Best Offshore Trading Platform 2023- Where To Invest In Offshore Assets
Over the past few years, an unprecedented amount of money has flown into the equity and forex markets from retail traders, and an increasing number of people are now beginning to day trade.
While this form of trading was originally used by hedge funds and institutional investors, now several platforms are providing offshore trading accounts for retail traders too. In this guide, we review the different offshore trading platforms available for you.
Best Offshore Trading Platforms 2023 List
While there are several different offshore trading platforms that you can choose from for your trading needs, a list of the top 5 such platforms that you should consider has been given below.
- eToro – The Overall Best Trading Platform
- Webull– Best Trading Platform For US Traders
- Libertex – The Best Overall Offshore Trading Platform
- Skilling – The Best Offshore Trading Platform for the Lowest Fees
- AvaTrade – The Best Offshore Trading Platform for High Leverage
Fixed commissions per operation
- Buy shares and ETFs with 0% commission
- Social and copy trading network
- Invest and trade crypto with low fees
Fees per operation
- Buy stocks and ETFs with zero commission
- No minimum deposit
- Extended trading hours for US stocks
Fees per operation
Best Offshore Trading Platforms Reviewed
A detailed review of the top 5 trading platforms that you should consider for all your offshore trading needs is below. This includes a discussion on the different asset classes, their fees, and the other factors that you must look into before deciding on an offshore trading platform or your needs.
1. eToro – The Overall Best Trading Platform
If you’re in search of a trading platform that is easy to use and provides convenience, then eToro is your best bet. As the largest and most popular social trading platform in the world, it allows you to trade over 2400 assets, which includes 45+ currency pairs, stocks, indices, cryptocurrencies, and commodities. One of the main advantages of eToro is that it offers CFD transactions without any extra fees, making it an attractive choice for active traders who frequently open and close positions.
In addition, eToro offers leverage for a variety of assets. For instance, they provide up to x30 leverage for most major currency pairs, x20 leverage for minor currencies, and x15 leverage for most major commodity pairs. With eToro’s web portal or mobile app, you can easily monitor your trading positions while on the move. Opening an account with eToro is a quick and straightforward process, and once you’ve done so, you’ll have access not only to a range of CopyPortfolios but also to a social trading network with over 17 million users. This allows you to follow the trades of more experienced and successful traders, including the best rapid traders.
Furthermore, eToro is heavily regulated and insured by various organizations around the world, which makes it a very reliable platform for trading financial assets. To get started, you need to open an account and make a minimum deposit of $200, after which you can start trading right away.
|Stock trading fee||Free|
|Forex trading fee||Spread, 2.1 pips for GBP/USD|
|Crypto trading fee||Spread, 0.75% for Bitcoin|
|Inactivity fee||$10 a month after one year|
- Low fees
- Tight spreads
- eToro offers a good range of different assets including stocks, ETFs, commodities and crypto assets
- The platform offers advanced social trading features.
- Regulated by the Financial Conduct Authority
- Forex trading is not available.
- Limited analysis and charting tools.
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
2. Webull- Best Trading Platform For US Traders
Webull is a trading platform that offers a variety of features for investors and traders, all without charging commissions. The platform can be accessed via a web-based platform or a mobile app, providing users with flexibility and convenience in managing their accounts and trading.
Webull's standout feature is its powerful charting and technical analysis tools. The platform offers a wide range of technical indicators and charting options, enabling traders to conduct in-depth analysis and make informed trading decisions. Moreover, the platform provides real-time market data and news feeds, keeping users informed of the latest market trends and developments.
Webull also offers a range of order types, including limit orders, market orders, and stop-loss orders, allowing traders to customize their trading strategies and manage their risk effectively. The platform supports trading in stocks, options, and ETFs, providing users with a range of investment opportunities.
The platform is also user-friendly, with a clean and intuitive interface that is easy to navigate. The mobile app is particularly impressive, providing all the features and tools available on the web-based platform in a compact and convenient format.
However, there are some limitations to the platform. Webull currently does not support trading in mutual funds or bonds, which may be a drawback for some investors. Additionally, the platform does not provide access to research reports or investment recommendations, which may be a disadvantage for beginner traders who rely on these resources for guidance.
