6 Best Forex Brokers in Norway
The 6 best Forex brokers in Norway revealed. We have explored and tested several prominent brokers to identify the 6 best.
In this in-depth guide you’ll learn:
- What is a Forex broker in Norway?
- Who is the Best Suited Broker for Beginner Norway Traders?
- Pros and cons of each broker.
- Can I use leverage while trading Forex in Norway?
- Popular FAQs about the best Forex brokers in Norway.
And lots more…
So, if you’re ready to go “all in” with the 6 best Forex brokers in Norway…
Let’s dive right in…
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 SFSA, FSCA, CySec* 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 Not Regulated 0.001 BTC Visit Broker >> 9 
Read Review ASIC, CySEC, FSCA, CMA USD 100 Visit Broker >> 10 
Read Review CySEC,MISA, FSCA USD 20 Visit Broker >>
What is a Forex broker in Norway?
Forex brokers in Norway offer platforms for individuals to trade currencies. They provide access to global markets, offering a range of currency pairs for trading, along with analytical tools and educational resources. Regulated by the Financial Supervisory Authority, Norwegian brokers ensure transparency and security for traders operating in the forex market.
Best Forex Brokers in Norway – Comparison
| 👥 Brokers | 👉 Open Account | 💰 Minimum Deposit | ⚖️ Regulators | 📈 Minimum Spread |
| 1. IG Group | Open Account | NOK2,634.75 or $250 | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA | From 0.0 pips |
| 2. Interactive Brokers | Open Account | There is no specific minimum deposit required | SEC, CFTC, FCA, SEBI | From 0.0 pips |
| 3. Saxo Bank | Open Account | There is no specific minimum deposit required | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA | From 0.0 pips |
| 4. XTB | Open Account | There is no specific minimum deposit required | FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, IFSC | From 0.5 pips |
| 5. AvaTrade | Open Account | NOK1,055.01 or $100 | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA | From 0.0 pips |
| 6. HFM | Open Account | There is no specific minimum deposit required | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA | From 0.0 pips |
6 Best Forex Brokers in Norway (2024*)
- ✔️IG Group – Overall Best Forex Broker in Norway
- ✔️Interactive Brokers – Authorized By Several Reputable Market Regulators
- ✔️Saxo Bank – Best Nasdaq 100 Forex Broker for Norway Traders
- ✔️XTB – Provides Educational Resources
- ✔️AvaTrade – Best Forex Broker for Beginner Norway Traders
- ✔️HFM – Offers a Wide selection of instruments
1. IG Group
IG Group is a compelling option for traders in Norway. Their wide range of financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies, caters to diverse trading preferences in the Norwegian market.
The broker offers advanced trading platforms equipped with robust analytical tools and features, facilitating efficient trade execution and decision-making processes.
They provide competitive pricing with low spreads and commissions, enhancing the profitability of traders in Norway. The platform offers localized support and educational resources, which are valuable for traders looking to enhance their skills and knowledge.
Importantly, they are regulated by reputable authorities, ensuring a secure and transparent trading environment for Norwegian traders.
Overall, the broker’s comprehensive offering, advanced technology, competitive pricing, regulatory compliance, and strong support make it a compelling choice for traders in Norway looking to engage in various financial markets with confidence.
