Offshore brokers for higher Leverage

[Shrubbery]

I have tried Finpro Trading. It’s a decent broker.

Are you still using them? I am a beginner and to be honest more than anything else I want supportive customer service, I don’t want to go with any broker who won’t respond easily. Any other brokers you had a good trading experience with?

 

[Revetment]

As a beginner I was really doubtful about the offshore brokers. Since there are some regulated brokers with high leverage, I didn’t get why traders go offshore for high leverage broker. However, when I tried trading with an offshore broker, I realised that it’s not only about leverage but the spreads and minimum deposits are also lower with them whereas high leverage regulated brokers require at least $500 minimum deposit.

 

[destinyrim]

Are you still using them? I am a beginner and to be honest more than anything else I want supportive customer service, I don’t want to go with any broker who won’t respond easily. Any other brokers you had a good trading experience with?

Their support is solid. Another one I found good was lmfx.

 

[JoeSeki]

I know most traders want to take advantage of high leverage but it should be well remembered that leverage can also be very risky. Many high leverage brokers even offer 3000:1 and I don’t understand how traders manage a huge loss which they incur because of using the highest leverage. I’ve never gone above 500X and I can hardly be at peace even after using stop loss.

I think it all depends on personal choices and goals. Some traders are happy with small profits and growing their account slowly but some want big profits. Still it’s not a safe path to follow, especially for beginners.

 

[JoeSeki]

As a beginner I was really doubtful about the offshore brokers. Since there are some regulated brokers with high leverage, I didn’t get why traders go offshore for high leverage broker. However, when I tried trading with an offshore broker, I realised that it’s not only about leverage but the spreads and minimum deposits are also lower with them whereas high leverage regulated brokers require at least $500 minimum deposit.

Basically it’s more affordable to trade with offshore brokers because of lower deposits and trading costs. Which is the broker you are using currently?

 

[Revetment]

@JoeSeki I am using Coinexx atm. Initial deposit is only $10 and spreads are also very low.

 

[cashisking149]

As a beginner I was really doubtful about the offshore brokers. Since there are some regulated brokers with high leverage, I didn’t get why traders go offshore for high leverage broker. However, when I tried trading with an offshore broker, I realised that it’s not only about leverage but the spreads and minimum deposits are also lower with them whereas high leverage regulated brokers require at least $500 minimum deposit.

There is 100% a viable niche there that these guys are trying to fill. There are many that want to do a job at this but are tarnished by poor scammers.

 

[Revetment]

There is 100% a viable niche there that these guys are trying to fill. There are many that want to do a job at this but are tarnished by poor scammers.

I absolutely agree with you on this! Since there isn’t any authority monitoring unregulated brokers, some take it as an opportunity to scam. On the other hand, some brokers with a serious intention to do business use this opportunity to offer better services.

 

[Genesiology]

@JoeSeki good list you've created out here, perhaps you can update it further, what do you think of cedarfx broker, offer commission-free trading, plus I find their tree-planting initiative really cool

 

[JoeSeki]

@JoeSeki good list you've created out here, perhaps you can update it further, what do you think of cedarfx broker, offer commission-free trading, plus I find their tree-planting initiative really cool

Will look into it and your suggestion of updating the list, cheers