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Forex Trading in Sweden - Top Brokers

By Christopher Lewis
Reviewer Adam Lemon
Fact-checker DailyForex.com Team
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

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.

1
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.
NZ based FMA regulated broker, 1:500 max. leverage for Sweden clients.
Institutional-style trading opportunities for retail traders.
2
4.9/5
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.
EU regulation in Portugal and Italy & MiFID II and GDPR-compliance
SEK deposits and withdrawals & SEK as an account base currency
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.
Well-balanced asset selection of 2,200+ assets & 46 liquidity providers.
VPS hosting for 24/5 low-latency trading & order execution under 30ms.
4
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.
UK-regulated subsidiary & GBP and crypto deposits and withdrawals.
Excellent beginner education and research via Eightcap Labs & Trade Zone.
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.
Deposit and withdrawals in SEK & EU-based subsidiary in Latvia.
Multiple bonuses and income-generating programs & 24/7 customer support.

Best Sweden Brokers Comparison

Regulators
FMA, FSAN/AASICASIC, CySEC, FCA, SCBFINMA, JFSA
Year Established
20142001201120092004
Execution Type(s)
ECN/STP, No Dealing DeskMarket MakerECN/STP, Market MakerECN/STP, Market MakerECN/STP
Minimum Deposit
$0
$10
$50
$100
$100
Average Trading Cost EUR/USD
1.3 pips0.8 pips ($8.00)1.1 pips ($11.00)1.0 pips0.3 pips ($3.00)
Average Trading Cost GBP/USD
2.0 pips1.3 pips ($13.00)1.1 pips ($11.00)1.2 pips0.8 pips ($8.00)
Average Trading Cost Gold
$0.90 $0.36$0.15 $0.12 $0.32
Trading Platform(s)
MetaTrader 4, MetaTrader 5, cTrader, Trading ViewMetaTrader 4, MetaTrader 5, Proprietary platform, Web-basedMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5, Trading ViewMetaTrader 4, MetaTrader 5, Proprietary platform, Web-based
Islamic Account
Negative Balance Protection
N/A

BlackBull Markets

In Summary Best ECN trading environment, with scalping and hedging

BlackBull 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.

Read more on BlackBull Markets »
5.0/5 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

ActivTrades

In Summary

With a well-balanced asset selection of 1,000+ CFDs, including the EUR/SEK and three Swedish equity CFDs, plus commission-free cost featuring ultra-low swap rates for leveraged overnight positions, ActivTrades places highly on my best Forex brokers in Sweden listing. ActivTrades can execute 100K orders per second with an average order execution speed below 0.004 seconds.

Traders get MT4/MT5 for algorithmic trading, the proprietary ActivTrader for web-based trading, and TradingView, where social traders can connect with 50M+ peers. ActivTrades offers a €20,000 investor compensation fund or compensation for up to 90% of deposits, and enhanced client protection with funds secured up to $1M.

Read more on ActivTrades »
4.9/5 in this category

Pros & Cons

  • Demo Account
  • Highly Regulated
  • Low Spreads
  • No Choice of Trading Accounts

ACY Securities

In Summary Swap-free trading with the MT5 trading platform

ACY 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.

Read more on ACY Securities »
4.7/5 in this category

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

Eightcap

In Summary Competitive pricing + excellent daily videos

Eightcap 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.

Read more on Eightcap »
4.6/5 in this category

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

Dukascopy

In Summary a Swiss Bank and a broker

Dukascopy belongs to the best Forex brokers in Sweden due to its Swiss FX Marketplace (SWFX), an ECN solution at the core of its excellent STP/NDD/ECN environment, connecting to 20+ banks for deep liquidity and ultra-fast order execution. High-volume and high-frequency traders can decrease costs via a volume-based rebate program from the average Forex costs of 0.2 pips for a minimum commission of $7.00 per 1.0 standard round.

Traders get MT4/MT5 and JForex or can request account management services from €1,000 or a SEK equivalent. Dukascopy also offers an excellent cryptocurrency environment featuring Dukascoin and cryptocurrency deposits and withdrawals.

Read more on Dukascopy »
4.6/5 in this category

Pros & Cons

  • Quality trading tools and in-house research
  • Banking services and trading as a bundled service
  • Competitive trading fees with volume-based discounts
  • Excellent STP/NDD/ECN trading infrastructure
  • Account verification requires a video call

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:

  1. Copy trading: A passive approach where traders copy signal providers automatically.
  2. Social trading: Social traders engage with a community but place trades manually.
  3. MAM/PAMM trading: Traditional third party account management that includes performance fees.
  4. Short-term approach that usually requires algorithmic trading solutions for efficient results.
  5. 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.

FAQs

Can you trade Forex in Sweden?

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Forex trading in Sweden is 100% legal.

What is the best trading platform in Sweden?

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This depends on individual preferences, but MT4 remains the market leader.

Is it safe to trade Forex in Sweden?

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Sweden has a safe Forex market regulated by the domestic regulator FI.

Can you make money with Forex trading in Sweden?

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Yes, you can make money with Forex trading in Sweden, but it depends 100% on the trader.

Christopher Lewis
About Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.