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5 Best Forex Brokers in Latvia

Forex Brokers 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

 

5 Best Forex Brokers in Latvia – a Comparison

 

🔎 Broker🚀Open an Account🤝 Accepts Latvian Traders💶 Min. Deposit (EUR)
🥇 eToro👉 Click Here✅Yes9,28
🥈 Oanda👉 Click Here✅YesNone
🥉 Plus500👉 Click Here✅Yes92,84
🏅 XTB👉 Click Here✅YesNone
🎖️ Pepperstone👉 Click Here ✅Yes123,08

 

5 Best Forex Brokers in Latvia (2024)

 

  1. ☑️ eToro – Overall, The Best Forex Broker in Latvia
  2. ☑️ Oanda – The Best Forex Broker for Professionals
  3. ☑️ Plus500 – Best Overall Offering
  4. ☑️ XTB – Best Online Trading Experience
  5. ☑️ Pepperstone – Best Forex Broker for Beginners

 

eToro Review

 

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 LicensesCySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC
📉 Ease of Use5/5
📊 Support Hours24/5
💻 Trading PlatformseToro platform
💹 Account TypesStandard Retail Account
💴 Base CurrenciesUSD
🅰️ SpreadsFrom 1 pip EUR/USD
🅱️ Leverage1:400 (eToro Seychelles Ltd)
💶 Currency Pairs55; minor, major, exotic pairs
💳 Minimum DepositFrom 10 USD (US)
🚫 Inactivity Fee10 USD after 12 months of inactivity
📌 Website LanguagesEnglish, Italian, German, etc.
💰 Fees and CommissionsSpreads from 1 pip, zero commission fees
🤝 Affiliate Program✅Yes
✖️ Banned CountriesCanada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan, and Syria
📈 ScalpingNone
📉 Hedging✅Yes
📊 Trading InstrumentsForex, stocks, crypto (physical), crypto CFDs, indices, commodities, ETFs
🚀Open an Account👉 Click Here

 

eToro Overview

 

Pros and Cons

 

✅ Pros❌ Cons
Social tradingWithdrawal Fee
Low trading feesInactivity fee
Negative balance protectionConversion fees
User-friendly PlatformSingle 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

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 DepositNone
📌 Account TypesStandard, Elite Trader
🆓 Demo Account✅Yes
🎁 Bonus Offers✅Yes
✏️ Education✅Yes
📲 Mobile Trading ✅Yes
🖱️ Trading PlatformMetaTrader 4
🚀Open an Account👉 Click Here

 

Oanda

 

Pros and Cons

 

✅ Pros❌ Cons
Great trading platformsOnly FX and CFD available for most clients
Outstanding research toolsLacking Customer Support
Low trading feesInactivity fee

 

Our Insights

OANDA is best suited to established traders due to its excellent trading platform.

 

Plus500

 

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
📈 RegulationASIC, FSCA, FCA, CySEC, FSA Seychelles, MAS
📉 Ease of Use5/5
📊 Support Hours24/7
💹 Trading PlatformsPlus500 platform
↪️ Account TypesLive Trading Account
💴 Base CurrenciesUSD, GBP, ZAR, EUR
📌 SpreadsFrom 0.8 pips
📍 Leverage1:300
💶 Currency Pairs60+; minor, major, and exotic pairs
💵 Minimum Deposit100 USD
💷 Inactivity FeeYes, 10 USD after three months of inactivity
🚀Open an Account👉 Click Here

 

Plus500

 

Pros and Cons

 

✅ Pros❌ Cons
The Plus500 platform does not have a high learning curve like other platformsPlus500 does not offer MetaTrader or any other third-party platforms
Plus500’s demo account is ideal for testing trading strategies and practicing tradingThere are high CFD fees because of wider, marked-up spreads
Plus500 works on a spread-only basis, free from commission feesThere 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 Review

 

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 Deposit0 USD
5️⃣ Ease of use Rating 5/5
🎁 Bonuses✅ Yes
⏰ Support Hours24/5
🚀 Open an Account👉 Click Here

 

XTB

 

Pros and Cons

 

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalHigh 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

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 DepositAU$200
📈 Account TypesStandard Account, Razor Account
💵 Base CurrenciesUSD, GBP
📉 SpreadsFrom 0.0 pips EUR/USD on the Razor Account
📊 Leverage1:500 (Pro), 1:200 (Retail)
💶 Currency Pairs70, minor, major, and exotic pairs
🚀 Open an Account
👉 Click Here

 

Pepperstone

 

Pros and Cons

 

✅ Pros❌ Cons
Fully digital account openingMostly CFDs offered
Great customer serviceBasic 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.

 

Forex in Latvia

 

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 Latvian Financial and Capital Market Commission

 

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.

 

The European Securities and Markets Authority (ESMA)

 

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).

 

Is Forex Trading Legal in Latvia?

 

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.

 

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewCySEC, MISA, FSCAUSD 5Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewFCA, FINMA, FSA, ASICUSD 0Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit 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.