Best Forex Brokers & Platforms for Europeans (2020)

This complete Forex broker in Europe review guide is based on over 140 hours of research and 253,478 user reviews from Trustpilot, Google, and Apple Store.

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.

Which Are the Best Forex Brokers in Europe?

  • Best Forex Platform in Europe Forex.com
  • Best Forex App in Europe  Plus500
  • Best Forex Broker Fees for Europeans CMC Markets
  • Best Forex Broker for Beginners eToro
  • Best Forex Platform for Automated Trading in Europe AvaTrade
  • Which is the Most Reliable Forex Broker? Plus500
  • Best Forex Platform for Advanced Traders Forex.com  
  • Best Forex Trading Platform & Broker: Forex.com

Best Forex Platform in Europe

Forex.com

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.

What we like

Offers MT4 and an Advanced Platform

Unparalleled forex service

What we don't like

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

Features

Fees: Commission-free forex trading
Demo Account: Yes
Min. Deposit: $100
Assets: 300 assets, including 80+ FX pairs.
License: FCA, CySEC, etc.

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

1 users gave the score of 5/5
Total score:
star-full star-full star-full star-half star-empty

2,883 users gave the score of 3.55/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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.

Best Forex App in Europe

Plus500

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.

What we like

Easy to use mobile software

Competitive spread

Top rated in both app stores

What we don't like

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Easy to use mobile software

Competitive spread

Top rated in both app stores

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Features

Fees: 0% commission, except stocks.
Demo Account: Yes
Min Deposit: £100
Assets: 2,000+
License: FCA, CySEC, ASIC, FSCA, MAS

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

12 users gave the score of 4.6/5
Total score:
star-full star-full star-full star-full star-empty

95,254 users gave the score of 4.05/5

76,4% of retail CFD accounts lose money. Plus500 has been named the best CFD provider in the UK, Spain, and Germany by the Investment Trends 2019 Leverage Trading Report in the UK and Spain. In 2018, Plus500 was named the best CFD mobile platform by the Investment Trends 2018 Australia CFD report.

Plus500 keeps topping the lists for the best forex trading app in Europe, and the rest of the world, and there is a good reason why. You see, the Plus500 forex app is currently the highest-ranking forex app in both app stores (Google Play and the App Store).

Furthermore, the platform that was designed and mobile-optimised in-house, makes mobile forex trading easier than ever before. In fact, Plus500 is not only a customer-favourite, but it is also one of our absolute favourite brokers in 2020.

Best Forex Broker Fees for Europeans

CMC Markets

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.

What we like

Huge selection of assets

Well-established broker

Top-notch trading platform

What we don't like

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

Features

Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

4 users gave the score of 4.5/5
Total score:
star-full star-full star-full star-full star-empty

3,005 users gave the score of 4.08/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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.

The Best Forex Broker for Beginners

eToro

No online broker does copy trading like eToro.

You can choose to trade on your own or copy other traders, and the social trading network is the perfect place to share experiences and learn new skills from other traders from all over the world.

What we like

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

What we don't like

Commission of CFD stocks.

High minimum deposit

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

Commission of CFD stocks.

High minimum deposit

Features

Fees: 0% commission on stocks, although not on stock CFDs.
Demo Account: Yes
Min Deposit: £200
Assets: Hundreds of stocks.
Deposit Options: Credit/Debit Cards, Skrill, Neteller, PayPal, Wire, Rapid Transfer
License: FCA, CySEC, ASIC

Ratings:
star-full star-full star-full star-full star-full

Rating by our editorial team

10 users gave the score of 4.7/5
Total score:
star-full star-full star-full star-full star-empty

50,461 users gave the score of 3.75/5

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

We are utterly convinced that eToro is the top forex broker for beginners right now. We would even argue the point that eToro is the best online broker, period. The unique copy trading platform, which eToro has developed, allows traders to follow and copy other more successful traders.

That way, you can get up to speed quickly, while also eliminating some of the analytic work that often poses the biggest problem for new traders. With that in mind, we want to add that eToro does have quite high fees, which aren’t necessarily suitable for beginners.  

Best Forex Platform for Automated Trading in Europe  

AvaTrade

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.

What we like

Easily integrated trading robots

Commission-free trading

What we don't like

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

Features

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

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

4 users gave the score of 4.8/5
Total score:
star-full star-full star-full star-full star-half

6,742 users gave the score of 4.55/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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.  

Which is the Most Reliable Forex Broker?  

Plus500

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.

What we like

Easy to use mobile software

Competitive spread

Top rated in both app stores

What we don't like

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Easy to use mobile software

Competitive spread

Top rated in both app stores

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Features

Fees: 0% commission, except stocks.
Demo Account: Yes
Min Deposit: £100
Assets: 2,000+
License: FCA, CySEC, ASIC, FSCA, MAS

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

12 users gave the score of 4.6/5
Total score:
star-full star-full star-full star-full star-empty

95,254 users gave the score of 4.05/5

76,4% of retail CFD accounts lose money. Plus500 has been named the best CFD provider in the UK, Spain, and Germany by the Investment Trends 2019 Leverage Trading Report in the UK and Spain. In 2018, Plus500 was named the best CFD mobile platform by the Investment Trends 2018 Australia CFD report.

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 the most reliable forex broker today.  

This broker represents the epitome of a safe broker, with 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 safe, and so you can rest assured that your data and funds are in safe hands.  

Best Forex Platform for Advanced Traders  

Forex.com

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.

What we like

Offers MT4 and an Advanced Platform

Unparalleled forex service

What we don't like

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

Features

Fees: Commission-free forex trading
Demo Account: Yes
Min. Deposit: $100
Assets: 300 assets, including 80+ FX pairs.
License: FCA, CySEC, etc.

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

1 users gave the score of 5/5
Total score:
star-full star-full star-full star-half star-empty

2,883 users gave the score of 3.55/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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.  

Which is the Best Forex Trading Platform & Broker in Europe?

Forex.com

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.

What we like

Offers MT4 and an Advanced Platform

Unparalleled forex service

What we don't like

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

Features

Fees: Commission-free forex trading
Demo Account: Yes
Min. Deposit: $100
Assets: 300 assets, including 80+ FX pairs.
License: FCA, CySEC, etc.

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

1 users gave the score of 5/5
Total score:
star-full star-full star-full star-half star-empty

2,883 users gave the score of 3.55/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

In addition to the obvious name, Forex.com actually happens to be the best forex broker in Europe right now. That is as long as you’re looking to trade currency pairs, since the selection of other assets leaves a lot to wish for.

When using Forex.com, you can choose to trade using the award-winning MetaTrader 4 platform or the broker’s Advanced Platform, which was developed in-house.

With 80+ currency pairs on offer, Forex.com offers a great variety of trading opportunities.

How Do I Choose a Forex Broker in Europe?  

how to choose a forex broker

When choosing a forex broker in Europe, 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:  

  1. 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.
  2. 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.
  3. 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! eToro 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

faq forex broker europe

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 forex 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 7am to 4pm (GMT).

When does the European forex 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 is 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.

Our Author:

Our editorAdam 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. Read more about him by visiting his LinkedIn profile or contact usdirectly to learn more about the team. 

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