What are the advantages of trading in a forex broker regulated in Seychelles? What's so special about offshore jurisdiction? And what are the options?

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All financial and brokerage firms, including Forex, CFDs, and Derivatives businesses are a highly regulated industry. If a company wish to offer their Forex Brokerage services to its clients (either Corporate or Personal), the company must own a Forex Broker License. Furthermore, it is less likely for banks to accept an account opening application from unlicensed companies unless the company or the individual is limiting their trade to only personal funds.

Forex Broker License

The requirement and regulation to acquire this License differ for each country. Once acquired, this License can be useful for Brokerage, mutual, or hedge funds firms that may have clients wishing to invest their funds safely.

 

 

Why Offshore Jurisdiction?

While traders are now more used to offshore forex brokers, renowned regulators are making it impossible for people outside Australia, New Zealand, and the US to trade spot FX. As an example, in June 2019, IC Markets stopped serving its clients outside Australia. The same action is being enforced by CySEC as well. Brokers are being forced to get a compliance opinion from every country they accept clients from. Otherwise, they face the possibility of receiving a hefty fine.

See also: CySEC Regulated Forex Brokers

Even worse, local regulators are seen pushing their regulated brokerage more than ever, imposing client and Brokerage firms, mutual or hedge funds with the obligation to comply with onerous and costly compliance of their resident jurisdiction. Thankfully, the client's investments nowadays can be done through an entity incorporated in an offshore jurisdiction, licensed to carry on the Securities dealing business, bypassing these constraints legally.

Offshore Jurisdiction

All jurisdictions, both onshore and offshore, can grant a Forex Broker License to qualified applicants. Generally, onshore jurisdictions do impose much higher capital requirements on applicants so the costs of setting up a brokerage in those jurisdictions are very high when compared to some of the offshore financial centers. Offshore jurisdictions offer many interesting possibilities because many countries will allow a Forex Brokerage to operate free of tax on profits. Consequently, the price and trading fees that thy offer to retail traders and investors are much lower and attractive.



 

Which Offshore Jurisdiction?

No single country can be defined as the best country to set up a new Forex brokerage. Here are some of the most popular offshore jurisdictions for Forex Brokerage:

  • Belize;
  • Mauritius;
  • Saint Vincent and the Grenadines;
  • Marshall Islands;
  • British Virgin Islands;
  • Cayman Islands;
  • the Seychelles;
  • Vanuatu

The cheapest offshore jurisdiction to set up a Forex Brokerage nowadays is in the country of Vanuatu. To set up a new brokerage in Vanuatu, a broker only needs to prepare funds as low as $2,000 as the local capital requirement and $1,000 up to $3,000 for the corporate service provider.

offshore forex broker jurisdiction

Every country sets different capital requirements, intending to ensure that corporate founders are financially solid. Some example of capital requirements from various jurisdiction is as follows:

  • Belize: capital requirement for new Forex brokerage is $500,000
  • Cayman Islands: capital requirement for new Forex brokerage is $100,000
  • Seychelles: capital requirement for new Forex brokerage is $50,000
  • Vanuatu: capital requirement for new Forex brokerage is $2,000

But, cheap is rarely a good option when it comes to choosing a forex broker based on the country it's located. For example, if you end up trading in a broker headquartered at this tiny Pacific Ocean island country, there is practically no sound regulation that guarantee your fund's safety and other clients' interests. You have to do a proper an in-depth analysis of the jurisdiction before you decide to go ahead and register in an offshore forex broker.

In our opinion, the best jurisdiction today to incorporate a reasonable cost combined with reasonable capital deposit requirements is in Seychelles. This is very understandable because the nation has more flexible trading controls, less strict rules, and simpler requirements. Regulations in Seychelles are overseen by the Seychelles Financial Services Authority (FSA). High leverage and ease of registration are the most prominent characteristics of FSA-regulated forex brokers. Seychelles also offers low registration costs and a rapid approval process. It is no surprise that the Seychelles regulation has become so popular among Forex Brokers.

