5 Best European-Regulated Brokers
Last Update: March 11th, 2024
The 5 best European-Regulated Brokers revealed. We have explored and tested several prominent brokers to identify the listed 5 best.
In this in-depth guide, you’ll learn:
- What is a European-Regulated Forex broker?
- Who are the best 5 European-regulated Forex Brokers?
- List of best regulated Forex brokers.
- Best Forex Broker in Europe reddit.
- Long-term investing brokers in Europe.
- Pros and cons of each broker.
- Popular FAQs about European-Regulated Forex brokers.
And lots more…
So, if you’re ready to go “all in” with 5 best European-Regulated Forex brokers…
Let’s dive right in…
5 Best European-Regulated Forex Brokers (2024*)
- ☑️NAGA – Overall, Easy to use and it offers low fees.
- ☑️AvaTrade – Best Regulated Forex Broker.
- ☑️OANDA – Provides a wide range of currency pairs.
- Tickmill – Offers traders competitive margins.
- HFM – Transparent pricing model and regulatory oversight.
🏆 10 Best Forex Brokers
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | SVGFSA | USD 5 | Visit Broker >> |
What is a European-Regulated Forex broker?
All investment and trading activities in the Europe fall under the Markets in Financial Instruments Directive II (MiFID II), mandated by the European Securities and Markets Authority (ESMA). ESMA seeks to foster fair, competitive, and resilient markets, which is achieved via comprehensive regulation.
While ESMA’s rigorous framework envelops all financial operations with derivatives, thus making trading a lot safer as a whole, it also makes it more challenging for traders to find a competitive advantage. Brokers in Europe cannot provide financial services to traders unless they adhere to ESMA’s regulations.
Top 5 European-Regulated Forex Brokers
| 👥 Brokers | 👉 Open Account | 💰 Minimum Deposit | ⚖️ Regulation | 💻 Demo Account |
| NAGA | 👉 Open Account | USD $250 | CySEC (Cyprus) for NAGA Global (CY) Ltd and FSA (Seychelles) for The NAGA Group AG | ✅ |
| AvaTrade | 👉 Open Account | USD $100 | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC | ✅ |
| Oanda | 👉 Open Account | USD $0 | FCA, ASIC, IIROC, NFA | ✅ |
| Tickmill | 👉 Open Account | USD $100 | FSA, FCA | ✅ |
| HFM | 👉 Open Account | USD $100 | FSCA | ✅ |
NAGA
Overview
NAGA operates in Europe under the oversight of the Cyprus Securities and Exchange Commission (CySEC) which in turn is a member of the Committee of the European Securities and Markets Authority (ESMA), ensuring compliance with rigorous European financial regulations and instilling trust and confidence among traders.
In addition, NAGA is also overseen by regulatory bodies such as the Financial Supervisory Authority (BaFin), Financial Supervision Commission (FSC) and the CNMV in Spain.
The company aims to democratize financial markets by offering trading on MetaTrader 4 and 5together with its own NAGA in-house platform.
Their commitment to transparency ensures clients are aware of expenses and risks with a fee-free framework.
The broker offers trading in a variety of tradable commodities, including Forex, stock CFDs, indices, commodities, Futures, ETFs, cryptocurrencies through a choice of six retail trading accounts, namely Iron, Bronze, Silver, Gold, Diamond and Crystal account.
The availability of a demo account allows novice traders to become acquainted with the complexities of trading without incurring financial risk.
