Compare top 6 best forex brokers in Europe for 2024

For this guide, our experts reviewed 57+ of the best forex trading apps in Europe to trade forex for beginners.
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Updated: Dec 1, 2023
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Our expert panel tested all the best forex brokers in Europe and rated their features according to 8 key criteria, including regulatory status, the range of currency pairs on offer, and overall trading experience.

The panel set out to answer the question: what’s the best forex trading app in Europe for European users? 

Read our verdict for Europe below to compare the best forex trading platforms.

What is the best forex broker in Europe?

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Our experts rank Plus500 as the best forex broker in Europe.

The list below shows the three best European forex brokers. These are the top forex trading apps in Europe for their security, service, and support.

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1
Min. Deposit
100 €
Best offer
User Score
10
Handel in +2000 CFD's op aandelen, forex, indices, crypto, opties, grondstoffen en meer
Onbeperkte risicovrije demo-account
0 commissies & aantrekkelijke spreads
Start Trading
Payment Methods:
American Express, Apple Pay, Debetkaart, Discover, Google Pay, Kredietkaart, Mastercard, Overschrijving, PayPal, SEPA, Trustly, Visa, ,
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
100 €
Best offer
User Score
10
Start Trading
Payment Methods:
Apple Pay, Google Pay
Full Regulations:

71% of retail CFD accounts lose money.

3
Min. Deposit
85 €
Best offer
User Score
9.9
MT4 met instrumenten in 9 time-frames met 30 vooraf geïnstalleerde indicatoren
Handel op spreads van zo laag als 0.0 pips
Meerdere financiering en snelle opnamemogelijkheden. Kies uit PayPal en meer
Start Trading
Payment Methods:
Cryptocurrencies, Kredietkaart, Overschrijving, PayPal, ,
Full Regulations:
ASIC, CySEC, FCA
74-89% of retail CFD accounts lose money

Top 6 online forex brokers Europe, reviewed

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1. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 60 forex pairs with leverage up to 30:1. 

Plus500 has something for all types of forex trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding which is dependent on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency CFD trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

How we chose the best Europe forex brokers

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Our expert reviews panel is made up of currency traders with years of experience in the forex markets. It includes our Data Analyst, Dan Ashmore, Senior Editor of News, Jayson Derrick, and long-time forex trader, Prash Raval. The panel includes an independent fact checker, Richard Stutely.

Here are the 8 key criteria which the panel used to rate each platform.

  • Regulation with a trusted financial institution. We only recommend forex brokers for beginners that are regulated in Europe and offer top-tier protection to their clients.
  • Low minimum deposit requirements. An accessible forex trading platform in Europe, with a low minimum deposit, scored higher in our rankings.
  • Mobile app availability. Our experts gave preference to the forex brokers in Europe with the best forex trading apps.
  • Number of currency pairs available to trade. We expect Europe forex brokers to offer a comprehensive service where you can trade major, minor, and exotic currency pairs.
  • Amount of leverage on offer. You need leverage to trade forex, so we looked for platforms that offered lots of leverage, within the limitations set by local European regulators.
  • Tight spreads. We sought the best value for the average user. Small spreads mean a lower cost of trading.
  • Lowest commissions and other fees. Our experts don’t like hidden fees and unexpected costs, so brokers with a clear fee structure performed well.
  • Compatibility with trading software. Any European forex broker that offers integration with popular trading software like MetaTrader 4, MT5, or cTrader received a high rating.

More about the best forex trading platforms in Europe

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Which currency pairs can I trade in Europe?

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You can trade major, minor, and exotic pairs when you sign up for the best forex trading platform in Europe. The majors and minors refer to the largest and most popular currencies paired with each other, while the ‘exotics’ are everything else.

  • Major pairs. The major pairs are made up of the US Dollar paired with the other most highly traded currencies. Major pairs include: USD/EUR, USD/GBP, USD/JPY, USD/CHF, USD/AUD, USD/NZD, and USD/CAD.
  • Minor pairs. The minor pairs include at least one of the Euro, British Pound, or Japanese Yen paired with other large currencies, but do not include the US Dollar. 
  • Exotic pairs. Exotic pairs include a major currency ‘crossed’ with a developing currency. There are many exotic pairs but they include things like GBP/HUF, EUR/MXN, and JPY/ZAR.

What forex markets are available in Europe?

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There are two markets that are available with all top forex brokers in Europe. One is the ‘spot’ market, another is the futures market, where you use futures contracts to predict future price movements. Here is some more detail on both options.

  • Spot forex. Trading the spot market means to buy and sell currencies instantaneously at the live market rate. This is the most common way to trade forex in Europe for most people.
  • Forex futures. Futures contracts are an agreement to buy or sell a currency at a fixed price at a set date in the future. Futures require more understanding of the economic factors that impact prices over time. For that reason, they’re generally only used by people with experience of currency trading.

Is MT4 available in Europe?

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Yes, MetaTrader 4 is legal in Europe. When you use MetaTrader software, you have to sign into a brokerage account and any live trade you place goes through a forex trading platform. As long as you can connect to a legal European forex broker, you can use MT4 or MT5. 

What’s the minimum forex trade size in Europe?

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The industry standard is 0.01 ‘lots’, which is equivalent to 1,000 units of the currency you want to trade. This is known as a ‘micro lot’. A ‘lot’ equals 100,000 units of the currency you want to trade.

Can I trade other assets with a forex broker in United States?

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You can, though it depends on the type of broker you choose. The best CFD brokers in Europe usually offer other financial markets in addition to currency pairs. If you want to trade other assets, such as stocks or cryptocurrency, then you need either the best trading platforms in Europe or the best crypto exchanges in Europe.

How to trade forex in Europe

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1. Sign up to a European forex trading platform

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Use the list of top-ranked brokers at the top of the page to help you.

2. Create an account and deposit money

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Sign up by providing your personal details and a form of photo ID. Transfer funds to the account through a bank transfer, credit or debit card payment, or another payment method, like PayPal.

3. Search for a currency pair and place your trade

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Find the pair by typing the currency code – such as USD for the US Dollar – and choosing it from the list of results. Enter the details and click ‘buy’ to make the trade.

Choose a broker now

FAQs

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Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.