Best Offshore Brokers And Trading Platforms

Although offshore brokers come with many benefits and a lot of flexibility, it’s important to be aware of the risks that come with offshore investment accounts. 

This article outlines offshore brokerage accounts, along with everything you need to know about the pros and cons of offshore accounts. Read our guide on brokerage accounts here.

What are Offshore brokers?

Offshore brokers are unregulated brokers that allow you to open investment accounts outside of your original country’s jurisdiction. 

An offshore broker offers you a lot more flexibility compared to regulated brokers. After you have deposited an initial amount into your offshore account, you are able to start trading regardless of your credit or cash source.

Offshore brokerage accounts are used for holding, investing, and trading a wide range of financial instruments. These include stocks, Forex, bonds, and many more. The offshore status of this account allows you to move your assets with significant tax benefits.

In most cases, offshore broker accounts are owned by companies and not individuals. This is not a common account type for small or inexperienced retail traders.

Pros and Cons of Using an Offshore Broker

These brokers have several benefits and drawbacks compared to regulated brokers. These are important to be aware of before you decide to open an account.

These are the most common pros of offshore brokerage accounts:


You are able to make investments and earn profit anywhere around the world at any time. There is a wide range of investment options offered in offshore accounts. This includes stock, Forex, bonds, futures, mutual funds, and more.

Tax Advantages

This offers many tax savings and incentives for businesses. Regulated forex brokers need to follow strict regulations that ensure the market remains fair, but offshore brokers avoid these restrictions.


Most unregulated Forex brokers have a much higher ratio than the US limit. This leverage allows you to have far more freedom to risk your funds for higher returns. On the other hand, this opens you up to much greater risk.


The offshore status of your account means that your financial activity and information will not be disclosed. Most offshore firms set out strict confidentiality frameworks that make sure their customers have protection.

These are the most common cons of offshore brokerages:

Expensive Account Opening

Offshore accounts often have a much higher initial deposit. Although this varies between brokers, the cost to open an offshore account is more expensive than regulated accounts. 

Financial risk

Untrustworthy brokers with bad reputations are known to scam customers. These brokers are free to scam without repercussions because they are unregulated. While some offer many benefits, they can be risky.

Some brokers have been known to evade taxes and hold illegal information about foreign customers. This has lead to many countries strengthening their tax laws, particularly the US and Europe. 

Should You Use One?

They offer you much more flexibility and freedom in your trading compared to regulated brokers. With this said, these brokers are not suited for any small Forex traders. Beginner traders especially should steer clear. 

Offshore trading is only recommended for highly experienced traders. You need to be confident in your investment strategies and risk management in order to find this kind of freedom appealing.

Offshore accounts are ideal for investors or companies who are looking to move financial assets without taxation. Offshore brokers have fewer expenses than regulated brokers. This saves a lot of money because of lower operational costs. 


It’s essential to be aware of the risks involved in offshore trading. If you use an unregulated broker, you’re dealing with the broker in the dark. While it is legal to use offshore accounts, you do so at your own risk.

They are not regulated by any financial body or government, so no one is monitoring them to make sure they don’t steal from you. If you are scammed then there is little you can do to get your assets back. This is why you need to do thorough research into a broker’s reputation before you decide to trust one. 

Offshore Stock Brokers

These are the top 5 best offshore Forex brokers. The following brokers have been reviewed in terms of reliability, brokerage service, and reputation.

  1. PayForex – Best overall 4.6/5
  2. Trader’s Wa – Best low cost account fees 4.5/5
  3. Daxbase – Best account opening 4/5
  4. Juno Markets – Best trading tools 4/5
  5. AM Broker – Best educational resources 3.5/5

Offshore Forex Brokers Accepting US Clients

These are the top 4 best offshore Forex brokers that accept US clients. If you are a US citizen, it’s important to choose an offshore broker that offers services to the US.

  • LMFX – Best overall for US traders 4.5/5
  • Turnkey Forex – Best service speed 4/5
  • EagleFX – Lowest account fees 4/5
  • LQDFX – Best account variety 3/5

Tier 2 Brokers

  • Hanko Trade – Best range of trading instruments 3/5
  • Renesource Capital – Best trading platforms 3/5
  • AAFX – Easiest withdrawal methods 3.5/5
  • FxGlory – Low account fees 2/5
  • SageFX – Best account opening 2/5

Is it Legal to use an offshore broker?

It is legal to open an account with an offshore broker. If anything happens to your assets though, then there is nothing you can do. It’s important to be aware that you have no legal rights when it comes to using unregulated brokers. This is why you need to choose a reputable firm.

Are offshore brokers safe?

Yes, it is safe to open an offshore account as long as you choose a trustworthy broker with a good reputation. Most offshore brokers are not inherently insecure, but there are cases of fraud reported. It’s important to thoroughly research your broker to be aware of any potential risks.


To summarize, opening an account through an offshore broker has its risks and rewards. 

If you are interested in using an offshore broker then it is vital that you do thorough research and financial planning before investing. It’s highly recommended to choose a broker with an established reputation.

While offshore accounts come with many financial risks, this is a great way for experienced traders to increase their profits and asset flexibility through tax benefits.

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Ziga Breznik


About the author

Ziga Breznik is the owner and head of research at – he is an active investor in the forex, crypto and stock markets – he has seen trading platforms disappear along with his investments – especially during the “crypto boom”. Ziga learned the hard way that finding a reputable and trustworthy online brokerage is key to long-term success in the financial markets. He founded as a platform where he shares his research with one goal in mind: to provide unbiased and trustworthy online brokers reviews.