10 Best Forex Brokers in Finland for 2025

Yes, Forex trading is legal in Finland. The Finnish Forex trading market operates under the supervision of the Finnish Financial Supervisory Authority (FIN-FSA), which enforces EU regulations and ensures that Forex brokers comply with local and international standards, including Anti-Money Laundering (AML) and investor protection measures.

The FIN-FSA was established to oversee Finnish financial markets, and it works closely with the European Securities and Markets Authority (ESMA) to ensure that Finnish regulations align with European directives. Finland, as an EU member, adheres to MiFID II directives, creating a harmonized financial regulatory framework across all EEA countries, including Forex trading.

The legality of Forex trading in Finland is anchored in national legislation that transposes EU financial laws into Finnish law, such as the Investment Services Act (Sijoituspalvelulaki), ensuring transparency, fairness, and investor protection. Finland’s Investor Compensation Fund, required under EU law, provides coverage for eligible investors up to €20,000 in the event of a broker’s insolvency.

To verify FIN-FSA authorization of Forex brokers in Finland you have to follow 4 steps. First, look for the broker’s business name in Finland. Second, go to the FIN-FSA official website and check the “Investment Firms We Supervise” list. Third, verify the broker’s status by searching for their name on the FIN-FSA website. Finally, match the broker’s details with the information provided by the FIN-FSA regulator.

The first step is to search for the Forex broker’s FIN-FSA membership details at the bottom of the Forex broker operating in Finland. FIN-FSA members often display their registration credentials and links to regulatory disclosures, especially the “business name” they have used to register their activities in Finland.

The second step involves the FIN-FSA official website. Search for the “Investment Firms We Supervise” section on the top menu, under the “for investors” section.

The third step is to verify the Finnish Forex broker’s status by inserting the broker’s brand name or business name into the FIN-FSA database. If you cannot find a match, it means the broker may not be regulated by FIN-FSA and could be operating without proper authorization.

The final step to verify the FIN-FSA authorization of a Forex broker is to match the dealer’s details with the information provided by the FIN-FSA regulator.

The Finnish Financial Supervisory Authority is important because it ensures fair market conditions, oversight, and investor protection for Forex traders in Finland. FIN-FSA requires Forex brokers to adhere to EU standards, treat customers fairly, keep client funds segregated, and maintain transparent trading conditions.

FIN-FSA supervision is crucial as it enforces leverage limits aligned with ESMA regulations, provides compensation schemes up to €20,000 for broker insolvencies, and can impose fines or withdraw licenses from non-compliant brokers. The FIN-FSA ensures Forex brokers operating in Finland respect EU and Finnish laws, such as the Investment Services Act, and follow European guidelines that foster market efficiency, transparency, and fairness.

The Treating Customers Fairly (TCF) principles, adapted from EU best practices, guide Finnish Forex brokers in ensuring that traders receive reliable information, suitable product offerings, and a high standard of customer service. This regulatory framework helps maintain trust in Finland’s Forex market and safeguards the interests of Finnish traders.

There are six factors to consider when choosing the best Forex broker in Finland. The factors to choose the best Forex broker in Finland are listed below.

• Check the FIN-FSA regulation of the broker: Checking the FIN-FSA regulation helps traders understand if a broker is authorized to sell and promote Forex and CFD trading services in Finland. It also ensures the broker complies with Finnish privacy laws when following KYC and Anti-Money-Laundering (AML) regulations.
• Check the Finnish Forex broker reputation: Verify if the Forex broker has received negative reviews from Finnish users on platforms such as Trustpilot. Traders should also confirm on the official Financial Supervisory Authority of Finland (FIN-FSA) website whether the broker has faced any past complaints or sanctions.
• Check the spreads: Review the minimum and average spreads offered by the Finnish Forex broker. The industry benchmark is typically an average spread of 1 pip on the EUR/USD Forex pair.
• Check technical features: Confirm whether the Forex broker has servers located within Finland or nearby in Northern Europe. Locally or regionally placed trading servers help Finnish traders reduce latency times, improving the slippage ratio of Forex trades.
• Check the Forex broker’s presence in Finland: Ensure the broker has an office or a physical presence in Finland. A physical location allows Finnish authorities to better oversee the broker’s financial activities and ensures the broker is operating legitimately under local regulatory guidelines.
• Check for liquidity providers: Review the broker’s liquidity providers and their quality. High-quality liquidity providers enable Finnish Forex brokers to offer lower and more stable spreads, even during periods of high market volatility.

