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6 Best Forex Brokers in Portugal

Edited by: Louis Schoeman

 

Best Forex Brokers in Portugal

 

The 6 best Forex brokers in Portugal revealed. We have explored and tested several prominent brokers and Forex exchange to identify the 6 best broker for beginner, intermediate and expert Portuguese traders. Euro based accounts and deposits assist easy trading in Portugal.

 

In this in-depth guide you’ll learn:

  • What is a Forex broker for Portuguese traders ?
  • Who are the best brokers in Portugal in Europe?
  • Pros and cons of each broker on our list?
  • Popular FAQs about the best Forex brokers in Portugal.
  • Is Forex trading taxed in Portugal?

 

And lots more…

So, if you’re ready to go “all in” with 6 best Forex brokers in Portugal

Let’s dive right in…

 

🏆 10 Best Forex Brokers

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker
🥈Read ReviewFSCA, IFSC, ASIC, CySEC, DFSA, FCAUSD 5Visit Broker
🥉Read ReviewFCA, FSCA, FSC, CMAUSD 10Visit Broker
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker
5Read ReviewFSC, FSA, VFSCUSD 10Visit 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

 

6 Best Forex Brokers in Portugal (2024*)

  1. ☑️ Pepperstone – Overall, Best Reliable and accessible choice in Portugal.
  2. ☑️ Interactive Brokers– a user-friendly interface with advanced charting tools.
  3. ☑️ FP Markets – is renowned for its extensive experience and reputation in the trading industry.
  4. ☑️ Plus500excellent choice for mobile traders in Portugal due to its mobile app.
  5. ☑️ eToro  – regulated status, and commission-free trading on stocks and ETFs in Portugal.
  6. ☑️ AvaTrade – AvaTradeGO app provides a seamless and intuitive trading experience.

 

What is a Forex broker for traders in Portugal?

 

Forex brokers catering to Portuguese traders offer comprehensive trading services, including currency pairs, commodities, and indices.

 

These brokers adhere to regulatory standards, providing secure trading platforms and multilingual customer support. They offer competitive spreads, leverage options, and educational resources, ensuring Portuguese traders access efficient and reliable trading environments.

 

The 6 Best Forex Brokers in Portugal

🔎Broker Name👉 Open Account💰 Minimum Deposits⚖️ Regulators✔️ Accepts New Portugal Traders
Pepperstone👉 Open AccountEquivalent to AU$200ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB✔️
Interactive Brokers👉 Open AccountThere is no specific minimum deposit requiredSEC, CFTC, FCA, IIROC✔️
FP Markets👉 Open AccountEUR92.55 or $100ASIC, CySEC, FSCA, FSA, FSC✔️
Plus500👉 Open AccountEUR92.55 or $100CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA✔️
eToro👉 Open AccountEUR 46.25 or $50CySEC, FCA✔️
AvaTrade👉 Open AccountEUR92.55 or $100Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC✔️

 

Pepperstone

 

Overview

Pepperstone extends favorable trading conditions to traders in Portugal. With tight spreads starting from as low as 0.0 pips and fast execution speeds, traders can engage in swift and cost-effective transactions.

 

They offer a diverse range of trading instruments, including currency pairs, commodities, indices, and cryptocurrencies, providing ample opportunities for portfolio diversification.

 

Traders in Portugal can access the globally recognized MetaTrader 4 and MetaTrader 5 platforms, renowned for their advanced charting tools, customizable interfaces, and automated trading capabilities.

 

Best Forex broxers in Portugal Pepperstone

 

Pepperstone ensures a secure trading environment through robust regulatory compliance and client fund protection measures.

 

With multilingual customer support and educational resources, including webinars and tutorials, Pepperstone empowers traders in Portugal to make informed decisions and navigate the complexities of the financial markets effectively, fostering a rewarding trading experience.

