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6 Best Forex Brokers in Sweden

Last Update: June 26th, 2024

Best Forex Brokers in Sweden

 

The 6 best Forex brokers in Sweden 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 Sweden? 
  • Who are the Best Suited Brokers for Beginner Sweden Traders?
  • Pros and cons of each broker. 
  • Popular FAQs about the best Forex brokers in Sweden 
  • What are some common Forex trading strategies recommended for beginners? 

 

And lots more… 

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

Let’s dive right in… 

 

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 >>

 

What is a Forex broker in Sweden? 

Forex brokers catering to Swedish traders offer a seamless trading experience, ensuring compliance with local regulations and language preferences. These brokers provide access to global currency markets, offering Swedish traders a diverse range of currency pairs to trade, along with localized customer support and convenient payment options. 

 

Best Forex Brokers in Sweden – Comparison

👥 Brokers👉 Open Account💰 Minimum Deposit⚖️ Regulators📈 Minimum Spread
1. AvaTrade Open AccountSEK 1,027.18 or USD100Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISAFrom 0.0 pips
2. eToroOpen AccountSEK513.35 or $50CySEC, FCAFrom 0.9 pips
3. PepperstoneOpen AccountEquivalent to AU$200ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCBFrom 0.0 pips
4. Plus500Open AccountSEK 1,027.18 or USD100CySEC, FCA, MAS, FSA, ASIC, FMA, FSCAFrom 0.0 pips
5. XMOpen AccountSEK 51.40 or $5FSCA, IFSC, ASIC, CySEC, DFSAFrom 0.0 pips
6. Saxo Bank Open AccountThere is no specific minimum deposit requiredCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISAFrom 0.0 pips

 

6 Best Forex Brokers in Sweden (2024*)

  1. ✔️AvaTrade – Overall Best Forex Broker in Sweden
  2. ✔️eToro – Provides Educational Resources for Sweden Traders
  3. ✔️Pepperstone – Offers a Wide selection of instruments
  4. ✔️Plus500 – Provides Educational Resources
  5. ✔️XM – Best Nasdaq 100 Forex Broker for Sweden Traders
  6. ✔️Saxo Bank – Authorized By Several Reputable Market Regulators

 

1. AvaTrade 

AvaTrade presents a compelling option for intermediate traders in Sweden due to its comprehensive range of features tailored to support their evolving needs.  

 

With access to a diverse selection of currency pairs, commodities, and other assets, intermediate traders can effectively diversify their portfolios and explore new trading opportunities. AvaTrade‘s user-friendly platforms and educational resources also offer valuable support for traders seeking to refine their strategies and deepen their understanding of the markets.  

 

AvaTrade - Forex Brokers in Sweden

 

AvaTrade’s competitive spreads and advanced trading tools cater to the demands of active trading, allowing intermediate traders to execute trades efficiently and capitalize on market movements. 

 

Furthermore, AvaTrade’s regulatory compliance and commitment to customer service provide Swedish traders with a trustworthy and reliable trading environment, fostering confidence and peace of mind as they navigate the complexities of the financial markets. 

 

Unique Features

📝 RegulationCentral Bank of Japan (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
✴️ FSA regulation?No
📱 Social Media PlatformsTwitter, Facebook, YouTube, Instagram
🔎 Trading AccountsRetail Account, Professional Account
💻 Trading PlatformsAvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💸 Minimum DepositSEK 1,027.18 or USD100
🔁 Trading AssetsForex, Stocks, Commodities, Cryptocurrencies, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Contracts for Difference (CFDs), Precious Metals
🚀 SEK-based Account?No
💳 SEK Deposits Allowed?No
💰 Bonuses for traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎖 Open an AccountOpen Account

 

