Best Forex Brokers in Czech Republic 2022

filippo ucchino Filippo Ucchino calendar Last Updated: May 2022 timer 11 min read
Top Rated:

At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

We have carefully chosen some of the best forex brokers in Czech Republic with the right combination of top-tier regulation, and trading features.

We have taken several factors into consideration, including:

  • The overall quality of the broker
  • The regulations of the broker
  • CZK account availability
  • Czech language availability
  • Physical presence in the country
Table of contents

Round-up

  1. XTB: best local assistance and support
  2. Pepperstone: great for scalpers
  3. eToro: best social trading platform
  4. XM: best educational section
  5. Admirals: best MetaTrader broker
  6. Interactive Brokers: best for professional traders
  7. Dukascopy: best trading platform
  8. easyMarkets: great risk-management features
  9. IG Markets: wide range of markets
  10. Tickmill: wide range of trading accounts

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Top 10 forex brokers in Czech Republic: 2022 list

  • XTB is authorized in the Czech Republic by the Česká Národní Banka (CNB) under registration number 27867102 with a physical office in Prague and their website is also available in Czech.
  • You can deposit and open XTB accounts in the Czech Republic with CZK, EUR, or USD.
  • To deposit funds, XTB accepts payments through bank transfers, credit/debit cards, and PayPal in the Czech Republic.
  • XTB provides trading on more than 40 forex pairs with spreads starting from 0.3 pips on EUR/USD and a leverage of up to 30:1 (retail clients) or 200:1 (pro traders only).

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79% of retail investor accounts lose money
  • Pepperstone is CySEC regulated and authorized by the Czech CNB to provide cross-border services in the Czech Republic.
  • The Czech language is unavailable on Pepperstone’s website.
  • Though CZK deposits are available with Pepperstone, Czech Republic traders can only open accounts in EUR or USD.
  • Local deposit options in the Czech Republic with Pepperstone are bank wires and credit/debit cards.
  • Pepperstone offers over 60 forex pairs charging spreads from 0 pips on EUR/USD
  • Leverage in the Czech Republic is limited to 30:1 for retail clients or up to 500:1 for pro traders.

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74-89% of retail investor accounts lose money when trading CFDs
  • eToro is regulated by CySEC and licensed by the CNB to provide cross-border services in the Czech Republic with a website available in the local language.
  • All trading accounts with eToro are set with USD as the only base currency though you can deposit with CZK in the Czech Republic and be subject to a conversion fee.
  • Depositing your funds in the Czech Republic is supported by eToro via credit cards, bank wires, Sofort, PayPal, Skrill, and Neteller
  • eToro opens access to more than 45 currency pairs with a spread from 1 pip on EUR/USD.
  • Czech Republic traders are limited to a 30:1 leverage unless you are a pro trader with eToro and have access to a 400:1 ratio.

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68% of retail investor accounts lose money
  • XM can operate in the Czech Republic via a cross-border authorization of the CNB providing also a website in the Czech language.
  • There is a good range of base currency with XM in the Czech Republic but CZK is not among them even though you can use it for deposit purposes.
  • XM includes more than 50 tradable forex pairs with a spread from 0.1 pips on EUR/USD.
  • Leverage in the Czech Republic is 30:1 due to regulation though XM professional traders can access higher leverage up to 500:1.

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73.57% of retail investor accounts lose money
  • Admirals have regulation in place from the CySEC within the EU and are also authorized in the Czech Republic by the CNB.
  • The Admirals website supports the Czech language.
  • CZK accounts are supported by Admirals in the Czech Republic if you deposit via credit or debit cards.
  • Czech Republic traders have an Admirals minimum deposit of 1000 CZK.
  • Admirals provide trading on over 40 forex pairs in the Czech Republic with spreads from 0.1 pips on EUR/USD.
  • Czech Republic traders have access to leverage of up to 1:30 for retail traders and 1:500 for Admirals pro traders.

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76% of retail investor accounts lose money
  • Interactive Brokers is regulated in the EU by the Central Bank of Hungary while being authorized by the Czech CNB to offer cross-border services in the Czech Republic.
  • To open a trading account in the Czech Republic with Interactive Brokers there is no minimum deposit and you can choose CZK as your base currency.
  • Interactive Brokers offers over 100 forex pairs in the Czech Republic with spreads starting 0.1 pips on EUR/USD.
  • Czech Republic clients have leverage of up to 1:30 for IB retail clients and 1:400 for IB pro clients.

