Searching for the top forex broker in Greece? Based on our hands-on analysis, we’ve identified the 5 best options tailored to various trading needs. Practical tips from our experts are included.
*82% of retail CFD accounts lose money.
Forex and CFD trading in Greece has been gaining traction, reflecting a global trend towards these sophisticated financial instruments. Governed by the Hellenic Capital Market Commission (HCMC) and aligned with the broader regulatory framework of the European Securities and Markets Authority (ESMA), the trading environment in Greece is both secure and compliant with international standards.
Brokers operating within Greece are mandated to adhere to the stringent requirements of MiFID II (Second Markets in Financial Instruments Directive), which includes obtaining proper authorization from regulatory bodies, enhancing investor protection, and implementing measures against money laundering. This regulatory harmony under MiFID II also means that Greek traders have the flexibility to choose from a range of EU-regulated brokers, opening up a diverse array of trading opportunities.
As Greece continues to navigate its unique economic landscape, forex and CFD trading emerge as significant avenues for traders looking to capitalize on market dynamics both within and beyond national borders.
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:
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.
Founded in 2006, AvaTrade offers a wide array of financial instruments, including stocks, ETFs, forex pairs, options, indices, commodities, cryptocurrencies, and bonds. The broker has multiple regulations, including CySEC, ASIC, and FSA Japan.
Regional Features:
AvaTrade offers a diverse array of trading platforms, including the widely-used MetaTrader, the intuitive AvaTrade Web platform, and the mobile-friendly AvaTrade GO app. The broker grants access to over 1,250 financial instruments, notably including bonds and forex options — assets not typically found in many brokers’ portfolios.
In terms of research tools, AvaTrade features the esteemed Trading Central. Traders can also leverage AI-powered trading signals to formulate trading strategies. A standout offering from AvaTrade is the AvaProtect risk management tool. This unique feature, available exclusively on AvaTrade’s platforms, allows traders of all experience levels to shield their trades from losses for a fee, enhancing their risk management tactics.
Our examination showed that AvaTrade’s fees for forex and commodities are notably competitive, surpassing industry norms. For instance, the EUR/USD spreads average around 0.9, and WTI oil spreads are at 0.03. However, our live testing indicated higher spreads for indices and stocks, with the Dow Jones index fluctuating between 5 and 6, and Tesla stock spreads averaging at 1.98.
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:
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.
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:
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.
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:
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.
Use our guide to define the best forex broker in Greece according to your trading goals.
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.
Explore Best CySEC-regulated forex brokers and Best FCA-regulated forex brokers.
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.
Typically, brokers charge spreads, commissions, swap/rollover fees, and inactivity fees.
You should understand the differences between various types of accounts.
Read more about Best ECN forex brokers and Best STP forex brokers.
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.
Check out our guide on Best forex trading platforms.
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.
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.
Based on my trading experience, I have outlined the five things to avoid when choosing a broker:
To safeguard yourself against forex scams, follow these essential guidelines:
And if you are still uncertain, you can always check out our database of reviews to find the most reliable brokers.
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:
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.
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.
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 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.
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.
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.
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.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.