Forex Brokers Without ID Verification

By St├ęphane on 26/09/2023

Here's how to open an account in seconds with a broker that doesn't need ID verification, and trade CFDs on Forex, crypto and shares anonymously.

Brokers we recommend


4.1 / 5 RoboForex

RoboForex.com is an offshore broker based in and regulated in Belize. Access over 12,000 instruments, including real equities and CFDs on Forex, crypto and oil, from a single platform. We were able to start trading in minutes, without ID verification.

RoboForex is available in South Africa
58.42% of retail CFD accounts lose money

3.4 / 5 NordFX

NordFX is a fully offshore Forex broker serving traders since 2008. Trade 33 currency pairs, crypto and more with flexible leverage up to 1:1000 on MetaTrader 4. Start trading in minutes without ID checks.

NordFX is available in South Africa

Comparison table

Here's how and why rated these brokers, or learn more about our impartial 18-point methodology.

OverallMarketsTrading environmentDeposits and withdrawalsInvestor protectionCustomer service
RoboForex 4.1 5.0 4.5 3.9 3.2 3.8
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)
RoboForex 40338400101000204100
NordFX 331323423
MT4Copy tradingMT5
RoboForex
NordFX
Bank transferCredit cardDebit cardNETELLER *Skrill *Binance PayBTC (Bitcoin)USDT (Tether)
RoboForex
NordFX
BelizeVanuatu
RoboForex
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.



4.1 / 5 RoboForex

RoboForex.com is an offshore broker based in and regulated in Belize. Access over 12,000 instruments, including real equities and CFDs on Forex, crypto and oil, from a single platform. We were able to start trading in minutes, without ID verification.

58.42% of retail CFD accounts lose money
  • Likes
  • Access 12,000 instruments, including real stocks.
  • Start trading in minutes without ID verification.
  • Enjoy negative balance protection.
  • Dislikes
  • RoboForex is only regulated in Belize.
  • Withdrawal fees across most funding methods.
Our take on RoboForex

We were able to open and fund a trading account in under 5 minutes with RoboForex, an offshore broker established in 2009. RoboForex allows anyone to trade without verification, and will only ask for proof of identity upon raising a withdrawal request.

RoboForex allows you to trade across a wide range of markets. These include CFDs on Forex, precious metals, commodities, stocks and indices. You may also buy and hold over 8,000 "real" shares through its service, and receive dividends on your holdings.

RoboForex accepts a wide range of account funding methods, such as bank transfers, credit and debit cards and electronic wallets. As funding options will vary with your country, why not visit RoboForex.com to see for yourself.


3.4 / 5 NordFX

NordFX is a fully offshore Forex broker serving traders since 2008. Trade 33 currency pairs, crypto and more with flexible leverage up to 1:1000 on MetaTrader 4. Start trading in minutes without ID 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.
Our take on NordFX

We were able to trade in minutes with NordFX, without having to provide proof of ID or address. NordFX accepts customers from a wide range of countries, except residents from the USA, the EU (UK residents are allowed), Canada, Russia or sanctioned countries.

NordFX is an offshore broker in business since 2008, currently headquartered in Vanuatu. Trade CFDs on 33 currency pairs, 13 crypto-currencies, stocks, indices and more with up to 1:1000 leverage. NordFX supports the MetaTrader 4 platform and accepts all trading styles, including hedging, scalping and news trading.

Easily fund your account with a credit card, Skrill or Neteller. NordFX also accepts crypto-currency payments, either directly or via Binance Pay. However, bank transfers aren't possible and neither are crypto withdrawals. NordFX charges no fees on deposits, but withdrawal fees apply. Visit NordFX.com to get started.

Advantages of a broker without ID checks

  • Speed: with RoboForex and NordFX, you can open an account in seconds and fund it immediately after that. Seize trading opportunities almost as they occur. In contrast, most brokers require that you provide proof of identity and proof of address, which can add days to the registration process.
  • Anonymity: you'll be anonymous to either broker and can start trading in minutes with only an email address. However, you'll have to provide proof of identity (in the form of a passport) and proof of address in order to withdraw funds. Vanuatu, where NordFX is established, is a founding member of the Asia/Pacific Group on Money Laundering (APG) and is strengthening its anti-money laundering processes(1).
  • Privacy: because neither RoboForex nor NordFX require tax identification numbers, your trading activity and any profits will remain private. It is your responsibility to ensure that any taxes due are paid. However, you should note that Belize, where RoboForex is established, has signed tax information sharing agreements with the likes of Australia, Switzerland and others(2). Vanuatu has entered into similar agreements too.

Disadvantages of a broker without ID checks

  • Lack of transparency: brokers without ID checks are typically incorporated in countries with weak governance standards. Although Vanuatu has signed up to tax information and exchange treaties, it was only rated "partially compliant" by the OECD in relation to the availability of ownership information for offshore companies(3). This means that you may struggle to find out who ultimately owns your broker.
  • Lack of protection: brokers with no KYC checks, an abbreviation of "Know Your Customer", are often incorporated in countries without investor compensation funds. This is also the case with NordFX and RoboForex, as no investor compensation funds are available in these jurisdictions. This means that you could lose any funds in your trading account should either broker go bankrupt.
  • Risk of fraud: crucially, you will need to trust your broker to do the right thing. NordFX has been in business since 2008 and has won over 50 awards since. In 2023, it was voted Most Transparent Forex Brokerage Company UAE in the Finance Derivative Awards. And RoboForex has won over 30 awards since its launch in 2009, including Best Mobile Trading App in the 2023 GF Awards (B2B).

Conclusion

Brokers without ID checks offer advantages like rapid account setup, anonymity, and enhanced privacy. These factors appeal to traders seeking discretion or immediate access to the financial markets. However, there are notable drawbacks to consider. Operating in countries with weaker governance can pose transparency issues. And the absence of investor compensation funds will puts users' funds at risk in the event of bankruptcy.

If in doubt, focus your search on brokers with a successful track record like NordFX.com and RoboForex.com. You may also want to open accounts with several brokers, rather than one, if you are planning on investing large sums of money.

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Author

About the author

I'm St├ęphane, 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.

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