Unique Features
📝 Regulation FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA ✴️ Finanstilsynet regulation? No 📱 Social Media Platforms LinkedIn, Twitter, Facebook, YouTube 🔎 Trading Accounts IG Trading Account, Limited Risk Account, Islamic Account (Dubai traders only), Demo Account 💻 Trading Platforms MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API 💸 Minimum Deposit NOK2,634.75 or $250 🔁 Trading Assets Forex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options 🚀 NOK-based Account? Yes 💳 NOK Deposits Allowed? Yes 💰 Bonuses for traders? No 📊 Minimum spread From 0.0 pips ✔️ Demo Account Yes ✔️ Islamic Account Yes (Dubai customers only) 🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Commodities, currencies, stocks, and indices are just a few of the numerous investment options that provide a range of trading strategies. | Comparing the fees and taxes to those of other brokers, some traders might think they are too high. |
| Traders can effectively manage costs with the help of competitive commission agreements and transparent charge standards. | When compared to brokers with specialized knowledge, they have limited access to certain markets or assets. |
| Trading platforms with comprehensive tools, analytical capabilities, and ease of use promote quick decision-making and trade execution. | |
| Large-scale customer support via numerous channels ensures that traders get guidance and assistance on time. |
Trust Score
IG has a very high trust score of 99%
2. Interactive Brokers
Interactive Brokers (IB) presents a compelling option for advanced traders in Norway seeking sophisticated trading software.
IB offers a highly customizable trading platform, Trader Workstation (TWS), renowned for its advanced features and flexibility. TWS provides access to an extensive range of markets and allows for complex trading strategies, including algorithmic trading and options trading, catering to the preferences of advanced traders.
The broker offers competitive pricing with low commissions and tight spreads, which can significantly benefit high-volume traders in Norway.
IB provides access to a vast array of financial instruments, including stocks, options, futures, forex, bonds, and more, allowing traders to diversify their portfolios effectively.
They are known for its robust risk management tools, extensive research resources, and direct market access, empowering advanced traders in Norway to execute their strategies with precision and confidence.
Overall, Interactive Brokers stands out as an excellent option for advanced traders in Norway who prefer complex trading software and seek comprehensive market access with competitive pricing.
Unique Features
📝 Regulation SEC, CFTC, FCA, SEBI ✴️ Finanstilsynet
regulation?No 📱 Social Media Platforms Facebook, Twitter, YouTube, LinkedIn 🔎 Trading Accounts Individual, Joint, Trust, IRA, Non-Professional Advisor, Family Office, Advisor, Advisor Client (including Non-Professional Advisor and Family Office), Broker Client, EmployeeTrack 💻 Trading Platforms IBKR 💸 Minimum Deposit No minimum deposit requirement 🔁 Trading Assets Global stocks, options, futures, currencies, cryptocurrencies 🚀 NOK-based Account? No 💳 NOK Deposits Allowed? Yes 💰 Bonuses for traders? Yes 📊 Minimum spread From 0.0 pips ✔️ Demo Account Yes ✔️ Islamic Account No 🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Trading professionals can successfully diversify their investment portfolios across different asset classes by using Interactive Brokers to facilitate access to a wide range of global markets, including equities, bonds, futures, currencies, and options. | It might be difficult for inexperienced traders to understand and use Interactive Brokers' sophisticated trading platforms and tools. |
| A wide range of analytical and execution tools are available to traders via Interactive Brokers trading platforms, including Trader Workstation (TWS) and IBKR Mobile, to improve their ability to make decisions. | Despite its low costs, Interactive Brokers' fee structures may be confusing to some traders due to the variable rates charged for various services and account kinds. |
| Interactive Brokers offers reasonable commission rates and transparent pricing structures to active traders, particularly those with large trading volumes, potentially lowering overall trading costs. | Some account types at Interactive Brokers have greater minimum balance requirements than those of competitors, which can make it more difficult for traders with lower balances to gain access. |
| Interactive Brokers provides traders with an abundance of research and analytical tools, such as fundamental data, technical analysis, and market commentary, enabling them to make well-informed investing decisions. | In contrast to smaller brokerage firms, some traders may feel that Interactive Brokers' customer service is less personalized or responsive, even if the company offers phone, email, and live chat help. |
| To help traders successfully manage and mitigate the risks associated with their transactions, Interactive Brokers offers sophisticated risk management capabilities such as portfolio margining, risk-based margining, and real-time margin computations. | The tutorials and other educational resources offered by Interactive Brokers may be somewhat scarce, which leads inexperienced traders to look for more help and education elsewhere. |
Trust Score
Interactive Brokers has a trust score of 95%
3. Saxo Bank
Saxo Bank emerges as an excellent option for traders in Norway seeking diversification and sophistication on their trading platform.
