The best Forex brokers in Sweden are IG Markets, eToro, FP Markets, and IC Markets.
To choose the best Forex broker to trade in Sweden, proper registration of the broker with the Finansinspektionen (FI), trading costs (spreads and commissions), platform and tools, execution speed, and customer support are the most important criteria.
IG Markets is the best Forex broker overall in Sweden, it operates under FI number 82882, with spreads (0.6 pips on EUR/USD) with an execution speed of 13 ms approximately, comprehensive platforms (Proprietary Platform), and active customer support (24/5 availability).
eToro, FP Markets, and IC Markets follow IG Markets as the best Forex brokers in Sweden with platform and tools (MT4, MT5, cTrader and Proprietary Platform), and customer support (24/5 availability via phone, email, and chat). eToro offers trading costs with spreads from 1 pip on EUR/USD with a high execution speed. FP Markets offers trading costs with spreads from 0.1 pips along a commission of $6 per lot round turn on EUR/USD with an execution speed of 40 ms approximately. IC Markets offer trading costs with spreads from 0.1 pips along a commission of $7 per lot round turn on EUR/USD with an execution speed of 36.5 ms approximately.
What are the best forex brokers in Sweden?
Below is our curated list and review of the best forex brokers for traders living in Sweden, 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.
IG Markets
Best forex broker overall
IG Markets operates in Sweden with a license from Finansinspektionen. IG Markets offers over 17,000 assets. IG Markets allows Swedish traders maximum leverage of 1:30. IG Markets supports trading of CFDs, barrier options, and vanilla options.
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About IG Markets
IG Markets is a global online trading provider founded in 1974, offering access to over 17,000 financial markets including forex, stocks, indices, commodities, and cryptocurrencies. IG Markets provides proprietary trading platforms alongside MetaTrader 4 and ProRealTime. IG Markets is regulated by multiple top-tier authorities worldwide, including the FCA and ASIC. IG Markets is known for competitive spreads, extensive educational resources, and innovative features like weekend trading. The IG Markets’ parent company “IG Group” CEO is Breon Corcoran.
IG Markets Features
The features of IG Markets are listed below.
- 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.
IG Markets Pros and Cons
Advantages of IG Markets
The advantages of IG Markets are listed below.
- Low spreads from 0.6 pips on Forex
- Wide range of financial instruments
- 40 years of experience in the Forex industry
Disadvantages of IG Markets
The disadvantages of IG Markets are listed below.
- No copy trading features
- No social trading features
eToro
Best for social trading
eToro holds a license from the Swedish FI. eToro offers trading on over 1,000 instruments. eToro provides a website in Swedish. eToro sets the minimum deposit at USD100 for Swedish traders.
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About eToro
eToro is a global multi-asset investment platform founded in 2007, offering trading on stocks, ETFs, Crypto CFDs, commodities, and forex. eToro provides a proprietary web and mobile platform with social trading features. eToro is regulated by multiple authorities including FCA, ASIC, and CySEC. eToro is known for its user-friendly interface, copy trading functionality, and commission-free stock trading. eToro serves over 30 million users worldwide. The eToro CEO and co-founder is Yoni Assia.
eToro Features
The features of eToro are listed below.
- 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 USD 100.
- eToro only offers USD accounts, so Swedish traders may incur conversion fees when making deposits.
- The eToro website is available in Swedish.
eToro Pros and Cons
Advantages of eToro
The advantages of eToro are listed below.
- Great copy trading and social trading features
- Wide range of asset classes
- It allows to buy fractional stocks from $10
Disadvantages of eToro
The disadvantages of eToro are listed below.
- The eToro spreads can be high
- Offers only USD accounts
- Transferring cryptocurrencies to other platforms can be hard
FP Markets
Best for low spreads
FP Markets holds a Swedish FI license. FP Markets provides spreads starting at 0 pips. FP Markets requires a minimum deposit of €100 from Swedish clients. FP Markets offers MT4 and MT5 platforms in Sweden.
