Best Forex Brokers in Finland for 2026

Looking for a reputable forex broker can be a burdensome task for Finnish traders. Luckily, our team of experts has compiled a list of the best brokers in Finland that offer investors a fair trading environment, rigorous fund protection, competitive pricing, and smooth trading across different devices. Each broker on our list has been tested using real money, allowing us to confirm whether a brand is a good choice for Finnish traders.

1Plus500 US

Rating: 4.2 ⭐

This content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.

Top Rated

2eToro

Rating: 4.2 ⭐

52% of retail investor accounts lose money

3Fusion Markets

Rating: 4.8 ⭐

74-89% of retail's CFD accounts lose money

4FP Markets

Rating: 4.9 ⭐

73.33% of retail investor accounts lose money

5BlackBull Markets

Rating: 4.8 ⭐

Trading leveraged products is risky

6Eightcap

Rating: 4 ⭐

59.57% of retail investor accounts lose money when trading CFDs with this provider.

7Global Prime

Rating: 4.7 ⭐

74-89% of retail CFD accounts lose money

8Pepperstone

Rating: 4.4 ⭐

73.7% of retail investor accounts lose money

9XM Group

Rating: 2.7 ⭐

72.82% of retail investor accounts lose money

10IG

Rating: 3.9 ⭐

67% of retail client accounts lose money when trading CFDs with this investment provider.

Finnish Forex Brokers Ranked by Trustpilot Score

Finnish Forex Brokers Ranked by Spread Commission

Finnish Forex Brokers Ranked by Commission per Lot

Important Note: To be eligible to operate in Finland and offer forex trading services, brokers must obtain a license from an EU/EEA financial supervisor or the Financial Supervision Authority (FIN-FSA). This is the official regulator in Finland. It ensures brokers are following trading guidelines and providing competitive yet secure market conditions. To learn about the latest regulatory actions taken by FIN-FSA, we suggest checking its official website or following its X account.

Top 11 FX Brokers in Finland

1. 

   1. Fusion Markets

   READ REVIEW

   TRADE NOW 74-89% of retail CFD accounts lose money

   Fusion Markets Broker Details
   Regulators	ASIC, FSA (Seychelles), VFSC (Vanuatu)
   Min Deposit	$0
   Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, DupliTrade, Fusion+ Copy Trading, TradingView
   Trustpilot Rating	4.8 out of 4,873 reviews
   Number of CFD Forex Pairs to Trade	90+
   Leverage	Forex & Metals CFDs: 1:30 (1:500 for forex and metals via the VFSC entity) Index CFDs: 1:5 Cryptocurrency CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC)
   Spread	EURUSD: 0.90 avg (Classic) USDJPY: 1.04 avg. (Classic) EURGBP: 1.03 avg. (Classic) GBPUSD: 1.04 avg. (Classic)
   Forex Commission per Lot per Trade	$0 on Classic accounts; $4.50 per round turn on ZERO accounts
   Deposit Methods	Visa, Mastercard, PayPal, Skrill, Neteller, FasaPay, Jeton Wallet, Perfect Money, OnlineNaira, DOKU, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, Bank Wire, ZotaPay, VNPAY, DuitNow, XPay, Dragonpay, VAPay, AstroPay, PayID, JetonBank, STICPAY, Interac, LuqaPay, MiFinity
   Withdrawal Methods	Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, Dragonpay

   Founded by Australian trading experts, Fusion Markets was launched in 2017 and has become a popular choice for traders around the world. Although many brokers advertise low spreads, Fusion Markets has been recognized by BrokerChooser, receiving the “Lowest Spread Forex Broker” award for four consecutive years.

   In addition to tight spreads, Fusion Markets offers strong value for traders, charging a low commission of only $2.25 per lot per side ($4.50 per round turn). Cost-effectiveness is one of the broker’s main strengths.

   Fusion Markets is regulated by the Australian Securities and Investments Commission (ASIC; AFSL No. 385620), the Financial Services Authority of Seychelles (License No. SD096), and the Vanuatu Financial Services Commission (VFSC). Under ASIC regulation, the broker also offers negative balance protection for eligible clients.

   With no minimum deposit requirement and a wide range of popular trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and TradingView, Fusion Markets remains an attractive option for traders. The broker has an average rating of 4.8 out of 5 on Trustpilot, based on 4,873 reviews.

   Key Pros

   • Offers some of the lowest spreads
   • ASIC clients have negative balance protection
   • Supports popular trading platforms
   • Offers two copy trading platforms
   • Supports fiat and crypto payment methods

   Key Cons

   • Does not offer investor protection
   • Traders outside Australia do not have negative balance protection.
   • Accounts cannot be set up in minor currencies.
   • Does not have an FCA license
2. 