Renowned for its comprehensive range of investment products, Saxo Bank provides access to global markets, including stocks, bonds, ETFs, forex, options, futures, and commodities, enabling Norwegian traders to build diversified portfolios tailored to their preferences and risk profiles.
The broker offers a sophisticated trading platform, SaxoTraderGO, equipped with advanced charting tools, research resources, and risk management features, empowering traders to execute complex strategies with ease and precision. Additionally, Saxo Bank’s platform is user-friendly, making it accessible to traders of all levels in Norway.
They provide competitive pricing and transparent fees, enhancing the attractiveness of its platform for Norwegian traders.
With its comprehensive offering, advanced technology, and commitment to transparency, Saxo Bank stands out as an ideal choice for traders in Norway looking to diversify their investments on a sophisticated trading platform.
Unique Features
📝 Regulation Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA ✴️ Finanstilsynet regulation? No 📱 Social Media Platforms Facebook, Twitter, YouTube, Instagram 🔎 Trading Accounts Saxo Account, Joint Account, Corporate Account, Professional 💻 Trading Platforms SaxoTraderGO, SaxoTraderPro 💸 Minimum Deposit No minimum deposit requirement 🔁 Trading Assets Stocks, ETFs, Bonds, Mutual funds, Crypto ETPs 🚀 NOK-based Account? Yes 💳 NOK Deposits Allowed? Yes 💰 Bonuses for traders? No 📊 Minimum spread From 0.0 pips ✔️ Demo Account Yes ✔️ Islamic Account No 🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Trading options can be diversified by traders thanks to Saxo Bank's extensive variety of currency pairs, commodities, indices, and other asset classes. | Although Saxo Bank has low spreads, its complicated pricing structure with several fees and levies could make trading more expensive for traders. |
| With features like customizable layouts, smooth execution, and extensive charting capabilities, the broker's main platform, SaxoTraderGO, enables traders to successfully implement their ideas. | For traders searching for Sharia-compliant trading solutions, Saxo Bank might offer fewer options for Islamic trading accounts. |
| An established and globally renowned broker, Saxo Bank offers traders piece of mind due to its transparency, trustworthiness, and adherence to regulatory standards. | Even though the service is available in multiple languages, time zone differences may limit traders' access to customer support during non-standard trading hours. |
| To assist traders in advancing their understanding and proficiency in forex trading, Saxo Bank provides a multitude of educational resources, including webinars, publications, and trading advice. |
Trust Score
Saxo Bank has a high trust score of 96%
4. XTB
XTB represents an appealing option for Norwegian traders seeking an affordable broker with a low minimum deposit requirement. With its competitive pricing structure and commitment to transparency, XTB offers a cost-effective solution for traders looking to enter the financial markets without significant upfront investment.
The broker provides access to a wide range of financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies, enabling Norwegian traders to diversify their portfolios according to their preferences and risk appetite.
Their user-friendly trading platforms offer intuitive interfaces and advanced analytical tools, catering to traders of all experience levels in Norway.
XTB’s emphasis on education and research resources empowers traders to make informed decisions and enhance their trading skills.
Overall, XTB’s combination of affordability, accessibility, and comprehensive offerings make it a compelling choice for Norwegian traders seeking a broker with a low minimum deposit requirement.
