5 Best Forex Brokers in Iceland
We’ve listed the 5 Best Forex Brokers in Iceland offering secure access to global forex markets. Regulated by top international authorities, these brokers provide Icelandic traders with competitive spreads, fast execution, and easy-to-use platforms. While local oversight is provided by the FME, many trusted EU-regulated brokers also serve Iceland, offering ISK or EUR accounts, strong investor protection, and access to forex, commodities, indices, and crypto.
5 Best Forex Brokers in Iceland (2026)
- Blackbull Markets – Overall, the Best Forex Broker in Iceland.
- AvaTrade – Heavily regulated across multiple jurisdictions, providing high trust.
- Eightcap – Straightforward account setup and strong customer service.
- Saxo Bank – Offers access to over 70,000 instruments.
- Vantage Markets – Provides social and copy trading options.
Top 10 Forex Brokers (Globally)
1. BlackBull Markets
BlackBull Markets operates under the 🇳🇿 Financial Markets Authority (FMA) and the 🇸🇨 Financial Services Authority (FSA). The broker accepts clients from Iceland through its global entity, giving Icelandic traders full access to its platforms and services. However, it is not locally regulated in Iceland.
| Feature | Short Description |
| Availability in Iceland | Yes, via global entity |
| Regulation | 🇳🇿 FMA 🇸🇨 FSA |
| Icelandic Licence | None |
| Key Attraction | 0.0-pip spreads 1:500 leverage |
| Caution Point | Offshore regulation only |
 | Minimum Deposit: $0 Regulated by: FMA Crypto: Yes |
Frequently Asked Questions
Can Icelandic residents open an account with BlackBull Markets?
Yes. BlackBull Markets accepts clients from Iceland under its international entity, allowing traders to access all account types, platforms, and trading tools offered globally.
Is BlackBull Markets regulated in Iceland?
No. BlackBull Markets does not hold an Icelandic licence. It operates under oversight from the 🇳🇿 FMA and 🇸🇨 FSA, which provide international regulatory coverage but not local Icelandic approval.
| Minimum Deposit: $0 Regulated by: FMA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| No minimum deposit required | Not regulated in Iceland |
| Spreads start from 0.0 pips | Offshore oversight (Seychelles) may concern some traders |
| Leverage up to 1:500 | No 🇬🇧 FCA or 🇪🇺 EU-based regulation |
| Client funds kept in segregated accounts | Limited local support in Iceland |
| Accepts Icelandic traders under global regulation | Higher-tier accounts require larger deposits |
Our Insights
BlackBull Markets accepts Icelandic traders and provides global market access with strong trading conditions. However, because it lacks Icelandic or EU-based regulation, traders should proceed with awareness and rely on its existing international regulatory framework for protection.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
2. AvaTrade
AvaTrade holds full licenses under the 🇮🇪 Central Bank of Ireland, 🇦🇺 Australian Securities and Investments Commission, 🇯🇵 Financial Services Agency (Japan), and several other global regulators, making it a highly regulated broker globally. Icelandic traders can open accounts under its EU entity.
| Feature | Description |
| Regulation | 🇮🇪 CBI 🇦🇺 ASIC 🇯🇵 FSA |
| Availability in Iceland | Yes, accepts Icelandic clients |
| Local Iceland Licence | None |
| Key Attraction | Wide instrument range, global oversight |
| Caution Point | No local Iceland regulator licence |
 | Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes |
Frequently Asked Questions
Can traders in Iceland register an account with AvaTrade?
Yes. AvaTrade accepts clients from Iceland under its international entity, allowing full access to trading platforms, account types, and instruments.
Is AvaTrade regulated specifically in Iceland?
No. AvaTrade does not hold a licence issued by an Icelandic regulator such as the 🇮🇸 Financial Supervisory Authority. Its regulatory compliance is through foreign bodies, including the Irish, Australian, and Japanese authorities.
| Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Extensive global regulation across continents | No specific Icelandic regulatory licence |
| Accepts traders from Iceland | Some account conditions vary by jurisdiction |
| Broad range of instruments including forex and CFDs | Risk of high leverage may be elevated for residents |
| User-friendly platforms and global support networks | Withdrawal and bonus policies vary by region |
| Transparent regulatory disclosures | Local customer service may be less tailored for Iceland |
Our Insights
AvaTrade offers Icelandic traders access to a well-regulated international broker with robust trading conditions. While it lacks Iceland-specific regulation, its multiple licences and acceptance of Icelandic clients make it a viable choice for forex and CFD trading.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
3. Eightcap
Eightcap holds licenses from several top‑tier regulators, including 🇦🇺 ASIC, 🇬🇧 FCA, and 🇨🇾 CySEC, which signals a strong regulatory foundation. Eightcap also welcomes clients in Iceland under its EU entity, allowing Icelandic traders full access to its services.
| Feature | Description |
| Regulation | 🇦🇺 ASIC 🇬🇧 FCA 🇨🇾 CySEC |
| Availability in Iceland | Yes - accepts Icelandic clients via EU entity |
| Icelandic Licence | None |
| Key Attraction | Low spreads, high leverage, robust platforms |
| Caution Point | No direct Icelandic regulator oversight |
 | Minimum Deposit: $100 Regulated by: ASIC, FCA, CySEC, SCB Crypto: Yes |
Frequently Asked Questions
Does Eightcap accept traders from Iceland?
