Best Forex Brokers in Russia 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the best Russian Forex brokers based on our analysis:
- 1
FxPro - Best Forex broker Russia - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 2
AMarkets - A wide range of trading assets. Extensive analytical capabilities using modern tools and trading robots. No commissions on many operations. - 3
Deriv - Simple and fast account opening process. A wide variety of account types cater to different trading needs. Low commission structure. - 4
FXOpen - Wide range of trading assets. Low spreads and commissions. Support for various trading platforms. - 5
InstaForex - Large selection of trading instruments. PAMM accounts and the ForexCopy automatic trade copying service for passive income. 24/7 efficient customer support. - 6
Fibo Group - A wide selection of trading and investment accounts. Low spreads, which facilitates more profitable trading. A wide range of payment methods. - 7
Alpari - A wide range of trading accounts. Flexible conditions for depositing and withdrawing funds. Diversity of trading platforms. - 8
- 9
Gerchik & Co - Transparent information about the broker's owners. A large number of trading accounts. Decent services that can help improve Forex trading. - 10NPBFX - A rich selection of analytical tools and resources. Extensive education section. A variety of trading account types.
In 2024, the Russian Forex market offers a multitude of trading options. Our top list of the best Forex brokers in Russia will help you choose a reliable platform suitable for your trading strategies.
Top-10 Best Forex Brokers in Russia
Despite the "Forex Law" enacted in 2016, not all Forex brokers working with Russian traders must have a license from the Central Bank of Russia. Indeed, many offshore Forex brokers have left the market, but many have also stayed. Nevertheless, it cannot be denied that a Russian trader is more protected when trading with a licensed broker. However, due to the limited trading conditions offered by Russian licensed Forex brokers, we have decided to create our top list of the best Forex brokers in Russia.
1. FxPro
FxPro 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. 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
Pros
- 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.
2. AMarkets
AMarkets is a versatile broker offering a full range of services in the Forex market. It enables independent trading and investing funds in copy trading with equal success.
Traders can access several accounts with low spreads, permitted scalping, and fast trade execution. Up-to-date analytics, valuable services, and rapid fund withdrawal support a stable technical platform.
Investors who are not keen on engaging in independent trading can still achieve significant profits by copying the trades of successful traders. Building a portfolio is time-efficient and offers the possibility of passive income.
Pros and Cons of AMarkets
Pros
- A wide range of trading assets.
- Extensive analytical capabilities using modern tools and trading robots.
- No commissions on many operations.
- Convenience and simplicity of opening an account and managing it.
Cons
- Not the most extensive educational materials.
- On some assets, spreads are higher than those of competing Forex brokers.
3. Deriv
Deriv is an appealing choice for a wide array of traders, particularly those who are just beginning or are at an intermediate level. Its user-friendly approach, diverse platforms, and low-cost structure make it ideal for individuals seeking a straightforward trading experience. While it may not fully satisfy the needs of highly advanced traders due to some limitations in educational and analytical resources, Deriv's overall offering is solid, making it a reliable and accessible broker for most trading requirements.
Pros and Cons of Deriv
Pros
- Simple and fast account opening process.
- A wide variety of account types cater to different trading needs.
- Low commission structure.
- A wide range of trading platforms.
- High-quality technical support with fast and effective responses.
Cons
- Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
- Educational materials are confined to a blog and lack comprehensive learning resources.
4. FXOpen
FXOpen is a highly regulated broker with licenses from leading international bodies, which guarantees the safety of investments and compliance with strict standards. The broker offers a wide range of trading instruments, allowing traders to diversify their portfolios. Low spreads and commissions make FXOpen an attractive choice for those looking for a cost-effective trading environment. The availability of various platforms gives traders the flexibility to choose a trading instrument.
FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support. The broker is especially attractive to those who seek variety in trading tools and prefer to use advanced trading platforms.
Pros and Cons of FXOpen
Pros
- Wide range of trading assets.
- Low spreads and commissions.
- Support for various trading platforms.
Cons
- Lack of educational materials.
5. InstaForex
InstaForex is a popular broker that offers a wide range of trading instruments and specialized accounts. The unique possibility of accruing interest on the account balance, ForexCopy's automatic transaction copying service, and support for cryptocurrency trading make InstaForex an attractive choice for a variety of traders. Customer support is available round the clock, and account replenishment does not charge any commission, which is a significant plus.
