*72% of retail investor accounts lose money when trading CFDs with this provider.
Finding the best Forex broker in Europe or wherever you are trading from is essential for your trading success. Let’s find out why!
Table of Contents
Forex Trading Background and Facts
The foreign currency exchange market has become the largest and most liquid traded market worldwide, with a daily trading volume in excess of $5 trillon. The unique characteristics are flexible trading opportunities, lower trading costs, and progressively more transparency have made this market one of the most popular ones in recent years.
This market has a lot of operations centers in different parts of the world, with London in particular and Europe being the center of it all. If you are also interested in investing your money in a well-established platform, the Forex market can indeed be a good option for you.
Sadly, there are also stories about retail traders who have been burned with unserious brokers. So, be careful and choose a reputable broker for a good foundation for your trading success. With no further ado, let’s jump right into the review!
Why Is the Forex Market So Popular Among Traders?
There are many reasons for the popularity of the Forex market among traders. Few of the reasons are:
The trading cost of this market is much lower than the other market. This feature has made this market accessible to many.
The traders will get real-time trading experience from any part of the world. As this is a global market, people can trade money from different time zones for five (or almost six) days a week.
This market allows you the opportunity of investing borrowed money, which means you can trade money on margin. So, the market is highly leveraged for the traders.
As the traders can access any data and information on this market, they get a transparent picture of everything from this market.
One can access to this platform from a registered account. You need to have an internet connection and a valid account to start your transaction.
The traders are free and flexible to trade any currency in the market. This market offers deep liquidity for traders.
So, these are some common reasons why people like Forex trading.
Top Forex Brokers in Europe
One can’t start trading just having a Forex account. If you want to make money and succeed in the global markets, you will need a trusted Forex broker. Choosing the best Forex broker is often tricky as there are many operating Forex brokers in different countries.
If you are looking for the best Forex broker in Europe, you should understand the requirements of the European Forex market. Your investment style is also a determinant factor for choosing the right Forex broker for you. Different Forex brokers are operating in the European market. Some of them are:
Choosing the right broker can potentially make your investment decision a more profitable one. You will need to select a broker who will meet all of your trading needs when you start investing in the global Forex market. FP markets is agreat choice of Forex broker for both experienced and beginner traders.
This provider will provide you the most reasonable pricing with the most flexible trading facilities. With a considerable number of products and high execution speed, this is so far one of the best Forex brokers in Europe. In addition to Forex trading, FP Markets do also offer stocks, indices, precious metals, commodities and even cryptocurrency trading (check out our guide to buying Bitcoin with PayPal here). Possibly the superior European FX provider at the time being.
If you are looking for a trading platform that will meet all of your trading needs, FP Markets provide plenty of opportunities. First of all, they offer the widely used MetaTrader4. Moreover, you can also trade with the MetaTrader5 platform, a web-based platform and IRESS. You can even check your portfolio on the go from your smartphone.
FP Markets is flexible for every kind of trader. One can get different types of trading platforms in this market. One can keep track of the transactions and investments easily with this platform. Some traders want to try the various trading platform for the experience.
This is the perfect marketplace for those who are looking for different platforms at a time. One can access to the virtual private server or multi-account manager where the multi-account can be controlled with a single device and platform.
FP markets also provides a great feature of mobility to the users. Now one doesn’t need to stick to the PC for any transaction. With the mobile phone application, anyone can access the marketplace anytime from anywhere.
This well-respected broker holds an impressive five-star rating on Trustpilot.
Example of a weekly market update from FP Markets:
eToro is one of the most popular premium Forex providers in Europe with leading trading platforms, especially when it comes to social and CopyTrading. As this is a highly regulated Forex provider, traders can enjoy flexibility and reliability while trading on this platforms. In Europe, this trading platform is registered and regulated by FCA. So, eToro is authorized to operate in European countries.
Traders can use different financial instruments to trade in the financial markets, such as commodities, Forex, stock indices, cryptocurrencies and more. Many traders and customers are engaging in this network every day. Now more than 5 million traders are trading with this broker. For the wide popularity and mass access, it has become a leading investment and trading network in the world.
eToro Trading Platforms
This platform offers some great features to the traders. One of the best features of this platform is that it has a large cryptocurrency community, which is probably the most significant in the world.
As a trader, you will get the leverage of maximizing the returns of your investments in a short time. With eToro’s trading platforms, traders can easily speculate on margin or leverage, take high-risk positions, both long and short, within a wide variety of markets.
Minimum Deposit and eToro Account Types
The minimum deposit with this broker is comparatively lower than the other foreign exchange trading platform. If you are a premium member of this trading platform, you will enjoy different benefits regarding the transaction and other features of this FX provider.
Another fantastic feature of this currency broker is testing of their free demo account. With this demo account, you can test different features and functionality of eToro’splatforms. Traders are even allowed to open an Islamic account through this platform. eToro is also available on a mobile platform. IOS and Android users can easily use this platform to tradewherever.
