Best Forex Brokers in Europe for 2024

Last updated Jun 19, 2024

We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the best Forex brokers in Europe based on our analysis:

  1. 1
    IC Markets EU Logo
    IC Markets EU - Best Forex broker in Europe - A wide range of trading assets. Low spreads. Variety of trading platforms.
  2. 2
    Pepperstone EU Logo
    Pepperstone EU - Wide selection of trading platforms. Tight spreads and favourable trading conditions. A large number of trading instruments, including over 600 CFDs on stocks.
  3. 3
    AvaTrade EU Logo
    AvaTrade EU - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources.
  4. 4
    CMC Markets EU Logo
    CMC Markets EU - Regulated by leading financial authorities, including BaFin, ensuring client funds' security. Low trading fees. Wide range of markets and products.
  5. 5
    FxPro EU Logo
    FxPro EU - A wide selection of trading accounts. Various trading platforms. A diverse range of available markets and products.
  6. 6
    FXCM Logo
    FXCM - Diverse methods for deposit and withdrawal. Wide range of markets and products for trading. A broad spectrum of trading platforms.
  7. 7
    Deriv EU Logo
    Deriv EU - Well-regulated with robust trader protection. Simple and fast account opening process. Low commission structure.
  8. 8
    Admirals EU Logo
    Admirals EU - Admirals is regulated by several leading financial authorities, including CySEC in Europe. Low trading fees. Wide range of payment methods.
  9. 9
    ActivTrades Europe Logo
    ActivTrades Europe - ActivTrades is a regulated broker with licenses from leading financial regulators. Wide range of trading assets. A wide variety of trading platforms.
  10. 10
    Oanda EU Logo
    Oanda EU - Tight spreads. Efficient and secure processes for account funding and withdrawals. Extensive market and product offerings.

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

1
Register70.64% of retail investors lose money when trading CFDs with this broker
Foundation Year2007
Minimum Deposit
€200
2
Register75.5% of retail investors lose money when trading CFDs with this broker
Foundation Year2010
Minimum Deposit
€1
3
Register76% of retail investors lose money when trading CFDs with this broker
Foundation Year2005
Minimum Deposit
€100
4
Register71% of retail investors lose money when trading CFDs with this broker
Foundation Year1988
Minimum Deposit
€1
5
Register73% of retail investors lose money when trading CFDs with this broker
Foundation Year2006
Minimum Deposit
€100
6
Register67-72% of retail investors lose money when trading CFDs with this broker
Foundation Year1999
Minimum Deposit
$50
7
Register67.28% of retail investors lose money when trading CFDs with this broker
Foundation Year2020
Minimum Deposit
€1
8
Register73% of retail investors lose money when trading CFDs with this broker
Foundation Year2001
Minimum Deposit
€1
9
Register63% of retail investors lose money when trading CFDs with this broker
Foundation Year2000
Minimum Deposit
€1
10
Register71% of retail investors lose money when trading CFDs with this broker
Foundation Year2001
Minimum Deposit
€1

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

IC Markets EU Logo
1
Register70.64% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Regulators:
Trading Assets
ForexIndicesStocksBondsETFPrecious MetalsEnergy CarriersSoft CommoditiesCryptocurrency
Trading Platforms
MetaTrader 5MetaTrader 4cTraderTradingView
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 EU is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.

IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.

Pros and Cons of IC Markets EU

Pros

  1. A wide range of trading assets.
  2. Low spreads.
  3. Variety of trading platforms.
  4. Quality educational materials.
  5. Efficient customer support service.

Cons

  1. High minimum deposit.

2. Pepperstone

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

Pepperstone EU is a significant and reliable broker that offers a broad range of trading instruments and attractive trading conditions. With regulation by serious authorities, clients can be confident in the security of their funds.

The broker is suitable for various types of traders. Beginners will find extensive educational materials, including trading guides, webinars, instructional videos, and Forex trading courses. Experienced traders will also appreciate Pepperstone's opportunities, including favorable trading conditions, various trading platforms, and access to complex trading instruments.

The broker's technical support operates at a high level, offering clients quick and efficient responses to any questions.

Pepperstone is an excellent choice for traders of all experience levels. With a unique combination of educational materials, trading tools, and high-quality customer service, this broker ensures excellent conditions for successful trading.

Pros and Cons of Pepperstone EU

Pros

  1. Wide selection of trading platforms.
  2. Tight spreads and favourable trading conditions.
  3. A large number of trading instruments, including over 600 CFDs on stocks.

Cons

  1. Lack of diversity in types of trading accounts.

3. AvaTrade

AvaTrade EU Logo
3
Register76% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexStocksIndicesETFCryptocurrencyBondsPrecious MetalsEnergy CarriersSoft 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 EU is well-suited for traders seeking a variety of trading instruments and user-friendly trading platforms. It can appeal to both beginners looking to start trading and experienced traders who want to expand their knowledge and skills.

