Best Forex Brokers in Norway for 2024

Last updated Jul 6, 2024

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

  1. 1
    IC Markets EU Logo
    IC Markets EU - Best Forex broker in Norway - 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
    FxPro EU Logo
    FxPro EU - A wide selection of trading accounts. Various trading platforms. A diverse range of available markets and products.
  5. 5
    Deriv EU Logo
    Deriv EU - Simple and fast account opening process. Low commission structure. Convenient methods for account funding and withdrawal without commission.
  6. 6
    Admirals EU Logo
    Admirals EU - Low trading fees. Wide range of payment methods. Extensive analytical resources.
  7. 7
    ActivTrades Europe Logo
    ActivTrades Europe - Wide range of trading assets. A wide variety of trading platforms. Extensive training materials including webinars, videos, articles and guides.
  8. 8
    FBS EU Logo
    FBS EU - Low spreads and trading fees. Extensive database of educational materials and analytical tools. Wide range of trading assets.
  9. 9
    HF Markets EU Logo
    HF Markets EU - Wide selection of trading assets. A variety of educational materials and analytical reviews. Customer support is available in many languages.
  10. 10
    Oanda EU Logo
    Oanda EU - Tight spreads. Efficient and secure processes for account funding and withdrawals. Extensive market and product offerings.

This detailed guide aims to assist you in selecting a broker that aligns seamlessly with your trading strategy while emphasizing the safeguarding of your investments. The brokers featured here stand out due to their distinct characteristics, cutting-edge technology, and robust security measures, guaranteeing an exceptional trading experience in Norway's vibrant Forex market.

List of the Best Forex Brokers in Norway in 2024

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
Register73% of retail investors lose money when trading CFDs with this broker
Foundation Year2006
Minimum Deposit
€100
5
Register67.28% of retail investors lose money when trading CFDs with this broker
Foundation Year2020
Minimum Deposit
€1
6
Register73% of retail investors lose money when trading CFDs with this broker
Foundation Year2001
Minimum Deposit
€1
7
Register63% of retail investors lose money when trading CFDs with this broker
Foundation Year2000
Minimum Deposit
€1
8
Register69.21% of retail investors lose money when trading CFDs with this broker
Foundation Year2007
Minimum Deposit
€10
9
Register70% of retail investors lose money when trading CFDs with this broker
Foundation Year2009
Minimum Deposit
€1
10
Register71% of retail investors lose money when trading CFDs with this broker
Foundation Year2001
Minimum Deposit
€1

We have meticulously researched numerous local firms to identify the most reliable and user-friendly online Forex trading brokers. This section is dedicated to presenting in-depth reviews of the top Forex brokers in Norway, carefully crafted to help you make an informed decision. Our reviews provide detailed profiles of each broker, enriched with genuine feedback from traders who have experienced their services firsthand. Whether you are just beginning your CFD and Forex trading journey or seeking the ideal partner to navigate the complexities of the financial markets, our comprehensive broker reviews are designed to help you avoid common pitfalls and guide you toward the most suitable trading platform to achieve your financial goals in 2024.

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. FxPro

FxPro EU Logo
4
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.

5. Deriv

Deriv EU Logo
5
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. Simple and fast account opening process.
  2. Low commission structure.
  3. Convenient methods for account funding and withdrawal without commission.
  4. 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.

6. Admirals

Admirals EU Logo
6
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. Low trading fees.
  2. Wide range of payment methods.
  3. Extensive analytical resources.
  4. A rich collection of educational materials.

Cons

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

7. ActivTrades

ActivTrades Europe Logo
7
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. Wide range of trading assets.
  2. A wide variety of trading platforms.
  3. Extensive training materials including webinars, videos, articles and guides.
  4. Professional support team.

Cons

  1. Lack of diversity in trading accounts.

8. FBS

FBS EU Logo
8
Register69.21% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesStocksPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 5FBS Trader
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип Rapid Transfer
compare FBS EU trading accounts

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

  1. Low spreads and trading fees.
  2. Extensive database of educational materials and analytical tools.
  3. Wide range of trading assets.

