Best Forex Brokers in Greece of 2023

By: Vladimir Zernov
Updated: Oct 10, 2023
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CFD trading is rapidly gaining popularity in Greece. Forex trading is both legal and regulated in Greece, overseen by the HCMC (Hellenic Capital Market Commission), and falls under the supervision of the ESMA (European Securities and Markets Authority).

Brokers catering to Greek traders must adhere to MiFID II (Second Markets in Financial Instruments Directive) standards. This requires them to obtain authorization from regulatory bodies and fulfill obligations designed to enhance investor protection and fight money laundering. Thanks to MiFID II, all EU-regulated brokers can serve residents of any EU country. This means that traders in Greece can choose any EU-regulated broker entity.

Choosing the right broker is a crucial step to your financial success. Traders should carefully assess several key factors, including regulation, fees, available instruments, and trading platforms, among others. With over a decade of hands-on experience in reviewing forex brokers, FX Empire stands as an established industry leader. Using our unique evaluation methodology, which includes an analysis of over 250 factors across nine crucial categories, we guide you toward forex brokers that best align with your trading goals.

Considering the different needs of traders, we have broken this list down into five primary categories.

List Of Top Forex Brokers and Trading Platforms In Greece

  • Ardu Prime — Best Overall
    Greece-based, HCMC-regulated broker. MetaTrader 5, Trading Central. Diverse account types. Ardu Crypto. Strong research support.
  • FP Markets — Best Low Spreads
    Competitive spreads. MT4, MT5, cTrader, in-house mobile app. VPS hosting. 800+ tradable instruments. Has a ‘best execution policy’.
  • Plus500 — Best For Beginners
    User-friendly proprietary platform. Wide range of tradable instruments. Strong educational support for beginner traders. +Insights Analytics Tool.
  • XM — Best For Professional Traders
    Competitive spreads. MT4, MT5, XM App. CFDs on Greek shares. Solid research support. Diverse account types.
  • eToro — Best Trading Platform
    An innovative proprietary trading platform. Social trading features. 3000+ financial instruments. Trading Central for eligible clients.

How Did FX Empire Select the Best Brokers in Greece?

To choose the best brokers in Greece, we used the FX Empire’s 250-point rating system to identify the leaders in each category. We focused on the following key features:

  • We selected trustworthy and transparent brokers with a top overall score based on our 250-data-point rating system.
  • We gave preference to brokers regulated by top-tier EU authorities and compliant with HCMC, ESMA, and MiFID II standards.
  • We selected brokers that allow EUR as the base currency.
  • We favored brokers that offer CFDs on European shares.
  • We focused on brokers with generally low trading fees.
  • We listed brokers that have user-friendly and feature-rich platforms.
  • We prioritized brokers that offer localization, including website and customer support in Greek, along with local payment options.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Leveraging my 16 years of forex trading experience, I’ve further examined and analyzed all our findings. The outcome is a curated selection of the finest brokers for traders based in Greece across diverse categories. You can read more about it and how we conduct our tests here.

Now, let’s explore the selected brokers.

Best Overall

Your capital is at risk.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 1999, Ardu Prime offers trading in forex pairs, commodities, stocks, indices, and cryptocurrencies. The broker is regulated by the Hellenic Capital Market Commission (HCMC) in Greece.

Regional Features:

  • Greece-based traders can open accounts with Ardu Prime SA, which is regulated by HCMC
  • Office in Greece: Leoforos Agias Varvaras 56, Palaio Faliro, 175 63
  • Greek version of the website
  • Customer support in Greek
  • Trading platforms: MT5
  • Average EUR/USD spread: 5.4
  • Max Leverage: 1:30

Ardu Prime, based in Greece, holds particular appeal for Greek traders due to its customer support available in the Greek language. The broker offers a decent selection of tradable instruments, including 30 cryptocurrencies.

