2020 has been a tough one for nearly all of us. The global Forex community is no exception, either. We've been near market and economy crashes, with our personal and collective future-facing consistent danger. However, even during troubling times, there's value in the Forex market. Investors just need to focus on making sure that they place their hard-earned money in reliable exchanges. Investor security should always be the top priority.

If you're interested in the European Forex, the market can be quite welcoming. The European Union in itself is a highly productive and beneficial region for all sorts of Forex activities. Economic integration provides a higher and safer ground for trade. Simultaneously, forex activities in such competitive and potent areas can be rather complicated and risky. Your budget, investment options, potential scammers, and other risks are an inevitable part of the journey.

Best European Forex Brokers in 2020

Luckily, the Traders Union has the support of reliable and expert Forex brokers. When you involve in Forex via Traders Union brokers, you mostly make your investments secure. There's no loss of money; instead, you get a routine cashback!

Do you prefer watching videos? Then watch the video summary of this article.

Below you will find all the information.

Tips for Trading with European Brokers

With the use of today’s technology, trader’s from around the globe can easily open accounts with European brokers for Forex trading. However, it is important to know that many broker companies that are registered in Europe provide the level of quality for their clients and may lack transparency funds safety. To decide which brokerson the European market offer good conditions and profitable trading the following is important to take into consideration. Firstly, check the broker’s compliance with the following criteria:

  • The length of operation in the market should be more than 2 years.

    For example, Ava Trade and FxPro commenced operating in Europe in 2006, XM Group commenced in 2009 and FXTM commenced in 2011. Admiral Markets who is registered in the UK first registered its operation in London in 2001.

  • Ensure the broker is licensed in Europe.

    For example, AvaTrade holds several licenses by various regulators, but you will need to check it is licensed by a European regulator which is currently regulated by BVI FSC — the Financial Services Commission of the British Virgin Islands. FXTM and XM Group brokers are both licensed by CySEC (Cyprus Securities and Exchange Commission), Admiral Markets UK by FCA (The UK Financial Regulatory Authority). FxPro is licensed by two European regulators - CySEC and FCA.

  • Does the broker have positive feedback from its European clients?

    Admiral Markets UK currently holds the most positive feedback and traders from 40 countries worldwide use its services.

  • Check the broker’s spread size.

    It is common for many European brokers to set floating spreads. Therefore, you will need to check the brokerage commission. AvaTrade starts at 0.8 pips, XM Group starts at 0.6 pips, and FXTM and FxPro both start at 0.1 pips. Admiral Markets in the UK start at 0.0 pips. These spreads specified are the minimum possible values. Spreads can change significantly with market fluctuations.

  • Check the minimum deposit amount.

    The Admiral Markets UK broker allows trading with a real account deposit from $1, XM Group from $5, FXTM from $10, AvaTrade and FxPro both from $100. Admiral Markets UK offers an Invest. MT5 account that allows you to trade Forex with a minimum deposit.

  • Ensure the broker’s available assets.

    All brokers registered in Europe allow you to trade currency pairs, CFDs on stocks, indices, metals, commodities. Cryptocurrency transactions are available with brokers AvaTrade, FXTM, and Admiral Markets UK.

  • The broker’s maximum leverage.

    Admiral Markets UK allows you to trade with leverage up to 1:30, AvaTrade — up to 1:400, FxPro — up to 1:500, XM Group — up to 1:888, FXTM — up to 1:2.000. The leverage for all European brokers may vary depending on the selected trading instrument.

  • What trading platforms does the broker offer?

    MetaTrader 4 is the most popular platform among traders. Admiral Markets UK, XM Group, FXTM, AvaTrade and FxPro brokers provide their clients with access to the MT4 terminal.

  • Does the broker offer a bonus and affiliate programs?

    All European brokers offer partner traders the ability to earn additional income for attracting new clients to the company with affiliate programs. There are also bonus programs with a limited or unlimited period.

  • Options for depositing and withdrawing funds.

