Research suggests that there are around 14 million online traders in 2024 and 1.5 million traders are based in Europe. In this article, we review the 15 Best Forex Brokers in Europe with the pros and cons of each broker and useful tips for choosing a broker.
Some facts about Europe…
Before we continue, let’s highlight a few facts about Europe:
- There are 44 countries in Europe ( and 4 dependent territories)
- There are approximately 746 million people in Europe
- There are 9 currencies that fall under the European Union
- There are 28 financial organizations that regulate online trading in Europe
- Euronext is the largest stock exchange in Europe
How do I choose a broker?
When choosing a broker, there are a number of things you should keep in mind. For example, is EUR a supported currency and is the broker regulated by a European financial organization?
Make sure your broker is regulated by one of the following financial organizations:
- Ireland – Central Bank of Ireland (CBI)
- Hungary – Hungarian Financial Supervisory Authority
- Bulgaria– Financial Supervision Commission of Bulgaria (FSC).
- Denmark – Danish FSA
- Austria – Financial Market Authority (FMA)
- France – Autorite des Marches Financiers (AMF)
- Portugal – Portuguese Securities Market Commission (CMVM)
- Switzerland – Swiss Financial Market Supervisory Authority (FINMA)
- Great Britain – Financial Services Authority (FSA), Financial Conduct Authority (FCA)
- Romania – Romanian National Securities Commission
- Slovenia – Securities Market Agency (ATVP)
- Lithuania – Securities Commission of the Republic of Lithuania.
- Germany – Federal Financial Supervisory Authority (BAFIN)
- Latvia – Financial and Capital Market Commission
- Netherlands – Authority for the Financial Markets (AFM)
- Croatia – Financial Services Supervisory Agency
- Poland – Polish Financial Supervision Authority (KNF)
- Czech Republic – Czech National Bank
- Sweden – Swedish Financial Supervisory Authority (Finansinspektionen)
- Greece – Capital Market Commission
- Spain – National Securities Market Commission
- Italy – Commissione Nazionale per le Società e la Borsa (CONSOB)
- Denmark – Danish Financial Supervisory Authority (Danish FSA)
- Cyprus – Cyprus Securities and Exchange Commission (CYSEC)
- Belgium – Banking Finance and Insurance Commission (CBFA)
- Malta – Malta Financial Services Authority (MFSA)
- Luxembourg – Commission de Surveillance du Secteur Financier (CSSF)
- Estonia – Finantsinspektsioon
The broker you choose does not necessarily have to be based in Europe. What matters is if the country you live in is a supported country and whether you can make deposits in EUR or other EU currencies.
Other currencies that fall under the European Union include:
- Bulgaria: BGN (Bulgarian lev)
- Büsingen am Hochrhein (part of Germany): CHF (Swiss franc)
- Campione d’Italia (part of Italy) : CHF (Swiss franc)
- Croatia: HRK (Croatian kuna)
- Czech Republic: CZK (Czech koruna)
- Denmark: DKK (Danish krone)
- Hungary: HUF (Hungarian forint)
- Northern Cyprus (part of Cyprus): TRY (Turkish lira)
- Poland: PLN (Polish złoty)
- Romania: RON (Romanian leu)
- Sweden: SEK (Swedish krona)
There are a total of 9 currencies, including the EUR, that fall under the European Union currencies.
You will find a list of supported currencies for each broker and we recommend checking exchange rates before making any deposits.
How to choose a European broker?
Next, we’ll list a few steps you can follow to choose a broker:
- Make sure your country is one of the broker’s supported regions
- Make sure the broker you choose is regulated by one (or more) of the 28 organizations listed above.
- Make sure the broker supports one of the 9 European Union currencies listed above.
If the above criteria are met, also check the following:
- Does this broker offer tight spreads on the instruments you want to trade?
- Does this broker offer fixed or variable spreads?
- Which instruments can you trade with this broker?
- If you are new to trading, does this broker provide educational resources and demo accounts?
- Is the broker’s minimum deposit requirement too high for you?
- Which payment methods does this broker support?
- Are there any deposit or withdrawal fees?
- Does this broker offer multiple accounts and what trading conditions are offered?
- Is this broker’s customer support team multilingual and are they easy to access?
- Does this broker support platforms you are familiar with?
- Does this broker offer an active trader program, cashback rebates, a welcome bonus, a deposit bonus or a referral pogram?
- Does this broker charge commission fees and are trading fees high?
- Does this broker offer margin trading and what is the maximum leverage?
- What trading tools does this broker offer and will your account have negative balance protection or investor protection?