Trading with eToro is quite effortless. You need to sign up on the eToro website. Providing your name, e-mail, and other details, you can then easilyregister a new account. Once completing the registration process, you are good to go and ready for your online trading endeavor. You will have to deposit an initial amount to start trading.
Zero ETF and stock trading commission in Europe
Social trading, including CopyTrader and CopyPortfolios
High number of markets available
This broker even provides different altcoins
Limited tools for education
High non-trading related fees (inactivity, withdrawal and financing)
Though eToro was established initially in the non-regulated and scattered marketplace, now it is highly regulated. But the authority of this brokerage is working tirelessly for the improvement of the security of this market.
It also offers a wide range of tools and features for the traders. But along with taking all the facilities, traders also need to keep in mind that this platform is not suitable for trading cryptocurrency yet. You can, however, buy and sell different cryptocurrencies, including Bitcoin, using a credit card or PayPal. No wallet is needed and there are no added commissions.
Please note: 75% of retail investor accounts lose money when trading CFDs with this provider.
FXCM is a well-known name in the industry with its 20+ years of experience in the online trading services. FXCM was founded in 1999 and is currently headquartered in London. The company is a leading provider and should definitely be taken into account when assessing the best forex brokers in Europe.
FXCM has developed its own proprietary award-winning trading platform called Trading Station. Trading Station is user-friendly and can be accessed from multiple devices, including web, desktop, and mobile.
In addition to Trading Station, FXCM offers other platforms like the popular MetaTrader 4 platform, NinjaTrader, and ZuluTrade. You can even access TradingView through their API solution. TradingView is a web-based charting solution and social trading platform which is regarded as perhaps the most user-friendly charting around today.
FXCM offers a wide variety of deposit methods. These include debit card and credit card, bank wire, Skrill, and Neteller. There are even local solutions such as Klarna and Rapid Transfer in the UK, and BPAY, Union Pay, and Poli in Australia.
Is FXCM regulated?
Yes, FXCM is well-regulated. Like many of the top European forex providers, FXCM is regulated by FCA in the UK, ASIC in Australia, as well as FSCA in South Africa.
To be regarded as the best Forex broker in Europe, the company has to deliver on pricing. FXCM does that. Offering low spreads, as low as 1.4*** on average for the EURUSD, FXCM is among the better brokers.
Tools & Resources
As many other European brokers, FXCM provide free trading tools for its clients. Through FXCM Plus, traders get exclusive access to trading signals, technical analyzer and more. Click here for more information.
Enhanced execution and quality pricing
Award-winning trading platform, Trading Station (web, desktop, mobile)
Free access to exclusive trading tools and services
More than 20 years of experience
Minimum deposit: €300/£300
Leverage**: up to 30:1 depending on product traded/up to 400:1 outside of Europe
*Spreads are variable and are subject to delay. The spread figures are for information purposes only. For latest Spreads, please refer to FXCM website or trading station.
**Leverage: Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
***Spreads are variable and are subject to delay. The spread figures are for information purposes
only. For latest Spreads, please refer to FXCM website or trading station.
As an Australian based Forex broker, IC Markets has started its operation recently in the European market as well. Traders around the world have the opportunity to access the global market with different instruments like currencies, commodities, and so on.
IC Markets – Background
This FX brokerwas established in the year 2007. Since then, they have become one of the most trusted and popular automated trading providers for a wide range of users. Depth of the market, ladder trading, the automated close of trades, and other so many trading tools are available with IC Markets.
With their mobile apps, buying and selling financial instruments directly from your mobile device is done with ease. So, those who want to trade using the mobile platform should definitely visit their website for in-depth understanding.
Client funds are segregated
IC Markets is highly regulated and authorized by the ASIC
Low minimum deposit
Like other European brokers, they are not FCA regulated
So, this broker is becoming accessible for the people in Europe and offers low trading fees. Opening an account and trading with this top Forex provider is also quite easy and user-friendly. Their product offerings are already wide and will keep on growing in the coming years.
Note: 80.5% of retail investor accounts lose money when trading CFDs with this provider.
Plus500 is one of the leading Forex providers in Europe (through Forex CFDs). Apart from European countries, this broker has their operations in many other countries except the US. With Plus500, you can choose from two types of accounts. One is the demo account, and the other one is the live account.
With a demo account, you can get the idea of trading without risking your own money. On the other hand, there is low barrier to entry for their live account, only $100 in a minimum deposit.
Trading with this FX broker is secure and hassle-free. Inaddition to currency markets, traders can trade in different markets using their platforms. Some of the products you can invest in with this market are CFDs, commodities, stocks, cryptocurrency, and so on.
Plus500 Trading Platforms
Theirtrading platformsare available in different versions for every level of users. These versions allow the traders to get accessed from any device anytime. Depositing money into a newly opened account is done easily with VISA, MasterCard, and other options as well. For withdrawals, there are some rules and regulations which should be maintained by the customers properly.
The traders will get customer services in different languages 24/7. However, they don’t provide customer service over the phone.