 

Seychelles Forex Broker License Requirements

Seychelles has become increasingly popular among Forex Brokers and CFD Brokers. The basic requirements to set up a Forex Broker in Seychelles are as follows:



  • Domestic Company formation in Seychelles

To obtain the license, there needs to be an incorporation of a Domestic company in Seychelles with a share capital of $50,000. The company must have at least two (2) shareholders and two (2) directors. A person can act both as a shareholder and director of the company. The incorporation takes around 2 weeks.

  • Office

The company also needs a fully furnished office fit for FSA approval – as the FSA needs to see that the company has an operating presence in Seychelles. The office includes the following services: Rent, electricity, water, active phone number, cleaning, and basic internet. Do note that the FSA will visit your office for inspection.

  • Compliance officer

The company needs to appoint a compliance officer who will help the correspondence with FSA and record keeping.

  • Security Dealer License Representative

The company needs to appoint a qualified director as the Securities Dealers License Representative.

  • Legal advisor

The legal advisor will liaise with FSA and ensure the company has a proper legal system to support business operations.

  • Professional Indemnity Cover

It is mandatory to have professional indemnity coverage. The company can either arrange it or get it arranged by an insurance broker.

 

Required Documents



To qualify, all the following documents are required from all Directors/Officers, Shareholders, and Beneficial Owners. The document must not be older than 3 months:

  1. Police Clearance Certificate – Certificate to ensure stakeholders don't have any criminal records
  2. Declaration of No history of bankruptcy
  3. Certified Copy of Passport
  4. Original or Certified Copy of Bank Reference Letter
  5. 2 Certified copies of Professional Reference Letters
  6. Original or Certified Copy of utility bills
  7. Resume/CV outlining experience in Forex Brokerage Activities and Qualifications warranting issuance of a license

 

An Overview of Seychelles Regulated Forex Brokers

As mentioned previously, Seychelles regulation allows brokerages to provide more flexible trading conditions. Therefore, you can trade with high leverage up to 1:1000 (or sometimes more) in Seychelles regulated forex brokers. Also, with the relatively low cost to open a brokerage service, forex brokers in Seychelles enable their clients to open accounts with a deposit as low as $10 and trade with small trading volumes.

Here are the most prominent examples of Seychelles regulated forex brokers:

1. easyMarkets

easyMarkets

Rating


Spread
Fixed
Regulation
ASIC, 246566
Min Deposit
$100
Established
2001


Interest rate on funds

Bonus offers



Trading contests

Free education

Personal manager

Trading by telephone

PAMM accounts

MAM accounts

Segregated accounts

Affiliate program

Islamic accounts available

Payment

BPAY
Credit/debit cards
FasaPay
giropay
iDEAL
Neteller
Skrill
SOFORT
UnionPay
WebMoney
Wire transfer

Since 2001, easyMarkets have been writing their stories in financial markets. Simple, Honest, and Transparent, become three values that are carried on easyMarkets. The company has tried to make the process of trading as simple as possible.

They rebranded from easy-forex to easyMarkets in 2016. Over the years, easyMarkets expanded their CFD offerings to include global indices, options, metals, forex, commodities, and cryptocurrencies. The company is licensed by CySEC and ASIC.

Another privilege when trading in easyMarkets is its own platform. easyMarkets platform is simple and versatile. Based on reviews from traders, it's friendly to new clients and hosts a lot of features for experienced traders. Clients also receive free guaranteed stop loss, no slippage, fixed spreads, and no funding or withdrawal fees from easyMarkets.

There are three uniques features in the platform. Firstly, dealCancellation gives traders the ability to "undo" their trade. easyMarkets is the only broker that offers a way to close trade before it reaches 60 minutes duration only with a small fee.

Furthermore, traders can enjoy the Inside Viewer. This tool gives traders a deeper understanding of market sentiment by showing them percentage of buying and selling executed in the platform. The third unique feature is Freeze Rate. traders can pause a rate and place their trade at the "frozen" rate using this tool.

easyMarkets also includes financial calendar, market news, trading charts, and trading signals as the platform's perks. They also offer the technology on the mobile interface via iOS and Android devices. Traders can access markets anywhere and at any time.

