5 Best Forex Brokers in Latvia
The 5 Best Forex Brokers in Latvia – Rated and Reviewed. We have listed the Best Forex Brokers that accept Traders in Latvia.
In this in-depth guide, you will learn:
- The Best Forex Brokers in Latvia – a List
- Is Forex Trading Legal in Latvia?
- The Best Forex Brokers For Beginners and Foreigners
- The Best MetaTrader 4 and MetaTrader 5 Brokers
- What is the best forex broker in Europe?
and much, MUCH more!
5 Best Forex Brokers in Latvia – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Latvian Traders | 💶 Min. Deposit (EUR) |
| 🥇 eToro | 👉 Click Here | ✅Yes | 9,28 |
| 🥈 Oanda | 👉 Click Here | ✅Yes | None |
| 🥉 Plus500 | 👉 Click Here | ✅Yes | 92,84 |
| 🏅 XTB | 👉 Click Here | ✅Yes | None |
| 🎖️ Pepperstone | 👉 Click Here | ✅Yes | 123,08 |
5 Best Forex Brokers in Latvia (2024)
- ☑️ eToro – Overall, The Best Forex Broker in Latvia
- ☑️ Oanda – The Best Forex Broker for Professionals
- ☑️ Plus500 – Best Overall Offering
- ☑️ XTB – Best Online Trading Experience
- ☑️ Pepperstone – Best Forex Broker for Beginners
eToro
eToro is a social trading and multi-asset investment company that offers access to Forex, Stocks, Crypto CFDs, Indices, Commodities, and, ETFs. CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and, the SIPC regulate it. The eToro Standard account is integrated with a proprietary trading platform.
Notable features include Spreads from 1 Pips, Leverage of up to 1:400, and, access to an affiliate program. Moreover, Negative Balance protection is offered.
| 🔎 Broker | 🥇 eToro |
| 📈 Regulation and Licenses | CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC |
| 📉 Ease of Use | 5/5 |
| 📊 Support Hours | 24/5 |
| 💻 Trading Platforms | eToro platform |
| 💹 Account Types | Standard Retail Account |
| 💴 Base Currencies | USD |
| 🅰️ Spreads | From 1 pip EUR/USD |
| 🅱️ Leverage | 1:400 (eToro Seychelles Ltd) |
| 💶 Currency Pairs | 55; minor, major, exotic pairs |
| 💳 Minimum Deposit | From 10 USD (US) |
| 🚫 Inactivity Fee | 10 USD after 12 months of inactivity |
| 📌 Website Languages | English, Italian, German, etc. |
| 💰 Fees and Commissions | Spreads from 1 pip, zero commission fees |
| 🤝 Affiliate Program | ✅Yes |
| ✖️ Banned Countries | Canada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan, and Syria |
| 📈 Scalping | None |
| 📉 Hedging | ✅Yes |
| 📊 Trading Instruments | Forex, stocks, crypto (physical), crypto CFDs, indices, commodities, ETFs |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Social trading | Withdrawal Fee |
| Low trading fees | Inactivity fee |
| Negative balance protection | Conversion fees |
| User-friendly Platform | Single base currency |
Our Insights
eToro suites all levels of Traders. However, a High Inactivity Fee is charged after 12 Months of Account dormency.
OANDA
OANDA is a trusted global brand that offers access to Forex, indices, commodities, metals, shares, energies, and, cryptocurrency trading. Moreover, IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, and, the BVI FSC regulate it. Accounts available include Standard, Core, Swap-Free, Premium, and, Premium Core.
In Addition, trading platforms offered are FxTrade, MetaTrader 4, and, MetaTrader 5. Moreover, a Proprietary Mobile Trading App is available. Notable features include Spreads from 0.1 Pips and a Leverage of up to 1:888. Moreover, a minimum deposit is not required.
| 🔎 Broker | 🥇 OANDA |
| 💶 Minimum Deposit | None |
| 📌 Account Types | Standard, Elite Trader |
| 🆓 Demo Account | ✅Yes |
| 🎁 Bonus Offers | ✅Yes |
| ✏️ Education | ✅Yes |
| 📲 Mobile Trading | ✅Yes |
| 🖱️ Trading Platform | MetaTrader 4 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Great trading platforms | Only FX and CFD available for most clients |
| Outstanding research tools | Lacking Customer Support |
| Low trading fees | Inactivity fee |
Our Insights
OANDA is best suited to established traders due to its excellent trading platform.
Plus500
Plus500 is a global fintech group that offers Cryptocurrencies, Forex, indices, commodities, shares, options, and, ETFs trading. Moreover, ASIC, FSCA, FCA, CySEC, FSA Seychelles, and, MAS regulate it. Furthermore, the Plus500 Standard Account is integrated with a proprietary trading platform. In addition, the base Currencies available are USD, GBP, ZAR, and, EUR.
