later, upon raising a withdrawal request.
NordFX offers leverage up to 1:1000 across currencies and precious metals. However, as it reserves the right to adjust the maximum leverage based on market conditions, you could be surprised by a margin call if you use high leverage.
NordFX processes deposits and withdrawals fast, including on weekends. However, inconsistencies between deposit and withdrawal methods have been a source of frustration for us. Withdrawal fees, in the region of 4% for Visa and Mastercard, are a negative.
Pros of trading through an offshore broker
- Leverage: offshore brokers usually offer higher leverage than that available through brokers regulated in the EU, UK, Australia or even the UAE. Higher leverage will allow you to open larger positions, especially if you have a small deposit.
- Faster account opening: brokers established in offshore jurisdictions often have more flexible account opening procedures. We were able to open an account in under 5 minutes through most brokers listed in this article. NordFX and RoboForex go even further and allow you to start trading without having to show ID.
Cons of trading through an offshore broker
Brokers established in offshore jurisdictions have traditionally offered fewer protections. However, this isn't always the case, as competition between brokers has helped lift standards.
- No access to a compensation fund: unfortunately, none of the offshore brokers in our panel offer access to an investor compensation fund. This means that you could lose the entirety of your trading account's balance should your broker become insolvent. This also holds true for offshore brokers affiliated with the Financial Commission, as insolvency is specifically excluded from its coverage(1).
- Deposits and withdrawals: at times, you may find it harder to get money in and out of your trading account. For example, NordFX doesn't offer bank withdrawals in our country. Instead, we had to withdraw funds to a bank card and paid 4% in fees. To avoid making a costly mistake, review funding methods and fees carefully before making your first deposit.
- Segregated accounts: brokers regulated in developed markets like the UE or the UK are obliged, by law, to hold your deposit in a segregated account. This means that your funds are separate from theirs, and in some cases separate from other customers' funds. The offshore brokers listed in this article use segregated accounts too, even though no such requirement applies by law in their countries. NordFX is the only broker in our panel to commingle your funds with that of other clients.
- Negative balance protection: last but not least, brokers regulated in developed markets like the EU or the UK are obliged, by law, to offer negative balance protection to retail clients. This means that you can never lose more money than you've deposited. No such requirement applies to brokers established in offshore jurisdictions, however, most offer negative balance protection as standard.
Conclusion
Offshore brokers offer a number of advantages over regulated brokers, including higher leverage and faster account opening procedures. However, there are also some risks associated with trading through offshore brokers, such as the lack of access to a compensation fund.
Here are our tips to trade safely through an offshore broker:
- Open an offshore account with an award-winning broker who's been in business for many years, such as FPMarkets.com or FxPro.com.
- Focus your search on internationally regulated offshore brokers like FP Markets or FxPro. For example, FxPro is regulated in the UK, the European Union and South Africa in addition to the Bahamas.
- Finally, you could open offshore trading accounts with several brokers, rather than one, to protect yourself against your broker going bankrupt. We'd strongly recommend this if you plan on investing large amounts of money.
Share this article:
About the author
I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.
- 1. The Financial Commission. Compensation Fund. https://financialcommission.org/about/compensation-fund/