Breakaway

Breakaway does not provide trading services to residents of several countries, including the United States, the United Kingdom, Russia, India, Pakistan, Panama, Ukraine, Afghanistan, Laos, and Sudan. The broker, registered with FinCEN as a Money Services Business (MSB) and incorporated in Saint Lucia, enforces these restrictions to comply with international regulatory standards. Consequently, clients must undergo standard identity and residency verification during the registration process.

No, Breakaway is not considered a fully regulated or legitimate retail forex broker because it lacks direct oversight from a major financial watchdog. Its Australian affiliate, Breakaway (Aust) Pty Ltd, holds an ASIC authorized representative registration (CAR No. 001311740) that only covers wholesale advisory services. The retail trading platform itself is run by Breakaway Ltd, registered in the offshore jurisdiction of Saint Lucia.

Breakaway takes up to three business days to process withdrawal requests. The broker officially only supports cryptocurrency withdrawals in USDT via the TRC20 network. Traders should also note that a processing fee applies to these transactions, which is typically calculated at a 1% rate.

Breakaway requires a minimum deposit of $10 to open a live trading account. This entry-level requirement applies to its Micro, Standard, and ECN account options. However, clients who wish to utilize the broker's copy trading services are subject to a higher minimum deposit threshold of $1,000.