5 Offshore Forex Brokers Offering MT5 Trading Platforms ( Reviewed and Tested)

An offshore forex broker is a company that operates outside a trader’s home country, often in jurisdictions with less strict regulations. These brokers typically offer higher leverage, lower spreads, and fewer restrictions, attracting traders from regions with tighter forex regulations.

The MT5 platform, or MetaTrader 5, is a popular trading platform widely used in the forex market. Building upon the foundations of its predecessor, MT4, MT5 offers enhanced features such as advanced charting tools, more technical indicators, and the capability to analyze multiple markets simultaneously. 

If you’re a US trader looking for offshore forex brokers, you might notice that many of them don’t offer the MT5 trading platform. While some brokers that used to provide MT4 are now switching to other platforms like ActTrader, Pro4, or TradeLocker, there are still a few offshore forex brokers that do support MT5.

In this post, we will take a closer look at the best offshore forex brokers that offer the MT5 trading platform. We’ll cover their key features, the advantages and disadvantages of each broker, and what makes them unique.

A list of Top Offshore forex brokers with MT5 Trading Platform

• PlexyTrade: Most Trusted Offshore Broker with MT4, MT5, PAMM Account
• N1CM:  Free access to Autochartist™ tools
• SolidECN: MT5 Brokers with ECN/STP Execution
• NextTrade: FSCA Regulated MT5 Broker
• MidasFX: Offshore Broker with DMA

A Comparison Table of Offshore Brokers that Support MT5 Platforms

5 Best Offshore Forex Brokers Offering MT5 Trading Platforms ( Reviewed and Tested) 

1. PlexyTrade:

Founded in 2024, PlexyTrade is an offshore forex and CFD broker that provides traders with access to a wide range of financial instruments. With more than 100 tradable assets, including major cryptocurrencies, forex pairs, commodities, and global indices, PlexyTrade caters to traders worldwide. Despite being an unregulated broker, it offers flexibility in trading styles, supporting scalping, hedging, news trading, and more.

PlexyTrade stands out for its high leverage, offering up to 1:2000, making it an attractive option for those seeking to maximize their trading potential. The broker provides access to two of the most popular trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), allowing users to trade CFDs with raw spreads starting from 0.0 pips and benefit from lightning-fast execution speeds, averaging under 46 milliseconds.

Key Features:

• Leverage: Up to 1:2000.
• Spreads: Raw spreads from 0.0 pips.
• Execution Speed: Fast execution under 46 milliseconds.
• Trading Instruments: Over 100 instruments, covering multiple asset classes.
• Commissions: Zero commission on stocks, metals, and indices.
• Trading Platforms: MT4 and MT5.

Pros:

• The maximum leverage is as high as 1:2000 ( Leverage may vary based on account types and tradable asset types) 
• Allow Crypto CFD Trading 
• The maximum lot size is as high as 1000 lot 
• Raw spread starting from as low as 0.0 pips 
• Offers MT4, and MT5  trading platforms (Desktop, Web, mobile version) 
• Demo Accounts are Available 
• Higher Leverage for US, and EU clients. 
• Allow Scalping, EA Trading, and News Trading 
• Plexytrade Accepts Crypto Deposits

Cons:

• Unregulated offshore forex broker 
• Only Crypto  Deposit and Withdrawal Option 
• A limited number of tradable assets 

2. N1CM 

Founded in 2017, N1CM (Number One Capital Markets) is an offshore forex and CFD broker, offering a wide variety of instruments, including forex pairs, commodities, and indices. As an unregulated broker based in Vanuatu, N1CM appeals to traders looking for high leverage and flexibility. With its focus on providing deep liquidity and competitive trading conditions, the broker is ideal for scalpers, day traders, and those using automated trading systems.

N1CM offers leverage of up to 1:1000, giving traders the ability to amplify their market exposure. With raw spreads starting from 0.0 pips and an ultra-low commission structure, N1CM ensures traders have access to tight spreads and low trading costs. The broker supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their robust functionality and ease of use.

Key Features:

• Leverage: Up to 1:1000.
• Spreads: Raw spreads from 0.0 pips.
• Execution Speed: Fast execution with deep liquidity.
• Trading Instruments: Forex, commodities, and indices.
• Commissions: Low ECN commission structure.
• Trading Platforms: MT4 and MT5.

