Best Forex Brokers in Europe for 2024

Last updated Mar 2, 2024
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

In 2024, Europe's Forex market presents a diverse range of brokers, each with distinctive features and conditions. Our carefully curated Top-10 Best Forex Brokers in Europe list, developed through rigorous evaluation, aims to guide you in selecting the ideal platform that aligns with your trading style and guarantees the safety of your investments.

List of the Best European Forex Brokers

Логотип IC Markets EU
1
Foundation Year
2007
Minimum Deposit
€ 200
4.5/5
Register71.65% of retail investors lose money when trading CFDs with this brokerIC Markets EU review
Логотип Pepperstone EU
2
Foundation Year
2010
Minimum Deposit
€ 1
4.5/5
Register75.5% of retail investors lose money when trading CFDs with this brokerPepperstone EU review
Логотип AvaTrade EU
3
Foundation Year
2005
Minimum Deposit
€ 100
4.5/5
Register76% of retail investors lose money when trading CFDs with this brokerAvaTrade EU review
Логотип CMC Markets EU
4
Foundation Year
1988
Minimum Deposit
€ 1
4.4/5
Register71% of retail investors lose money when trading CFDs with this brokerCMC Markets EU review
Логотип FxPro EU
5
Foundation Year
2006
Minimum Deposit
€ 100
4.3/5
Register73% of retail investors lose money when trading CFDs with this brokerFxPro EU review
Логотип FXCM
6
Foundation Year
1999
Minimum Deposit
$ 50
4.3/5
Register67-72% of retail investors lose money when trading CFDs with this brokerFXCM review
Логотип Deriv EU
7
Foundation Year
2020
Minimum Deposit
€ 1
4.2/5
Register70.1% of retail investors lose money when trading CFDs with this brokerDeriv EU review
Логотип Admirals EU
8
Foundation Year
2001
Minimum Deposit
€ 1
4.2/5
Register73% of retail investors lose money when trading CFDs with this brokerAdmirals EU review
Логотип ActivTrades Europe
9
Foundation Year
2000
Minimum Deposit
€ 1
4.2/5
Register63% of retail investors lose money when trading CFDs with this brokerActivTrades Europe review
Логотип Oanda EU
10
Foundation Year
2001
Minimum Deposit
€ 1
4/5
Register71% of retail investors lose money when trading CFDs with this brokerOanda EU review

We analyzed numerous European firms extensively to pinpoint the most dependable and user-friendly Forex trading options. Presented here are detailed reviews of the top Forex brokers in Europe, crafted to aid you in making a well-informed decision. Our evaluations encompass comprehensive profiles of each broker, along with authentic insights from Forex traders who have experienced their services firsthand. Whether you are new to Forex or searching for an ideal partner for financial market trading, our thorough reviews will steer you clear of common pitfalls and direct you toward the best trading platform to fulfill your economic aspirations.

1. IC Markets

Логотип IC Markets EU
1
4.5/5
Register71.65% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Regulators:
Trading Assets
ForexIndicesStocksBondsETFPrecious MetalsEnergy CarriersAgricultural CommoditiesCryptocurrency
Trading Platforms
MetaTrader 5MetaTrader 4cTrader
Deposit/withdrawal:
Логотип PayPal
Логотип Neteller
Логотип Skrill
Логотип Klarna
Логотип Swift
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип Rapid Transfer
compare IC Markets EU trading accounts

IC Markets is suitable for traders looking for low spreads and ECN accounts and the ability to scalp and use expert advisors.

Advantages of IC Markets EU

  • Regulation. IC Markets is regulated by CySEC, which guarantees client funds protection and trading conditions fairness.
  • A wide range of trading instruments. IC Markets clients can trade various assets, including currency pairs, stocks, indices, commodities, and cryptocurrencies.
  • Low spreads. IC Markets offers some of the lowest spreads on the market, making trading more accessible and cost-effective.
  • MetaTrader and cTrader platforms. These platforms are widely recognized for their advanced trading features and analysis tools.
  • Educational materials. The broker offers high-quality training materials suitable for beginners and experienced traders.
  • Efficient customer support service. IC Markets clients note the high level of customer support service, which responds quickly and professionally to problems and questions.

