Traders looking for higher leverage, flexible conditions, and access to a wider range of markets will often look to offshore brokers. That being said, the biggest concern that most of us have would be the level of safety and transparency, as well as trading conditions such as spreads and commissions, as they can vary.
Sometimes it’s hard to find that middle ground. That’s why I went over the brokers we have reviewed and compiled the list of those that both provide decent client protection and offer favorable trading conditions you can benefit from.
| Broker | Ranking | Max Leverage | Asset Classes | Fees Score | Foundation Year | Min Deposit | Meta Trader | cTrader | Trading View | Trading Desk Type |
|---|---|---|---|---|---|---|---|---|---|---|
FxPro | 4.3 Read Review | 1:30 (FCA), 1:10000 (FSA), 1:200 (SCB), 1:30 (CySEC) | Forex (75), Commodities (40), Stocks (1862), Crypto (37), Indices (30), ETFs (46) | 3.0 | 1999 | $0 | No dealing desk | |||
Moneta Markets | 4.6 Read Review | 1:500 (FSA), 1:1000 (CMA UAE), 1:500 (FSCA), 1:30 (FCA) | Forex (66), Commodities (23), Stocks (800), Crypto (59), Indices (33), ETFs (57), Bonds (7), Futures (18) | 4.7 | 2019 | $50 | STP, ECN | |||
Errante | 4.2 Read Review | 1:30 (CySEC), 1:1000 (FSA) | Forex (46), Commodities (15), Stocks (59), Crypto (32), Indices (15) | 3.6 | 2016 | $50 | No dealing desk | |||
FXTM | 4.0 Read Review | 1:2000 (CMA), 1:3000 (FSCM) | Forex (47), Commodities (16), Stocks (500), Crypto (20), Indices (19) | 2.7 | 2011 | $30 | No dealing desk |
Our team of experts has identified brokers’ strengths and weaknesses using FXEmpire’s comprehensive methodology.
FxPro is a huge global Forex and CFD broker regulated by the SCB in the Bahamas and the FSA in the Seychelles. FxPro has over 2,100 assets available for trading, allowing traders to react to global price movements in various ways. This allows professionals to take advantage of opportunities around the world. FxPro also offers multiple types of accounts, as well as multiple trading platforms. Simply put, FxPro is a great “all-around broker.”
Key Features:
FxPro has three different accounts available, including Standard, Raw+, and Elite. The Raw+ and Elite accounts have variable spreads, with a commission charge of $3.50 per side, per lot. Elite accounts offer rebates up to $1.50 per lot, with enough volume.
FxPro offers a web-based proprietary platform, MT4, MT5, cTrader, and TradingView. I used MT5 for this test, and had no problems with functionality or speed. I tested the Raw+ account and found the spreads for EUR/USD to be right around 0.8 pips.
FxPro also offers Virtual Private Servers (VPS) to run automated strategies 24 hours a day without interruption. I also found the educational content excellent, covering a large amount of information.
Moneta Markets is a broker formed in 2019. Its main office is situated in Dubai, but Moneta also operates globally through its Seychelles entity. I found the spreads at Moneta to be a big benefit, and it is something that stood out. Moneta also has a large selection of assets to trade, thereby making it a strong choice for multi-asset traders and short-term traders looking for low costs. The other main attraction is that client funds are held in a segregated account.
Key Features:
Moneta offers over 1,000 assets and massive benefits beyond the low spreads. There are over 45 forex pairs with low spreads and no commissions. Beyond that, the Dow Jones 30 has a tighter than typical 1.0 pips, below the industry average.
Moneta has several platforms, including MT4, MT5, PROTrader, and CopyTrader. For my tests, I used the MT5 platform, as I am so familiar with it. During my trial of Moneta, the executions were fast, and I found this to be the case across all asset classes.
Errante is a CFD broker that started in 2019, based and regulated in the Seychelles. What I liked the most is that Errante is backed by Zurich Insurance Group, an A+ rated insurer, covering traders from wrongful acts up to €1,000,000.
The enhanced educational material was a nice bonus for those who are newer to trading, and the order execution was excellent.
Key Features:
For my test of Errante, I used the MT5 platform. I also used the Standard account for my research. The list of assets was wide and varied, especially currency pairs, which are more than 50. The average spread in EUR/USD was 1.0 pips, which is in line with industry averages.
Errante has several account types, including Standard, Premium, VIP, and Tailor Made. Errante also offers copy trading for those who would prefer it. However, this is something I didn’t choose to do.
The algorithmic trading portion of trading is a natural fit, as the MetaTrader ecosystem is designed to host Expert Advisors, and automation is easy. There are massive numbers of EAs available, and a programming language for those who want to create their own. The execution speed was sufficient for the algorithm that I used, and I had no issues whatsoever.
Mauritius-based FXTM is regulated by the FSC. Established in 2011, FXTM offers more than 1,200 markets to its clients. FXTM makes sure that all client funds are segregated across all its entities.
There is an education section, as well as analysis. However, the low spreads and fast execution are the part that stands out the most. FXTM even has a dividends calendar to help with stock trading, and offers a demo account to practice system development as well.
Key Features:
FXTM offers 4 account types, including Advantage, Advantage Plus, Advantage Stocks, and Micro. The broker has forex, commodities, stocks, indices, cryptocurrencies, futures (CFDs), ETFs, and cross assets like Brent vs Crude and Dow Jones 30 vs Gold. This allows traders to play the difference between two markets, such as a commodity and an index.
I tested the Advantage account, using the MT5 platform. It has low spreads and allows up to 1:3000 leverage. The spread on some major currency pairs can be as low as 0.0 pips, which I saw EUR/USD reach more than once. Commissions are the standard $3.50 per side, per lot.
The forex and CFD analysts and editors at FXEmpire bring together seasoned trading professionals and experienced financial journalists. Many of our experts have been featured in leading publications such as Investopedia and Forbes, and all of them combine strong industry credentials with hands-on trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
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