Best Brokers For Expats In 2024

Why We Chose It

With thousands of global markets, 24/5 support, flexible funding through 10 base currencies, plus tax-efficient products like SIPPs and ISAs, CMC Markets is a cut above the rest for expat traders.

CMC Markets is also one of the most trusted brands, with 5 ‘green tier’ licenses based on our Regulation & Trust Rating, plus a track record stretching back to 1989. Additionally, it’s publicly listed on the London Stock Exchange (LSE), cementing its credibility.

And it isn’t just us that love CMC Markets – over 1 million global traders have signed up with this highly trusted broker since it launched in 1989.

Pros

• With 12,000+ markets including 300+ forex pairs, share baskets and custom indices, expats can build a diverse portfolio. ISAs and SIPPs also offer long-term growth opportunities and encourage disciplined investing, which may benefit expats with fluctuating incomes.
• Funding is convenient for expat traders, with 10 base currencies, including USD, EUR and SGD, plus leading global e-wallets like PayPal. Testing also reveals a competitive 0.5% charge to convert currencies.
• The 24/5 support is among the best I’ve seen, with fast response times averaging under 5 minutes during testing. Additionally, there’s a range of local phone numbers and an in-platform chat, making it straightforward for global traders to resolve issues.

Cons

• Despite offering help in multiple languages, support is only available 24/5, trailing brokers like IC Markets which is available around the clock for international traders.
• CMC Markets’ zero-pip spreads on key assets are only available to ‘FX Active’ account holders, so beginners and low-volume traders may miss out on the tightest spreads.
• Although CMC supports a strong selection of funding options, the lack of Skrill and Neteller – which are popular for overseas transfers – is a drawback, especially compared to alternatives like Pepperstone.

Why We Chose It

IG offers an award-winning package for expats, with its intuitive trading app covering a nearly unbeatable range of 17,000+ instruments and best-in-class research tools spanning every major country and market.

IG is also one of the few brokers with long-term investment opportunities alongside short-term products, catering to various trading styles.

Pros

• IG offers trading opportunities to suit all requirements, including stocks and shares ISAs, SIPP accounts, CFDs and spread betting. You can also access weekend trading hours on a range of global markets, so expats can find opportunities around the clock.
• IG delivers the best research tools that I’ve used, including world-leading news sources covering analysis on key markets and regions, for example, oil prices in OPEC countries.
• The firm has been around for 50 years, upholding an unmatched reputation backed by multiple regulatory licenses and a public listing on the London Stock Exchange (LSE).

Cons

• Although IG offers a strong range of payment methods, minimum deposits are on the high side of average at $250. Additionally, deposit fees may apply for some methods depending on your location.
• Despite robust regulatory protections in most jurisdictions, IG does not segregate client money or provide negative balance protection through its US entity, reducing the level of investor protection.
• Whilst the $12 inactivity fee doesn’t kick in for two years, it’s worth being aware of if you move countries and forget to close your trading account. In contrast, Pepperstone does not charge an inactivity fee.

Why We Chose It

Pepperstone secured a top spot in our 2023 annual awards for ‘Best Overall Broker’ for its superior charting tools and diverse selection of markets.

Expats also enjoy easy account funding with 10 convenient base currencies and a superb selection of popular payment methods, notably free international bank transfers.

Pros

• Pepperstone serves clients in over 160 countries, offering support 24/5 plus 18 hours at the weekend. It’s also one of the most trusted brands, with licenses from respected authorities like the FCA and ASIC.
• Expats can easily fund their accounts with a diverse selection of payment methods including PayPal, UnionPay and BPay. And with 10 base currencies, many traders will be able to swerve conversion fees.
• Pepperstone offers all the best third-party charting platforms in the industry (MT4, MT5, cTrader and TradingView) plus superior tools for expats, notably an economic calendar with an intuitive country filter that I enjoy using.

Cons

• Despite offering advanced tools, Pepperstone doesn’t provide any social trading platforms for clients looking to connect with other global traders, a drawback compared to alternative AvaTrade.
• Pepperstone’s crypto offering is relatively small compared to brands like CMC Markets, which may be a drawback for expats looking to diversify into increasingly popular, though high-risk digital currencies.
• Unlike IG, clients outside of the UK and EEA don’t get access to any compensation if the broker goes insolvent, reducing the level of safeguards.

Why We Chose It

FOREX.com continues to offer the full package for expat traders, with its first-rate charting and research tools, a diverse range of international markets and superior funding capabilities for expats.

It’s also one of the most recognizable and trusted trading brands in the world, with a long history, a stock exchange listing, and multiple regulatory licenses ensuring a robust trading environment wherever you’re based.

Pros

• FOREX.com makes it easy for expats to fund trading accounts, with popular methods including ACH transfer and Skrill, alongside 8 base currencies. There’s also a reasonable +/- 0.5% conversion fee if you are trading with a currency other than your base.
• International traders can access thousands of diverse markets, including asset classes not commonly found at alternatives, like bonds, options and interest rates.
• FOREX.com’s reputation is hard to beat thanks to its 25-year track record and its NASDAQ-listed parent company, StoneX. The majority of its licenses also hold ‘green tier’ status, ensuring the strongest protections for global traders.

Cons

• Despite offering a strong range of payment methods for expats, it still lacks popular regional solutions like UnionPay or BPay to compete with top alternatives, notably Pepperstone.
• Although FOREX.com offers a reliable 24/5 chat service, there are not as many local telephone numbers for expats who prefer direct communication, especially compared to our top-ranking expat broker – CMC Markets.
• Unlike other brands in this list, notably IG, FOREX.com doesn’t offer tax-efficient trading opportunities for expats seeking products like SIPPs or stocks and shares ISAs.

Why We Chose It

AvaTrade has a lot to offer expatriates, especially aspiring traders looking for an extremely user-friendly platform, bespoke risk management tools, plus some of the best localized telephone support I’ve seen.

AvaTrade also distinguishes itself through its diverse payment methods, including digital solutions that aren’t available at most alternatives.

Pros

• AvaTrade continues to uphold its robust, global presence, with regulation across 9 jurisdictions including the UK, Canada and Australia. It’s also one of the only brokers to offer a custom risk management tool, AvaProtect, which insures losses up to $1 million.
• AvaTrade has among the best customer support I dealt with during testing, with dozens of local telephone numbers, alongside help via live chat, email and WhatsApp, all available 24/5.
• There’s an excellent range of global markets for international traders, covering less common opportunities like bonds, treasuries and agricultural commodities. The broker’s latest offering, AvaFutures, also covers an additional 35 markets and caters to a range of strategies.

Cons

• While there are no commissions, pricing at AvaTrade is not as competitive as other expat brokers, notably Pepperstone. For example, spreads are fixed at 0.9 pips for EUR/USD, while leading ECN brokers offer raw spreads from 0.0 pips.
• Despite a diverse array of asset classes to day trade, there are limited long-term investment opportunities for expats and limited tax-efficient products like ISAs or SIPPs, both available at CMC Markets.
• Although AvaTrade offers an impressive range of convenient payment methods, the narrower selection of base currencies means it trails firms like IG with its 12 currencies. Notably, JPY, SGD and CHF accounts may be missed by many expats.