Romania is one of the biggest communities for forex trading in Europe. According Survey of Triennial Central Bank from 2016, there are 110 000 forex trades in Romania. The country is with over 19 million population and it is part of the European Union since 2007.
The local regulator in Romania is the Financial Supervisory Authority or ASF (Autoritatea de Supraveghere Financiara). The leverage limits and bonus restrictions are regulated from the European Securities and Markets Authority (ESMA).
The local forex market in Romania is dominated by the main world and European forex brokers with regulation from the United Kingdom (FCA) or Cyprus (CySEC). As Romania is part of the European Union, the leverage is restricted to 30:1 for main forex pairs and 20:1 for minor ones. If you prefer higher leverage, you could be heading to other jurisdictions.
Other important criteria are open account process - how fast and convenient is the process, support of the broker - how fast and exact they reply. The deposit and withdrawal process is could be also important. If you prefer a method for payment is available for the chosen broker and other. If you are from Romania it will be good if the broker supports local currency (RON) payment.
| 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 |
5 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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Based on your requirements, a different Forex platform could be the most suitable for you. Different trading platforms have different features. For example, more time frames, free news, and analysis, the possibility for algorithmic trading, and others. As there is a big number of brokers who are operating and offer Forex trading in Romania, you have chosen this one that fits the best for you - MetaTrader 4, MetaTrader 5, C Trader and a lot of custom developed trading platforms for every single broker.
As we already discussed the brokers regulated in Romania and the European Union could offer limited leverage for their retail clients. If you cover the conditions for professional clients, you could benefit from higher leverage. Another option is to choose a broker regulated in another jurisdiction.
Some of the brokers offer even more than 2 000 trading CFDs. They include CFDs based on Forex (FX), main world indices, Single Stock CFDs, ETFs, commodities, Metals, Cryptocurrencies, and others.
The Forex market in Romania offers a big variety of brokers between you could choose. The offer different leverages, platforms, and trading instruments. Romanian regulation as part of European union's regulation is one of the strongest jurisdictions and you can be calm about the security of your trading funds.
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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