Cons

  1. Limited choice of trading accounts.
  2. Limited trading platforms.

9. HF Markets

HF Markets EU Logo
9
Register70% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexStocksIndicesBondsETFPrecious MetalsEnergy CarriersSoft Commodities
Trading Platforms
MetaTrader 4MetaTrader 5WebTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип WebMoney
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
compare HF Markets EU trading accounts

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

  1. Wide selection of trading assets.
  2. A variety of educational materials and analytical reviews.
  3. Customer support is available in many languages.

Cons

  1. There is no alternative to MetaTrader.
  2. High swaps and wide spreads.

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 Norway

In Norway, the activity of Forex and CFD brokers is governed by stringent rules and regulations designed to protect investors, ensure the integrity of trading operations, and maintain financial stability. The primary regulatory authority in the country is the Financial Supervisory Authority of Norway (Finanstilsynet), which establishes and enforces compliance standards for financial institutions, including Forex brokers.

Finanstilsynet diligently ensures that brokers adhere to norms related to the transparency of financial operations, the segregation of client funds, and the provision of accurate risk information. This includes mandatory risk warnings and limitations on leverage, which help minimize the likelihood of significant losses for traders.

Moreover, Norway complies with European Union legislation, including the Markets in Financial Instruments Directive (MiFID II), promoting harmonization and efficiency of financial markets across Europe. This provides further protection for investors by establishing standards for operational transparency and risk management.

This comprehensive regulatory framework makes Norway one of the most reliable and secure markets for Forex trading. Thanks to strict regulations, Norwegian traders can trust in the protection of their interests and the stability of their interactions with brokers, creating optimal conditions for successful Forex trading.

How to Choose a Forex Broker in Norway?

Selecting the best Forex broker is crucial for success in the global currency market. Norwegian Forex traders should evaluate several critical aspects that align with their trading requirements and preferences. The ideal broker should meet your needs and enhance your trading efficiency. Here are vital factors to consider when choosing a Forex broker in Norway:

  1. Regulatory Compliance. Ensure that the broker is regulated by the Financial Supervisory Authority of Norway (Finanstilsynet) or other recognized regulatory bodies within the European Economic Area (EEA). This confirms the broker's trustworthiness and adherence to fair trading practices.
  2. Account Types. Look for a broker that offers account types suitable for your trading experience and investment capacity. The broker should provide various options catering to your specific trading necessities.
  3. Trading Platforms. The efficacy and ease of use of trading platforms are crucial. Opt for a broker that provides intuitive and efficient platforms that can positively impact your trading activities.
  4. Trading Conditions. Examine the broker’s terms, such as Forex spreads, trading fees, minimum deposit requirements, and the diversity of trading instruments available. Ensure these terms are conducive to your trading strategies.
  5. Customer Support. Assess the quality of customer support, focusing on their promptness and effectiveness. The broker should offer accessible and convenient channels of communication.

Finding the best broker involves careful consideration of these factors. It's recommended to begin with a demo account to evaluate the broker's services and compatibility with your trading approach.

How We Compiled the List of Top Forex Brokers in Norway

Our approach to identifying the leading Forex trading platforms in Norway involved meticulous precision and a comprehensive set of benchmarks:

  1. Thorough Research and Evaluation. We started by assembling an extensive Forex sites list 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.
  2. Regulatory Adherence. We focused on brokers regulated by recognized financial authorities such as the Financial Supervisory Authority of Norway (Finanstilsynet) and other reputable European regulators like the CySEC, BaFin, or FCA. This ensures the brokers operate transparently and comply with stringent financial standards.
  3. 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.
  4. Customer Support and Localization. The quality of customer support was a key factor, particularly the availability of support in Norwegian and accessible communication channels. We also considered brokers that offer localized services, such as websites and educational resources in Norwegian, to better serve Norwegian traders.
  5. 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 carefully considering these factors, we have compiled a list of the top Forex brokers in Norway, ensuring that they meet the high standards expected by Norwegian traders.