MetaTrader 4 is also provided by easyMarkets. When using this popular trading platform, traders will get negative balance protection and fixed spreads. Besides that, Vanilla Options is available in this broker.

Because of those innovations, easyMarkets is an award-winning broker, receiving Forex Broker 2019 by The Forex Expo-Dubai, Most Innovative Broker 2018 by World Finance Markets Awards, Best APAC Region Broker 2018 by ADVFN International Financial Awards, Most Transparent Broker 2017 by Forex-Awards, Best Forex Service Provider 2017 by FXWord China, and many more over the years.

Moreover, easyMarkets offers three account types, such as VIP Accounts, Premium Accounts, and Standard Accounts. All of them can be accessed by the Web/App and MT4 platform. easyMarkets provide maximum leverage at 1:200 when using easyMarkets Web/App platform, and maximum leverage of 1:400 when using MT4.

Fixed spreads start from 1.0 pips in forex trading. Traders can become easyMarkets VIP clients with some benefits, such as trading via telephone, access to the tightest fixed spreads, personal analyst, and real-time market updates via SMS.

Traders do not need to pay additional fees whethere it is for commission, account fees, or deposit withdrawal. Account currencies are available in 18 options including EUR, CAD, CZK, JPY, NZD, USD, SGD, and many more. The company offers multiple ways to deposit and withdraw funds, some of them are credit/debit cards, bank transfers, and a selection of eWallets like Neteller, Skrill, and Fasapay.

For any questions or assistance, traders can contact the company directly at one of their local offices or at their headquarters in the Marshall Islands. Besides, traders can chat with their customer service by email, Facebook, WhatsApp, Viber, and Live Chat.

Based on the review above, easyMarkets provides easy-to-use platforms with some unique tools and it can be accessed by traders anytime and anywhere. Besides, traders do not need to pay extra fees for trading commission and deposit/withdrawal fees. Traders who register in easyMarkets can enjoy low spreads in EUR/USD pairs from 0.9 in the MT4 platform.

 

2. BDSwiss

BDSwiss

Rating


Spread
Variable and Fixed
Regulation
CySEC, 199/13
Min Deposit
$100
Established
2012


Bonus offers

Trading contests

Free education

Personal manager

PAMM accounts

LAMM accounts

MAM accounts

Segregated accounts

Managed accounts

Affiliate program

Islamic accounts available

Payment

giropay
iDEAL
paysafecard
Skrill
SOFORT
Wire transfer

 

3. HotForex

HotForex

Rating


Spread
Variable
Regulation
CySEC, 183/12
Min Deposit
$5
Established
2010


Bonus offers

Trading contests

Free education

Personal manager

Trading by telephone

PAMM accounts

Segregated accounts

Managed accounts

Affiliate program

Islamic accounts available

Payment

Bitcoin
Credit/debit cards
Ethereum
FasaPay
Litecoin
Neteller
Perfect Money
Ripple
Skrill
WebMoney
Wire transfer

HotForex is an award-winning forex and commodities broker. Established since 2010, the company provides trading services and facilities to both retail and institutional clients. For more than 9 years in business, HotForex has around 1,500,000 live accounts opened and 200 employees globally.

Based on its services, HotForex can be regarded as middle-class category. Clients do not need to prepare a big deposit for joining to trade in this broker. Also, there are various accounts types, trading softwares, and tools to facilitate individuals and institutional customers to trade forex and CFD online.

