Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Offshore Forex Brokers

Trading with offshore Forex brokers is a time-tested practice favoured by many profitable traders. However, only some of these brokers offer equally secure platforms and beneficial trading terms, so it is important to pick the right ones.

Our offshore Forex brokers review analyzed dozens of offshore Forex brokers that provide traders with regulated, trustworthy environments and competitive trading conditions.

1
4.9/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Regulated by nine regulators with offshore Forex trading from the British Virgin Islands.
Industry-leading education package via the spun-out Ava Academy.
2
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Offshore Forex trading from Mauritius & two tier-1 regulatory licenses.
A €20,000 investor compensation fund via the Hong Kong-based Financial Commission.
3
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Two tier-1 regulators with offshore Forex trading from St. Vincent and the Grenadines.
Competitive, commission-based trading fees & a well-balanced asset selection.
4
4.4/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Offshore Forex trading is offered from Mauritius & two tier-1 plus tier-2 regulators.
Payment processor choices with same-day withdrawals & 24/5 + 18/2 support.
5
4.3/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Trade 1,000+ financial instruments
Experience low, competitive spreads

Best Forex Brokers in Offshore at a Glance

  • AvaTrade, Highly regulated, choice of fixed or floating spreads.
  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • FP Markets, ECN trading with leverage up to 1:500.
  • Pepperstone, Great ECN execution on MT4 platform.
  • Eightcap, Competitive pricing + excellent daily videos.

Best Offshore Brokers Comparison

Regulators
ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFIDCMA, CySEC, FCA, FSC Mauritius, FSCAASIC, CySEC, FSCAASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBASIC, CySEC, FCA, SCB
Year Established
20062011200520102009
Execution Type(s)
Market MakerECN/STP, Market MakerECN/STPNo Dealing Desk, NDDECN/STP, Market Maker
Minimum Deposit
$100
$200
$100
$200
$100
Average Trading Cost EUR/USD
0.9 pips0.1 pips1.1 pips1.1 pips1.0 pips
Average Trading Cost GBP/USD
1.5 pips0.2 pips1.4 pips1.6 pips1.2 pips
Average Trading Cost Gold
$0.29 $0.18 $0.21 $0.20 $0.12
Trading Platform(s)
Other, MetaTrader 4, MetaTrader 5, Web-based+MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedMetaTrader 4, MetaTrader 5, cTrader, Trading ViewMetaTrader 4, MetaTrader 5, Trading View
Islamic Account
Negative Balance Protection
N/A

AvaTrade

In Summary Highly regulated, choice of fixed or floating spreads

AvaTrade maintains reasonable commission-free costs and a well-balanced asset selection, including options, ETFs, and cryptocurrencies. Besides MT4/MT5, AvaTrade upgrades its proprietary WebTrader and the mobile app AvaTradeGO with Trading Central. Traders also get Ava Option and Ava Social, placing AvaTrade among the offshore Forex brokers with the most trading platform choices.

The MT4 Guardian Angel plugin and the fee-based Ava Protect insurance policy protecting against losses are quality beginner trading tools. Copy traders can use the MT4/MT5 services, Ava Social, or DupliTrade, while AvaTrade also features a high-paying affiliate program with 145,000 registered partners and $300,000,000+ in commission payouts.

Read more on AvaTrade »
4.9/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special

FXTM

In Summary Best all-around broker with high floating leverage and fast execution

FXTM belongs to those offshore Forex brokers with the cheapest trading fees, ensuring its traders operate with a distinct competitive advantage. For a $500 minimum deposit requirement, Forex traders get raw spreads from 0.0 pips for a commission of $0.80 and $4.00 per 1.0 standard round lot. The FXTM price improvement technology typically lowers costs by an average of $3.00 per round lot.

Beginners receive actionable trading signals, the MT4 Pivot Point Strategy plugin, and quality education. Algorithmic trading, including 24/5 low-latency trading via VPS, is available in MT4/MT5.

Read more on FXTM »
4.8/5 in this category

Pros & Cons

  • Excellent commission-based Forex pricing environment and transparency
  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
  • Quality market research and educational content for beginner traders
  • A highly regulated broker with a tier-1 license
  • No cryptocurrencies and limited choice of commodities

FP Markets

In Summary ECN trading with leverage up to 1:500

Traders at FP Markets can benefit from a 12-plugin MT4/MT5 upgrade package, Trading Central, and Autochartist, placing FP Markets among the offshore Forex brokers with the most upgraded trading environment. MAM/PAMM modules cater to traditional account management services, and FP Markets publishes daily market reports via the FP Markets newsletter.

