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Best Forex Brokers in Sweden 2020

FX Empire Editorial Board
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At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make money.

Sweden is a tempting market for many brokers due to its wealth and amount of trading conducted. But with all this competition, how do Swedish traders find a good broker to trade with? FXEmpire has conducted intense research in to the Swedish forex market and come up with the ultimate forex brokers serving the region.

The brokers below represent the best Forex Brokers for trading in Sweden

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
Vantage FX
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Your capital is at risk

ASIC, CIMA

$200

1:500

MT4, MT5, myFXbook, Zulutrade

2009

ECN, STP

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Your capital is at risk

Skilling
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73% of retail CFD accounts lose money.

CySEC

$100

1:30

Proprietary

2019

No dealing desk

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73% of retail CFD accounts lose money.

First Prudential Markets Pty Ltd
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Your capital is at risk

ASIC, CySEC

$100

1:500

IRESS, MT4, MT5, webtrader

2005

No dealing desk

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Your capital is at risk

Plus500
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80.5% of retail CFD accounts lose money

ASIC, CySEC, FCA, FSB, ISA, MAS

$100

1:30

Plus500

2008

No dealing desk

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80.5% of retail CFD accounts lose money

FXTM
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90% of retail CFD accounts lose money

CySEC, FCA, FSC

$10

1:30

MT4, MT5

2011

No dealing desk

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90% of retail CFD accounts lose money

eToro
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62% of retail CFD investors lose money

ASIC, CySEC, FCA, MiFID

$200

1:30

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

2007

Market Maker, No dealing desk, STP

Visit Broker>

62% of retail CFD investors lose money

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 Sweden.

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

Vantage FX

Regulated By:ASIC, CIMA

Foundation Year:2009

Headquarters:29/31 Market St, Sydney

Min Deposit:$200

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Your capital is at risk

Vantage FX was founded in 2009 in Australia and is the brand name of the Vantage International Group which is regulated by the Cayman Islands Monetary Authority (CIMA) and advertises the segregation of client funds which are held with Australia’s AA rated National Australia Bank (NAB).

The broker offers services that are designed for both beginner and professional traders with access to Forex ECN trading, as well as CFD trading on Indices, Commodities and U.S and Hong Kong Shares on the MetaTrader 4 and MetaTrader 5 trading platforms for Mac, PC, iOS and Android as well as social trading platforms such as MyFXbook and Zulutrade.

Pros: Cons:
  • Forex ECN Trading.
  • U.S and Hong Kong Share CFDs.
  • Segregated client funds with the National Australia Bank (NAB).
  • Unique bonus and promotional trading offers.
  • No regulation from Europe or UK regulators.
  • Limited Share CFDs on offer.

Skilling

Regulated By:CySEC

Foundation Year:2019

Headquarters:62 Athalassas Avenue, 2nd Floor, 2012 Strovolos, Nicosia, Cyprus

Min Deposit:$100

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73% of retail CFD accounts lose money.

Skilling Ltd is an online broker that offers Forex and CFD trading from markets around the world. It was launched in 2019 with headquarters in Nicosia, Cyprus. Skilling Ltd, formerly known as Finovel Cyprus Ltd, has other offices located in Malta and Spain. The brand offers forex, cryptos, indices, stocks and commodities for trading on its platform. Skilling boasts of offering over 300 trading instruments from different markets all over the world. The official website is in 4 languages: German, Swedish, Norwegian and English.

In the company’s order execution policy document, Skilling states that it acts as a market maker. In some cases where orders have to be executed at third party venues, Skilling acts as an agent on behalf of the Client.

Pros Cons
  • Modern and fully featured proprietary platform
  • Good selection of instruments and assets available to trade
  • Highly regulated via CySEC
  • No access to MT4 platform to those who want it

FP Markets

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia

Min Deposit:$100

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Your capital is at risk

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.

Plus500

Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Building 25, MATAM, Haifa, Israel

Min Deposit:$100

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80.5% of retail CFD accounts lose money

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, includes negative balance protection, and makes trading an educational and hopefully profitable venture.

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.

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

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

FXTM is an ECN/STP broker that was established in 2011 to offer Forex and CFDs and is highly regulated in the UK by the FCA among other regions. They offer the trading of over 250 assets through the MT4 and MT5 platforms.

MT4 is available through WebTrader, download client or mobile. The ECN Zero and ECN accounts on FXTM are operated with MT4 bridge software. Therefore, the same MT4 features are available to traders with these accounts as well as the regular accounts.

Pros Cons
  • Highly regulated by leading regulators FCA and CySEC
  • Access to both MT4 and MT5
  • An amazing selection of analysis and news
  • A solid educational offering
  • Both ECN and standard accounts available
  • Not the lowest spreads on the standard account

eToro

Regulated By:ASIC, CySEC, FCA, MiFID

Foundation Year:2007

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

Min Deposit:$200

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62% of retail CFD investors lose money

eToro is an online trading platform that was founded in 2007 by the Assia siblings and their friend David Ring in Tel Aviv, Israel. Formerly known as RetailFX, eToro is the pioneering online broker for social trading. Their Openbook social trading platform in fact changed the nature of the way beginner online traders can trade the financial markets. It made the markets accessible to everyone, no matter what their level of experience by creating a user-friendly environment and allowing traders to copy the trades of other traders’ strategies automatically.

