Best Offshore Forex Brokers

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Contributor, Benzinga
May 21, 2024

After the passage of the Dodd-Frank Act in 2010, forex trading in the U.S. became less exciting. With significant leverage limits and a ban on hedging, the legislation made it harder for investors to take the big risks they needed to make big profits.

As a result, some traders have found an alternative: offshore forex brokers. While some of these brokers are still governed by strict regulations, others aren’t. Here’s Benzinga’s guide to the best ones.

Quick Look: Best Offshore Forex Brokers

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Offshore Forex Brokers

If you’re considering getting into offshore forex trading, here are some great brokers to check out.

1. Best for U.S. Traders:

  • NON US
    Best For:
    Fast, Reliable Execution and High-Volume Traders
    securely through NON US's website

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% to 77.7% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

    The products and services available to you at will depend on your location and on which of its regulated entities holds your account is a trusted broker for forex and CFD traders worldwide. They offer a wide range of tradable currencies, low minimum account requirements, and a great trading platform. One of's best qualities is the speed at which it executes trades — the average time is a mere 0.04 milliseconds.

They are also one of the best offshore forex brokers that accepts US clients. is based in Bedminster, New Jersey, and it’s one of the most regulated sites on the list. Additionally, it has a low minimum spread of 0.2 pips, and leverage goes up to 500:1 for professional accounts.


  • Accepts U.S. citizens
  • MetaTrader 4 and MetaTrader 5 available to the U.S.
  • Demo account
  • Regulated by seven organizations
  • Very fast average order execution of 0.04 ms
  • 80+ currency pairs


  • Contacting customer support is difficult
  • Higher initial deposit

2. Best for Easy-to-Use Forex Platform: Trade Nation

  • Trade Nation
    Best For:
    Easy-to-Use Forex Platform
    securely through Trade Nation's website

    86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing money.

Trade Nation is a unique and powerful forex and CFD broker that offers fixed spreads and a transparent fee schedule. This means that you know how much you’ll be spending, you can calculate your overhead costs and taken better control of your portfolio.

Everything is handled online, and you will find that it’s simple to navigate the site. Once you open and fund your account, you will gain access to over 1000 markets. Mobile traders can get the same results without a loss of quality or experience, demo accounts are risk-free if you want to learn more about the platform and copy trading is also available.

While it’s unavailable for U.S. traders, Trade Nation offers the best option for beginners and intermediate traders who want to grow their portfolios and expertise. 


  • The platform is easy to navigate
  • Demo accounts
  • Competitive fixed spread
  • No account minimum and deposit fees
  • No inactivity and withdrawal fees
  • Negative balance protection


  • Not available to U.S. traders
  • Trading conditions and proposals may vary based on regulators

3. Best for Experienced Traders: Interactive Brokers

Interactive Brokers is based in the United States and compliant with U.S. regulations. In 2020, it won Best Broker for Economical Investment from NerdWallet and Best Online Broker from Barron’s. 

Interactive Brokers can be used on the web or mobile, and its interface includes complex features ideal for more experienced investors. As a bonus, there’s no minimum deposit. The downside is IBKR only accepts institutional forex traders based in the U.S.


  • Trustworthy and has won multiple awards
  • Spread starts at zero
  • Accepts U.S. institutional traders
  • 100+ currency pairs


  • Complex interface may be confusing for newer traders
  • Registration is lengthy and complex

4. Best for High Leverage: RoboForex

Located in Belize, RoboForex has leverage options up to 2,000 to 1. It’s a great choice for anyone looking for algorithmic trading, as you can develop automated trading strategies without needing to code them.

With over 12,000 trading instruments available, including stocks, ETFs, and popular assets such as gold, oil, and indices, RoboForex offers a diverse range of investment options. The trading conditions are cost-effective, with commission charges for Stocks starting at 0.009 USD per share, the lowest commission for Indices being 4 USD for 1 million USD of trading volume, and spreads that can reach 0 pips.


