7 Best Offshore Forex Brokers for CFD Trading in 2024

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Offshore forex brokers are dealers or firms that enable forex brokers from all over the world to trade forex and CFDs. The major difference between them and regular forex brokers is that they are registered and located in Island nations where regulations and taxes are not very strict.

CFD trading is getting popular day by day. However, CFD trading is prohibited in many regions of the world. Offshore brokers enable traders to bypass this restriction. They allow traders to trade these assets worldwide.  In this article, have dedicated our, resources, and efforts to compile a list of the best offshore CFD brokers.

A list of the top 7 offshore CFD brokers for 2024

Here is the list of the best offshore brokers that offer CFD trading.

  • Hugosway | Best broker for ECN trading
  • KOT4X | Best broker for multiple accounts
  • LMFX | Most trusted offshore forex broker
  • LQDFX | Best broker for beginner traders
  • EagleFX | Best broker for STP executions
  • ProsperityFX | Best broker for trading crypto CFDs.
  • Hankotrade | Best broker for low trading fees

A Side-by-Side Comparison of Offshore CFD Brokers



  • Founded In:  2015
  • Minimum Deposit: $20
  • Maximum Leverage: 1:500
  • Regulations: MT4
  • Trading Platforms : MT4 
  • Trading Instruments: BTC, BCH, LTC, XRP, USDT, debit cards, PayRedeem, Confirmo


  • Founded In:  2015
  • Minimum Deposit: $50
  • Maximum Leverage: 1:1000
  • Regulations : None
  • Trading Platforms : MT4, WebTrader, Mobile Trader
  • Trading Instruments: Forex, Indices, Commodities, Metals, Energy, Shares 


  • Founded In:  2018
  • Minimum Deposit: $10
  • Maximum Leverage: 1:500
  • Regulations: None 
  • Trading Platforms: MT4, MT5
  • Trading Instruments: Forex, Cryptos, CFDs (Gold, Silver, Stock Indexes, Oil) 


  • Founded In:  2020
  • Minimum Deposit: $10 via Bitcoin ( $25 to $50 via third-party platform) 
  • Maximum Leverage: 1:500
  • Regulations: None
  • Trading Platforms: MT4
  • Trading Instruments: Forex, Indices, Energies, Cryptos, stocks CFDs, and Metals.


  • Founded In:  2019
  • Minimum Deposit: $10
  • Maximum Leverage: 1:500
  • Regulations: ASIC, 
  • Trading Platforms: TradeLocker
  • Trading Instruments: FX Pairs, Indices, Commodities, Metals, Stocks, Cryptos.


  • Founded In:  2019
  • Minimum Deposit: $10 (Credit, Debit Card: $50) 
  • Maximum Leverage: 1:500
  • Regulations: None
  • Trading Platforms: MT4, Webtrader
  • Trading Instruments: forex, cryptos, commodities, indices and stocks CFDs


  • Founded In:  2018
  • Minimum Deposit: $10
  • Maximum Leverage: 1:500
  • Regulations: None
  • Trading Platforms: MT4,WebTrader, Desktop Terminal
  • Trading Instruments: Forex, cryptos, commodities, indices and stocks CFDs

Best Offshore CFD Brokers Reviewed


Hugosway was registered in 2017 in St. Vincent and the Grenadines (SVG) as an online broker that provides the MT4 platform for trading forex and CFDs. It is an ECN/STP that offers tight spreads aggregated from multiple liquidity providers. Hugosway executes clients’ orders at the best market rates while charging a commission for each lot traded. 

The broker enjoys patronage by traders spread across the world, including USA and Canada. Every trading style or strategy is accepted, including hedging, scalping, and algorithmic trading. Bitcoin (BTC) is the major method used for deposits and withdrawals.


  • The minimum capital required to open a trading account is as low as $10.
  • The maximum leverage is high; up to 1:500
  • More than 150 instruments can be traded including forex, commodities, crypto CFDs, indices, and stocks CFDs.
  • Anonymous deposits via Bitcoin, PayRedeem eCards, or BTC via Instacoins.
  • The customer support desk can be reached on a 24/7 basis.