InstaForex is suitable for beginner traders and investors interested in passive income through PAMM accounts, as well as for those looking for innovative features such as cryptocurrency trading and automatic trade copying.
Pros and Cons of InstaForex
Pros
- Large selection of trading instruments.
- PAMM accounts and the ForexCopy automatic trade copying service for passive income.
- 24/7 efficient customer support.
- Wide range of methods for depositing and withdrawing funds.
- Decent analytical section.
Cons
- Trading commissions are above average.
- No trading accounts with market execution of orders (ECN or STP).
- Broker commission on fund withdrawals.
6. FIBO Group
FIBO Group is suitable for various types of traders, including beginners and experienced ones. The broad selection of accounts and trading platforms allows every trader to find an appropriate solution. Additionally, educational materials and analytics will aid in skill development and making informed trading decisions.
The broker offers competitive trading conditions, various instruments, and robust support. However, fees and the absence of certain assets may limit its potential.
Pros and Cons of Fibo Group
Pros
- A wide selection of trading and investment accounts.
- Low spreads, which facilitates more profitable trading.
- A wide range of payment methods.
- Availability of various trading platforms.
- Comprehensive analytics and educational materials.
Cons
- An inactivity fee.
- Withdrawal fees.
- The absence of stocks and ETFs in the range of instruments.
7. Alpari
Alpari has established itself as a stable and reliable broker, providing its services on Forex for over 20 years. The broker is widely popular among professional traders due to its wide range of trading accounts and instruments and convenient and practical services for investing—PAMM accounts and portfolios. Beginning traders will find quality support, training courses, and favorable trading conditions at Alpari.
Overall, Alpari is an excellent choice for beginners and professional traders.
Pros and Cons of Alpari
Pros
- A wide range of trading accounts.
- Flexible conditions for depositing and withdrawing funds.
- Diversity of trading platforms.
Cons
- Licensing in the Comoros does not provide the same level of investor protection as in countries with stricter regulators.
- Fees for fund withdrawal and inactivity charges.
- Limited choice in terms of different asset classes.
8. Grand Capital
Grand Capital is a broker that offers a wide range of trading instruments and account types, making it an attractive choice for traders with different strategies and experience. Narrow spreads, especially on major currency pairs, ensure competitive trading conditions and the availability of educational materials that support novice and experienced traders in their development. The 24/7 multi-lingual support ensures that assistance is promptly provided.
Grand Capital will suit traders who appreciate a variety of trading tools and account types, as well as those who actively utilize educational resources to enhance their skills. The broker will be especially attractive for those who prefer to use MetaTrader platforms and are not concerned about the potential risks of the lack of strict regulation.
Pros and Cons of Grand Capital
Pros
- Diversity of trading account types.
- Tight spreads.
- A wide range of trading assets.
- Multilingual support 7 days a week, 24 hours a day.
Cons
- It is not regulated by leading financial regulators.
- High swaps.
- Lack of MetaTrader alternatives.
9. Gerchik & Co
Gerchik & Co. serves as a commendable platform for traders of all levels. The wide array of trading instruments and platforms makes this broker attractive to novices and seasoned traders.
The educational materials provided by the broker can be particularly beneficial for beginners and those looking to deepen their knowledge. In addition, the broker offers a variety of technical support communication options, which can be valuable for traders requiring immediate assistance.
This broker is suitable for novice and experienced traders due to its comprehensive approach and attention to detail regarding trading and education.
Pros and Cons of Gerchik & Co
Pros
- Transparent information about the broker's owners.
- A large number of trading accounts.
- Decent services that can help improve Forex trading.
- Educational courses, webinars, analytics.
- Opportunity for passive income on TIMA accounts.
- Contests on demo accounts and broker promotions.
Cons
- High commission for transactions on certain types of accounts.
- The website and personal account area may seem inconvenient (according to reviews).
- High deposit requirements for training or using services.
10. NPBFX
NPBFX is suitable for novice and experienced traders, thanks to its extensive educational program, various account types, and set of trading instruments. The broker is particularly noteworthy for those who value quality technical analysis and a diversity of trading instruments.
Despite certain drawbacks, NPBFX provides quality service and can be used by most traders.
Pros and Cons of NPBFX
Pros
- A rich selection of analytical tools and resources.
