Individuals go into Forex trading to fulfill their financial goals. In other to do this, there are things that need to be put in place to ensure a successful trading experience which includes better or higher leverages, tight spreads, fast and quality executions. These are what offshore brokers offer you to enable you to have a smooth trading experience. If you are looking to use your credit card for Forex trading with a US Forex broker then you should know that the NFA has banned the use of credit cards to fund your Forex accounts.

The majority of the US Forex brokers have their deposits in form of credit cards and this rule actually affected brokers with smaller size deposits. If you have plans to use your credit cards for deposits in your Forex trading account, then it is advisable to start turning to do business with offshore brokers instead. A hedge can be defined as coming up with a way to protect yourself against big loss i.

Offshore brokers are not bound by FIFO rules which make traders who select offshore brokers not be restricted against hedging. Unlike US brokers, offshore brokers provide you with plenty of bonuses and incentives to help encourage you to trade more. Below we are going to discuss the bonuses the three offshore brokers mentioned above offer their traders. LMFX might not be regulated but they are highly reliable and they provide you with a spread from 0 pips, a minimum initial deposit of 50 USD for a premium account, Scalping is allowed, EA allowed, VLoad accepted, no requotes, Leverage up to LMFX offers three bonuses to their clients and they include:.

The phone validation bonus is available to all clients who validate their mobile phones through the LMFX system, deposit funds in the accounts they open, and trade three standard lots. Once a client meets this requirement the phone bonus is made available and can be freely traded or even withdrawn.

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The bonus will be placed in your account once you make the next deposit, which helps you to get back to the previous level of trading. The Phoenix funds are made available to you on the site or for withdrawal as you deem fit. The bonus also applies to existing customers who already registered but have not deposited yet.

Hugosway might not be regulated but they are highly reliable and they provide you with a spread from 0. Currently, Hugosway does not provide any form of bonus or incentives as seen on their official website but then they could offer their clients bonuses and incentives at a later time. In fact, many us traders are trading with the offshore brokers for the flexibility of trading: i. It depends entirely on the brokerage. Many brokers are operating their service over the years with a reputation.

So traders get trading freedom there. Conclusively, offshore brokers are available to give you the best trading experience and also ensure you make a profit which is your end goal. Offshore brokers range from regulated offshore brokers to unregulated ones.

Another thing to note is that while reading reviews from other traders seeing one or two bad reviews does not make the Broker a bad one whether they are regulated or not as it is normal for traders to experience some difficulties sometimes which might even be their own fault but they had rather blame the Broker for their mistakes. Once good reviews outweigh the bad ones it means the offshore broker is a reputable one and your money is safe with them whether regulated or not. We have reviewed three offshore brokers here both regulated and unregulated but whose reputation speaks volumes just to help you streamline the best in making your choice.

However, you would still have to take into consideration their pros and cons as discussed above to be able to select the one that suits your trading style or that guarantees the profit you envisage in earning. Fxchoice Review Hugosway Review Contact Us FAQ. Take a Free Trial. Check Now. Risk Disclaimer: Trading in forex, CFD, indices and commodities involves the possibility of financial loss. It may not be suitable for all investors. Only trade with money you can afford to lose.

As a leveraged product losses may exceed initial deposits and loss exposure. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. The content on this website is subject to change at any time without notice, and must not be construed as personal advice. What is the best jurisdiction for obtaining a forex license? Where to register it? We will provide you with a list of five categories of forex licenses in jurisdictions, from the most expensive and respectable, to the most affordable and fastest to receive.

The criteria for the cost of a license, the complexity of obtaining a license and jurisdiction are determined. Also, consideration was given to the need for presence, availability of staff, reporting requirements, and the reputation of the jurisdiction.

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Before making a choice, you need to put questions that a wise forex broker should ask before establishing a company. Most clients work with online brokers. The implementation of activities without a license in some countries can lead to fines, and even to the closure of business. Having answered the answers to the questions posed above, we will be able to help you to make choice of the jurisdiction.

Many countries have enacted regulations, governmental and private organizations, in order to help protect the public from fraud in the Forex industry. These jurisdictions we call the jurisdictions of the first level of forex brokers. The United States and Japan fell into this category. Very stringent reporting requirements are present, as well as the large impact of customer complaints to regulators, which can lead to a strong reaction from regulators. Jurisdictions have less stringent reporting requirements and lower requirements for running the enterprise.

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These countries have regulators that offer a good level of protection to Forex broker clients. A local office is required. Low level of reporting and taxes. The cost and time for obtaining a license is about the same as in the second-level jurisdictions. When registering in these countries and working with clients from the EU, opening a bank account with European banks is much easier than in some of the jurisdictions below. These countries have such licensing requirements for obtaining a license to show potential customers a sufficient level of comfort and reliability of the companies.

The speed of registration is a big advantage. The process of incorporation of the company takes only a few days, the licensing process takes from one month for Vanuatu or Cape Verde, and from 3 to 4 months in Belize and BVI on average, after providing all the necessary documentation. This amount is not blocked; You have full access to money.

The huge advantage is that once you have a license even on BVI or Belize, it is much easier to open an account for a corporate bank account for your Forex broker. We know only a few banks that can open a corporate account of a forex company without a license.

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