Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Erste Broker Pros & Cons
- Supervision by the National Bank of Hungary;
- Participation in the Investor Protection Fund (BEVA | Befektető Védelmi Alap) with coverage up to €100,000 per client;
- No minimum investment requirements;
- Various assets and multiple markets, including currency and commodities;
- Advanced trading platforms that ensure fast and convenient access to markets;
- Demo mode for practicing and the Securities account for trading and investing in real markets;
- Client support in Hungarian is available by phone and email.
- Additional trading fees are charged for small trading volumes;
- Popular platforms such as MetaTrader or cTrader are not available;
- Deposits and withdrawals are made only by bank transfers that are slow and expensive.
Erste Broker is one of the leading providers of investment services in the Hungarian market. It is a part of Erste Group which has over 15 million clients. The company is responsible for the provision of brokerage services for residents of Central and Eastern Europe. Erste Broker has been in the market since 1990, is regulated by the National Bank of Hungary (Magyar Nemzeti Bank), and is a member of the Budapest Stock Exchange. It offers access to 24 global exchanges and commodities markets, currencies, and CFDs. The broker’s clients can use leverage in spot, futures, and forward trades, as well as conduct foreign exchange on the interbank market.
TU Expert Verdict
Erste Broker demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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Erste Broker User Reviews
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5-star
0%
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4-star
33%
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3-star
67%
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2-star
0%
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1-star
0%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria4 /10The trading and non-trading commissions of Erste Broker have been analyzed and rated as having High fees, with a fees score of 4/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Erste Broker with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Erste Broker’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Erste Broker Standard spreads Erste Broker OANDA FOREX.com EUR/USD min, pips 1.0 0.1 0.7 EUR/USD max, pips 1.0 0.5 1.2 GPB/USD min, pips 1.0 0.1 0.9 GPB/USD max, pips 1.5 0.5 1.4 Does Erste Broker support RAW/ECN accounts?
As we discovered, Erste Broker does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Erste Broker. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Erste Broker Non-Trading Fees Erste Broker OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0.45 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. HUF 500 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is Erste Broker Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria8 /10Erste Broker has a safety score of 8/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- No negative balance protection
Erste Broker Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation MNB (Hungary) Full Name Magyar Nemzeti Bank (MNB) – Central Bank of Hungary Country of regulation Hungary Investor Protection Fund Up to €100,000 for deposits, €20,000 for investment losses Regulation Level Tier-1 Erste Broker Security Factors Foundation date - Negative balance protection NoVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.1 /10Erste Broker offers the following account options: Demo, Standard.
However, Erste Broker does not provide a Standard account, which can be a drawback for traders who prefer classic spread-based pricing models.
- Demo account
- Standard account with balanced trading conditions
- Low minimum deposit
- No Swap Free account
- No ECN/Raw spread account
Erste Broker account types vs top competitors Erste Broker Plus500 Trading.com Standard YesYesYesECN/Raw spread NoNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged NoNoNoErste Broker accounts trading conditions
Fill in the application to open a trading account with Erste Broker and provide the documents necessary for identity verification. Upon account verification, make a deposit and install the trading platform.
Account type:
Account Type Description Securities account It’s a single account type for trading on the local and foreign stock exchanges, as well as on interbank currency and CFD markets. The choice of trading instruments depends on the platform. To trade Forex and CFDs, use Erste Trader. Erste Trader supports a demo mode. This option is very useful for novice and experienced traders since it allows them to try trading with Erste Broker without depositing their funds. The virtual deposit available on a demo account is HUF 10,000,000.
Erste Broker doesn’t limit itself to one asset type or certain markets. It offers a wide range of financial services and investment instruments.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology4.5 /10Erste Broker received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
Erste Broker offers limited payment options and accessibility, which may impact its competitiveness.
- Bank wire transfers available
- Minimum deposit below industry average
- Low minimum withdrawal requirement
- No deposit fee
- USDT payments not accepted
- Limited deposit and withdrawal flexibility, leading to higher costs
- Only major base currencies available
What are Erste Broker deposit and withdrawal options?
Erste Broker offers a limited selection of deposit and withdrawal methods, including Bank Wire. This limitation may restrict flexibility for users, making Erste Broker less competitive for those seeking diverse payment options.
Erste Broker Deposit and Withdrawal Methods vs Competitors Erste Broker Plus500 Trading.com Bank Wire YesYesYesBank card NoYesYesPayPal NoYesNoWise NoNoNoBTC NoNoNoWhat are Erste Broker base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Erste Broker supports the following base account currencies: USD, EUR, GBP, CHF, HUF.