Pros and Cons

✔️ Pros❌ Cons
AvaTrade provides clients with a wide array of trading instruments to assist them in constructing diversified investment portfolios. These instruments comprise equities, indices, cryptocurrencies, commodities, and FX pairings.Spreads on AvaTrade may be more expensive than those of competing brokers, particularly for aggressive traders, resulting in increased trading expenses.
Through facilitating the examination and replication of successful traders' strategies, the integration of ZuluTrade and AvaTrade optimizes the process of social trading.A limited selection of research and analytical instruments is provided by the platform, potentially discouraging some traders from conducting comprehensive market research.
AvaSocial and AvaTradeGo accelerate social and mobile trading, respectively, whereas AvaProtect offers enhanced technical analysis and charting.Novice traders might encounter challenges in comprehending and capitalizing on the complete array of features and opportunities that are accessible on the platform.
To ensure a secure and stable trading environment for its clientele, AvaTrade adheres to regulations established by regulatory bodies including the Financial Services Commission of the British Virgin Islands and the Central Bank of Japan.
AvaTrade furnishes its traders with an extensive assortment of educational resources, such as seminars, webinars, and market research, with the collective objective of augmenting their comprehension of the market.

 

Trust Score

AvaTrade has a high trust score of 96% 

 

2. eToro 

eToro presents an attractive option for passive investors in Sweden due to its innovative CopyPortfolio feature and diverse range of investment opportunities.  

 

Passive investors can benefit from eToro‘s CopyPortfolios, which are professionally managed portfolios composed of various assets, providing a hands-off approach to investing while still offering the potential for attractive returns. 

 

Additionally, eToro’s social trading platform allows passive investors to follow and replicate the strategies of successful traders, enabling them to leverage the expertise of others without the need for active involvement in market analysis or decision-making. 

 

eToro - Forex Brokers in Sweden

 

eToro offers access to a wide range of asset classes, including stocks, cryptocurrencies, and ETFs, allowing passive investors to build a diversified portfolio suited to their risk tolerance and investment goals. 

 

Overall, eToro’s user-friendly interface, social trading features, and diverse investment options make it an appealing choice for passive investors in Sweden seeking a simple yet effective way to grow their wealth over time. 

 

Unique Features

📝 RegulationCySEC, FCA
✴️ FSA
regulation?
No
📱 Social Media PlatformsFacebook, Twitter, YouTube, LinkedIn, Instagram, Telegram
🔎 Trading AccountsPersonal Account, Professional Account, Corporate Account, Islamic Account
💻 Trading PlatformseToro proprietary platform
💸 Minimum DepositSEK513.35 or $50
🔁 Trading AssetsStocks, Indices, ETFs, Currencies, Commodities, Cryptoassets
🚀 SEK-based Account?No
💳 SEK Deposits Allowed?Yes
💰 Bonuses for traders?Yes
📊 Minimum spreadFrom 0.9 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎖 Open an AccountOpen Account

 

Pros and Cons

✔️ Pros❌ Cons
By allowing users to interact with and emulate the strategies employed by accomplished investors, eToro's innovative social trading platform has the potential to enhance learning and, consequently, trading performance.In comparison to alternative platforms, eToro offers a relatively restricted selection of research instruments, potentially impeding traders' ability to conduct comprehensive analyses.
eToro provides access to a diverse array of assets, including equities, cryptocurrencies, commodities, and FX pairings.Despite providing inexpensive spreads, eToro's fees may be marginally higher than those of competing brokers.
eToro is feasible for traders of all levels of expertise, including novices, due to its user-friendly interface.The limited capability of eToro's charting tools in comparison to other brokers hinders traders' capacity to conduct technical analysis.
CopyPortfolios, which are diversified investment portfolios managed by professionals and provided by eToro, enable traders to invest in a multitude of assets with a single click.Traders could potentially experience negative consequences due to the low withdrawal limits and withdrawal costs offered by eToro.

 

Trust Score

eToro has a trust score of 90%  

 

3. Pepperstone 

Overall, Pepperstone stands out as an excellent option for scalpers in Sweden due to its optimal trading conditions tailored to this trading style. The broker offers exceptionally tight spreads and lightning-fast execution speeds, essential for scalpers aiming to capitalize on small price movements within short timeframes. 

