Latest List Of Offshore Forex Brokers Accepting US Citizens & Reasons Why

offshore fx brokers, for us citizens image

Estimated Reading Time: 27 minutes

Are You Americans Aware Of The Fact That Your Forex Trading is Extremely Restricted?

Time To Open Your Eyes & Escape the CFTC & NFA, Check The List Of Best Forex Offshore Brokers For US Clients 2019!!

We cover the following subjects in this special guide;

  • New Opportunities For US Citizens
  • Why Do US Citizens Need Offshore Brokers? What are Constraints?
  • Why do Many Offshore Forex Brokers Decline US citizens to Open Account?
  • Reasons Why Some Offshore Brokers Can Still Accept US Citizens
  • The List Of Outside US Brokers Accepting US Residents
  • Dodd-Frank Act Repeal – Latest Status / Forecasting (This is very important, So Don’t Overlook This Last Section)

The “Show” box underneath can show you Full Contents for your more convenience.

New Opportunities For US Citizens

Before going into the offshore best Forex brokers accepting US Citizens, allow me to quickly talk about our vision. We provide various guides & instructions enabling ordinary people to make extra money consistently based on the 2 underlying methods of … 

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3 Passive Tradingpassive trading, feature image of 6 Advantage Playsadvantage play, full list.  As our name GEM – Global Extra Money implies, we would like all our readers from all over the world to explore & exploit profit making opportunities. You have come here to search offshore brokers accepting us clients because you are already a Forex trader in the USA (needless to say Forex Trading in US is legal) or interested in Forex trading. But it doesn’t mean you rule out any other means to earn real cash seriously, which must be your final objective. From this perspective, strongly suggest you take a look at:Although it says sports betting, we don’t gamble but pursue advantage plays that make the best use of mathematical edge to beat the bookies legitimately without risk. In this document, you will find the specific methods that enable people from almost all countries to exploit the lucrative offshore advantage gambling opportunities you have never considered. I have to stress that the above Bitcoin Betting will pave the way for ALL US CITIZENS to make thousands of extra income risk-free, Very useful, worth your time to check.

Flash News

For US Citizens, long-awaited sports betting legalization just started. On 14 May 2018, the Supreme Court struck down PASPA (Professional and Amateur Sports Protection Act in 1992) which opens the door to legalizing the estimated $150 billion in illegal wagers on professional and amateur sports that Americans make every year. It’s time for you to seriously consider the reliable money making methods we share in the above documents. Watch the below CBSN news; Since you are looking for offshore FX brokers / offshore forex account to free from restricted US trading circumstances, you already have good open mind. Hope you use this opportunity to open your eyes to the new category as well.

Now, let’s get down to the “Offshore Forex Brokers that Accept US Clients” business;

Why Do US Citizens Need Offshore Brokers? What are Constraints?

Forex brokers in the US are regulated by the National Futures Association (NFA) and the Commodities and Futures Trading Commission (CFTC) that publishes Commitments of Traders (COT) Reports every Friday, around 2:30 pm EST. The regulatory framework set out by these two bodies is often found too strict for free trading, means the forex brokers regulated by NFA & CFTC are not necessarily the best forex brokers for many forex traders. A few examples of rules US Forex Brokers must follow are;

Limited Leverage

The CFTC released the new trading rules regarding the use of leverage and margin by clients in 2010, setting out a leverage requirement of 1:50 for individual forex traders and 1:20 for options traders, while at least 1:100 is absolute global standard, means the US traders have limited power to earn in comparison to other players.

No Hedge & FIFO

US Forex Brokers LimitsWith the new NFA rules, US brokers no longer allow hedge and they need to implement FIFO (First In First Out). Hedging is simply coming up with a way to protect yourself against big loss namely a trader that is long a foreign currency pair, can protect oneself from downside risk; while the trader that is short a foreign currency pair, can protect against upside risk. However, the NFA’s FIFO rule specifies 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. This FIFO has never become common outside US.