   2. Global Prime

   READ REVIEW

   TRADE NOW 74-89% of retail CFD accounts lose money

   Global Prime Broker Details
   Regulators	ASIC (No. 385620), VFSC (No. 40256)
   Min Deposit	$0
   Trading Platforms	MT4, MT4 WebTrader, MT4 Android, MT4 iOS; for VFSC clients: MT4, MT5 (Desktop, WebTrader, Mobile), and GP Copy
   Trustpilot Rating	4.7 out of 341 reviews
   Number of CFD Forex Pairs to Trade	59
   Leverage	Forex & Metals CFDs: 1:500 (1:30 for ASIC entity) Index CFDs: 1:100 (1:20 for ASIC entity) Cryptocurrency CFDs: Up to 1:2 (ASIC); up to 1:5 (Pro and VFSC)
   Spread	EURUSD: 1.00 avg (Standard) USDJPY: 1.20 avg (Standard) EURGBP: 1.16 avg (Standard) GBPUSD: 1.18 avg (Standard)
   Forex Commission per Lot per Trade	$0 on Standard accounts; $7 round-turn on Raw accounts
   Deposit Methods	Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, FasaPay, VNPay, Pagsmile, BPAY, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto
   Withdrawal Methods	Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies

   Global Prime is a reliable brokerage that has been providing low-cost trading services since 2010. Regulated by the financial authorities in Vanuatu and Australia, the broker provides access to more than 150 financial instruments, including indices, bonds, commodities, cryptocurrencies, and more than 50 currency pairs.

   Major-pair spreads on Raw accounts start at zero pips, with most orders executed within 10 milliseconds on average. The broker’s ASIC-regulated entity supports MT4 only, while clients trading under VFSC regulation also have access to MT5. Global Prime also plans to expand its range of supported platforms with TradingView soon.

   These excellent trading conditions, coupled with a streamlined registration process, fee-free deposits and withdrawals, and round-the-clock support, have earned the broker a solid 4.7 rating on Trustpilot. Still, there is room for improvement, as the company does not offer cent or Islamic accounts. The broker has no compensation scheme for client funds, either, which is another area where Global Prime could improve.

   Key Pros

   • Overseen by a top-tier financial regulator (ASIC)
   • No fees on deposits and withdrawals
   • Low fees for FX trading
   • Streamlined sign-up process
   • A broad range of currency pairs

   Key Cons

   • Could offer more trading platforms
   • Limited range of educational resources
   • Does not offer Islamic or cent accounts
3. 

   3. BlackBull Markets

   READ REVIEW

   TRADE NOW Trading leveraged products is risky

   BlackBull Markets Broker Details
   Regulators	FSA (Seychelles, No. SD045), FMA (No. FSP403326)
   Min Deposit	$0 (Standard) $0 (Prime) $20,000 (Institutional)
   Trading Platforms	MetaTrader 4, MetaTrader 5, TradingView, cTrader, MT WebTrader, BlackBull Shares, BlackBull CopyTrader, BlackBull Trade, BlackBull Invest, ZuluTrade
   Trustpilot Rating	4.8 out of 2,681 reviews
   Number of CFD Forex Pairs to Trade	70+
   Leverage	Forex & Metals CFDs: 1:500 Index CFDs: 1:500 Cryptocurrency CFDs: 1:500
   Spread	EURUSD: 0.8 USDJPY: 0.8 EURGBP: 1.4 GBPUSD: 0.8
   Forex Commission per Lot per Trade	$0 (Standard); $6 per lot (Prime); $4 per lot (Institutional)
   Deposit Methods	Visa, Mastercard, Neteller, Airtm, Skrill, bank transfer, HexoPay, American Express, POLi, Payment Asia, Help2Pay, FXPay, FasaPay, China UnionPay, Boleto, AstroPay, Beeteller, Bitcoin, Ethereum, Tether, Ripple, Litecoin, Bitcoin Cash, Chainlink, USD Coin, Stellar
   Withdrawal Methods	Visa, Mastercard, bank transfer, Airtm, Skrill, Neteller, American Express, POLi, HexoPay, Payment Asia, Help2Pay, FXPay, China UnionPay, Boleto, FasaPay, Beeteller, AstroPay, Bitcoin, Litecoin, Bitcoin Cash, Tether, Ripple, Stellar, Chainlink, Ethereum, USD Coin

   Founded in 2014, BlackBull Markets stands out for its tradable asset diversity, offering a selection of more than 26,000 financial instruments. The broker caters to forex traders with more than 70 major, minor, and exotic currency pairs that can be traded via three types of ECN accounts: Standard, Prime, and Institutional. Commodities, shares, indices, and futures can also be traded with BlackBull Markets.

   The broker is licensed by the FSA (Seychelles) and the FMA, and it offers relatively reasonable trading conditions, although the exact trading costs largely depend on the type of live account you open. Customers looking to trade commission-free can do so via ECN Standard accounts, where spreads generally start from 0.8 pips and there are no minimum deposit requirements. ECN Prime and ECN Institutional accounts are suitable for seasoned and high-volume traders. Both account types charge above-average commissions per lot.

   Customers with live accounts can top up their balances with payment cards, digital wallets, online banking gateways, bank transfers, and cryptocurrencies. Deposits come at no extra cost, but the New Zealand-based broker charges a $5 processing fee on all withdrawals, regardless of the payment method used.

   Key Pros

   • Uses a proprietary copy-trading platform
   • Swap-free trading via ECN Standard and ECN Prime accounts
   • Multi-platform support
   • Provides 24/7 customer support
   • Strong education hub for traders looking to hone their skills

   Key Cons

   • High commissions per lot on Prime and Institutional accounts
   • Charges a $5 withdrawal fee
4. 