    Brokers operating in Europe offer clients to deposit and withdraw via bank transfer, Visa/MasterCard, and electronic payment systems.

Top 5 European Forex Brokers in 2020

If you're confused about which Forex brokering company is the right one, here's a little helping guide. We have listed the top five European Forex brokers of 2020. They have an established record of delivering successful results to satisfied customers in different industries!

  • 1

    Best European Forex Broker - FxPro

    FxPro has been in function for almost 14 years now. The company works through trading terminals MetaTrader 4, MetaTrader 5, and cTrader. Virtually all of the reviews of this partner company are positive and prove just how competent it is worldwide. The company also offers trading applications in order to give you updates on the go. The apps are available on both iOS and Android and have a quality interface with multiple language translations.

    👍 FxPro broker has an obvious advantage over competitors:

    a unique service to protect accounts from negative balance. The broker offers automatic transactions monitoring and a special risk management system, due to which a negative balance is excluded;
    investor compensation fund, ensuring the clients' funds;
    trusted and reliable advisors for trading available for novice traders;
    reliable customer support and a wide range of services, even in conditions of negative balance on traders' accounts;
    personal manager services and daily market analytics for VIP-accounts holders;
    the company’s capital exceeding 100 million euros;
    “Islamic” accounts availability (no swaps) for traders adhering to the Sharia principles;
    a high level of training of research department specialists, who provide clients with the most reliable working conditions.

    👎 FxPro weaknesses in comparison with competitors:
    the minimum deposit is $100, which can be high for novice traders;
    not enough debugged registration procedure for the affiliate program.

  • 2

    Best European Forex Broker - Admiral Markets UK

    Admiral Markets is a UK based Forex brokering company. They're about a decade old, but their expertise is a culmination of lifetimes of experimentation. The specialists at Admiral Markets basically aim to make trading more comfortable, reliable, and promising for its customers. The company focuses its efforts on developing modern trading technologies for all sorts of customers. They've expanded their efforts on a global scale and are helping overcome big and small Forex issues.

    👍 Admiral Markets broker has an obvious advantage over competitors:

    professional legal protection if necessary;
    a wide range of training materials for novice traders;
    quick withdrawal of profits.

    👎 Admiral Markets weaknesses in comparison with competitors:

    frequent quotations slippages;
    lack of relevant news;
    lack of a trading session schedule;
    overestimated commissions when trading.
  • 3

    Best European Forex Broker - XM Group

    XM group has been around since 2009 and has grown its work plate generously over the years. The company can trade through terminals MetaTrader 4, MetaTrader 5, as well as MetaTrader 4 multiterminal. With 25 payment systems, it lives to serve a diverse variety of absolute indiscrimination. There are 16 trading platforms, and the company is responsive 24 hours, five days a week. XM group has several licenses and offers maximum transparency to Forex trade customers around the globe.

    👍 XM Group broker has an obvious advantage over competitors:

    ECN-accounts for trading, with a guaranteed absence of requotes. The speed of order execution by XM Group broker almost does not exceed 1 second;
    the absence of charges over narrow spreads (the so-called "markup");
    a wide range of trading instruments: over 55 currency pairs (including cross rates), cryptocurrencies, stocks, raw materials (grain, cocoa, cotton), metals (palladium and platinum inclusive);
    no commission on the part of the company for depositing or withdrawing funds. The costs of payment system services are covered by the XM Group broker;
    multilingual customer support twenty-four/five.

    👎 XM Group weaknesses in comparison with competitors:

    no PAMM-accounts, social trading platforms and other passive profit opportunities;
    limited choice of trading platforms. The broker offers just various modifications of MT4 and MT5 to work on PCs and mobile devices.
  • 4

    Best European Forex Broker - AvaTrade

    Ava Trade is amongst the pioneers of online trading activity. They host all sorts of customers, with any value of spreads, and offer excellent trading services. The company is available for service 24/7 and extends its availability all over the globe. It offers more than 200 trading instruments to come up with all sorts of trading strategies.