 

Unique Features

Feature Information
🏛️ RegulationASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
👉 Open Account👉 Open Account
📝 Regulation❌ No
📲 Social Media PlatformsLinkedIn
Facebook
Twitter
You Tube
💻 Trading AccountsStandard Account
Razor Account
Professional Account
Demo Account
Islamic Account
📊 Trading PlatformsMetaTrader 4
MetaTrader 5
cTrader
TradingView
Capitalise.ai
💰 Minimum DepositAU$200
📉 Trading AssetsForex
Indices
Shares
Commodities
Cryptocurrencies
ETFs
Currency Indices
EUR-based Account?✔️ Yes
EUR Deposits Allowed?✔️ Yes
➕ Bonuses for traders?❌ No
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
BaFin Regulation✔️ Yes

 

 

Pros and Cons

✔️ Pros ❌ Cons
MetaTrader 4, MetaTrader 5, and cTrader are available with PepperstoneThere are limited educational materials
Pepperstone offers straight-through processing without dealing with desk interventionIn-house analysis and trading signals could improve
Pepperstone's customer support is quick to respondWhile Pepperstone offers a diverse range of trading instruments, some traders may find that certain niche assets or markets are not available for trading through this broker.
Active traders can expect narrow spreads and competitive commissions

 

Trust Score

Pepperstone has a high trust score of 92%.

 

Interactive Brokers

 

Overview

Interactive Brokers (IB) presents Portuguese traders with an array of trading conditions and features. Renowned for its low-cost structure, IB offers competitive pricing with tight spreads and low commissions, enabling traders to execute trades efficiently.

 

The broker provides access to a vast selection of financial instruments, including stocks, options, futures, forex, and bonds, facilitating diversified investment strategies.

 

With its proprietary trading platform, Trader Workstation (TWS), IB furnishes advanced trading tools, customizable interfaces, and robust analytical capabilities, catering to both novice and experienced traders.

 

Interactive Brokers 6 Best Forex Brokers in Portugal

 

IB offers direct market access (DMA) and a wide range of order types, empowering traders to implement complex trading strategies with precision.

 

However, despite its comprehensive offerings, IB’s platform may have a steeper learning curve for beginners, and its account minimums might be prohibitive for some smaller traders. Nevertheless, for active traders seeking a sophisticated trading environment, IB remains a compelling choice in the Portuguese market.

 

Unique Features

Feature Information
🏛️ RegulationSEC, CFTC, FCA
👉 Open Account👉 Open Account
📝CMVM Regulation
❌ No
📲 Social Media PlatformsLinkedIn
Twitter
Facebook
YouTube
💻 Trading AccountsIndividual, Joint, Trust, IRA, Non-Professional Advisor, Family Office, Advisor, Advisor Client (including Non-Professional Advisor and Family Office), Broker Client, EmployeeTrack
📊 Trading PlatformsIBKR
💰 Minimum DepositNo specific minimum deposit required.
📉 Trading AssetsGlobal Stocks, options, futures, currencies, cryptocurrencies
EUR-based Account?✔️ Yes
EUR Deposits Allowed?✔️ Yes
➕ Bonuses for traders?❌ No
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
CFTC Regulated✔️ Yes

 

 

Pros and cons

 

✔️ Pros❌ Cons
Interactive Brokers offers a wide range of marketable assets and marketsA challenging platform with a steep learning curve
The Advanced Trader Workstation (TWS) platform is available to tradersDuring peak periods of activity, customer service may be less accessible
Competitive commission and margin ratesLow-balance accounts incur monthly inactivity penalties
Strong research and analysis tools
US traders can access worldwide marketplaces

 

Trust Score

Interactive Brokers has a trust score of 95%.

 

FP Markets

 

Overview

FP Markets provides Portuguese traders with favorable trading conditions and a comprehensive range of features. With competitive spreads starting from 0.0 pips and fast execution speeds, FP Markets ensures cost-effective and efficient trading.

 

Traders in Portugal can access a diverse array of financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies, allowing for ample trading opportunities across various markets. The broker offers multiple trading platforms, including MetaTrader 4 and MetaTrader 5, renowned for their advanced charting tools and customizable interfaces.