Unique Features
| Feature | Information |
| 🏛️ Regulation | CYSEC, NAGA Markets Europe (License No. 204/13) FSA Naga Capital (License No. SD026) |
| 💰Commissions | Commissions vary depending on the instrument and account type |
| 📊 Trading Platforms | NAGA WebTrader, MetaTrader 4, NAGA iOS App, NAGA Android App |
| Minimum Deposit | USD $250 |
| Deposit Fee | Varies depending on the deposit method |
| Withdrawal Fee | Varies depending on the withdrawal method |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
NAGA Pros and Cons
| ✅ Pros | ❌ Cons |
| NAGA lets users purchase fractional shares of US equities, making it more inexpensive to invest in pricey firms | NAGA imposes fees for several deposit and withdrawal methods |
| Every NAGA client is allocated a personal account manager who can provide assistance and direction | After six months of inactivity, NAGA imposes a €10 monthly inactivity fee |
| CySEC, a reputable financial regulator, oversees NAGA | The NAGA platform may be difficult for novices to navigate |
| NAGA's Autocopy function enables users to replicate the trades of other successful traders, which may be beneficial to novices | Some traders have reported having difficulty reaching NAGA's customer support personnel |
| NAGA provides a wide variety of asset types, including equities, ETFs, indexes, FX, and cryptocurrencies | |
| NAGA provides a user-friendly platform with several features, including social trading, educational materials, and an integrated messaging | |
| NAGA charges no fees for stock and ETF trading, and its spreads are often competitive |
Trust Score
NAGA has a trust score of 95%.
AvaTrade
Overview
This Broker provides Europeans with distinctive features designed to meet their trading requirements. AvaTrade EU Ltd is incorporated in Ireland and is regulated by the Central Bank of Ireland. Additionally, it is also a licensed investment firm compliant with the Markets in Financial Instruments Directive (MiFID).
MiFID provides a harmonized regulatory regime for investment services within the European Economic Area. It increases efficiency and financial transparency and offers greater consumer protection in investment services.
The broker is widely recognized for its intuitive interface, which enables smooth cryptocurrency, Forex, and other financial instrument trading.
Traders in Europe are catered to by various educational resources, competitive margins, and dependable execution, which render it an optimal platform for novice and experienced traders.
Moreover, multiple international authorities oversee AvaTrade, guaranteeing a secure trading environment. It also provides excellent services and customer care.
Unique Features
| Feature | Information |
| 🏛️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| 📲 Social Media Platforms | Instagram You Tube |
| 💻 Trading Accounts | Retail Account, Professional Account |
| 📊 Trading Platforms | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 💰 Minimum Deposit | EUR92.48 or $100 |
| 📉 Trading Assets | Forex Stocks Commodities Cryptocurrencies Treasuries Bonds Indices Exchange-Traded Funds (ETFs) Options Contracts for Difference (CFDs) Precious Metals |
| 💲EUR -based Account? | ✔️ Yes |
| 💲 EUR Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️ Yes |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes (Dubai) |
| 👉 Open Account | 👉 Open Account |
AvaTrade Pros and Cons
| ✅ Pros | ❌ Cons |
| AvaTrade creates an environment conducive to profitable trading. | Currently, variable spreads are not offered |
| Demo and Islamic accounts are both available. Since its inception, AvaTrade has won numerous honours and built a solid reputation. | Only two types of retail trading accounts are available |
| There are around 1,250 tradable assets available in financial markets. | Dormant accounts incur an inactivity fee |
| AvaTrade offers skilled traders the necessary trading instruments they require. | |
| A variety of complex and novel trading strategies are available for investigation. |
Trust Score
AvaTrade has a high trust score of 93%.
OANDA
Overview
This Broker operates under the oversight of the Financial Conduct Authority (FCA) that is registered with ESMA, ensuring compliance with rigorous European financial regulations and instilling trust and confidence among traders.
It offers various investment opportunities, including currency pairs, indices, commodities, and bonds, catering to diverse trading strategies and preferences.
OANDA provides traders in Europa with competitive and clear commission structures, enabling them to effectively manage costs while taking advantage of tight spreads to increase revenue.
With Their cutting-edge trading platforms, including its web-based platform and MetaTrader 4, traders can execute trades and make decisions easily, thanks to sophisticated tools and analysis features.
Furthermore, OANDA strongly emphasizes customer service, offering support through multiple channels such as live chat, email, and phone.
