Best European Regulated Forex Brokers for 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top 10 European regulated Forex brokers based on our analysis:
- 1
IC Markets EU - Best European regulated broker - 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. - 4
CMC Markets EU - Low trading fees. Wide range of markets and products. Access to the popular MetaTrader 4 and CMC Markets platforms. - 5FxPro EU - A wide selection of trading accounts. Various trading platforms. A diverse range of available markets and products.
- 6
Deriv EU - Simple and fast account opening process. Low commission structure. Convenient methods for account funding and withdrawal without commission. - 7
- 8
ActivTrades Europe - Wide range of trading assets. A wide variety of trading platforms. Extensive training materials including webinars, videos, articles and guides. - 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.
The regulated Forex market in Europe offers a high level of trust and security, ensuring traders operate within a reliable trading environment. This comprehensive list of the best European-regulated Forex brokers will guide you in finding the top trading platforms for 2024, simplifying your decision-making process.
List of the Best European Regulated Forex Brokers for 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. CMC Markets
CMC Markets EU has been a reliable CFD and Forex broker in the business for a long time. Top-tier financial authorities regulate the company, offers an excellent trading platform, and has low commission fees.
We believe it is an excellent choice for beginners and experienced traders. CMC Markets is a good option if you seek a trustworthy and reputable broker with extensive experience.
Pros and Cons of CMC Markets EU
Pros
- Low trading fees.
- Wide range of markets and products.
- Access to the popular MetaTrader 4 and CMC Markets platforms.
- Extensive analytical materials.
- Comprehensive educational materials.
Cons
- Limited account options.
- Inactivity fee.
- No online chat.
5. 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.
6. 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.
7. 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.
8. 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.
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.
Forex Trading Regulation in Europe
Forex trading in Europe is governed by stringent regulatory frameworks designed to protect traders and ensure market integrity - the primary regulatory bodies overseeing Forex trading enforce high standards to maintain a secure and transparent trading environment.
MiFID II and Consumer Protection
The Markets in Financial Instruments Directive II (MiFID II), implemented in 2018, introduced significant reforms to enhance transparency, improve investor protection, and increase market efficiency across the European Union. This legislation requires Forex brokers to adhere to strict standards, reducing the risk of fraud and safeguarding consumer interests.
Regulators in the European Union
In Europe, several regulatory bodies play a significant role in overseeing Forex trading and ensuring market integrity. These include:
Cyprus Securities and Exchange Commission (CySEC): CySEC is responsible for licensing and supervising investment firms in Cyprus, ensuring compliance with European regulations. All Forex brokers operating in Cyprus must register with CySEC and adhere to its regulatory standards, which include maintaining sufficient capital, implementing robust risk management practices, and ensuring transparency in operations.
Autorité des Marchés Financiers (AMF): The AMF regulates financial markets in France, overseeing the proper functioning of markets and ensuring the protection of investors. The AMF enforces rigorous regulatory standards and monitors the activities of brokers to maintain market integrity.
Federal Financial Supervisory Authority (BaFin): BaFin is the regulatory authority in Germany responsible for supervising banks, financial services institutions, insurance undertakings, and trading in securities. BaFin ensures that financial institutions comply with national and European regulations, safeguarding the stability and integrity of the financial system.
Commissione Nazionale per le Società e la Borsa (CONSOB): CONSOB is the Italian regulatory authority responsible for regulating the Italian securities market. It aims to protect investors, ensure market transparency, and foster the development of the financial market.
Other European Regulators: Various other national regulators across Europe, such as the Financial Supervisory Authority (FI) in Sweden, the Central Bank of Ireland, and the Financial Market Authority (FMA) in Austria, contribute to a cohesive regulatory environment ensuring that Forex trading is conducted in a fair, transparent, and secure manner.
Requirements and Restrictions for European Regulated Brokers
Top European-regulated Forex brokers must adhere to several stringent requirements and restrictions to protect traders and ensure market stability.
Capital Requirements
Brokers must maintain a minimum net capital to meet their financial obligations and protect clients from broker insolvency. The capital requirements vary depending on the services offered by the broker and the country of operation. For instance, brokers regulated by CySEC need to maintain a minimum capital requirement of €125,000 to €730,000, depending on their business activities.
Leverage Restrictions
Leverage is limited to a maximum of 30:1 for major currency pairs and lower for minor pairs and commodities. This restriction aims to reduce the risk of significant losses for traders and promote responsible trading practices.
Negative Balance Protection
Brokers must provide negative balance protection, ensuring that traders cannot lose more than their initial investment. This rule is designed to prevent traders from incurring excessive losses and facing financial hardship, a mandatory requirement under ESMA regulations.
