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 rounded up some of the most trusted forex brokers in Sweden to provide a comprehensive selection of the choices available.
Our team has also taken a detailed look at the key features each broker has to offer so you can make the most informed choice possible.
We have taken several factors into consideration, including:
- The overall quality of the broker;
- The regulations of the broker;
- SEK account availability;
- Swedish language availability;
- Physical presence in the country.
Table of Content
Round-up
- IG Markets: Best forex broker overall
- eToro: Best for social trading
- IC Markets: Best ECN service
- FP Markets: Best for low spreads
- XTB: Great educational sections
- easyMarkets: Good risk-management features
- AvaTrade: Best for fixed spread
- Interactive Brokers: Great for professional traders
- XM: Best for beginners
- HF Markets: 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
Review
1. IG Markets
- IG Markets is authorized to operate in sweden by Finansinspektionen with licence number 82882.
- IG Markets has an office in Stockholm, and the broker’s website is available in Swedish.
- Swedish traders have over 17000 tradable assets available with IG
- IG Markets makes over 80 forex pairs available in total, with spreads as low as 0.6 pips.
- Swedish forex traders can open forex positions up to 1:30, while professional clients’ up to 1:222.
- In Sweden, the minimum deposit at IG Markets is €300.
- Swedish traders can trade not only CFDs, but also barrier options and vanilla options with IG Markets.
Visit IG Markets
(76% of retail investor accounts lose money)
2. eToro
- eToro is a broker authorized by the Swedish FI with license number 25621.
- You can trade over 1000 instruments in total.
- Forex spreads with eToro start from 1 pip on forex.
- Swedish traders can open positions with maximum leverage up to 1:30 (1:400 for professionals).
- The minimum deposit at eToro for Swedish customers is €50.
- eToro only offers USD accounts, so Swedish traders may incur conversion fees when making deposits.
- The eToro website is available in Swedish.
Visit eToro
(79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money)
3. IC Markets
- IC Markets is a broker authorized to operate in Sweden by the FI (license #52469).
- Swedish traders can trade over 60 forex pairs with spreads starting from 0 pips.
- At IC Markets, the maximum leverage available in Sweden is 1:30 (1:500 for professional clients).
- IC Markets in Sweden does not require a minimum deposit.
- Swedish traders can use MT4, MT5 and cTrader with IC Markets.
Visit IC Markets
(74-89% of retail CFD accounts lose money)
4. FP Markets
- FP Markets offers its ECN forex service with an FI license number 52070.
- Spreads on forex with FP Markets start at 0 pips.
- Swedish scalpers, in addition to low spreads, can also benefit from FP Markets’ high order execution speed.
- FP Markets platforms available in Sweden are MT4 and MT5.
- The minimum deposit for Swedish clients is 100€.
Visit FP Markets
74-89% of retail CFD accounts lose money
5. XTB
- XTB is authorized to operate in Sweden by the FI (license # 31471).
- Swedish traders can trade over 5400 assets on XTB, including 40 forex pairs.
- XTB’s spreads start from 0.3 pips on forex.
- Swedish traders can open forex positions up to 1:30. Professional traders, on the other hand, up to a maximum of 1:200.
- XTB does not require a minimum deposit in Sweden.
- XTB does not open accounts in Swedish Krona, so traders may incur conversion fees when making deposits and withdrawals.
Visit XTB
79% of retail CFD accounts lose money
6. easyMarkets
- easyMarkets is a broker market maker licensed by Finansinspektionen under license 21173.
- The minimum deposit to open an account with easyMarkets is €25, and traders can also fund their account in SEK.
- Swedish traders can trade over 100 forex pairs with spreads starting from 0.3 pips.
- At easyMarkets it is possible to trade on MT4 and MT5.
- The maximum forex leverage for retail clients is 1:30 (1:500 for professionals).
Visit EasyMarkets
75% of retail CFD accounts lose money
7. AvaTrade
- AvaTrade is a fixed spread broker authorized by the FI with license 24576.
- On forex, AvaTrade charges fixed spreads starting from 0.9 pips and 0.6 for professional clients.
- Maximum leverage goes up to 1:400, but Swedish retail clients can access a maximum leverage of 1:30 with AvaTrade.