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About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- 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€.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
IC Markets
Best ECN service
IC Markets holds a license from the Swedish FI. IC Markets allows Swedish traders maximum leverage of 1:30. IC Markets requires no minimum deposit in Sweden. IC Markets offers MT4, MT5, and cTrader platforms.
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About IC Markets
IC Markets is a global forex and CFD broker founded in 2007 and based in Sydney, Australia. IC Markets offers trading on over 2,250 instruments including currencies, commodities, indices, stocks, and cryptocurrencies. IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader platforms. IC Markets is regulated by multiple authorities including ASIC and CySEC. IC Markets is known for its ECN execution model and low spreads. The IC Markets CEO is Andrew Budzinski.
IC Markets Features
The features of IC Markets are listed below.
- 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.
IC Markets Pros and Cons
Advantages of IC Markets
The advantages of IC Markets are listed below.
- Low-latency trading environment
- Institutional level liquidity
- MT4, MT5, cTrader platforms are all available
Disadvantages of IC Markets
The disadvantages of IC Markets are listed below.
- Small amount of educational tools for new traders
- Small range of tradable assets compared to other CFD/Forex brokers
XTB
Great educational sections
XTB holds a Swedish FI license. XTB offers trading in over 5,400 assets. XTB provides spreads from 0.3 pips. XTB does not require a minimum deposit. XTB incurs conversion fees due to lack of SEK accounts.
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About XTB
XTB is a global forex and CFD broker founded in 2002 and headquartered in Poland. XTB offers trading on over 2,000 instruments including currencies, stocks, indices, commodities, and cryptocurrencies. XTB provides the proprietary xStation platform and is regulated by multiple authorities including FCA, CySEC, and KNF. XTB is listed on the Warsaw Stock Exchange and serves over 897,500 clients worldwide. The XTB CEO is Omar Arnaout since March 2017.
XTB Features
The features of XTB are listed below.
- 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.
XTB Pros and Cons
Advantages of XTB
The advantages of XTB are listed below.
- No minimum deposit
- Wide selection of assets
- Competitive trading costs
Disadvantages of XTB
The disadvantages of XTB are listed below.
- Small withdrawal fee
- No social or copy trading
- XTB demo account is limited to 30 days
EasyMarkets
Good risk-management features
EasyMarkets holds a license from Finansinspektionen. EasyMarkets allows trading in over 100 forex pairs. EasyMarkets offers account funding in SEK. EasyMarkets sets a €25 minimum deposit for Swedish traders.
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About EasyMarkets
EasyMarkets is a global forex and CFD broker founded in 2001, offering trading on currencies, commodities, indices, cryptocurrencies, and stocks. EasyMarkets provides proprietary web and mobile platforms alongside MetaTrader 4 and 5. EasyMarkets is regulated by multiple authorities including CySEC and ASIC. EasyMarkets is known for innovative features like dealCancellation and fixed spreads. EasyMarkets serves clients worldwide and has received numerous industry awards. The EasyMarkets CEO is Nikos Antoniades.
EasyMarkets Features
The features of EasyMarkets are listed below.
- 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).
EasyMarkets Pros and Cons
Advantages of EasyMarkets
The advantages of EasyMarkets are listed below.
- Innovative Risk Management Tools
- User-Friendly Platform
- Regulatory Trust
Disadvantages of EasyMarkets
The disadvantages of EasyMarkets are listed below.
- Limited Tradeable Symbols
- Higher Spreads on Some Accounts
- Outdated User Experience
AvaTrade
Best for fixed spread
AvaTrade holds a license from the Swedish FI. AvaTrade charges fixed spreads starting from 0.9 pips. AvaTrade sets a minimum deposit at €100. AvaTrade offers a Swedish language website.
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About AvaTrade
AvaTrade is a global forex and CFD broker founded in 2006 and headquartered in Dublin, Ireland. AvaTrade offers trading on currencies, commodities, indices, stocks, bonds, ETFs, and cryptocurrencies. AvaTrade provides proprietary platforms alongside MetaTrader 4 and 5. AvaTrade is regulated by multiple authorities including CySEC, ASIC, and FSA. AvaTrade serves over 300,000 clients worldwide. AvaTrade is known for competitive spreads and extensive educational resources. The AvaTrade CEO is David Dryzin since 2016.
