5 Best No KYC Forex Brokers Without ID Verification 2025

Trading with a Forex Broker that requires identity verification has many limitations. However, traders who prefer to stay anonymous often choose unregulated no-KYC (Know Your Customer) Forex brokers, as they do not require them to provide sensitive personal information. 

Here’s our well-crafted list of the best no-KYC Forex Brokers from our analysis at WR Trading:

1. Pocket Option

Pocket Option was founded in 2017 under the Gembell Ltd Group. Their competitive forex offers and fixed-time binary options contracts, ranging from thirty seconds to four hours, are some of the most competitive among brokers, making them the winner in our comparison. 

With the ability to deposit and withdraw funds without KYC verification, Pocket Option offers unparalleled convenience and privacy for its users. Since its launch, the platform has scaled massively and, as of 2019, has recorded a user base of over 10 million user accounts, with over 100,000 active users.

Pocket Options offers forex trading from 0.7 pips spreads without commissions via the MT4/MT5 and a variety of binary options contracts from the stock, forex, indices, commodity, and cryptocurrency markets. The platform provides 36 stock assets, including Google, Netflix, and Apple. We’ve also observed that users get 49 currency pairs in the currency market, including 9 GBP pairs. 

Our estimation revealed that traders can also choose from 24 indices, such as the FTSE 100 and the S&P 500, and 17 commodities, including popular choices like gold, silver, and Brent Crude Oil. There are also ten cryptocurrency options, with pairs such as BTC/GBP and BCH/GBP.

The Pocket Option platform may not be the most advanced in terms of the number of built-in indicators for technical analysis. However, we find it relatively user-friendly and easy to start. The platform also has a quick-trading feature that allows you to select from a list of markets and assets.

Facts about Pocket Option:

Feature	Information
Payout	24/7 live chat and email support
Assets	Cryptocurrencies, Forex, Commodities, Indices
Leverage	Up to 100x on cryptocurrencies, up to 1000x on forex
Trading Types	Spot trading, Margin trading, Binary trading, Copy trading
User Interface	Advanced, user-friendly, customisable
Trading Platform	Web-based platform, Mobile app for iOS and Android, MetaTrader 4, MetaTrader 5
Minimum Deposit	$5
Deposit Methods	Credit/Debit cards, Cryptocurrencies, Bank transfer, electronic wallets
Withdrawal Methods	Credit/Debit cards, Cryptocurrencies, Bank transfer, electronic wallets
Security	Two-factor authentication (2FA), cold storage for funds
KYC Requirement	No (no specific rules)
Customer Support	24/7 live chat, Email support

2. Coinexx

Coinexx is a forex and CFD broker registered in Saint Vincent and the Grenadines. It ranks as our second pick for No-KYC trading and high-leverage trading, offering leverage of up to 1:500 and access to a broad range of commonly traded financial instruments.

Coinexx is a crypto-focused broker that caters to traders who value privacy and flexibility. The broker supports 100% crypto-based funding and withdrawals, making it ideal for users who prefer to trade without traditional banking intermediaries or KYC requirements.

The broker offers a comprehensive range of tradable assets, including over 60 forex pairs, cryptocurrencies, major global indices, precious metals, and commodities. Coinexx also provides access to US and European stocks through CFD trading.

All instruments on Coinexx are accessible via the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms support robust tools, including Expert Advisors (EAs) for automated trading, custom indicators, and comprehensive charting capabilities. Coinexx supports desktop, web-based, and mobile versions of MT4 and MT5, offering seamless trading across devices.

Facts about Coinexx:

Feature	Information
Trading Instruments	Forex, Cryptocurrencies, Stocks, Indices, Commodities
Leverage	Up to 1:500
Minimum Deposit	$10
Account Types	Zero Commission Account, Eco Account, Islamic Account
Fees	Zero Commission Trading, Tight Spreads, Overnight Financing Fees
KYC Requirement	None
Social Trading	Not available
Copy Trading	Not available
Demo Account	Available
Payment Methods	Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Credit/Debit Cards, Bank Wire Transfer, Skrill
Customer Support	24/7 Live Chat, Email Support
Mobile App	Not available
Trading Platforms	MetaTrader 4
Payout	Depends on the trading instrument and market conditions

3. LHFX

At WR Trading, LHFX is our third-best no-KYC broker because it operates as an STP (Straight-Through Processing) and ECN (Electronic Communication Network) broker, offering traders access to the Forex and CFD markets. The company was established in 2020 in Saint Vincent and the Grenadines. 

We were impressed with its provision of over 60 individual stocks and 11 significant indices, over 55 forex pairs and more than 35 cryptocurrency pairs. A limited selection of commodities is also available, and we found that you can trade all instruments as CFDs. 

From our observation, the platform includes exotic currency pairs, and the wide range of digital currencies allows trading various coins, including Ethereum, Bitcoin, and Litecoin. 

