Surprisingly, neither the US nor the UK doesn't make it into the list of top 10 countries to trade forex. Instead, offshore areas and the Middle Eastern are the forefront.

Thanks to technological advances, forex trading has been very developed. In the past, trading required a large initial deposit and calling a broker to enter or modify a transaction.

Now, everything can be done with just a few clicks from your smartphone. It doesn't take long, deposits and withdrawals are processed in a matter of hours.

So now, imagine if you can consistently profit from trading, which country is the best to live in? Each trader may have different choices.

The main assessment factor, in this case, is the absence of income tax and the following aspects:

  • Forex regulations
  • Daily living expenses
  • Criminal level
  • Internet speed
  • Level of health services
  • Number of leisure attractions
  • Road traffic density

Even though there are several countries that we will describe have high living costs, this consideration does not really matter because the income of professional forex traders is relatively much higher. Nonetheless, there are also some countries with a low cost of living which would be great choices for novice traders. Here are the orders:


10. Belize

Forex trading in Belize is overseen by an independent body under the Belize Ministry of Securities called the International Financial Service Commission (IFSC). As an offshore country, the advantages of brokers from Belize are high leverage and flexibility.

The drawback is that this country is often used as the location of origin for scam brokers and the negative balance protection feature is not mandatory.

Forex trading in Belize

This country, which is included in the Caribbean islands, is the second country with the easiest cost of living on this list. At the time of this writing, the cost of living in Belize is about 2518 Belize Dollars or about USD1239 per month.

Traffic density in Belize is also relatively sparse. The average time in traffic density is only about 20 minutes.

Nevertheless, Belize has a high crime rate. This risk has increased in the last three years with the many cases of corruption and bribery.

In terms of health services, Belize is still far from satisfactory. The lack of competent personnel and modern medical equipment are among the factors that need to be considered.


9. Malaysia

Forex trading in Malaysia is legal but recently, there have been a lot of gray areas. The regulatory body that oversees forex trading is the Securities Commission in Malaysia. If an unregulated broker performs illegal operations, the Securities Commission can only warn investors that the broker is unregulated.

Forex trading in Malaysia

Malaysia is the country with the cheapest monthly cost of living on this list, which is only around 4227RM or USD1018 per month. This country also has many interesting places for refreshing holidays, health services with competent and experienced medical personnel, as well as modern and sophisticated supporting equipment.

Unfortunately, this country has a fairly high crime rate. Especially in the last three years, criminal crimes have increased including theft, robbery, vandalism, corruption, and bribery.

In addition, this country has a high traffic density with an average waiting time of around 37 minutes.


8. Brunei

Forex trading in Brunei has not been clearly regulated. As long as it complies with Islamic rules, the broker can operate. However, this can carry the risk of scammers and shady brokers.

Forex trading in Brunei

Brunei has a low cost of living, only around 2310 B$ or around USD1703 per month. Brunei also has the best health services on this list, the staff is very competent and ready to serve, and skilled medical personnel is supported by complete and modern equipment resulting in high consumer satisfaction.

The crime rate in this country is quite low, but it has a very slow internet speed which is only around 33.94 Mbps.


7. Monaco

Forex trading in Monaco is overseen by the Commission for the Control of Financial Activities (CCAF). Trading in Monaco has the advantage that there are not many rules, but the disadvantage is that not all European brokers accept traders from this country.

As a country known for its casinos, luxury, and glamorous life, it is not surprising that the cost of living in this country is very high. The cost of living in Monaco comes to 10,075 Euros or around USD11,674 per month, the highest on this list.

Forex trading in Monaco

There are only a few tourist and recreational areas, so residents may find it difficult to find a work/life balance. Nonetheless, Monaco is a safe country with a low crime rate.

Health services in this country are also very qualified and satisfying. Another positive point is that the level of traffic density in Monaco is very low, even the lowest on this list. The average traffic wait time is only about 18 minutes. In addition, the average internet speed is also very high, around 242.9 Mbps.


6. Oman

Forex trading in Oman began to grow as regulations began to be relaxed. Forex trading in the country is overseen by the Capital Markets Authority and the Central Bank of Oman.

The advantage is, trading in Oman has a high-leverage offer and is very flexible. The drawback is that negative balance protection is not an obligation in this country.

