Best Forex Brokers in Norway

By: FX Empire Editorial Board
Updated: Sep 10, 2023
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In this article, we have conducted diligent research into the best forex brokers in Norway. We have analysed all aspects of what makes a broker trustworthy and reputable within the industry including the regulations involved, the importance of the software and platform, account types, costs involved, customer service, and the additional services the best forex brokers provide.

The brokers below represent the best forex brokers for trading in Norway.

Visit Broker >
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.
ASIC, CySEC , FSCA South Africa
$100
1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSCA South Africa)
MT4, MT5, cTrader, IRESS
2005
DMA, ECN, No dealing desk, STP
Visit Broker >
71% of retail investor accounts lose money when trading CFDs with this provider
ASIC, CySEC , FSCA South Africa, FSA Japan, FSC Mauritius, BVI FSC, CBI Ireland
$100
1:30 (ASIC), 1:30 (CySEC ), 1:400 (FSCA South Africa), 1:25 (FSA Japan), 1:400 (FSC Mauritius), 1:400 (BVI FSC), 1:30 (CBI Ireland)
MT4, MT5, Proprietary, AvaSocial, AvaTradeGo, AvaOptions, WebTrader
2006
Market Maker
Visit Broker >
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.
CySEC
$100
1:30 (CySEC )
Plus500
2009
No dealing desk
Visit Broker >
82% of retail CFD accounts lose money
FCA UK, CySEC , FSCA South Africa, FSC Mauritius
$10
1:30 (FCA UK), 1:30 (CySEC ), 1:500 (FSCA South Africa), 1:1000 (FSC Mauritius)
MT4, MT5, ,
2011
No dealing desk, ECN, Market Maker

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.

Here’s a list of The Best Forex Brokers for trading in Norway:

Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

FP Markets

Regulated By:ASIC, CySEC , FSCA South Africa
Headquarters:Australia
Foundation Year:2005
Min Deposit:$100
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.
Official Site:www.fpmarkets.com
Demo Account:Open Demo Account
Max Leverage:1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSCA South Africa)
Publicly Traded:No
Deposit Options:Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Mastercard, Giropay, Visa, Sofort
Withdrawal Options:Wire Transfer, PayPal, Skrill, Neteller, Sofort, Mastercard, QIWI, Giropay, Visa
Products:Currencies, Commodities, Indices, ETFs, Crypto
Trading Platforms:MT4, MT5, cTrader, IRESS
Trading Desk Type:DMA, ECN, No dealing desk, STP
OS Compatability:Desktop platform (Windows), Desktop platform (Mac), Web platform
Mobile Trading Options:Android, iOS

FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.

FP Markets also offers a range of education and market analysis resources through the Traders Hub which includes technical analysis and fundamental analysis articles and videos, as well as, trading ebooks and video tutorials. Users can access live support via telephone, email and live chat 24 hours a day, 5 days a week.

Pros: Cons:
  • ASIC regulated.
  • ECN pricing and DMA trading available.
  • 10,000+ tradable financial instruments.
  • Wide range of trading platforms and trading tools available.
  • Excellent customer support and education tools.
  • The volume of choice of markets and accounts may be overwhelming for beginner traders.

AVATrade

Regulated By:ASIC, CySEC , FSCA South Africa, FSA Japan, FSC Mauritius, BVI FSC, CBI Ireland
Headquarters:Ireland
Foundation Year:2006
Min Deposit:$100
71% of retail investor accounts lose money when trading CFDs with this provider
Official Site:www.avatrade.com
Demo Account:Open Demo Account
Max Leverage:1:30 (ASIC), 1:30 (CySEC ), 1:400 (FSCA South Africa), 1:25 (FSA Japan), 1:400 (FSC Mauritius), 1:400 (BVI FSC), 1:30 (CBI Ireland)
Publicly Traded:No
Deposit Options:Wire Transfer, Credit Card, PayPal, Skrill, Neteller, QIWI, Boleto
Withdrawal Options:Wire Transfer, Credit Card, PayPal, Skrill, Neteller, QIWI, Boleto
Products:Currencies, Commodities, Indices, ETFs, Stocks, Bonds, Futures, Options, Crypto
Trading Platforms:MT4, MT5, Proprietary, AvaSocial, AvaTradeGo, AvaOptions, WebTrader
Trading Desk Type:Market Maker
OS Compatability:Desktop platform (Windows), Desktop platform (Mac), Web platform
Mobile Trading Options:Android, iOS

AvaTrade is a broker that provides a great range of trading accounts and platforms to trade on more than 1,250 instruments covering Forex, stocks, indices, commodities, cryptos and FX options. Regulated by eight financial regulators around the world, the services are mainly geared towards beginners but there are some useful tools for advanced traders as well.

From our live testing, opening an account with AvaTrade was fast and very simple. There are different investor protections depending on which jurisdiction you open an account with but everything is laid out transparently on the broker’s website which is always good to see.

While there are a lot of platforms geared towards advanced traders such as MetaTrader 4, MetaTrader 5 and AvaOptions, beginner traders will be able to navigate the AvaTradeGo mobile trading app with ease.

Pros Cons
  • Good range of account types (CFD, Spread Betting, Options, Islamic & Social)
  • 1,250+ instruments to trade on – Forex, stocks, indices, commodities and cryptos
  • Great range of trading platforms
  • Investor compensation scheme only available in some regions

Plus500

Regulated By:CySEC
Headquarters:Israel
Foundation Year:2009
Min Deposit:$100
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.
Official Site: www.plus500.com
Demo Account:Open Demo Account
Max Leverage:1:30 (CySEC )
Publicly Traded:Yes
Deposit Options:Wire Transfer, Credit Card, PayPal, Skrill, Moneybookers
Withdrawal Options:Wire Transfer, Credit Card, PayPal, Skrill, Moneybookers
Products:Currencies, Commodities, Indices, ETFs, Stocks, Options, Crypto
Trading Platforms:Plus500
Trading Desk Type:No dealing desk
OS Compatability:Desktop platform (Windows), Desktop platform (Mac), Web platform
Mobile Trading Options:Android, iOS

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades.

