To help you find one of the top forex brokers in Europe, we have scoured the market and tested every broker we could find to create this hands-on guide for you.
If you’re looking to start trading forex, we can help you find the best broker for you.
In This Guide
Which Are the Best Forex Brokers in Europe?
- Best Forex Trading Platform: Forex.com
- Best Forex Platform for Automated Trading: AvaTrade
- Best Forex Broker with the Lowest Fees: CMC Markets
- Reliable CFD Forex Broker: Plus500
- Best Forex Platform for Advanced Traders: Forex.com
Which is the Best Forex Platform in Europe?
Forex.com is a top forex broker with a great reputation, 80+ currency pairs, and a selection of trading platforms suitable for any and every trader.
Even though this broker offers other assets as well – mainly CFDs – what sets them apart from their competitors is their fantastic forex trading service.
✔ Offers MT4 and an Advanced Platform
✔ Unparalleled forex service
✔ Poor selection of CFDs
✔ Long processing times for certain withdrawals
✔ Offers MT4 and an Advanced Platform
✔ Unparalleled forex service
✗ Poor selection of CFDs
✗ Long processing times for certain withdrawals
Fees: Commission-free forex trading
Demo Account: Yes
Min. Deposit: $100
Assets: 300 assets, including 80+ FX pairs.
License: FCA, CySEC, etc.
Forex.com is an experienced actor in the forex industry and they have offered online forex trading for many years to a lot of customers. What makes them the best forex platform in Europe, however, is the cutting-edge platforms offered and the large selection of currency pairs to trade.
This broker is owned and operated by Gain Capital – an online trading company that also runs the highly-successful CFD trading broker, City Index.
Which is the Best Forex Platform for Automated Trading in Europe?
AvaTrade represents the top tier of online brokers.
With a combination of their own software and third-party platforms, you'll gain access to some of the best trading services and features.
✔ Easily integrated trading robots
✔ Commission-free trading
✔ A limited selection of assets
✔ Rather high spread on certain assets
✔ Easily integrated trading robots
✔ Commission-free trading
✗ A limited selection of assets
✗ Rather high spread on certain assets
Fees: 0% commission but spread on each trade
Demo Account: Yes
Min Deposit: £100
Deposit Options: Debit & Credit Cards, Skrill, Neteller, Webmoney
Assets: 1,000 assets
License: Central Bank of Ireland, ASIC, FSCA, FSA
AvaTrade is an interesting online broker in many ways. For example, it’s the only broker licensed and regulated by the Central Bank of Ireland. It also happens to be one of the best forex platforms for automated trading since AvaTrade has put huge amounts of effort into developing great trading robots.
This broker is extremely versatile and runs just as smoothly on a desktop computer as a mobile device. So, if automated forex trading is your jam, we suggest you read up about AvaTrade.
Who has the Best Forex Broker Fees in Europe?
CMC Markets is a global trading service based in the UK but with customers and offices all around the globe.
A combination of great trading tools, tons of assets, and long experience in the industry make CMC Markets an excellent choice for most traders.
✔ Huge selection of assets
✔ Well-established broker
✔ Top-notch trading platform
✔ Complicated registration
✔ High spread on stocks
✔ Fees on many transactions
✔ Huge selection of assets
✔ Well-established broker
✔ Top-notch trading platform
✗ Complicated registration
✗ High spread on stocks
✗ Fees on many transactions
Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC
CMC Markets is a multi-asset broker that offers forex trading among other things, such as 10,000+ stocks.
What makes CMC Markets unique, compared to several of their competitors, is that they’ve managed to keep their fees and spread quite low. In turn, that crowns them as the best for forex broker fees for Europeans.
Please keep in mind that spreads aren’t fixed, meaning they can change from trade to trade. Therefore, it’s difficult to determine which broker is actually the cheapest. Although, with a CMC Markets account, you can expect to always be offered fair and honest fees.
Which is the One of the Most Reliable CFD Forex Brokers?
When you trade with Plus500's app, you will be using the highest-ranked trading app for both Android and iOS.
You will also gain access to some of the world's best mobile trading features and a great selection of asset classes.
✔ Easy to use mobile software
✔ Competitive spread
✔ Top rated in both app stores
✔ Limited monthly transactions
✔ Only 2,200 CFD assets on offer
✔ Easy to use mobile software
✔ Competitive spread
✔ Top rated in both app stores
✗ Limited monthly transactions
✗ Only 2,200 CFD assets on offer
Fees: Overnight Funding, Currency Conversion Fee and Inactivity fee (read more about Plus500 fees here)
Demo Account: Yes
Min Deposit: £100
CFD Assets: 2,000+
License: FCA, CySEC, ASIC, FSCA, MAS
With a well-respected reputation in the industry, massive amounts of experience, and an army of current and previous very happy customers, Plus500 easily qualifies as one of the most reliable CFD forex brokers today.