The table to compare Forex Brokers in Finland is shown below.

brokers	Spreads From	Minimum Deposit	Bonus	Accepts Finnish Traders
Pepperstone	0 pips	$0	No	Yes
eToro	1 pip	$100	No	Yes
IG Markets	0,6 pips	$300	No	Yes
XM	0 pips	$5	No	Yes
Saxo	0.60 pips	$0	No	Yes

The table to compare Forex Brokers in Finland for spread is shown below.

brokers	EUR/USD Avg Spread	GBP/USD Avg Spread	EUR/GBP Avg Spread
Pepperstone	0.09 pips	0.38 pips	0.41 pips
eToro	1 pip	2 pips	2 pips
IG Markets	0.7 pips	1.52 pips	0.9 pips
XM	0.1 pips	0.2 pips	0.2 pips
Saxo	0.60 pips	0.80 pips	0.75 pips

The table to compare Forex Brokers in Finland for commission is shown below.

brokers	Commission per Lot Traded	Inactivity Fee	Currency Conversion Fee
Pepperstone	$7 round turn	No	Yes
eToro	No	$10/month	Yes
IG Markets	No	$12/month	Yes
XM	$7 round turn	$5/month ($15 for the first month)	No
Saxo	No	No	No

The table to compare Forex Brokers in Finland for popularity is shown below.

brokers	Number of Customers	Number of App Downloads
Pepperstone	~300,000+	~500,000+
eToro	~32,000,000+	~10,000,000+
IG Markets	~300,000+	~1,000,000+
XM	N/A	1.000.000+
Saxo	N/A	100,000+

The table to compare Forex Brokers in Finland for inactivity fee is shown below.

brokers	Inactivity Fee	Inactivity Fee Activation Time
Pepperstone	No	No inactivity fee
eToro	$10/month	12 months
IG Markets	$12/month	24 months
XM	$5/month ($15 for the first month)	12 months
Saxo	No	No

The table to compare Forex Brokers in Finland for currency pairs is shown below.

brokers	Number of Currency Pairs
Pepperstone	70
eToro	47
IG Markets	90
XM	57
Saxo	182

The table to compare Forex Brokers in Finland for minimum deposit is shown below.

brokers	Minimum Deposit
Pepperstone	$0
eToro	$100
IG Markets	$300
XM	$5
Saxo	$0

The best Forex broker for beginners in Finland is eToro. eToro is considered the best broker for Finnish novice traders due to its unlimited demo account, a low minimum deposit of around €50, and advanced social/copy trading features. These tools enable beginners to gain insights, learn from more experienced European Forex traders, and gradually build their trading knowledge before investing larger amounts.

Alternatives to eToro as beginner-friendly Forex brokers in Finland include AvaTrade for its fixed spreads policy (from approximately 0.9 pips), XTB for having no minimum deposit requirement, and Oanda for the small minimum trade size available (from around €0.01).

Criteria for ranking Forex brokers for beginners in Finland are regulation (such as FIN-FSA or EU licensing), ease of use, responsive customer support, and a low minimum deposit threshold.

The best Forex broker for volume ranking in Finland is Oanda. While Oanda is not Finnish-based, it operates under reputable EU regulation and has a significant global footprint, including servicing Finnish traders. Oanda reports an average daily transaction volume (ADTV) of over 10.7 billion USD globally, amounting to around 3.9 trillion USD in annual Forex transactions. Such a high trading volume is indicative of the broker’s liquidity and execution quality.

Other Forex brokers available to Finnish traders with high global trading volumes include IG Markets, with an ADTV of approximately 6.8 billion USD, Pepperstone with around 6.7 billion USD, and FxPro with about 6.5 billion USD.

The main criterion for ranking Forex brokers by volume in Finland is the average daily transaction volume (ADTV), which reflects the total value of all processed Forex trades and can indicate better liquidity conditions for traders.

To open a Forex trading account with a broker in Finland, first go to the official website of the Finnish (or EU-regulated) Forex broker and ensure it is legitimate. Second, open a trading profile. Third, verify your identity. Fourth, make your first deposit. Finally, wait for the transaction to be processed.