One notable feature of LHFX is its adoption of Bitcoin as its users’ primary deposit method. This means that while Bitcoin is the preferred currency for funding trading accounts, the accounts are maintained in US dollars. Consequently, deposits in Bitcoin are converted to USD. Unfortunately, the broker has not provided specific information about the conversion process, including the exchange rate applied or associated fees.

LHFX also joins our list of brokers, which provides users access to the award-winning MetaTrader 4 platform. Experienced users of MT4 tend to appreciate its advanced features, including various built-in technical indicators, comprehensive backtesting capabilities, charting tools, and Advisors. MT4 is available for download on Windows and mobile devices.

Facts about LHFX:

Feature	Information
Leverage	Up to 1:500 for Forex, up to 1:100 for Cryptocurrencies, Indices, and Commodities
Account Types	Standard Trading Account
Minimum Deposit	$10 or equivalent in BTC
Deposit Methods	Bitcoin (BTC)
Withdrawal Methods	Bitcoin (BTC)
Demo Account	Yes, available
Customer Support	24/7 via live chat and email
KYC Requirement	No
Payout	High leverage provides for potentially high returns, but also a higher risk.
Spreads	Variable spreads
Commission	$6 per lot traded
Mobile Trading	High leverage provides for potentially high returns, but also a higher risk
Copy Trading	Not available
Security	2FA (Two-Factor Authentication), SSL encryption
Additional Features	High leverage, ability to trade multiple asset classes, Bitcoin as the base currency, MT4 integration

4. PrimeXBT

PrimeXBT is a crypto trading platform registered in Seychelles that launched in 2018. It offers traders access to crypto assets and traditional markets and assets. PrimeXBT is 4th second winner at WR Trading in this comparison because it has grown into a significant derivative with over $375 million daily trading volume.

While we can’t classify PrimeXBT as a cryptocurrency exchange, the platform allows traders to trade the forex market and CFDs on commodities such as gold, energies, and indices. The platform is also suitable for experienced traders, who can access a wide range of trading features, including tools for advanced technical analysis and customisable charts.

PrimeXBT has excellent leverage, up to 200:1 for crypto pairs. We estimated it could even go as high as 1,000:1 in forex markets. It also allows traders to reduce leverage limits if they have a higher exposure to the market. 

In 2020, PrimeXBT launched its Covesting Copy Trading Platform to the public. We discovered that they partnered with Europe-based fintech software developer Covesting to create this trading platform, which enables users to instantly copy the trading actions of different strategies provided by other traders and achieve the same returns as the top traders on the platform.

Facts about PrimeXBT:

Feature	Information
Trading Instruments	Cryptocurrencies, Forex, Commodities, Indices
Leverage	Up to 100x for cryptocurrencies, 1000x for Forex
Trading Fees	Varies by instrument; generally 0.05% for cryptocurrencies
Copy Trading	Available through the Covesting module
User Interface	User-friendly with advanced trading tools and charts
Security	2FA, cold storage for funds, encryption protocols
Deposit Methods	Bitcoin and more cryptocurrencies, Credit Card (via third-party services), local bank transfers
Withdrawal Methods	Bitcoin and more cryptocurrencies, Credit Card (via third-party services), local bank transfers
Minimum Deposit	0.001 BTC
Mobile App	Available on both iOS and Android
Customer Support	24/7 live chat and email support
KYC Requirement	No, up to $20,000 deposit
Payout	Profit potential varies by trading performance and leverage used
Platform Reliability	High-speed order execution, 99.9% uptime
Additional Features	Referral program, advanced order types (stop loss, take profit, etc.)

5. Hankotrade

Hankotrade is a forex and CFD broker established in 2019 and registered in an offshore jurisdiction that allows trading without KYC. Operating without government oversight, Hankotrade can provide more flexible trading conditions, including access to significantly higher leverage, which appeals to experienced traders seeking fewer restrictions.

On the Hankotrade platform, traders can access leverage of up to 1:500 on major forex pairs and 1:100 on cryptocurrency CFDs. While 1:500 is common among high-leverage brokers, 1:100 for crypto trading is notably aggressive given the asset class’s volatility.

Ranked as our third top choice among brokers with no KYC requirements, Hankotrade offers a broad selection of tradable assets. These include a wide range of forex pairs, cryptocurrency CFDs, precious metals, crude oil, natural gas, major stock indices, and over 60 popular equities—all traded via leveraged contracts-for-difference (CFDs).

Unfortunately, Hankotrade only supports a webtrader platform, which is why we chose this broker as our last place in the comparison.

