#1

FxPro

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

79% of retail CFD accounts lose money

#2

AvaTrade

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

71% of retail CFD accounts lose money

#3

IC Markets

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

74-89 % of retail CFD accounts lose money

#4

Admiral Markets

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

83% of retail CFD accounts lose money

#5

XM

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

69.75% of retail CFD accounts lose money

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:

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


79% of retail CFD accounts lose money

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: FxPro UK Limited authorised & regulated by the FCA (509956); FxPro Global Markets MENA Limited authorised & regulated by the DFSA (F003333); FxPro Financial Services Ltd authorised & regulated by CySEC (078/07) and the FSCA (45052); FxPro Global Markets Ltd authorised & regulated by the SCB (SIA-F184). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Agency
  • Leverage: 1:500
  • Minimum Deposit: $100, however, clients under the DFSA will need to deposit $500
  • Platforms: MT4, MT5, cTrader, FxPro Edge (web platform)
  • Headquarters: FxPro Group Limited is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on futures, indices, shares, metals, energies; spread betting
Try FXPRO with a demo account

79% of retail CFD accounts lose money

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


71% of retail CFD accounts 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: AVA Trade EU Ltd regulated by the Central Bank of Ireland (No.C53877); AVA Trade Ltd regulated by the V.I Financial Services Commission; Ava Capital Markets Australia Pty Ltd regulated by ASIC (No.406684); Ava Capital Markets Pty regulated by the South African Financial Sector Conduct Authority (FSCA No.45984); Ava Trade Japan K.K. regulated by the FSA (No.1662) and the FFAJ (No.1574). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:30
  • Minimum Deposit: AUD $ 100, USD $ 100, £ 100, or € 100
  • Platforms: AvaTradeGo (mobile app), MT4, Mac Trading (specifically for Macs), Webtrader
  • Headquarters: AVA Trade EU Ltd is headquartered in Dublin, Republic of Ireland
  • US Customers: No
  • Other instruments: CFDs on indices, stocks, cryptocurrencies, commodities, options, ETFs
Try AVA TRADE with a demo account

71% of retail CFD accounts lose money

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


74-89 % of retail CFD accounts lose money

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: International Capital Markets Pty Ltd. licensed by ASIC (AFSL no. 335692). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN, STP
  • Leverage: 1:500
  • Minimum Deposit: $ 200
  • Platforms: MT4, MT5, MT WebTrader, MT iPhone/iPad, MT Android, MT Mac, cTrader, cTrader Web, cTrader Android, cTrader iPhone/iPad, cTrader cAlgo
  • Headquarters: International Capital Markets Pty Ltd. is headquartered in Sydney, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, stocks, futures, bonds, cryptocurrency
Try IC MARKETS with a demo account

74-89 % of retail CFD accounts lose money

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


83% of retail CFD accounts 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: Admiral Markets UK Ltd authorised & regulated by the FCA (595450); Admiral Markets AS authorised & regulated by the EFSA (4.1-1/46); Admiral Markets Cyprus Ltd authorised & regulated by CySEC (201/13); Admiral Markets Pty Ltd holds Australian Financial Services Licence (410681). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: Clients registered with a standard retail account can access 1:30 leverage, clients registered with a professional account can access 1:500 leverage
  • Minimum Deposit: $ 200 or similar size in other currencies
  • Platforms: MetaTrader WebTrader, MT4, MT5, MetaTrader Supreme Edition
  • Headquarters: Admiral Markets UK Ltd. is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on commodities, indices, shares, bonds, cryptocurrency, ETFs
Try ADMIRAL MARKET with a demo account

83% of retail CFD accounts lose money

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


69.75% of retail CFD accounts lose money

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: Trading Point of Financial Instruments Pty Limited licensed by ASIC (443670); Trading Point of Financial Instruments UK Limited authorised & regulated by the FCA (705428); Trading Point Of Financial Instruments Ltd regulated by CySEC (120/10). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:500
  • Minimum Deposit: $ 5
  • Platforms: MT4 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet), MT5 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet)
  • Headquarters: Trading Point Of Financial Instruments Ltd is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, stocks, metals, and energies
Try XM with a demo account

69.75% of retail CFD accounts lose money

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


74-89% of retail CFD accounts lose money

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. OCTAFX shows trust from a reputed brokerage house and traders from all over the world enjoy the low spreads and fast execution.

  • Regulations: Octa Markets Incorporated is regulated by the FSA. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, STP
  • Leverage: 1:500
  • Minimum Deposit: $ 5
  • Platforms: MT4 (web platform, desktop, Android, iOS), MT5 (web platform, desktop, Android, iOS), cTrader (desktop, Android, iOS)
  • Headquarters: Octa Markets Incorporated is headquartered in Kingstown, St. Vincent and the Grenadines
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, cryptocurrency
Try OCTAFX with a demo account

74-89% of retail CFD accounts lose money

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


74-89% of retail CFD accounts lose money

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: TW Corp. is not currently regulated. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, STP
  • Leverage: 1:1000
  • Minimum Deposit: $ 10
  • Platforms: MT4 (PC, Mac, web platform, mobile apps), MT5, cTrader (web platform, mobile apps), cAlgo, cMirror
  • Headquarters: TW Corp. is headquartered in Roseau, Dominica
  • US Customers: No
  • Other instruments: CFDs on metals, commodities, energies, stocks, cryptocurrency
Try TRADERS WAY with a demo account

74-89% of retail CFD accounts lose money

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


74-89% of retail CFD accounts lose money

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, FBS.com competes successfully on the online retail trading market with bigger houses.

  • Regulations: Tradestone Limited authorized & regulated by the by CySEC (331/17); FBS Markets Inc. regulated by IFSC (IFSC/60/230/TS/18). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN
  • Leverage: 1:3000
  • Minimum Deposit: $ 1
  • Platforms: MT4 (for Windows, iOS, Android and/or webtrader)
  • Headquarters: FBS Markets Inc. is headquartered in Belmopan, Belize
  • US Customers: No
  • Other instruments: Futures; CFDs on precious metals, oil, cryptocurrency
Try FBS.COM with a demo account

74-89% of retail CFD accounts lose money

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


74-89% of retail CFD accounts lose money

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: RoboForex Group regulated by the IFSC (IFSC/60/271/TS); RoboForex (CY) Ltd regulated by CySEC (191/13). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN, STP
  • Leverage: 1:2000
  • Minimum Deposit: $ 10
  • Platforms: MT4 (desktop, web, iOS, Android), MT5 (desktop, web, iOS, Android), cTrader (desktop, web, iOS, Android), R Trader (web platform)
  • Headquarters: RoboForex Group is headquartered in Belize City, Belize
  • US Customers: No
  • Other instruments: CFDs on stocks, indices, ETFs, soft commodities, energies, metals, cryptocurrency
Try ROBOFOREX with a demo account

74-89% of retail CFD accounts lose money

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


66% of retail CFD accounts lose money

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: FIBO Group Holdings Ltd. authorised & regulated by CySEC (118/10); FIBO Group, Ltd. Company regulated by FSC (SIBA/L/14/1063). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: STP, ECN
  • Leverage: 1:1000
  • Minimum Deposit: $ 300
  • Platforms: MT4 (Windows, iOS, Android, web platform), cTrader, MT5 (Windows), UMSTEL (web platform)
  • Headquarters: International Financial Holding FIBO Group is headquartered in Vienna, Austria
  • US Customers: No
  • Other instruments: CFDs on futures, spot metals, options, stocks, ETFs, cryptocurrency
Try FIBO GROUP with a demo account

66% of retail CFD accounts lose money