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6 Best Forex Brokers in Monaco

Last Update: June 26th, 2024

Best Forex Brokers in Monaco

 

The 6 Best Forex Brokers in Monaco -Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Monaco.

 

In this in-depth guide you will learn:

 

  • The Best Forex Brokers in Monaco – a List
  • Is Forex Trading legal in Monaco?
  • Can I invest in Monaco?
  • Can you trade stocks in Monaco?
  • The Best Forex Brokers for Beginners
  • The Best MetaTrader Forex Brokers

 

and much, MUCH more!

 

6 Best Forex Brokers in Monaco

 

6 Best Forex Brokers in Monaco – a Comparison

 

🔎 Broker🚀Open an Account🤝 Accepts Monegasque Traders
💶 Min. Deposit (EUR)
🥇 Saxo Bank👉 Click Here✅YesNone
🥈 IC Markets👉 Click Here✅Yes183,97
🥉 OANDA👉 Click Here✅YesNone
🏅 XTB👉 Click Here✅YesNone
🎖️ CMC Markets👉 Click Here✅YesNone
🥇 Tickmill👉 Click Here✅Yes91,98

 

6 Best Forex Brokers in Monaco (2024)

 

  1. ☑️ Saxo Bank – Overall, the Best Forex Broker in Monaco
  2. ☑️ IC Markets – Best Overall Offering
  3. ☑️ OANDA – Best MetaTrader Forex Broker
  4. ☑️ XTB – Best Online Trading Experience
  5. ☑️ CMC Markets – High Monegasque Trust Score
  6. ☑️ Tickmill – Best Forex Broker for Beginners

 

Saxo Bank Review

 

Saxo Bank

Saxo is a renowned investment firm that offers access to over 70,000 unique financial products across diverse asset classes.  Accounts offered are Classic, Platinum, and VIP. Moreover, no Minimum deposit is required. Proprietary trading platforms include SaxoTraderGO and SaxOTraderPRO.

Regulations include the FCA, MAS, FINMA, CONSOB, Japan JFSA, Hong Kong FSC, ASIC, the Dutch Central Bank, and the Authority for Financial Markets in the Netherlands

 

🔎 Broker🥇 Saxo
📈 Ease of Use4/5
📉 Support Hours24/5
📊 Trading PlatformsSaxoTraderGO, SaxoTraderPRO
💹 Account TypesClassic, Platinum, VIP
💴 Base Currencies18 currencies
🅰️ SpreadsFrom 0.4 pips
🅱️ Leverage1:30
💸 Currency Pairs185+
💳 Minimum Deposit0 USD
🚫 Inactivity FeeNone
⚙️ Website LanguagesEnglish, Danish, French, etc.
💰 Fees and CommissionsSpreads from 0.4 pips; commissions from $0 on Mutual Funds
🤝 Affiliate Program✅Yes
❌ Banned CountriesUnited States
📈 Scalping✅Yes
📉 Hedging✅Yes
📊 Trading InstrumentsForex, CFDs, stocks, commodities, futures, FX options, listed options, ETFs, bonds, mutual funds
🚀Open an Account👉 Click Here

 

Saxo Bank

 

Pros and Cons

 

✅ Pros❌ Cons
Instructional resources High Fees when Compared
Multiple Trading PlatformsFutures and options - complicated cost structures

 

Our Insights

Saxo can be an overwhelming Broker for Beginner Traders. It is best suited to Experienced traders who will benefit from the wide variety of options offered.

 

IC Markets Review

 

IC Markets

IC Markets is a trusted brokerage with an excellent all-round offering and a high trust score. Trading Instruments include currencies, stocks, CFDs on Commodities, futures, bonds, and digital assets. Accounts available are cTrader, Raw Spread, and, Standard.

Trading Platforms available are MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, and,  ZuluTrade. Regulations include ASIC, CySEC, FSA, and, the SCB.

 

🔎 Broker🥇 IC Markets
💴 Minimum Deposit200 USD
💵 Inactivity FeeNone
📌 Regulation and LicensesASIC, CySEC, FSA, SCB
5️⃣ Ease of Use Rating5/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

IC Markets

 

Pros and Cons

 

✅Pros❌Cons
Affordable forex and CFD trading costsHigh minimum deposit requirement
Comprehensive education and researchNo investor protection for non-EU customers

 

Our Insights

IC Markets cater to traders from all expertise levels. In addition, automated trading strategies are available via MetaTrader and cTrader Platforms.

 

OANDA

 

OANDA

OANDA is a globally recognized Forex Broker. Trading Instruments include Forex, indices, commodities, metals, shares, energies, and, cryptocurrencies. Accounts available are Standard, Core, Swap-Free, Premium, and, Premium Core. Moreover, a minimum deposit is not required.