  • No deposit fees
  • No inactivity fees
  • Negative balance protection
  • Supports multiple trading platforms
  • Intuitive platform is great for beginners
  • Minimum deposit is $10


  • Most accounts only include 36 currency pairs
  • Doesn’t accept U.S. clients

5. Best for Fast Execution: Blackbull Markets

BlackBull Markets is a multiple award-winning New Zealand-based forex and contract for difference (CFD) broker with over 26,000 tradable instruments, including equities, cryptocurrencies, indices and commodities. CFD trading lets you profit from rising and falling markets by entering into contracts with a broker to exchange the difference in an asset’s value between the opening and closing of the trade.


  • Comprehensive range of tradable instruments across diverse asset classes
  • Transparent, affordable and competitive pricing
  • $0 minimum deposit
  • Excellent educational or learning resources for beginners and seasoned traders


  • Unavailable in the U.S. and Canada
  • Does not offer bonds and exchange-traded funds (ETFs)

What is an Offshore Forex Broker?

An offshore forex broker is a broker that operates outside the U.S., typically one with lax regulations. Many of these brokers aren’t subject to regulations that limit leverage. These brokers typically operate in locations that offer favorable tax benefits and regulation for financial services.

Offshore forex brokers can provide traders with access to the global forex market, often offering competitive trading conditions, diverse trading instruments, and higher leverage options compared to brokers based in regulated jurisdictions. Traders should exercise caution when choosing an offshore forex broker, as they may not have the same level of regulatory oversight and protection as brokers based in well-regulated jurisdictions.

Why Choose an Offshore Forex Broker?

If you’re looking to get into forex trading or just want to diversify your investments, there are several advantages of offshore forex brokers to consider, including:

  • Leverage: In the U.S., forex leverage is limited to 50:1, but some offshore brokers offer leverage up to 1,000:1.
  • Higher flexibility: Lax or nonexistent regulations allow you more investment flexibility.
  • Hedging: Hedging is permitted by brokers not subject to U.S. regulations.

Not all benefits apply to all offshore brokers. For instance, if an offshore broker is regulated by U.S. authorities, its leverage limit will still be 50:1.

Why Avoid an Offshore Forex Broker?

Offshore forex brokers offer the potential of a better return on investment. However,  they present their share of risks as well. For instance:

  • Lack of regulation: You’ll likely have no recourse if your money is lost for any reason.
  • Fraud risks: Thanks to the lack of regulations, there are more opportunities for fraud on the part of the broker.
  • Bonus lockups: Bonuses may be held until you hit a certain turnover target.
  • Managed account fraud: Some clients are drawn in to pay for managed accounts that don’t actually exist.
  • Price manipulation: Some offshore brokers may artificially manipulate prices in order to trigger stop-loss orders.

Before you choose a broker, look at some customer reviews — chances are good that potential downsides will be mentioned there.

What to Look for in an Offshore Forex Broker

How do you choose an offshore broker? To find the best brokers, you’ll want to consider a few factors:


The best brokers will have solid reviews. If you’re part of a forex trading community, ask your sources about the broker’s reputation.

Account Features

Some brokers have very basic interfaces. Others have features geared toward professional investors. Make sure you take an in-depth look.


Some brokers have minimum deposit requirements, withdrawal fees and other account maintenance expenses. It’s important to understand the total cost before committing.

Customer Support

If you run into an issue, you’ll want to contact the support team as soon as possible. Find out how and when you can reach the support staff.


The right trading platform makes all the difference. See whether the broker has a web platform, a mobile platform or both.

Diversify Your Portfolio with Offshore Forex Trading

Although you should exercise caution when choosing a broker, working with an offshore forex broker can help keep your portfolio healthy and diverse. If you’re developing a winning forex strategy or looking for tips for success, Benzinga is here to help.

Frequently Asked Questions


Can U.S. citizens use offshore forex brokers?


They can, although any offshore broker doing business with U.S. citizens must be regulated by both the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).


Are offshore forex brokers safe?


If they’re regulated, they generally are. But working with unregulated brokers opens you up to significant risk. 


Is forex illegal in the U.S.?


While forex is legal, it’s tightly regulated by the Commodity Futures Trading Commission (CFTC).

Get a Forex Pro on Your Side, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
  • Powerful, purpose-built currency trading platforms
  • Monthly cash rebates of up to $9 per million dollars traded with’s Active Trader Program

Learn more about’s low pricing and how you can get started trading with