6 Best Offshore Forex Brokers for Crypto Trading

The popularity of crypto trading is on the rise. Trading crypto requires a reliable partner. In Many Jurisdictions trading crypto CFD is restricted. Offshore forex brokers enable traders to trade those assets. Since offshore forex brokers are not under strict regulation, they can offer flexible trading options including a wide range of trading instruments, low cost, high leverage etc. 

In this article, we committed several resources, time, and experience to come up with a list of the best offshore brokers for crypto trading.

Below is our list of the best offshore brokers for Crypto CFD Trading: 

• Hugosway | Best broker for ECN trading
• KOT4X | Best broker for multiple accounts
• 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

Offshore Forex Brokers for Crypto Trading: Side-by-Side Comparison

Best Offshore Forex Brokers for Crypto Trading Reviewed in 2024

Hugosway

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.

Pros

• 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.

Cons

• 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

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.

Pros

• 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.

Cons

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

LQDFX

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.

Pros

• 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.

Cons

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

EagleFX

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.

Pros

• 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.

Cons

• 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

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.

Pros

• 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.

Cons

• 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. 

Hankotrade

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.

Pros

• 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.

Cons

• 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 financial institution that operates in a jurisdiction different from where the trader resides. These brokers are typically registered and regulated in countries or territories with favorable tax regulations and lenient financial regulations. They often attract traders by offering competitive trading conditions, such as higher leverage ratios and lower fees. However, trading with offshore brokers can pose risks due to the lack of stringent regulatory oversight compared to brokers regulated by major financial regulators like SEC, ASIC, FCA, and CySEC. 

What is crypto CFD Trading?

Crypto CFD (Contract for Difference) trading is a derivative trading method that allows traders to speculate on the price movements of cryptocurrencies without actually owning the underlying assets. When trading crypto CFDs, traders agree with a broker to exchange the difference in the price of a cryptocurrency from the time the contract is opened to when it is closed.

In crypto CFD trading, traders can profit from both rising and falling cryptocurrency prices. They can go long (buy) if they anticipate the price will rise or go short (sell) if they expect the price will fall. 

Conclusion:

Offshore forex brokers are not strictly regulated forex brokers. So, they can accept foreign clients from most countries of the world. They can easily offer a wide range of trading instruments including crypto CFD trading. 

Based on our research and brokers’ ratings, coupled, we came up with a list of the best offshore forex brokers for crypto trading. They are Hugosway, Kot4x, Hankotrade 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.