AvaTrade Features
The features of AvaTrade are listed below.
- 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.
AvaTrade Pros and Cons
Advantages of AvaTrade
The advantages of AvaTrade are listed below.
- Tight fixed spreads from 0.6 pips (0.9 pips for retail traders)
- The mobile apps are well designed
- Can be connected to ZuluTrade and Duplitrade
Disadvantages of AvaTrade
The disadvantages of AvaTrade are listed below.
- High inactivity fees
- The demo account is limited to 30 days
Interactive Brokers
Great for professional traders
Interactive Brokers holds multiple Swedish FI licenses. Interactive Brokers offers trading in 100 forex pairs. Interactive Brokers requires no minimum deposit. Interactive Brokers allows deposits in SEK.
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About Interactive Brokers
Interactive Brokers is a global electronic broker founded in 1978, offering trading in stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies across 150 markets in 33 countries. Interactive Brokers provides advanced trading platforms, low commissions, and access to a wide range of financial instruments. Interactive Brokers is known for its sophisticated technology and serves both retail and institutional clients. Interactive Brokers is regulated by multiple top-tier authorities worldwide. The CEO of the Interactive Brokers Group is Milan Galik.
Interactive Brokers Features
The features of Interactive Brokers are listed below.
- 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.
Interactive Brokers Pros and Cons
Advantages of Interactive Brokers
The advantages of Interactive Brokers are listed below.
- Low Trading Fees
- Advanced Trading Tools
- Wide Market Access
Disadvantages of Interactive Brokers
The disadvantages of Interactive Brokers are listed below.
- Not user-friendly
- No MetaTrader Support
- Additional Fees
XM
Best for beginners
XM holds a license from the Swedish FI. XM offers a Swedish language website. XM provides trading in over 55 forex pairs. XM allows leverage of 1:30 for Swedish clients.
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About XM
XM is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. XM provides MetaTrader 4, MetaTrader 5, and proprietary platforms. XM is regulated by multiple authorities including CySEC, ASIC, and IFSC. XM is known for competitive spreads, extensive educational resources, and multilingual customer support. XM serves over 5 million clients from 196 countries. XM offers various account types and a no-requote policy.
XM Features
The features of XM are listed below.
- 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 retail clients is 1:30.
XM Pros and Cons
Advantages of XM
The advantages of XM are listed below.
- There’s a wide range of account types
- The demo account at XM is unlimited
- Wide range of educational resources
Disadvantages of XM
The disadvantages of XM are listed below.
- No social trading features available
- The account availability changes depending on the location of the trader
- High minimum deposit to invest in securities ($10000 for the XM Shares account)
HF Markets
Wide range of trading accounts
HF Markets holds a license from the Swedish FI. HF Markets allows trading in over 1,000 CFDs. HF Markets requires no minimum deposit. HF Markets offers an unlimited demo account for Swedish clients.
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About HF Markets
HF Markets, formerly known as HotForex, is a global multi-asset broker founded in 2010. HF Markets offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader platforms. HF Markets is regulated by multiple authorities including CySEC, FCA, DFSA, and FSCA. HF Markets serves clients worldwide and is known for competitive trading conditions and extensive educational resources. HF Markets recently rebranded to emphasize its expanded product range. The HF Markets Group CEO is George Koumantaris.
HF Markets Features
The features of HF Markets are listed below.
- 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 €0, 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.
HF Markets Pros and Cons
Advantages of HF Markets
The advantages of HF Markets are listed below.
- High Leverage Options
- Low Minimum Deposit
- Wide Range of Trading Instruments
Disadvantages of HF Markets
The disadvantages of HF Markets are listed below.
- Higher Trading Costs
- Limited Educational Resources
Is forex trading legal in Sweden?
Yes, forex trading is legal in Sweden.
The local 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 should Swedish traders 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.
Here are 3 more 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?
Forex trading in Sweden is taxable.
Capital gain on forex trading is taxable as investment income.
Both investment income and capital gain are subject to a flat 30% rate.