Best Forex Brokers in Romania for 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top 10 Forex brokers in Romania based on our analysis:
- 1
IC Markets EU - Best Forex broker in Romania - 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
HF Markets EU - Wide selection of trading assets. A variety of educational materials and analytical reviews. Customer support is available in many languages. - 10
Oanda EU - Tight spreads. Efficient and secure processes for account funding and withdrawals. Extensive market and product offerings.
This comprehensive guide is designed to help you find a broker that perfectly aligns with your trading strategy while protecting your investments. Each broker featured here offers unique features, state-of-the-art technology, and stringent security measures, ensuring an outstanding trading experience in Romania's dynamic Forex market.
List of the Best Forex Brokers in Romania 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. 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.
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 Romania
In Romania, the regulation of Forex and CFD brokers is overseen by the Financial Supervisory Authority (ASF), which serves as the central regulatory body. The ASF ensures that brokers comply with stringent standards designed to protect investors, maintain market integrity, and promote financial stability. These regulations include requirements for financial transparency, the segregation of client funds, and the provision of accurate risk information, including mandatory risk warnings and leverage limitations to help mitigate significant losses for traders.
Moreover, Romania, as a member of the European Union, adheres to the Markets in Financial Instruments Directive (MiFID II). This EU-wide legislation aims to harmonize and enhance the efficiency of financial markets across Europe, providing additional layers of protection for investors through stringent standards for operational transparency and risk management.
This robust regulatory framework makes Romania a reliable and secure environment for Forex trading. Romanian traders can trust that their interests are protected and that their interactions with brokers are stable and secure, creating optimal conditions for successful Forex trading.
How We Compiled the List of Top Forex Brokers in Romania
Our approach to identifying the leading Forex trading platforms in Romania involved meticulous precision and a comprehensive set of benchmarks:
Thorough Research and Evaluation: We started by assembling an extensive Forex trading broker 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.
Regulatory Adherence: We focused on brokers regulated by recognized financial authorities such as the Financial Supervisory Authority (ASF) 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 Romanian and accessible communication channels. We also considered brokers that offer localized services, such as websites and educational resources in Romanian, to better serve Romanian 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.
FAQ
What is the best Forex broker?
The best Forex broker varies based on individual needs and preferences, but some of the top-rated brokers globally include IC Markets, Pepperstone, and AvaTrade. It is essential to consider factors like regulation, trading platforms, fees, and customer support when choosing the best broker for you.
Is Forex trading profitable?
Forex trading can be profitable, but it also carries significant risks. Success depends on factors such as trading strategy, market knowledge, risk management, and experience. It's important to educate yourself and practice trading before committing significant funds.
What is the safest Forex to trade?
Major currency pairs like EUR/USD, GBP/USD, and USD/JPY are considered the safest to trade due to their high liquidity and lower volatility compared to exotic currency pairs.
Which are the top Forex brokers in the world?
Top Forex brokers globally include IC Markets, Pepperstone, AvaTrade, RoboForex, and FxPro. These brokers are known for their robust regulatory compliance, comprehensive trading platforms, and excellent customer service.
Is Forex good for beginners?
Forex trading can be suitable for beginners if they take the time to learn the basics, understand the risks, and start with a demo account. Educational resources and practicing with virtual funds can help new traders gain confidence and experience.
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 start with an amount you can afford to lose while you learn the market. For more information check out our guide on the lowest minimum deposit Forex broker.
Can I trade Forex without a broker?
No, you cannot trade Forex without a broker. Brokers provide the necessary platform and access to the currency markets. They act as intermediaries between you and the market.
What is the best time to trade Forex in Romania?
The best time to trade Forex in Romania is during the overlapping hours of major Forex sessions, such as the London/New York session overlap, which occurs between 3:00 PM and 7:00 PM EET. This period offers higher liquidity and potentially more trading opportunities. For more details on trading hours, visit our Forex market time guide.
What are the best Forex brokers for beginners in Romania?
Some of the best Forex brokers for beginners in Romania include XM, eToro, and AvaTrade. These brokers offer user-friendly platforms, educational resources, and demo accounts to help new traders get started.
How to trade Forex in Romania?
To trade Forex in Romania, you need to follow these steps:
- Choose a regulated Forex broker.
- Open and verify your trading account.
- Fund your account with the minimum deposit.
- Download and install the trading platform.
- Develop a trading strategy and start trading.
Is Forex safe in Romania?
Forex trading in Romania is safe if you choose a regulated broker and adhere to sound risk management practices. Ensure your broker is regulated by the Financial Supervisory Authority (ASF) or another reputable authority.
Do I pay taxes for Forex trading?
Yes, profits from Forex trading are subject to taxation in Romania. You are required to report your earnings and pay taxes according to Romanian tax laws. It's advisable to consult a tax professional for detailed guidance.
Is Forex trading legal in Romania?
Yes, Forex trading is legal in Romania. It is regulated by the Financial Supervisory Authority (ASF), which ensures that brokers operate in a transparent and fair manner.
How to verify if a Forex broker is regulated in Romania?
To verify if a Forex broker is regulated in Romania, check the Financial Supervisory Authority (ASF) website for a list of authorized brokers. Additionally, you can contact ASF directly to confirm the broker's regulatory status.
Can I trade the Romanian Leu?
Yes, you can trade the Romanian Leu (RON) in the Forex market. However, it is considered an exotic currency pair and may have higher spreads and lower liquidity compared to major currency pairs.
How can I fund my trading account?
You can fund your trading account using various methods, including bank transfers, credit/debit cards, and electronic payment systems like PayPal, Skrill, or Neteller. The available options may vary by broker, so check with your broker for specific funding methods.
