Table of Contents
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Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Brokers in Europe

Europe is home to over 745 million citizens with a GDP exceeding $33 trillion. It is also home to the global Forex trading capital and primary global financial center, London, and 27 of the 50 sovereign countries in Europe are part of the European Union. This distinction has a significant impact on the competitiveness of the European Forex trading environment.

I analyzed dozens of Forex brokers for my European Forex brokers review to determine the best choices for European Forex traders.

1
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Regulated by the Central Bank of Ireland and the CySEC
Retail accounts and professional accounts per ESMA regulations
2
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Regulated by the CySEC for European traders.
CZK, PLN, HUF, SEK, NOK, and DKK deposits & local payment processors
3
4.7/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Solid broker for scalping and hedging
Institutional-style trading opportunities for retail traders
Your investment value may change. Capital is at risk.
4
4.7/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
European regulation by the FCA, CySEC, DNB, AMF, Bank of Spain, OAM, and MFSA
eToro Academy, eToro Plus, and Digest & Invest for beginner traders
5
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Regulated in Europe by the FCA, CySEC, and BaFin.
Award-winning broker with webinars for beginners.
6
4.5/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
FCA regulation for European traders & 24/5 customer support
Education and research via Eightcap Labs and Eightcap Trade Zone for beginners

Best Forex Brokers in Europe at a Glance

  • AvaTrade, Highly regulated, choice of fixed or floating spreads.
  • FP Markets, ECN trading with leverage up to 1:500.
  • BlackBull Markets, Best ECN trading environment, with scalping and hedging.
  • eToro, Best broker for social traders and crypto traders : 74% of retail CFD accounts lose money.
  • Pepperstone, Great ECN execution on MT4 platform.

Best Europe Brokers Comparison

Regulators
ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFIDASIC, CySEC, FSCAFMA, FSAASIC, CySEC, FCA, FSAASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Year Established
20062005201420072010
Execution Type(s)
Market MakerECN/STPECN/STP, No Dealing DeskMarket MakerNo Dealing Desk, NDD
Minimum Deposit
$100
$100
$0
$50 - $10,000
$200
Average Trading Cost EUR/USD
0.9 pips1.1 pips1.3 pips1.0 pips1.1 pips
Average Trading Cost GBP/USD
1.5 pips1.4 pips2.0 pips2.2 pips1.6 pips
Average Trading Cost Gold
$0.29 $0.21 $0.90 $0.45 $0.20
Trading Platform(s)
Other, MetaTrader 4, MetaTrader 5, Web-based+MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedMetaTrader 4, MetaTrader 5, Trading ViewProprietary platformMetaTrader 4, MetaTrader 5, cTrader, Trading View
Islamic Account
Negative Balance Protection
N/A

AvaTrade

In Summary Highly regulated, choice of fixed or floating spreads

AvaTrade ranks among the European champions and is the Forex broker with the most trading platform choices from our European Forex brokers review. Besides MT4/MT5 for algorithmic trading, AvaTrade presents its proprietary WebTrader and mobile app AvaTradeGO with Trading Central and the specialized Ava Option and Ava Social platforms. Copy traders can also use DupliTrade, and the high-paying affiliate program with 145,000 registered partners and $300,000,000+ in commission payouts caters to passive income seekers.

Traders also benefit from reasonable commission-free costs and a well-balanced asset selection featuring options, ETFs, and cryptocurrencies. The Ava Academy provides beginners with industry-leading education.

Read more on AvaTrade »
4.8/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special

FP Markets

In Summary ECN trading with leverage up to 1:500

FP Markets offers traders a well-balanced asset selection with competitive, commission-based trading fees. It has 24/7 multi-lingual customer support, and beginners receive a quality education. Licensed account managers can provide traditional account management services via MAM/PAMM. Copy traders can use the embedded services in MT4/MT5/cTrader, opt for the well-known Myfxbook Autotrade service, pay for fee-based Signal Start, or explore the proprietary FP Markets alternative.

Traders also benefit from the 12-plugin MT4/MT5 upgrade package, Trading Central, and Autochartist. It elevates FP Markets to one of the brokers with the most upgraded trading environment from our European Forex brokers review.

Read more on FP Markets »
4.8/5 in this category

Pros & Cons

  • Choice of trading platforms and auxiliary trading tools
  • Very competitive cost structure and excellent asset selection
  • Low minimum deposit requirement and leverage of up to 1:500
  • Well-regulated and trustworthy
  • Availability of Iress geographically restricted

BlackBull Markets

In Summary Best ECN trading environment, with scalping and hedging

BlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification.

Read more on BlackBull Markets »
4.7/5 in this category

Pros & Cons

  • ECN/NDD execution model with deep liquidity
  • Institution-grade pricing for retail traders via proprietary price aggregation
  • ZuluTrade and Myfxbook for social trading
  • Leverage of up to 1:500
  • Limited deposit options

eToro

In Summary Best broker for social traders and crypto traders : 74% of retail CFD accounts lose money

With 30M+ traders, eToro is the leading copy trading provider from our European Forex brokers review. Traders receive a well-balanced asset selection of 3,000+ trading instruments on the user-friendly web-based eToro platform and mobile app. CopyTraders forms the core of the eToro business model, encouraging community engagement. Smart Portfolios, custom-tailored products featuring thematic long-term buy-and-hold investments managed in-house by eToro, complement the passive eToro trading and investing business model.

Traders get ESG scores, the Delta Investment Tracker, physical crypto purchases and staking, and commission-free buy-only equity trading. It also features an in-house developed cryptocurrency wallet and mobile e-money account.

Read more on eToro »
4.7/5 in this category
Get Started
Your investment value may change. Capital is at risk.

