Best Forex Brokers in Greece 2019

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Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

FXCM

Regulated By:AMF, ASIC, BaFin, CONSOB, FCA, FSB

Foundation Year:1999

Headquarters:0 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom

Min Deposit:$50

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Your capital is at risk

Your capital is at risk

FXTM

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

Min Deposit:$10

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90% of retail CFD accounts lose money

90% of retail CFD accounts lose money

Markets.com

Regulated By:CySEC, FSB

Foundation Year:2008

Headquarters:N/A

Min Deposit:$100

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CFDs carry risk. 73% of traders lose

CFDs carry risk. 73% of traders lose

AvaTrade

Regulated By:ASIC, BVI, CBI, FSA(JP)

Foundation Year:2006

Headquarters:Five Lamps Place, 77-80 Amiens Street, Dublin 1, DO1A742, Dublin, Ireland

Min Deposit:$100

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Your capital is at risk

Your capital is at risk

FBS

Regulated By:CySEC, IFSC

Foundation Year:2009

Headquarters:N/A

Min Deposit:$1

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Your capital is at risk

Your capital is at risk

eToro

Regulated By:ASIC, CySEC, FCA

Foundation Year:2007

Headquarters:Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus

Min Deposit:$200

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76% of retail investor accounts lose money

76% of retail investor accounts lose money

Bellow you can find a comparison table of all the best Forex brokers in Greece

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
FXCM
Visit Broker>

Your capital is at risk

AMF, ASIC, BaFin, CONSOB, FCA, FSB

$50

1:30

MT4

1999

No dealing desk

Visit Broker>

Your capital is at risk

FXTM
Visit Broker>

90% of retail CFD accounts lose money

CySEC, FCA, FSC

$10

1:30

MT4

2011

ECN, STP

Visit Broker>

90% of retail CFD accounts lose money

AvaTrade
Visit Broker>

Your capital is at risk

ASIC, BVI, CBI, FSA(JP)

$100

1:30

ActTrader, MT4, MT5, Proprietary, Zulutrade

2006

Dealing Desk, Market Maker

Visit Broker>

Your capital is at risk

FBS
Visit Broker>

Your capital is at risk

CySEC, IFSC

$1

1:3000

MT4, MT5

2009

ECN, No dealing desk, STP

Visit Broker>

Your capital is at risk

eToro
Visit Broker>

76% of retail investor accounts lose money

ASIC, CySEC, FCA

$200

1:30

cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, Zulutrade

2007

Market Maker, No dealing desk, STP

Visit Broker>

76% of retail investor accounts lose money

How to Choose a Greek Forex Broker

When you know what you’re looking for, choosing a forex broker becomes easy. However rather than testing out all the key facets of the broker, the below article explores the main areas you should really focus on. This includes good trading conditions eg. low spreads, reliable platforms, with little to no downtime (should be available on mobile and web too), customer service available whenever the company is open for trading. Finally and perhaps the most important of all is to work with a broker that is regulated. This means that your interests are protected.

General Regulation & Greek Regulation

The Greek market is closely regulated. Its financial regulatory body is called the Hellenic Capital Market Commission (HCMC). Another regulatory body for their financial industry is the Bank of Greece, but the HCMC is where you will find membership of regulated forex brokers. After the passing of Law 1969/91, the HCMC was established. This commission focuses on protecting investors so that the capital market operates efficiently and in order. Some of HCMC responsibilities include monitoring, licensing, control of capital market intermediaries, and supervision.

Trading Platform & Software

Your trading platform is the most important tool you will be using to trade forex. It needs to be simple for you to use and of course reliable. If your platform is seeing a lot of downtime, this equates to missed opportunities and trading errors.

The standard for any platform should be a ‘buy’ and ‘sell’ button that is clearly visible. Some platforms offer trading directly form charts, which is a really useful feature, especially if you are incorporating trading strategies into the charts. There are also some platforms that will include a “panic” button that allows you to cancel every position that maybe currently open.

It is important to have a variety of fundamental analysis and technical tools available at your disposal. Often directly on the platform itself to save you having to leave the platform.

Platforms can be generic like the MT4 and the Sirix trader or can be proprietary, which means built inside the company or especially for the company. Really it comes down to a matter of taste. While the MT4 is undoubtedly the most popular platform, this doesn’t mean it is necessarily the best or most user friendly.

Commissions & Spreads

A broker will generate their income from both commissions and/or spreads. Most market maker brokers, eg. those that take the other side of the trade to you, will charge a spread (the difference calculated from the buy and sell price). In this case you should check out how large that spread is first. A larger spread eats away at your bottom line. You can often find a spread on the EUR/USD for as low as just 1 pip.

Direct Market Access brokers that actually plug you in to the markets rather than taking on the trade themselves, will usually charge you a commission and perhaps a small spread.

Account Types

There are a number of different account types offered by Greek brokers. The most common accounts include:

  • Mini Account – This type of account comes with a low initial deposit so is normally recommended for new traders.
  • Standard Account – This trading account is the most popular and comes with better features than the Mini
  • VIP Account – This trading account is popular for institutions and high-end traders that trade large volumes. It comes with better conditions, like lower spreads and sometimes free VPN to increase the speed of the platform.

Customer Service

Forex trading never stops. This means you will need access to customer service whenever you are trading. As a Greek broker of course you would expect customer support available in the local language. Look for efficient and fast help, live chat is often the best way to get immediate responses. There should ideally be a phone line too.

Additional Services

These vary, often depending on the account type you have opened, but sometimes includes free trading signals, a copytrading platform and a chart pattern software. You would expect updating technical news and an economic calendar too.

Conclusion

No matter how good you are at trading, it is important to choose the right broker, so we’ve simplified the process for you by conducting extensive research and come up with the best Greek brokers. Happy trading!