OFAC Restrictions

The Office of Foreign Assets and Control (OFAC) has placed limitations on who US forex brokers can accept into their network. Nationals of countries on the OFAC blacklist are not permitted to open forex trading accounts with US forex brokers. Those from affected countries who already operated accounts with US forex brokers had their accounts shut down as a result. US forex brokers therefore have to operate within pretty stringent guidelines and so they tend to restrict their business to a certain class of traders.

No Longer Credit Card

The NFA announced in June ’14 that its board has approved banning the use of credit cards for funding Forex accounts. The law is pending approval from the CFTC. However, as the NFA is assigned by the CFTC to supervise the futures and Forex industry, once a measure is formalized by the NFA, rarely does the CFTC make many amendments in rulings. The news follows a greater than year long enquiry into credit card deposits that began in January of 2013. At the time, the impending ban was viewed as possibly being a huge blow to US Forex firms, who depending on the firm are estimated to have between 3% to 35% of their deposits in the form of credit cards. Specifically brokers with smaller size deposits were expected to be especially affected by the ban. The fact is NFA already made it Effective 31 January 2015. BTW, Freedom in the World 2019 reported US as a Free Country as shown in the below map; freedom in the world map USA Are US citizens really free? As long as concerning Forex Broker regulations, US citizens are not like that free, so you have many reasons for Not Using US Forex Brokers but Using Brokers with Better Trading Conditions, More Freedom, and More Convenience which are available with Offshore Brokers. So, can US citizens trade forex overseas?

Why do Many Offshore Forex Brokers Decline US citizens to Open Account?

Unfortunately, a good number of regulated international Forex brokers operating offshore do not accept US residents to open account with them. There are strict regulations that limits doing business with US citizens originated by the US government. Below is the primary reason why almost all offshore international Forex brokers do not accept US citizens now.

Dodd-Frank Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a federal statute which president Obama signed into law. It first became operational on July 21, 2010. The act brought forth new rules that are designed to regulate all financial markets including stocks, futures, Dod Frank Act Imageoptions and Forex. Dodd-Frank Act requires that Forex brokerage company who wants to do business with US citizens must first be registered with Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA). Many international Forex brokers find this very difficult and costly operation with more reporting requirements as shown by HBR report. Many of them are still not registered with these two bodies. These are mostly legitimate and regulated offshore brokers. To avoid the paper mess, they stop accepting US citizen to open account with them. 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 international offshore Forex brokers to decline US citizens. As a result US citizens desiring to trade in Forex are forced to open US Forex accounts, and trade with very low leverage (50:1) as said before so that you often have no choice but to deposit a lot of money in your account if you want to trade safely and get anywhere financially without getting a margin call that would normally wipe out a small deposit depending on the lot size of your choice. So in essence the Dodd-Frank Act indirectly, even if unintentionally, makes it harder for the poor in America to trade Forex, but it is not a problem for those who are already rich and have enough extra income they can afford to use in a US Forex account. Dod-Frank Act Make Foreign FX Brokers Reject US Citizens