Overall, Webull is a solid trading platform that offers a range of features and tools for investors and traders. Its charting and technical analysis tools are particularly impressive, and its commission-free model makes it an attractive option for those looking to minimize their trading costs. However, its limited investment options and lack of research resources may be a drawback for some users.
- No commissions on US stocks
- Easy-to-use interface
- Advanced charting tools
- Large range of assets available to trade
- Not available to European traders
- Lack of educational materials
Your money is at risk.
3. Libertex - The Best Overall Offshore Trading Platform 2023
Libertex is highly reputable and has been in operation for many years. It supports various asset types, such as stocks, commodities, and currencies. It is widely recognized as the best broker for forex trading using the MT4 and MT5 platforms, offering the ability to trade over 51 currency pairs with leverage of up to 30x.
One of the platform's main advantages is its lack of spreads, allowing users to buy and sell items at the same price instantaneously. It's an ideal platform for active traders due to its low commission rate of just 0.006% per trade.
Libertex allows professional traders who meet their experience criteria to trade with leverages as high as 1000x on specific currency pairings, making it the highest leverage available in the market. The platform is compatible with both MT4 and MT5, but it also offers its own trading platform with various features, such as market sentiment research, a built-in news feed, and multiple customizable signal services.
|Stock trading fee||Commission. 0.034% for Amazon.|
|Forex trading fee||Commission. 0.008% for GBP/USD.|
|Crypto trading fee||Commission. 1.23% for Bitcoin.|
|Inactivity fee||$5 a month after 180 days|
- MetaTrader 4 and 5 are both available
- High leverage, up to 1000:1 for professional traders
- Minimum deposit of just 10GBP
- The platform is regulated by CySEC
- Libertex has slow execution times compared to other platforms
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4. Skilling - The Best Offshore Trading Platform for the Lowest Fees
Despite being a relatively new platform, Skilling has gained immense popularity due to its high leverage offering for all traders. The platform provides forex and CFD products with leverage as high as 500x for major and 200x for minor currency pairs, which is significantly higher than most other high leverage forex brokers. Besides forex pairs, Skilling also enables traders to trade commodities with 100x leverage and gold with 200x leverage. However, the leverage for stocks and cryptocurrencies is comparatively lower at 10x and 5x, respectively.
The CySEC regulates the platform, and it doesn't impose any fees or commissions on trades. The platform has narrow spreads, and it also provides copy trading options for those seeking to benefit from the expertise of skilled and experienced traders.
|Stock trading fee||o% Commission on Skilling's Trader Account|
|Forex trading fee||Variable spreads starting from 0.7%|
|Crypto trading fee||Spread. 0.20% for Bitcoin.|
|Inactivity fee||€10 per month after one year|
- Skilling offers over 800 different financial products
- Regulated by CySEC
- Zero commissions or fees for trading
- Copy trading is available
- ETF trading isn't available
Your capital is at risk when trading CFDs with this provider.
5. AvaTrade - The Best Offshore Trading Platform for High Leverage
If you're an experienced trader in search of advanced trading tools, high leverage options, and access to diverse financial assets, Avatrade is the ideal choice for you. Not only is Avatrade recognized as one of the leading offshore forex brokers, but it also supports the popular MT4 and MT5 trading platforms. Additionally, it collaborates with several automated trading programs like ZuluTrade, AvaSocial, and DupliTrade.
Avatrade's greatest selling point may be its high leverage on most trades. Experienced traders comfortable with risk will appreciate the leverage of up to 400x on most currency pairs. Additionally, Avatrade offers fixed narrow spreads throughout the day, such as 0.9 pip for the EUR/USD pair and 1.6 pip for the GBP/USD pair. The platform also provides the opportunity to trade CFDs with low fees and high leverage, making vanilla options trading more accessible.
|CFD trading fee||Variable spread|
|Forex trading fee||Spread. 0.9 pips for EUR/USD|
|Crypto trading fee||Commission. 0.25% (over-market) for Bitcoin/USD|
|Inactivity fee||$50 per quarter after three months of inactivity|
- Avatrade is regulated in 6 jurisdictions by reputable regulatory bodies
- Traders can use either mobile or desktop trading platforms
- Compatible with both MT4 and MT5 charting tools
- Very low fees and commissions
- Up to 400x leverage is available to traders
- Low minimum deposit of $100
- Avatrade offers a very limited choice of assets to trade
71% of retail CFD accounts lose money with this provider.