Yes. Icelandic clients can open accounts with Eightcap under its EU-approved entity, gaining access to all account types, platforms, and trading tools offered globally.
Is Eightcap regulated by an Icelandic authority?
No. Eightcap does not hold a licence from the Icelandic regulator. Its oversight comes from international regulators like 🇬🇧 FCA, 🇦🇺 ASIC, and 🇨🇾 CySEC rather than domestic Icelandic approval.
| Minimum Deposit: $100 Regulated by: ASIC, FCA, CySEC, SCB Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Holds multiple top-tier licences | Does not hold Iceland-specific regulation |
| Accepts Icelandic traders | Some account features vary by regulatory entity |
| Offers spreads from 0.0 pips and up to 1:500 leverage | Investor protection may differ by jurisdiction |
| Supports popular platforms including MT4, MT5, TradingView | Minimum deposit around USD 100 applies |
| Provides broad range of instruments and flexible trading styles | Withdrawal and bonus terms may be complex |
Our Insights
For traders in Iceland, Eightcap offers a regulated and accessible option with broad instrument access and competitive conditions. While it lacks an Iceland-specific licence, its multi-jurisdictional regulation and acceptance of Icelandic clients make it a viable choice, provided traders understand the regulatory structure.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
Top 3 Forex Brokers in Iceland – Compared
| Broker |  |  |  |
| Minimum Deposit | None | 100 USD | 100 USD |
| Fund Withdrawal Fee | None | None | Third-party fees may apply |
| Spreads From | 0.0 pips | 0.9 pips | 0.0 pips |
| Commissions | Varies by account type | None | Yes |
| Swap Fees | Varies based on position | Applicable | Yes |
| Leverage | Up to 1:500 | Up to 1:400 | Up to 1:500 |
| Regulation | 🇳🇿 FMA 🇸🇨 FSA (Seychelles) | 🇮🇪 CBI 🇻🇬 BVI 🇲🇺 FSC 🇦🇺 ASIC 🇿🇦 FSCA 🇯🇵 JFSA 🇯🇵 FFAJ | 🇦🇺 ASIC 🇬🇧 FCA 🇨🇾 CySEC 🇧🇸 SCB |
| Open an Account |  | | |
4. Saxo Bank
Saxo Bank holds a full banking licence under the 🇩🇰 Danish Financial Supervisory Authority (Danish FSA). It lists Iceland among its supported countries for onboarding new clients, providing Icelandic traders access to its platforms and services under strong regulatory oversight.
| Feature | Description |
| Regulation | 🇩🇰 Danish FSA (Bank licence) |
| Availability in Iceland | Yes - accepts Icelandic clients |
| Icelandic Licence | None |
| Key Attraction | Banking licence, wide global markets, many instruments |
| Caution Point | No direct Icelandic oversight |
 | Minimum Deposit: $0 Regulated by: FSA, FCA Crypto: Yes |
Frequently Asked Questions
Does Saxo Bank accept traders from Iceland?
Yes. Saxo Bank accepts clients in Iceland, subject to local eligibility and verification checks. Icelandic traders can open accounts through its Danish entity and access its full range of trading instruments.
Is Saxo Bank regulated in Iceland?
No. Saxo Bank does not hold a licence from an Icelandic regulator. It operates under its Danish‑based entity and other international regulatory licences, providing high standards of oversight for Icelandic clients.
| Minimum Deposit: $0 Regulated by: FSA, FCA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Bank‑licensed entity gives elevated trust | Minimum deposit and trading fees may be higher |
| Broad access to global asset classes beyond forex | Local Icelandic support details may be limited |
| Regulated in multiple top jurisdictions | Certain account tiers may require high funding |
| Deposits protected under Danish guarantee scheme | Some product availability may differ by residence |
| Accepts Icelandic customers under global entity | No local Icelandic regulator license |
Our Insights
Saxo Bank delivers a robust, bank‑licensed offering to Icelandic traders through its strong regulatory profile and broad global reach. While it lacks a direct Icelandic licence, Icelandic clients can access its services under the Danish entity and benefit from banking-grade regulatory standards.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
5. Vantage Markets
Vantage Markets holds licences from multiple regulators, including 🇦🇺 ASIC (Australia), 🇬🇧 FCA (United Kingdom), and 🇿🇦 FSCA (South Africa). Icelandic traders can open accounts with Vantage via its global entity, though it lacks specific regulation issued in Iceland.
| Feature | Description |
| Regulation | 🇦🇺 ASIC 🇬🇧 FCA 🇿🇦 FSCA |
| Availability in Iceland | Yes - Icelandic clients can open accounts |
| Icelandic Licence | None |
| Key Attraction | Broad asset access, multiple international regulators |
| Caution Point | No local Icelandic regulatory oversight |
 | Minimum Deposit: $50 Regulated by: CIMA, VFSC, FSCA, ASIC Crypto: Yes |
Frequently Asked Questions
Does Vantage Markets accept traders from Iceland?