Our top 5 Forex Brokers in Europe are:
Exness
Overall Rating Rated #1 of USD 10 FSA, CBCS, FSC, FSC, FSCA, CySEC, FCA 📱 Platforms MT4, MT5 ₿ Crypto Yes 💵 Account Currency USD, EUR, ZAR, CHF, NZD, SGD, JPY, AUD Yes 1:unlimited 🛒 Instruments 100+ Forex, Cryptocurrencies, Energies, Metals, Shares, Stocks, Commodities 🏛️ Visit Broker
4.9/5
Recommended FX Brokers
Min. Deposit
Regulators
Islamic Account
Leverage
Exness was founded in 2008 and this broker is our top choice for European traders and beginners.
Exness offers flexible accounts with competitive spreads and there are 2 types of swap-free accounts that you can open.
Exness is a highly regulated broker and has more than 340,000 clients worldwide.
Customer support is available 24 hours a day via live chat, email and telephone.
New traders can visit Exness’s educational website to access plenty of helpful guides, tips and tutorials.
Exness Pros and Cons:
| ✔️Pros | ❌Cons |
| Investor protection | No trading bonus |
| Raw, tight spreads | |
| 6+ account currencies | |
| 108 currency pairs |
IC Markets
Overall Rating USD 200 FSA, CySEC, ASIC 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF Yes 1:500 🛒 Instruments Stocks, Commodities, Indices, Forex, Bonds, Crypto, Futures 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
IC Markets is a beginner-friendly broker that we recommend to Scalpers, EA traders and Day Traders.
IC Markets offers 3 types of accounts, 60 currency pairs and spreads from 0 pips.
If you are a European stock trader, then we recommend opening an account with IC Markets.
IC Markets Pros and Cons:
| ✔️Pros | ❌Cons |
| Multiple account types | No trading bonus |
| Tight spreads | High minimum deposit |
| 5+ base currencies |
FP Markets
Overall Rating USD 100 ASIC, CySEC 📱 Platforms MetaTrader 4, MetaTrader 5 ₿ Crypto Yes 💵 Account Currency EUR, GBP, USD, AUD, CAD, SGD, HKD, JPY, NZD, CHF Yes 1:500 🛒 Instruments Forex, Shares, Metals, Indices, Commodities, crypto 🏛️ Visit Broker
4.7/5
Minimum Deposit Regulators Islamic Account Leverage
FP Markets was founded in 2005 and this broker offers more than 10,000 CFDs.
FP Markets offers 60+ currency pairs and spreads from 0 pips.
FP Markets also offers MAM and PAMM accounts and is a great option for copy traders and EA traders.
FP Markets Pros and Cons:
| ✔️Pros | ❌Cons |
| Free VPS | Withdrawal fees |
| Good for CFD trading | No fixed spreads |
| Commission-free trading |
FXTM
Overall Rating USD 10 CySEC, FCA, FSC 📱 Platforms MT4, MT5, FXTM Trader ₿ Crypto No 💵 Account Currency USD, EUR, GBP, NGN Yes 1:2000 🛒 Instruments Metals, Stocks, CFDs, Indices, Forex, Commodities 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
FXTM has more than 4 million clients and this broker offers 3 types of accounts.
FXTM is beginner-friendly but there are also plenty of advanced tools and features for professional traders.
FXTM provides a great selection of educational content and a unique strategy-building tool.
FXTM Pros and Cons:
| ✔️Pros | ❌Cons |
| 1,000+ instruments | 4 base currencies |
| Many clients | Inactivity fees |
| Low minimum deposit |
FBS
16,000,000+ Traders Overall Rating USD 1 CySEC, IFSC, FSCA, ASIC 📱 Platfroms MT4, MT5, FBS trader, CopyTrade ₿ Crypto Yes 💵 Account Currency EUR, USD Yes 1:30 🛒 Instruments Forex, Indices, Stocks, Metals, Energies, Crypto Welcome bonus 🏛️ Visit Broker FBS has launched a new type of account specifically for trading cryptocurrencies. The new Crypto account has over 100 instruments with digital currencies. BTC, LTC, and ETH are just some of the instruments that will be available for trading against other cryptocurrencies or against more traditional currencies, commodities, and other instruments.
4.7/5
Minimum Deposit Regulators Islamic Account Leverage
FBS has more than 17 million clients and this broker was founded in 2009.
FBS offers 5 types of accounts and is a great option for beginners and copy traders.
FBS requires a low minimum deposit and accounts can be funded using several different payment methods.
FBS Pros and Cons:
| ✔️Pros | ❌Cons |
| Tight spreads | Low leverage |
| Recommended for copy traders | 2 account currencies |
| Trading bonuses | |
| Low minimum deposit |
XM
Overall Rating USD 5 ESMA, CySEC, ASIC, FCA, IFSC, DFSA 📱 Platforms Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform ₿ Crypto No 💵 Account Currency USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB Yes 1:1000 🛒 Instruments Commodities, Forex, Stocks, Crypto, Metals, Shares, Energies 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
XM is a popular broker with more than 5 million clients.