Disadvantages of IC Markets EU

  • High minimum deposit. The entry threshold for opening a trading account with IC Markets is relatively high and may be inconvenient for novice traders or those who do not want to invest large sums at once.
  • A limited number of withdrawal options. The options for withdrawing funds from IC Markets are limited, which may cause inconvenience, especially for clients who prefer specific payment systems.

2. Pepperstone

Логотип Pepperstone EU
2
4.5/5
Register75.5% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyETFStocksPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 5MetaTrader 4cTraderTradingView
Deposit/withdrawal:
Логотип PayPal
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
compare Pepperstone EU trading accounts

Pepperstone suits traders seeking a wide choice of platforms, tight spreads, and numerous trading instruments.

Advantages of Pepperstone EU

  • Wide selection of trading platforms.
  • Tight spreads and favourable trading conditions.
  • Numerous regulatory licenses.
  • A large number of trading instruments, including over 600 CFDs on stocks.

Disadvantages of Pepperstone EU

  • Lack of diversity in types of trading accounts.

3. AvaTrade

Логотип AvaTrade EU
3
4.5/5
Register76% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexStocksIndicesETFCryptocurrencyBondsPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 4MetaTrader 5WebTraderAvaTradeGO
Deposit/withdrawal:
Логотип Google Pay
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип JCB
compare AvaTrade EU trading accounts

AvaTrade is suitable for traders who value various instruments, copy trading services, and a user-friendly mobile version of trading platforms.

Advantages of AvaTrade EU

  • A wide selection of financial instruments. AvaTrade offers more than 60 currency pairs and CFDs on stocks, indices, commodities, cryptocurrencies, and other assets.
  • Innovative trading platforms. AvaTradeGO, MetaTrader 4 and 5, and WebTrader provide convenience and functionality for trading.
  • Educational resources. Access to an education center with video tutorials, articles, and other materials helps traders improve their skills and knowledge.

Disadvantages of AvaTrade EU

  • Limited account options. The absence of market execution of orders, cent accounts, and fixed spread accounts may limit options for traders.
  • Fees. Costs for account inactivity and maintenance may impact trading profitability.

4. CMC Markets

Логотип CMC Markets EU
4
4.4/5
Register71% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksBondsETFPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 4CMC Markets
Deposit/withdrawal:
Логотип PayPal
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип Онлайн банкинги
compare CMC Markets EU trading accounts

Broker CMC Markets is suitable for all traders thanks to its reliability, low commissions, and excellent trading platform.

Advantages of CMC Markets EU

  • Regulation. CMC Markets is regulated by leading financial authorities, including BaFin, ensuring client funds' security.
  • Low trading fees. The broker offers competitive spreads and swaps and does not charge fees for deposits or withdrawals.
  • Wide range of markets and products. CMC Markets provides access to various trading instruments, including currency pairs, stocks, indices, commodities, and cryptocurrencies.
  • Trading platforms. Access to the popular MetaTrader 4 and CMC Markets platforms, which offer flexible settings and an intuitive interface.
  • Analytics. The broker offers extensive analytical materials, including news from Reuters, an economic calendar, and technical analysis.
  • Education. CMC Markets offers comprehensive educational materials, including webinars, seminars, and courses.

Disadvantages of CMC Markets EU

  • Limited account options. The broker offers a limited number of account types, which may not meet the needs of all traders.
  • Inactivity fee. The broker charges a monthly fee if an account remains inactive for 12 months.
  • No online chat. While support is available 24/5, the lack of an online chat option may hinder instant communication with support.

5. FxPro

Логотип FxPro EU
5
4.3/5
Register73% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesPrecious MetalsEnergy CarriersAgricultural CommoditiesCryptocurrencyStocks
Trading Platforms
MetaTrader 4FxPro EdgeMetaTrader 5cTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип PayPal
Логотип Bank Transfer
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип Maestro
compare FxPro EU trading accounts

FxPro is suitable for traders looking for a reliable company with good trading conditions and a wide selection of instruments.

Advantages of FxPro EU

  • A wide selection of trading accounts with various conditions, including standard and professional accounts.
  • Various trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge, provide flexibility and convenience in trading.
  • A diverse range of available markets and products, including currency pairs, CFDs on indices, stocks, commodities, futures, and cryptocurrencies.
  • Analytical tools, including signals from Trading Central and Autochartist functionality.
  • Extensive educational materials, including free courses, articles, videos, and webinars, contribute to the development of traders.

