Best Offshore Forex Brokers Accepting US Clients in 2022.
Best offshore Forex brokers are offering 1:1000 leverage, No FIFO Rule, Hedging, Scalping, EA and Crypto trading, deposit bonuses, less hassle and greater results! Check top 3 trusted offshore Forex brokers accepting US Clients in 2022.
Why choose LMFX?
1. Leverage 1:1000, No FIFO rule, Hedging, Scalping, EA trading allowed.
2. No markup and super-tight spread from 0.2 pips, No Requotes.
3. 100% credit bonus,15% recovery bonus (withdrawable/tradable).
4. Withdrawal within 2 hours. No deposit or withdrawal fees. Minimum deposit — $50. Accept Bitcoins.
5. Forex 46 pairs, Indices 9, Metal & Oil 7, Commodities 5, Shares 15 instruments.
6. Offers 3 different accounts, with fixed and variable spreads.
7. Win $1750/month trading on demo account in the Earn and Learn Contest.
8. Totally free — 7 essential Forex calculators and economic calendar.
9. 24/5 multilingual Live Chat support.
Why LQDFX ranked first?
1. Leverage 1:500, No FIFO rule, Hedging, Scalping, and EA trading allowed.
2. Full STP execution — Spread from 0.1 pips, lightning-fast execution, No Requotes.
3. 100% deposit bonus from $250 to $20 000 (withdrawable).
4. No deposit/withdrawal fees. No withdrawal complaints. Minimum deposit — $20. Accept Bitcoins.
5. Forex 71 pairs, Indices 11, Metal & Oil 6, and Commodities 4 instruments.
6. Offers 5 different account types to meet the needs of all types of Forex traders.
7. Daily free chart analysis, market news and economic calendar.
8. PAMM account for Fund Managers and Investors.
9. 24/5 multilingual Live Chat support.
Why choose EagleFX?
1. Leverage 1:500, No FIFO rule, Hedging, Scalping, EA, news spike trading allowed .
2. Ultra-fast STP execution, spread from 0.2 pips, No Requotes.
3. No KYC documents are required for live trading.
4. Withdrawal requests are reviewed within 30-minutes. Min. deposit — $10. No deposit/withdrawal fees. Accept Bitcoins.
5. Forex 52 pairs, Indices 10, Metal & Oil 6, Shares 73, Crypto 38 instruments.
6. 24/7 Cryptocurrency trading without any interruption.
7. PayPal via Coinbase is available for withdrawals.
8. Daily free market analysis and market news.
9. 24/7 multilingual Live Chat support.
Home » Best offshore Forex Brokers Accepting US Clients 2022.
Why do US citizens search for offshore Forex Brokers?
Do you remember the Great Financial crisis of 2008?
After the big US banks went bankrupt at the height of the financial crisis, watchdogs like CFTC and NFA decided to make amendment in regulation to fill loopholes of financial sector.
Forex Brokers in the US are regulated by the National Futures Association (NFA) and the Commodities and Futures Trading Commission (CFTC). The regulatory framework set out by these 2 bodies are often found too strict for free trading compared to other regulatory bodies around the globe.
Restrictions imposed by CFTC and NFA on US licensed Forex Brokers:
1. Low Leverage : Maximum leverage allowed by US licensed Forex brokers was just 1:50. This means that US citizens or residents have no leverage advantage over other global traders who can obtain leverage ranging from 1:100 to 1:2000 through offshore Forex Brokers.
2. No Hedging & FIFO : US based Forex brokers don’t allow hedging and they must implement FIFO (First In First Out), which means that if you open more than one position on a currency pair, you must close the first before closing the second one, which is not-so-straightforward way of preventing hedging. There is no such FIFO rule while trading with the best offshore Forex brokers that accepts US clients or citizens.
3. OFAC Restriction : The office of Foreign assets and control (OFAC) has placed limitations on who US Forex brokers, can accept as a client. US citizens or residents need to go through hassle of long checklists before opening account with US Forex brokers.
4. Credit Card Restriction : US citizens or residents are not allowed to use their credit card to fund their Forex trading account.
5. No Value Added Services : US based Forex brokers are bound by stringent laws and regulations which prevent them from offering much flexible & value added trading services to US Citizens. But, the best offshore Forex brokers accepting US clients can offer these helpful trading services without much restriction.
Can US Citizens use offshore brokers?
Regardless of the regulation, US citizens can still open an account with an offshore Forex broker that accepts US citizens in 2022 (Top 3 offshore Fore brokers are reviewed below).
A large number of foreign governments have signed Memorandums of Understanding (MoUs) with US regulations (CFTC). Although the MoU agreement put pressure on these foreign governments (who signed the MoU agreement) to deny US citizens the ability to open a Forex trading account with Forex brokers in their jurisdictions, many countries have yet to sign the MoU agreements and thus are not bound by US pressure and regulations.
This means that offshore Forex brokers can accept US citizens in countries where no MoU has been signed with CFTC .
Why are most Forex brokers don’t accept US Clients?
Mostly because Dodd-Frank Act requires that Forex brokerage company who wants to do business with US clients must first be registered with both CFTC and NFA.
Many offshore or foreign Forex brokers find this very difficult and costly operation with tedious reporting requirements.
Just license fee of NFA and CFTC is 20 million USD compared to max. 1 Million USD licence fee of other reputed jurisdictions like FCA (UK), ASIC (Australia), FSP (New Zealand) and CySEC (Cyprus).
To avoid such high fee, high operational expense and paper mess, offshore Forex brokers just stopped accepting US citizens. It is easier for them to decline the US citizens than incur the unforeseen expenses.