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74-89% of retail CFD accounts lose money
  • Dukascopy is regulated in the EU and also authorized by the Czech CNB providing cross-border services in the Czech Republic and a website available in local language.
  • CZK accounts are available with Dukascopy with a minimum deposit in Czech Republic of 100 CZK.
  • Deposits in Czech Republic are supported by Dukascopy with bank transfers, credit cards, Skrill, Neteller, and cryptos.
  • Dukascopy provides more than 60 currency pairs with spreads starting from 0.2 pips on EUR/USD in Czech Republic.
  • Leverage available in Czech Republic is up to 30:1 as a Dukascopy retail trader or up to 1:200 as a pro trader.

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83% of retail CFD accounts lose money
  • easyMarkets is regulated in the EU by the CySEC and authorized by the Czech CNB for cross-border services in the Czech Republic.
  • You can deposit and open an easyMarkets trading account with CZK as your base currency in Czech Republic.
  • easyMarkets make available more than 100 forex pairs with spread on EUR/USD from 0.7 pips
  • Leverage is available on forex in Czech Republic up to 1:30 for retail clients and 1:400 for easyMarkets pro clients.

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75% of retail investor accounts lose money
  • IG Markets is regulated in the EU by BaFin and authorized by the Czech CNB for cross-border services in Czech Republic.
  • The only base currencies available with IG Markets are USD, EUR, and GBP so if you deposit CZK in Czech Republic you are likely to pay a conversion fee.
  • IG Markets offers over 80 forex pairs with spreads from 0.6 pips on EUR/USD in Czech Republic.
  • Leverage available in Czech Republic is up to 1:30 for IG Markets retail traders and 1:222 for pro traders.

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76% of retail CFD accounts lose money
  • Tickmill is well-regulated in the EU by the CySEC and authorized by the Czech CNB to offer cross-border services in Czech Republic.
  • CZK accounts are unavailable in Czech Republic so depositing CZK with Tickmill will charge you a conversion fee.
  • Tickmill processes payments in Czech Republic through bank transfers, credit/debit cards and Skrill.
  • Tickmill offers more than 60 forex pairs in Czech Republic with spread on EUR/USD starting from 0.1 pips.
  • Traders based in Czech Republic have leverage available up to 1:30 for Tickmill retail traders and 1:300 for Tickmill pro traders.

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73% of retail investor accounts lose money

Is forex trading legal in Czech Republic?

Forex trading is legal in the Czech Republic. The forex market in the country is regulated by the Česká Národní Banka (CNB). A broker that wants to offer service in the country must be registered within any EU country.

How to trade forex in Czech Republic

ESMA regulations mean that each EU nation has a set regulatory structure with certain mandatory elements for trading forex. This means you will need both an ID such as your passport and proof of residence to verify your account.

A broker will also require you to complete some KYC (Know Your Customer) questions including some basic questions about your knowledge of the product offering and your own economic situation to confirm you are suitable for trading. Your account will then be ready to fund.

With a demo account, these steps are not needed and the accounts can typically be opened with just an email and password since trading on demo accounts is risk-free using virtual funds.

What Czech traders should look for in a forex broker

Some limitations you will encounter when trading forex in the Czech Republic include the maximum leverage being 1:30 as a retail trader, both spread betting and binary options trading are banned, and brokers cannot offer welcome bonuses or deposit bonuses. However, they can offer benefits to loyal or active traders.

Here are three tips for making your Czech Republic broker choice:

1. Look for regulated forex brokers

It is important to choose a well-regulated broker. Being in the EU means that brokers can’t offer services in the Czech Republic unless they are ESMA regulated. This means you should always be dealing with a trustworthy broker.

2. Choose brokers that offer low spreads and commissions

You should be trying to select brokers with low spreads and commissions. Below 1 pip on major forex pairs is a general rule. Also, look out for deposit and withdrawal fees on your payment methods. Active trader programs can be a good way to save on some fees or earn rebates.

3. If you want to keep your budget low, look for brokers with nano-lots

Nano lots are a good way to trade for low-budget users. These positions can usually be opened on forex for just €0.33. Normally, the minimum amount is €33 for nano lots. Cent accounts are another option where the minimum deposit usually starts at €10.

How to verify if a forex broker is regulated in Czech Republic

You can verify your brokers’ ESMA regulation by going to the ESMA official website and looking for the list featuring the European national regulators. If your broker is based in an EU country then it is also ESMA regulated. If the broker holds at least one EU regulation, it will most likely hold the Czech CNB license as well. To double-check it, go to the official website of Česká národní banka (CNB), and find the firm registered on the website.

Is forex trading taxable in Czech Republic?

Forex trading is taxable in the Czech Republic. There is no separate capital gains tax in the country which means any capital gains are included in the individual income tax base as ordinary income. The tax rate for residents of the Czech Republic is 15%.


About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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