List of Best Unregulated Forex Brokers for US Clients in 2024
Why Choose an Unregulated Forex Broker?
US traders select unregulated forex brokers for high leverage and flexible trading options not found under US regulations. Advanced strategies like scalping are allowed, and cryptocurrencies are traded. This comes with tax implications, as profits are taxed as ordinary income at higher rates than capital gains.
xChief
Trading Platforms and Features
xChief offers MetaTrader 4 and MetaTrader 5 with advanced charting, indicators, and automated trading options. The broker also has its own app for seamless account management.
Leverage, Spreads and Commissions
Up to 1:1000 leverage is available at xChief. Different account options offer varying spreads starting from 0 pips and commissions ranging from free to $6 per side per lot.
Deposit and Withdrawal Options
xChief supports multiple deposit and withdrawal methods, including bank transfers, cards, e-wallets, and cryptocurrencies.
Pros and Cons
Pros: xChief offers accessibility, high leverage, and supports MT4 and MT5.
Cons: VFSC regulation might be seen as less strict, platform instability reported, and restricted withdrawal conditions with active bonuses.
Overall Impression
xChief provides accessible trading conditions and platforms but extra care is needed due to regulatory environment and reported operational challenges.
PlexyTrade
Trading Platforms and Key Features
PlexyTrade offers MetaTrader 4 and MetaTrader 5, providing advanced charting and automated trading options. Available on desktop, web, and mobile devices.
Leverage, Spreads, and Commissions
PlexyTrade offers leverage up to 2000:1, competitive spreads, and low commissions, making it attractive to traders looking to save on trading costs.
Funding and Withdrawals
Deposits and withdrawals at PlexyTrade are mainly through cryptocurrencies, ensuring fast transactions.
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Source : coinfomania.com