XTB
Visit XTB
79% of retail investor accounts lose money
10 Best Forex Brokers in Romania for 2023
Our Picks
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Admirals
Visit Admirals76% of retail investor accounts lose money -
eToro
Visit eToro77% of retail investor accounts lose money -
IG Markets
Visit IG Markets70% of retail CFD accounts lose money -
XM
Visit XM77,37% of retail investor accounts lose money -
Capital.com
Visit Capital.com84% of retail CFD accounts lose money -
IC Markets
Visit IC Markets74-89% of retail CFD accounts lose money -
BDSwiss
Visit BDSwiss72.5% of retails investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. -
Interactive Brokers
Visit Interactive Brokers74-89% of retail CFD accounts lose money -
FP Markets
Visit FP Markets74-89% of retail CFD accounts lose money
Romania, situated in Southeastern Europe, plays a growing role in the global financial markets, particularly within the European region.
A member of the European Union since 2007, its official currency of Romania is the Romanian leu (RON).
In the realm of financial market activities, particularly in retail forex trading, oversight is provided by the Financial Supervisory Authority (ASF – Autoritatea de Supraveghere Financiară). The ASF plays a pivotal role in ensuring that financial market participants, including forex brokers, operate with transparency, integrity, and in the best interests of consumers. This regulatory body is tasked with implementing national guidelines, as well as harmonizing them with EU-wide regulations, thus providing a stable and trustworthy environment for both domestic and international investors.
In this article 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.
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 Content
What are the best forex brokers in Romania?
Below is our curated list of the best forex brokers for traders living in Romania, with details and information about the country laws, the features, and the characteristics.
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.
XTB : Best local assistance and support
- XTB is authorized by the Romanian Autoritatea de Supraveghere Financiara (ASF) under number PJM01FISMCYP1569.
- XTB supports Romanian traders with a physical office in Bucharest as well as Romanian language support on their website.
- There is no minimum deposit required by XTB in Romania.
- XTB Accounts can be opened in USD, EUR, and RON in Romania.
- XTB provides 5,400 CFDs through their proprietary xStation 5 trading platform, including over 40 forex pairs. Physical stocks and ETFs are also tradable in Romania.
- Spreads charged by XTB for Romanian clients start from 0.3 pips on forex with leverage of up to 1:30 on forex for retail traders and 1:200 for pro traders.
Admirals : Best MetaTrader broker
- Admirals is authorized by the Romanian ASF under the license number PJM01FISMCYP1772.
- Admirals have a $100 minimum deposit in place to start trading in Romania.
- Romanian traders can open accounts in USD, EUR, and RON.
- There are more than 3,900 CFDs to choose from with Admirals including in excess of 40 forex pairs. Real stocks can also be traded in Romania.
- Admirals spreads for Romanian clients start from 0 pips on forex and leverage of 1:30 is possible for retail clients with up to 1:500 accessible for pro clients.
eToro : Best social trading service
- eToro is authorized to provide its service in Romania by the Romanian ASF under license number PJM01FISMCYP0961.
- eToro website is available in Romanian.
- eToro minimum deposit is $100 in Romania.
- Accounts can be opened by Romanian traders in USD with eToro. A conversion fee will be charged if you deposit in another currency.
- More than 1,000 CFDs including 47 forex pairs are tradable through eToro in Romania, as well as over 40 cryptocurrencies and real stocks that can be traded commission-free.
- eToro spreads start from 1 pip on forex and Romanian traders can access leverage of as much as 1:30 or 1:400 when trading as a retail or pro client respectively.
IG Markets : Best broker overall
- IG Markets is regulated by the Romanian ASF (license number PJM01FISMDEU2334).
- An IG Markets minimum deposit of $300 is required for Romanian traders.
- In Romania, clients find USD and EUR as base currencies available.
- Romanian traders with IG Markets can trade among more than 17,000 CFDs, including 80 forex pairs.
- IG Markets spreads start on forex from 0.6 pips with leverage on forex reaching a maximum of 1:30 for Romanian retail traders and 1:222 for Romanian pro traders.
XM : Great educational section
- XM is authorized by the Romanian ASF under license number PJM01FISMCYP1151 to operate in Romania.
- XM requires a minimum deposit of $5 from Romanian clients.
- XM accounts in Romania can be opened in USD or EUR.
- More than 1,000 XM CFDs are available to be traded by Romanian traders including in excess of 55 forex pairs.
- Spreads at XM start on forex from 1 pip and retail traders can access leverage of up to 1:30.
Capital.com : Best for CFD trading
- Capital.com is authorized by the Romanian ASF (license number PJM01FISMCYP2155).
- Capital.com has a minimum deposit requirement of $20 for its Romanian traders.
- USD and EUR can be used to open Capital.com accounts in Romania.
- Romanian clients can trade more than 6,000 CFDs with Capital.com, including over 100 forex pairs.
- Spreads on forex start from 0.5 pips at Capital.com in Romania, with a leverage of up to 1:30 is available for retail traders and 1:500 for pro traders.
IC Markets : Wide range of account types
- IC Markets is authorized to operate in Romania by the Romanian ASF (license number PJM01FISMCYP2341).
- $200 is the minimum deposit required to open an account with IC Markets for Romanian clients.
- USD and EUR base currencies are accepted in Romania with IC Markets.
- IC Markets provides Romanian traders 1,700+ CFDs tradable with 60 forex pairs.
- The spreads charged by IC Markets in Romania start from 0 pips on forex, with a maximum leverage of 1:30 or 1:500 available for retail and pro traders respectively.
BDSwiss : Wide range of account types
- BDSwiss is authorized by the Romanian ASF under the license number PJM01FISMCYP1699.
- BDSwiss’s website has Romanian language support.
- The minimum deposit for Romanian clients is $100 although BDSwiss is temporarily not accepting new clients at the moment.
- Romanian traders can open accounts with USD, EUR, and NOK base currencies.
- BDSwiss has over 200 tradable assets including 50 forex pairs available in Romania.
- Spreads at BDSwiss start from 0 pips on forex and there is maximum leverage of up to 1:30 (Romanian retail clients) and up to 1:400 (Romanian pro clients).
72.5% of retails investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Interactive Brokers : Great for professional traders
- Interactive Brokers is authorized in Romania by the Romanian ASF (license number PJM01FISMDHUN0186).
- Romanian traders won’t find a minimum deposit requirement to open an IB account.
- Interactive Brokers accounts can be opened in USD and EUR by Romanian clients.
- More than 10,000 assets can be traded in Romania with Interactive Brokers, including over 100 forex pairs.
- In Romania, spreads at Interactive Brokers start from 0.1 pips on forex with a leverage of up to 1:30 for retail traders and up to 1:400 is available for pro traders.
FP Markets : Excellent order execution speed
- FP Markets is authorized by the Romanian ASF (license number PJM01FISMDCYP0066) to operate in the Country.
- FP Markets has a minimum deposit of $100 in Romania.
- Romanian clients can open FP Markets accounts in USD and EUR.
- More than 10,000 CFDs including over 70 forex pairs can be traded in Romania with FP Markets.
- The spreads on forex at FP Markets start from 0 pips on forex while there is a 1:30 maximum leverage available to Romanian retail clients, and 1:500 to Romanian pro clients.
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 should Romanian traders 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.
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.
10 Best Forex Brokers in Romania for 2023
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