   4. Eightcap

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   TRADE NOW 76.09% of retail investor accounts lose money

   Eightcap Broker Details
   Regulators	SCB (No. SIA-F220), ASIC (No. 391441), CySEC (No. 246/14), FCA (No. 921296), FSC (No. GB25204603), FSA (No. SD100), SCA
   Min Deposit	$100
   Trading Platforms	MetaTrader 4, MetaTrader 5, WebTrader, TradingView, Capitalise.ai, FlashTrader
   Trustpilot Rating	4.0 out of 3,429 reviews
   Number of CFD Forex Pairs to Trade	50+
   Leverage	Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrency CFDs: 1:2
   Spread	EURUSD: 1.00 (min) USDJPY: 1.2 EURGBP: 1 GBPUSD: 1.1
   Forex Commission per Lot per Trade	$0 on Standard and TradingView accounts; $7 round-turn on Raw accounts
   Deposit Methods	Visa, PayPal, Mastercard, Wire Transfer, Neteller, Skrill, Tether, Bitcoin, BPAY, Dragonpay, FasaPay, Interac, Pix, UnionPay
   Withdrawal Methods	Mastercard, Visa, PayPal, Skrill, Neteller, Bitcoin, Tether, Wire Transfer, BPAY, FasaPay, Pix, Interac, UnionPay

   Eightcap was established in 2009 in Melbourne, Australia. The brokerage has grown significantly over the years and now serves traders in more than 125 countries worldwide. The Australian company is licensed to conduct online trading by top-tier financial regulators like the FCA, ASIC, and CySEC. It also holds licenses from the SCB in the Bahamas and the FSA of Seychelles. The broker provides favorable trading conditions, but its product range is somewhat narrower than that of some competitors.

   Around 800 financial instruments (600+ in Europe) are available, placing the broker’s selection of tradable products slightly below the industry average. Various asset classes are covered, including equity indices, shares, cryptocurrencies, forex, and commodities. The broker specializes in providing speculative trading via contracts for difference, with maximum retail leverage ratios capped at 1:30 or 1:500, depending on the country of access.

   Traders at Eightcap can go long or short on approximately 56 forex pairs, with minimum spreads starting from 0.0 pips on Raw accounts, where a $7 round-turn commission applies instead. Standard accounts allow commission-free forex trading but have slightly higher spreads (from 1 pip) than their Raw counterparts. Capitalizing on currency price movements is possible via the TradingView, MT5, and MT4 platforms. Minimum deposit requirements align with the industry average ($100), with plenty of secure payment methods at customers’ disposal, including Skrill, Neteller, PayPal, Visa, Mastercard, BPAY, Pix, FasaPay, and Interac.

   Key Pros

   • Commission-free FX trading via Standard accounts
   • Spreads from 0.0 pips on major currency pairs
   • Accepts cryptocurrency deposits
   • Wide variety of deposit and withdrawal methods
   • Insights section with webinars, trade ideas, and weekly forecasts

   Key Cons

   • Below-average range of tradable instruments
   • Crypto withdrawals incur transaction fees
5. 

   5. XM Group

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   TRADE NOW 72.82% of retail investor accounts lose money

   XM Group Broker Details
   Regulators	CySEC (license no. 120/10), FSC Belize (license no. 8557558), FSC of Mauritius (GB23202700), FSA Seychelles (SD190), DFSA (ref. no. F003484), FSCA (49976), SCA (20200000322), CMA (233), EU passporting registrations: BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA (Finland), KNF, AFM, FI
   Min Deposit	$5
   Trading Platforms	MetaTrader 4, MetaTrader 5, MT4 WebTrader, MT5 WebTrader, MT4 MultiTerminal, XM App
   Trustpilot Rating	2.7 out of 2,787 reviews
   Number of CFD Forex Pairs to Trade	50+
   Leverage	Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrency CFDs: 1:2
   Spread	EURUSD: 0.8 (min) USDJPY: 0.8 (min) EURGBP: 1.7 (min) GBPUSD: 0.8 (min)
   Forex Commission per Lot per Trade	$0 for Ultra Low Micro and Ultra Low Standard accounts; $3.50 per side for the XM Zero Account
   Deposit Methods	Visa, Mastercard, Skrill, Bank Transfer, Neteller, Apple Pay, Google Pay, UnionPay, Maestro
   Withdrawal Methods	Visa, Mastercard, China UnionPay, Skrill, Neteller, Bank Transfer

   Since its inception in 2009, XM has attracted over 15 million customers by offering a competitive trading experience for online traders. There are several reasons why so many people trust XM, with tight spreads and cost-effective pricing being just a few. Operated by Trading Point of Financial Instruments Ltd, the broker is regulated by major authorities such as CySEC, ASIC, and the FSA. Under its CySEC license, XM holds outward passporting registrations, allowing it to provide investment services across multiple EU countries. These registrations include BaFIN, CNMV, MNB, CONSOB, and KNF, among others.

   The brand supports the popular third-party platforms MetaTrader 4 and MetaTrader 5, which are available for web, desktop, and mobile devices. The award-winning XM App, available on the App Store and Google Play, offers seamless access to the financial markets for mobile traders. In terms of supported account types, the broker offers Demo, Standard, Micro, Ultra Low, Zero, Shares, and Islamic accounts, with availability varying by entity. More than 1,400 financial instruments are available for trading across several asset classes, including forex, stock CFDs, cryptocurrencies, commodities, and indices, among others.