Forex trading in Oman

In terms of living costs, Oman is cheap with a living cost of 591 Omani riyals or around USD1535 per month. The crime rate is the second lowest in this list, just after the United Arab Emirates (UAE).

Unfortunately, this country has a low health care system and internet speed. The average internet speed in this country is around 65.3 Mbps.


5. Belgium

Forex trading in Belgium is overseen by the Financial Services and Markets Authority (FSMA) which is part of the European Securities and markets Authority (ESMA). ESMA sets rules and local regulators like FSMA have to follow them.

Apart from having a good regulator, another advantage of forex trading in Belgium is the opportunity to get high leverage for professional traders.

Forex trading in Belgium

On the downside, you have to be a professional trader to trade forex, but the standard EU customer protection is not mandatory for professional traders. It means some brokers will revoke the negative balance protection feature for their professional traders.

The cost of living in Belgium is quite low, only around 1517 Euros or around USD1818 per month. The health care system in Belgium is very good and there are many tourist and recreational areas.

However, the crime rate in Belgium is quite high. Criminal crimes have continued to increase in the last three years.


4. Singapore

Forex trading in Singapore is overseen by the Monetary Authority of Singapore (MAS). This regulatory body is very strict and alert in seeing suspicious broker or investment activities in its territory.

MAS prohibits brokers from operating without its own regulation, protecting traders from fraud and fraudulent practices. Without regulation from MAS, the broker will be terminated immediately. You can expect stable and secure forex trading in this country.

Forex trading in Singapore

Singapore has a very high internet speed, around 262.2 Mbps, the second highest after New Zealand in this list. The crime rate is quite low and the health services in this country are very good. In terms of work/life balance, Singapore has many tourist and recreational spots.

Unfortunately, the cost of living in Singapore is quite high, around 5000 SGD or USD3708 per month. In addition, the traffic density in Singapore is quite high with an average traffic time of around 41 minutes.


3. United Arab Emirates (UAE)

Forex trading in the United Arab Emirates is a legal activity. The brokers are overseen by the UAE Federal Securities Commission Authority and Dubai Financial Services Authority (DFSA).

Professional traders in Dubai have high-leverage options but non-professionals can only trade with low leverage. This is enforced to reduce the risk to non-professional traders.

The cost of living in the UAE is quite high, around 9618 UAE dirhams or around USD2618 per month. The traffic density is also quite high with an average time spent on the road reaching 36 minutes.

Forex trading in United Arab Emirates

However, in terms of the crime rate, the UAE's is the lowest on this list. Residents can safely walk during the day and night. Internet speed is also quite good, reaching 195.11 Mbps.

Health services in Dubai are top-notch, not to mention the many tourist or recreational places that can be visited.


2. New Zealand

Forex trading in New Zealand is legal and supervised by the Financial Markets Authority (FMA). If a broker does not meet the requirements set forth by the FMA, the regulator can revoke and cancel the license, impose fines, and impose other penalties.

It is these requirements that will protect traders and give them a sense of security when trading with New Zealand-regulated brokers. Unfortunately, negative balance protection is not mandatory.

Forex trading in New Zealand

The cost of living in New Zealand is quite high around NZD3696 or USD2657 per month. The crime rate is fairly high, but they have a commendable internet connection, even the fastest on this list which reaches 264.16 Mbps. So, you don't have to worry about slow internet when executing orders or analyzing the market.

New Zealand's health care system is very good, there are many tourist and recreational places that you can visit.


1. Switzerland

Forex trading in Switzerland is hailed as the best one on this list because the country has a strict regulatory body that will protect traders. The regulator is called the Financial Market Supervisory Authority (FINMA) and all brokers operating in Switzerland must have a license from this regulator.

Forex trading in Swiss

In terms of living costs, Switzerland has a high cost of living, around 3500 CHF or USD3833 per month. However, the healthcare system in this country is satisfactory and provides some of the best experts in the medical industry.

The crime rate is also quite low and the internet speed is very high; around 222Mbps. There are many choices of tourist and recreational places that you can enjoy in this country, so you can set a good work/life balance.


Some countries mentioned in the abovementioned list are offshore. Did you know that many people have concerns with offshore areas when it comes to trading regulation? To settle the matter, you might want to read Trading in an Offshore Broker: Pros and Cons.