Yes. Vantage Markets accepts Icelandic clients and allows them to open trading accounts under its global entity structure, providing access to its platforms and instruments.
Is Vantage Markets regulated in Iceland?
No. Vantage Markets does not hold a licence from an Icelandic regulator. Its oversight comes through international regulators rather than local Icelandic approval.
| Minimum Deposit: $50 Regulated by: CIMA, VFSC, FSCA, ASIC Crypto: Yes |
5. Vantage Markets
Vantage Markets holds licences from multiple regulators, including 🇦🇺 ASIC (Australia), 🇬🇧 FCA (United Kingdom), and 🇿🇦 FSCA (South Africa). Icelandic traders can open accounts with Vantage via its global entity, though it lacks specific regulation issued in Iceland.
| Feature | Description |
| Regulation | 🇦🇺 ASIC 🇬🇧 FCA 🇿🇦 FSCA |
| Availability in Iceland | Yes - Icelandic clients can open accounts |
| Icelandic Licence | None |
| Key Attraction | Broad asset access, multiple international regulators |
| Caution Point | No local Icelandic regulatory oversight |
| Minimum Deposit: $50 Regulated by: CIMA, VFSC, FSCA, ASIC Crypto: Yes |
Frequently Asked Questions
Does Vantage Markets accept traders from Iceland?
Yes. Vantage Markets accepts Icelandic clients and allows them to open trading accounts under its global entity structure, providing access to its platforms and instruments.
Is Vantage Markets regulated in Iceland?
No. Vantage Markets does not hold a licence from an Icelandic regulator. Its oversight comes through international regulators rather than local Icelandic approval.
| Minimum Deposit: $50 Regulated by: CIMA, VFSC, FSCA, ASIC Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Holds multiple respected international licences | Lacks a licence specific to Iceland |
| Accepts Icelandic traders through global entity | Protection level may vary by regulatory jurisdiction |
| Offers broad asset classes beyond just forex | Some entity structures may cause regulatory ambiguity |
| Supports popular trading platforms and account types | Minimum deposit and account terms vary by jurisdiction |
| Established broker with long‑term market presence | No direct Icelandic regulator oversight |
Our Insights
Vantage Markets offers Icelandic traders access to a globally regulated broker with a wide range of markets. While it lacks Iceland‑specific regulatory approval, Icelandic traders can benefit from its multiple international licences, but they should understand the protections and regulatory framework involved.
| # | Criteria | Score |
| 1. | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2. | Range of Investments, Platforms and Tools | ⭐⭐⭐☆☆ |
| 3. | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4. | Research and Education | ⭐⭐☆☆☆ |
| 5. | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6. | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7. | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8. | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9. | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10. | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
Forex Trading in Iceland – Quick Overview
Forex trading in Iceland is accessible to residents through international brokers regulated by top-tier authorities such as 🇮🇪 CBI, 🇬🇧 FCA, 🇦🇺 ASIC, and 🇨🇾 CySEC. The local financial market is overseen by the 🇮🇸 Financial Supervisory Authority (FME).
Icelandic traders typically use foreign brokers to access global forex markets, benefiting from robust platforms, diverse currency pairs, and competitive spreads.
Pros and Cons of Forex Trading in Iceland
| ✓ Pros | ✕ Cons |
| Legal and accessible | Limited local brokers |
| Can use EU-regulated brokers | Must rely on offshore platforms |
| Strong investor protections | Leverage restrictions apply |
| Access to global currency pairs | Some brokers do not accept ISK |
| Advanced trading platforms | Local support may be limited |
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In Conclusion
Icelandic traders can safely access global forex markets using reputable international brokers. While local oversight exists through the 🇮🇸 FME, most trading occurs via EU or other regulated entities. Traders should choose brokers with strong regulation, transparent fees, and investor protections to trade confidently.
Faq
Yes. Trading forex is legal for residents, but most traders use internationally regulated brokers.
The Financial Supervisory Authority (FME) supervises the local financial markets.
Yes. EU-regulated brokers under licenses like CBI or FCA are widely available for Icelandic clients.
Leverage depends on the broker and regulatory requirements. EU brokers often limit leverage to protect traders.
Yes. Using EU or other top-tier regulated brokers ensures compensation schemes and segregated funds for client protection.
