Best Forex Brokers in Hungary for 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top 10 Forex brokers in Hungary based on our analysis:
- 1
IC Markets EU - Best Forex broker in Hungary - A wide range of trading assets. Low spreads. Variety of trading platforms. - 2
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
AvaTrade EU - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 4FxPro EU - A wide selection of trading accounts. Various trading platforms. A diverse range of available markets and products.
- 5
Deriv EU - Simple and fast account opening process. Low commission structure. Convenient methods for account funding and withdrawal without commission. - 6
- 7
ActivTrades Europe - Wide range of trading assets. A wide variety of trading platforms. Extensive training materials including webinars, videos, articles and guides. - 8
FBS EU - Low spreads and trading fees. Extensive database of educational materials and analytical tools. Wide range of trading assets. - 9
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account. - 10
HF Markets EU - Wide selection of trading assets. A variety of educational materials and analytical reviews. Customer support is available in many languages.
This comprehensive guide is designed to help you choose a broker that perfectly matches your trading strategy while safeguarding your investments. Every broker featured in this list is distinguished by their unique features, advanced technology, and strong security protocols, ensuring an outstanding trading experience in Hungary's dynamic Forex market.
List of the Best Forex Brokers in Hungary in 2024
1. IC Markets
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
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
2. Pepperstone
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
- Wide selection of trading platforms.
- Tight spreads and favourable trading conditions.
- A large number of trading instruments, including over 600 CFDs on stocks.
Cons
- Lack of diversity in types of trading accounts.
3. AvaTrade
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
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
4. FxPro
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
- A wide selection of trading accounts.
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
5. Deriv
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
- 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.
Cons
- 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.
6. Admirals
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
- Low trading fees.
- Wide range of payment methods.
- Extensive analytical resources.
- A rich collection of educational materials.
Cons
- Inactivity fee.
- Some users complain about the intrusiveness of the support service.
7. ActivTrades
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
- Wide range of trading assets.
- A wide variety of trading platforms.
- Extensive training materials including webinars, videos, articles and guides.
- Professional support team.
Cons
- Lack of diversity in trading accounts.
8. FBS
FBS Europe emerges as a broker well-suited for traders seeking a reliable and secure trading environment complemented by competitive trading conditions. With its robust regulatory framework, comprehensive educational resources, and multilingual support, FBS appeals to novice and experienced traders who prioritize learning and support in their trading journey.
FBS stands out for its commitment to providing a user-friendly and supportive trading experience, making it a solid choice for traders focused on forex and major financial instruments.
Pros and Cons of FBS EU
Pros
- Low spreads and trading fees.
- Extensive database of educational materials and analytical tools.
- Wide range of trading assets.
Cons
- Limited choice of trading accounts.
- Limited trading platforms.
9. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
10. HF Markets
HF Markets Europe is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for European traders of varying experience levels.
HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.
Pros and Cons of HF Markets EU
Pros
- Wide selection of trading assets.
- A variety of educational materials and analytical reviews.
- Customer support is available in many languages.
Cons
- There is no alternative to MetaTrader.
- High swaps and wide spreads.
Regulation of Forex Brokers in Hungary
In Hungary, the activities of Forex and CFD brokers are regulated by stringent laws and regulations designed to protect investors, ensure the integrity of trading operations, and maintain financial stability. The primary regulatory body in the country is the Magyar Nemzeti Bank (MNB), which sets and enforces compliance standards for financial institutions, including Forex brokers.
The MNB diligently ensures that brokers adhere to norms concerning the transparency of financial operations, the segregation of client funds, and the provision of accurate risk information. This includes mandatory risk warnings and leverage limitations designed to minimize the potential for significant losses for traders.
Moreover, Hungary complies with European Union legislation, particularly the Markets in Financial Instruments Directive (MiFID II), which fosters the harmonization and efficiency of financial markets across Europe. This legislation offers additional protection for investors by establishing standards for operational transparency and risk management.
This comprehensive regulatory framework makes Hungary one of the most reliable and secure markets for Forex trading. Thanks to strict regulations, Hungarian traders can rely on the protection of their interests and the stability of their interactions with brokers, creating optimal conditions for successful Forex trading.
How We Compiled the List of Top Forex Brokers in Hungary
Our approach to identifying the leading Forex trading platforms in Hungary involved meticulous precision and a comprehensive set of benchmarks:
Thorough Research and Evaluation: We began by compiling an extensive list of broker Forex that met our predefined criteria. Each broker was meticulously scrutinized through a detailed evaluation methodology to assess their services and operational efficiency in an unbiased manner.
