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Best Forex Brokers In Europe – 2023 Ranked & Reviewed
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Best Forex Brokers In Europe – 2023 Ranked & Reviewed
Forex trading is one of the most active markets in the world, where different currency pairs are exchanged. To gain access to this market, you must open an account with a Forex broker, who will act as an intermediary between you and buyers or sellers. Whether a professional or a novice trader, you will always look for the best broker on the market to make your trading easier and more profitable, by reducing your trading costs.To get more news about best forex brokers in europe, you can visit wikifx.com official website.
At Investing in the Web, we aim to assist users in finding the investment platform that closely matches each user’s unique needs. If you’re searching for the best European Forex broker or are still unsure which broker is best for you, continue reading this article to explore the list of the best European Forex brokers.
Best Forex Brokers in Europe
Forex brokers tend to focus on currency trading by offering a wide range of currency pairs and providing you with the needed tools to enhance your trading experience, such as charting tools, technical indicators, and economic calendars.
Interactive Brokers is one of the biggest global brokers, where you can access over 150 markets in 33 countries. Almost all financial instruments are available on their platforms, such as stocks, bonds, ETFs, Forex, Funds, Commodities, Options, Futures, CFDs, Crypto Futures, and even penny stocks. The company was founded in 1978, is listed on the NASDAQ exchange (Ticker: IBKR), and is regulated by many international top-tier regulators.
Interactive Brokers is one of the best options for experienced investors looking for advanced features and a high level of customization through the TWS platform (desktop version). Additionally, the web version and the mobile app, IBKR GlobalTrader, are well-designed and more user-friendly for beginners.Interactive Brokers provides several account base currencies without any minimum amount, which is convenient for international investors. In addition, they have low trading fees, spreads, and margin rates.
There is no minimum required amount to open an account at IBKR, but you can only use bank transfers (wire/SEPA) for deposits and withdrawals, which is a significant drawback compared to other brokers. Furthermore, you are eligible for only one free withdrawal per month.
Founded in 2008, Plus500 is an online broker offering a wide range of financial products, including real shares and CFDs on forex, indices, shares, commodities, options, ETFs, and cryptocurrencies. It is available in over 50 countries and is listed on the London Stock Exchange.The web platform you will use is the WebTrader, Plus500’s proprietary platform, offering a stable trading experience and easy access from multiple devices, including a mobile app. All platforms are easy to use and responsive, and you can start testing the features by opening a demo account.
In the Forex market, you will find any major currency pairs where you can leverage up to 30x, per EU regulation. You have all the tools for Forex trading: stop losses, limit orders, market orders and trailing stop orders. The spreads for each currency pair differ depending on its liquidity and the market environment when your order is placed.
Finally, it is regulated by financial regulators like the FCA and CySec, meaning that Plus500 is appropriately supervised and that there is an investor protection scheme under the entity you open an account with. For instance, If you open an account as a European investor through Plus500CY Ltd, you are protected up to €20,000. Additionally, Plus500 provides negative balance protection for CFD trading on a per-account basis – only to retail clients from the European Union.