Ardu Prime clients have access to the popular MetaTrader 5 platform. The broker offers three account types, including an Institutional account, which offers special terms for traders making deposits exceeding $100,000. When it comes to research, Ardu Prime delivers both in-house materials and access to the reputable Trading Central. I find this blend to be a well-rounded research suite.

As for fees, our evaluations revealed that Ardu Prime offers competitive pricing in specific segments like blue-chip stocks, indices, and cryptocurrencies, although its spreads for FX majors and commodities leave room for improvement. For instance, during our live fee test, the EUR/USD spread on the Standard Account stood at 5.4, while the Dow Jones spread fluctuated between 1.5 and 2.5.

  • A Greece-based, HCMC-regulated broker.
  • Wide range of tradable instruments.
  • Diverse account types.
  • Strong research support.
  • Some spreads are quite high compared to the industry average.

Best Low Spreads

This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
  • Min Deposit
  • Tradable Instruments
  • Fees

Established in 2005, FP Markets is headquartered in Australia with additional offices globally. Operating on a No-Dealing-Desk (NDD) model, the broker provides access to over 800 trading instruments, including forex pairs, commodities, equities, indices, ETFs, and cryptocurrencies. Regulated by authorities like CySEC and ASIC, FP Markets commits to a 'best execution policy,' ensuring optimal order execution at the most favorable prices.

Regional Features:

  • Greece-based traders can open accounts with First Prudential Markets Ltd, which is regulated by the Cyprus Securities and Exchange Commission (CySEC).
  • Trading Platforms: MT4, MT5
  • Average EUR/USD spread: 1.1
  • Max Leverage: 1:30

My research indicated that FP Markets offers a diverse array of tradable instruments, including stocks from EU exchanges. Additionally, the broker provides VPS hosting — a key benefit for algorithmic traders. Qualified advanced traders can unlock leverage ratios as high as 1:500 through the Pro Account.

Our tests showed that FP Markets features mid-to-low spreads compared to the broader industry. For example, during live testing, I observed EUR/USD spreads ranging from 1.0 to 1.2 and GBP/JPY spreads fluctuating between 1.5 and 1.9. Importantly, the broker charges no fees for deposits, withdrawals, or inactivity.

FP Markets incorporates well-regarded platforms like MetaTrader 4 and 5, as well as cTrader. MT4 users can take advantage of the 'Traders Toolbox,' a suite of 12 specialized tools. These include the Correlation Trader for comparing symbol correlations, Sentiment Trader for assessing market sentiment, and Excel RTD for real-time data integration into Excel spreadsheets. From my own trading experience, correlation tools are highly useful for identifying new trading opportunities.

  • Competitive spreads.
  • No inactivity, withdrawal, and deposit fees.
  • A well-rounded tradable instruments offering.
  • VPS hosting.
  • Research content is limited.

Best For Beginners

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2008, Plus 500 offers trading in forex pairs, commodities, stocks, indices, cryptocurrencies, and ETFs. The broker is regulated by multiple top regulators, including CySEC, FCA, and ASIC. Plus500 is a FTSE 250 company that is listed on the London Stock Exchange.

Regional Features:

  • Greece-based clients can open accounts with Plus500CY Ltd, which is regulated by the Cyprus Securities and Exchange Commission (CySEC).
  • Greek version of the website.
  • Trading Platforms: Plus500 WebTrader
  • Average EUR/USD spread: 0.8
  • Max Leverage: 1:30

Plus 500 has developed a proprietary WebTrader platform, which strikes a balance between user-friendliness and robust charting tools. From my perspective, the sleek design offers an easy-to-navigate layout, which is important for beginner traders.

The broker provides access to 2,800+ tradable assets, including a wide range of stocks and ETFs. Plus500 clients have access to +Insights Analytics Tool, offering insights into buying and selling trends among Plus500's substantial client base, which exceeds 400,000 individuals across 50 countries. Sentiment analysis plays an extremely important role in contemporary trading, making this tool invaluable. Beginner traders will also benefit from a comprehensive educational suite that encompasses videos, webinars, and an ebook.