What are Erste Broker's minimum deposit and withdrawal amounts?
The minimum deposit on Erste Broker is $100, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Erste Broker’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7 /10Erste Broker offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 50 Forex pairs.
- Indices trading
- Passive income with bonds
- Copy trading platform
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by Erste Broker with its competitors, making it easier for you to find the perfect fit.
Erste Broker Plus500 Trading.com Currency pairs 50 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 2800 69 Stocks YesYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions YesYesNoInvestment options
We also explored the trading assets and products Erste Broker offers for beginner traders and investors who prefer not to engage in active trading.
Erste Broker Plus500 Trading.com Bonds YesNoNoETFs YesYesNoCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at Erste Broker by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with Erste Broker in 8 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at Erste Broker is $100. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Quick KYC verification (1 business day or less)
- Account setup process may feel less convenient for beginners
Erste Broker account opening Erste Broker Plus500 Trading.com Online Registration YesYesYesMinimum deposit $100 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 8 20 KYC time (days) 1 3 2 Is Erste Broker available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To start trading with Erste Broker, follow the instructions below:
Go to the broker’s website and click the “Open account” button at the top of the screen.
Provide information necessary for registration, including personal data and contact details. Choose a trading platform and confirm the opening of the Securities account by following the instructions on the website. Upon completion of registration, upload documents that confirm your identity and residence.
Wait until Erste Broker approves your registration. It may take some time since the company has to check the provided data. Upon successful registration and verification of your account, you can make a deposit and start trading on the Erste Broker platform.
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Customer Support
Score:We evaluated Customer Support at Erste Broker by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria6.5 /10Customer support at Erste Broker is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. Erste Broker provides basic support functionality but does not stand out in overall service performance.
InformationThe broker’s clients can contact technical support from 8:00 to 22:00 (GMT+1) Monday through Friday. It is possible to place orders with U.S. stocks by phone on weekdays from 17:30 to 22:00 (GMT+1).
- Technical support is available by phone
- The broker’s offices are located in over 20 cities of Hungary
- No online communication channels
- Clients are serviced with breaks
The following communication methods are available:
- Telephone;
- Fax;
- Email;
- Personal meeting in one of its physical offices.
To get assistance with brokerage and investment services, traders can visit any department of Erste Broker or Erste Bank.
Contacts Registration address Erste Befektetési Zrt, 1138 Budapest, Népfürdő u. 24-26 Regulation MNB Official site https://www.ersteinvestment.hu/hu/index.html Contacts info@ersteinvestment.hu 06 1 235 5100, 06 1 235 5190
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FAQs
How is Erste Broker regulated and what safety measures are mentioned in the review?
Erste Broker is regulated by the Magyar Nemzeti Bank (MNB), the Central Bank of Hungary, which is described as a Tier-1 regulator, and it has a safety score of 8/10 corresponding to a high security level. The section notes participation in an investor protection fund covering up to €100,000 for deposits and €20,000 for investment losses, but also states that negative balance protection is not provided and the foundation date is not specified.
What account types and trading features are available with Erste Broker according to the review?
The review states that Erste Broker offers a demo account and a securities account used for trading on local and foreign stock exchanges, interbank currency, and CFD markets, with Forex and CFDs available via the Erste Trader platform. It also mentions a low minimum deposit, the absence of Cent and ECN/Raw spread accounts, and notes that the virtual balance on the demo account is HUF 10,000,000, while the broker’s overall account types safety score is 4.1/10.
What do user reviews and feedback indicate about overall satisfaction with Erste Broker?
The user satisfaction score for Erste Broker is 6.7/10 based on 3 reviews, with 33% of ratings at 4 stars and 67% at 3 stars, and no 1- or 2-star ratings. According to user reviews, this distribution suggests a generally mixed but moderately positive experience rather than strongly enthusiastic or strongly negative feedback.
What markets and tradable assets are highlighted for Erste Broker in the review?
The review notes that Erste Broker offers a limited overall selection of assets but supports 50 currency pairs, as well as trading in stocks, commodity futures, cryptocurrencies, stock indices, and options. It also mentions investment options such as bonds, ETFs, and copy trading, while stating that PAMM and managed accounts are not available.
What do reviews say about Erste Broker’s customer support options and availability?
Based on available user reviews, customer support at Erste Broker is described as functional but not outstanding, with moderate response times that can vary depending on the complexity of the request. The section explains that support is available Monday to Friday from 8:00 to 22:00 (GMT+1) via telephone, fax, email, and in-person visits to offices in over 20 Hungarian cities, but there are no online communication channels and service is provided with breaks.
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