   For most account types, the minimum amount you are required to deposit into your XM account is $5, with the same minimum also applying to withdrawals. XM’s Invest Account is the sole exception, with a minimum deposit requirement of $10,000. Additionally, the brand supports a variety of banking methods, including bank cards, e-wallets, and bank transfers for deposits and withdrawals.

   Key Pros

   • Traders can choose from two third-party platforms
   • Covers a large number of currency pairs
   • Regulated by major authorities
   • Offers smooth trading on the go
   • Supports different account types with tight spreads and low fees.

   Key Cons

   • The trading platform's design seems outdated
   • Not listed on any stock exchange
   • Charges an inactivity fee
6. 

   6. Plus500

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   TRADE NOW 79% of retail investor accounts lose money

   Plus500 Broker Details
   Regulators	FSA (No.4.1-1/18), FCA (No. FRN 509909), CySEC (No.250/14), FMA (No.47546), SFSA (No. SD039), MAS (No. CMS100648), DFSA (No. F005651), ASIC (No. 417727), BaFin registration, SCB (SIA-F250)
   Min Deposit	$100
   Trading Platforms	Proprietary desktop and mobile platforms
   Trustpilot Rating	4.2 out of 17,312 reviews
   Number of CFD Forex Pairs to Trade	60+
   Leverage	Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrency CFDs: 1:2
   Spread	EURUSD: 0.9 USDJPY: 2.0 EURGBP: 1.5 GBPUSD: 1.5
   Forex Commission per Lot per Trade	$0
   Deposit Methods	Visa/Mastercard debit cards, wire transfers, Apple Pay, and Google Pay
   Withdrawal Methods	Visa/Mastercard debit cards, wire transfers, Apple Pay, and Google Pay

   Plus500 is a well-established trading company with a strong reputation that serves over 25 million customers across 50 countries. This market-leading brokerage is regulated by some of the strictest financial watchdogs in the world, including ASIC, the FCA, and CySEC. Its parent company, Plus500 Ltd, is publicly traded on the Main Market of the London Stock Exchange, which adds to the broker’s reputation.

   The broker specializes in CFD trading across multiple asset classes, offering a choice of over 2,800 financial instruments. Forex, indices, stocks, commodities, cryptocurrencies, options, and ETFs are all tradable as CFDs at Plus500. It offers a streamlined trading experience through a robust platform with a modern, highly intuitive design.

   Plus500 caters to traders with tight spreads and charges no additional commissions on forex trades. Customers can fund their live trading accounts via cards, bank transfers, and several popular e-wallets, with minimum deposits starting at $100. Deposits and withdrawals are free, but administrative fees are charged on dormant accounts after three months of inactivity.

   Key Pros

   • Publicly traded on the London Stock Exchange
   • Commission-free CFD trading with tight spreads
   • Great selection of analytical tools and educational materials
   • Quick and easy account opening
   • Provides real-time quotes

   Key Cons

   • Charges administrative fees on inactive accounts
   • The platform could offer more customization features
7. 

   7. Pepperstone

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   TRADE NOW 73.7% of retail investor accounts lose money

   Pepperstone Broker Details
   Regulators	ASIC (No. 414530), UK FCA (No. 684312), CySEC (No. 388/20), BaFin (No. 151148), DFSA (F004356), CMA (128), SCB Bahamas (SIA-F217), FSA (SD108)
   Min Deposit	$0
   Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, TradingView
   Trustpilot Rating	4.4 out of 3,144 reviews
   Number of CFD Forex Pairs to Trade	90+
   Leverage	Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrency CFDs: 1:2
   Spread	EURUSD: 1.10 (avg.) USDJPY: 1.20 (avg.) EURGBP: 1.30 (avg.) GBPUSD: 1.20 (avg.)
   Forex Commission per Lot per Trade	$0 (Standard Account), $7 round-turn (Razor Account)
   Deposit Methods	Visa, Mastercard, PayPal, Bank Transfer, BPAY, Neteller, Skrill, Apple Pay, Google Pay, UnionPay, POLi, USDT, M-Pesa
   Withdrawal Methods	Visa, Mastercard, PayPal, Bank Transfer, BPAY, Neteller, Skrill

   Pepperstone was launched in 2007 by a group of seasoned traders and has greatly expanded its global presence since then, serving more than 750,000 customers worldwide. The company enjoys a strong reputation and operates with licenses from several top-tier regulators, including the FCA, ASIC, and CySEC. Pepperstone also ranks among the world’s largest brokerages, with a monthly trading volume of over $400 billion.

   Customers of the award-winning company can trade more than 1,200 financial instruments, ranging from indices, cryptocurrencies, and ETFs to commodities and currency pairs. Share CFDs across a range of Australian, US, UK, and German shares are also among the supported instruments. FX traders, in particular, can go long or short on over 90 major, minor, and exotic currency pairs.