Disadvantages of FxPro EU

  • An inactivity fee is charged after six months of no position opening or closing.
  • Absence of cent accounts and services for copying trades of successful traders.

6. FXCM

Логотип FXCM
6
4.3/5
Register67-72% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksETFBondsPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 4Trading StationTradingView
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип Swift
Логотип Visa
Логотип Mastercard
Логотип Discover
Логотип UnionPay
compare FXCM trading accounts

FXCM is suitable for traders of all levels. Beginners will find educational materials and helpful analytics, while experienced traders will appreciate various instruments and flexible platforms.

Advantages of FXCM

  • High level of regulation. Security and reliability in broker dealings.
  • Diverse methods for deposit and withdrawal. Convenience and flexibility in financial transactions.
  • Wide range of markets and products for trading. Opportunities for diversification and choice.
  • A broad spectrum of trading platforms. Ease and flexibility in trading.
  • Analytics. Extensive and quality materials for making informed decisions.
  • Technical support. Quick and efficient help in solving emerging issues.

Disadvantages of FXCM

  • Insufficient variety of trading accounts. Limited options for different types of traders.
  • Inactivity fees and commissions for bank transfer withdrawals. Additional expenses that can reduce overall profitability.
  • Protracted account opening and verification process. It can take up to 3 days, delaying the start of trading.

7. Deriv

Логотип Deriv EU
7
4.2/5
Register70.1% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksETFPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 5
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип Jeton
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип EPS
Логотип Giropay
Логотип Przelewy24
Логотип Rapid Transfer
Логотип iDeal
compare Deriv EU trading accounts

Deriv is ideally suited for traders who value a secure, well-regulated trading environment with a straightforward approach. It is particularly beneficial for those starting trading due to its user-friendly platforms and simple account management processes.

Advantages of Deriv EU

  • Well-regulated with robust trader protection.
  • Simple and fast account opening process.
  • Low commission structure.
  • Convenient methods for account funding and withdrawal without commission.
  • High-level technical support with fast and quality responses.

Disadvantages of Deriv EU

  • Absence of specific account types like fixed-spread and swap-free accounts.
  • Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
  • Educational materials are limited to a blog and lack comprehensive learning resources.

8. Admirals

Логотип Admirals EU
8
4.2/5
Register73% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesPrecious MetalsEnergy CarriersCryptocurrencyStocksETFAgricultural CommoditiesBonds
Trading Platforms
MetaTrader 4MetaTrader 5
Deposit/withdrawal:
Логотип Skrill
Логотип Klarna
Логотип Swift
Логотип Visa
Логотип Mastercard
compare Admirals EU trading accounts

Admirals is suitable for short-term traders looking for a large selection of instruments and a good educational program.

Advantages of Admirals EU

  • Regulation. Admirals is regulated by several leading financial authorities, including the FCA in the UK and CySEC in Cyprus, ensuring high reliability and security.
  • Trading Fees. Trading commissions are set at a competitive level, making trading with Admirals cost-effective.
  • Wide Range of Payment Methods. Clients can deposit and withdraw funds using various convenient payment methods, including bank transfers, credit/debit cards, and electronic wallets.
  • Analytics. Admirals offers extensive analytical resources, including an economic calendar, trading news, weekly podcasts, and technical and fundamental analyses.
  • Education. The broker provides a rich collection of educational materials, including webinars, articles, guides, and e-books.

Disadvantages of Admirals EU

  • Inactivity fee. Admirals charges a fee if an account remains inactive for a certain period, which may be undesirable for some investors.
  • Support. Although the support service provides multiple communication channels and quick responses, some users sometimes complain about its intrusiveness and note unprofessionalism. Additionally, information about the support service's working hours is missing from the Admirals website.

9. ActivTrades

Логотип ActivTrades Europe
9
4.2/5
Register63% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexStocksIndicesBondsPrecious MetalsEnergy CarriersAgricultural CommoditiesETF
Trading Platforms
MetaTrader 4MetaTrader 5ActivTraderTradingView
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип PayPal
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
compare ActivTrades Europe trading accounts

ActivTrades is suitable for beginners who value simplicity and educational materials and experienced traders who prefer MetaTrader and a wide range of instruments.

