It has been known among internet users that sometimes they need the help of a device such as a VPN (Virtual Private Network) or Proxy to access certain sites. For forex traders, this situation creates a dilemma because not all brokers reportedly allow forex trading with VPN or Proxy. In fact, some brokers cancel traders' profits if they are caught trading with a VPN.
So, can we actually trade forex with a VPN? Do brokers allow or prohibit the use of VPN?
To answer these questions, our team sent a simple survey regarding the use of VPN to 10 popular international forex brokers. Some of them refused to answer or did not respond but some were willing to respond anonymously.
Forex Brokers Allow Forex Trading with VPN, but Mind the Terms
A total of four (4) brokers stated that they allow the use of VPN or Proxy for forex trading and accessing the client area. They expressly stated that even if access to their site is blocked, traders can still open an account or withdraw funds using a VPN or Proxy.
"Why not allow it!? After all, it is not prohibited by any international law," replied a representative of broker A.
Broker B's source added that traders who register using VPN will be asked for confirmation by the back office to clarify their IP. So if you do use a VPN, just clarify what it is and it won't be a problem.
Broker C's source also said the same thing regarding registration, "The most important thing for us is that the ID entered is accurate."
Meanwhile, broker D said that they allow clients to access their sites via VPN or Proxy during domain changes due to restrictions in certain countries.
Apart from the brokers above, two brokers declined to comment while three did not provide any form of response since the survey was sent. It's interesting to note that in practice, several of them are known to have prohibited the use of VPNs for forex trading. They routinely offer alternative pages with changing URLs so that traders from restricted areas can always access their sites without VPN or Proxy.
From this survey, it can be concluded that forex brokers' policies regarding trading with VPN or Proxy vary. There are brokers who allow it while others prefer to prohibit it.
For further information, you should communicate directly with your broker's support or account manager regarding this VPN issue.
See also:
It's the Site That's Blocked, Not the Server
One of the common concerns among worldwide traders is: If their brokers are suddenly blocked by authorities, will they still be able to trade forex?
Well, you actually don't need to worry about it.
Directly or indirectly, all brokers imply that even though their site is blocked, traders can still carry out forex trading activities via MetaTrader or other platforms without using a VPN or Proxy. This applies to all brokers, whether they allow VPN or not.
| If the broker website is blocked... | |
| Access will be restricted | yes |
| Traders can register with VPN | only in certain brokers |
| Traders can withdraw funds with VPN | only in certain brokers |
| Traders can execute orders on trading platforms with VPN | yes |
| Alternative domain is available | only in certain brokers |
One broker in this survey specifically referred to the fact that it was the site that was blocked, not the platform server. Even if the platform server is blocked, the broker will immediately attempt to seek the best solution as soon as possible.
Another source added that trading on softwares and app devices can still be done without a VPN even if your broker's blocked. But if you use webtrader, then VPN or Proxy is still a necessity until the broker sets up a new domain.