Reasons Why Some Offshore Brokers Can Still Accept US Citizens

Despite the regulation, for a US citizen, there are chances you can open an account with international brokers not registered by US regulatory bodies – NFA and CFTC. However, this is done under certain different conditions. Such offshore brokers are allowed to accept US clients only under their US based affiliate brokerage firms. Let me quote the discussion from the forum as “The CFTC has U.S. forex brokers by the throat: by threatening their ability to do business in the U.S., the CFTC can interfere with the rights of those brokers to do business outside the U.S. and the CFTC has his tentacles deep inside many foreign governments, through a series of nasty, little agreements known as Memoranda of Understanding. These agreements have effectively extended U.S. regulation to cover U.S. residents doing business in countries which have signed the agreements. Offshore Forex Brokers Yet Accept US CitizensThere are yet the countries where these agreements do not exist. And there are a few offshore brokers, in Memorandum countries, who have the courage to defy the over-reaching U.S. regulatory authorities, and welcome U.S. residents as clients, and to consider client relationships with them.  And under the current law, the CFTC has no authority over individual traders who trade through foreign brokers that are beyond the reach of U.S regulation. The U.S. government claims the authority, through the IRS, to require U.S. residents to report foreign accounts which people hold, bank accounts, brokerage accounts, etc, which has been automatically reported under FATCA (Foreign Account Tax Compliance Act) started in July ’14. But, they cannot yet prevent US citizens from having those accounts.”  From another perspective, the non-US Forex brokers who are affected by the Dodd-Frank act are those that are regulated in their own countries. Means, the brokers in the countries where Forex itself is not regulated such as Finland can accept US citizens without being bothered by Dodd-Frank act (remember the Act affects the brokerage but not you as an individual, as long as you report what is required to IRS, you are not subject to be punished).

The List Of Outside US Brokers Accepting US Residents

Having explained, fortunately, US strict regulations do not completely stop international brokers from accepting US citizens. There are certain offshore international Forex brokers that accept US citizens. This data source is forum though we simplified the original information while adding our own assessment & our members’ feedback when we feel value for our readers.


  • The list does include not only Regulated Brokers but also Non-Regulated Brokers which you may want to put low priority or make full due diligence.
  • Broker Type Abbreviation

1) ECN: Electronic Communication Network 2) STP: Straight Through Processing 3) NDD: Non Dealing Desk 4) DD: Dealing Desk 5) MM: Market Maker 1), 2) & 3) allow you to trade directly with market (means major banks etc) without middleman (the broker’s dealing desk) while 4) & 5) is via (or controlled) by the middleman. Some brokers are hybrid such as DD/STP, means they have both system. In short, you may want to select 1),2) & 3) rather than 4) & 5), for the detail rationale, please check Select Trusted Forex Brokers With No Hidden AgendaForex Trusted Broker Future Image

There are a few brokers I marked “Reportedly Trusted” which are in line with the original list and according to Babypip forum, the Trusted brokers are described as “the Trusted Broker designation was determined by a consensus of thread participants — primarily participants who trade live accounts with the broker being vetted. Each Trusted Broker was judged to be exemplary based on these criteria:

  • (1) honesty and transparency in advertising their services, and in handling the funds and executing the trades of their clients
  • (2) compliance with the laws and regulations of the country in which they are domiciled” (so, currently they are considered as the best forex bokers for US clients outside the US soil)

Besides, we also added “Trusted” mark in blue, this comes from our own 4,200+ members’ feedback (possibly a bit biased though), just for your information. 

Offshore Forex Brokers List

UK / Europe

  • LMFX (Macedonia) Reportedly Trusted & Trusted — ECN/STP broker, not regulated, Spread from 0 Pips, No Requotes, Scalping Allowed, EA Allowed, Leverage up to 1:1000, / Website
LMFX Current Bonus Details

” We are delighted to present you our generous bonus programs which, we believe, will cover your trading needs. Currently, we offer 3 types of bonuses to our clients:

  • A 20$ Phone validation bonus;
  • A 100% deposit match bonus;
  • And a Phoenix Recovery bonus.

The Phone validation bonus is available to everyone who validates their mobile phone through our system, deposits funds in their account and trades 3 standard lots. Once the requirements are met, the bonus becomes available, can be freely traded or even withdrawn at the client’s discretion.

Our Deposit Match bonus provides a 100% credit bonus, which acts as an account leverage that you can use when trading. The bonus is available after a minimum deposit of 100$ and once the required amount of trading volume has been met, the funds are deposited into your account and can be used as you see fit with no restrictions or limitations.

A registration with the Phoenix Program grants a 15% Recovery bonus in the event that you lose your initial deposit. The bonus will be placed in your account on the next deposit, which will help you get back to the previous levels of trading. The phoenix funds will be available to you for use in the site or for withdrawal should you need them.