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 1:30. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK and Plus500CY Ltd is authorized & regulated by CySEC (#250/14).

Pros: Cons:
  • Support for 2000+ products to trade across global markets,including Forex, commodities, shares, indices
    and cryptocurrency CFDs
  • No commission and low spread costs
  • Advanced trades and fast execution
  • Licensed in several regulatory hubs, and publicly listed
  • Only CFDs, no direct Forex trades
  • High rates on margin/leverage accounts
  • Less research data than some competitors
  • No phone support offered

FXTM

Regulated By:FCA UK, CySEC , FSCA South Africa, FSC Mauritius
Headquarters:Cyprus
Foundation Year:2011
Min Deposit:$10
82% of retail CFD accounts lose money
Official Site:www.forextime.com/eu
Demo Account:Open Demo Account
Max Leverage:1:30 (FCA UK), 1:30 (CySEC ), 1:500 (FSCA South Africa), 1:1000 (FSC Mauritius)
Publicly Traded:No
Deposit Options:Wire Transfer, Credit Card, Skrill, Neteller, Mastercard, , , Local Deposit, Maestro, Visa
Withdrawal Options:Wire Transfer, Credit Card, Skrill, Neteller, Mastercard, , , PerfectMoney, Maestro, Visa
Products:Currencies, Commodities, Indices, Stocks
Trading Platforms:MT4, MT5, ,
Trading Desk Type:No dealing desk, ECN, Market Maker
OS Compatability:Desktop platform (Windows), Desktop platform (Mac), Web platform
Mobile Trading Options:Android, iOS

FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available. 

 Pros:  Cons:
  • Support for 250+ products to trade across global markets, including Forex, commodities, shares, indices and cryptocurrency CFDs
  • Competitive spreads
  • MetaTrader 4 and MetaTrader 5 platform support
  • Low maximum order size
  • No native Mac desktop app

How to Choose a Norwegian Forex Broker

Choosing a forex broker can be a daunting task. There are several things to consider and look into before settling on a broker- especially if you are a Norwegian trader. There are the same basic principles for choosing a broker wherever you are from, but how do you know which one is right for you and the country you reside?

  • First and foremost, in the case of Norwegian traders, you need to consider whether the broker is trustworthy and regulated within your region.
  • The types of trading accounts aloud specifically for Norwegian traders (Micro, Mini, Standard, Islamic Trading Accounts, etc.)
  • Availability of customer service in the native language. As a Norwegian trader, you want to be able to communicate in your native language and be comfortable with the support they offer.

Now there are many more things to consider while choosing a forex broker, but the points mentioned above are important regarding Norwegian traders.

General Regulation & Norwegian Regulation

The Norwegian Forex market is regulated by the Markets in Financial Instruments Directive (known as MiFID), as is all of the European economic area. In addition to this regulatory body, it is also regulated by the Financial Supervisory Authority of Norway.

Some regulations which are specific to Norwegian forex brokers include:

  • Foreign currency that is held by residents of Norway traders must be converted into krone within 30 days. Non-residents can get around this rule, which is very attractive to foreign investors.
  • Regarding capital repatriation, traders must notify the central bank (Norges Bank) for tax purposes.
  • The central bank has also revised regulations regarding payments in order to simplify and bring the system of Norway together and provide additional protection in the event of any errors.

Trading Platform & Software

The best forex brokers in Norway provide the most advanced and up to date trading platforms and software. Designed with the trader in mind, the best trading platforms offer an easy to use and visually pleasing interface, has a variety of analysis tools, and fast speeds for execution. A good trading platform will offer their traders up to date quotes and charts in an organized and easy to use format. The interface should be fast, informative, and easy enough to use. Many forex brokers in Norway offer a free trial of their platforms before a full commitment.

Commissions & Spreads

Spreads and commissions are both very important aspects of a forex broker. They go hand in hand and play a big part in whether the forex broker is worth your while. In fact, the spread is one of the most important things to consider when choosing a forex broker. All in all, you want a forex broker with a low spread, either fixed or floating as long as it’s low. That way you can keep your cost of each transaction lower. However, some brokers will charge a higher commission while offering lower spreads. These are two important things to understand when choosing a forex broker.

Account Types

The best forex brokers offer a variety of account types to fit your trading needs. For a Norwegian trader, you want a forex broker that offers benefits specifically to being Norwegian. For example, some forex brokers in Norway will offer residents micro, mini, standard and even Islamic forex trading accounts to trade currencies and CFD’s.

Customer Service

Without the support of customer service in the native language of Norwegians, trading can become very difficult and frustrating if you run into problems. All the best forex brokers operating out of Norway offer support in many languages, ensuring quality care is taken for their customers.

Additional Services

The best forex brokers offer more than just an excellent trading platform, outstanding customer service, top of the line security, and competitive spreads, commissions and fees. The best forex brokers also provide an abundance of resources dedicated to educating their customers. These services can include webinars, learning resources, informative case studies and reports. Additional resources like these can make all the difference when trading forex.

Conclusion

When choosing our list of the best Norwegian forex brokers, we look at all aspects that make up an outstanding broker. We dedicate hours of research into the rules and regulations they abide by, analyse the software and interface of their platforms. Look into all the costs involved, and study the available account types, inquire into the quality of customer service, and whether the broker offers additional services. We ensure they meet all the guidelines we set out for them and create our list accordingly.

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About the Author

FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.

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

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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.