Advantages of ActivTrades Europe

  • Regulation. ActivTrades is a regulated broker with licenses from leading financial regulators such as the FCA and CySEC. This provides broker's clients with protection and reliability.
  • Wide range of instruments. ActivTrades offers access to a wide spectrum of trading instruments, including currency pairs, CFDs on stocks, indices, and commodities, allowing traders to diversify their trading.
  • Trading Platforms. ActivTrades offers popular trading platforms MetaTrader 4, MetaTrader 5, TradingView and its own ActivTrader platform. These platforms provide traders with various features, indicators, and tools for analysis.
  • Educational materials. The broker provides an extensive set of educational materials, including webinars, videos, articles, and guides, which helps traders of different experience levels to improve their trading skills.
  • Professional Support Team. ActivTrades' support service stands out for its high level of professionalism, ensuring effective and knowledgeable communication with clients, thus enhancing the overall trading experience.

Disadvantages of ActivTrades Europe

  • Lack of diversity in trading accounts. ActivTrades offers a limited number of types of trading accounts, which may not meet the needs of all traders, especially those looking for more flexible trading conditions or special offers for different levels of experience and trading volumes.

10. Oanda

Логотип Oanda EU
10
4/5
Register71% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksPrecious MetalsEnergy CarriersAgricultural CommoditiesETF
Trading Platforms
MetaTrader 5TradingViewfxTrade
Deposit/withdrawal:
Логотип Swift
Логотип Visa
Логотип Mastercard
Логотип Trustly
compare Oanda EU trading accounts

OANDA is ideal for intermediate and advanced traders seeking a regulated environment, diverse markets, and advanced trading platforms.

Advantages of Oanda EU

  • Strong reliability and stringent regulation across multiple jurisdictions, ensuring high client protection and financial integrity.
  • Competitive fee structure with no charges for deposits and withdrawals, and low spreads on major currency pairs.
  • Efficient and secure processes for account funding and withdrawals, adhering to regulatory compliance.
  • Extensive market and product offerings, catering to diverse trading preferences.
  • High-quality trading platforms with advanced functionality and integration with TradingView.
  • Comprehensive analytics providing valuable market insights and essential data for informed trading decisions.

Disadvantages of Oanda EU

  • Limited diversity in account offerings.
  • Potential high swap fees for some currency pairs and an inactivity fee.
  • Limited educational resources with a sparse blog offering, not fully meeting the learning needs of traders.
  • Technical support is unavailable 24/7 and lacks instant digital communication options like online chat or messaging.

How We Compiled the List of the Best Forex Brokers in Europe

The selection of the premier Forex trading platform in Europe was meticulously executed based on balanced and thorough criteria:

  1. Our broker rankings are derived from our comprehensive list of Forex brokers.

  2. The top brokers were evaluated and scored highly according to our detailed methodology.

  3. Each company featured in our list provides services that are accessible and tailored for European traders.

These standards ensure that our curated list of Forex and CFD brokers regulated in Europe adheres to strict reliability standards and offers trading conditions essential for secure and efficient operations in the Forex market.

Regulation of Forex Brokers in Europe

Navigating the European Forex market requires understanding the robust regulatory framework that governs it. In Europe, Forex brokers are subject to stringent regulations to ensure trader protection, market integrity, and financial transparency. The European Securities and Markets Authority (ESMA) is pivotal in setting guidelines and standards across European Union member states.

Each European country has its own regulatory body, like Germany's Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), and Cyprus Securities and Exchange Commission (CySEC), which enforces local compliance with ESMA rules. These regulations include segregated client funds, leverage limits, and mandatory risk disclosures to safeguard traders from market volatility and broker insolvency.

Furthermore, the Markets in Financial Instruments Directive (MiFID II) enhances transparency and fairness in financial markets. It sets the foundation for cross-border Forex trading within Europe, facilitating a harmonized trading environment.

This regulatory landscape ensures that Forex brokers operating in Europe adhere to high standards of conduct, offering traders a secure and reliable trading experience. As a result, traders can focus on their trading strategies with the assurance that their investments are well-protected within this regulated space.