Pros: Cons:
  • Highly regulated broker (FCA, CySEC and ASIC)
  • Innovative trading platform
  • Wide range of assets to trade with
  • Ability to earn 2% management fee as an Investor trader
  • Spreads are higher than average
  • Does not have the MetaTrader platform

Introduction to Forex Brokers in Sweden

A 2010 study found that the Swedish Krona accounts for around 2.3% of the total daily transactions in the global financial market. This means that it is one of the most actively traded currencies in the forex market. For Swedish forex traders, this puts them in an advantageous position as the Swedish Krona is the default currency for all their transactions. In short, they not only earn from trading the Swedish Krona but also from the appreciation of the currency itself.

Sweden represents one of the international forex powerhouses. Per capita basis, it is also one of the richest countries not just in Europe but in the world. The wealth of this country also helps to explain why forex trading has always been popular among Swedish citizens. Not surprisingly, this has prompted every international forex broker to capture a slice of the forex market in Sweden. Although the Swedish forex trading scene is one of the most active markets in the forex industry, there are very few homegrown brokers in Sweden. In fact, the bulk of the forex brokers serving the Swedish forex traders are based outside Sweden.

Regulations

The Swedish financial market is regulated by the Swedish Financial Supervisory Authority (Finansinspektionen). Part of the Swedish Ministry of Finance, it has regulatory oversight over the participants in the financial markets. The Swedish Financial Supervisory Authority was established in 1991 as a single regulator for the banking, insurance and securities markets. Its main duties include the following:

  • Issuance of permits to financial services providers
  • Drafting of regulations for the financial markets
  • Supervision of the financial markets
  • Perform risk assessments

As a member state of the EU, the Swedish financial markets come under the framework of the MiFID. This mean Sweden permits any authorized and licensed forex brokers from a EU member state to offer their services to Swedish citizen by letting “passport” their authorization to the Swedish FSA.

Trading Platforms & Software

The trading platforms which most Swedish forex traders will come across will be the MetaTrader 4 (MT4) trading platform. The MT4 platform is considered as the industry standard trading platform as it is adopted by the majority of the forex brokers in the industry. Other widely adopted trading platforms include the cTrader and the Sirix WebTrader. Although some forex brokers prefer to use their own proprietary trading platforms, their numbers pale in comparison to the above mentioned platforms being used in the forex industry.

Commissions & Spreads

The forex industry generally does not charge forex traders commission charges on the trades that they make, unless they are operating on a NDD (Non Dealing Desk) business model. Normally, forex traders are required to pay a slightly widened spread on the quotes that they receive. The spread can either be fixed or variable and they ranges from 0.5 pips to 3 pips for the frequently traded currency pairs.

Account Types & Deposit Methods

Most forex brokers cater to a diverse clientele base and as such they offer their clients a choice of trading accounts.

Micro and Mini Accounts

If you are a beginner trader, the types of trading accounts best suited to your trading needs are the Micro and Mini trading accounts. These accounts let you trade in lots smaller than the standard lot size. In addition, the minimum deposit requirement is lower and more affordable.

Standard Account

For traders with more trading experience, most brokers will provide them with the Standard trading account. This type of account usually has lower spreads than the Micro and Mini trading account.

VIP Account

Finally to cater to VIP traders, forex brokers usually have a premium or VIP account to satisfy their trading needs. VIP trading accounts normally have a high minimum deposit requirement and come with a dedicated account manager and a host of other trading privileges such as free trading signals, VPS service for better execution speeds and less downtime, more education resources and better spreads.

Customer Service

If you are a trader that is based in Sweden, you will want to ensure that the broker is able to provide support in Swedish as well. Check out what are the available methods that you can use to contact customer support as well as the support hours. Ideally, you want to have as many ways that you can to contact customer support when the need arises. Since the forex market is a 24 hours market, ensure that the broker you have selected is able to provide customer support on a 24 hours basis throughout the entire trading week.

Additional Services

To differentiate their services, some brokers also provide their traders with value added services such as free daily market signals and free VPS access. The daily market signals can prove useful if you are unsure of what to trade. Where execution speed is a primary concern, then having access to the broker’s VPS will help to improve your connectivity speed.

Conclusion

In the case of forex traders from Sweden, the majority of the forex brokers that will be able to meet the their needs will be those from Western Europe due to their similarity in culture. Nevertheless, we understand that for beginner traders, it will be difficult to identify the best forex brokers in Sweden which is why we have compiled a list of recommended forex brokers best suited for Swedish forex traders.

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  • Your capital is at risk