Best Forex Brokers in Sweden 2022

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.

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. HotForex: 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.

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.

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.

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€.

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.

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).

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.

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.

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.

10. HotForex

• 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.

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.