Unique Features
📝 Regulation FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, IFSC ✴️ Finanstilsynet regulation? No 📱 Social Media Platforms Facebook, Twitter, YouTube, LinkedIn 🔎 Trading Accounts Standard Account, Swap-free Account, Islamic Account, Professional Account 💻 Trading Platforms xStation 5, xStation Mobile 💸 Minimum Deposit No minimum deposit requirement 🔁 Trading Assets Forex, Indices, Commodities, Stock CFDs, ETF CFDs, Cryptocurrencies 🚀 NOK-based Account? No 💳 NOK Deposits Allowed? No 💰 Bonuses for traders? Yes 📊 Minimum spread From 0.5 pips ✔️ Demo Account Yes ✔️ Islamic Account Yes 🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Renowned for its technological innovation, XTB provides a user-friendly platform with excellent charting capabilities and thorough market analysis. | A thorough examination of the pricing structure is necessary since it contains several costs that traders may find perplexing, such as spreads and overnight funding. |
| XTB is committed to openness and offers traders clear pricing. | There might be a learning curve for certain traders even with the straightforward design, particularly when using the more advanced features and tools. |
| Commodities, indexes, primary and exotic currency pairs, and other financial products are just a few of the many options that XTB offers traders. | If XTB doesn't have any physical offices around the globe, it might be more difficult for it to personally help traders in need. |
| Support that is tailored to the traders' needs enables effective communication and assistance in their native tongue. | |
| XTB places a strong focus on education and gives traders the resources and market information they need to advance as competent and informed traders. |
Trust Score
XTB has a trust score of 95%
5. AvaTrade
AvaTrade stands out as an excellent option for Norwegian traders seeking comprehensive educational materials and analytical features. The platform offers an extensive range of educational resources, including tutorials, webinars, articles, and video courses, catering to traders of all levels of experience.
These materials empower Norwegian traders to deepen their understanding of the financial markets and develop their trading skills effectively.
The broker provides comprehensive analytical features within its trading platforms, including advanced charting tools, technical indicators, and market analysis. These features enable Norwegian traders to conduct thorough market research, perform technical analysis, and make informed trading decisions with confidence.
AvaTrade’s user-friendly interface ensures accessibility for traders in Norway, while its commitment to customer support enhances the trading experience.
Overall, AvaTrade‘s combination of educational resources and analytical features makes it a compelling option for Norwegian traders seeking to enhance their trading knowledge and skills.
Unique Features
📝 Regulation Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA ✴️ Finanstilsynet regulation? Yes 📱 Social Media Platforms Facebook, Twitter, YouTube, LinkedIn 🔎 Trading Accounts Retail Account, Professional Account 💻 Trading Platforms AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade 💸 Minimum Deposit NOK1,055.01 or $100 🔁 Trading Assets Forex, Stocks, Commodities, Cryptocurrencies, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Contracts for Difference (CFDs), Precious Metals 🚀 NOK-based Account? No 💳 NOK Deposits Allowed? No 💰 Bonuses for traders? Yes 📊 Minimum spread From 0.0 pips ✔️ Demo Account Yes ✔️ Islamic Account Yes 🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade has a special risk management tool called AvaProtect that gives traders piece of mind by shielding their trades from unfavorable market fluctuations for a predetermined amount of time. | The spreads offered by AvaTrade might be a little greater than those of some other brokers, which could result in increased trading expenses for investors. |
| With a wide array of trading options, AvaTrade gives users access to a variety of financial products, such as stocks, commodities, FX, cryptocurrencies, and more. | The lack of detailed training materials from AvaTrade compared to some of its rivals may make learning more difficult for inexperienced traders. |
| AvaTradeGO is an easy-to-use mobile trading app that increases traders' flexibility by giving them access to trading tools, market analysis, and real-time updates while they're on the go. | AvaTrade may charge inactivity fees to traders who do not trade frequently on accounts that are left idle for an extended length of time. |
| The copy trading feature of AvaTrade's platform enables traders to automatically mimic the transactions of seasoned investors, supporting passive investment techniques. | Although AvaTrade allows users to trade cryptocurrencies, it may not have as large of a selection as more specialist cryptocurrency exchanges. |
| To promote a cooperative trading community, AvaTrade provides AvaSocial, a social trading platform where traders may communicate, exchange trading ideas, and follow successful traders. | When compared to some other brokers, AvaTrade's platform customization capabilities might be more restrictive, which could limit the freedom of expert traders who want more adjustable trading environments. |
Trust Score
AvaTrade has a high trust score of 96%
6. HFM
HFM is a good option for Norwegian traders seeking a comprehensive mobile trading app. The platform provides a robust and user-friendly mobile application, ensuring accessibility and convenience for traders who prefer to manage their investments on the go.