XM was founded in 2009 and is regulated by 6 financial organizations.
XM offers 4 types of accounts and 24/7 customer support. The customer support team can be reached via email, live chat and telephone.
XM Pros and Cons:
| ✔️Pros | ❌Cons |
| 1.000+ instruments | No fixed spreads |
| 6+ base currencies | Inactivity fees |
| Highly regulated | |
| Trading bonuses |
FxPro
Overall Rating USD 100 FCA, CySEC, FSCA 📱 Platforms FxPro platform, cTrader, MT4, MT5 Yes 💵 Account Currency EUR, USD, GBP, CHF, PLN, AUD, JPY, ZAR Yes 📊 Leverage 1:200 🛒 Instruments Forex, Metals, Indices, Shares, Energies
4.6/5
Minimum Deposit Regulators Islamic Account
FxPro is a copy trading broker that was founded in 2006 and this broker has more than 2.1 million clients.
FxPro is highly regulated and offers a wide range of instruments that can be traded manually or through the copy trading platform.
FxPro has won more than 95 international awards and is compatible with several platforms.
FxPro Pros and Cons:
| ✔️Pros | ❌Cons |
| 2,100+ instruments | High minimum deposit |
| 5+ account currencies | Inactivity fees |
| Recommended for copy traders |
easyMarkets
Overall Rating USD 25 CySEC, ASIC, FSA 📱 Platforms MT4, TradingView, easyMarkets app ₿ Crypto Yes 💵 Account Currency EUR, CAD, CZK, JPY, NZD, USD, SGD, CHF, GBP, MXN, AUD, PLN, TRY, CNY, HKD, NOK, SEK, ZAR, BTC Yes 1:400 🛒 Instruments Forex, Shares, Crypto, Metals, Commodities, Indices 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
easyMarkets was founded in 2001 and is a beginner-friendly broker that offers tight spreads and 7 types of accounts.
easyMarkets rewards its clients with promotions and trading bonuses and if you are new to trading you can visit the easyMarkets academy to learn the basics of trading.
easyMarkets provides plenty of high-quality market analysis resources and a financial calendar.
easyMarkets Pros and Cons:
| ✔️Pros | ❌Cons |
| 15+ base currencies | Inactivity fees |
| Fixed spreads | No managed accounts |
| Plenty of educational & analysis content | Not available in 20 countries |
HYCM
Overall Rating USD 100 FCA, CySEC, CIMA, DIFC 📱 Platforms MT4, MT5 ₿ Crypto Yes 💵 Account Currency USD, GBP, EUR, AED Yes 1:500 🛒 Instruments Forex, Stocks, Indices, Cryptocurrencies, Commodities, ETFs 🏛️ Visit Broker
4.3/5
Minimum Deposit Regulators Islamic Account Leverage
HYCM was founded in 1997 and is one of the oldest brokers in the industry.
HYCM has more than 30 million clients and offers VIP accounts and account managers for professional traders.
HYCM also provides educational content for beginners to help them learn the basics and you can open a demo account to practice.
HYCM Pros and Cons:
| ✔️Pros | ❌Cons |
| 300+ instruments | High minimum deposit |
| Beginner-friendly | Inactivity fees |
| Tight spreads | |
| Commission-free trading |
Blackbull Markets
Overall Rating USD 0 FMA 📱 Platforms MT4, MT5 ₿ Crypto No 💵 Account Currency USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, ZAR Yes 1:500 🛒 Instruments 26,000+ Forex, Indices, Commodities, Metals, Energy 🏛️ Visit Broker Blackbull markets
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
Blackbull Markets is an ECN broker that is based in New Zealand and this broker was founded in 2014.
Blackbull Markets offers 3 types of trading accounts, thousands of tradable instruments and tight spreads.
Blackbull Markets Pros and Cons:
| ✔️Pros | ❌Cons |
| Commission-free trading | Withdrawal fees |
| No minimum deposit | No fixed spreads |
| 26,000+ instruments | $2,000 deposit on ECN account |
| 6+ account currencies |
Capital.com
Overall Rating USD 20 FCA, ASIC, CySEC 📱 Platforms MT4, TradingView, Capital.com CFD app ₿ Crypto Yes 💵 Account Currency GBP, USD, EUR, PLN, AUD No 📊 Leverage 1:30 🛒 Instruments Crypto, Forex, Commodities, Indices, Shares 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account
Capital.com was founded in 2016 and is a popular CFD broker with more than 1.8 million clients.
