6 Best Forex Brokers in Monaco
Last Update: June 26th, 2024
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 – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Monegasque Traders | 💶 Min. Deposit (EUR) |
| 🥇 Saxo Bank | 👉 Click Here | ✅Yes | None |
| 🥈 IC Markets | 👉 Click Here | ✅Yes | 183,97 |
| 🥉 OANDA | 👉 Click Here | ✅Yes | None |
| 🏅 XTB | 👉 Click Here | ✅Yes | None |
| 🎖️ CMC Markets | 👉 Click Here | ✅Yes | None |
| 🥇 Tickmill | 👉 Click Here | ✅Yes | 91,98 |
6 Best Forex Brokers in Monaco (2024)
- ☑️ Saxo Bank – Overall, the Best Forex Broker in Monaco
- ☑️ IC Markets – Best Overall Offering
- ☑️ OANDA – Best MetaTrader Forex Broker
- ☑️ XTB – Best Online Trading Experience
- ☑️ CMC Markets – High Monegasque Trust Score
- ☑️ Tickmill – Best Forex Broker for Beginners
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 Use | 4/5 |
| 📉 Support Hours | 24/5 |
| 📊 Trading Platforms | SaxoTraderGO, SaxoTraderPRO |
| 💹 Account Types | Classic, Platinum, VIP |
| 💴 Base Currencies | 18 currencies |
| 🅰️ Spreads | From 0.4 pips |
| 🅱️ Leverage | 1:30 |
| 💸 Currency Pairs | 185+ |
| 💳 Minimum Deposit | 0 USD |
| 🚫 Inactivity Fee | None |
| ⚙️ Website Languages | English, Danish, French, etc. |
| 💰 Fees and Commissions | Spreads from 0.4 pips; commissions from $0 on Mutual Funds |
| 🤝 Affiliate Program | ✅Yes |
| ❌ Banned Countries | United States |
| 📈 Scalping | ✅Yes |
| 📉 Hedging | ✅Yes |
| 📊 Trading Instruments | Forex, CFDs, stocks, commodities, futures, FX options, listed options, ETFs, bonds, mutual funds |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Instructional resources | High Fees when Compared |
| Multiple Trading Platforms | Futures 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
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 Deposit | 200 USD |
| 💵 Inactivity Fee | None |
| 📌 Regulation and Licenses | ASIC, CySEC, FSA, SCB |
| 5️⃣ Ease of Use Rating | 5/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Affordable forex and CFD trading costs | High minimum deposit requirement |
| Comprehensive education and research | No 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 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 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 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
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 |
| 📌 Year Founded | 2002 |
| 👤 Amount of Staff | Approximately 2,000 |
| 👥 Amount of Active Traders | Over 500,000 |
| 📍 Publicly Traded | Warsaw Stock Exchange |
| 📈 Regulation | FCA, KNF, IFSC, CySEC |
| 🌎 Country of Regulation | UK (FCA), Poland (KNF) |
| 📉 Account Segregation | ✅Yes |
| 📊 Negative Balance Protection | ✅Yes |
| 💹 Investor Protection Schemes | ✅Yes |
| 🅰️ Institutional Accounts | ✅Yes |
| 🅱️ Managed Accounts | None |
| 💰 Minor Account Currencies | Major, Minor |
| 💴 Minimum Deposit | Varies by account type |
| ⚡ Average Deposit/Withdrawal Processing Time | 1-3 business days |
| 💶 Fund Withdrawal Fee | None |
| 📐 Spreads From | From 0.1 pips |
| 💶 Commissions | Variable |
| 💵 Number of Base Currencies Supported | 30+ |
| 💷 Swap Fees | ✅Yes |
| 🔖 Leverage | Up to 1:500 |
| 🏷️ Margin Requirements | Varies |
| ☪️ Islamic Account | ✅Yes |
| 🆓 Demo Account | ✅Yes |
| 🖇️ Order Execution Time Seconds | Milliseconds - |
| 🖥️ VPS Hosting | Select accounts |
| 📈 CFDs Total | Over 2,000 |
| 📉 CFD Stock Indices | Major global indices |
| 🍎 CFD Commodities | Oil, gold, etc. |
| 📊 CFD Shares | ✅Yes |
| 💴 Deposit Options | Bank transfer, credit/debit, e-wallets, etc. |
| 💶 Withdrawal Options | Bank transfer, credit/debit, e-wallets, etc. |
| 🖱️ Trading Platforms | xStation 5 |
| ⭐ OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️ Forex Trading Tools | Charting tools, technical analysis |
| 🥰 Live Chat Availability | ✅Yes |
| ☎️ Customer Support Contact Number | Varies by region |
| 💙 Social Media Platforms | Twitter, Facebook, LinkedIn, |
| 🚩 Languages Supported | Multiple languages |
| ✏️ Forex Course | ✅Yes |
| 📔 Webinars | ✅Yes |
| 📚 Educational Resources | Articles, tutorials, etc. |
| 🤝 Affiliate Program | ✅Yes |
| 🫶 Amount of Partners | Numerous global partners |
| 🫰🏻 IB Program | ✅Yes |
| 🔖 Notable Events or Teams | ✅Yes |
| 🏷️ Rebate Program | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic Account | Inactivity fee |
| Free Deposit and Withdrawal | High 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
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 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 |
| Next Generation platform | High 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
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 Fee | None |
| 📈 Spreads | From 0.0 pips on the Pro and VIP Accounts |
| 📉 Leverage | 1:500 |
| 💶 Currency Pairs | 62, major, minor, and exotic pairs |
| 📊 Scalping | ✅Yes |
| 💹 Hedging | ✅Yes |
| 🖱️ Trading Platforms | MetaTrader 4, MetaTrader 5, Tickmill App |
| ⏰ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| MetaTrader 4 and MetaTrader 5 | Limited range of instruments |
| Pro account with minimal commissions | Limited Trading Platforms |
Our Insights
Tickmill best suits high-volume traders. Moreover, it provides impressive charting tools and dedicated customer support.
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.
Is Forex Trading Legal in Monaco?
Forex Trading is Legal and Regulated by The Financial Activities Control Commission of 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.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | FCA, FSCA, FSC, CMA | USD 10 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | CySEC, MISA, FSCA | USD 25 | 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 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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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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