Offshore Trading Platforms - Fee Comparison
A tabular comparison of the different fees charged for forex pairs by top offshore trading platforms has been discussed below.
|Name of Broker||Trading tool||GBP/USD Spread||EUR/USD Spread|
|eToro||Social trading platform - CopyTrade||2 pips||1 pip|
|Libertex||Highest leverage for professional traders - up to 1000x||0 (fee of 0.006%)||0.9 pips|
|Skilling||High leverage trading with several pairs available||1.3 pips||0.9 pips|
|Avatrade||High leverage of up to 400x alongside vanilla options||1.6 pips||0.9 pips|
Offshore Trading Apps Assets & Software Comparison
|MT4 Trading Platform||No||Yes||No||Yes|
|MT5 Trading Platform||No||Yes||No||Yes|
Best Offshore Trading App
Your choice of the best platform that suits your trading needs and requirements will differ largely on the basis of your trading needs and level of experience. However, the overall best offshore trading platform is Libertex. Not only does it offer a wide range of assets that you can trade through, including stocks, commodities, and currencies, it is also incorporated and regulated in Cyprus, making it a trustworthy offshore trading brokerage provider for day traders. They provide low spreads, high leverage, and are compatible with both the MT4 and MT5 trading platforms. In addition to this, they also have very low minimum deposits and are generally known for their zero spread trading.
How to Choose the Best Offshore Trading Platform in 2023
While trying to choose the best offshore trading platform for your needs, there are various considerations to bear in mind. You should consider a number of things before settling on a certain broker because your choice of broker will directly and proportionally affect how successful your trading strategy is. The following is a list of the numerous elements that merit discussion.
Regulation and Safety
When using an offshore account, your money's security and safety are of the utmost importance. For a number of reasons, it is crucial that you pick a broker who is regulated. The first and most important justification is that regulated brokers are checked and watched over to make sure they don't take advantage of or manipulate their clients. As market-making brokers have a conflict of interest between their trading division and brokerage division, this is especially crucial in their case.
As a result, if you trade with an unlicensed broker who places trades, they can have a propensity to skew prices against you if they are experiencing sizable losses. Your profitability as a trader on the opposing side of the trade will suffer as a result. Dealing with a regulated broker eliminates this danger because they are unable to influence prices depending on their whims and caprices.
Using a regulated broker has the added benefit of being safer and protecting your wealth. Many cases of brokers stealing the money that was invested with them and the like have occurred, costing investors a great deal of money. Since registered brokers are required to carry insurance for the money they retain on their platform, this is not a possibility with them. This guarantees that the money you deposit with them is secure and that it can be withdrawn at any moment.
You should only take into consideration brokers that are regulated by Tier-1 organizations to ensure that the broker you are investing through is secure and in compliance with regulations. There are numerous such organizations that operate in various nations around the globe, and they each pertain to a distinct territory and/or asset class. For instance, the FCA is the top regulatory organization to watch out for if you are business in the UK. The CFTC oversees commodity trading in the US, whereas the CySEC oversees brokers based in Cyprus.
The diversity of assets that an offshore trading platform offers should be taken into account next before trading through it. It is generally advisable to trade on an offshore trading brokerage platform that offers a variety of asset classes, even if you are only going to be trading one or two asset classes. If you decide to broaden your trading horizons and start offshore day trading other assets as well, this will come in handy later.
Also, as they must serve a wide range of traders, platforms that provide access to many asset classes typically have more functionality than other platforms. You can often trade stocks, currencies, commodities, indices, ETFs, and cryptocurrencies on multi-asset offshore trading platforms.
Another crucial factor that will impact your trading experience is the fees you pay. They also influence the types of methods you can use on a specific platform. For instance, an offshore trading platform that levies hefty commissions on each trade you place suggests that you won't be able to scalp trade using it because the commissions will completely eat up your slim profit margins, producing insignificant earnings or even losses.
There are two categories of fees that a platform might charge: trading fees and non-trading fees. Trading fees are the charges a trader makes each time they execute a trade; these charges may take the shape of a commission or a spread. Non-trading fees, on the other hand, are charges that have no connection to the account's trading activity. For instance, this might apply to charges for inactivity, deposits, withdrawals, and account administration.