Conclusion

Choosing the best Forex broker is essential for successfully navigating the market. Key considerations include the broker's reputation, regulatory compliance, trading conditions, and the quality of customer support. Our carefully curated list of the best Forex brokers in Norway in 2024 aims to simplify this important decision. It offers detailed insights and comprehensive information based on rigorous research and genuine user feedback. Our goal is to assist you in finding a broker that not only meets but exceeds your trading needs, setting the stage for financial success and a rewarding Forex trading experience in Norway.

FAQ

Yes, Forex trading is legal in Norway. It is regulated by the Financial Supervisory Authority of Norway (Finanstilsynet), ensuring that brokers operate under strict guidelines to protect investors and maintain market integrity.

Which broker is best for beginners in Norway?

The best broker for beginners in Norway is often considered to be one that offers comprehensive educational resources, user-friendly trading platforms, and robust customer support. Brokers like AvaTrade and FBS are popular choices due to their extensive learning materials and intuitive platforms.

What are the top Forex brokers in Norway?

Some of the top Forex brokers in Norway include Pepperstone, IC Markets, and AvaTrade. These brokers are well-regulated, offer competitive trading conditions, and provide excellent customer support.

How do I verify if a Forex broker is regulated in Norway?

You can verify if a Forex broker is regulated in Norway by checking the Financial Supervisory Authority of Norway's (Finanstilsynet) official website. The site lists all licensed financial institutions and brokers operating within Norway.

Which Forex broker offers the lowest spreads for Norwegian traders?

Brokers like Pepperstone and IC Markets are known for offering competitive spreads. It's important to compare the spreads on the specific currency pairs you intend to trade as these can vary between brokers. For more options, check out this list of low spread Forex brokers.

Do you need to pay tax on Forex trading in Norway?

Yes, profits from Forex trading are subject to taxation in Norway. It's recommended to consult with a tax professional to understand your tax obligations and ensure compliance with local tax laws.

What is negative balance protection in Forex trading?

Negative balance protection ensures that traders cannot lose more money than they have deposited into their trading account. This feature is crucial for limiting potential losses and protecting traders from market volatility.

Can I trade Forex without a broker?

No, you cannot trade Forex without a broker. Brokers provide access to the Forex market, trading platforms, and necessary tools for executing trades.

How much money do I need to begin Forex trading?

The amount of money needed to begin Forex trading varies by broker. Some brokers allow you to start with as little as $100, while others may require a higher minimum deposit. It's important to choose a broker that aligns with your budget and trading goals.

What is a segregated fund in Forex trading?

A segregated fund in Forex trading refers to the practice of keeping client funds separate from the broker's operating funds. This ensures that client money is protected and can be returned to them in the event of the broker's insolvency.

Is customer support available in Norwegian?

Many brokers catering to Norwegian traders offer customer support in Norwegian. It's advisable to choose a broker that provides support in your preferred language to facilitate easier communication.

Is cryptocurrency trading available in Norway?

Yes, cryptocurrency trading is available in Norway. Many Forex brokers also offer cryptocurrency trading options, allowing you to trade various digital currencies alongside traditional Forex pairs.

Which Forex trading platform is best in Norway?

Popular Forex trading platforms in Norway include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are known for their user-friendly interfaces, advanced charting tools, and robust security features. For more information, check out this list of Forex brokers using MetaTrader 5.

How to open a trading account from Norway?

To open a trading account from Norway, follow these steps:

  1. Choose a regulated Forex broker.
  2. Complete the online application form on the broker's website.
  3. Submit the required identification and verification documents.
  4. Fund your trading account.
  5. Start trading once your account is approved.

Who regulates Forex trading in Norway?

Forex trading in Norway is regulated by the Financial Supervisory Authority of Norway (Finanstilsynet). This body ensures that brokers comply with financial regulations to protect traders and maintain market integrity.

Do Forex brokers need to be regulated by ESMA to operate in Norway?

While Forex brokers operating in Norway must comply with Norwegian regulations, they often also adhere to European Securities and Markets Authority (ESMA) guidelines due to Norway's membership in the European Economic Area (EEA). This ensures alignment with broader European financial regulations.

How can I verify that my broker has negative balance protection?

You can verify if your broker offers negative balance protection by checking their official website or contacting their customer support. This information is typically provided in the broker's account features or terms and conditions sections.

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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