Pros:

• No Minimum Deposit – Starting from $1
• Allow Crypto CFD Trading 
• Offers leverage as high as 1:1000
• The maximum lot size is as high as 1000 lot 
• Low Fees trading: Spreads starting from as low as 0.5 pips 
• Offers MT4 and MT5  trading platforms (Desktop, Web, mobile version) 
• Demo Accounts are Available 
• PAMM/ MAM accounts are offered 
• Higher Leverage for US, and EU clients. 
• Allow Scalping, EA Trading, and News Trading 
• N1CM Accepts Crypto Deposits

Cons:

• Unregulated Offshore Forex Broker 
• Limited Number of tradable assets
• No Passive Investment programme like PAMM, MAM

3. SolidECN 

Founded in 2020, Solid ECN is an online forex and CFD broker. It is an offshore forex broker that offers Forex, Stocks, Indices, Commodities, and CFDs to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of Solid ECN is as high as 1:1000. 

Key Features:

• Leverage: Up to 1:1000.
• Spreads: Raw spreads from 0.0 pips.
• Execution Speed: Fast execution with deep liquidity.
• Trading Instruments: Forex, Stocks, Indices, Commodities, and CFDs.
• Commissions: Commission starting from $8.
• Trading Platforms: MT4 and MT5  trading platforms (Desktop, Web, mobile version).

Pros:

• No Minimum Deposit – You may deposit as low as $1
• Allow Crypto CFD Trading 
• Offers leverage as high as 1:1000
• Very tight spreads starting from 0.0 pips 
• Offers MT5 trading platforms (Desktop, Web, mobile version) 
• Demo Accounts are Available 
• Higher Leverage for US, and EU clients. 
• Allow Scalping, EA Trading, and News Trading 
• Solid ECN  Accepts Crypto Deposits

Cons:

• Unregulated Offshore Forex Broker 
• Only Crypto  Deposit and Withdrawal Option 
• No Managed Account Options

4. NexTrade: 

Founded in 2020, NextTrade is an online forex and CFD broker. It is an offshore forex broker that offers 138 forex pairs, stocks, indices, commodities, and cryptocurrency services to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of NextTrade is as high as 1:500.

Key Features:

• Leverage: Up to 1:500.
• Spreads: Raw spreads from 0.4 pips.
• Execution Speed: Fast execution with deep liquidity.
• Trading Instruments: Forex, Stocks, Indices, Commodities, and CFDs.
• Commissions:  $7 per standard lot traded.
• Trading Platforms: MT5, Tradelocker

Pros:

• Low Minimum Deposit – Starting from $10
• Allow Crypto CFD Trading 
• Offers leverage as high as 1:500
• The maximum lot size is as high as 1000 lot 
• Spread starting from 0.4 pips
• Offers MT5, Tradelocker trading platforms
• Demo Accounts are Available 
• Higher Leverage for US, and EU clients. 
• Allow Scalping, EA Trading, and News Trading 
• Nexttrade Accepts Crypto Deposits

Cons:

• Offshore Forex Broker 
• Limited deposit and withdrawal methods
• Only MT5, Tradelocker is available ( No MT4 or other trading platforms) 

5. MidasFX:  

Founded in 2020, MidasFX is an online forex and CFD broker. It is an offshore forex broker that offers 100+ trading instruments including forex, metals, energies, stock indices, and cryptocurrencies to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of MidasFX is as high as 1:1000. 

Key Features:

• Leverage: Up to 1:1000.
• Spreads: Variable spreads from 0.0 pip.
• Execution Speed: Fast execution with deep liquidity.
• Trading Instruments: Forex, Cryptos, Indices, Meta.
• Commissions:  Commission $5 per 100k
• Trading Platforms: Mt4, MT5

Pros :

• No Minimum Deposit- You may deposit as low as $1
• Allow Crypto CFD Trading 
• Demo Accounts are Available 
• Higher Leverage for US, and EU clients. Maximum leverage is as high as 1:1000
• Allow Scalping, EA Trading, and News Trading 
• MidasFX Accepts Crypto Deposits

Cons:

• Unregulated offshore forex broker
• Limited Deposit and Withdrawal Option 
• No Managed Account Options

Our Methodology:

Our team developed over 170 data points grouped into 6 macro areas for assessing the performance of forex brokers. They are as follows:

• Regulation and Security
• Fees and Commissions
• Trading
• Trading tools
• Customer Support
• Trading Education

Our team collated information from various sources and verified them before assessment and rating. We tested the services offered by the brokers using various devices, softwares, and strategies. Final fact-checking, evaluation, and editing were done and the best brokers were selected. To find out more, read our methodology.