 

They provide access to a variety of advanced trading platforms equipped with cutting-edge charting tools and technical indicators, empowering scalpers to make quick and informed trading decisions.  

 

Pepperstone - Forex Brokers in Sweden

 

Furthermore, the broker’s low latency and high liquidity ensure minimal slippage, enhancing the efficiency and profitability of scalping strategies.  

 

With its commitment to offering a conducive environment for high-frequency trading, the broker emerges as a top choice for scalpers in Sweden seeking a reliable and technologically advanced brokerage partner to execute their trading strategies with precision and agility. 

 

Unique Features

📝 RegulationASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
✴️ FSA regulation?No
📱 Social Media PlatformsLinkedIn, Twitter, Facebook, YouTube
🔎 Trading AccountsStandard Account, Razor Account, Professional Account, Demo Account, Islamic Account
💻 Trading PlatformsMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, Duplitrade
💸 Minimum DepositEquivalent to AU$200
🔁 Trading AssetsForex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options
🚀 SEK-based Account?No
💳 SEK Deposits Allowed?No
💰 Bonuses for traders?No
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎖 Open an AccountOpen Account

 

Pros and Cons

✔️ Pros❌ Cons
Pepperstone provides traders with competitive spreads, commencing at 0.0 pips, which facilitates the execution of transactions at reduced expenses.In comparison to other brokers, Pepperstone's account categories may be relatively limited, which could restrict the options available to traders with particular requirements.
The broker guarantees prompt order execution, which reduces slippage and improves the overall efficacy of trading.Despite the sophisticated features provided by MetaTrader platforms, traders who favour alternative trading platforms may discover that their options are somewhat restricted.
Pepperstone grants users access to an extensive array of financial instruments, encompassing indices, cryptocurrencies, forex, and commodities, thereby presenting abundant prospects for trading.Although Pepperstone provides an extensive selection of trading instruments, certain niche assets or markets may be inaccessible to certain traders via this broker.
Traders have access to the MetaTrader 4 and MetaTrader 5 platforms, which are renowned worldwide for their advanced functionalities, adaptable user interfaces, and automated trading capabilities.
Pepperstone ensures the protection of client funds and maintains a secure trading environment through strict adherence to regulatory standards.

 

Trust Score

Pepperstone has a high trust score of 92%  

 

4. Plus500 

Plus500 is a popular online broker offering a straightforward trading experience, including access to gold trading opportunities.  

 

Traders on the platform can engage in trading through various instruments such as gold CFDs (Contracts for Difference), allowing speculation on gold’s price movements without owning the underlying asset. These instruments offer flexible trading opportunities for investors seeking exposure to gold’s price fluctuations. 

 

Specific features tailored to gold traders on the broker include real-time price quotes, customizable charting tools, and technical indicators for analyzing gold’s performance.  

 

Plus500

 

They also provide risk management tools such as stop-loss and take-profit orders, allowing traders to manage their positions effectively.  

 

With a user-friendly interface accessible via desktop and mobile devices, they ensure seamless access to trading opportunities, coupled with competitive spreads and leverage options.  

 

Overall, the broker offers a streamlined trading experience for gold enthusiasts, supported by essential features for informed decision-making.

 

Unique Features

📝 RegulationCySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
✴️ FSA RegulationNo
📱 Social Media PlatformsFacebook, Twitter, Telegram, Instagram, YouTube, LinkedIn
🔎 Trading AccountsRetail trading account
💻 Trading PlatformsWebTrader
💸 Minimum DepositSEK 1,027.18 or USD100
🔁 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
🚀 SEK-based Account?No
💳 SEK Deposits Allowed?No
💰 Bonuses for traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎖 Open an AccountOpen Account

 