   Spreads are highly competitive at Pepperstone, starting at zero pips for majors like EUR/USD traded via Razor accounts. MT4, MT5, TradingView, and cTrader, as well as the broker’s proprietary platform, are viable options for Pepperstone customers. Combined, these factors have earned Pepperstone an above-average rating of 4.4 stars on Trustpilot from more than 3,000 reviewers.

   Customer support agents are available around the clock on weekdays and for 18 hours on weekends. New traders will find the broker’s demo account and educational resources, such as webinars, videos, and guides, useful for improving their trading skills. In addition, expert market analysis and insights help traders make informed decisions.

   Key Pros

   • Winner of multiple industry awards
   • Commission-free FX trades via Standard accounts
   • Over 1,200 instruments across all major asset classes
   • Competitive spreads on FX trades via Razor accounts
   • Seamless withdrawals within 1 to 3 business days

   Key Cons

   • A somewhat limited range of deposit and withdrawal options
   • High swap rates on overnight positions
8. 

   8. IG

   READ REVIEW

   TRADE NOW 67% of retail client accounts lose money

   IG Broker Details
   Regulators	ASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda)
   Min Deposit	$0
   Trading Platforms	MetaTrader 4, L2 Dealer, ProRealTime, IG proprietary software, TradingView
   Trustpilot Rating	3.9 out of 8,324 reviews
   Number of CFD Forex Pairs to Trade	90+
   Leverage	Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrency CFDs: 1:2
   Spread	EURUSD: 0.86 avg. spread USDJPY: 0.97 avg. spread EURGBP: 1.83 avg. spread GBPUSD: 1.84 avg. spread
   Forex Commission per Lot per Trade	$0
   Deposit Methods	Visa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal, Apple Pay, BPAY
   Withdrawal Methods	Visa, Visa Electron, Mastercard, Discover, Bank Transfer

   IG is a trusted online broker regulated in multiple jurisdictions, including Australia, Singapore, the UAE, the UK, and the US. It provides low-cost trading in thousands of financial markets, ranging from forex and commodities to cryptocurrencies, shares, bonds, and indices. Seasoned traders can also access options contracts, spread betting, and interest rate markets.

   The brokerage charges no commissions on forex trades and derives most of its revenue from spreads. IG offers a broad range of CFDs for customers who want to capitalize on price movements without purchasing underlying assets. Forex traders have access to complex speculative instruments such as turbo warrants, vanilla options, contracts for difference, and barrier options.

   IG’s proprietary software provides a smooth trading experience, and clients can also connect third-party platforms like MT4 and ProRealTime to their IG accounts. Both platforms are suitable for algorithmic trading.

   Funding options include debit/credit cards, bank transfers, and PayPal. The availability of some methods depends on your country of residence, and some withdrawal methods may incur fees. Bank transfers have no minimum deposit threshold.

   Key Pros

   • Extensive selection of over 17,000 tradable markets
   • Listed on the FTSE 250 index
   • Competitive pricing and low forex spreads
   • No fees on most deposits or withdrawals
   • Demo accounts for risk-free forex trading practice

   Key Cons

   • Limited payment options
   • Customer support can be slow to respond during busy hours
9. 

   9. FP Markets

   READ REVIEW

   TRADE NOW 73.33% of retail investor accounts lose money

   FP Markets Broker Details
   Regulators	ASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines), SCB (Bahamas), FSC (Mauritius)
   Min Deposit	$50 (AU$100)
   Trading Platforms	MetaTrader 4, MetaTrader 5, WebTrader, IRESS, cTrader, TradingView
   Trustpilot Rating	4.9 out of 9,422 reviews
   Number of CFD Forex Pairs to Trade	70+
   Leverage	Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrency CFDs: Up to 1:2 (retail clients); up to 1:5 (professional clients)
   Spread	EURUSD: 1.17 USDJPY: 1.64 EURGBP: 1.40 GBPUSD: 1.43
   Forex Commission per Lot per Trade	Standard account: $0; Raw account: $6 round-turn per lot
   Deposit Methods	Visa, Mastercard, Neteller, Bank Transfer, Skrill, SticPay, FasaPay, Virtual Pay, Perfect Money, PagSmile, Dragonpay, Crypto, Apple Pay, Google Pay, Online Banking, Broker-to-Broker, PayPal, XPay, Rapyd
   Withdrawal Methods	Visa, Mastercard, Bank Wire, Neteller, Skrill, PayTrust88, PayPal

   FP Markets entered the online trading market in 2005, making it a well-established broker with favorable trading conditions for its clients. Traders across multiple markets can trade a wide range of currency pairs as well as numerous CFDs. Some of FP Markets’ biggest advantages include competitive spreads, popular trading platforms, and a strong selection of tools suitable for beginners.

   To deliver a smooth experience for different types of traders, FP Markets supports popular platforms, including MetaTrader 4, MetaTrader 5, IRESS, TradingView, cTrader, and WebTrader. Dedicated mobile apps also give Android and iOS users easy access to trading on the go.

   Tight spreads are among the features that attract many traders to FP Markets. Reviewers on Trustpilot give the brand an average score of 4.9 out of 5. The maximum leverage available to retail FP Markets clients is 1:30 for certain products, including popular currency pairs. To help protect traders, the broker follows the rules and guidelines set by major regulators in jurisdictions such as Australia (License No. 286354) and Cyprus (License No. 371/18).