Please do get in touch with us if you need any other type of assistance with our services.
Sincerely yours,


  • Renesource Capital (Latvia)— ECN/STP broker, regulated by Latvia Financial and Capital Markets Commission (FCMC) / Website (We just confirmed that all customers planning to deposit more than 3’000 EUR to trading account per month, they need to physically visit their office to go through KYC as a regulatory requirement. So, unless you are able to visit Latvia, don’t deposit over 3,000 EUR / month or don’t open an account.)

Africa / Middle East / Persian Gulf

  • Turnkey Forex (Mauritius) Reportedly Trusted — ECN/STP broker, not regulated, Spread from 0.2 Pips, Leverage up to 1:200, Zulu Trade platform available, Bitcoin accepted  / Website
Turnkey Forex Current Bonus Details

” Greetings from Turnkey Forex.

We would like to introduce you to the best trading experience and services for the Forex market here at Turnkey Forex.

We strive to provide the best to our clients:
We are offering a 100% Deposit Bonus promotion for all our ECN accounts.

You may request and avail the 100% deposit bonus after you fund your Live ECN account with us.
Terms and Conditions for 100% Deposit Bonus:

  • Bonus only increases leverage on the trading account
  • The Bonus can be availed up to a maximum amount of $20,000
  • The Bonus can be used on multiple deposit entries up to a total deposit of $20K.
  • The Bonus can only be availed up to maximum leverage of 200:1 on the account
  • The bonus cannot be lost or used to take a margin call
  • The bonus needs to be requested from the Dashboard after funds deposit to the account
  • The minimum deposit to avail the bonus promotion is $200
  • We charge only $2 Per $100K Round Turn Commission on the ECN account.
  • The bonus can only be withdrawn after meeting the minimum trading requirements on the account

We Accept Bitcoin and Ethereum only for deposits and withdrawals.

We also offer to reimburse for the:
-Bitcoin Transaction (Purchase Cost from any exchange) for a minimum deposit of $200

You may reply back for any further query.

Have a good time ahead.


Team Turnkey Forex “Turnkey Forex

Central America / Caribbean

  •  FX Choice (Belize) Reportedly Trusted — NDD/STP broker, regulated by International Financial Services Commission  (IFSC) Belize, Bitcoin accepted / Website
FX Choice Current Special Bonus Details
Register Now and receive 20% Special Bonus on The 1st Deposit Up To 5,000 USD (see Bonus T&C for details). Don’t Miss This Opportunity. Remember The 20% Bonus Can Also Apply To The Existing Customers Who Already Registered But Not Deposited Yet!!FX Choice
Trader's Way Current Bonus Details

Try The Best MT4 ECN and MT5 ECN from $10 ONLY!
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100% Deposit Bonus
Trader’s Way widens your trading opportunities providing you with a 100% bonus on your deposit. You only need to make a deposit, choose the bonus amount and it will be credited to your trading account. The bonus is cashed to your account on a daily trading volume basis.

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  • We Have delisted both Coinexx & Real Trade which made us believe that they are dishonest & manipulative based on our members’ input as well as our own experiences, so suggest keep away from them in the meantime. 

Pacific / Asia

  • LQDFX (The Marshall Islands) Trusted — ECN/STP broker, not regulated, Spread from 0 Pips, No Requotes, Scalping Allowed, EA Allowed, Leverage up to 1:500, Extremely Quick Order Execution, Bitcoin accepted / Website

Regulation Inquiry

I picked Tallinex (St. Vincent and the Grenadines) & TradeWise FX (I quoted Tallinex’s answer to check if they have common understandings) as examples and sent an inquiry about Regulation, then the answers I received are (Note; both of these brokers no longer accepts US Citizens, thus these info are already history, but just FYI);


Tallinex Limited is licensed to operate as an IBC under St Vincent and the Grenadines law. Spot Forex exchange transactions are not considered financial instruments by the St Vincent and the Grenadines Financial Services Authority (FSA) regardless of their purpose i.e. commercial or otherwise. This determination means that St Vincent and the Grenadines does not categorise spot Forex as a securities product and, therefore, the retail spot Forex business carried out by Tallinex Limited does not fall under securities regulation in St VIncent and Grenadines, and requires no additional licensing.Tallinex E-Mail Response

TradeWise FX

You are right about how SVG considers brokers. We have stated that we are registered with them but not regulated.TradeWise E-Mail Response

Just For Your Information.

