Independent · Europe-first · Free
Know who holds your money before you trade.
A public register of 519 brokers, banks and trading apps that serve Europeans, checked against 69 regulators. See which licence protects you in your country and what happens if a firm fails, then use our calculators to trade with the risk rules the EU actually applies.
- EU clients
- CySEC RoboMarkets Ltd, Cyprus
- Compensation (EU)
- 90% up to €20,000 (Cyprus ICF)
- EU retail leverage
- Max 30:1 on majors
- Global entity
- FSC Belize RoboForex Ltd, Belize
- Platforms
- MetaTrader 4, MetaTrader 5, cTrader, R StocksTrader
- Markets
- Forex, CFDs, Stocks
Partner link. EU residents are directed to RoboMarkets (CySEC); RoboForex Ltd (Belize) offers no EU investor protections. CFDs are high-risk: most retail accounts lose money.
Before you deposit
Three checks that stop most losses to scams
Find the legal entity
Brands are not licensed; companies are. Look at the footer of the broker's site and the client agreement for the exact company name that would hold your money.
Match it on the official register
Search that company on the regulator's own register, not a link the broker gives you. Check the website domain listed there matches the one you are on. Clone firms copy real licence numbers.
Know your safety net
EU rules cap retail leverage, protect you from a negative balance and give you access to a compensation scheme and an ombudsman. Offshore entities give you none of these.
Our ranking
Top 5 forex brokers this month
We may earn a commission when you open an account through these links. Always check which company and licence would hold your account; it is shown on each line below. How we make money.
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Fusion Markets Partner
No EU/EEA licence on record – EU clients get no ESMA protections
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs.
By country
What protects you depends on where you live
AustriaFMA
BelgiumFSMA · NBB
BulgariaFSC
CroatiaHANFA
CyprusCySEC · Central Bank of Cyprus
CzechiaČNB
DenmarkFinanstilsynet (DK)
EstoniaFinantsinspektsioon
FinlandFIN-FSA
FranceAMF · ACPR
GermanyBaFin
GreeceHCMC · Bank of Greece
HungaryMNB
IrelandCentral Bank of Ireland
ItalyCONSOB · Banca d'Italia
LatviaLatvijas Banka
LithuaniaBank of Lithuania
LuxembourgCSSF
MaltaMFSA
NetherlandsAFM · DNB
PolandKNF
PortugalCMVM · Banco de Portugal
RomaniaASF
SlovakiaNBS
SloveniaATVP
SpainCNMV · Banco de España
SwedenFinansinspektionen
IcelandCentral Bank of Iceland
LiechtensteinFMA Liechtenstein
NorwayFinanstilsynet (NO)
United KingdomFCA
SwitzerlandFINMA
ESMA rules at a glance
Maximum leverage for retail clients in the EU
| Underlying | Max leverage | Initial margin | Examples |
|---|---|---|---|
| Major currency pairs | 30:1 | 3.33% | Any pair made of two of USD, EUR, JPY, GBP, CAD and CHF – e.g. EUR/USD, GBP/JPY, EUR/CHF |
| Non-major pairs, gold and major indices | 20:1 | 5% | EUR/PLN, AUD/USD, EUR/SEK, XAU/USD, DAX 40, CAC 40, EURO STOXX 50, S&P 500 |
| Commodities other than gold, non-major indices | 10:1 | 10% | Brent, WTI, silver, natural gas, smaller indices |
| Individual shares and other reference values | 5:1 | 20% | Single-stock CFDs, ETFs as CFDs, bonds |
| Cryptocurrencies | 2:1 | 50% | Bitcoin, Ether and other crypto CFDs |
These limits apply to retail clients of EU/EEA brokers, together with a 50% margin close-out rule, negative balance protection and a ban on trading incentives. The UK FCA applies equivalent rules. Read the guide.
Tools
Calculators built for European accounts
Pip value calculator
What one pip is worth in euro, pounds, francs or any account currency.
Position size calculator
Size a trade from your account, risk % and stop-loss distance.
ESMA margin calculator
Required margin under ESMA retail leverage limits, by asset class.
Profit & loss calculator
Result of a trade in pips and in your account currency.
Trading cost calculator
Spread + commission + overnight costs, per trade and per year.
Overnight financing calculator
Estimate the overnight charge on a leveraged CFD or FX position.
Drawdown & risk-of-ruin calculator
How deep losses compound and how likely a losing streak is.
Compounding & fees calculator
What realistic returns and costs do to capital over time.
Start here
Guides worth reading before your first trade
Safety & regulation
How to check a broker's licence in Europe (step by step)
Brands are not licensed – companies are. A practical, five-minute routine to confirm that the firm holding your money is authorised to serve you, and to spot clone firms.
Safety & regulation
Leverage in forex under ESMA rules – limits, margin and the 50% close-out
How leverage and margin work for European retail traders, the ESMA limits by asset class, negative balance protection, the margin close-out rule and what changes for professional clients.
Safety & regulation
Investor compensation schemes in Europe – what they cover and what they don't
If your broker fails, an investor compensation scheme may pay you. Limits range from €20,000 to €100,000 depending on the country of the firm's licence. Here is how it works.
Safety & regulation
Clone firms and trading scams in Europe – how they work and how to spot them
Clone firms copy the names and licence numbers of real brokers. Here are the scam patterns European regulators warn about most, the red flags, and what to do if you have already paid.
Forex & CFD basics
What is a pip in forex? Pips, pipettes and points explained
A pip is the standard price step in forex – 0.0001 for most pairs and 0.01 for yen pairs. How to count pips, what a pip is worth in euro or pounds, and how points work for indices and gold.
Markets & timing
When does the forex market open in Europe? Session times in CET, GMT and EET
Forex trading hours converted to European time zones, the London–New York overlap, daylight-saving quirks, the daily rollover and when spreads are widest.
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Why this site exists
Comparison sites rank brokers by who pays most. We start with who is allowed to hold your money.
ForexEU lists firms whether or not they pay us, shows licences and protections from public registers, and flags firms that serve Europeans from offshore entities. Where we earn affiliate commission, we label it.
Read our methodology How we make money