HotForex is a registered brand name of HF Markets (Europe). Based on the location, the company is regulated by various financial regulators. Here are the details:

  • HF Markets (SV) Ltd, registered in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
  • HF Markets (Europe), authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with Licence Number 183/12.
  • HF Markets SA (PTY), authorized and regulated as a Financial Service Provider (FSP) from the Financial Sector Conduct Authority (FSCA) in South Africa, under the licence number 46632.
  • HF Markets (Seychelles), incorporated under the laws of the Republic of Seychelles with registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015.
  • HF Markets (DIFC) Ltd, authorised and regulated by the Dubai Financial Services Authority (DFSA) under licence number F004885.
  • HF Markets (UK) Ltd, authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.

If traders have more experienced, knowledgeable, and sophisticated trading environment, they can join to become Professional Clients, who can manage and assess their own risk. For that reason, this kind of clients are granted access to more favorable rates but afforded with lesser regulatory protections than of retail clients.

Trading with HotForex can enable traders to access a variety of trading instruments like CFDs on Forex, Cryptocurrencies, spot metals (gold, silver, and others), energies (oil and gas), commodities (such as coffee, copper, and sugar), indices, bonds, and popular shares such as Google, Apple, and Facebook.

HotForex offers some of the tightest spreads in the market, starting from 0 pips in Zero Account. This broker quote major foreign exchange currency pairs to five decimal places. Therefore, traders have the opportunity to get more accurate in pricing and the best possible spreads.

HotForex receives numerous highly prestigious titles, including the huge honor of being selected to join the ranks of the World Finance Top 100 Global Companies. Others are Best Client Funds Security Global by Global Brands Magazine, Best Global Forex Copy Trading Platform by Global Forex Awards 2019, Fastest Growing Forex Broker Mena 2019 by International Business Magazine, and many more.

After opening an account in HotForex, traders will obtain various forex trading platforms to accommodate all of their trading demands. Whether traders like to trade from desktop or prefer to trade on-the-go, they can use MetaTrader 4 in desktop (terminal, multi-terminal, and web terminal) and phone (iPhone, iPad, and Android).

Clients’ funds are held in segregated accounts. Only major banks are used by HotForex because they believe that successful traders have to give their full attention to their trading rather than worrying about the safety of their funds.

Traders do not need to worry about transaction fees when depositing and withdrawing. Transaction fees are not charged, and diversity of payment methods enable them to choose between Wire Transfer, Bank Card, and online payments (Neteller, iDeal, Sofort Banking, and Skrill). HotForex ensures that traders make fast transactions 24/5 during the standard hours.

Traders can earn extra income by joining the affiliate program offered by HotForex. Clients who join this program will get some advantages, such as 60% of Net Spreads based on the volume traded by sub-clients, up to $15 per a lot of net revenue, and many more. More information about HotForex can be obtained on their official website which is supported in 27 languages.

From the review above, it can be concluded that HF Markets is one of the award-winning forex and commodities brokers. There are various account types traders can choose in HotForex, and the broker itself becomes a favorite among traders for its low spreads. This condition is very suitable for traders with limited funds and a desire to get more opportunities to gain maximum profit.

 

To compare them better, here is the side-by-side view of the three brokers above:

Feature easyMarkets BDSwiss HotForex

Rating

General Rating 4.33/5
3.67/5
3.81/5
Trustpilot 3.3/5

rated by 138 users
2.7/5

rated by 69 users

General Information

Office(s) Australia, Cyprus and Poland Cyprus, Germany, Philippines and Seychelles Cyprus, Mauritius, Poland and United Arab Emirates
Regulation ASIC 246566
CySEC, 079/07
FSA (Seychelles), 19.09.2020
CySEC 199/13
FSA (Seychelles), SD047
FSC (Mauritius), C116016172
CySEC, 183/12
DFSA (Dubai), F004885
FCA (UK) 801701
FSA (Seychelles), 8419176-1
FSA (St. Vincent & the Grenadines), 22747
FSC (Mauritius), 094286
FSCA (South Africa), 46632
Established 2001 2012 2010
Minimum Deposit $100 $100 $5
Maximum Leverage 1:400 1:400 1:1000
Spread Fixed Fixed Variable
Commissions $8
Minimum Position 0.01 lot 0.01 lot 0.01 lot
Payment BPAY, Credit/debit cards, FasaPay, giropay, iDEAL, Neteller, Skrill, SOFORT, UnionPay, WebMoney and Wire transfer giropay, iDEAL, paysafecard, Skrill, SOFORT and Wire transfer Bitcoin, Credit/debit cards, Ethereum, FasaPay, Litecoin, Neteller, Perfect Money, Ripple, Skrill, WebMoney and Wire transfer
Official Website Visit easyMarkets Visit BDSwiss Visit HotForex