Registration with National Regulators
All Forex brokers must be registered with their respective national regulators, such as CySEC, BaFin, AMF, and CONSOB. This registration ensures compliance with regulatory standards and subjects brokers to regular oversight, enhancing their credibility and protecting traders from fraudulent activities.
Ensuring Fund Security
Brokers are required to segregate client funds from their operational funds. This segregation protects client funds from being used for other purposes, providing an additional layer of security and ensuring that client assets are safeguarded.
Investor Compensation Schemes
European regulated brokers must participate in investor compensation schemes, which compensate clients in case of broker insolvency. For example, CySEC-regulated brokers participate in the Investor Compensation Fund (ICF), providing compensation of up to €20,000 per client. This measure further enhances the protection of traders' funds.
How We Compiled the List of the Top European Regulated Forex Brokers
The selection of the top Forex brokers regulated in Europe was based on well-balanced criteria:
- Our ranking of brokers is based on a comprehensive Forex brokers list, which evaluates multiple aspects of each broker's offerings and performance.
- The best brokers received high scores according to our methodology, which includes assessing factors such as regulatory compliance, trading conditions, platform usability, customer support, and overall reputation.
- All the listed companies are regulated by prominent European regulatory bodies, ensuring that traders have access to brokers that comply with stringent European regulatory standards and provide a secure trading environment.
These standards ensure that our list of Forex brokers meets stringent reliability criteria and offers the trading conditions necessary for safe and effective Forex market operations. By adhering to these criteria, we aim to provide traders with trustworthy options for their Forex trading needs in Europe.
FAQ
Which Forex broker is best in Europe?
The best Forex broker in Europe can vary depending on individual trading needs and preferences. However, some of the top-rated brokers include IC Markets, Pepperstone, and FxPro, known for their regulatory compliance, comprehensive trading platforms, and excellent customer service. It's important to choose a broker that fits your specific trading style and requirements.
What is the best regulated broker?
The best regulated broker is typically one that adheres strictly to regulatory standards and offers a high level of transparency and security. Brokers like Pepperstone, CMC Markets, and Admirals are highly regarded for their strong regulatory compliance with bodies such as the FCA, CySEC, and BaFin, ensuring they maintain high standards of operation.
How do I verify if a Forex broker is regulated in Europe?
To verify if a Forex broker is regulated in Europe, you can check the broker's registration and regulatory status on the website of the respective regulatory body, such as CySEC, FCA, or BaFin. Brokers usually provide their registration number on their website, which you can cross-check with the regulator's database for confirmation.
What is ESMA, and what does it mean for Forex traders?
ESMA, the European Securities and Markets Authority, is an independent EU authority that contributes to safeguarding the stability of the European Union's financial system. For Forex traders, ESMA's regulations mean enhanced investor protection through measures like leverage limits, negative balance protection, and standardized risk warnings.
Which broker is good for beginners in Europe?
For beginners, brokers that offer educational resources, user-friendly platforms, and robust customer support are ideal. AvaTrade, HF Markets, and FBS are often recommended for beginners due to their comprehensive educational tools, intuitive platforms, and strong support systems.
What are the differences in protections between brokers regulated by European regulators versus brokers regulated offshore?
Brokers regulated by European regulators must comply with stringent regulations, including capital requirements, client fund segregation, and investor compensation schemes. Offshore brokers may not adhere to such rigorous standards, potentially exposing traders to higher risks and limited recourse in case of disputes or insolvency.
What is negative balance protection?
Negative balance protection is a regulatory requirement that ensures traders cannot lose more money than they have deposited into their trading account. This protection prevents traders from incurring debts to their brokers due to leveraged trading losses, offering a significant safeguard against excessive losses.
How to choose a reliable broker in Europe?
To choose a reliable broker in Europe, consider factors such as regulatory status, trading conditions, platform usability, customer support, and reputation. Verify the broker's regulation with bodies like CySEC or BaFin, review trading fees and conditions, test the platform for ease of use, and read reviews from other traders.
What commissions and spreads do brokers charge in Europe?
Commissions and spreads vary by broker. Typically, brokers in Europe charge a combination of spreads (the difference between the bid and ask price) and commissions per trade. Some brokers offer zero-commission trading with higher spreads, while others may offer tighter spreads with a commission fee per transaction. It’s essential to compare these costs across brokers to find the most cost-effective option for your trading style.
What platforms do brokers in Europe provide?
Brokers in Europe commonly provide platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and proprietary platforms. These platforms offer various tools and features, including advanced charting capabilities, technical indicators, automated trading options, and user-friendly interfaces. The choice of platform should align with your trading needs and experience level.