Talking about fees, our analysis indicated that EUR/USD spreads stood at 0.8, and GBP/JPY spreads were at 3 at the time of live testing. Plus500 doesn't levy fees for deposits, withdrawals, or account closures. However, be aware that an inactivity fee of $10 per month applies to accounts dormant for three months or more.

  • Regulated in multiple jurisdictions around the world.
  • User-friendly proprietary trading platform.
  • Extensive selection of tradable assets.
  • Innovative tools like +Insights.
  • No desktop platform.

Best For Professional Traders


Your capital is at risk.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2009, XM offers trading in forex pairs, commodities, indices, and stocks. The broker is regulated by CySEC, AISC, FSC Belize and DFSA Dubai.

Regional Features:

  • Greece-based clients can open accounts with Trading Point of Financial Instruments Ltd, which is regulated by CySEC
  • CFDs on Greek shares
  • Greek version of the website
  • Trading platforms: MetaTrader 4, MetaTrader 5, XM App
  • Average EUR/USD spread: 1.7
  • Max Leverage: 1:30

XM provides access to the well-known MetaTrader 4 and 5 platforms, along with a dedicated XM App for both iOS and Android devices. The broker offers both spread-based and commission-based accounts featuring tight spreads — an essential factor for seasoned traders.

XM boasts a portfolio of over 1,200 share CFDs, including those based on Greek equities. For research support, XM provides analysis, trading ideas, a podcast, and XM TV, which hosts expert commentary from the company's own analysts.

On the subject of fees, my analysis indicated that XM delivers competitive spreads via its Standard Account. Specifically, EUR/USD spreads fluctuated between 1.6 and 1.8, while DAX spreads ranged from 1 to 2.

  • Strong research support.
  • Competitive spreads.
  • CFDs on Greek shares.
  • Insightful webinars.
  • No cryptos in the CySEC-regulated entity.

Best Trading Platform

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2007, eToro offers trading in forex pairs, commodities, stocks, indices, ETFs, and cryptocurrencies. The broker is regulated by multiple top-tier regulators, including CySEC, ASIC, FCA, and FINRA.

Regional Features:

  • Greece-based clients can open accounts with eToro (Europe) Ltd., which is regulated by CySEC
  • Trading platforms: eToro
  • Average EUR/USD spread: 1.0.
  • Max Leverage: 1:30

eToro has developed one of the most user-friendly proprietary web trading platforms and mobile apps in the industry. The design is sleek and intuitive – an essential feature for both beginner and advanced traders. eToro's educational resources are comprehensive, featuring courses, guides, videos, webinars, and podcasts.

The broker's eToro Academy is truly impressive, equipped with essential insights for those new to the trading scene. Additionally, eToro offers a high-quality copy trading service worth considering.

Regarding fees, our analysis revealed that eToro's cost structure is generally in line with industry norms. For example, EUR/USD spreads fluctuated between 0.9 and 0.1, while those for WTI oil stood at 0.05.

  • User-friendly platform.
  • Strong research support.
  • A leader in copy trading.
  • Good selection of cryptocurrencies.
  • Account balance of at least $5000 is required for chat and phone support.

How to Choose A Forex Broker In Greece?

Use our guide to define the best forex broker in Greece according to your trading goals.

How to choose a safe forex broker in Greece?

The process of choosing a broker begins with learning where your potential broker is regulated. In our research, we divide regulators into three tiers: Tier-1, Tier-2, and Tier-3.

  • Tier-1 regulators have strict oversight and impose certain limits on services offered to retail clients (for example, the leverage for retail clients is usually limited at 1:30). Such regulators usually provide access to investor compensation schemes. They also demand that brokers provide negative balance protection and keep clients’ funds in segregated accounts. Tier-1 regulators include CySEC, ASIC, and UK FCA.
  • Tier-2 regulators also offer strict oversight but usually do not limit leverage for retail clients. In addition, investor compensation schemes are typically not available at Tier-2 regulators. HCMC in Greece is a good example of such a regulator.
  • Tier-3 regulators are offshore regulators that do not impose limits on leverage for retail clients and do not provide access to compensation schemes. FSA Seychelles and FSC Mauritius are among Tier-3 regulators.
  • Unregulated brokers operate without oversight from any formal financial regulatory authority. Unlike regulated brokers, which have to comply with rules and guidelines set by financial bodies to ensure transparency and protection for traders, unregulated brokers are not bound by such requirements. Trading with an unregulated broker carries a high level of risk, including the potential for financial loss, fraud, or scams.