Account Variations

Segregated Account
Islamic Account
PAMM Account
Managed Account
LAMM Account
MAM Account
Forex Demo Account

Trading Requirements

Hedging
US traders are welcome
Requires sending documents via postal mail
Overnight interest rates (swaps)
Trading by telephone

Trading Features

Trading contests
Automated trading
Interest rate on funds
Bonus offers
Free education
Personal manager
Affiliate program

Trading Platforms and Complements

Mobile trading
Browser-based platform
Trading via API
One-click trading
Trailing stop
Pending orders
One-Cancels-Other (OCO) orders

Instruments Traded

Forex
CFD
Indexes
Spread betting
Gold & silver
Cryptocurrencies
Stocks
Binary options
Oil
Metals
Energies
Futures
ETF
Soft commodities
Options
Agriculture
Bonds

Customer Support

Website Languages Arabic, Chinese, English, French, German, Polish, Russian, Spanish, Vietnamese Arabic, Czech, Danish, English, German, Hindi, Italian, Korean, Norwegian, Polish, Romanian, Russian, Spanish, Thai, Vietnamese Arabic, Bulgarian, Chinese, English, French, German, Greek, Hindi, Hungarian, Italian, Japanese, Korean, Malay, Persian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Tagalog, Thai, Urdu, Vi
Email Support
Call Support
Chat Support

Reviews

General Review Read easyMarkets Review Read BDSwiss Review Read HotForex Review
User Reviews

Keira Mason

Sep 8 2020

I have a few issues but on the other hand a great platform. What I really applaud is how quickly issues are resolved.


Charles Dawson

Sep 22 2020

Easymarkets trading apps really help me during this covid19 situation. I appreciate their assistance to answer all my questions as a newbie trader. All the best for us. Stay healthy and please use your mask!!!!!


A Khulaiban

Sep 21 2020

Easymarket is great for assisting all the way that you need them and immediately give feedback your complaints.
Although I didn't make any profit from this company is like the way they operate hope I will will grow with Easymarket.
Thank you easymarket team.


Bella Quincy

Sep 20 2020

Easymarkets really want you to lose all of your money. Using EA is difficult process. Stay away from this broker and you'll thank me.


Ron Morris

Sep 19 2020

I was not informed that I have to have a Skrill or Neteller account in order to make a withdrawal. It clearly stated on the apps that withdrawal will be credited back into my debit account.


Johnson Andrea

Sep 18 2020

I don't know if this is their dirty way to make money, but easy markets always want you to invest more money without allowing any of your withdrawals. TSudden change of terms and slow the pace of replies once you make withdrawal request.


Edward Keller

Sep 17 2020

EasyMarkets is………. Easy. Their layout is simple and I absolutely love their simplicity.


Malik A Cornwell

Sep 16 2020

EasyMarkets have a very good support from the team. Thank you for assisting me. Good job!!


Brace Graham

Sep 15 2020

I recommend this broker for their customers related matters, they don't give you a false hope.


Ruth S

Sep 14 2020

My name is Ruth, I have been trading with easy markets since long time ago. I have gotten alot of support and help whenever required by the easy markets team which has gone along way to help me in my trading experience. Keep the good work team!


Brandon Guillermo

Sep 13 2020

I'm happy with EasyMarkets. Now I'm trading with their MT4. I trade limit orders as well as spot orders.


Jacob Baryson

Sep 6 2020

Bye to this broker who only knows to take their new traders money. Limited leverage is completely nonsense.


