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    Best Forex Brokers with No ESMA

    Offshore Legal Service Provider EST. 1996

25April

5 Best Forex Brokers with No ESMA

best ESMI brokerage

Since the inception of the European Securities and Markets Authority (ESMA) regulations in 2018, the European watchdog has put out new regulations that have limited the use of various financial instruments in an effort to restrict what might be seen as excess in the trading market. Some of the restrictions were: a ban on binary options, places a 50% margin stop out, and putting a ceiling on leverage for retail traders at 1:30.

While this was done with the right intention, to try and protect traders from going all in and overexposing themselves there has, as a result, been a movement away from Brokers that have EMSA oversight, as there are fewer possibilities to make windfall profits.

ESMA regulations are specifically related to traders in European countries, so forex and CFD offshore brokers who operate outside of Europe do not have ESMA limitations and as a result, are not bound by their regulations and can continue on as before.

In this article, we will speak about 5 different Non-ESMA Broker platforms where you can leverage your heart out.

Table of Contents:

How to Find the Best No ESMA Broker? 

There are a number of important factors to consider when picking your online broker. For starters, it's good to choose a broker with a few years in the industry. This may seem obvious, but with the surge of online platforms in recent years it's pretty easy to make a platform seem legit when it needs to. Over time cracks can appear which would only be recognizable after some time. There is just no reason to start with new brokers.

The second most important point would likely be to ensure they fall under proper financial regulation by an appropriate regulatory agency that can hold them accountable. It is always best to find a provider that has an international presence across various countries as this ensures that they have more than one regulatory body overlooking them. Having more than one regulatory body keeps your money just that much more secure.

The third thing to look at is the quality of execution. Make sure your broker has a stellar reputation in this area and that they have been awarded accolades for their work.

A few other qualities to look for when trying to find the Best Broker are:

  • No hidden fees
  • Low minimums and transfer fees
  • Good customer support
  • Have a diverse selection of products
  • Been in the market for some years
  • Have a good reputation
  • Have a global presence

Best Forex Brokers with No ESMA

  1. IC Markets 

  2. RoboForex 

  3. AxiTrader

  4. XM

  5. Avatrade 

 

IC Markets.jpg

1. IC Markets 

As one of the largest MT4 Forex CFD providers, IC Markets has established its authority in the forex market since 2007. Taking our Number 1 spot, IC Markets knows what it's doing and is a favorite trading platform for both novice and experienced traders alike. By giving one of the lowest spreads on trading from 0.1 pips on forex it makes it one the best in the market. 

IC Markets make use of cutting-edge technology such as Depth of Market (DoM) and ladder trading, together with inbuilt spread monitoring and Meta Trader 4 are additional tools traders can enjoy. As a regulated broker, you can be sure that your money is safe with IC Markets.

 
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IC Markets has a low minimum deposit of 200 USD which allows you to go for a trial run before you really dip into your savings. Trust pilot, a third-party review has over 12,000 reviews at the time of this writing with an average of 4.8 stars.

No matter what your opinion is about the company, they have some pretty outstanding results. You can not spam your way to those types of numbers. IC Markets executes over 500,000 trades per day worth more than $15 billion.

Details 

Headquarters
Australia
Regulation
Cyprus Securities and Exchange Commission (CySEC)
Seychelles Financial Supervisory Authority (FSA)
Australian Securities and Investments Commission (ASIC)
Year Founded
2007
Minimum Deposit
$200
Withdrawal Fee
$0
Maximum Leverage
500:1
Type of Platform
MT4, MT5, cTrader
Products
Forex, CFD, Crypto
Currencies
60+ Currencies & 10+ Cryptos

Roboforex.jpg

2. RoboForex 

With 0% commissions on deposits and withdrawals, it is no wonder RoboForex is one of the best no ESMA forex brokers. Like most of the other brokers, it operates on a variety of trading platforms and is great for people who have do not have access to a desktop and would rather enjoy a mobile-friendly experience. Traders can enjoy fast executions and instant withdrawals with RoboForex which has seamless software that allows you to deposit and withdraw quickly.

You have the ability to open micro accounts if you are looking for a low trading volume of 0.01. RoboForex also offer wide accounts range that attracts both rookies and veterans to looking for high leverage possibilities. As a no ESMA broker, you have more opportunities to increase your leverage and also get a spread starting from 0 pips on forex markets.