    👍 AvaTrade broker has an obvious advantage over competitors:

    a wide range of trading tools;
    services accessibility on five continents due to the availability of appropriate licenses;
    day-and-night all-around customer support in 14 languages;
    wide selection of trading platforms;
    mobile versions of trading platforms for much more comfortable trading;
    swap-free accounts for Muslim clients, excluding elements of gharar and maisir;
    segregated account where you can store customer funds safely and securely;
    possibility to conduct automated trading using tools such as advisors, indicators, etc.;
    no restrictions for scalping supporters in trading;
    large amount of quality training materials; regular webinars for traders of varying degrees of preparation.

    👎 AVATrade weaknesses in comparison with competitors:

    website interface that requires simplification and improvement;
    insufficient operational efficiency of support specialists;
    periodic trading terminal freezing.
  • 5

    Best European Forex Broker - FXTM

    FXTM is the latest and arguably the most remarkable innovation in the world of Forex brokers. They're a relatively new name but have worked hard and consistently in order to bring their ideas to the entire world. FXTM abides by major global licenses and is perfect at all levels of Forex trading. It offers copy trading options to novice customers and has online apps for on-the-go trading. The company also hosts cryptocurrency trading options. In short, this one's the perfect idea for innovative trading experience.

    👍 FXTM broker has an obvious advantage over competitors:

    large number of trading accounts with various conditions satisfying any trader requirements;
    accessible and relevant training materials for novice traders;
    opportunity to use automatic programs in trading.

    👎 FXTM weaknesses in comparison with competitors:

    periodic delay in funds withdrawing;
    a very limited choice of services for investors (only a system for transactions copying);
    low efficiency of customer support;
    no access to trading on weekends (Saturdays and Sundays);
    no opportunities for passive earnings (PAMM accounts).

Top 5 Forex Brokers Comparison

Still confused about which one of the top five brokers would suit you best? Let us help. Here's a breakdown of all the basics you need to know about them:

Company Trading Platforms Trading Instruments Trading Currencies Deposit and Withdrawal Means Leverage Range
FxPro MetaTrader 4, MetaTrader 5, cTrader, FxPro Markets Forex, Spot metals, Spot indices, CFD for shares, CFD for agricultural products, CFD for energy, CFD for indices -10 USD, AUD, JPY, CHF, GBP, EUR, PLN Bank cards, bank transfers, electronic payment systems 1:1 – 1:500
Admiral
Markets
MetaTrader 4, MetaTrader 4 mobile version, MetaTrader 4 Supreme edition, MetaTrader 5 CFD for Spot metals, spot energy resources, spot indices, index futures CFD, CFD for securities EUR, USD, GBP, CHF, BGN, CZK, HRK, HUF, PLN, RON Wire Transfer, Visa, MasterCard, Maestro, E-wallets 1:25 – 1:500
XM Group MT 4, MT 5, MT 4 multiterminal Forex trading and CFDs on Stocks, Commodities, Equity Indices, Precious Metals, and Energies USD, EUR, GBP, JPY, CHF, AUD, RUB Visa, MasterCard, Maestro, Bank transfer, electronic systems 1:1 – 1:888
Ava Trade MT4, Ava Trader, MirrorTrader, ZuluTrader, Mobile app, Ava Trader Web, MT4 Web Forex, Metals, CFD, trade options, securities USD, EUR MasterCard, Wire transfer, electronic systems 1:200 – 1:400
FXTM MT 4, MT 5, iOS/Android, Multiterminal, WebTrader, Desktop Forex, Spot metals, Share CFDs, CFDs on commodity futures, CFDs indices, CFDs on cryptocurrency EUR, USD, GBP, INR, IDR, PLN, NGN, CZK, RUR, GSH, DZD, MYR, AFN, LAK, VND, EGP, BDT, IQT, THB, CNY, TZS, BTC, ETH, LTC, DASH Bank cards, local transfers, Bank Wire, E-wallets Exinity Limited: 1:1000, ForexTime Limited: 1:30, ForexTime UK: 1:30

How to Choose the Best Forex Broker?

