Best Forex Brokers in Russia
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Choosing a broker in the Russian Federation should not be a difficult task, however, it often seems to be for many traders. That is why we have compiled a list of the best Russian Federation brokers. The list is based on a combination of our own research and our users’ feedback.
The brokers below represent the best forex brokers for trading in Russia.
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 > eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk | FCA UK, ASIC, CySEC , FSA Seychelles, FINRA US, SIPC | $10 | 1:30 (FCA UK), 1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSA Seychelles), 1:50 (FINRA US), 1:50 (SIPC) | eToro Platform | 2007 | 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.
Best Forex Brokers for trading in Russia
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.
The broker offers the ability to trade on more than 10,000+ financial instruments covering Forex, Equities, Metals, Commodities, Indices and Cryptocurrency CFDs. Users have access to a range of accounts including the Standard Account (commission-free) and Raw Account (commission-based) for MetaTrader users, both offering ECN pricing and maximum leverage of 500:1. Users can also access Iress Accounts which are commission-based.
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eToro
Regulated By:FCA UK, ASIC, CySEC , FSA Seychelles, FINRA US, SIPC
Headquarters:Cyprus
Foundation Year:2007
Min Deposit:$10
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk
Demo Account:Open Demo Account
Max Leverage:1:30 (FCA UK), 1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSA Seychelles), 1:50 (FINRA US), 1:50 (SIPC)
Publicly Traded:No
Deposit Options:Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Sofort, Trustly, Przelewy, Debit Card, Rapid Transfer, iDeal, Klarna
Withdrawal Options:Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Debit Card, iDeal, Klarna, Sofort, Webmoney, Przelewy, Moneybookers
Products:Currencies, Commodities, Indices, ETFs, Stocks, Crypto
Trading Platforms:eToro Platform
Trading Desk Type:Market Maker
OS Compatability:Web platform
Mobile Trading Options:Android, iOS
eToro is another awesome platform for beginners. A standout feature here is the ability to view and copy other trader’s strategies. Dropping into a new platform for the first time can be intimidating. Etoro takes away some of that fear factor by showing you what other traders are doing that works.
The platform is intuitive and the site offers some useful education and news resources for new traders as well. But if you are truly a “noob” in foreign exchange, looking at real examples in a live setting can teach you what’s going on much faster than piecing it together on your own.
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How to Choose a Forex Broker as a Russian Trader
Forex trading has been booming in Russia ever since the 1990s, with thousands of traders and numerous brokers contributing to the financial markets in Russia. In 1989 Russian authorities introduced flexibility in exchange rates. Shortly after, in 1991, the first currency exchange was set up by the Central Bank of Russia. It is known as the Moscow Interbank Currency Exchange (MICEX). However, the forex market is regulated by the Central Bank of Russia, not by the MICEX.
As it’s not easy to know what makes a good broker, we have boiled it down to three simple steps for choosing a forex broker as a Russian trader.
- Do your research. Make sure the broker is regulated by a reputable regulatory agency, preferably by the Central Bank of Russia.
- Gather a list of competent brokers and narrow it down through comparison.
- Open a demo account. Most brokers these days offer a free demo account to give traders a chance to use the platform. Try trading in different markets and see how you like it.
General Regulation & Russian Regulation
The forex industry and other financial markets were regulated by the Federal Financial Markets Service (FFMS) which was established in 2004. This regulatory body had authority over the markets up until 2013. Now, the Central Bank of Russia has resumed regulation over the financial markets. They oversee, supervise, and implement various regulatory guidelines and policies to ensure a safe and stable financial market for Russian investors and brokerages.
Trading Platform & Software
The best forex brokers in Russia 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 Russia 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. With that said, we choose forex brokers with low spreads and comparable commissions.
Account Types
The best forex brokers offer a variety of account types to fit your trading needs. For a Russian trader, you want a forex broker that offers a variety of account types. For example, some forex brokers in Russia will offer residents micro, mini, standard and even Islamic forex trading accounts to trade currencies and CFD’s.
Customer Service
Customer service and support is a very important aspect of a trading platform/broker. As a Russian trader, you want quality support in your native language (Russian). Thankfully this is not an issue for most high-end forex brokers. Russia is a big and popular country among forex traders and they should have no problem receiving customer support in Russian.
Additional Services
The best forex brokers in Russia offer their clients in additional services and resources such as educational material, training courses/classes communicative forums, and more.
Conclusion
Our best forex brokers in Russia list is created with the utmost certainty in quality and reputation. We have only gathered regulated brokers who are known to be reputable and competent with the services they provide. All our brokers offer excellent trading platforms, competitive commissions and fees, and a wide range of account types.
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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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