You should be aware of the various costs that an offshore trading platform levies before you start trading with it. These costs typically vary between asset classes and are unique for each nation and jurisdiction, so you should focus on the ones that apply to your trading requirements. You should always choose a platform with cheaper fees over one with higher fees for the same features.
73.81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
For each trade order you place, you must pay a fixed commission. As commissions are known in advance, one of its benefits is that you may simply account for them while developing a trading strategy or backtesting an existing one. The more you trade, the cheaper your commissions will be in general because commissions are typically based on volume. Yet, commissions might occasionally be more expensive than spreads.
Various brokers provide different spreads and commissions, and some even provide a combination of the two. While both spreads and commissions have benefits and drawbacks of their own, traders tend to favor commissions because they are set, accountable, and reasonably modest if a particular trading volume is exceeded. Always consider whether a broker gives discounts or refunds before choosing one that levies commissions. It will be simple for you to reach the requirement and be qualified for rebates, if any, given offshore trading techniques typically involve high volumes.
The other kind of trading cost that a platform may impose is called a spread, and it often refers to the difference between an asset's buy and sell prices. Platforms may charge either fixed or variable spreads. Variable spreads change throughout the trading day based on market volatility and liquidity, whereas fixed spreads remain consistent throughout. You should be aware of the spread your broker uses and if it is constant or changeable. Depending on the products you want to trade, different brokers have completely different spreads. Spreads might even differ within a same asset class.
Other Trading Platform Fees
There are three different kinds of platform fees that are not associated with trading. The first is the annual account management cost, which you pay in exchange for accessing the platform. The fees for making deposits and withdrawals from your account come next. This may be a flat cost that applies to both deposits and withdrawals, a fee for just deposits or just withdrawals, or a fee that only applies to certain types of deposits and withdrawals.
The third form of fee is an inactivity fee, which only applies if you keep your account open without making any trades or deposits for an extended period of time. You will be assessed the standard inactivity cost in this situation.
You should be aware of the various non-trading costs before choosing a broker because they have an impact on your profitability.
Trading Tools & Features
You must consider a number of additional elements when choosing an offshore broker in addition to the qualities and standards outlined above. These are the platform's features and tools. If you do not intend to use all of your tools, a broader selection is always preferable to a smaller one. Below we've covered the key features you should search for in the right offshore trading platform.
Fractional Ownership and Low Minimums
The possibility of fractional ownership is one aspect you need to consider. Due to this, you are able to buy shares in increments as little as 0.01 shares. If you don't want to put a lot of money into your trading account, this is especially helpful. As an illustration, some shares can cost up to 2000 GBP, and the only way to purchase them with a little initial outlay is by using fractional ownership choices. These days, there are many platforms that provide this feature, so you should absolutely keep an eye out for them.
Low minimum deposit requirements follow from having fractional ownership of shares on a platform since they make it possible to open an account with little initial outlay. As a result, you should also consider platforms like XTB that have modest capital requirements (minimum deposit of 1 GBP).
The next thing to consider while trading is the automatic trading tools that different brokers provide. The most popular way to do this is through the MT4 and MT5 trading platforms, although other brokers permit you to set up and execute automated trading strategies using their own platform. You might use a number of different automatic trading strategies. You could, for instance, decide to trade via trading signals, bots, or by copying another trader. In either case, it's crucial that you locate and work with a broker who supports automated trading techniques.
Platforms give you the option to place a variety of orders. Market orders, limit orders, stop-limit orders, and stop-loss orders are a few of these. Also, there are a variety of deadlines that you can choose for your orders, including:
- End of week
- End of month
- End of Year
- Good-till-date (GTD)
- Immediate or cancel (IOC)
- Good-till-canceled (GTC)
- Day Order
- One week
- One month
It is important for the offshore broker you choose to allow you to place such orders so that you can trade with maximum efficiency.
Research and Analysis
Tools for research and analysis are crucial, especially for offshore trading platforms. Technical and fundamental tools for study and analysis are the two categories that a platform might provide. Technical tools can be generic or asset-specific and include charting and analyzing techniques. Economic calendars, financial reports, expert projections, and other data of a similar nature are fundamental instruments.