Traders should prioritize essential safeguards such as negative balance protection, segregated funds, and compensation funds, all of which offer reassurance in case of financial issues. It’s important to note that offshore regulators generally don’t enforce stringent leverage limits, offering traders access to high levels of leverage but with fewer protections. You should be aware that compensation schemes may not always be in place. Consequently, if a broker encounters financial difficulties, traders will likely have to navigate the situation on their own.

Most of the brokers from our list are regulated by the Cyprus Securities and Exchange Commission (CySEC). We rate CySEC as a Tier-1 regulator as it provides the maximum level of oversight and protection, including negative balance protection, segregated funds, and a compensation scheme. Ardu Prime is regulated by Greece’s HCMC, which we define as a Tier-2 regulator.

Read more about the best regulated forex brokers in our detailed guide.

What fees should you focus on when choosing the broker?

Typically, brokers charge spreads, commissions, swap/rollover fees, and inactivity fees.

  • Spread. It is the difference between the bid and the ask price. The higher the spread, the more you pay for the trade. In our rating system, we deem spreads below 1 pip for EUR/USD and 3 pips for GBP/JPY to be low. See our guides on the best zero spread and best lowest spread forex brokers.
  • Commission. It is a fixed cost of entering the trade. Accounts that charge commissions usually offer lower spreads. For example, commissions below $3 for forex pairs and gold are considered low.
  • Swap/rollover fee. It is charged when you hold a leveraged position overnight. Traders should pay extra attention to these fees if they plan to use swing trading strategies, which involve holding positions for several days or even weeks. A swap rate below 0.5 pips for forex pairs is considered favorable. Find the list of the lowest swap brokers in our detailed guide.
  • Inactivity fee. A broker imposes an inactivity fee when an account remains dormant for a specified period. In this case, a certain amount of money is charged on a monthly basis. An inactivity fee below $10 is considered to be low.

How to choose the right account for trading?

You should understand the differences between various types of accounts.

  • Demo accounts are used for practice without risking real money. Such accounts are highly recommended for novice traders making their first steps in trading. Read more about best forex demo accounts.
  • Spread-based accounts typically charge spreads and swap/rollover fees. These accounts usually represent a good choice for traders whose trading volume is expected to be relatively modest.
  • Commission-based accounts charge commissions in addition to spreads and swap/rollover fees. Typically, such accounts offer tighter spreads. They are suitable for traders who anticipate a high volume of trading.
  • On Islamic accounts, swap/rollover fees are not charged to ensure compliance with Sharia law. See our guide on the best Islamic forex accounts.
  • Professional accounts usually have a high minimum deposit and offer access to the high leverage that most professional traders are looking for.

How to choose a trading platform?

In today’s trading landscape, it’s common to find brokers offering platforms such as MetaTrader 4 and MetaTrader 5. While these platforms come equipped with a range of tools, they’re typically more appropriate for traders with some experience. Beginners may find these platforms challenging initially and might need time to familiarize themselves with the complexities.

Alternatively, some brokers offer their own proprietary trading platforms, designed with a broader range of traders in mind. These in-house platforms usually stand out for their ease of use and intuitive navigation, making them a more welcoming option for those new to trading.

The choice of a trading platform should align with your trading style, experience, and personal preferences. In my view, if you’re just starting out, you’ll likely be better served by a broker’s proprietary, user-friendly platform or mobile app. On the other hand, seasoned traders often lean towards the advanced functionalities offered by platforms like MT4 or MT5.