   Key Pros

   • Offers a good selection of educational tools for traders
   • Competitive spreads
   • Easy mobile trading
   • Regulated by reputable authorities
   • Offers a wide range of currency pairs

   Key Cons

   • Some supported trading platforms feel outdated.
   • Could expand its product selection
   • No investor compensation protection for clients under ASIC regulation
10. 

    10. Iron FX

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    TRADE NOW 67.62% of retail investor accounts lose money

    Iron FX Broker Details
    Regulators	FCA (license no. 585561), FSCA (license no. 45276), CySEC (license no. 125/10)
    Min Deposit	$100
    Trading Platforms	MetaTrader 4, WebTrader, VPS, PMAM, TradeCopier, Mobile App
    Trustpilot Rating	3.5 out of 863 reviews
    Number of CFD Forex Pairs to Trade	80+
    Leverage	Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrency CFDs: 1:2
    Spread	EURUSD: 1.2 USDJPY: 0.9 EURGBP: 1.0 GBPUSD: 1.3
    Forex Commission per Lot per Trade	$0 Standard Account; $18 Live Zero Fixed Spread; $10 STP/ECN Zero Spread; $6 STP/ECN Zero Spread Professional
    Deposit Methods	Visa, Mastercard, Bank Wire, Skrill, Neteller, China Union Pay, Fasapay, Perfect Money, Bitwallet, Paysafecard
    Withdrawal Methods	Bank Wire

    Founded in 2010, Iron FX is a broker with extensive experience in the trading field, offering traders a vast selection of products. Providing CFDs on forex pairs, commodities, indices, shares, and futures, this online brokerage is a great place for a vast variety of traders. With seven different types of accounts, members of Iron FX can pick the option that suits their preferences the best, with each of the account types offering either low spreads or low commission rates that offer the best value for your trading.

    Iron FX is regulated by the Cyprus Securities and Exchange Commission (CySEC), which authorizes the broker’s operations in the EU and EEA regions. Meanwhile, IronFx’s UK and South African entities are regulated by the Financial Conduct Authority (FCA) and the Financial Sector Conduct Authority (FSCA), respectively. We would also like to highlight the company’s dedication to traders’ safety, with Iron FX utilizing enterprise-class security tools to keep you and your money safe.

    Members of the broker will have access to trading platforms like MetaTrader 4, WebTrader, VPS, PMAM, and TradeCopier, as well as the mobile app of Iron FX, which enables seamless trading on the go. To fund your account, you must deposit $100, which is the minimum required to go live with your trades on the standard account type.

    Key Pros

    • Offers a wide selection of trading instruments
    • Supports MT4
    • Enables easy trading on the go via a dedicated app
    • Supports various deposit methods
    • Traders can choose from 7 different account types

    Key Cons

    • The Bahamas entity operates with no license
    • Platforms like MT5, TradingView, and cTrader are not supported
    • Withdrawals are possible only via bank wire
11. 

    11. ActivTrades

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    TRADE NOW 72% of retail investor accounts lose money

    ActivTrades Broker Details
    Regulators	FCA (UK), CMVM (Portugal), CVM (Brazil), SCB (Bahamas), FSC (Mauritius)
    Min Deposit	$0
    Trading Platforms	ActivTrader, TradingView, MT4, MT5
    Trustpilot Rating	3.9 out of 1,251 reviews
    Number of CFD Forex Pairs to Trade	56
    Leverage	Forex & Metals CFDs: 1:30 (1:400 under the Bahamas entity) Index CFDs: 1:20 (1:200 under the Bahamas entity) Cryptocurrency CFDs: 1:2 (1:20 under the Bahamas entity)
    Spread	EURUSD: 0.50 USDJPY: 0.50 EURGBP: 0.80 GBPUSD: 0.80
    Forex Commission per Lot per Trade	$0
    Deposit Methods	Visa, Mastercard, PayPal, Apple Pay, Google Pay, Skrill, Neteller, Bank Transfer, Cryptocurrencies
    Withdrawal Methods	Visa, Mastercard, PayPal, Skrill, Neteller, Bank Transfer, Cryptocurrencies

    ActivTrades is a well-established broker with more than 23 years of experience and operates under the regulatory oversight of the FCA, FSC, SCB, CVM, and CMVM. The broker maintains strong security standards and price transparency, offering tight spreads on more than 1,100 trading symbols across six asset groups. Besides forex, retail customers can trade CFDs on shares, indices, commodities, ETFs, and bonds.

    Traders can open sterling-denominated accounts that support commission-free trading across all available markets. The broker provides maximum retail leverage of 1:30, while clients eligible for professional accounts can access leverage of up to 1:400. ActivTrades supports customer financial protection by providing negative balance protection and enhanced client funds insurance of up to $1 million.

    ActivTrades was the first UK-licensed broker to introduce excess FSCS insurance in 2013, offering compensation above the regular limit of $50,000 per retail client. Traders can fund their live accounts with cards, bank transfers, and popular e-wallets such as PayPal. There is no minimum deposit requirement. A 1.5% fee applies to deposits with UK-issued credit and debit cards.

