Best Forex Brokers in Sweden 2021
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
| Broker | Rating | Official Site | Regulations | Min Deposit | Max Leverage | Trading Platforms | Foundation Year | Publicly Traded | Trading Desk Type | Currencies | Commodities | Indices | Stocks | Crypto | Commission on trades | Fixed spreads | offers promotions | Official Site |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Visit Broker> Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. | CIMA | $200 | 1:500 | MT4, MT5, WebTrader | 2009 | ECN, STP | Visit Broker> Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. | |||||||||||
Visit Broker> 71% of retail investor accounts lose money when trading CFDs with this provider | ASIC, BVI, CBI, CySEC, FSA(JP), FSC, FSCA | $100 | 1:30 | AvaOptions, AvaSocial, AvaTradeGo, MT4, MT5, Proprietary, WebTrader | 2006 | Market Maker | Visit Broker> 71% of retail investor accounts lose money when trading CFDs with this provider | |||||||||||
Visit Broker> Your capital is at risk | ASIC, CySEC | $100 | 1:500 | IRESS, MT4, MT5, WebTrader | 2005 | No dealing desk | Visit Broker> Your capital is at risk | |||||||||||
Visit Broker> CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CySEC, FCA | $20 | 1:30 | Proprietary | 2016 | Market Maker | Visit Broker> CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |||||||||||
Visit Broker> 72% of retail CFD accounts lose money | ASIC, CySEC, FCA, FSB, ISA, MAS | $100 | 1:30 | Plus500 | 2008 | No dealing desk | Visit Broker> 72% of retail CFD accounts lose money | |||||||||||
Visit Broker> 75% of retail CFD investors lose money | ASIC, CySEC, FCA, MiFID | $200 | 1:30 | eToro Platform | 2007 | Market Maker, No dealing desk, STP | Visit Broker> 75% of retail CFD investors lose money |
Vantage FX
Regulated By:CIMA
Foundation Year:2009
Headquarters:Level 4, 42 N Church St, George Town, Cayman Islands
Min Deposit:$200
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
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.
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AvaTrade
Regulated By:ASIC, BVI, CBI, CySEC, FSA(JP), FSC, FSCA
Foundation Year:2006
Headquarters:Five Lamps Place, 77-80 Amiens Street, Dublin 1, DO1A742, Dublin, Ireland
Min Deposit:$100
71% of retail investor accounts lose money when trading CFDs with this provider
AvaTrade was founded in 2006 and is authorised and regulated across all six continents it operates including by the CBI, BVI FSC, ASIC, FSCA, FSA and ADGM. It is one of the oldest online forex and CFD brokers with a well-established reputation for customer support, competitive fees and spreads – all in addition to offering a large range of financial instruments, even including ETFs and FX options for those who like to diversify across assets.
Users can choose to open several different account types – Retail, Professional, Spread betting and Options. The differences are discussed in the account opening section below. Retail, professional accounts offer access to over 1,250+ financial instruments across the AvaTrade propriety web-based platform, MetaTrader 4 and MetaTrader 5. Additional platforms include DupliTrade, AvaTradeGo, AvaOptions and AvaSocial, all of which are discussed further down this review.
AvaTrade also offers an array of research and market commentary from basic to expert trading videos, Online Trading Strategies, News, Market Analysis, Economic Calendars, as well as access to Trading Central which offers users market insights and intelligence through WebTrader and AvaTradeGO.
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FP Markets
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Regulated By:ASIC, CySEC
Foundation Year:2005
Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia
Min Deposit:$100
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.
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Capital.com
Regulated By:CySEC, FCA
Foundation Year:2016
Headquarters:4th Floor 64-66 Vincent Square, London, United Kingdom, SW1P 2NU
Min Deposit:$20
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Capital.com was founded in 2016 and is authorised and regulated by the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Users can trade on more than 2,000+ financial CFD instruments covering Indices, Forex, Commodities, Cryptocurrencies and Shares while accessing AI technology to analyse your trading behaviour.
The broker offers access to three types of commission-free trading accounts called Standard, Plus and Premier and also offers a Pro Trading account for those categorised as Professional, as well as the use of a demo trading account. Users can trade from Capital.com’s own, feature-rich web trading platform and mobile trading app with the ability to use 70+ technical indicators, access personalised watchlists and use advanced hedging and risk management tools.
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Plus500
Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS
Foundation Year:2008
Headquarters:Building 25, MATAM, Haifa, Israel
Min Deposit:$100
72% 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.
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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
75% 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.
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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.