- Extensive education section.
- A variety of trading account types.
- Numerous available methods for depositing and withdrawing funds.
Cons
- High commission per trade on the Zero account.
- Lack of alternatives to the MetaTrader 4 platform.
- Regulation in an offshore jurisdiction.
Which Forex Broker is Better - With a Russian License or a Foreign One
The presence of a license from the Central Bank of Russia is not the only criterion for reliability. Nonetheless, a Russian trader must understand why the best Forex brokers may not have a license from the CBR.
| Criteria | Broker with a CBR License | Broker with a Foreign License |
|---|---|---|
| Legal Protection | Full legal protection | No legal force, rely on reputation |
| Registration & Offices | Registered in Russia with local offices | Not registered in Russia, no operational offices here |
| Leverage Limit | Limited to 1:40 | Not limited |
| Trading Options | Only currency pairs | Currency pairs and CFDs on various assets |
| Consulting & Trust Management | Cannot provide | May offer services |
| Bonuses & Promotions | No bonuses, promotions, or contests | Potential for bonuses, promotions, and contests |
| Deposit & Withdrawal Methods | Only via bank transfer or a broker's bank card | Various methods, including cryptocurrencies |
Ultimately, choosing the type of license that best suits your trading goals comes down to personal preference. Understanding both options is vital to making an informed decision.
How to Choose a Reliable Broker
Selecting a reliable Forex broker in Russia is crucial for successful trading. To make the right choice, pay attention to the following key factors:
Broker Regulation. Ensure that the broker is registered and licensed to operate. In Russia, the regulator is the Central Bank of Russia (CBR).
Account Types. Check whether the broker offers Forex account types that match your experience level and financial capabilities.
Trading Platforms. Evaluate the trading platforms offered and their convenience for your needs.
Trading Conditions. Study the trading conditions, including spreads, commissions, minimum deposit, and lot size.
Customer Support. Check the quality of customer service, the support schedule, and ways to communicate with them.
By adhering to these criteria, you can choose a reliable Forex broker that meets your needs and ensures successful trading. Opening a demo account to assess the platform and conditions is also recommended before moving to actual trading.
How the List of Top Forex Brokers in Russia was Compiled
The best Forex brokers in Russia were selected based on critical criteria:
The broker positions are based on our independent Forex broker list.
These brokers have received high scores according to our methodology.
All the presented companies are popular in Russia and provide their services to Russian traders.
These standards ensure that all brokers in the list meet strict safety requirements and offer conditions conducive to effective Forex trading.
Conclusion
This top list of Forex brokers in Russia will help novice and professional Forex market participants choose a suitable company. Whether you rely on complete legal protection or are enticed by the favorable trading conditions of a broker - all of this has been considered in compiling the list of the best brokers in Russia.
FAQ
Which Forex brokers operate in Russia?
The following Forex brokers operate in Russia:
Which broker is the best in Russia?
Currently, the best brokers in Russia are considered to be:
- Alpari — due to its long history and high level of trust from traders.
- AMarkets — because of a wide range of trading instruments and quality support.
- FxPro — for professionalism and transparent trading conditions.
Which broker should I choose for trading?
The choice of a broker depends on your needs and strategy. We recommend paying attention to the following aspects:
- Broker's reputation and reliability.
- Trading conditions (spreads, commissions).
- Licenses and regulation.
- Platforms and analysis tools.
- Customer support.
Which brokers are the most reliable?
The most reliable brokers are those with a long history of operation and regulation by reputable organizations. These include:
- FxPro — regulated by FCA (UK), and CySEC (Cyprus).
- Alpari — has a long history of operation.
- FXOpen — regulated by FCA (UK), CySEC (Cyprus), and ASIC (Australia).
How do brokers make money?
Brokers make money through:
- Spreads — the difference between the bid and ask prices of currency pairs.
- Commissions — fixed fees for transactions or account management.
- Swaps — charges for carrying open positions overnight.
- Additional services — such as providing analytics, signals, and education.
Can you trade Forex in Russia?
Yes, you can trade Forex in Russia. Many brokers offer their services in Russia and are regulated by the Central Bank of Russia, which provides additional protection for traders.
How is trading income taxed in Russia?
Trading income on Forex in Russia is subject to personal income tax (PIT) at a rate of 13%. Traders are required to independently declare their income and pay the tax.