Facts about Hankotrade:

Feature	Information
KYC Requirement	None
Trading platforms	Proprietary HankoX (browser-based)
Account types	Standard account
Minimum Deposit	$10
Maximum leverage	1:500
Spread	Variable, starting from 0.1 pips
Commission	$6 per lot round turn
Funding methods	$6 per lot round trip
Withdrawal Methods	Crypto only; minimum withdrawal $50; usually processed within 1–3 business days
Payout Speed	Deposits instant; withdrawals up to 3–5 business days
Tradable Assets	Forex, Commodities, Indices, Cryptocurrencies
Number of Forex Pairs	Over 55
Customer Support	24/7 Live Chat, Email
Trading Tools	Economic Calendar, Market News, Technical Analysis Tools
Bonus and Promotions	No regular bonuses or promotions
Copy Trading	Yes, via third-party services
Demo Account	Yes, unlimited usage
Mobile Trading	Mobile App
Security Measures	SSL encryption, 2FA (Two-Factor Authentication)
Market Execution	Yes, with average execution speeds of under 200ms

What Are The Risks Of Trading Without Verification?

Whenever traders register without KYC brokers or trade without ID verification, they expose themselves to risks, such as broker and frozen account scams. It is essential to be fully aware of these risks before proceeding.

1. Scam Brokers

Scammers who often want to rip unsuspecting traders out of their money usually pose as no KYC Forex brokers (brokers who don’t require verification) because it helps them avoid legal issues with regulatory bodies, which look into brokerage activities to ensure standardisation. This no-verification approach is also attractive to traders who want to avoid the stress of the verification process altogether.

2. Frozen Accounts

For several reasons ranging from a change of internal policies to regulatory concerns, no-verification platforms can freeze funds, leaving the trader with little to no support to mitigate the issue. 

3. No Legal Way to Get Money Back

In a case where there is fraudulent activity with no ID verification brokers, Regulatory bodies, which are the bodies through which the Government cracks down on criminal financial activities, can not pursue a financial recourse. This is because the funds in the portfolio of the scam brokerage can not be recognised by a court as owned by legally accepted entities.

4. Regulators can shut Down Brokers

Periodically, financial bodies and regulators make the rounds to limit and shut down illegally operating brokerages, many of which exist under the guise of no ID verification brokers.

5. Poor Customer Service

Typically, brokers who conduct ID verification establish client support communication during the verification process and maintain that relationship for as long as necessary. So, no ID verification can be a tell-tale sign of poor customer service.

What Are The Reasons For Trading Without KYC?

Here are some reasons why to trade without KYC:

• Anonymity
• Efficiency
• Sovereignty
• Accessibility
• Security Risks

Anonymity and privacy

No-KYC exchanges enable users to preserve their privacy and minimise the risk of compromised personal financial information. Transactions remain confidential, allowing users to trade without disclosing their identity. This degree of privacy appeals to individuals who value anonymity in their economic activities.

Efficiency and accessibility 

No-KYC exchanges simplify the trading process. Without the requirement for identity verification, users can begin trading almost immediately after account creation. We observed that this streamlined approach is faster and more convenient for traders, particularly those prioritising quick and efficient transactions without the burden of lengthy verification processes.

Enhanced Financial Sovereignty 

Without KYC requirements, users maintain control over their financial information, managing their crypto assets independently without third-party interference or surveillance. In our opinion, this aligns with the decentralised ethos of cryptocurrencies, granting users greater control over their funds and transactions.

Global Accessibility

No-KYC exchanges often serve a worldwide audience, providing access to individuals who might struggle with traditional financial institutions or live in regions with stringent regulatory environments. This enhanced accessibility is especially beneficial for users looking to engage in the cryptocurrency market without geographical constraints.

Reduced Security Risks

We found that no-KYC exchanges reduce the risk of data compromise by not requiring users to submit personal information. These platforms inherently limit the amount of sensitive information stored, minimising the potential impact of data breaches or hacking attempts.

Can non-KYC brokers provide an equal security level as those that require KYC?

Yes, they can. However, please note that brokers have different reasons for requiring KYC. Some aim to protect against fraud and money laundering, while others use it to attract serious traders.

Despite this, non-KYC brokers can still provide robust security through measures like two-factor authentication and encryption technology. Ultimately, we suggest you evaluate the pros and cons of using a non-KYC broker and determine the balance of privacy and security that best suits your trading requirements.

How to use a No ID Verification Unregulated Broker:

Trading with a no ID verification broker is relatively straightforward. You only need to sign up, deposit funds, and start trading. We break these steps down into more detail below.

1. Sign up

To sign up for a no-ID verification broker, follow these steps:

• Go to the broker’s website and click “Sign up” or “Create an account.”
• Enter your personal information, such as your name and email address
• Choose a username and password
• Agree to the terms and conditions
• Click on “Submit” to complete the registration process

Note: The specific requirements may vary depending on the broker.

