The Forex market in Europe is one of the best regulated in the world. The regulator on the European Union level is The European Securities and Markets Authority (ESMA). ESMA gives high-level regulation rules and every country in the European union transposes these rules in its national legislation.
UK forex brokers still follow the same rules as the brokers in the European Union until the UK and EU negotiate finally the regulation in the UK after BREXIT.
Every trader has different criteria of what is most important for trading. Europe is one of the best places to trade forex in the world. The completion between forex brokers is very high and the trading conditions are one of the best. The spreads (the difference between bid and ask price) are low, the deposits and withdrawals happen fast and with low fees. The biggest downside of European brokes is the limitation of the leverage. For retail traders, the maximum allowed leverage is 30:1. If you cover the conditions for a professional trader, you could get much better leverage conditions. The forex brokers in Europe also are not allowed to offer any bonuses to their clients.
| Forex Broker | Min deposit | Leverage | Deposit method | Platforms | Spread | Swaps | Support |
|---|---|---|---|---|---|---|---|
| Pepperstone Visit |
200 AUD | 1:30 |
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| Plus500 Visit |
100 USD | 1:30 |
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| XTB Visit |
250 USD | 1:30 |
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| XM Visit |
300 USD | 1:30 |
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| CMC Markets | 0 USD | 1:30 |
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| IG Markets | 300 USD | 1:30 |
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Many forex brokers in Europe offers the most used retail platform - Meta Trader 4 and Meta Trader 5. C Trader is also offered by the brokers. Some of the brokers offer add-ons to Meta Trader which helps the traders to improve their trading and profitability. Other part of the brokers concentrate their efforts on developing of own platforms. These brokers added a lot of options in their platforms like news, different options for better analysis, and many others.
There is a big variety of trading instruments. The forex brokers offer over 80 forex pairs, a lot of CFDs based on stock indices and single stock shares, cryptocurrencies, different types of commodities (corn, wheat, and others), oil, gold, silver, and many others.
The leverage for the retail clients is limited to 30:1 for major forex pairs, 20:1 for the others forex pairs, 20:1 for major world indices, 10:1 for the other indices, 5:1 for CFDs based on single stock CFDs, and 2:1 for CFDs based on cryptocurrencies. For the traders who cover the conditions for professional traders, the forex brokers offer bigger leverage which could reach 500:1. Another option if the leverage is very important for your trading style is to go to an offshore broker.
The conditions for trading forex in Europe are one of the best ones. Spreads, SWAPs, and fees are very competitive. The main downsides are the limited maximum leverage and the ban for bonuses. The variety of trading instruments and platforms is very rich. So if you live in Europe we recommend you use the European forex broker if you don't have certain to use a broker outside of Europe.
Miroslav Georgiev is Senior Risk Executive with 20+ years of professional wide-ranging experience in multinational forex companies. Take part in Global setup and development of Forex and CFD being an active part of the Business Team. Build and manage Risk management departments and teams.
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