As said, this list is based on the info as of Sept 2019 and we screened the list in our own criteria mainly based on our members’ honest input. Surely the list would be constantly updates thus changeable, and most importantly, it’s essential to make minimum Due Diligence before you open an account in any of the above brokers, especially for Not Regulated ones, because as North American Securities Administrators Association (NASAA) warned that there are still a lot of Forex Fraud. 

Dodd-Frank Act Repeal – Latest Status / Forecasting

Lastly, let me update the regulatory movement. Donald Trump & Republicans are eager to deregulate the financial sector. offshore fx brokers, trump repeal act

What happens when US authorities repeal Dodd-Frank?

What does it mean? Let me share the summary as follows;

During his campaigns, then candidate Trump repeatedly called Dodd-Frank ‘a disaster’ to the American financial sector. He proposed to repeal Dodd-Frank either to limit its reach or to eliminate it. There already is a legislation being debated in the US Senate called the Financial Choice Act, but it is unlikely to pass as is. Nevertheless, Trump’s transition team may still consider passing bits of the new law that may repeal Dodd-Frank, if only to a small degree. These updates have perked brokers’ ears, and many of them are considering a return to the US FX market. In fact, they may not even have to set up headquarters within the US, but may probably be allowed to sign up US clients once again. The specific date to repeal Dodd-Frank is not known, nor is the road going to be easy, but it may soon come to pass in which case the Forex industry may experience a major shift. forex news now

Harsh Reality – Latest News, Current Status & Future Prediction

NBC News reported “Congress just approved a bill to dismantle parts of the Dodd-Frank banking rule” and actually Trump signed the bill. However, what are the real affect on Forex Industry & Forex Brokers? Brookings issued the interesting article titled “No, Dodd-Frank was neither repealed nor gutted. Here’s what really happened“, which points out several misconceptions of the repeal. The Balance’s article of “Dodd-Frank Wall Street Reform Act 8 Ways a Repeal Hurts You” clearly identifies;

5. Monitors Risky Derivatives.  The Securities and Exchange Commission or the Commodity Futures Trading Commission regulate the most dangerous derivatives. They are traded at a clearinghouse, similar to the stock exchange. That makes the trading function more smoothly. The regulators can also identify excessive risk and bring it to policy-makers’ attention before a major crisis occurs. Most traders appreciate this aspect of Dodd-Frank and don’t want it changed. the Balance
Then, so far, when it comes to the US harsh regulation toward Forex Industry, nothing seems to have changed and no optimistic prediction can be developed.

Only Option

Therefore, if you would seek better trading environments, there are no other choices than considering the above Offshore Forex Brokers we are listing currently. Bear it in mind that there is no assurance they will keep accepting US Citizens. We have seen the reducing number of Forex Brokers accepting US Players over the last several years. In 2010, the number of offshore brokers accepting US clients was over 100, but now it’s merely around 10

After they decided Not to accept US traders, some still allow the US Citizens to keep trading as long as the traders had the active account (means actually deposited & traded before they close the door) while some brokers asked all the US registered traders to leave (but don’t worry you can of course withdraw all your account balance).

So, if you decide to open their account, suggest do at least 1 deposit and trade your real money (not just a demo account), which will largely increase the chance of maintaining your account even after they decide not to accept US citizens. 

In this sector, there are a lot of uncertainties when it comes to the politics & regulation. We need to keep watching it carefully but don’t count on it.

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Posted by Joshua