2. Deposit

To deposit funds into your account:

• Log in to your account on the broker’s website or mobile app
• Click on “Deposit” or “Fund my account.”
• Choose your preferred payment method (e.g. credit/debit card, e-wallet, bank transfer)
• Enter the amount you want to deposit (remember to use only small amounts)
• Confirm the transaction

3. Trade

To start trading:

• Log in to your account on the broker’s website or mobile app
• Click on “Trade” or “Start trading.”
• Choose the asset you want to trade (e.g. stocks, forex, cryptocurrencies)
• Set your desired investment amount and other parameters (e.g. stop-loss, take-profit)
• Confirm your trade

Can traders legally use a non-KYC forex broker?

Yes, it is in most parts of the world. Some brokers might operate without KYC, but this practice isn’t legal in all regions, like the USA. We advise investigating and understanding your country’s laws and regulations before opting for a non-KYC broker.

Moreover, the risks associated with such brokers should be considered against the benefits of enhanced privacy. Ultimately, your trader is responsible for making an informed decision based on your specific situation and priorities.

Are No KYC Brokers regulated or offshore?

It depends. No KYC forex broker can be regulated or unregulated. When they are regulated, it is usually a light regulation (Tier 3) in offshore countries like Seychelles, Costa Rica, or St. Vincent And The Grenadines. We discovered that while some may be regulated, others may not be. In the same way, many KYC brokers are unregulated. Some only let you deposit without KYC but require ID verification for withdrawal.

Some KYC brokers claim to be regulated by reputable financial authorities, such as the UK’s Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC). However, this does not necessarily mean they fully comply with KYC and anti-money laundering (AML) regulations.

Others may be registered in jurisdictions with more lenient regulatory environments, allowing them to operate with fewer restrictions (offshore). In some cases, KYC brokers may not be regulated, which can increase the risk of fraudulent activities.

Approaching no KYC brokers cautiously and thoroughly researching their regulatory status, reputation, and user reviews before engaging in any trading activities is essential.

How do non-KYC brokers comply with anti-money laundering regulations?

Non-KYC brokers comply with AML guidelines by adopting alternative methods to traditional KYC. These alternatives might involve advanced fraud detection software or other identity verification techniques that do not initially require customers to disclose personal information. Software that requires a regular KYC verification later, even if it’s a no-KYC Forex broker, can detect fraudulent activities automatically.

Why do most brokers require KYC and ID verification?

Here are four general reasons why brokers require KYC:

To Comply with Suitability Laws

FINRA suitability rules and SRO regulations require that when a broker suggests that a customer purchase or sell a specific security, the broker must have a valid reason to believe that the recommendation suits the customer.

To Comply with Record-Keeping Regulations

SEC rules require brokers to keep records for each customer account, including personal details like names, addresses, dates of birth, and government IDs. To meet these requirements and prevent fraud, brokers use online tools to verify addresses and ensure clients provide accurate information.

To Prevent Potentially Financing Harmful Causes

Money launderers often use banks and financial institutions to move illegal funds across borders, including for harmful causes like terrorist activities. Brokers are usually a common target for these activities, so many countries mandate them to follow Counter Financing of Terrorism (CFT) rules.

To Combat Identity Theft and Fraud

Criminals often use stolen identities to open illicit accounts at financial institutions. KYC and AML regulations prevent risks associated with diverse clientele, identifying potential identity theft and money laundering early on.

Should you report transactions from non-KYC brokers on your tax return?

Yes, you should. Even if your broker doesn’t require KYC, we advise you to report any capital gains, losses, and income from your investments on your taxes, as it’s still your legal obligation. Tax evasion is a serious crime with severe penalties in many countries, like the US, where tax fraudsters could face up to 5 years in prison and a $100,000 fine.

Once 1099-DA reporting requirements are implemented, the government will likely be able to track your previously unreported transactions.

Furthermore, failing to report transactions from non-KYC brokers can create problems if you use multiple wallets. Imagine this scenario:

• Larry has USD in his Forex trading account.
• Larry trades half of his USD for EUR on a non-KYC forex broker.
• Larry transfers his USD and EUR to a regulated forex broker.

If Larry decides not to report his trades from the non-KYC forex broker, he will now have EUR in his regulated broker account with no cost basis or explanation of how he acquired it.

Conclusion: KYC Forex Trading Brokers Are Available, But Riskier

So, if you’re considering using one, we’ve shown you the best forex brokers that don’t require KYC verification. While trading with these brokers can have perks, knowing the potential risks is crucial. At WR Trading, we advise that you thoroughly research and confirm that the broker has a solid reputation in the industry before making a choice. The right trading broker saves costs and ensures quick order execution.

While privacy is necessary, we believe it’s equally vital to safeguard yourself from potential scams or fraud in financial transactions. By carefully considering your options and doing your homework, you can find a non-KYC forex broker that suits your needs and helps you achieve your trading goals while maintaining your privacy.