Europe is amongst the most popular centers for forex and financial trading. The European region is the home of major economies such as Austria, Cyprus, France, Germany, Netherlands, and many others.
A Major part of forex trading activities take place in Europe and it kind of dominates the entire market. In addition, the European session is amongst the most liquid and sees the maximum participation.
According to data, around 30 to 35% of traders belong to the European Region. So, overall, Europe is the best place to become a forex trader. In this blog, we will learn the best Forex Brokers in Europe to help you start your trading journey.
7 Best Forex Brokers in Europe
Europe is home to numerous forex brokers and traders. Finding the right broker is a tedious and complex task. But not to worry, to help you out, here is a list of top European forex brokers:
IG Group
When you are discussing top forex EU brokers, then IG is a must to discuss. IG Group is a big name in the financial market, and you can trade in forex, commodities, crypto, metal, energies, stock, indices, options, and many others.
European traders are quite professional, and they need a professional platform. Thus, they can go for IG, which offers premium features like a user-friendly platform, top-notch educational content and advanced tools.
The only cons of IG is the trading fees. Being a reputable platform, IG charges a significant amount in the form of currency spreads, commissions and additional charges. Even the minimum deposit for account opening is high with IG.
FP Markets
FP markets is another popular name on the list of the best European-regulated Forex Brokers. Ultra-fast execution and tight spreads are the USP of FP Markets. You can get access to a variety of financial instruments and assets on the platform.
The platform is kind of the best for short-term traders like scalpers or day traders. Here, the possibility of slippage, gaps and delayed order execution is the minimum. It can be a suitable option for copy-traders, so if you are a new trader, you can copy the ideas of others on the platform.
Plus500
Plus 500 is the leading platform for CFD trading. The broker is well-regulated and has licenses from multiple financial jurisdictions throughout the world. The trading commission is negligible, and European traders can get up to 1:30 leverage with Plus 500.
Many analytical tools are available on the platform, and traders can even watch what other Plus 500 traders are doing. The brokers follow the guidelines of ESMA’s MiFID II. Client protection features like low-leverage, negative balance protection and guaranteed stop loss are available. So it can be a safe and secure option for European traders.
Eightcaps
Eightcaps offer favorable market conditions to European traders. It is regulated by top financial institutions like ASIC and FCA. The broker is popular for high-leverage facilities and tight-spread trading. You can trade in more than 800 assets; however, it does not include cryptocurrencies.
With over 15 years of experience in the market, Eightcaps is amongst the best forex brokers in Europe. The platform even offers advanced tools for traders with automated trading strategies. However, UK traders may face some regional restrictions on the platform.
Beirman Capital
Beirman Capital is a new platform as compared to the other brokers on the list. However, the option is good for newbies and forex beginners who are struggling to start trading due to a lack of funds. Beirman Capital is the most cost competitive platform on the list. The spreads are the tightest, and the commission is the lowest.
In addition, there is no inactivity, withdrawal or additional charges. You can start trading in Forex with just $100 on the platform. The educational resources and training materials are available for free. Being a new broker, you may face trust issues, so you can even go for a demo account initially. And if you are satisfied with the services, then only consider opening a real account.
Pepperstone
Pepperstone is a reliable and trusted broker platform for trading in financial instruments. It is regulated by Financial Conduct Authority (FCA) of the United Kingdom, and BaFin and the Australian Securities and Investments Commission (ASIC) of Germany. The registration from the top tier financial jurisdiction of Europe makes it the best Forex Brokers in Europe.
The platform provides premium educational content, analysis tools, and fast execution. However, it does not allow crypto CFD trading. Further copy trading options are limited on the platform.
FxPro
FX Pro is regulated by the Financial Conduct Authority (FCA) and The Cyprus Securities and Exchange Commission (CySEC). The platform provides superior trade execution and market conditions for pro trading. It offers leverage up to 1:30 to retail traders and 1:500 to professional clients.
The broker provides the best educational content in the industry; you can visit its knowledge hub. Here, you will find resources on topics like trading psychology, technical analysis, fundamental analysis, and trading terminologies. Further, you can get access to economic calendars, earning calculators, and market news.
Bottom Line
Europe, being a center of financial activities, has numerous brokers. Selecting the most ideal options out of the best forex brokers in Europe is quite a challenging task. For that purpose, you first need to check whether the broker is regulated in Europe.
Secondly, you need to analyze whether the broker is suitable for you. Check educational resources, leverage, trading fees, minimum deposit, risk management, and analysis tools. Once you are satisfied with the broker’s services, you can consider opening an account with a broker.
FAQs
Can You Trade Forex CFDs in Europe?
Yes, you can trade forex CFDs in Europe. All the financial trading activities are managed by MiFID II, mandated by the European Securities and Markets Authority (ESMA).
How do you select the Best Forex Broker in Europe?
CySEC and FCA regulate CFD Brokers in the UK. So check whether the broker has registrations from these institutions.
What is the maximum Leverage forex traders can use in Europe?
European traders can use a leverage of up to 1:30. The leverage ratio limit is to safeguard traders’ capital.
Is forex trading taxed in Europe?
Forex trading tax depends on country to country. In most European countries, forex trading is subject to tax under capital gains, while in some, it is tax-free.