  • No regular Forex account that charges fees based on spread mark-ups.
  • No educational resources to help beginners. 
  • There are no trader tools or expert analyses.
  • Traders have no other platform choice except the MT4. 


KOT4X sums up its brokerage services by describing itself as the “kings of transparency”. Founded in SVG in 2017, KOT4X is an ECN/STP brokerage that offers about 250 tradable assets on its MT4 platforms. It has no dealing desk which means that there are no manipulations and no requotes.

Traders can choose from different account types depending on trading capital, trading instruments, spreads, and method of paying trading fees, either marked-up spreads or commissions. There are no hidden fees, and you are free to deploy your trading strategies.


  • You can start the opening position with a deposit of just $10.
  • Though only the MT4 is available, there are multiple account types.
  • Multiple Cryptocurrencies are accepted for deposits.
  • Spreads are tight; starting from 0.4 pips while max leverage is 1:500
  • PAMM accounts are available for investors or account managers.


  • There is no training academy to help beginner traders.
  • No other choice platform except the MT4.
  • Inactivity fees are charged. 


LMFX is an experienced offshore forex/CFD broker that has been operating since 2015 from the Republic of North Macedonia. The broker is known for high leverage and low trading fees. Client funds are held in segregated accounts while standard security procedures have been implemented.

LMFX provides a ‘fixed account’ for traders who prefer to trade fixed spreads. It also has ‘premium accounts’ which have variable spreads and ‘zero accounts’ which feature tight spreads and low commissions per lot traded. Newbies are provided training articles; they can also open demo accounts and participate in the monthly demo contest.


  • The maximum leverage is 1:1000 which is high when compared to competitors.
  • Trading tools like the Economic Calendar, trading calculators, and free VPS are available.
  • Traders can win up to $1,000 in the monthly demo account content tagged “Learn and earn” contest.
  • Accounts can be funded using Cryptos, debit/credit cards, bank transfers, PayRedeem eCards, and e-wallets like Skrill and Neteller.
  • New traders are welcomed with a 100% deposit match bonus.


  •  No social trading platforms or managed accounts for investors.
  • MT4 is the only platform provided for all traders.
  • Assets are limited; you cannot trade bonds, ETFs, and crypto CFDs.


This award-winning forex and CFD broker was founded in 2015 in SVG. It is an STP execution broker that forwards all orders to its liquidity providers for fast executions. Though unregulated, it ensures digital security and maintains clients’ deposits in segregated accounts.

LQDFX offers up to 5 account types to suit different kinds of traders. For example, $20 is required to open a micro account while you need $25,000 to open a VIP account. Beginner traders are provided a robust training package in the form of video lessons and an eBook.


  • The minimum deposit required to start live trading is $20.
  • More than 30 video lessons are provided to train beginner traders.
  • A 100% deposit bonus is given to traders who deposit from $250 to $20,000.
  • Accept multiple deposit methods such as debit/credit cards, cryptos, bank transfers, and PayRedeem eCards.
  • An Economic Calendar, trading calculators, and chart analysis are some of the trading tools provided by the broker.


  • MT4 is the only platform available for traders.
  • VIP accounts have a very high opening deposit.
  • No daily market news and analysis. 


This broker started its operations in 2019 from the Commonwealth of Dominica. On its MT4 platforms, you can speculate on the prices of over 150 forex and CFD assets. The broker offers only a real account and a demo account. Commissions are charged per lot traded from real accounts.

Accounts can only be funded through wire transfer or Bitcoin, if you do not have Bitcoin, you can be directed to buy it through Instacoins. Withdrawals are processed swiftly without charges.


  • You can choose your leverage starting from 1:20 up to 1:500
  • A minimum of $10 is required to open a live account and commence trading.
  • No restrictions on trading styles, strategies, or trading systems.
  • Clients are not charged for deposits or withdrawals.
  • 24/7 client support desk can be reached through email, web chat, or phone calls.