    Key Pros

    • Has held an FCA license since 2009
    • Safeguards all traders with negative balance protection
    • Stores client funds at top-tier banks such as Barclays and Lloyd’s
    • Supports free PayPal deposits and withdrawals

    Key Cons

    • Additional fees apply to card deposits
    • Charges administrative fees after 50 weeks of inactivity

Is Forex Trading Legal in Finland?

Forex trading is legal in Finland, and it is fully regulated by the local regulator. As already mentioned, the Finnish Financial Supervisory Authority (FIN-FSA) is responsible for overseeing the activity of forex brokers operating on the territory of the country, prioritizing transparency, investor protection, and market stability.

We recommend that traders opt for brands that have obtained FIN-FSA’s authorization. This ensures that brokers are compliant with local trading regulations and guarantee safe and fair trading for their customers.

Finnish brokers are also obligated to follow trading regulations imposed by the European Securities and Markets Authority (ESMA) since Finland is a member of the EU. That means MiFID 2 directives apply to local brokers, and FX brands must ensure fair trading conditions for their clients.

Finnish traders can also join forex brokers licensed by other regulatory bodies across the EU. In line with said regulations, Finnish brokers must impose leverage limits (a maximum of 1:30 for retail traders) and restrictions on bonuses and promotional offers. Meanwhile, residents of EU countries as well as territories within the EEA can join brokers licensed in Finland.

We recommend that Finnish traders always pick forex brokers that have been licensed by tier-1 regulators like the FCA and CySEC. Meanwhile, brands that have been authorized to operate by the local regulator are also safe options, ensuring fair trading conditions.

FIN-FSA Regulation Info

As mentioned above, brokers looking to operate in Finland must obtain a license from the FIN-FSA or another recognized EU/EEA regulatory body. Since its inception in 2009, the FIN-FSA has been responsible for managing the financial market within the European country. Among the various responsibilities of this agency, there is also the licensing of trading brokers who wish to cater to Finnish traders.

In order to obtain FIN-FSA’s permission, brokers are required to meet a certain list of conditions, proving they are eligible to operate as financial service providers in Finland. What is more, those who have already obtained a license from the local regulator are obligated to regularly present financial statements and other documents that demonstrate they are following FIN-FSA requirements. They must provide customers with unambiguous and accurate information about their fees, trading conditions, instruments, and the associated risks.

Since the Finnish regulatory body is also responsible for taking action against brokers that operate illegally or have breached regulatory rules, the FIN-FSA will regularly publish public notices to inform traders about any brand offering illicit trading services.

Furthermore, brokers are obligated to keep client funds segregated from their operational expenses to protect clients in case of insolvency. Last but not least, brokers are required to implement Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures to verify customers’ identities, with suspicious transactions being reported to the FIN-FSA.

How Can I Verify FIN-FSA Authorization?

Checking if the broker you have chosen to join has been authorized by the FIN-FSA is a simple process. If a forex brand is regulated by the Finnish authorities, it should clearly state information about its operator and the license it has obtained from the FIN-FSA.

To confirm the legal status of the broker and the validity of its license, you can head to the official website of FIN-FSA and visit the registry page. There, you can search for the operator of the broker and confirm whether it has been registered with the official regulator in Finland. Additionally, you may regularly check FIN-FSA’s publications as they will notify readers about any brand that has been penalized due to participation in unregulated activities.

Are My Funds Safe with Forex Brokers in Finland?

If you want to make sure that your money will be in safe hands while you are trading forex pairs, you should always opt for properly regulated brokers. In the case of Finnish traders, that is true for brands that have been licensed either by the FIN-FSA or any other reputable regulator within the EU and EEA.

Since Finnish brokers are directed to follow a wide range of regulatory guidelines, they are required to ensure extra protection for their clients. That is why traders’ funds are kept in segregated bank accounts, ensuring their money cannot be lost due to a given broker’s financial predicaments.

To be eligible to operate in Finland, brokers are required to be fully transparent and warn traders about the risks related to trading, which is a highly volatile activity. Meanwhile, brands must always be fair and offer easy access to markets, ensuring free trading to all EU and EEA residents.

Following ESMA regulations, Finnish forex brokers are also required to implement several security measures like leverage limits and negative balance protection. These instruments balance the risk levels, allowing any retail trader a safe trading experience.

Do Finnish Brokers Provide Negative Balance Protection?

If you have selected a FIN-FSA-regulated trading brand or a broker licensed by a tier-1 regulator, you should be offered negative balance protection when you open a retail trading account. ESMA requires all brokers operating in the EU and EEA markets to ensure this additional protection to traders, as trading with high leverage does expose investors to higher risk, potentially accumulating losses that exceed the amount available in their accounts.

Since regulated Finnish brokers do offer negative balance protection, retail traders can rest assured that when they are making use of higher leverage, their potential losses cannot exceed the amount they have deposited into their trading accounts. That means they cannot become indebted to the broker and trade volumes that are higher than what they can afford.

Do Finnish Traders Pay Tax on Forex Trading Income?

As previously mentioned, forex trading is legal in Finland, with the FIN-FSA supervising any trading activity within the country. Profits ensuing from trading are classified as capital income, and thus, they are subject to capital income tax.

As for Finnish traders, they are responsible for constantly checking for any regulatory changes as well as any law amendments that concern their trading activities. Taxes also fall under that category, with Finnish traders being required to pay surcharges related to their forex income.

