#1

FxPro

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.5/5

#2

AvaTrade

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.5/5

#3

IC Markets

  • Regulations: ASIC
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.8/5

#4

Admiral Markets

  • Regulations: CySEC, ASIC, EFSA, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.2/5

#5

XM

  • Regulations: ASIC, CySEC, FCA
  • Minimum deposit: $5
  • Platforms: MT4, MT5
  • InvestinGoal rank: 4/5

Top 10 Best Forex Brokers No ESMA 2019

by | Jan 31, 2019

Are you looking for the best Forex Brokers No ESMA because you’d like to understand if there are brokers that can still let you use a higher leverage?

We can help you.

Starting with August 2018, the new ESMA (European Securities and Markets Authority) came into effect.

It was hardly something new for the retail investor, as Forex brokers made sure to communicate the changes well ahead.

However, it opened the question of where to find Forex brokers with no ESMA regulation?

Are there such brokers?

Before anything, traders need to know that the new ESMA rules are meant to protect the trader. Many believe that the SNB (Swiss National Bank) dropping the 1.20 peg on the EURCHF pair in early 2015 sparked the idea.

As it turned out, the unprecedented event almost destroyed the Forex retail business. Some brokers went bust, many retail traders lost much more than the balance in their trading account, and the only solution was for brokers to cover the negative balances.

Healing took time, and authorities stepped in. Under the new ESMA rules, for instance, brokers offer negative balance protection. In plain English, the trader can’t lose more than the trading account’s balance. Not bad!

Leverage is limited too. Up to 1:30 in most cases, and higher only if the retail trader falls into the category of “professional retail traders”. Judging by the conditions needed to fit into this category, probably professional retail traders are somewhere in the lower single digits of all active traders.

In any case, the limitations aren’t bad for the trader. Aimed at protecting the trading account, they help in the money management process.

However, the drawdown is that traders subject to ESMA regulation can’t make the most of their deposited funds. While the risk is lower, so is the potential return.

In the end, it is up to everyone to decide if the new ESMA regulations affect the trading results positively or negatively. Our job here is to show what brokers to look after when needed to avoid ESMA regulations.

Keep in mind though, that they are subject to ESMA.

The only difference is that they manage to open the users accounts in non-European locations, thus applying the regulation from the place the account is open.

(This post is part of the best forex brokers series)

best forex brokers no esma

Top 10 of Best Forex Brokers No ESMA of 2019

Here’s our ranking:

Zulutrade
eToro
Naga Trader

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • IG rank: 4.5/5

1. FxPro

FxPro is one of the largest Forex brokers. ESMA didn’t come as a surprise, as they adapted swiftly and are commited to responsible investing. FxPro offers four trading platforms (mt4, mt5, cTrader, and Edge), along with 24/5 multilingual support for its customers.

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Type: No Dealing Desk
  • Leverage: between 1:10 and 1:500 (professional retail traders only
  • Minimum Deposit: $500
  • Headquarter: United Kingdom
  • US Customers: No
  • Other instruments: CFD’s, indices, ETF’s, stocks, cryptocurrencies, and commodities
Try FXPRO with a demo account
(89% of traders lose money in CFD trading)

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.5/5


(CFD Service. 78% lose money)

2. AvaTrade

With over eleven years experience in online trading, AvaTrade offers access to more than 250 instruments to trade. It fits the category of a Forex broker without ESMA and judging by its popularity among retail Forex traders, AvaTrade has all the chances to be one of the most relevant players in the future online trading market.

  • Regulations: MiFID compliant, ASIC, FSC, FSA, FSB
  • Type: Market Maker
  • Leverage: up to 1:400
  • Minimum Deposit: $100
  • Headquarter: Ireland
  • US Customers: No
  • Other instruments: vanilla options, indices, CFD’s, most relevant cryptocurrencies, commodities
Try AVA TRADE with a demo account
(71% of traders lose money in CFD trading)

  • Regulations: ASIC
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.8/5

3. IC Markets

With a mission to provide traders the lowest spreads possible, IC MARKETS is one of the Forex brokers not affected by ESMA. With superior technology like DOM (Depth Of Market) and ladder trading, this Australian broker has an unrivaled customer service seven days a week. Regulated by the ASIC and offering three trading platforms, IC MARKETS is one of the preferred choices among retail traders in Australia and not only.

  • Regulations: ASIC
  • Type: No Dealing Desk, ECN
  • Leverage: up to 1:500
  • Minimum Deposit: $200
  • Headquarter: Australia
  • US Customers: No
  • Other instruments: CFD’s, stocks, commodities, indices, ETF’s
Try IC MARKETS with a demo account
(CFD Service. 74-89% lose money)

  • Regulations: CySEC, ASIC, EFSA, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.2/5


(CFD Service. 83% lose money)

4. Admiral Markets

With a global presence and flexible trading accounts, ADMIRAL MARKETS evolved in time in one of the most trusted brokers in the industry. Regulated all over the world and MiFID II compliant, this is one of the non ESMA Forex brokers to consider when opening a trading account.

