Swedish Finansinspektionen (FI) regulates financial markets locally, and the Swedish Krona (SEK) fulfills a significant role in global Forex trading and the world’s economy. It is a component of the US Dollar Index (DXY) with a 4.2% weighting, and Sweden for other countries is a vital exporter of precision technology for the automotive and defense industries. My Forex brokers in Sweden review covers the core aspects Forex traders in Sweden should consider before opening an account.
- BlackBull Markets, Best ECN trading environment, with scalping and hedging.
- Eightcap, Competitive pricing + excellent daily videos.
- ACY Securities, Swap-free trading with the MT5 trading platform.
- FP Markets, ECN trading with leverage up to 1:500.
- AvaTrade, Highly regulated, choice of fixed or floating spreads.
Best Sweden Brokers Comparison
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Regulators | FMA, FSA | ASIC, CySEC, FCA, SCB | ASIC | ASIC, CySEC, FSCA | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID |
Year Established | 2014 | 2009 | 2011 | 2005 | 2006 |
Execution Type(s) | ECN/STP, No Dealing Desk | ECN/STP, Market Maker | ECN/STP, Market Maker | ECN/STP | Market Maker |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 1.3 pips | 1.0 pips | 1.1 pips ($11.00) | 1.1 pips | 0.9 pips |
Average Trading Cost GBP/USD | 2.0 pips | 1.2 pips | 1.1 pips ($11.00) | 1.4 pips | 1.5 pips |
Average Trading Cost Gold | $0.90 | $0.12 | $0.15 | $0.21 | $0.29 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | Other, MetaTrader 4, MetaTrader 5, Web-based+ |
Islamic Account | |||||
Negative Balance Protection | |||||
| Visit Website | Visit Website | Visit Website | Visit Website | Visit Website |
BlackBull Markets
In Summary Best ECN trading environment, with scalping and hedgingBlackBull Markets ranks amongst the Forex brokers in Sweden with the broadest choice of Swedish Krona currency crosses and ultra-low trading fees. Swedish-resident Forex traders get the AUD/SEK, EUR/SEK, GBP/SEK, NOK/SEK, SEK/JPY, and USD/SEK, where the latter has an average spread of only 24.9 pips. Demanding algorithmic Forex traders can connect their own technology to the superb BlackBull Markets trading infrastructure via FIX API access.
Copy traders can diversify via BlackBull Social, ZuluTrade, Myfxbook Autotrade, and embedded MT4/MT5 services. Deep liquidity and VPS hosting cater to high-intensity strategies like algorithmic trading and scalping in the commission-based ECN style account.
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
Eightcap
In Summary Competitive pricing + excellent daily videosEightcap brings Capitalise AI to Forex traders in Sweden, enabling the automation of strategies in a code-free environment. It makes Eightcap one of the Forex brokers in Sweden with the most technologically advanced trading environment. Swedish-resident Forex traders get the USD/SEK with a minimum spread of 0.1 pips and an average of 35.09, making it one of the cheapest Forex brokers for trading the Swedish Krona.
Other benefits include the MT4/MT5 platforms, Crypto Crusher, the active TradingView community, VPS hosting for low latency, 24/5 market access, deep liquidity pools, high leverage with negative balance protection, and excellent order execution.
Pros & Cons
- Low minimum deposit and high leverage of up to 1:500
- Competitive cost structure
- Excellent technology infrastructure and seasoned management team
- Daily research and quality educational content
- Limited leverage in some areas
ACY Securities
In Summary Swap-free trading with the MT5 trading platformACY Securities segregates client deposits from corporate funds at Commonwealth Bank, offers negative balance protection, and has professional indemnity insurance. Beginners get high-quality research and education. Copy traders can diversify via MT4/MT5, Signal Start, and SoFinX. There are no deposit fees, and traders get three free monthly withdrawals before a $25 cost applies.
Capitalise AI allows algorithmic trading in a code-free environment, and ACY Securities offers 15 MT4/MT5 plugins, making it one of the best Forex brokers in Sweden. Raw spreads from 0.0 pips for a $6.00 and $5.00 commission exist in the Pro Zero and Bespoke accounts.
Pros & Cons
- Large repository of daily analysis and educational content
- Low spreads starting at 0 pips in the Spread Zero account
- 16 payment processors, including cryptocurrencies
- Competitive trading fees in its commission-based accounts
- Only 1 regulator
FP Markets
In Summary ECN trading with leverage up to 1:500FP Markets offers the following Krona currency pairs, USD/SEK, EUR/SEK, GBP/SEK, whilst the USD/SEK, is the most liquid pair and has a minimum spread of 0.0 pips but averages out at 55.0 pips in the commission-based Raw spreads account. This makes FP Markets one of the leading Forex brokers in Sweden, traders also benefit from NDD order processing, lack of requotes, high leverage, and deep liquidity.
Twelve plugins, Trading Central, and Autochartist upgrade the core MT4/MT5 trading platforms. Copy traders get the proprietary FP Markets Copy Trading solution, Myfxbook Autotrade, Signal Start, and embedded MT4/MT5 copy trading services.
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
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsSwedish-resident Forex traders with AvaTrade can get the MT4 Guardian Angel plugin. It provides traders with an additional layer of protection and analysis by sending alerts and assisting with risk management and post-trade analysis. AvaTrade lists the EUR/SEK, GBP/SEK, and USD/SEK as Swedish Krona currency crosses, where the 28.0 pips spread for the USD/SEK means Ava has extremely competitive trading fees. It also added Capitalise AI, allowing traders to automate strategies in a code-free environment, overall these factors place AvaTrade amongst the most competitive Forex brokers in Sweden.