User-friendly proprietary trading platform
Easy to open an account (follow the step-by-step guide in the end of this article)
Limited number of products
Lacks some research tools, data, and other necessary information which might help traders
So, Plus500 is a highly regulated broker in Europe. Trading with this platform is highly secure for its regulatory body. Thus, the traders can be assured about the quality and safety while trading with this broker. Read full review.
Another popular and leading online currency broker available in the European market is the FxPro. This FX provider offers more than 250 financial instruments with 24/5 trading facilities. FxPro has been operating in the UK and Europe since 2006 and became a market leader in a short time.
Clients can trade directly from over 150 countries through their platforms. The headquarters of this broker is located in London. Theyare also regulated and authorized by the FCA. In addition, apart from Europe, this broker has authorized operations in many other countries and continents.
For trading with FxPro you can deposit an amount as low as $100. However, FxPro advice its clients to deposit at least $500 initially. The traders get the opportunity of trading on margin, which give great flexibility with lower initial deposits. However, for margin trading there might have some requirements based on different account types.
While trading with FxPro, you will need to know that some charges are associated with it. But unlike some other Forex brokers on the European market, there are no withdrawal fees.
FxPro Fees and Educational Resources
The fees of this broker are very comparative to the other available financial providers in the market. Comparing to the number of customers, the complaint rate is quite low, which means the traders are satisfied with the service provided by FxPro, and this is quite an excellent achievement for all.
If you are a new trader and want to invest your money with this currency broker, you can certainly open a demo account where you will get virtual cash for trading and understanding the marketplace properly.
The traders can get a lot of educational resources as well, which can help them to learn to trade properly. One can also get a lot of information from the website too. As a customer, you will get top-notch support and security with this broker. They make customer security their utmost priority.
No commissions (except on the cTrader platform)
FxPro demo account
FxProSuperTrader – their own automated trading platform
Numerous trading tools available
Webinars, user guides and social media platform
Top-notch customer service in over 20 languages
Multi–step confirmation process of transactions might be annoying
Clients from many regions can’t get access to this platform yet.
Platforms:(Web, desktop and mobile)
So, overall, the FxPro trading platform is a good one. They are working continuously for the satisfaction and enjoyable experience of the traders. The best customer support, transparent fees, and a well-organized structure have made this platform most popular among the people.
How to open an account with FxPro?
Please note: 77% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider.
AvaTrade is a Forex broker amongthe skilled and experienced brokers. Theyhave been providing trading services since 2006. AvaTrade executes more than two million tradeseach month with over 200,000 customers globally. In addition, the trading amount is increasing day by day. Its headquarter is located in Dublin, and its regulatory body is situated in Europe.
With AvaTrade, trading in multiple organizations is possible. As provider has different local regulatory bodies in different countries, traders get confidence while trading with this broker.
Different instruments, including Forex, commodities, equities, bonds, stock, etc. can be traded on their platforms. Traders can even trade the most sought-after cryptocurrencies as well. This Forex brokerage also allows 24/7 trading facilities to traders.
The minimum amount required for trading cryptocurrenciesontheir platform is a manageable $100. A trader can get leverage up to 20 times trading equity at AvaTrade.
AvaTrade Opening a Trading Account
Opening account with AvaTrade is quite easy. You will need to go to the website for opening account. Providing and verifying the personal information, you will be able to start trading immediately after making the wire transfer.
While setting the base currency, you will need to be very careful as you can’t change it later. Here it may be of interest for traders to choose their home currency, reduce their overall currency risk exposure. The Euro may hence be of interest to European investors, and the Pound Sterling from British investors. Additionally, AvaTrade is offering accounts to both individuals andcorporate users.
A fantastic factor about AvaTrade is it often offers a welcome bonus to the new clients. AvaTrade also has an Islamic account, which is regulated by Islamic Sharia Law. You can also go for the demo account initially as it provides the real feel of trading with no risk of losing money.
Debit or credit cards can be used for depositing an amount in the AvaTrade. However, depending on the payment type and mode, it takes time for completing the procedure of depositing. Sometimes it takes a few business days to complete the operation all together.
If you are talking about AvaTrade fees, usually, the costs are less than with other comparable brokers. Sometimes the prices are zero, which is a significant relief for the traders, and is a good contribution to the bottom line. However, for the three months or prolonged inactivity, this provider can charge you aninactive fee.
AvaTrade is a popular trading platform which is offering a seamless investment option for the traders.
Short AvaTrade tutorial (uploading documents and more)
Note: 71% of retail investor accounts lose money when trading CFDs with this provider.
Conclusion – Which European FX Broker is the Best?
So, in conclusion, there are a lot of different Forex brokers in the European market. We have, throughout this article, tried to lay a good foundation upon which you can calmly draw your own conclusions about which one is thebest Forex Broker in Europe for you.
Every currency provider has some positive aspects and drawbacks. Depending on your trading style and investment type, you will need to find the best Forex broker for your own criteria.
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