Trading Platforms offered are FxTrade, MetaTrader 4, and, MetaTrader 5. In addition, a Proprietary Mobile trading platform is available. Regulations include IIROC, ASIC, CFTC, and, the NFA.

 

🔎 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 offers its services to traders of all levels of experience. Beginner traders will benefit from an easy-to-use mobile app and award-winning trading platforms.

 

XTB Review

 

XTB

XTB is a trusted and well-established Forex Broker with competitive spreads and low account-related fees. Trading Instruments include Forex, indices, commodities, stocks, ETFs, and, Crypto CFDs. Accounts available are Standard and Swap-Free. Moreover, no minimum deposit is required.

Trading platforms offered are Proprietary, namely xStation 5 and xStation 5 Mobile. Regulations include FCA, ACPR, and, BaFin.

 

🔍 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 is a good choice for all traders with high regulations and low costs. Moreover, Beginners will benefit from impressive educational resources.

 

CMC Markets Review

 

CMC Markets

CMC Markets is a well-regulated and highly-trusted Forex Broker. Trading instruments include Forex, indices, commodities, crypto CFDs, shares, share baskets, treasuries, and, ETFs. Moreover, Scalping and Hedging are available. Accounts offered are CFD, Spread Betting, and, Corporate. No minimum deposit is required.

Trading Platforms available are MetaTrader 4 and NextGeneration. In addition, a CMC Markets Mobile app is available. Regulations include BaFin, FCA, and, ASIC.

 

🔎 Broker🥇 CMC Markets
💴 Minimum Deposit0 USD
5️⃣ Ease of Use Rating5/5
🎁 BonusesYes
⏰ Support Hours24/5
🚀 Open an Account👉 Click Here

 

CMC Markets

 

Pros and Cons

 

✅ Pros❌ Cons
Next Generation platformHigh Fees

 

Our Insights

CMC Markets is a fit for all types of traders. Moreover, Beginners will benefit from various instructional articles and dedicated customer support.

 

Tickmill Review

 

Tickmill

Tickmill is a trusted and highly regulated Forex Broker with access to tight spreads and low commissions. Trading instruments available are Forex, Stock indices, Energy indices, Precious metals, Bonds, Cryptocurrencies, Stocks, and, ETFs. Account available are VIP, Classic, and, Pro. Moreover, a minimum deposit of 100 USD is required.

Trading Platforms available are MetaTrader 4 and MetaTrader 5. In addition, a Tickmill Mobile App is available. Regulations include the FCA and CySEC.

 

🔎 Broker🥇 Tickmill
💴 Minimum Deposit$100
💵 Inactivity FeeNone
📈 SpreadsFrom 0.0 pips on the Pro and VIP Accounts
📉 Leverage1:500
💶 Currency Pairs62, major, minor, and exotic pairs
📊 Scalping✅Yes
💹 Hedging✅Yes
🖱️ Trading PlatformsMetaTrader 4, MetaTrader 5, Tickmill App
⏰ Support Hours24/5
🚀 Open an Account
👉 Click Here

 

Tickmill Pros and Cons

 

Pros and Cons

 

✅ Pros❌ Cons
MetaTrader 4 and MetaTrader 5Limited range of instruments
Pro account with minimal commissionsLimited Trading Platforms

 

Our Insights

Tickmill best suits high-volume traders. Moreover, it provides impressive charting tools and dedicated customer support.

 

Forex in Monaco

 

The Financial Activities Control Commission of Monaco

The CCAF Monaco ensures the stability and transparency of the country’s financial sector. It is an independent administrative authority committed to protecting the interests and investments of consumers.

 

The Financial Activities Control Commission of Monaco

 

Is Forex Trading Legal in Monaco?

Forex Trading is Legal and Regulated by The Financial Activities Control Commission of Monaco.

 

Is Forex Trading Legal in Monaco?

 

In Conclusion

The popularity of trading in Monaco has seen a rise amongst Young Professionals. Moreover, it is regulated by the Financial Activities Control Commission. Multiple International Forex Brokers accept Monegasque 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 ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewCySEC, MISA, FSCAUSD 25Visit 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 Monegasque Traders, we found 6 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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FAQs

Forex Trading is Legal and Regulated in Monaco.

The Financial Activities Control Commission of Monaco.

The Euro (EUR).

Saxo Bank does charge a Commission Fee for Trading.

The minimum deposit to open an IC Markets account is 200 USD.

Forex, indices, commodities, metals, shares, energies, and, cryptocurrencies.

The FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, and, IFSC.

CMC Markets offers MetaTrader 4.

An Inactivity Fee is not charged.

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