Regulatory Adherence: We focused on brokers regulated by recognized financial authorities such as the Magyar Nemzeti Bank (MNB) and other reputable European regulators like the CySEC, BaFin, or FCA. This ensures the brokers operate transparently and comply with stringent financial standards.
Trading Conditions and Platforms: We evaluated brokers based on their trading conditions, including spreads, fees, minimum deposits, and the variety of trading instruments available. The quality and usability of their trading platforms were also assessed, with a preference for those offering popular platforms like MetaTrader 4 and MetaTrader 5, as well as proprietary platforms with advanced features.
Customer Support and Localization: The quality of customer support was a key factor, particularly the availability of support in Hungarian and accessible communication channels. We also considered brokers that offer localized services, such as websites and educational resources in Hungarian, to better serve Hungarian traders.
User Feedback: We incorporated genuine feedback from traders who have used these brokers to provide a well-rounded view of each broker's strengths and weaknesses. This includes aspects like ease of use, customer service experiences, and overall satisfaction.
By combining these factors, we ensured that our list of top Forex brokers in Hungary is comprehensive, reliable, and tailored to meet the needs of Hungarian traders.
FAQ
What is the best Forex broker?
The best Forex broker varies depending on individual needs and preferences. Top brokers are often recognized for their regulatory compliance, trading conditions, platform features, and customer support. Some popular options include XM, AvaTrade, and IC Markets.
How to verify a regulated Forex broker in Hungary?
To verify a regulated Forex broker in Hungary, check if they are licensed by the Magyar Nemzeti Bank (MNB). You can also verify their regulatory status on the MNB's official website or other reputable financial regulatory bodies such as CySEC, FCA, or BaFin.
Is Forex trading legal in Hungary?
Yes, Forex trading is legal in Hungary. Traders must ensure they use brokers regulated by recognized authorities, such as the Magyar Nemzeti Bank (MNB) or other reputable European regulators.
Which broker offers the lowest spreads?
Low spreads Forex brokers include IC Markets, Pepperstone, and FxPro. Always compare the spreads on their websites as they may vary depending on market conditions and account types.
Are there Forex brokers with no overnight fees?
Yes, some Forex brokers offer accounts with no overnight fees, also known as swap-free accounts. Examples include XM and Pepperstone, which provide Islamic accounts compliant with Sharia law.
Which broker provides instant withdrawals?
Brokers known for providing instant withdrawals include XM, HF Markets, and IC Markets. The speed of withdrawals can depend on the payment method used and the broker's policies.
How to open a trading account from Hungary?
To open a trading account from Hungary, follow these steps:
- Choose a regulated Forex broker.
- Visit their website and complete the online registration form.
- Verify your identity and address by submitting the required documents.
- Fund your account using the available payment methods.
- Start trading once your account is verified and funded.
Can I trade Forex without a broker?
No, you cannot trade Forex without a broker. Brokers provide the platform and access to the Forex market, allowing traders to execute buy and sell orders.
How much money do I need to begin Forex trading?
The minimum amount required to begin Forex trading varies by broker. Some brokers allow you to start with as little as $1, while others may require a minimum deposit of $100 or more. It's essential to choose an amount that aligns with your risk tolerance and trading strategy.
Is Forex good for beginners?
Forex trading can be suitable for beginners if they take the time to educate themselves about the market, use demo accounts to practice, and start with small investments. It's crucial to understand the risks involved and to use proper risk management strategies.
What does a Forex broker do?
A Forex broker facilitates the buying and selling of currencies on behalf of traders. They provide trading platforms, market analysis, educational resources, and customer support. Brokers earn through spreads, commissions, and other fees.
Which trading platform is best for Forex?
Popular Forex trading platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are favored for their user-friendly interfaces, advanced charting tools, and automated trading capabilities.
Can you make money with Forex trading in Hungary?
Yes, it is possible to make money with Forex trading in Hungary. However, it requires knowledge, experience, and effective risk management. Many traders also use educational resources and demo accounts to improve their trading skills before committing to real funds.
Which Forex broker is most reliable?
Reliable Forex brokers are typically regulated by reputable authorities, have a solid reputation, and offer transparent trading conditions. Examples of reliable brokers include IG, OANDA, and Saxo Bank.
Which broker is most used in Hungary?
The most used Forex brokers in Hungary often include those with strong regulatory oversight, competitive trading conditions, and excellent customer service. Popular choices include XM, Admirals, and eToro.