Pros & Cons

  • Active investment community ideal for social trading
  • Dedicated tools for social trading
  • Broad cryptocurrency selection
  • Expanding educational offering for beginner traders
  • Internal withdrawal fees

Pepperstone

In Summary Great ECN execution on MT4 platform

The well-regulated trading environment and cutting-edge infrastructure make Pepperstone the best choice for algorithmic traders and scalpers from our European Forex brokers review. Pepperstone offers the 28-plugin Smart Trader Tools package and Autochartist for MT4/MT5. The most unique trading tool is Capitalise AI, which supports algorithmic trading in a code-free environment, separating Pepperstone from most competitors.

Social traders can connect their accounts to TradingView, where 50M+ traders interact and share ideas. It is also an ideal choice for copy traders, who can diversify via embedded services in MT4, MT5, cTrader, Myfxbook Autotrade, and DupliTrade. Pepperstone also offers same-day withdrawals.

Read more on Pepperstone »
4.6/5 in this category

Pros & Cons

  • Excellent choice of trading platforms consisting of MT4/MT5, and cTrader
  • Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
  • Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
  • Leverage of up to 1:30 and superb trade execution
  • Demo accounts have 30-day time limits

What to Look for in a Forex Broker from Europe

I focused on the below criteria during my European Forex brokers review.

All competitive European Forex brokers must provide the following:

  • Regulation - 10+ years of a clean regulatory track record.
  • Low trading fees - Low trading costs and competitive swap rates, including positive ones.
  • Trading platforms - Availability of algorithmic, copy, and mobile trading.
  • Asset diversity - A diversified choice of liquid assets.
  • Deposits/Withdrawals - No internal transaction fees and low minimum requirements.

Forex Trading Regulations in Europe

European Forex brokers fall into two categories: EU-based and non-EU-based. The classification dictates the competitiveness and security of the trading environment. The European Securities and Markets Authority (ESMA) is the super-regulator in the EU, while local regulators enforce the Markets in Financial Instruments Directive II (MiFID II).

Outside the EU, financial regulators apply their rules and regulations. While the ESMA has a good reputation, the most notable cases of retail fraud and scams originate from Cyprus, where CySEC regulates Forex brokers.

How Much is Forex Leverage in Europe?

European Forex brokers differ in leverage, which depends on their regulatory status. EU-based brokers offer a maximum retail leverage of 1:30 with a professional account that receives 1:500, the industry standard for non-EU brokers. Forex traders must always use proper risk management when trading leveraged accounts, and all brokers within my European Forex brokers review offer negative balance protection.

How to Start Forex Trading in Europe?

Traders should consider the following tips before funding an account with an European Forex broker.

  1. Invest sufficient time into quality education.
  2. Respect Forex trading as a highly skilled profession.
  3. Understand how trading psychology differentiates unprofitable traders from profitable ones.
  4. Study the relationship between leverage and risk management.
  5. Learn how leverage magnifies profits and losses.
  6. Ensure the risk management strategy and the trading strategy are given equal weight.
  7. Choose a suitable trading strategy that reflects your personality.
  8. Remember that low trading fees determine a competitive trading environment.
  9. Master suitable take profit and stop loss placement.

What is the Best Trading Platform in Europe

Since 80% of daily Forex trading volume is algorithmic, MT4 is the best trading platform in Europe. It also supports API and copy trading. Traders can upgrade it via 25,000+ custom indicators, and most European Forex brokers offer it. MT5 and cTrader come in as the second and third-best choices, as they lack the versatility of MT4.

Forex Trading Taxation in Europe

With 50 sovereign countries, applicable tax rates depend on tax residency. European Forex brokers provide detailed trading summaries. Forex traders in Europe must consult a legal professional to seek tax advice in Europe to ensure compliance with local rules and regulations, which will also optimize the tax rate. Some countries do not levy taxes for Forex traders, while others have high tax rates.

Pros & Cons of Forex Trading in Europe

Before funding a trading account with European Forex brokers, Forex traders should evaluate the pros and cons of Forex trading in Europe.

The pros of Forex trading in Europe are:

  • 24/5 decentralized market
  • Copy and social trading.
  • Mobile trading
  • PAMM/MAM accounts
  • Low-latency algorithmic and API trading
  • Passive income opportunities
  • Lower capital requirements versus other assets

The cons of Forex trading in Europe are:

  • No bonuses or incentives (EU-based brokers)
  • Limited leverage (EU-based brokers)
  • Uncompetitive trading conditions (EU-based brokers)

Bottom Line

Across the EU, European Forex brokers operate under ESMA rules and regulations that favor investor protection over competitive trading conditions. The success of this approach has not yielded favorable results, as CySEC-regulated brokers have a history of fraud and misleading business practices. European Forex brokers outside the EU can offer competitive trading conditions under capable regulatory environments.

Copy trading via mobile phones and social trading rank among the most popular retail trading strategies, followed by MAM/PAMM account management services. Algorithmic trading is widespread among profitable European traders, as Europe is home to industry-leading tech hubs and dozens of international brokerage powerhouses spanning the continent.

FAQs

Can I trade Forex in Europe?

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Yes, Forex trading is legal in Europe, home to the global Forex trading capital.

What is the highest-leverage broker in Europe?

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The highest leverage brokers in Europe operate from non-EU countries, where no upper limit applies.

What is the maximum leverage in the EU?

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EU-based brokers offer 1:30 for retail traders, while no upper limit exists for non-EU brokers.

What is the best time to trade Forex in Europe?

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The Forex market operates 24/5, but the best time to trade is usually the overlap of the London and New York sessions.

Christopher Lewis
About Christopher Lewis

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.