Nanda S

Sep 5 2020

EasyMarkets is not the best but not the worst either. Their CS is very responsive. EA is accepted but you must ask to your agent first. The only thing upsetting is their big spreads. Scalping is a big no. Swing traders is a no too.


Junee Marishka

Sep 24 2020

I tried to trading again after a long time, but unfortunately, I don't remember my password and money transfer was missing, at last I got the help from easymarkets customer service. Their staff she is so nice to explain to me in details and helped me out all my problems.


Malika Nasution

Sep 5 2020

Day traders are a charge for holding over to the next day; spreads appear reasonable but when you see the cost it does not match the opening price; Their customer services are pleasant and helpful but they are just operatives with little discretion.


Kinsey R

Sep 3 2020

I have a lot of experiences with many different companies, but I have to say that Easy Markets has one of the fastest withdrawls and my account manager is very helpful and professional, I wish there were more companies like them. 5 stars for them.


Lin Mayun

Sep 23 2020

This is a big scam broker here in Hongkong. They always say that trade was "unauthorized activity" but actually they are market maker who fixes trade to not be in your favor. Choose another broker and go away from here.


John Kavanaugh

Sep 14 2020

The spreads of this broker are far too high- there are many other brokers to choose from that are offering much better choices.


Reid Coalter

Sep 9 2020

I had a problem with my password account. Their customer service who assisted me was quick to help me reset the password. This process did not take long at all. Thank you for your speedy response to your clients' problems.


Bryan Redner

Sep 3 2020

Please go away from easymarkets scam. They manipulated the price and never let you withdraw your money. Spread too high. I tried them but not find anything good.


Barry Jones

Sep 1 2020

BDSwiss is highly recommended broker because their fast withdrawal request. Based on my own experience!


James Curtis

Sep 1 2020

good strong broker with many years experience far spreads, and good commissions, over all well trusted and doing well would recommend


Susan Bones

Sep 1 2020

BDSwiss have an amazing and fantastic trading apps. I highly recommend them. Their app is user friendly and very easy to set up and start trading.


Adam Curtis

Sep 1 2020

Both me and my friend had a terrible time trying to withdraw profits. So now I avoiding this broker.


George N

Sep 25 2020

Withdraw my profit without problem and they have a great customet service.


Sullivan

Sep 1 2020

I don't know why they hold back my money. I just want to withdraw my money because I need it. Please give my money back.


Jane Charles

Sep 1 2020

Bdswiss is the best broker. Their attitude towards customer services is really good. You can be sure your funds are very very safe. Their trading condition is just also very good.


rosetitan98

Sep 1 2020

I have been trading with BDSwiss for just over a year now and currently never had a problem with them at all only deposited small amounts at first and finally deposited a big amount but didn’t check the reviews of them till after I added it to my account. So after reading a few bad reviews about withdrawal problems which I have never had and been complete within 24hr it just made me think. Hopefully something they can work on.


Andrew Adam

Sep 1 2020

I can not rate them properly for what I experienced so far. Some reviews are good, but others are bad enough. Please improve withdrawal approval period. Thank you.


Tim B

Sep 1 2020

I think BDSwiss is an average broker. They often manipulated entries, SL, TP points. Sometimes the positions are closed without notice. The only good thing about them is their customer support.


Dominique D

Sep 1 2020

BDSwiss has higher spreads other than another broker which is upsetting. Heard their withdrawal process also difficult. There's plenty broker out there better than Bdswiss.


Benjamin Shille

Sep 1 2020

They do not have many bonuses, but there are a variety of tools and materials as a new trader. Swap free and Islamic accounts are available. BDSwiss offers trading on Webtrader, MT4, MT5, and mobile app.


Aisha Baker

Sep 1 2020

I have not heard much about this broker in Asia then I decided to give it a try. Fully regulated broker under CySec, FSC and NFA. Local deposit methods available in Asia. Account verification took less than 24 hours to complete. Spreads from 0 for Raw account, although a credit card is needed for the subscription fee. I have contacted their live chat service countless times and they are always quick to respond.