Most traders only undertake one of the two types of analysis, but it's crucial to be aware of both because they have an effect on pricing and can thus change how profitable your techniques are overall. Your task may be made simpler if you use a broker who uses both fundamental and technical analysis.
Certain platforms require some getting used to because of the peculiar ways in which they are built and organized. This is assisted by a demo account because it enables you to comprehend how the platform's order execution and navigation work. In addition, using a demo account on a platform allows you to gain knowledge and expertise without putting real money at risk while testing out your methods in real market conditions. This is a really helpful tool, and it is always preferable to utilize a broker who enables the opening of demo accounts.
A mobile app is quite helpful since it enables you to keep track of your positions and trade while you are on the go, even when you are not close to a laptop or computer. While you're on the go, you can keep informed thanks to the features that allow you to establish price alerts and receive push notifications from the majority of mobile apps.
Another important aspect to think about is the number of options available to you for making deposits and withdrawals from your trading account. Although the majority of brokers let you use credit/debit cards and bank transfers to deposit money, it is preferable to utilize brokers who also accept deposits through electronic wallets like PayPal, Skrill, and others. You'll be able to simply contribute to and withdraw money from your account thanks to this.
The platform's customer service offerings would be the final element you need to take into account. The platforms that offer live chat alternatives are always highly recommended because they allow you to swiftly and simply get answers to your questions as they come up. Additionally, you should search for platforms with customer support teams that are accessible around-the-clock so that you can call or email them and get assistance when you need it.
How to Get Started with an Offshore Trading Platform - Libertex
Starting up with an offshore trading platform like Libertex is pretty easy and simple, and there are 5 stages that have been covered in detail below.
1. Open a Trading Account
73.81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
The first step is to open a Libertex account. This can be done by simply heading over to their website and clicking on the “Join Now” button. You will be asked to fill up a form with your contact details, email ID, and your full name. You will also have to set up your login credentials. Alternatively, you can use your Facebook account to log in to Libertex.
2. Confirm Identity
The subsequent phase after creating an account is to confirm your identity. Libertex is a highly regulated broker, thus before your account can be validated, you must provide identification and address documentation. You may present any government-issued identification, such as a driver's license or passport, as proof of identity. You might provide a utility bill or your bank statement as evidence of your address.
The Libertex verification process is quite quick after the necessary documents have been uploaded. You can go to the following step if your account has been authenticated.
3. Deposit Funds
The next step is to deposit funds into your account. Libertex supports a wide range of payment methods including credit cards, debit cards, PayPal, SEPA/International bank wire transfers, Skrill, Neteller, and more. There are no deposit fees and your funds are credited to your account instantly except for wire transfers that take between 3-5 days.
4. Search for a Trading Market
The next step is to look for the market on which you want to trade. To do this, just type the name of the market into the search field. The market of your choice is then available for selection. Alternatively, you can use the menu to choose an asset class, then use that to locate the market you want to trade in.
5. Place a CFD Trade
Placing a trade is the last step. To do this, simply access the page for the asset in question, click on buy or sell, input the desired trade amount, choose your leverage level, select your stop loss amount, and then click on execute. The trade will be carried out almost immediately.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74,5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
Retail traders are increasingly turning to offshore trading as a method to avoid taxes and access a larger range of marketplaces. When trading through an offshore trader, there are a number of crucial factors to keep in mind, all of which have been covered. They include overarching platform considerations like the list of available asset classes and trading costs. The platform's trading tools, such as its analytical features and the many order types that may be sent through it, are also included.
eToro - Alternative to Offshore Trading Platforms
Trading on eToro is an alternative to using an offshore trading platform. With access to more than 2400 markets and instruments, it is one of the biggest social trading platforms in the world. Also, the platform enables commission-free trading of commodities, equities, indices, ETFs, and cryptocurrencies with very minimal spreads. Almost 15 million people utilize the eToro platform, which is governed by regulatory bodies worldwide.
eToro is regarded as one of the top stock trading platforms in the world for two key reasons. The first factor is their user-friendly platform, which was created to mimic a social media platform for new traders. They also provide training and a trial account so you can get acquainted with the software before you start trading. Their social trading tools are the second justification. With eToro, you have the ability to mimic more seasoned traders and benefit from their knowledge in addition to seeing what other traders think about a specific stock.
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.