This broker has several prestigious licenses from some of the world’s strictest regulatory bodies.
In other words, you have no reason to ever doubt that Plus500 is a trusted broker, and so you can rest assured that your data and funds are in safe hands.
Which is the Best Forex Platform for Advanced Traders in Europe?
Forex.com is a top forex broker with a great reputation, 80+ currency pairs, and a selection of trading platforms suitable for any and every trader.
Even though this broker offers other assets as well – mainly CFDs – what sets them apart from their competitors is their fantastic forex trading service.
✔ Offers MT4 and an Advanced Platform
✔ Unparalleled forex service
✔ Poor selection of CFDs
✔ Long processing times for certain withdrawals
✔ Offers MT4 and an Advanced Platform
✔ Unparalleled forex service
✗ Poor selection of CFDs
✗ Long processing times for certain withdrawals
Fees: Commission-free forex trading
Demo Account: Yes
Min. Deposit: $100
Assets: 300 assets, including 80+ FX pairs.
License: FCA, CySEC, etc.
Forex.com offers a combination of their own platform and MetaTrader 5, which means that they have trading software suitable for everyone.
As a professional forex broker, you want to consider using Forex.com because they provide Direct Market Access (DMA) trading on the forex market; a feature that is very rare in the business.
What this means is that you can trade forex as CFDs on the Forex.com platform and MT5, as well as directly from the said forex market. That’s a great solution for advanced forex traders if you ask us.
How Do I Choose a Forex Broker?
When choosing a forex broker, there are certain things to keep in mind.
The main deciding factor is always the safety and, as said many times before, you should never use an unregulated broker. Luckily, all the brokers listed on this page and this entire site are regulated and licensed.
You also have to consider the currency pairs you’re looking to trade, since not all brokers have the same selection. Your trading budget will also help determine the best forex broker in Europe for you, given the brokers have different minimum deposits and fees.
Lastly, we always recommend opening a demo account with any broker you are interested in. This way, you get a chance to test the broker and trade on the different platforms, before making your final decision and depositing real money.
How Do I Know If My Forex Broker is Regulated?
There are three ways to check if your forex broker is regulated:
- Visit the broker in question’s website. Broker’s are always proud of their licenses and so you will usually find information about their regulators at the bottom of every page.
- Check our broker recommendations and guides. We only recommend regulated brokers, so if you find your broker on this site, you can be sure that it’s regulated and safe.
- You can also visit the website of the regulatory body in your jurisdiction. In this case, it’s the Cyprus Securities and Exchange Commission (CySEC), which has all their licensed brokers listed on their site.
How Much Money Do I Need to Trade Forex?
You can start trading forex for as little as €50, but it depends on the broker
you pick. You see, every broker sets their minimum deposit limits and that limit is what determines how little or how much you can trade with.
As you can see in the guide above, we have listed all the brokers’ deposit limits in this guide. That way, you can quickly find a broker that suits your budget.
Can I Copy Trading from an Expert?
Yes, you can! Broker has a unique and exciting copy trading platform that
lets you follow and copy more experienced traders.
This way, you can learn from the best, while also having a shot at making a profit.
Forex Trading in Europe: FAQ
Can brokers steal your money?
Yes, technically a broker could steal all your money and sell your information. But there is no need to worry. As long as you use a regulated broker, with a license from at least one reliable regulatory body, you can rest assured that your funds and data are safe.
Unlike an unregulated broker that can do and steal whatever they want, a regulated broker has to answer to a government body that also continuously audits and evaluates their services.
How do you know if a broker is legit?
We use a few different methods to confirm if a broker is legit or not. The main method is checking that the broker is licensed because, without a license, you cannot trust the operator.
You also want to check professional reviews like the ones provided on this site, as well as customer reviews. For your convenience, we regularly collect and showcase data from leading review sites such as Google Play, the App Store, and Trustpilot.
When does the European market open?
Being the fact that the forex market is decentralised, it’s technically open 24 hours a day, 5 days a week. That being said, the European forex market is open during regular business/trading hours, ie. from 7 am to 4 pm (GMT).
When does the European market close?
As mentioned above, the forex market is open 24 hours a day, 5 days a week. Although, in Europe, the forex market closes at 4pm (GMT).
What are the best forex trading hours in Europe?