Bernard K

Sep 1 2020

I've been using this broker for some months ,it's the worse so far of all that I have used. I've made a withdrawal to skrill two days ago, which should be instant after they process it, and haven't received the withdrawal yet.


Olivia P

Sep 25 2020

Put money in now waited over 3 months and still no withdrawal. I'm not the only one waiting for this process to be done.


Bububaba93

Sep 1 2020

Reading all comments about BDSwiss withdrawal process really made me have a second thought. Is it really that bad? Also I think 2-5 days withdrawal is pretty common right?


Angel Kobastami

Sep 1 2020

My experience with BDSwiss was a very good one. I made a pretty good profit and NO REQUOTE!!! I recommend this broker.


Daniel M

Sep 1 2020

BDSwiss support system should have solved my problem quickly because of updating the deposit data (late to my trading account). Other than that, the withdrawal process took only 2 days max.


Ray Eyed

Sep 1 2020

I didn't face withdrawal problems like others ppl. The raw account is good but it should need less than 5k deposit minimum. A little bit expensive for me.


R. Hasan

Sep 1 2020

Not like most of users, I don’t have any problems with my withdrawal process. Withdrawal was sent to my account within 5 days of request.


Xavier A

Jul 22 2020

HotForex is great! Their service is good, the premium account spreads are better than other brokers, also their execution and server are stable from both web-trading and MT4. During 5 months of trading at HotForex, I have slipped a lot of times but it doesn't matter either, it can be an input for HotForex. Great!


Mariana

Jul 22 2020

Hotforex is great, not bad, though my trading is still on a demo account. I also like this broker because they've held some seminars in Indonesia. I joined them twice :)

Nice to see you, I'm from Indonesia.


Monica B

Jul 22 2020

As long as I trade on Hotforex broker, I found no problem. Their service is satisfying, highly recommended for beginners because the spread offered is interesting. Plus, the HotForex server is rarely down. Nice work!


Claudia

Jul 22 2020

Hi, I'm from Indonesia. HotForex provides deposit and withdrawal methods by Indonesian local banks, and it eases me a lot! Thank you!


Fechia Gaze

Jul 22 2020

HotForex is the best broker I've ever found! Their customer care is very nice, also their deposit and withdrawal process is quite good!


Laura Bay

Jul 22 2020

HotForex is getting more awesome day by day! They even invite one of the actors of GOT (Game of Thrones). I wish they can invite Sansa Stark one day *lol


No Need Name

Jul 22 2020

I've never got any merchandise from HotForex. I think it's because of my deposit number (FYI, I do only a little deposit). I choose HotForex just for comparing the market prices among other brokers I used (3 brokers).


S. Gabrielle

Jul 22 2020

I got merchandise from HotForex Loyalty Program. They give me a new shirt and hat xoxo. Thank you!


Start Trading

Open Real Account Open easyMarkets Real Account Open BDSwiss Real Account Open HotForex Real Account

 

Of course, other than those brokers, there are many other brokers that choose to be regulated in Seychelles. For more options, you can find them in the List of Forex Brokers in Seychelles.

 

Beware the Risks of Trading with an Offshore Forex Broker

As a trader, you need to do proper research about your offshore broker. Otherwise, you run a big risk of losing your money to a possible scam. This does not mean that all of the offshore forex brokers are bad. Some of these brokers chose to establish an offshore branch to allow higher leverage or accept clients from more countries.

If you do end up registering with a shady offshore broker, you should prioritize your main concern on these issues:

  1. The broker can just disappear.
  2. Unlicensed brokers can delete your trading account.
  3. Your earnings can be nullified by your broker, and you might lose all your profit.
  4. You may lose your deposit.

If you have been a victim of an offshore broker scam, you might be able to recover your deposit. A lot of companies do provide Forex-related service, such as fighting against forex broker scams. These companies might be able to assist you. Otherwise, you could always learn how to protect yourself from forex broker scams since the beginning.