Pros and Cons of AvaTrade EU

Pros

  1. A wide selection of financial assets.
  2. Innovative trading platforms.
  3. Highly rated educational resources.

Cons

  1. Limited trading account options.
  2. Account inactivity fee.

4. CMC Markets

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

CMC Markets EU has been a reliable CFD and Forex broker in the business for a long time. Top-tier financial authorities regulate the company, offers an excellent trading platform, and has low commission fees.

We believe it is an excellent choice for beginners and experienced traders. CMC Markets is a good option if you seek a trustworthy and reputable broker with extensive experience.

Pros and Cons of CMC Markets EU

Pros

  1. Regulated by leading financial authorities, including BaFin, ensuring client funds' security.
  2. Low trading fees.
  3. Wide range of markets and products.
  4. Access to the popular MetaTrader 4 and CMC Markets platforms.
  5. Extensive analytical materials.
  6. Comprehensive educational materials.

Cons

  1. Limited account options.
  2. Inactivity fee.
  3. No online chat.

5. FxPro

FxPro EU Logo
5
Register73% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesPrecious MetalsEnergy CarriersSoft 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 EU provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. The company offers extensive educational materials and analytical tools to aid in decision-making.

This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.

Pros and Cons of FxPro EU

Pros

  1. A wide selection of trading accounts.
  2. Various trading platforms.
  3. A diverse range of available markets and products.
  4. Multiple analytics tools.
  5. Extensive educational materials.

Cons

  1. An inactivity fee.
  2. Absence of cent accounts and services for copying trades.

6. FXCM

FXCM Logo
6
4.3/5
FXCM review
Register67-72% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksETFBondsPrecious MetalsEnergy CarriersSoft 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 represents a comprehensive solution that will benefit traders of all levels — from beginners to professionals. Beginners will appreciate the accessible educational materials and analytics, while experienced traders can use various instruments and flexible platform settings.

However, it's essential to consider drawbacks such as fees for account inactivity and the limited variety of trading accounts. These factors may be particularly significant for traders who do not plan to trade actively or are looking for more options for customization.

The broker offers a good balance between high-quality services and reasonable rates, making it an attractive choice for a broad spectrum of traders.

Pros and Cons of FXCM

Pros

  1. Diverse methods for deposit and withdrawal.
  2. Wide range of markets and products for trading.
  3. A broad spectrum of trading platforms.
  4. Extensive and quality materials for making informed decisions.
  5. Quick and efficient help in solving emerging issues.

Cons

  1. Insufficient variety of trading accounts.
  2. Inactivity fees and commissions for bank transfer withdrawals.
  3. Protracted account opening and verification process.

7. Deriv

Deriv EU Logo
7
Register67.28% 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 Europe 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.

Pros and Cons of Deriv EU

Pros

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

Cons

  1. Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
  2. Educational materials are limited to a blog and lack comprehensive learning resources.

8. Admirals

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

Admirals EU is suitable for a broad spectrum of traders. With its strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders.

Beginners seeking detailed educational resources and support will undoubtedly appreciate this broker. Experienced traders will also find it beneficial due to competitive trading commissions, abundant tools for analysis and trading, and the convenience of the depositing and withdrawal process.

Pros and Cons of Admirals EU

Pros

  1. Admirals is regulated by several leading financial authorities, including CySEC in Europe.
  2. Low trading fees.
  3. Wide range of payment methods.
  4. Extensive analytical resources.
  5. A rich collection of educational materials.

Cons

  1. Inactivity fee.
  2. Some users complain about the intrusiveness of the support service.

9. ActivTrades

ActivTrades Europe Logo
9
Register63% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexStocksIndicesBondsPrecious MetalsEnergy CarriersSoft 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 beginner traders who value simplicity and intuitive trading platforms, as well as a variety of educational materials to improve their skills. Moreover, this broker can be a suitable option for experienced traders who prefer to trade various instruments and use the powerful features of the MetaTrader 4, MetaTrader 5, and TradingView platforms.

Pros and Cons of ActivTrades Europe

Pros

  1. ActivTrades is a regulated broker with licenses from leading financial regulators.
  2. Wide range of trading assets.
  3. A wide variety of trading platforms.
  4. Extensive training materials including webinars, videos, articles and guides.
  5. Professional support team.

Cons

  1. Lack of diversity in trading accounts.

10. Oanda

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

OANDA Europe best suits intermediate to advanced traders who value a regulated trading environment, diverse market access, and robust trading platforms. These traders will likely benefit the most from OANDA's offerings and may find the limited educational resources and support hours less of a concern. Beginners might need to supplement their learning with external resources.

Pros and Cons of Oanda EU

Pros

  1. Tight spreads.
  2. Efficient and secure processes for account funding and withdrawals.
  3. Extensive market and product offerings.
  4. High-quality trading platforms.
  5. Quality analytics.

Cons

  1. Limited diversity in account offerings.
  2. High swaps.
  3. Limited educational resources.

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.

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.

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.

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.

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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