AvaTrade features MT4/MT5, upgraded with the Trading Central plugin, the web-based AvaTrade WebTrader, AvaOptions, and the mobile app AvaTradeGO.
Pros & Cons
- High-quality educational offering via SharpTrader
- 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
Get Started with Forex in Sweden
The below tips will help beginners minimize avoidable mistakes and shorten their learning curve.
Consider the below steps before starting with Forex trading in Sweden:
1. Traders should begin with in-depth Forex education, much information is available for free, Forex trading is a high-skilled profession and requires work to understand how to do it.
2. Master the aspects of trading psychology and understand the importance of leverage and its crucial relationship to risk management.
3. Open an account with one of our highlighted Forex brokers in Sweden to ensure a competitive edge and a trustworthy counterparty. Starting with a demo account with no real funds at risk is a wise move.
4. Define and follow a suitable trading strategy and adopt an appropriate risk management profile, understand the impact of trading costs, how to use leverage intelligently, and have realistic expectations.
5. Follow and analyze market events, which can create price action, break trends, and cause significant volatility.
6. Learn how to place take profit and stop loss orders. Placing them with each entry order ticket is good practice as is not adjusting these levels once in a trade.
How to Choose a Forex Broker in Sweden
My 12-point checklist below will help Forex traders resident in Sweden with choosing a Forex broker.
Swedish Forex traders should consider the following:
- Regulation - A clean operational history exceeding ten years significantly reduces the counterparty risk.
- Local-currency accounts - If SEK base accounts are unavailable, a US Dollar account is the most suitable choice.
- Local payment methods - All brokers offer bank wires and credit/debit cards, but localized payment options also exist.
- Spread sizes - Competitive spreads in commission-based accounts should not exceed 0.1 pips for major currency pairs.
- Fees - Trading fees should max out at $6.00 per 1.0 standard lot with volume-based rebate programs available.
- Products - Leading Forex brokers offer 60+ currency pairs, allowing traders to diversify.
- Asset diversity - Commodities, index CFDs, and cryptocurrencies rank among the leading diversification options for Forex traders.
- Customer service in native language - All brokers offer English customer support, which is widely spoken and understood in Sweden, when Swedish-language support is unavailable.
- Demo account - Unlimited demo accounts with customization options remain a vital tool for all traders.
- Mobile trading - The MT4/MT5 mobile apps are widely available at most brokers.
- Deposits/Withdrawals - Traders should consider third-party processing costs and currency conversion fees.
Basic Forex Trading Strategies
Traders should define their strategy according to their preferences, personality, and risk appetite.
Here are some Forex strategies Swedish traders can consider:
- Copy trading: A passive approach where traders copy signal providers automatically.
- Social trading: Social traders engage with a community but place trades manually.
- MAM/PAMM trading: Traditional third party account management that includes performance fees.
- Short-term approach that usually requires algorithmic trading solutions for efficient results.
- Day trading: Traders hold positions intra-day for minutes up to several hours.
Swedish Forex Payment Methods & Trading Fees
All Forex Brokers in Sweden offer bank wires and credit/debit card deposits. Swedish FinTech company Klarna/Sofort is a leading online payment processor, while Skrill and Neteller are widely available.
Here is an overview of trading fees Swedish Forex traders should understand:
Trading fees consist of:
- Spreads (the difference between the bid and the ask price of an asset)
- Commissions (competitive Forex traders have cheaper commission-based cost structures than commission-free alternatives)
- Swap rates (a financing debit or credit charged on leveraged overnight positions)
- Currency conversion fees (applicable each time the P&L currency of the asset differs from the account base currency)
Non-trading fees consist of:
- Deposit fees (deposits are usually free of charge)
- Withdrawal fees (few brokers penalize traders for withdrawals, but third-party payment processing fees may apply)
- Inactivity fees (most traders never face them)
- Currency conversion fees (for deposits and withdrawals in currencies that differ from the account base currency)
The Pros & Cons of Forex Trading in Sweden
Swedish-resident Forex traders should consider the pros and cons of Forex trading in Sweden.
The pros of Forex trading in Sweden are:
- 24/5 decentralized trading.
- Lower capital requirements than other asset classes
- Algorithmic trading accounts for 80%+ of daily FX volume
- Copy trading can help portfolio diversification.
- Passive income opportunities, via affiliate programs
- Frictionless financial transactions
The potential cons of Forex trading in Sweden are:
- A fundamental misunderstanding of Forex trading, its requirements, and possibilities
- Demo trading can lead to a false sense of accomplishment.
- Overtrading, frustration, and inefficient trading amid a lack of sufficient trading capital mixed with unrealistic trading expectations
- Disrespect of Forex trading as a high-skilled profession
- Inadequate risk management
Is Forex Trading Legal in Sweden?
Forex trading in Sweden is legal, regulated by the FI, and compliant with the European MiFID framework. There are no legal restrictions on assets, including cryptocurrencies, which many Forex brokers in Sweden add to their asset selection.
Trading the Swedish Krona
Swedish-resident Forex traders may prefer trading the Swedish Krona, which many brokers (apart from those we have highlighted) fail to offer. Those with a balanced asset class selection usually include the USD/SEK, the most liquid SEK currency cross, followed by the EUR/SEK.
Bottom Line
Forex in Stockholm, and Forex trading in Sweden, continues to expand, and the Swedish Krona is one of the major currencies in global trade. The Swedish Forex market remains well-regulated, and Swedish Forex traders have access to innovative trading platforms, competitive fees, and no restrictions on financial instruments.