FP Markets offers 24/7 multi-lingual customer support, and beginners get quality education. FP Markets shines with its payment processor choices, including 15+ cryptocurrencies and fast payment processing times. Copy traders can diversify via embedded MT4/MT5/cTrader services, the proprietary FP Markets solution, fee-based Signal Start, and the well-known Myfxbook Autotrade.

Read more on FP Markets »
4.6/5 in this category

Pros & Cons

  • Choice of trading platforms and auxiliary trading tools
  • Very competitive cost structure and excellent asset selection
  • Low minimum deposit requirement and leverage of up to 1:500
  • Well-regulated and trustworthy
  • Availability of Iress geographically restricted

Pepperstone

In Summary Great ECN execution on MT4 platform

Pepperstone provides traders with the Smart Trader Tools package featuring 28 plugins for MT4/MT5, Autochartist, and Capitalise AI, which supports algorithmic trading in a code-free environment. It elevates Pepperstone to the offshore Forex brokers with the most cutting-edge trading tool. Traders also get a well-balanced asset selection, including cryptocurrencies and ETFs, while beginners get quality education and research.

Social traders can connect their Pepperstone account to TradingView, where 50M+ traders interact and share ideas. Copy traders can use the embedded copy trading services in MT4, MT5, and cTrader, which also support algorithmic trading, the well-known Myfxbook Autotrade, and DupliTrade.

Read more on Pepperstone »
4.4/5 in this category

Pros & Cons

  • Excellent choice of trading platforms consisting of MT4/MT5, and cTrader
  • Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
  • Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
  • Leverage of up to 1:30 and superb trade execution
  • Demo accounts have 30-day time limits

Eightcap

In Summary Competitive pricing + excellent daily videos

Eightcap established itself among the best Forex brokers due to its superb trading infrastructure, excellent order execution amid deep liquidity, competitive fees, and cutting-edge trading tools. Manual traders get a well-designed AI-powered economic calendar, and Eightcap upgrades MT4 via Capitalise AI, which enables algorithmic trading in a code-free environment. MT5 traders benefit from Flash Trader, while the dedicated cryptocurrency solution Crypto Crusher caters to cryptocurrency traders.

Copy traders get the embedded MT4/MT5 services, and Eightcap connects social traders to the active TradingView community. Beginner traders get an outstanding educational and research offering via Eightcap Labs and Eightcap Trade Zone.

Read more on Eightcap »
4.3/5 in this category

Pros & Cons

  • Low minimum deposit and high leverage of up to 1:500
  • Competitive cost structure
  • Excellent technology infrastructure and seasoned management team
  • Daily research and quality educational content
  • Limited leverage in some areas

What is an Offshore Forex Broker?

Offshore Forex brokers are Forex brokers regulated in a different jurisdiction than the home country of a trader but usually refer to Forex brokers in business-friendly island nations. Despite the misconception that these nations are underregulated, most have capable regulatory environments. While many sources favour the security and protection of tier-1 regulators, they fail to note that the most significant frauds usually occur in the US and Cyprus.

What to Look for in an Offshore Forex Broker

I have focused my review of offshore Forex brokers on the below aspects.

Offshore Forex brokers should offer the following:

  • Regulation - A clean regulatory track record of 10+ years.
  • Low trading fees - Competitive trading fees and swap rates.
  • Trading platforms - Algorithmic and copy trading platforms.
  • Asset diversity - A choice of liquid assets.
  • Deposits/Withdrawals - No internal transaction fees and low minimum requirements.

Pros & Cons of Trading with Offshore Brokers

Traders should carefully consider the pros and cons of offshore Forex brokers.

The pros of Forex trading with offshore Forex brokers are:

  • Flexible trading conditions
  • Higher leverage with negative balance protection
  • More payment processors
  • Ultra-competitive trading conditions
  • Low trading fees
  • Bonuses and incentives
  • Segregated client deposits with reputable banks

The cons of Forex trading with offshore Forex brokers are:

  • Potentially less investor protection (broker dependent)

Bottom Line

My offshore Forex brokers review has revealed several first-class offshore Forex brokers offering secure trading environments, advanced tool-rich platforms, and attractive trading terms. Many Forex brokers in tier-1 jurisdictions also operate offshore subsidiaries to provide traders worldwide with competitive trading conditions.

You might also be interested in reviewing the below top brokers:

FAQs

Can US citizens use offshore Forex brokers?

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No, reputable offshore Forex brokers do not usually accept US citizens.

Are offshore Forex brokers safe?

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Most offshore Forex brokers are safe, regulated, and have a clean operational track record.

What’s the biggest risk of trading with offshore brokers?

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Failure to conduct proper due diligence is the biggest risk of trading with offshore brokers.

What is an offshore regulated broker?

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An offshore regulated broker operates outside the trader's country, and the jurisdiction regulates the broker.

Christopher Lewis
About Christopher Lewis

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.