So, Dodd-Frank Act is the primary reason that has forced offshore Forex brokers to decline US clients or citizens or residents.
Why do US citizens prefer to trade Forex with offshore brokers? ​
1. Freedom : The offshore Forex brokers accepting US clients conduct all their major operations overseas and set up headquarters in a place that does not have a large number of regulations and constraints, which means offshore Forex brokers can offer leverage from 1:100 to 1:1000, No FIFO rule, No Hedging restrictions, No Scalping restrictions, No EA trading restrictions.
2. Greater Results : Because of better trading conditions and execution quality, chances of making greater results for US citizens increases with the best offshore Forex brokers.
3. Less Hassle : US clients do not have to meet a lot of requirements with offshore Forex brokers accepting US clients as opposed to the list of boxes that they have to tick if they opt for US regulated Forex brokers.
4. Excellent Trading Conditions : Because of high competition offshore Forex brokers offers tight spreads, lightning fast execution, better leverages that enhances US clients trading experience and give them more opportunity to fulfil their financial goals.
5. Valuable Promotions : The best offshore Forex brokers offer valuable promotions (bonuses, Free deposits, free VPS, free analytical tools) that US citizens might not otherwise get with US brokers. This is because they are registered in tax heaven and can transfer some portion of tax savings to US traders.
6. No Limitations : With best offshore Forex brokers there are no limitations whatsoever which means that US clients can take up any trade that appeals to them and use any technique or strategy that they think fit to be successful in Forex trading.
Top 3 offshore Forex brokers accepting US Clients in 2022.
1. LQDFX (Lightning fast execution, Leverage — 1:500)
2. LMFX (Leverage — 1:1000, withdrawal within 2 hours)
3. EagleFX (33 Cryptos for trading, 24/7 trading)
LQDFX LMFX EagleFX Foundation Year 2015 2015 2019 Trading Model Market Market Market Execution Type ECN/STP STP ECN/STP Spread 0.1 pips (Variable) 0.2 pips (Fixed + Variable) 0.2 pips Variable ECN Commission on FX $2.5 per lot $4 per lot $6 per lot Max. Leverage 1:500 1:1000 1:500 Order Execution Speed 200 ms 300 ms 250 ms Min. Trade Size 0.01 lot 0.01 lot 0.01 lot Max. Trade Size No Limit on VIP Account 100 lots 1000 lots Max. Number of Open Trades 300 trades 200 trades No Limit Margin Call/Stop out % 50/20 30/15 100/70 Swaps (Short/Long) -0.1/-4.5 -0.17/-0.36 0.1/-3.47 Requotes No No No Negative Balance Protection Yes Yes Yes Min. Deposit $20 $50 $10 Base/Account Currencies USD, EUR USD, EUR USD, EUR, GBP, BITs Deposit/Withdrawal Fees No No No Accept Crypto Deposits Yes Yes Yes Withdrawal time 24 hours 2 hours 1 hour Currencies 71 pairs 46 pairs 52 pairs Indices 11 9 10 Commodities 4 5 5 Metal & Energies 6 7 6 Stock CFDs 0 15 73 Cryptocurrencies 0 0 38 24/7 Crypto Trading No No Yes Trading Platform MT4, Web, Mobile MT4, Web, Mobile MT4, Web, Mobile PAMM/MAM PAMM No No Promotions 100% deposit bonus 100% & 15% bonus No EA/Robot Trading Allowed Allowed Allowed Scalping Allowed Allowed Allowed Hedging Allowed Allowed Allowed News Trading Allowed Allowed Allowed FIFO Rule No No No Islamic Account (Swap free) Yes No No Live Chat 24/5 24/5 24/7 Language Support English, French, Italian, Russian, Arabic English, Spanish, Portuguese, Japanese English Trading Accounts 5 Account Types 3 Account Types 1 Account Type Education Material Yes No No Free Chart Analysis Yes No No Economic Calendar Yes Yes No KYC documents Required Required Not Required Personal Account Manager Yes Yes No Ideal for Scalper, EA & High Volume trading Scalper, EA & High Volume trading 24/7 Crypto trading.
#1. LQDFX Review — Best offshore Forex broker accepting US clients for day trading.
Foundation Year: 2015.
Max. Leverage: 1:500.
Spread: 0.1 pips (Variable)
Min. deposit: $20.
Min. Trade Size: 0.01 lot.
Max. Trade Size: 40 lots.
Margin/Stop out: 50/20.
Requotes: No.
Promotions: 100% deposit bonus.
EA/Robots: ✔ Yes.
Scalping: ✔ Yes.
Deposit Methods: Bank Wire, Visa, Mastercard, Skrill, Neteller, Fasapay, VLoad, Bitcoin, Ethereum, Litecoin, Ripple.
Trading Model: ECN/STP.
Currencies: 71 Pairs.
Indices: 11.
Commodities: 4.
Metal & Energies: 6.
Stock CFDs: No.
Cryptocurrencies: No.
Trading Platforms: MT4, Web, Mobile.
PAMM/MAM: ✔ Yes.
Live Chat Support: ✔ Yes (24/5)
Accounts: Micro, Gold, ECN, VIP, Islamic.
Withdrawal Methods: Bank Wire, Visa, Mastercard, Skrill, Neteller, Fasapay, VLoad, Bitcoin, Ethereum, Litecoin, Ripple.
Regardless of the fact if you are a beginner in Forex trading or have been doing it for years, a trustworthy offshore Forex broker accepting US clients is something you are definitely interested on your side.
However, the question is: what makes a perfect offshore Forex broker?
In this LQDFX review, we will go over every aspect of LQDFX in detail that US traders looks for in a best offshore Forex broker accepting US clients.