Notable features include spreads from 0.8 Pips and commission-free trading.
| 🔎 Broker | 🥇 Plus500 |
| 📈 Regulation | ASIC, FSCA, FCA, CySEC, FSA Seychelles, MAS |
| 📉 Ease of Use | 5/5 |
| 📊 Support Hours | 24/7 |
| 💹 Trading Platforms | Plus500 platform |
| ↪️ Account Types | Live Trading Account |
| 💴 Base Currencies | USD, GBP, ZAR, EUR |
| 📌 Spreads | From 0.8 pips |
| 📍 Leverage | 1:300 |
| 💶 Currency Pairs | 60+; minor, major, and exotic pairs |
| 💵 Minimum Deposit | 100 USD |
| 💷 Inactivity Fee | Yes, 10 USD after three months of inactivity |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| The Plus500 platform does not have a high learning curve like other platforms | Plus500 does not offer MetaTrader or any other third-party platforms |
| Plus500’s demo account is ideal for testing trading strategies and practicing trading | There are high CFD fees because of wider, marked-up spreads |
| Plus500 works on a spread-only basis, free from commission fees | There is a 0.7% currency conversion fee |
Our Insights
Plus500 best suits active and established traders. However, Scalping and Hedging are not allowed. Moreover, a 10 USD inactivity fee is levied after three months of inactivity.
XTB
XTB is a reliable and respected leading Forex and CFDs Broker. The FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, and, IFSC regulate it. Trading instruments offered include Forex, indices, commodities, stocks, ETFs, and, crypto CFDs. Moreover, no minimum deposit is required.
Notable features include Spreads from 0.5 Pips, Leverage of up to 1:500, and, Multilingual Customer Support.
| 🔍 Broker | 🥇 XTB |
| 💵 Minimum Deposit | 0 USD |
| 5️⃣ Ease of use Rating | 5/5 |
| 🎁 Bonuses | ✅ Yes |
| ⏰ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic Account | Inactivity fee |
| Free Deposit and Withdrawal | High conversion fee |
Our Insights
XTB suits all levels of traders and trading fees are low. However, an Inactivity of 10 GBP is charged per month after 12 months of account inactivity.
Pepperstone
Pepperstone is a trusted and highly regulated Forex Broker with a minimum deposit of AU$ 200. ASIC, BaFin, CMA, CySEC, DFSA, FCA and, the SCB regulate it. Trading Instruments available include Forex, commodities, indices, currency indices, cryptocurrencies, shares, and, ETFs.
Notable features include access to 70+ Currency Pairs, Spreads from 0.0 Pips, and, Hedging. However, Commissions and an Inactivity Fee are charged.
| 🔎 Broker | 🥇 Pepperstone |
| 💴 Minimum Deposit | AU$200 |
| 📈 Account Types | Standard Account, Razor Account |
| 💵 Base Currencies | USD, GBP |
| 📉 Spreads | From 0.0 pips EUR/USD on the Razor Account |
| 📊 Leverage | 1:500 (Pro), 1:200 (Retail) |
| 💶 Currency Pairs | 70, minor, major, and exotic pairs |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fully digital account opening | Mostly CFDs offered |
| Great customer service | Basic Trading Platforms |
Our Insights
Pepperstone suits all traders. Moreover, it provides multilingual customer support. However, trading is not commission free and an Inactivity Fee is levied.
The Latvian Financial and Capital Market Commission
The Financial and Capital Market Commission in Latvia is in charge of the oversight and regulation of the Latvian financial services industry.
The European Securities and Markets Authority (ESMA)
The European Securities and Markets Authority is a European Supervisory authority. It is one of three set up within the European System of Financial Supervision, including the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority.
Is Forex Trading Legal in Latvia?
Forex Trading in Latvia is Legal and Well-regulated. Moreover, it is governed by the Latvian Financial and Capital Market Commission and the European Securities and Markets Authority (ESMA).
In Conclusion
The popularity of Forex in Latvia has seen a rise amongst young professionals. Moreover, it is well-licensed and regulated. Multiple international Forex Brokers accept Latvian Traders.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | CySEC, MISA, FSCA | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker >> |
Our Insights
While reviewing the Best Forex Brokers that accept Latvian Traders, we found 5 excellent options. Each broker has its list of Benefits, ranging from multiple account types to multilingual customer support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.
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Frequently Asked Questions
Is Forex Trading Legal in Latvia?
Forex Trading in Lavia is legal and well-regulated.
Who regulates Forex in Latvia?
The Latvian Financial and Capital Market Commission and the European Securities and Markets Authority (ESMA).
What Platform does eToro support?
eToro provides a proprietary trading platform.
Does OANDA offer customer support?
OANDA provides 24/5 Customer Support.
What base currencies does Plus500 accept?
Plus500 accepts USD, GBP, ZAR, and, EUR.
Does XTB have a Bonus offer?
XTB offers a Welcome and Deposit Bonus.
Does Pepperstone charge an inactivity Fee?
Pepperstone does not charge an inactivity fee on dormant accounts.
Top 4 Brokers