Even the most recommended and popular Forex brokers may not suit your purposes exactly how you'd like it. Here's what you need to factor in before selecting a broker company:

Security

The primary criteria investors need to focus on is the level of security a broker offers. No investor will hand over thousands of dollars to someone that just claims that they're legit. Luckily, checking the credibility of Forex brokers isn't tricky. There are regulatory agencies worldwide that rate countries that are trustworthy or those that are known for fraud.


Make sure that the broker you consider, keeps your money safe. Scams are a common threat to many people in this field. The broker you choose should strictly abide by legal limitations. Investors need to make sure that they are familiar with the relevant regulatory authorities.

Licenses and brokers’ regulation

Company European license Another jurisdiction
Admiral Markets UK Financial Regulatory Authority (FCA, No. 595450) Australian Securities and Investments Commission (ASIC, No. 410681 AFSL)
XM Group Cyprus Securities and Exchange Commission (CySEC, No.120/10) Belize International Financial Services Commission (IFSC, No.000261/106);
Australian Securities and Exchange Commission (ASIC, No.443670)
FxPro UK Financial Regulatory Authority (FCA, No.509956);
Cyprus Securities and Exchange Commission (CySEC, No.078/07)
Financial Supervision Service of South Africa (FSCA, No. 45052);
Bahamas Securities Commission (SCB. No.SIA-F184)
AvaTrade is regulated by the Central Bank of Ireland (No.C53877);
Financial Services Commission BVO (BVIFSC, No. SIBA/L/13/1049)
Australian Securities and Investments Commission (ASIC, No.406648);
The Financial Services Agency of Japan (FSA, No. 1574); Financial Supervision Service of South Africa (FSCA, No. 45984);
FXTM Cyprus Securities and Exchange Commission (CySEC, No.185/12);
UK Financial Regulatory Authority (FCA, No. 600475)
Financial Services Commission of the Republic of Mauritius (FSC, No. C113012295);
Financial Supervision Service of South Africa (FSCA, No. 46614)

Transaction Costs

Another important criterion that investors need to consider is the transaction cost of the broker. No matter what type of investments are made through a broker, there are always transaction costs. Naturally, it's only crucial that investors want to look for the most affordable rates.

Trade and non-trade commissions of the brokers

Company Spread/commission Replenishment/withdrawal commission
Admiral Markets Spread from 0.5 pips Replenishment:
  • ● From 1 1 EUR / GBP / USD / CHF / PLN / CZK / HUF / BGN / RON / HRK when replenishment with Skrill
  • ● From 1 EUR / GBP when replenishment with Neteller
Withdrawal:
  • ● 2 free withdrawal requests per month
XM Group Spread from 0.6 pips No
FxPro Spread from 0 pips No
AvaTrade Spread from 0 pips No
FXTM Spread from 0.1 pips Replenishment: commission free Withdrawal:
  • ● 0.5% when withdrawal with FasaPay
  • ● 2 EUR/ 3 USD/ 2 GBP when withdrawal with Visa, Mastercard, Maestro
  • ● 1% when withdrawal with Crypto, Bitcoin
  • ● 2% when withdrawal with WebMoney
  • ● 1.5% when withdrawal with Yandex.Money, QIWI
  • ● 0.5% when withdrawal with Perfect.Money
  • ● €30 when using bank transfer

Deposit and Withdrawal

A decent Forex broker will allow investors to deposit funds and withdraw potential earnings without any hassle. There should be no reason for a broker to make withdrawals or deposits difficult. The best Forex brokers facilitate a maximum trading volume.

