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.
It is important when trading forex to select a broker that provides good support, a wide range of assets, and favorable trading conditions. This is not always an easy combination to find. In this listing, the expert InvestinGoal review team has analyzed some of the best forex brokers to find exactly that.
We have put together a selection of some of the most trusted brokers in Romania and looked in detail at key aspects of these brokers such as account types, fees, and more to provide the most comprehensive detail possible to traders.
We have taken several factors into consideration, including:
- The overall quality of the broker
- The regulations of the broker
- Romanian language availability
- Physical presence in the country
Table of contents
Round-up of the best forex brokers in Romania
- XTB: Best local assistance and support
- Admirals: Best MetaTrader broker
- eToro: Best social trading service
- IG Markets: Best broker overall
- XM: Great educational section
- Capital.com: Best for CFD trading
- IC Markets: Best for low spreads
- BDSwiss: Wide range of account types
- Interactive Brokers: Great for professional traders
- FP Markets: Excellent order execution speed
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 Romania: 2022 list
Is forex trading legal in Romania?
Forex trading is legal in Romania. It is regulated by ASF (Autoritatea de Supraveghere Financiara). In order to offer services in Romania, brokers must also be registered within an EU country.
How to trade forex in Romania
Since Romania is in the EU, brokers must follow the mandatory ESMA regulatory structure. This means you will need an ID such as a passport, and proof of residence to sign up. You will also have to answer some KYC questions in relation to your product knowledge and your current economic situation. Once this is done you can fund your account.
None of the above is usually required for demo accounts. These can be opened with email and passwords only on most occasions.
What Romanian traders should look for in a forex broker
Limitations to note when trading in Romania include that both spread betting and binary options are banned. Forex brokers also can’t offer welcome or deposit bonuses, and the maximum leverage for retail traders is 1:30.
Here are some tips for choosing a broker in Romania:
1. Look for regulated forex brokers
The first is to choose a well-regulated broker. Since Romanian brokers need to be registered in Europe, they will have ESMA regulation which is very well-respected.
2. Choose brokers that offer low spreads and commissions
Spreads should be kept as low as possible. Under 1 pip on major forex pairs is ideal. Also, you should check deposit and withdrawal fees based on the currency and payment methods you will use. It is also worth looking at any active trader program a broker may have that could be beneficial.
3. If you want to keep your budget low, look for brokers with nano-lots
Nano lots are an excellent way to trade on lower budgets. These can typically allow you to open positions as low as €0.33 with a normal minimum amount of €33. Cent accounts can be even lower than €10.
How to verify if a forex broker is regulated in Romania
You can start by checking the ESMA regulation of your broker. Visit the ESMA official website and look for the list featuring the European national regulators. If your broker is regulated in one of these countries then it’s also ESMA regulated. Romanian ASF regulation can be checked on the official website of Autoritatea de Supraveghere Financiara (ASF). Here you will find the firm register on the website.
Is forex trading taxable in Romania?
Forex trading is taxable in Romania. Capital gains are subject to a flat 10% tax on incomes. Broker or transaction fees are tax-deductible and May 25th is the deadline for any tax declarations.
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