The mobile app is equipped with advanced trading features, including real-time quotes, interactive charts, technical analysis tools, and order management capabilities, empowering Norwegian traders to execute trades swiftly and efficiently from their mobile devices.
HFM’s mobile app provides seamless integration with desktop and web platforms, allowing traders in Norway to transition between devices seamlessly. The platform’s commitment to user experience is evident through its intuitive interface and responsive customer support, enhancing the overall trading experience for Norwegian traders.
Overall, HFM’s comprehensive mobile trading app caters to the needs of traders in Norway by offering flexibility, functionality, and reliability for managing investments anytime and anywhere.
Unique Features
📝 Regulation FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA ✴️ Finanstilsynet regulation? No 📱 Social Media Platforms Facebook, Twitter, Telegram, Instagram, YouTube, LinkedIn 🔎 Trading Accounts Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account 💻 Trading Platforms MetaTrader 4 and MetaTrader 5 💸 Minimum Deposit No minimum deposit requirement 🔁 Trading Assets Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs 🚀 NOK-based Account? No 💳 NOK Deposits Allowed? No 💰 Bonuses for traders? Yes 📊 Minimum spread From 0.0 pips ✔️ Demo Account Yes ✔️ Islamic Account Yes 🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| HFM is advantageous to traders because it offers protection against negative balances and a maximum leverage of 1:2000. | Due to the extensive feature set of the MT4 and MT5 platforms, novice traders may need to invest a considerable amount of time in their education. |
| HFM traders benefit from zero-pip spreads and competitive commissions. | Probably, HFM's bonuses aren't as good as those of its rivals. |
| Traders can choose MetaTrader 4 or 5 according to the kind of account and the device they use. | Offering a large degree of leverage could be risky. |
| Apart from currency exchange, HFM provides a range of additional financial services. | Investors may look at other investing options like bonds and stocks if HFM insists on employing foreign currency and compound interest rates (CFDs). |
| HFM provides a wide range of account, instructional, and research categories to help users at all ability levels. | |
| Swap-free accounts, or Sharia-compliant accounts, are available to Muslims who trade. |
Trust Score
HFM has a trust score of 85%
Conclusion
Overall, trading Forex in Norway using international Forex brokers offers diverse opportunities for Norwegian traders to engage in the global financial markets. With access to advanced platforms, comprehensive tools, and competitive pricing, these brokers provide avenues for Norwegian traders to pursue their investment goals effectively and efficiently.
Frequently Asked Questions
How can I choose a reliable international Forex broker in Norway?
Look for brokers regulated by reputable authorities, check for competitive spreads and fees, evaluate the trading platform’s features and usability, and consider reviews and recommendations from other traders.
What are the common mistakes to avoid for beginner Forex traders in Norway?
Common mistakes include overleveraging, lack of risk management, emotional trading, neglecting proper education and research, and failing to adhere to a trading plan.
What are the major currency pairs that Norwegian traders should focus on?
Major currency pairs like EUR/USD, USD/JPY, GBP/USD, and USD/CHF are commonly traded by Norwegian traders due to their liquidity and popularity.
What are the best trading strategies for beginners in Forex trading in Norway?
Strategies like trend following, range trading, breakout trading, and fundamental analysis can be suitable for beginners, but it’s essential to choose a strategy that aligns with your personality and risk tolerance.
Can I use leverage while trading Forex in Norway?
Yes, many brokers offer leverage, but beginners should use it cautiously and understand the risks involved. It’s crucial to only use leverage with proper risk management and avoid overexposure.
Top 4 Brokers