- AvaTrade’s minimum deposit for Swedish clients is €100.
- AvaTrade offers a demo account in Sweden, but the trial remains active for 21 days.
- AvaTrade’s website is available in Swedish.
Visit Avatrade
(79% of retail CFD accounts lose money)
8. Interactive Brokers
- Interactive Brokers is available in Sweden under multiple licenses, including the FI with license number 62240.
- IB offers a large number of tradable assets, including 100 forex pairs.
- Forex spreads with IB start at 0.1 pips.
- Leverage for Swedish clients is as high as 1:30 (1:400 for professional clients).
- For Swedish traders, IB requires no minimum deposit and allows you to deposit money in SEK as well.
Visit Interactive Brokers
74-89% of retail CFD accounts lose money
9. XM
- XM is a broker market maker authorized to operate in Sweden by the FI with license No. 27257.
- XM’s website is available in Swedish.
- At XM Swedish traders can trade over 55 forex pairs starting from 0 pips.
- The leverage available for professional clients is 1:500, while Swedish retail clients have access to 1:30 leverage.
Visit XM
73.57% of retail CFD accounts lose money
10. HF Markets
- HF Markets is authorized by the Swedish FI under license number 31987.
- Swedish traders can trade over 1000 CFDs, including over 50 forex pairs with spreads as low as 0 pips.
- The minimum deposit at HF in Sweden is €100, although this may vary depending on the type of account chosen.
- For Swedish clients there is a free unlimited HF demo account.
- The forex leverage offered by HF is 1:30, which extends up to 1:400 for professional clients.
Visit HF Markets
(71,32% of retail CFD accounts lose money)
Is forex trading legal in Sweden?
- Yes, it is.
- Forex market is regulated by Finansinspektionen (FI).
- If a broker wants to offer its services in Sweden, it just has to register within any EU country.
How to trade forex in Sweden
- ESMA made mandatory for all EU nations to adopt a uniform regulatory structure.
- So, within the EU a forex broker will ask for the following documents:
- An ID (or the Passport) to confirm your identity;
- A Proof of residence.
- The broker will then ask questions for the KYC (Know Your Customer) ESMA rules:
- Your knowledge on the products it’s offering;
- Your current economic situation.
- Then you will be ready to fund your account.
- Demo accounts, when offered, do not require anything of this. They can be opened with email & password most of the times
What Swedish traders should look for in a forex broker
- Retail traders face 4 main limitation when it comes to trading in Sweden and Europe in general:
- You cannot trade with more than 1:30 leverage on Forex;
- Spread betting is banned;
- Binary Options are banned;
- Brokers cannot offer welcome bonuses or deposit bonuses, however, they can offer benefits to loyal/active traders.
- 3 tips when choosing the best broker in Sweden:
1. Look for regulated forex brokers
- ESMA is a top tier market regulator.
- Brokers are not allowed to offer their services in an EU country if the broker itself is not ESMA regulated.
2. Choose brokers that offer low spreads and commissions
- As a general rule, spreads should be kept low (below 1 pip on forex major pairs).
- Deposits and withdrawal fees are usually low, however, some broker may apply higher fees than normal.
- In addition to this, Active Trader programs are usually a plus since they offer lower spreads or rebates.
3. If you want to keep your budget low, look for brokers with nano-lots
- In Europe, with 30:1 leverage, it’s hard to trade freely with less than 100€. That’s why standard deposits are usually between 100€ and 200€.
- However, with nano lots you can open positions on forex with just 0.33€. Normally, the minimum amount is 33€.
- An alternative to nano-lots are Cent accounts.
- Usually, the minimum deposit on these accounts is lower than 10€.
How to verify if a forex broker is regulated in Sweden
- If you want to check the ESMA regulation, go to the ESMA official website and look for the list featuring the European national regulators.
- If the broker is based in one of these countries, usually Cyprus, then it’s also ESMA regulated
- If the broker holds at least one EU regulation, it will most likely hold the Swedish FI Licence as well.
- To double check it, go to the official website of Finansinspektionen (FI), and find the firm register within the website
Is forex trading taxable in Sweden?
- Yes, it is.
- Capital gain on forex trading is taxable as investment income.
- Both investment income and capital gain are subject to a flat 30% rate.
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