 

FP Markets

 

Additionally, FP Markets provides educational resources, market analysis, and research tools to assist traders in making informed decisions.

 

However, traders should be aware that while FP Markets is regulated, it may lack some of the stringent regulatory oversight of larger brokers, which could potentially pose risks. Overall, FP Markets presents a compelling option for Portuguese traders seeking a reliable and feature-rich trading experience.

 

Unique Features

Feature Information
🏛️ RegulationASIC, CySEC, FSCA, FCA and FSA
👉 Open Account👉 Open Account
📝 CMVM regulation?❌ No
📲 Social Media PlatformsLinkedIn
Facebook
Twitter
You Tube
💻 Trading AccountsMT4/5 Standard Account, an MT4/5 Raw Account, an MT4/5 Islamic Standard Account, and an MT 4/5 Islamic Raw Account
📊 Trading PlatformsMetaTrader 4
MetaTrader 5
cTrader
IRESS
FP Markets App
💰 Minimum DepositAU$100
📉 Trading AssetsForex Shares
Indices
Commodities
Cryptocurrencies
Bonds
ETFs
Bonuses for traders✔️ Yes
EUR-based Account?✔️ Yes
EUE Deposits Allowed? ❌No
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes

 

 

Pros and Cons

✔️ Pros ❌ Cons
The sophisticated technical infrastructure of FP Markets enhances efficiency and dependability while providing traders with a superior trading experience.There are limited cryptocurrency trading possibilities
Traders are granted the advantage of receiving extensive and well-informed customer support, which guarantees timely aid and resolution of inquiries.Beginners could benefit from more comprehensive educational materials
FP Markets, which is governed by a number of international agencies including the FSCA, CySEC, ASIC, FSA, and FSC, places a premium on regulatory compliance, thereby inspiring trader confidence.There are no forex-specific bonuses or promotional incentives
A wealth of educational resources are provided by FP Markets to assist traders in enhancing their trading expertise and knowledge.Customer support response time can be improved
In order to accommodate the varied trading preferences and demands of its clients, FP Markets provides an extensive selection of specialized account types.
FP Markets offers traders a wide range of trading platforms, including cTrader, MetaTrader, IRESS, and MetaTrader 5, which provide them with exhaustive tools for making informed decisions and extensive charting and analysis capabilities.
By capitalizing on its vast international market infrastructure, FP Markets empowers traders to tailor their trading approaches to a wide variety of asset classes.
The competitive spreads and low commission policies of FP Markets facilitate cost-effective trading, thereby reducing traders' expenditures

 

Trust Score

FP Markets has a high trust score of 87%.

 

Plus500

Overview

Plus500 stands out as an excellent choice for mobile traders in Portugal due to its user-friendly and feature-rich mobile trading app. The app provides traders with seamless access to the platform’s wide range of financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies, directly from their mobile devices.

 

Its intuitive interface and simplified trading process make it easy for traders to execute trades, monitor positions, and access real-time market data while on the go.

 

Plus500 6 Best Forex Brokers in Portugal

 

Plus500’s mobile app also offers advanced charting tools, customizable price alerts, and risk management features, empowering traders to make informed decisions efficiently from anywhere with an internet connection.

 

With its emphasis on convenience, functionality, and reliability, Plus500‘s mobile trading app caters perfectly to the needs of mobile traders in Portugal, allowing them to stay connected to the markets and seize trading opportunities at any time.