Pros and Cons

✔️ Pros❌ Cons
Plus500 furnishes its clients with individualized, feature-loaded trading platforms that efficiently facilitate the customization and implementation of trading strategies.Despite its user-friendly interface, Plus500 lacks comprehensive educational resources, thereby impeding traders' capacity to enhance their knowledge and comprehension
A wide array of financial instruments, such as indices, equities, FX pairs, commodities, and cryptocurrencies, are readily available to traders. This diversity generates an abundance of trading opportunities.Plus500, when compared to its rivals, may offer a comparatively restricted array of market analysis resources and research tools. This limitation may pose a disadvantage for traders who heavily rely on such data to formulate informed decisions.
Plus500 equips its users with comprehensive charting tools, customizable price alerts, and sophisticated trading functionalities including guaranteed stop orders, thereby granting them increased control and analysis capabilities.Plus500 imposes inactivity fees on accounts that remain dormant, potentially leading to penalties for traders who refrain from engaging in regular trading activities.
Plus500, an organization overseen by esteemed financial regulatory bodies such as the FCA, ASIC, and CySEC, ensures the safeguarding of traders' assets, thus cultivating user assurance and serenity.While live chat and email support options are available, the absence of phone assistance, especially during critical situations, may irritate some traders and negatively impact their overall experience on the platform.

 

Trust Score

Plus500 has a trust score of 85% 

 

5. XM 

XM presents an appealing option for beginner traders in Sweden due to its user-friendly platform and extensive educational resources tailored to support novice traders.  

 

Their intuitive interface makes it easy for beginners to navigate the platform, execute trades, and manage their accounts efficiently.  

 

XM

 

Additionally, they offer a wealth of educational materials, including articles, tutorials, webinars, and video courses, covering essential topics such as trading basics, technical analysis, and risk management. These resources empower beginner traders to acquire the knowledge and skills necessary to navigate the financial markets with confidence.  

 

The broker provides a demo account option, allowing beginners to practice trading in a risk-free environment before transitioning to live trading with real money.  

 

Moreover, with competitive trading conditions, responsive customer support, and a focus on user experience, XM creates a supportive environment for beginner traders in Sweden to embark on their trading journey successfully. 

 

Unique Features

📝 RegulationFSCA, IFSC, ASIC, CySEC, DFSA
✴️ FSA regulation?No
📱 Social Media PlatformsFacebook, Twitter, YouTube, LinkedIn, Instagram
🔎 Trading AccountsMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
💻 Trading PlatformsMetaTrader 4, MetaTrader 5, XM Mobile App
💸 Minimum DepositSEK 51.40 or $5
🔁 Trading AssetsForex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares
🚀 SEK-based Account?No
💳 SEK Deposits Allowed?No
💰 Bonuses for traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎖 Open an AccountOpen Account

 

Pros and Cons

✔️ Pros❌ Cons
Internationally renowned forex broker XM provides its clients with an extensive selection of trading opportunities on foreign exchanges.Due to XM's comparatively limited selection of cryptocurrencies in contrast to its rivals, traders in pursuit of a more extensive array of crypto assets might encounter difficulties in locating the desired items.
XM's cent account enables novice traders to commence trading activities with minimal capital and a substantial reduction in risk exposure.Inactive account penalties present a challenge for traders who engage in infrequent trading activities.
The competitive margins of XM's platform afford traders enhanced profitability and cost efficiency.In volatile market conditions, the fluctuating spreads of XM may appear to be more pronounced, which could have an impact on the cost estimates made by traders.
XM furnishes traders with an abundance of educational resources, such as seminars and webinars, to aid in the development of their trading abilities.Unlike some of its competitors, XM's deposit bonuses are not always fixed; therefore, traders seeking additional benefits may be deterred.
XM offers exceptional multilingual customer service.The cost structures of the numerous account types provided by XM are diverse, potentially leading to perplexity and apprehension among certain traders.
By offering a wide variety of financial assets, including commodities, indices, cryptocurrencies, and currencies, XM assists its clients in constructing broad trading portfolios.XM's enforcement activities and regulatory modifications may impose limitations on traders who employ high-leverage strategies.