  • Limited payment options. 
  • No social trading or PAMM accounts.
  • No training resources for newbies, the education resources on the website are for affiliate marketers.  
  • No designation of account types to meet the needs of various types of traders.


ProsperityFX is a relatively new forex and CFD broker given that it was registered in 2020 in SVG. The broker accepts clients from all over the world who can trade about 200 assets on its MT4 trading platforms.

ProsperityFX offers multiple account types to meet the needs of different traders. Swap-free accounts are also available. You can fund your account with BTC and several altcoins but withdrawals are only in BTC.


  • You can trade with a maximum leverage of 1:500
  • A ProsperityFX account can be funded with either BTC or popular altcoins.
  • Proficient traders who are willing to prove their competency on a demo account can win up to $200,000 in trading capital for a real account while the reward is 80% profits.
  • Investors and managers can open PAMM accounts which can be rewarding to both parties.
  • You can contact the client support desk anytime 24/7.


  • There are no training resources for beginner traders.
  • No trading tools like market news and analysis to support traders.
  • MT4 is the only platform available for trading. 


This broker was registered in SVG in 2019 and has been enabling its clients to trade forex and CFDs on its MT4 and MT5 trading platforms. The broker guarantees tight spreads starting from 0.0 pips and lightning-fast executions powered by its premium liquidity providers.

Hankotrade is a true ECN broker that offers very competitive trading fees and no charges on deposits and withdrawals. Its ECN plus account holders pay just $2 per round lot traded. Its STP account spreads start from 0.7 pips and no commissions are charged.


  • Traders can choose from two powerful and popular platforms; MT4 and MT5.
  • Leverage is capped at 1:500
  • Multiple account types including Islamic, STP, ECN, and ECN Plus accounts.
  • PAMM/MAM accounts are available for interested investors and fund managers.
  • A 100% bonus is available to traders who deposit from $100 up to a max of $25,000.
  • Tools like the Economic Calendar, trading calculators, and VPS are provided.


  • No research tools like market news, expert analysis, or trading signals.
  • No provision for training of new traders.
  • The assets index is limited. 

Frequently Asked Questions (FAQs)

What is an offshore forex broker?

An offshore forex broker is a dealer or firm that operates outside the jurisdiction of any regulatory authority. These brokers are not subject to the same regulations and oversight as brokers based in regulated jurisdictions.

What is CFD trading?

CFD (Contract for Difference) trading is a form of derivative trading where investors speculate on the price movements of various financial markets without owning the underlying asset. It allows traders to profit from both rising and falling markets.

Can I trade CFDs with offshore forex brokers?

Yes, you can trade CFDs with offshore forex brokers. These brokers often offer a wide range of tradable instruments, including CFDs on various assets such as stocks, commodities, indices, and currencies, and crypto CFDs. Since offshore brokers are not bound by the regulations of specific jurisdictions, they have the flexibility to offer CFD trading alongside other financial products.

Can US traders trade CFDs?

Generally, CFD trading is prohibited in the United States, and regulated brokers in the US do not offer CFD trading services. However, US traders can access CFD trading through offshore forex brokers. Since these brokers are not authorized by US regulatory bodies, they can offer CFD trading services to US residents.

Final Thoughts :

Offshore forex brokers are mainly unauthorised online forex and CFD brokers. Since they are not regulated, they can offer a wide range of trading instruments including CFDs. 

Based on our research and brokers’ ratings, coupled, we came up with a list of the best offshore forex brokers that offer CFDs. They are Hugosway, Kot4x, Hankotrade, LQDFX etc.

These brokers charge affordable trading fees and provide fast trade executions and powerful trading platforms with great charting tools. Crypto CFD traders will find it convenient to trade with them. Do not forget that trading with offshore forex traders is highly risky as you may lose your trading capital.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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