Deposit and withdrawal methods

Company Methods quantity Payment systems available
Admiral Markets 11

Replenishment:

  • ● Bank transfer
  • ● Klarna
  • ● Visa
  • ● Mastercard
  • ● PayPal
  • ● Skrill
  • ● Neteller
  • ● SafetyPay
  • ● Przelewy
  • ● iBank&BankLink
  • ● Ideal

Withdrawal:

  • ● Bank transfer
  • ● PayPal
  • ● Skrill
  • ● Neteller
XM Group 7
  • ● Visa
  • ● Mastercard
  • ● Maestro
  • ● Skrill
  • ● Neteller
  • ● Bank transfer
  • ● Local bank transfers
FxPro 6
  • ● Visa
  • ● Mastercard
  • ● Maestro
  • ● Skrill
  • ● Neteller
  • ● Bank transfer
AvaTrade 6
  • ● Visa
  • ● Mastercard
  • ● Maestro
  • ● Skrill
  • ● Neteller
  • ● Mobile Money Africa
FXTM 15
  • ● FasaPay
  • ● Local bank transfers in Nigeria
  • ● Local bank transfers in Indonesia
  • ● Visa
  • ● Mastercard
  • ● Maestro
  • ● Skrill
  • ● Crypto
  • ● VLOAD
  • ● TC Pay e-wallets
  • ● Neteller
  • ● WebMoney
  • ● PerfectMoney
  • ● Bitcoin
  • ● Bank transfer

Trading Platform

Trading platforms are crucial for investors that are interested in online Forex trading. Most of the activity happens through the brokers' trading platform. If the platform is inaccessible and sophisticated, it's going to become an issue.

Brokers’ trade platforms

Company МТ4/МТ5 Desktop МТ4/МТ5 mobile versions Web-platform Proprietary developments
Admiral Markets Yes Yes Yes No
XM Group Yes Yes Yes No
FxPro Yes Yes Yes Yes
AvaTrade Yes Yes Yes Yes
FXTM Yes Yes No No

Scale of Trading

Trading platforms are crucial for investors that are interested in online Forex trading. Most of the activity happens through the brokers' trading platform. If the platform is inaccessible and sophisticated, it's going to become an issue.

Type of broker

Company For novice traders For professionals For investors
Admiral Markets Yes Yes No
XM Group Yes Yes No
FxPro Yes Yes No
AvaTrade No Yes Yes
FXTM Yes Yes Yes

The European Brokers Options for Funds Deposits and Withdrawals

European brokers offer various methods for traders to deposit and withdraw funds from trading accounts. The number of available methods for depositing and withdrawing money depends on the requirements of regulators and the company's policy so it is important to check each broker.


The table below outlines the most popular methods for accounts opened with European Forex brokers.

Methods for depositing and withdrawing funds

Broker Name Bank transfer Visa, MasterCard cards Electronic payment systems Min/max time for crediting funds
AvaTrade Yes Yes PayPal, Webmoney, Neteller, Wire Transfer, Skrill A few minutes/5 business days
FXTM Yes Yes Skrill, Crypto, VLOAD, TC Pay, Neteller, WebMoney, Perfect Money, Bitcoin A minute/48 hours
FxPro Yes Yes WebMoney, Neteller, Skrill, and PayPal Instantly/6 business days
XM Group Yes Yes Neteller, Skrill, China UnionPay Instantly/5 business days
Admiral Markets Yes Yes Neteller, Skrill, SafetyPay, PayPal, Klarna, Przelewy, iBank&BankLink Instantly/3 business days

It is worth noting that brokers do not charge additional fees for replenishment and withdrawal of funds. However, the commission for each transaction is charged by the payment company. A fee of 0.5 to 3% may be charged depending on the method of deposit.

Some brokers try to minimize the non-trading costs for them as an incentive for their clients. Some of these incentives include Admiral Markets UK allows you to make two free withdrawals every month using bank transfer and Neteller, Skrill, PayPal systems. AvaTrade and XM Group brokers offer welcome bonus for the first replenishment of a trading deposit.

The Trader’s Union helps you save on trading in Europe

You can reduce your trading costs if you have chosen a broker that is registered to trade in Europe. The Traders Union rebate service offers rebates for trading with its partners in Europe. To take advantage of these savings, simply follow these steps:

  • 1

    Register on the Traders Union website – it’s quick and free!