This depends on the currencies you’re trading. If trading European currencies, regular business hours are the best trading hours in Europe.
As soon as you start trading on other markets, you may have to adapt your trading hours accordingly.
Do you have to have a forex license in Europe?
All forex brokers in Europe that are legally operating are licensed by either the CySEC or the FCA. That means that they are regulated according to the ESMA’s MiFID Directive, which was put in place to protect customers.
Europe forex leverage restrictions
In 2018, the European Union updated the Union’s trading laws to help further protect the interest of the traders. This update included a major change to the leverage and margin levels in the region.
Today, leverage for forex trading in the EU is restricted to 30:1 for major forex pairs, and 10:1 for non-major currency pairs.
What are Interactive brokers forex margin requirements in Europe?
As mentioned in the answer above, forex brokers in Europe are limited to offering 30:1 in leverage and margin for major currency pairs and 10:1 for all other forex pairs.
In other words, it’s not the margin that is limited, but the size of the leverage offered, since the margin is affected by how much you open a position for.
Note: Don’t hesitate to leave a comment below in case you have any questions regarding trading apps, safety, day trading, investments, financial systems, or anything else that might come to mind while spending time on our website. We promise to answer you as soon as possible.
Trading Platforms, Brokers & Apps That We Tested:
- Markets.com
- 24Option
- IQ Option
- BDSwiss
- HotForex
- Trade.com
- Libertex
- Plus500
- XTB
- InstaForex
- IG Markets
- GKFX
- LionsFX
- Valutrades
- XM
- IronFX
- Blackwellglobal
- FPMarkets
- AmanaCapital
- Admiralmarkets
- Alvexo
- Bizintra
- Pepperstone
- Windsorbrokers
- FXPro
- ForexTime
- HYCM
- FXGrow
- TeleTrade
- Trader.online
- Marketscube
- Finmaxbo
- FXCC
- Oanda
- Forex.com
- LCG
- CMC Markets
- FXCM
- iForex
- IFC Markets
- Aaatrade
Is Trading Allowed In My Country?
CFD Regulation Country by Country. The CFD trading services we are listing in this article are available in the following countries.
Europe:
- Albania
- Bosnia & Herzegovina
- Bulgaria
- Croatia
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Kosovo
- Latvia
- Lithuania
- Macedonia
- Malta
- Moldova
- Montenegro
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Russia
- Serbia
- Slovenia
- Spain
- Sweden
- Switzerland
- Turkey
- Ukraine
- United Kingdom
Excluded: Belgium
North America
- Belize
- Canada
- Costa Rica
- Cuba
- Guatemala
- Honduras
- Jamaica
- Mexico
- Nicaragua
- Panama
- Puerto Rico
- The Bahamas
Excluded: United States
South America
- Argentina
- Bolivia
- Chile
- Colombia
- Dominican Republic
- Ecuador
- Guyana
- Paraguay
- Peru
- Suriname
- Uruguay
- Venezuela
Excluded: Brazil
Africa
- Algeria
- Angola
- Benin
- Botswana
- Burkina Faso
- Burundi
- Cameroon
- Central African Republic
- Chad
- Democratic Republic of Congo
- Egypt
- Eritrea
- Ethiopia
- Gabon
- Ghana
- Guinea
- Guinea-Bissau
- Kenya
- Lesotho
- Liberia
- Libya
- Madagascar
- Malawi
- Mali
- Mauritania
- Morocco
- Mozambique
- Namibia
- Niger
- Nigeria
- Republic of the Congo
- Rwanda
- Sierra Leone
- Somalia
- South Africa
- South Sudan
- Sudan
- Swaziland
- Tanzania
- The Ivory Coast
- Togo
- Tunisia
- Tunisia
- Uganda
- Western Sahara
- Zambia
- Zimbabwe
Middle East
- Georgia
- Armenia
- Azerbaijan
- Iran
- Iraq
- Syria
- Lebanon
- Cyprus
- Israel
- Jordan
- Saudi Arabia
- Kuwait
- Bahrain
- Qatar
- United Arab Emirates
- Oman
- Yemen
Asia
- Afghanistan
- Bangladesh
- Cambodia
- China
- China
- India
- Indonesia
- Japan
- Kazakstan
- Kirgizistan
- Laos
- Malaysia
- Mongolia
- Myanmar
- North Korea
- Pakistan
- Papua New Guinea
- Philippines
- Singapore
- South Korea
- Sri Lanka
- Thailand
- Turkmenistan
- Uzbekistan
- Vietnam
Excluded: Hong Kong
Oceania:
- Australia
- New Zealand
Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.Our Author:
Adam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.
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