Details

Headquarters
Belize
Regulation
International Financial Services Commission (IFSC)
Year Founded
2009
Minimum Deposit
$10
Withdrawal Fee
$0
Maximum Leverage
2000:1
Type of Platform
cTrader, R Trader, Metatrader 4, Metatrader 5
Products
Forex, Crypto, Share, Commodities, Indices, ETFs
Currencies
6 Currencies & Bitcoin

xm broker.jpg

3. AxiTrader

AxiTraders rebranded itself back in 2020 to Axi and is owned by an umbrella company called AxiCorp. Axi has over 40,000 traders in over 100 countries. There are still a number of countries that it does not operate in including the USA, Japan, and New Zealand amongst others. While they don't operate in every country they do have physical offices in five different countries and since its inception in 2007 have won several awards for its services and in particular its security systems.

AxiTrader is great for novice traders and is one of the best No ESMA forex brokers out there. With a plethora of video tutorials, ebooks, and beginner guides, first-timers interested in forex can learn the intricacies of the market with a few clicks.

Additionally, AxiTraders offers a variety of trading and live trading accounts as well as Islamic trading accounts that have over 60,000 accounts. What has made AxiTrade particularly well known is its low spread starting at 0 pips. The brokerage firm embraces trading diversity by using popular trading platforms such as MT4 and MT4 WebTrader. What’s more, it also makes use of advanced trading tools and have more than 60 Forex pairs as well as more than 140 CFDs. While that might not be enough for professional traders, it words well for beginners.

Details

Headquarters
Australia
Regulation
FCA, MIFID-ESMA, ASIC, FMA, DFSA
Seychelles Financial Supervisory Authority (FSA)
Year Founded
2007
Minimum Deposit
No minimum
Withdrawal Fee
$0
Maximum Leverage
1:500
Type of Platform
ZuluTrade, MT4 Dekstop, MT4 Web, MAC  
Products
Forex, Crypto, Commodities, Indices
Currencies
6 different currencies

xm broker.jpg

4. XM

One of the big names in the industry XM has over 3 million customers in over 196 countries around the world and has won over 30 awards for its broker platform. There are very few other platforms that can boast these types of impressive numbers. As a result is has been featured as one of the world's top 100 financial businesses by World Finance 100.

XM is owned by Trading Point Holding and has physical offices in Cyprus, Greece and Australia. There are only a very few countries that do not accept them which are the USA, Canada, Japan, Israel and Iran.

The company provides a great knowledge base for new traders including unlimited video tutorials and daily forex webinars not to mention other perks such as trading signals, technical analysis, and market outlook.

Retail traders can trade in 16 platforms including MT4, MT5, and XM WebTrader. Traders also have access to personal account managers who are instrumental in offering invaluable advice. To improve their customer experience further, they offer bonuses and low spreads. You can't really go wrong if you decide to use one of the biggest brokers out there, because what you get is reliability. They have been in the game for a while and it shows.

Details

Headquarters
Cyprus Greece Australia
Regulation
Cyprus Securities and Exchange Commission (CySEC)
Australian Securities and Investments Commission (ASIC)
International Financial Services Commission of Belize (IFSC)
Year Founded
2009
Minimum Deposit
5 USD
Withdrawal Fee
None
Maximum Leverage
888:1
Type of Platform
16 different platforms
Products
Forex, CFD, Stocks
Currencies
11 different base currencies

avatrade broker.jpg

5. AvaTrade

AvaTrade was founded back in 2006 as AvaFX, later changing its name to AvaTrade is regarded as one of the most regulated brokers in the world. As a non-ESMA broker it has a greater appeal amongst traders allowing greater leveraging at 400:1 instead of the regulated 33:1 ratio.

The company has satellite offices around the world "committed to empowering people to invest and trade, with confidence, in an innovative and reliable environment; supported by best-in-class personal service and uncompromising integrity".

AvaTrade is most likely suited for the novice trader and gives a lot of free trading advice through their learning center. Though suited for beginners, AvaTrade has access to over 1250 financial instruments with a huge range of assets your sure to be able to find what you need. Although there are some confusing aspects of the interface, it provides a solid platform that you are likely to enjoy unless you are a serious expert trader. 

AvaTrade was voted as best in its class in 2021 with over 200,000 traders that conduct over 2 million trades a month. IT holds multiple licenses so you are sure that they are legitimate. As a member of the ICCL they ensure traders for up to 20,000 EUR in case the broker becomes insolvent. Knowing that you have nothing to lose, why not join in!

Details

Headquarters
Ireland
Regulation
ASIC, FSCA, FSA, FFAJ
Year Founded
2006
Minimum Deposit
$100
Withdrawal Fee
None
Maximum Leverage
400:1
Type of Platform
MT 4, MT5 or WebtTrader
Products
Forex, Crypto, CFD, Stocks, EFTs, Options, Commodities
Currencies
60 different currencies

Conclusion

We know finding the right broker can be a tricky business. Hopefully, this guide sorted you out on some of your questions about trying to find the best No ESMA Brokers. In reality, there is no single best, only what is best for you.

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