How to choose a Forex Broker?

Choosing an appropriate Forex broker is crucial for success in the international currency market. When searching for a reliable Forex broker in Europe, it's essential to carefully analyze several vital factors that align with your personal trading needs and style. The right broker should meet your expectations without drawbacks that could impede your trading success. Consider these essential elements when selecting a Forex broker in Europe:

  1. Regulatory Compliance. Prioritize brokers regulated by reputable authorities like the European Securities and Markets Authority (ESMA), CySEC, or BaFin. This ensures the broker's reliability and commitment to transparency.

  2. Account Types. Choose a broker with account types suitable for your experience level and trading capital. The broker must provide options that resonate with your trading needs.

  3. Trading Platforms. The efficiency and user-friendliness of trading platforms are vital. Opt for a broker that offers intuitive platforms that enhance your trading experience.

  4. Trading Conditions. Carefully assess the broker's trading conditions, including Forex spreads, commission fees, minimum deposit requirements, and the variety of trading instruments available, to ensure they align with your trading strategies.

  5. Customer Support. Evaluate the quality of customer service, including the speed and effectiveness of responses. Ensure the broker offers communication channels that are convenient for you.

You can confidently select a top-notch Forex broker in Europe by thoroughly considering these criteria. We recommend experimenting with a demo account first to assess the broker's services and compatibility with your trading style.

FAQ

Yes, Forex trading is legal in Europe. However, it is regulated by various national and European financial authorities to ensure a fair and transparent trading environment.

Does ESMA regulate European Forex Brokers?

European Forex brokers are generally regulated by the European Securities and Markets Authority (ESMA) and national regulatory bodies in their respective countries. ESMA provides overarching guidelines to maintain investor protection and market stability.

Does Negative Balance Protection Apply to European Forex Brokers?

Negative balance protection is required for Forex brokers in Europe, particularly under ESMA regulations. This protection prevents traders from losing more money than they have in their trading accounts.

How to Verify a Forex Broker's Regulation in Europe?

To verify a broker's regulation in Europe, check the broker's website for regulatory information and verify it with the respective regulatory authorities, such as ESMA, FCA, CySEC, or BaFin. Most brokers list their license number and the name of the regulatory body on their website.

Which Currency Pairs Can I Trade in Europe?

In Europe, traders can trade many Forex pairs, including major currency pairs (EUR/USD, GBP/USD), minor pairs, and exotic pairs. The availability can vary based on the broker.

Are Cryptocurrencies Tradable Through European Forex Brokers?

Many European Forex brokers offer cryptocurrency trading alongside traditional currency pairs. However, the availability and regulation of cryptocurrency trading can vary between brokers and countries.

Is Algorithmic Trading Possible with European Forex Brokers?

Yes, algorithmic trading is possible with many European Forex brokers. They often support platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which facilitate algorithmic trading using Expert Advisors (EAs).

What is the Minimum Trade Size for Forex in Europe?

The minimum trade size for Forex in Europe varies by broker but often starts as low as 0.01 lots, known as a micro lot. Some brokers may offer even smaller trade sizes for novice traders or those looking to test strategies.

Can Beginners Trade Forex Successfully in Europe?

Beginners can trade Forex successfully in Europe, especially with brokers offering educational resources, demo accounts, and beginner-friendly trading platforms. However, Forex trading involves risk, and beginners should educate themselves thoroughly before trading with real money.

Is Forex Trading Taxable in Europe?

Forex trading is taxable in many European countries, but tax laws vary. Traders are typically required to declare profits and losses in their tax returns, and the specific tax implications depend on the country of residence. It's advisable to consult a tax professional for guidance.

Conclusion

Selecting an appropriate regulated Forex broker is crucial for successful currency market trading. Factors like the broker's reliability, adherence to regulatory standards, trading conditions, and the effectiveness of customer support play pivotal roles in this decision-making process. Our comprehensive list of the best Forex brokers in Europe for 2024 aims to guide you through this crucial selection. It offers in-depth information and recommendations from extensive analysis and genuine user feedback. This resource is crafted to aid you in finding a broker that not only aligns with your specific trading needs but enhances your potential for achieving financial independence and success in the dynamic world of Forex trading.

Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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