Forex traders in Finland are required to pay tax on their trading income, but if their profit does not surpass €500, they are exempted from this type of surcharge.

Otherwise, the tax rate imposed on forex trading gains in Finland is progressive:

• 30% on capital income up to €30,000
• 34% on capital income exceeding €30,000

While this is the tax related to forex incomes at the moment of writing this article, we recommend traders contact local financial professionals to make sure they are aware of any updates and possible amendments related to taxes they must pay on their capital gains.

How Does the Available Leverage of FIN-FSA-Regulated Brokers Compare to the Leverage at Brokers Regulated Offshore?

If a forex trader is looking forward to taking advantage of higher leverage while they are trading currency pairs, they should know that, depending on the market where the broker is operating, there might be certain limits on maximum allowed leverage. For traders from Finland, there is a cap of 1:30 leverage on major currency pairs. Meanwhile, trading on exotic and non-major pairs will have an even lower maximum leverage of 1:20.

The above limits are compliant with the mandatory leverage maximums imposed by ESMA, with every broker operating in the EU and EEA required to implement said limitations. If we compare the allowed leverage in Finnish forex brokers to the caps imposed by trading websites operating offshore, we might see that some have identical or very similar maximums.

Brokers authorized to operate in Australia or the UK will be asked to impose the same limits of maximum leverage of 1:30 on major currency pairs and 1:20 on non-major forex pairs. Meanwhile, brokers operating legally in the US may introduce a maximum leverage of 1:50 on major pairs. That said, they allow brokers to impose even lower maximum leverage if they wish to further reduce risk levels on forex trading.

There are also markets like the Seychelles, regulated by the FSA, which allow forex traders to trade currency pairs with a leverage that can go as high as 1:5000. Needless to say, such brokers are not required to offer negative balance protection, as the extremely high risk coming with this type of leverage can easily accumulate massive losses.

What Do You Need to Qualify to be Designated as a Professional Trader in Finland?

While a maximum leverage cap can be a great security tool for retail forex traders, those who enjoy operating with higher volumes may not appreciate such restrictions. Luckily for them, they might be able to apply for professional trading accounts, allowing them to place orders with significantly higher leverage on both major and exotic pairs. Professional trading accounts often come with lower or no commission fees, allowing traders to enjoy better value for their trading.

To qualify for a professional trading account on a broker website operating in the EU or EEA, you will need to meet several conditions stipulated by ESMA. These include having extensive experience in the financial market sector, having a significant amount traded over a certain period of time, and boasting a substantial portfolio.

Most reputable Finnish regulators will allow you to either open a professional trading account or upgrade your existing retail account if you meet at least two of the following conditions:

• Complete at least 10 transactions of a significant amount per quarter in the last 12 months
• Have a financial instruments portfolio of least €500,000
• Prove they have experience of at least one year working in the financial market sector

Each forex broker will guide you through the steps you need to take and the documents you are required to provide in order to complete the professional trading verification process.

What Trading Platforms Are Available to Finnish Traders?

Naturally, the majority of the forex brokers operating in Finland are providing their financial services under licenses issued by regulators within the EU and EEA. That is why traders are met with the choice of trading via several of the most popular trading platforms one can use for forex trading. Meanwhile, quite a few brands also offer their proprietary platforms, offering smooth trading on forex, CFDs, and other products.

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MetaTrader 4: As far as forex trading goes, MT4 is probably one of the most popular options for trading platforms that most traders prefer. With an interface that enables seamless trading for both beginners and expert traders, MT4 offers access to a decent selection of markets, with several instruments allowing traders to make trading decisions easier. Often optimized for both desktop and mobile use, MT4 is a great platform solution for any forex trader.

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MetaTrader 5: While MT4 is great for forex trading, those who wish to explore more options may prefer MT5, which adds more markets and slightly more advanced tools to the trading experience. Usually, advanced traders prefer using MT5 as it gives them better insight into various markets, allowing them to assess risk levels and make trading decisions easier.

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WebTrader: If you are already used to MT4, you will have no issue utilizing WebTrader for your forex trading orders. Boasting a simpler interface and a few trading tools, WebTrader allows you instant access to trading through its browser-based platform. Since there is no need to install any software on your device, you can start trading right away, using your preferred browser to launch WebTrader.

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cTrader: This is definitely a more advanced platform version, often enabling a more modern trading experience, with many expert traders appreciating the cTrader option. Featuring various instruments like technical analysis, charts, and drawing tools, cTrader allows traders to track different markets and always get a more accurate estimation of risk levels while they trade with Finnish brokers.

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Below you can find some useful references with links to organisations that monitor the forex market in Finland.

1. FIN-FSA (Financial Supervision Authority): Homepage of Finland’s financial regulator.
2. FIN-FSA Warning Lists: The FSA offers information on how Finnish traders can learn to recognize potential fraudulent activities. This is also where traders can find warning lists that inform traders about suspicious or unauthorized entities.
3. FIN-FSA Registers: Detailed information on which financial entities are supervised by FIN-FSA.
4. FIN-FSA Problems With a Service Provider: Here, FIN-FSA offers insight into what Finnish traders can do if they run into issues with financial service providers.