Find out more about each platform in our dedicated guides on best MT4 brokers and best MT5 brokers.

What leverage is available for traders?

Leverage provides traders with the opportunity to boost their profits through the use of borrowed funds. The higher the leverage, the greater your potential profits may be. However, leverage acts as a double-edged sword, as it can also magnify your potential losses. Therefore, I’d recommend beginner traders start with low levels of leverage to avoid the risk of substantial losses.

For those comfortable with these dynamics, FX Empire offers a list of the best forex brokers with high leverage, carefully selected to suit specialized trading needs.

The maximum potential leverage a broker can offer is determined by the regulator. Greece-based traders have access to the CySEC-regulated entities of brokers. CySEC, which is the leading European regulator for CFD brokers, limits leverage at 1:30 for retail clients.

What to avoid when choosing a broker?

Based on my trading experience, I have outlined the five things to avoid when choosing a broker:

  • Failing to verify regulatory compliance.
  • Overlooking broker fees, such as spreads, commissions, and swap rates.
  • Selecting an account type that does not match your requirements.
  • Neglecting to review the range of instruments provided by the broker.
  • Avoiding direct communication with the support team before opening an account.

How to avoid forex and CFD scams?

To safeguard yourself against forex scams, follow these essential guidelines:

  • Research and choose a reputable broker. Conduct thorough research to identify a broker with a solid reputation and a history of regulatory compliance. Verify its credentials and look for reviews or testimonials from reliable sources.
  • Check the regulatory status. Ensure that the broker you selected is regulated by a recognized financial authority. This oversight provides a decent level of protection and ensures adherence to industry standards.
  • Be cautious of unrealistic promises. Beware of brokers or investment schemes that promise guaranteed high returns or low-risk opportunities. Forex trading involves inherent risks, and legitimate brokers will not make unrealistic claims.
  • Avoid unregulated entities. Steer clear of unregulated brokers or those operating from offshore jurisdictions with weak regulations. Regulatory oversight helps protect your funds and ensures fair trading practices.
  • Understand the terms and conditions. Read and comprehend the broker’s terms and conditions, including fee structures, withdrawal policies, and any potential hidden costs. Beware of brokers that make it difficult to access or withdraw your funds.
  • Use secure payment methods. Choose reputable payment methods that offer additional security layers, such as bank transfers or established electronic payment systems. Avoid dealing with brokers that solely accept cryptocurrency or other non-traceable forms of payment.
  • Stay informed and educated. Continuously educate yourself about forex trading and stay updated on market trends and news. This knowledge will empower you to make informed decisions and identify potential scams.
  • Trust your instincts. If something seems too good to be true or raises suspicions, trust your gut instinct and exercise caution. Take the time to seek advice from trusted financial professionals or consult with experienced traders before making any decisions.

And if you are still uncertain, you can always check out our database of reviews to find the most reliable brokers.

Our Methodology

FX Empire, with a history dating back to 2011, has established itself as a reputable authority in broker reviews. Our extensive experience in evaluating CFD brokers, spanning over a decade, has led us to develop a meticulous and comprehensive review strategy. Adhering to stringent guidelines for editorial integrity, we consistently uphold our commitment to deliver unbiased evaluations.

We follow a diligent protocol for our review process, integrating objective criteria and quantifiable data. This methodical approach allows us to generate a justified score that accurately reflects the performance of a broker. Our mission is to provide traders with thorough and unbiased reviews, empowering you to make well-informed decisions aligned with your specific needs.

To choose the best brokers for you, we rate them across nine categories and calculate a score that reflects their performance. The categories include:

  • Trust and Stability
  • Fees
  • Platform and Tools
  • Tradable Instruments
  • Account Types
  • Deposit and Withdrawal
  • Research
  • Customer Support
  • Education

We open accounts, test platforms, measure spreads, and chat with support teams to collect as much data as possible for each broker. Overall, we evaluate brokers based on more than 250 distinct data points. Every category receives a rating from one star (weak) to five stars (excellent). The broker’s total score depends on its performance in each of these nine categories.