The first step to open a Forex trading account as a trader in Finland is to visit the broker’s official website homepage. Make sure to check the FIN-FSA regulation or valid EU license of the Forex broker of your choice before creating a demo account.

Secondly, open a trading profile. Opening a demo account in Finland with a Forex broker requires an email, a password, and sometimes a valid phone number.

Thirdly, verify your identity with the Forex broker. Forex brokers in Finland adhere to EU AML laws and follow Know Your Customer (KYC) guidelines, which require Forex traders based in Finland to submit proof of address (such as utility bills or bank statements) and proof of identity (such as an ID card or passport). The KYC verification process in Finland generally requires between 1 to 5 business days to be completed.

Fourth, deposit money into your account. Forex brokers operating in Finland require traders to meet the first minimum deposit amount needed to set up a Forex account. The minimum deposit is often expressed in EUR, which means traders must deposit Euros directly or convert their funds if they are held in another currency.

Finally, wait for the deposit to be processed. The deposit processing time with Finnish or EU-regulated Forex brokers varies between a few hours and a couple of days, depending on the chosen deposit method.

The amount of money required to start a Forex trading account in Finland typically ranges from $10 to $1000. The minimum deposit to open a Finnish Forex trading account is $10 with a nano lot account, increasing to $1000 for Finnish traders who prefer to trade with minimal or no leverage.

The minimum deposit needed to open a Forex Trading Account in Finland is $10 with a nano lot account through brokers like Oanda. Nano lot trading accounts allow traders to open positions with very small trade sizes, such as 100 units of currency, making them ideal for those starting with limited funds.

The minimum amount required is $33 to trade on a Standard Forex trading account with a Finland-regulated Forex broker. Forex trading accounts in Finland have a leverage cap of 1:30 (3% margin), and standard trading accounts do not permit trades with volumes smaller than 1 micro lot, or 1000 units. To open a Forex position with a standard account in Finland, the margin needed is $33 (3% of $1000). Finland-regulated Forex brokers, such as Oanda, require at least $33 to initiate a trade but recommend a deposit of at least $200 for more sustainable trading.

The minimum deposit to open a Forex trading account without leverage in Finland is $1000, which enables trading with 1 micro lot. Micro lots are available through many top Forex brokers in Finland, including IG Markets.

Forex brokers serving Finnish traders typically accept the following payment options:

1. Wire transfers: Wire transfers in Finland are available and reliable. Finnish traders can use SEPA (Single Euro Payments Area) transfers, which make deposits and withdrawals within the European Union faster and with little-to-no fees. Wire transfers in Finland may take a few days to process.
2. Credit Cards: Visa and Mastercard credit cards are frequently accepted in Finland. Credit card deposits are generally fast, but traders must adhere to withdrawal and refund rules set by both the Finnish broker and the card issuer.
3. Debit Cards: Debit cards (Visa and Mastercard) offer a flexible deposit and withdrawal method for Finnish traders. Debit card deposits in Finland often carry low fees and are processed in 1-2 business days.
4. eWallets: eWallets like Skrill, Neteller, and PayPal are available to Finnish Forex traders. eWallets in Finland process deposits rapidly but typically involve higher fees (from 1% to 3%) compared to bank transfers or cards.

The disadvantages of Forex Brokers in Finland are listed below:

• Limited Leverage: Finland is an European Union member and adheres to ESMA regulations. The ESMA regulation cap retail Forex leverage at 1:30 to reduce trading risk for retail traders.
• Higher Operating Costs: Finnish forex brokers must comply with EU-wide financial regulations, investor protection directives, and local oversight from FIN-FSA increases operational costs for brokers. These costs may be reflected in slightly higher trading fees or operational restrictions.

Yes, Forex traders pay tax in Finland. Forex trading profits are generally classified as capital income. Finland applies a progressive tax rate on capital income: 30% tax on annual capital gains up to €30,000 and 34% on any amount above €30,000.

For example, if you generate €10,000 in Forex profits within a year, you would pay a 30% tax on that amount. There are no special exemptions and no significant tax-free allowances for Forex trading profits. All gains must be declared, and taxes paid according to Finnish capital income tax rules, ensuring compliance with local legislation.