 

Unique Features

🏛️RegulationCySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
👉 Open Account👉 Open Account
🏛️ CMVM regulation?❌No
📱 Social Media PlatformsFacebook, Twitter, Telegram, Instagram, YouTube, LinkedIn
🔎 Trading AccountsRetail trading account
💻 Trading PlatformsWebTrader
💸 Minimum DepositCOP 391,864.00 to USD100
🔁 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
EUR-based Account?✔️Yes
EUR Deposits Allowed?✔️Yes
💰 Bonuses for traders?✔️Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo Account✔️Yes
✔️ Islamic Account✔️Yes

 

 

Pros and Cons

✅Pros❌Cons
The platform is user-friendlyThere are limited non-CFD instruments
Plus500 is compliant with all FCA limitPlatform customization is limited
There is negative balance protection appliedLacks basic research materials
Plus500 offers a wide variety of assets including Forex, stocks, indices, commodities, cryptocurrencies, and more, allowing traders to diversify their portfolios.While the platform is user-friendly, it may lack some advanced research and analysis tools compared to other brokers.
The trading platform provided by Plus500 is intuitive and easy to use, suitable for both beginners and experienced traders.Plus500's educational resources for traders, such as tutorials and webinars, may be less comprehensive compared to some other brokers.
Plus500 typically charges no commissions on trades, which can result in lower trading costs for users.Plus500 does not support the popular MetaTrader platform, which may be a drawback for traders who prefer using MetaTrader for their trading activities.
The platform offers tight spreads on various assets, helping traders to potentially maximize their profits.Customer support options with Plus500 may be limited compared to some other brokers, potentially leading to slower response times or less comprehensive assistance
Plus500 is regulated by reputable authorities such as the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC), providing traders with a sense of security and trust

 

Trust Score

Plus500 has a trust score of 85%.

 

eToro

 

Overview

eToro presents an excellent choice for beginner traders in Portugal owing to its user-friendly platform and comprehensive educational resources.

 

The platform’s intuitive interface simplifies the trading process, enabling novice traders to navigate the markets with ease.

 

eToro offers a variety of educational materials, including tutorials, webinars, and a demo account feature, allowing beginners to learn the basics of trading and practice their skills in a risk-free environment.

 

6 Best Forex Brokers in Portugal

 

Their unique social trading feature enables beginners to interact with and even copy the trades of more experienced investors, providing valuable insights and learning opportunities.

 

With its focus on accessibility, education, and community engagement, eToro empowers beginner traders in Portugal to embark on their trading journey with confidence and knowledge, laying a solid foundation for their future success in the financial markets.

 

Unique Features

Feature Information
🏛️ RegulationCySEC, FCA
👉 Open Account👉 Open Account
🏛️ CMVM regulation?❌No
📲 Social Media PlatformsFacebook
Twitter
LinkedIn
Youtube
Instagram
Telegram
💻 Trading AccountsPersonal Account
Professional Account
Corporate Account
Islamic Account
📊 Trading PlatformseToro proprietary platform
💰 Minimum Deposit$50
📉 Trading AssetsStocks.
Indices.
ETFs.
Currencies.
Commodities.
Crypto assets.
EUR-based Account?✔️ Yes
EUR Deposits Allowed?✔️ Yes
➕ Bonuses for traders?✔️ Yes
📈 Minimum spreadFrom 0.9 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes

 

 

Pros and Cons

✔️ Pros❌ Cons
Using eToro's cutting-edge social trading platform, new investors may quickly learn from experienced traders and even improve their tactics by seeing and duplicating successful investors' transactions.Although eToro offers certain basic research tools, such as news updates and market analysis, it may have fewer resources than other platforms, limiting advanced traders' capacity to conduct in-depth assessments.
eToro offers a wide range of trading instruments, allowing traders to diversify their portfolios on a single platform by selecting equities, cryptocurrencies, commodities, and currency pairs.eToro's cost structure includes spreads and overnight fees, which may be higher than those provided by other brokers. In addition, withdrawal and inactivity fees may apply in certain circumstances.
eToro's user-friendly design and straightforward platform make it appropriate for traders of all skill levels, including newbies.Compared to traditional trading platforms, social trading gives traders less control over their trades, while it can have some advantages. Users may rely heavily on the decisions of other traders, resulting in either wins or losses.
The platform's research capabilities and powerful charting features enhance trading even more.Because eToro is governed by various national laws, a user's location may limit access to specific features and products. Changes in rules or compliance standards have the potential to impact the platform's operations and products.
CopyPortfolios are different investment portfolios that are skillfully managed and conveniently accessible through eToro. This technology allows users to invest in an asset portfolio with a single click, making portfolio administration easier and saving time.