We highlight each broker’s strengths and weaknesses, explain regulatory details, and share the results of our live tests of brokers’ fees, customer support, and trading platforms. To learn more about our review process, click here.

For this guide, I focused on the brokers that accept clients from Greece and are either regulated by Greece’s HCMC or top-tier European authorities. In addition, we leaned toward brokers that cater to local preferences, featuring a Greek-language website, customer support proficient in Greek, and payment methods commonly used in the region.

Meet our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan Blystoneauthor

Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan Solankiauthor

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Plamen Stoyanovauthor

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir Zernovauthor

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

Yes, forex trading is legal in Greece.
To verify if a forex broker is regulated in Greece, you can check the official website of the Hellenic Capital Market Commission, which maintains a list of authorized financial entities. You can search for the broker's name on this list to confirm their regulatory status. Additionally, reputable brokers often display their HCMC license number on their website, usually in the footer or under a dedicated 'Regulations' section, which you can cross-reference with the HCMC’s records.
The Hellenic Capital Market Commission (HCMC) regulates forex trading in Greece.
ESMA (European Securities and Markets Authority) is a European Union body that oversees financial markets, aiming to enhance investor protection and market stability. MiFID II (Markets in Financial Instruments Directive II) is an EU regulation aimed at increasing transparency and fairness within financial markets. For forex traders in Greece, this means they benefit from an added layer of protection and standardization, as Greece-regulated brokers must comply with ESMA and MiFID II guidelines, which cover aspects like risk management, transparent pricing, and investor protection.
Ardu Prime, FP Markets, Plus500, XM, and eToro are the top forex brokers in Greece.
Plus500 is suggested for beginners in Greece. The broker offers a user-friendly trading platform and comprehensive educational materials for beginner traders.
XM is suggested for professional traders in Greece. The broker offers competitive spreads, strong research materials, and CFDs on Greek shares.
eToro offers the best trading platform. The broker developed a highly user-friendly and innovative proprietary platform that is good for beginner and advanced traders alike.
FP Markets offers low spreads for Greek traders. In addition, the broker has no deposit, withdrawal, or inactivity fees.
Yes, forex trading profits are subject to taxation in Greece. The tax treatment may differ depending on whether you're considered a retail or professional trader, but generally, income from forex trading falls under capital gains tax. It's crucial to consult a tax advisor familiar with Greek tax law to ensure you meet all reporting and payment obligations accurately.
Yes, cryptocurrency trading is available in Greece.
Negative balance protection is a feature offered by some brokers that protects traders from incurring a negative account balance. In forex trading, it is possible to lose more money than you have in your account due to leverage, which magnifies both gains and losses. With negative balance protection, the broker guarantees that the trader's account balance will never go below zero, even in the event of a sudden and significant market move that results in a large loss.
To verify whether your broker has negative balance protection, you can review the terms and conditions of your account agreement, which should outline the broker's policy on negative balance protection. This information is usually available on the broker's website or can be obtained by contacting their customer support team.
A compensation scheme is a type of investor protection program that provides financial compensation to investors who have suffered losses as a result of a broker's insolvency, fraud, or other misconduct. Compensation schemes are designed to protect investors from financial harm and to promote confidence in the financial markets. In most countries, compensation schemes are established and regulated by the government or financial regulatory agencies. These schemes typically have specific eligibility requirements, such as a maximum level of compensation per investor or per claim, and may only cover certain types of financial instruments or transactions.
You can check their regulatory status and the terms and conditions of your account agreement. You can also check the website of the compensation scheme in your country or region to see if your broker is listed as a member.
A segregated fund refers to the practice where brokers hold their clients' funds separate from their own operational funds. This is done to protect clients' funds in the event of the broker's bankruptcy or other financial difficulties.
To verify if a broker offers segregated funds, you can check their website, contact them directly, review their regulatory filings, look for independent reviews, or consult with a financial advisor.

About the Author

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.