Best Forex Brokers in Sweden 2022

filippo ucchino Filippo Ucchino calendar Last Updated: October 2022 timer 8 Min Read

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

  1. IG Markets: Best forex broker overall
  2. eToro: Best for social trading
  3. IC Markets: Best ECN service
  4. FP Markets: Best for low spreads
  5. XTB: Great educational sections
  6. easyMarkets: Good risk-management features
  7. AvaTrade: Best for fixed spread
  8. Interactive Brokers: Great for professional traders
  9. XM: Best for beginners
  10. 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

Top 10 forex brokers in Sweden: review 2022

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
(78% 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 0.7 pips.
  • At easyMarkets it is possible to trade on MT4.
  • The maximum forex leverage for retail clients is 1:30 (1:400 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
(70.77% 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.

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.

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