 

Trust Score

eToro has a trust score of 90%.

 

AvaTrade

 

Overview

AvaTrade presents an appealing option for CFD traders in Portugal due to its comprehensive range of tradable assets and competitive trading conditions.

 

With contracts for difference (CFDs) available on stocks, indices, commodities, and cryptocurrencies, AvaTrade offers ample opportunities for CFD traders to diversify their portfolios and capitalize on various market movements.

 

The broker provides competitive spreads, flexible leverage options, and advanced trading platforms such as MetaTrader 4 and AvaTradeGO, empowering traders to execute their strategies effectively.

 

AvaTrade

 

AvaTrade offers risk management tools, including stop-loss and take-profit orders, helping CFD traders in Portugal to manage their positions and mitigate potential losses.

 

With a strong emphasis on providing a reliable and user-friendly trading experience, combined with multilingual customer support and educational resources, AvaTrade stands out as a favorable choice for CFD traders seeking a trustworthy and feature-rich trading platform in Portugal.

 

Unique Features

📝 RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
👉 Open Account👉 Open Account
🏛️ CMVM Regulation✔️Yes
📱 Social Media PlatformsInstagram, Facebook, Twitter, YouTube
🔎 Trading AccountsRetail Account, Professional Account
💻 Trading PlatformsAvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💸 Minimum Deposit$100
🔁 Trading AssetsForex, Stocks, Commodities, Cryptocurrencies, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Contracts for Difference (CFDs), Precious Metals
🚀 EUR-based Account?✔️Yes
💳 EUR Deposits Allowed?✔️Yes
💰 Bonuses for traders?✔️Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo Account✔️Yes
✔️ Islamic Account✔️Yes

 

 

Pros and Cons

✔️ Pros❌ Cons
AvaTrade is multi-regulated globallyAvaTrade is not regulated in Nigeria
AvaTrade offers several robust trading platforms across deviceThere are no Nigerian CFDs that can be traded
Traders can access several educational materials and trading toolsInactivity fees apply to dormant accounts
AvaTrade charges fixed spreads and zero commissionsAvaTrade does not offer 24/7 customer support
Nigerians can participate in social trading with AvaTrade

 

Trust Score

AvaTrade has a high trust score of 96%.

 

Portugal

 

Conclusion

Our Final Thoughts on the 6 Best Forex Brokers in Portugal. Overall, selecting the best Forex broker in Portugal requires consideration of factors such as regulatory compliance, trading conditions, platform features, and customer support. Traders should assess their individual needs and preferences to find a broker that offers reliability, security, and the tools necessary for successful trading experiences.

 

Frequently Asked Questions

 

Is Forex trading legal in Portugal?

 

Yes, Forex trading is legal in Portugal. Traders can engage in Forex trading through regulated brokers.

 

Do I need a license to trade Forex in Portugal?

 

No, individual traders do not need a license to trade Forex in Portugal. However, it’s essential to choose a broker regulated by reputable authorities.

 

Can I use automated trading systems in Portugal?

 

Yes, traders in Portugal can use automated trading systems. Expert Advisors (EAs) can be utilised on MetaTrader platforms, to execute trades automatically based on predefined criteria.

 

Are there any risks associated with Forex trading in Portugal?

 

Yes, Forex trading carries inherent risks, including market volatility, leverage risk, and geopolitical factors. Traders should conduct thorough research and manage risks effectively.

 

Can I trade other financial instruments besides Forex in Portugal?

 

Yes, traders in Portugal can also trade other financial instruments. Traders can trade stocks, indices, commodities, and cryptocurrencies through Forex brokers offering such products.

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