  • Regulations: CySEC, ASIC, EFSA, FCA
  • Type: No Dealing Desk
  • Leverage: from 1:30 to 1:500, depending on the asset and type of trader
  • Minimum Deposit: $200
  • Headquarter: Estonia, U.K.
  • US Customers: No
  • Other instruments: CFD’s, ETF’s, shares, cryptocurrencies, commodities
Try ADMIRAL MARKET with a demo account
(83% of traders lose money in CFD trading)

  • Regulations: ASIC, CySEC, FCA
  • Minimum deposit: $5
  • Platforms: MT4, MT5
  • InvestinGoal rank: 4/5

5. XM

A U.K. regulated broker offering unlimited video tutorials to educate its traders, XM also has activities all over Europe and Australia. One of the giant houses in the industry, XM is a market maker known for its fair conditions offered to traders and vast experience in an ever-changing industry like online trading.

  • Regulations: ASIC, CySEC, FCA
  • Type: Market Maker
  • Leverage: up to 1:500, depending on the trader type and jurisdiction
  • Minimum Deposit: $5
  • Headquarter: United Kingdom
  • US Customers: No
  • Other instruments: CFDs, shares, metals, energies, futures, indices
Try XM with a demo account
(69.39% of traders lose money in CFD trading)

  • Regulations: FCA
  • Minimum deposit: $5
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4/5

6. OctaFX

Currently offering a 50% bonus on deposit, OCTAFX broker also compensates the account balance to zero, meaning it offers protection against negative balance. It shows trust from a reputed brokerage house and traders from all over the world enjoy the low spreads and fast execution.

  • Regulations: FCA (Financial Conduct Authority)
  • Type: No Dealing Desk
  • Leverage: up to 1:1000
  • Minimum Deposit: $5
  • Headquarter: St. Vincent and the Grenadines
  • US Customers: No
  • Other instruments: commodities, cryptocurrencies, CFD’s, indices

  • Regulations: unregulated
  • Minimum deposit: $10
  • Platforms: MT4, MT5, cTrader, cAlgo, cMirror
  • InvestinGoal rank: 2.5/5

7. Trader’s Way

With only $10 in the account, retail traders can test true ECN (Electronic Communication Network) market conditions with this Forex broker without ESMA. With type spreads from as low as zero and fair trading conditions, TRADERS WAY is a good choice when looking for a broker that supports traders.

  • Regulations: unregulated
  • Type: Market Maker, ECN
  • Leverage: 1:1000
  • Minimum Deposit: $10
  • Headquarter: Dominican Republic
  • US Customers: No
  • Other instruments: indices, metals, energies, commodities

  • Regulations: IFSC, CySEC
  • Minimum deposit: $1
  • Platforms: MT4, MT5
  • InvestinGoal rank: 3.9/5

8. FBS.com

With a wide range of global payment systems and offering cent accounts too, FBS.com also allows any expert advisor or trading robot too. With leverage up to 1:3000 and no requotes, this brokerage house competes successfully on the online retail trading market with bigger houses.

  • Regulations: IFSC, CySEC
  • Type: No Dealing Desk
  • Leverage: up to 1:3000
  • Minimum Deposit: $1
  • Headquarter: Belize
  • US Customers: No
  • Other instruments: cryptocurrencies, stocks, ETF’s, indices, CFD’s, commodities

  • Regulations: CySEC, ISFC
  • Minimum deposit: No
  • Platforms: MT4, MT5, cTrader, rTrader, RoboForex Terminals
  • InvestinGoal rank: 3.9/5

9. RoboForex

With the possibility of opening trading accounts in six different currencies (Bitcoin included), ROBOFOREX also offers micro-accounts with the minimum trading volume of 0.01. The broker’s wide accounts range (six different types) attracts many traders, from rookie to veteran ones.

  • Regulations: CySEC, ISFC
  • Type: No Dealing Desk
  • Leverage: up to 1:1000
  • Minimum Deposit: No
  • Headquarter: Cyprus
  • US Customers: No
  • Other instruments: soft commodities, metals, and energies, indices, ETF’s, stocks, crypto

  • Regulations: CySEC
  • Minimum deposit: €100
  • Platforms: MT4, MT5
  • InvestinGoal rank: 4.5/5

10. Fibo Group

One of the oldest and most experience brokerage houses, FIBO GROUP offers over sixty currency pairs to trade. It runs a global operation with offices in multiple continents, having something to give to each type of traders. Swing traders, scalpers and investors alike are welcome to open an account with FIBO GROUP.

  • Regulations: CySEC
  • Type: No Dealing Desk
  • Leverage: up to 1:1000
  • Minimum Deposit: 100 EUR
  • Headquarter: Cyprus
  • US Customers: No
  • Other instruments: spot metals, crypto, CFD’s
Try FIBO GROUP with a demo account
(72% of traders lose money in CFD trading)