Best Forex Brokers in Latvia 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the best Forex brokers in Latvia based on our analysis:
- 1
IC Markets EU - Best Forex broker in Latvia - A wide range of trading assets. Low spreads. Variety of trading platforms. - 2
AvaTrade EU - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 3FxPro EU - A wide selection of trading accounts. Various trading platforms. A diverse range of available markets and products.
- 4
Deriv EU - Simple and fast account opening process. Low commission structure. Convenient methods for account funding and withdrawal without commission. - 5
- 6
ActivTrades Europe - Wide range of trading assets. A wide variety of trading platforms. Extensive training materials including webinars, videos, articles and guides. - 7
FBS EU - Low spreads and trading fees. Extensive database of educational materials and analytical tools. Wide range of trading assets. - 8
HF Markets EU - Wide selection of trading assets. A variety of educational materials and analytical reviews. Customer support is available in many languages. - 9
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account. - 10
Oanda EU - Tight spreads. Efficient and secure processes for account funding and withdrawals. Extensive market and product offerings.
Our Top 10 Best Forex Brokers in Latvia was compiled based on in-depth analysis and strict criteria, making it a valuable resource when choosing the ideal trading platform. This list will be useful for those looking for a broker that combines suitable trading strategies and provides reliable investment protection.
List of the Best Forex Brokers in Latvia in 2024
We conducted a comprehensive analysis of numerous companies to highlight the best for trading in Latvia. This section presents thorough reviews of the leading Forex brokers in Latvia, which will help you make an informed choice. Our reviews include detailed descriptions of each broker's services and feedback from traders who have already tested them in practice. Whether you are new to the world of Forex or an experienced investor looking for a reliable partner in the financial markets, our reviews will provide you with all the necessary information to choose the perfect broker that meets your requirements and investment strategies.
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. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
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. Oanda
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
- Tight spreads.
- Efficient and secure processes for account funding and withdrawals.
- Extensive market and product offerings.
- High-quality trading platforms.
- Quality analytics.
Cons
- Limited diversity in account offerings.
- High swaps.
- Limited educational resources.
Regulation of Forex Brokers in Latvia
Since the beginning of 2023, the main regulator in the financial sector is the Bank of Latvia, which has taken over the functions of the Financial and Capital Market Commission (FKTK), thus ensuring more centralized and effective control.
The Bank of Latvia strictly monitors Forex brokers' compliance with a number of criteria aimed at ensuring the transparency of their activities. Particular attention is paid to the segregation of client funds and accurate risk information, which prevents potential financial losses for traders.
In addition to national regulation, Latvian brokers are also subject to European Union legislation, including the Markets in Financial Instruments Directive (MiFID II). This ensures a high level of investor protection, standardization of trading conditions, and increased overall transparency of financial operations.
How to Choose the Best Forex Broker in Latvia
Choosing the right broker is a key step towards successful trading in the currency market. The right choice of broker should take into account a number of important factors to ensure your comfort and confidence in trading. Here are some key aspects to consider when choosing a broker:
Licensing and regulation. Check if the broker is licensed by one of the European regulators. This guarantees its reliability and compliance with all necessary standards and laws of the European Union.
Types of trading accounts. It is important that the broker offers a variety of trading accounts suitable for both beginners and experienced traders, taking into account various investment opportunities and strategies.
Trading platforms. Make sure the broker provides convenient and intuitive trading platforms that facilitate fast and accurate execution of trading operations.
Trading conditions. Evaluate the offered spreads, commissions, and the availability of the trading instruments you need to ensure they meet your requirements and trading strategy.
Quality of customer support. It is important that the broker provides quality support available in various forms (phone, email, chat) and in several languages, including Latvian.
By considering these key points, you will be able to make an informed choice and find a reliable Latvian Forex broker that meets your requirements. Also, do not forget to use a demo account to familiarize yourself with the broker's services before starting real trading.
How We Compiled the List of Top Forex Brokers in Latvia
The top best Forex brokers in Latvia are compiled based on carefully selected and balanced criteria:
Broker rankings are based on our comprehensive Forex broker rating.
Brokers were evaluated according to our exclusive methodology, which considers a wide range of parameters.
All brokerage companies included in the list are popular in Latvia and offer their services to Latvian traders.
These criteria ensure that the Forex brokers listed in our Latvia ranking meet high standards of quality and safety. They also provide trading conditions that promote effective and secure trading in the Forex market.
Conclusion
Choosing a reliable broker is a fundamental step towards successful trading in the currency market. The importance of aspects such as regulatory compliance, trading conditions, reliability, and quality of customer service cannot be overstated. Our ranking of the best Forex brokers in Latvia is designed to assist you in this choice, offering comprehensive analysis and recommendations based on detailed research and real user opinions. We strive to provide you with valuable information that will be useful in finding the ideal broker that meets your individual needs and strategies, helping you confidently move towards financial independence and success in the Forex market.
FAQ
Which brokers are the best?
The best brokers depend on your needs and preferences. However, some of the most popular and reliable brokers include:
- IC Markets: Known for low spreads and fast order execution.
- Admirals: Offers a wide range of trading instruments and excellent customer support.
- FBS: Attracts traders with a variety of bonuses and promotions.
- FxPro: Provides quality educational support and a wide range of trading platforms.
It is recommended to study the conditions and offers of each broker to choose the most suitable one for yourself.
How do brokers make money?
Brokers earn from several main sources of income:
- Spreads: The difference between the buying and selling price of an asset.
- Commissions: Fixed fees for each completed transaction.
- Swaps: Fees for rolling over a position to the next day.
- Additional services: Fees for withdrawals, paid subscriptions to analytical materials, and other services.
How do brokers work?
Brokers perform several key functions:
- Intermediation: Brokers act as intermediaries between traders and financial markets, providing access to trading platforms.
- Order execution: Brokers accept and execute clients' trading orders, buying and selling assets on their behalf.
- Providing analytical tools: Brokers offer various analytical tools such as charts, indicators, and reports.
- Educational support: Brokers provide educational materials and webinars to improve traders' skills.
- Customer support: Brokers offer assistance to clients on technical and organizational support issues.
Why are brokers needed?
Brokers are necessary for several reasons:
- Market access: Brokers provide traders with access to financial markets such as Forex, stocks, commodities, and cryptocurrencies.
- Trade execution: Brokers ensure fast and accurate execution of trading orders.
- Educational support: Brokers offer educational materials and analytical resources to help traders make informed decisions.
- Technical support: Brokers provide technical support and assistance with issues related to trading platforms and accounts.
- Risk management: Brokers provide risk management tools such as stop-loss and limit orders.