Unique Features
| Feature | Information |
| 🏛️ Regulation | IIROC, FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA, CFTC |
| 📲 Social Media Platforms | LinkedIn X YouTube |
| 💻 Trading Accounts | Standard Account, Core Account, Swap-Free Account, Demo Account |
| 📊 Trading Platforms | Oanda Platform, MetaTrader 4, TradingView, FxTrade |
| 💰 Minimum Deposit | No specific minimum deposit required. |
| 📉 Trading Assets | Index CFD's, Forex, Metals, Commodity CFD's, Bonds CFD's, Precious Metals, Real-Time Rates |
| 💲 EUR-based Account? | ✔️ Yes |
| 💲 EUR Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️Yes (except for US traders, as per US regulation) |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
OANDA Pros and Cons
| ✅ Pros | ❌ Cons |
| OANDA provides its users with the capability to trade positions of any size, which allows for accurate risk management and accommodates traders with different amounts of capital. | Although OANDA offers a wide selection of currency pairs, its selection of other financial instruments, including equities and commodities, may be comparatively restricted in comparison to other brokers. This may impose constraints on the trading options available to specific investors. |
| By eliminating the requirement for a minimum deposit, OANDA enables traders to establish an account without constraining its accessibility to those with limited initial capital. | OANDA enforces minimum trade sizes for specific instruments, which might surpass those provided by alternative brokers. This could potentially restrict the flexibility of traders who maintain lesser trading accounts. |
| OANDA's 'Core Pricing + Commission' model guarantees traders transparent pricing by employing commissions per transaction and maintaining razor-thin spreads. This structure guarantees that traders are fully informed about the expenses associated with their trades. | Despite providing rudimentary research and analysis tools, OANDA's selection may be comparatively limited in scope when contrasted with other brokers, potentially discouraging traders from pursuing more comprehensive market insights and analysis. |
| Among the risk management tools provided by OANDA are trailing stops and guaranteed stop-loss orders, which aid traders in preventing losses and safeguarding profits. | During periods characterized by significant market volatility, OANDA's spreads have the potential to expand, which could result in increased trading expenses for traders. |
| fxTrade, the proprietary trading platform of OANDA, has garnered multiple accolades due to its intuitive interface, sophisticated charting capabilities, and customizable attributes—all of which contribute to a seamless trading experience for users. | Although OANDA provides customer support via multiple channels (e.g., email and phone), weekend and non-trading hour support may be scarce, potentially resulting in delays in the provision of assistance. |
Trust Score
OANDA has a trust score of 91%.
Tickmill
Overview
This broker is a renowned Forex broker regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC). Both these regulatory authorities are European-Regulated forex brokers, ensuring compliance with stringent European financial regulations.
Their commitment to providing competitive trading conditions is one of its distinguishing aspects in this sector. This includes tight spreads, which is especially advantageous for traders using high-frequency trading tactics or enjoying scalping.
Tickmill also meets the different demands of European traders by providing a diverse selection of financial instruments. Examples include major and minor currency pairs, stock indices, commodities, and bonds.
This diversity enables traders to diversify their portfolios, lowering risk while raising possible gains. Furthermore, Tickmill offers advanced trading platforms such as MetaTrader 4, noted for its user-friendly design and robust analytical tools.
The broker provides a complete set of instructional materials, like webinars, seminars, e-books, and articles, suited to different trading skill levels.
In addition, the broker features a vibrant online community and good customer service, allowing traders to share their experiences and learn from one another.
Unique Features
| 🏛️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 📱 Social Media Platforms | Facebook, Twitter, LinkedIn, YouTube, Instagram, Telegram |
| 🔎 Trading Accounts | Pro Account, Classic Account, VIP Account |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5 |
| 💸 Minimum Deposit | $5 |
| 🔁 Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| 🚀 EUR-based Account? | Yes |
| 💳 EUR Deposits Allowed? | Yes |
| 💰 Bonuses for traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ✔️ Islamic Account | Yes |
| 👉 Open Account | 👉 Open Account |
Tickmill Pros and Cons
| ✅Pros | ❌Cons |
| Deposit and potentially withdraw funds using your mobile phone in select regions. | Mobile money support varies by country and provider. Check compatibility before relying on it. |
| Depending on your provider, deposits might be quicker and more convenient than traditional methods. | Double-check if your chosen provider allows both deposits and withdrawals. |
| Mobile money transactions might incur lower fees compared to some traditional methods, depending on your provider. | Minimum deposit amounts and processing times can vary based on your location and provider. |
| If unavailable or undesirable, mobile money offers an alternative deposit method. | Credit cards and bank transfers are generally more universally accepted by forex brokers. |
Trust Score
Interactive Brokers has a trust score of 83%.