  • 2

    Choose a reliable broker’s using Traders Union unique rating system.

  • 3

    Visit the official website of the broker company via the Trader Union's referral link which is located on the broker’s profile.

  • 4

    Open a new trading account.

  • 5

    Make your deposit and start trading on Forex.

When you follow these simple steps, the Traders Union provides you with your spread rebate for each completed transaction. The funds are paid to you daily or monthly (depending on the conditions) directly into your Traders Union account.

Please note
All traders who use the Trader’s Union receive the rebate for all transactions regardless of whether they are profitable or not. In addition to this, the spread is refunded for independent trading as well as transactions made using transaction copy services.

How much can you earn trading with the Traders Union?

The rebate that you receive from the Traders Union is partial to the spread which is the broker’s commission for making the transactions. The broker is prepared to fall short of the spread in favor of traders to attract more potential new traders. You can also earn additional income using an affiliate program offered by the broker when you trade via a company such as the Traders Union.

How much can you earn trading with the Traders Union?

Example of profits made with the Traders Union – the benefits

For example, you open an account with XM Group and are trading with EUR/USD pairs with a volume of 1 lot per day, which is 100,000 units of the base currency. Traders Union gets $10 per lot from the broker, and then pays 80% of this amount to the trader. So, the amount of the rebate is10*0.8=$8. That is, for each day when trading on Forex, you can earn $8. At the same time, you get compensation not only for profitable trades but also for unprofitable ones.

The Traders Union offers an easy to use the special calculator available on the website. This handy device allows you to calculate the approximate amount of your additional income. To calculate the rebate from the Traders Union using a calculator, simply:

  • 1

    Select a broker from the dropdown list and click Next.

  • 2

    Indicate the average volume of lots per day and the currency pair.

  • 3

    Specify the number of trading days.

  • 4

    Click Next.

About the Author

John Mayer

Mr. John Mayer graduated with a master’s degree in Data Analytics from one of the top business schools in the UK. Since then, for the last ten years, he has been working as an analyst in the foreign exchange market.

During his time as an analyst, he has worked with several clients. His years of experience in the field led him to want to share what he has been able to learn.

FAQs regarding the best Forex brokers in the EU

How to choose the best Forex broker with Traders Union?

Selecting the right Forex broker can make or break your investment earning capabilities. The Traders Union offers a Forex broker rating tool that ranks the brokers based on several different metrics. These metrics are taken from the analysis of information from one of the world's largest trading communities. The rating doesn't only consider the reviews but also considers the volume of trading the broker engages.

The rankings also receive an update frequently with companies regularly jumping positions based on current events.

How to open an account with a Forex broker in Europe?

Opening an account with the broker is simple: investors simply need to visit the broker's website. There they can review the different types of investor account packages available to them. After selecting the account, they have to fill in the necessary information the broker requires. Once the account's creation is complete, the investors can then arrange for a transfer of funds from their bank account to the trading account. Once the funds are transferred, the investor is now completely ready to begin their trading.

How secure is online Forex trading in the EU?

Online Forex trading is completely secure. Websites will often offer high-level end-to-end encryption to help ensure that all transactions are secure and private. However, make sure you’re on the lookout for phishing scams. Only use the official platforms!

Do I need any documents to open an account with a European broker?

Open an account with a broker and replenish a deposit to start trading on Forex. Most European brokers require clients to be verified. To open your account, you will need to provide:

● Scanned copies of internal passport and/or international passport, taxpayer code.

● Documents confirming the registration address - most often the residential rental payment receipts.

● Bank statement, bank card scans.

How much can Iearn per day trading with a European broker company?

The amount of income when trading Forex through a European broker depends on the trading activity of the trader and the conditions of the chosen company. However, the daily profit can significantly increase if you are a partner of the Traders Union and receive the rebate.

After you complete your registration on the Traders Union website and open your account with a broker using the Union's affiliate code, you will be reimbursed for the costs of the spread up to 100%. You will receive this rebate on both profitable trades and unprofitable trades.