The table with the best MetaTrader brokers in Finland is shown below.

brokers	MT4 Availability	MT5 Availability	Premium Tools for MetaTrader	MetaTrader Demo	Minimum Deposit
Pepperstone	Yes	Yes	Yes	Yes	$0
IG Markets	Yes	No	Yes	Yes	$300
XM	Yes	Yes	No	Yes	$5
Saxo	No	No	No	No	$0
AvaTrade	Yes	Yes	No	Yes	$100

MetaTrader is a trading platform owned by MetaQuotes, and is common among Forex brokers regulated in Finland. MetaQuotes provides two MetaTrader platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both available for Forex traders in Finland.

The Forex trading statistics for Finland are listed below:

• Retail Finnish traders’ losses: Specific national data for Finland is limited, but Finnish retail Forex traders’ loss percentages are broadly in line with other EU countries. According to ESMA-supervised brokers, approximately 70-80% of retail Forex traders in the EU lose money over time.
• Finnish retail traders reporting large losses: While no Finland-specific survey is widely published, EU research indicates around 20% of retail traders report substantial losses within a 6-month period. This figure can be considered similar for Finnish traders, as Finland adheres to the same EU regulatory framework.
• Finnish Forex AVDT: Finland does not host a major global Forex hub. As part of the Eurozone, its domestic Forex activity is intertwined with the broader European market. According to BIS data, the euro area accounts for a significant portion of the global daily FX turnover, though Finland’s direct share is relatively small.
• Number of Finnish Forex traders: Accurate figures for the number of active Finnish Forex traders are not publicly available. Industry estimates suggest a few thousand retail Forex traders in Finland, a modest figure compared to larger EU markets.
• Europe’s position in global trading volume: While London remains the primary global FX center, Finland relies on EU financial hubs. Most Finnish traders access Forex liquidity through European brokers regulated under MiFID II rather than domestic trading floors.

The terms of Finland-specific or EU-relevant Forex terminology that traders in Finland should learn are listed below:

• FIN-FSA (Finanssivalvonta): FIN-FSA is the Finnish Financial Supervisory Authority. It oversees Forex brokers operating in Finland, ensuring compliance with EU regulations, investor protection, and fair trading practices.
• Finnish Government Bonds (Valtionvelkakirjat): While not a direct Forex term, Finnish government bonds can influence investor sentiment and the Euro’s stability. Monitoring these bonds helps understand the broader economic environment affecting EUR-based currency pairs.

Yes, Finnish Forex traders can employ a range of trading strategies, such as day trading, swing trading, and algorithmic trading. These strategies must comply with FIN-FSA and EU regulations, as well as individual broker policies. While common strategies like scalping or hedging are generally allowed, traders should verify with their EU-regulated broker if any restrictions apply.

Finnish traders should also pay attention to economic events in Finland and the Eurozone. Monitoring Eurozone GDP data, ECB interest rate decisions, and Finnish economic indicators can help traders tailor their strategies to the market environment. Moreover, since Finland is part of the Euro-area, global events affecting the Euro will often have a direct impact on Finnish Forex traders’ strategies.

The countries similar to Finland for Forex trading are other EU and EEA member states that share common regulatory standards, investor protection frameworks, and leverage limitations under ESMA rules. These similarities include standardized leverage caps (1:30 for retail clients), compensation schemes, negative balance protection, and recognition of both retail and professional trader status.

The most similar countries to Finland for Forex trading are listed below:

• Ireland: Ireland, like Finland, is part of the EU and the Eurozone, adhering to MiFID II and ESMA regulations. Forex brokers in Ireland benefit from similar investor compensation schemes, identical leverage limits (up to 1:30), and a similar regulatory environment.
• Germany: Germany is an EU member state with robust financial regulations, negative balance protection, and compensation schemes aligned with EU directives. Regulated forex brokers in Germany create a Forex trading landscape similar to that of Finland.
• United Kingdom: The United Kingdom fx market is similar to the Finnish forex trading market in different aspects despite being regulated by a non-european regulatory body (the FCA). All regulated forex brokers in the UK offer investors compensation schemes, 1:30 leverage restriction to retail traders, and strict oversight, ensuring a similar trading environment for Forex traders in Finland.