HFM
Overview
HFM (HF Markets) operates in Europe under the oversight of the Cyprus Securities and Exchange Commission (CySEC) which in turn is a member of the Committee of the European Securities and Markets Authority (ESMA), ensuring compliance with rigorous European financial regulations and instilling trust and confidence among traders.
In addition, HFM is also overseen by regulatory bodies such as the Financial Conduct Authority (FCA), Financial Sector Conduct Authority, South Africa, (FSCA) Financial Services Authority, Seychelles (FSA), Financial Services Commission Mauritius (FSC) and Capital Markets Authority Kenya.
Europeans enjoy competitive spreads, leverage of up to 1:2000, and diverse trading instruments such as forex, cryptocurrencies, and CFDs.
Furthermore, HFM’s dedication to education and client care, combined with sturdy MT4 and MT5 platforms, makes it an excellent alternative for anyone looking for a trustworthy trading partner in the volatile financial markets.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📲 Social Media Platforms | Facebook Telegram YouTube |
| 💻 Trading Accounts | Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 📊 Trading Platforms | MetaTrader 4 and MetaTrader 5 |
| 💰 Minimum Deposit | No minimum deposit requirement |
| 📉 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 💲 EUR-based Account? | ✔️ Yes |
| 💲 EUR Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️ Yes |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
HFM Pros and Cons
| ✅ Pros | ❌ Cons |
| A diverse range of account types cater to different traders | There is limited German-language help for local traders |
| Attractive bonus and promotion offer | Educational materials are not specifically suited for the German market |
| A diverse assortment of trading instruments | The withdrawal process might be enhanced for efficiency |
| Provides both MetaTrader 4 and MetaTrader 5 platforms | Spreads on certain accounts may not be as competitive |
| Multiple governments regulate the trading environment, assuring its security | The bonus system can be complicated and may not comply with local regulatory requirements |
Trust Score
HFM has a trust score of 85%.
Conclusion
For traders in Europe looking for security, transparency, and dependability in their trading endeavors, choosing the appropriate ESMA-regulated Forex broker is essential.
Furthermore, traders can pick the ideal broker by evaluating platforms, fees, investment offerings, regulatory compliance, and customer service. Therefore, our guide is handy for traders seeking the best brokers regulated in Europe.
Frequently Asked Questions
Is it legal to trade forex in Europe?
Yes, forex trading is legal in Europe and all forex brokers full under the strict regulatory rules of the European Securities and Markets Authority (ESMA). Brokers that is regulated by CySEC or FCA for instance, is also regulated by ESMA which requires that brokers trading in Europe obtain proper licensing and authorization in order to legally offer forex trading to clients.
Who regulates forex in Europe?
All investment and trading activities in the EU fall under the Markets in Financial Instruments Directive II (MiFID II), mandated by the European Securities and Markets Authority (ESMA).
What is the difference between regulated and unregulated brokers?
Despite the fact that unregulated brokers are quite common, they are in no way against the law. The most important item that you stand to lose is the ability to seek legal redress. Although there is no assurance that registered brokers will treat you with respect, they are subject to legal examination in the event that they violate the regulations.
What if a broker is not regulated?
The biggest drawback is lack of investor protection since unregulated brokers are not overseen by any regulatory authority, there is no assurance of fair and transparent trading practices. Traders may be exposed to fraudulent activities, unethical behaviour, or financial mishaps without any recourse.
Is it worth getting into forex trading?
As long as you are prepared to put in the effort, the answer will be yes, it is worth it. You will begin to see results if you are going to be committed to the endeavour and put in the necessary amount of time and effort. On the other hand, you need exercise patience because it could take anywhere from one to three years before you start seeing results in forex trading.
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