 

Trust Score

XM has a high trust score of 90%

 

6. Saxo Bank 

Overall, Saxo Bank stands out as a premier option for professional traders and investors in Sweden due to its extensive range of sophisticated trading tools, diverse investment options, and professional-grade services.  

 

Moreover, the bank offers direct market access (DMA) and institutional-grade liquidity, allowing professional traders to execute large orders with minimal slippage and maximum precision.

 

Additionally, Saxo Bank provides access to a wide range of financial instruments, including stocks, bonds, forex, options, futures, and commodities, enabling investors to build diversified portfolios tailored to their specific investment objectives and risk tolerance.  

 

Saxo Bank 

 

Saxo Bank’s comprehensive research and analysis tools, along with personalized support from dedicated account managers, empower professional traders and investors to make informed decisions and navigate the financial markets effectively.  

 

Moreover, with its reputation for reliability, transparency, and innovation, Saxo Bank remains a trusted partner for professional traders and investors seeking a sophisticated and comprehensive trading platform in Sweden. 

 

Unique Features

📝 RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
✴️ FSA regulation?No
📱 Social Media PlatformsFacebook, Twitter, YouTube, Instagram
🔎 Trading AccountsSaxo Account, Joint Account, Corporate Account, Professional
💻 Trading PlatformsSaxoTraderGO, SaxoTraderPro
💸 Minimum DepositNo minimum deposit requirement
🔁 Trading AssetsStocks, ETFs, Bonds, Mutual funds, Crypto ETPs
🚀 SEK-based Account?No
💳 SEK Deposits Allowed?No
💰 Bonuses for traders?No
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountNo
🎖 Open an AccountOpen Account

 

Pros and Cons

✔️ Pros❌ Cons
Saxo Bank provides traders with extensive access to a wide range of asset classes, currency combinations, commodities, and indices, thus facilitating the diversification of their trading prospects.While Saxo Bank does offer competitive spreads, its fee structure is complex, comprising various charges and commissions that could potentially lead to escalated trading costs for clients.
The primary platform utilized by the broker, SaxoTraderGO, offers advanced charting capabilities, customizable arrangements, and seamless execution. These features empower traders to effectively execute their strategies.Saxo Bank's potential deficiency in offering comprehensive Islamic trading account options could potentially hinder traders seeking Sharia-compliant trading solutions.
Saxo Bank is a globally recognized and well-established brokerage that provides traders with confidence in its transparency, accountability, and adherence to regulatory standards.Despite offering multilingual support, traders may face difficulties in contacting customer service during non-standard trading hours as a result of time zone differences.
Saxo Bank provides traders with a comprehensive assortment of educational materials, including articles, webinars, and trading manuals, to aid in the development of their proficiency in foreign exchange trading.

 

Trust Score

Saxo Bank has a high trust score of 96% 

 

Forex Brokers in Sweden

 

Conclusion

Overall, Forex trading in Sweden with international brokers offers Swedish traders diverse opportunities and access to global markets. Additionally, with reputable platforms catering to various trading styles and preferences, traders can engage in Forex activities confidently. 

FAQs

Common strategies for beginners include trend following, range trading, and breakout trading. It’s essential to understand the basics of these strategies and practice them on a demo account before applying them with real money. 

The amount of capital needed varies depending on individual risk tolerance and trading style.

Forex trading requires access to the interbank market, which is facilitated through brokers. While it’s possible to trade Forex independently, using a broker provides access to liquidity and trading platforms necessary for executing trades.

It is advisable to utilize stop-loss orders, diversify your portfolio, refrain from over-leveraging, and limit the risk to a small percentage of your capital for each trade. Additionally, continuously educating yourself and staying disciplined are crucial for managing risk effectively. 

You can stay updated by following financial news websites, subscribing to market analysis newsletters, using economic calendars, and participating in online communities. Many brokers also offer daily market analysis and research reports.

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