Capital.com is highly regulated and is audited by Deloitte. This broker is beginner-friendly and also caters to professional traders and corporate clients.
Capital.com provides a great selection of educational resources and trading guides.
Capital.com Pros and Cons:
| ✔️Pros | ❌Cons |
| 6,100+ instruments | Low leverage cap |
| Beginner-friendly | No swap-free accounts |
| Low minimum deposit | No trading bonus |
| Multiple account types |
HFM
Overall Rating USD 5 FCA, FSA, FSCA, DFSA, CySEC, FSC 📱 Platfoms MT4, MT5 ₿ Crypto No 💵 Account Currency USD, ZAR, USD, NGN Yes 1:1000 🛒 Instruments Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, Stocks, ETFs 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
HFM (HotForex) was founded in 2010 and is a beginner-friendly broker with more than 3 million clients.
HFM is regulated by 6 financial organizations in 25+ jurisdictions and also offers VPS hosting and access to AutoChartist.
HFM also offers a loyalty program and 4 types of accounts.
HFM Pros and Cons:
| ✔️Pros | ❌Cons |
| Highly regulated | 4 account currencies |
| Multiple account types | Inactivity fees |
| Trading promotions | |
| Low minimum deposit |
IQ option
Overall Rating USD 10 CySEC 📱 Platforms IQ Option platforms ₿ Crypto Yes 💵 Account Currency USD, EUR, GBP, ZAR Yes 1:500 🛒 Instruments CFDs, Forex, Crypto, Stocks, Commodities, Indices 🏛️ Visit Broker
3.1/5
Minimum Deposit Regulators Islamic Account Leverage
IQ Option is a Cyprus-based broker that was founded in 2013 and has more than 1.3 million clients.
IQ Option has won several awards over the years and provides a wide range of risk management tools and trading features.
IQ Option hosts tournaments with big prize pools on a regular basis and this broker also has a charity foundation that assists the least-developed African countries.
IQ Option Pros and Cons:
| ✔️Pros | ❌Cons |
| 24/7 customer support | 4 account currencies |
| Low min. deposit | No trading bonuses |
| Trading tournaments | |
| Charity Foundation |
FXCM
Overall Rating USD 50 ASIC, FCA, FSCA 📱 Platforms Trading Station, MT4, NinjaTrader, ZuluTrade, Capitalise AI, TradingView ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, CHF Yes 1:200 🛒 Instruments Forex, Shares, Indices, Crypto, Commodities 🏛️ Visit Broker
4.6/5
Minimum Deposit Regulators Islamic Account Leverage
FXCM is a beginner-friendly broker that offers one account with competitive trading conditions that can be connected to multiple platforms.
FXCM provides plenty of updated market analysis insights on many instruments and an entire section of the website i dedicated to educational content for beginners.
We recommend opening an account with FXCM if you are an active trader or trading CFDs.
FXCM Pros and Cons:
| ✔️Pros | ❌Cons |
| Multiple platforms | 4 account currencies |
| Trading bonuses | Inactivity fees |
| Rebate and Referral rewards | |
| Copy Trading broker |
CMTrading
USD 100 FSCA, FSA 📱 Platforms MT4, CM Trading WebTrader, Copykat Yes 💵 Account Currency 19 Yes 1:400 🛒 Instruments Forex, Commodities, Stocks, Indices, CryptocurrenciesMinimum Deposit Regulators Islamic Account Leverage
CMTrading is a popular broker based in South Africa and this broker was founded in 2012.
CMTrading offers a wide range of instruments and 4 types of accounts with competitive spreads.
CMTrading is a great option for beginners and copy traders, but this broker also provides plenty of advanced trading tools and features.
Silver, Gold and Premium accounts get a personal account manager.
CMTrading Pros and Cons:
| ✔️Pros | ❌Cons |
| 1 mil+ clients | Minimum deposit may be high for some |
| Welcome bonus | |
| Multiple account types | |
| Beginner-friendly |
Conclusion
There are many things to consider when choosing a broker. As long as you can fund your account using EUR or one of the other 9 currencies and your country is not restricted, there are dozens of brokers to choose from.
If you are new to trading, we recommend choosing a beginner-friendly broker that provides educational material and demo accounts.
Brokers that offer Cent accounts and low minimum deposits are usually a great option for beginners who are ready to trade.
Most of the brokers in this article are beginner-friendly.
For more experienced traders, we recommend choosing a broker that has an active trader program, account managers and plenty of trading tools and research material.
Choosing a broker can be a complicated process, but we hope that this review of the 15 Best Forex Brokers in Europe has made it easier for you to choose one.
Good luck with your trading!
Disclaimer
Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.
The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.
