To come up with this list, we have tested more than 15 forex brokers authorized and operating in Austria.

We opened a real account and deposited between €4,000 and €6,000 with each broker. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex brokers in Austria based on our trading data and experience as a trader.

FMA Regulated Forex Brokers

The Financial Market Authority (FMA) oversees all financial services firms in Austria, including forex brokers. However, the European Economic Area-regulated brokers do not need to obtain an additional operational license from the Austrian regulator.

The FMA was established in 2002 and its role extends in regulating banks, investment firms, investment service providers, and stock exchange companies, among others, all operating in Austria.

The FMA’s official website is www.fma.gv.at, which is available in both German and English. The regulator does not have any social media presence, so we suggest traders and investors regularly check its official website for receiving key updates.

Being a part of the European Economic Area (EEA), Austria allows forex brokers regulated by any regulator within the wider jurisdiction, as long as they are operating in line with Austria’s local framework. 

The FMA, however, keeps a keen eye on the industry and actively flags any suspicious or non-compliant firms offering services within its jurisdictions. The regulator also maintains a blacklist of companies to further warn investors.

The FMA follows the European Market Infrastructure Regulation (EMIR) to regulate the financial service providers. Its caps offered leverage on major currency pairs to 30:1 and also mandates brokers to provide negative balance protection.

FMA also offers a compensation scheme of up to €20,000 to each and every regulated brokerage client, protecting their deposits.

Some of the key highlights of trading with FMA-regulated brokers:

🏦RegulatorFinancial Market Authority (FMA)
📊Max. Leverage30:1
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeYes (€20,000)

Best Forex Brokers in Austria

To select the best regulated forex brokers operating in Austria, we have tested and reviewed several forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. With our test, we got a picture of the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services.

  • Pepperstone – Best Overall Forex Broker in Austria
  • XM – Best Forex Broker for Beginners in Austria
  • Tickmill – Best MT4 Forex Broker in Austria
  • CMC Markets – Best Forex Trading Platform in Austria
  • eToro – Best Copy Trading Platform in Austria

Best Overall Forex Broker in Austria

We picked Pepperstone as the overall best forex broker in Austria. 

Pepperstone is an Australian forex and CFDs broker established in 2010. It operates in Europe with its licenses from regulators in Germany and Cyprus, and is also regulated in the UK, Bahamas, UAE, and Kenya.

The broker lists around 158 trading instruments, mostly currency pairs and CFDs of indices, stock, commodities and cryptocurrencies. It offers spreads much lower than the industry average and does not have any other prominent trading or non-trading fees. It facilitates trading services on MT4, MT5 and cTrader platforms, and also has excellent customer support services.

Best Forex Broker for Beginners in Austria

We picked XM as the best forex broker for beginners in Austria. 

XM is another reputed broker that onboards Austrian clients under its entity regulated in Cyprus. The broker offers excellent educational resources, from forex guides to platform tutorials. It also conducts forex webinars and seminars, which are very helpful for the beginner, as well as advanced, traders.

XM provides trading services on both MT4 and MT5, two of the industry-standard platforms. Its offerings include a good analysis of the markets as well and also provides in-house research, trading ideas, technical summaries, and much more. It also has a good range of products with no limits in trading conditions.

Best MT4 Broker in Austria

We picked Tickmill as the best MT4 broker in Austria. 

Tickmill, which operates in Austria with its Cypriot license, is an excellent broker when it comes to trading on MetaTrader 4 and MetaTrader 5. It provides excellent indicators and charting tools for the analysis of markets. It lists around 85 trading instruments that include currency pairs and CFDs of indices, commodities, and cryptocurrencies.

Tickmill was founded in 2010 and is also regulated in the UK, South Africa, Seychelles, and Labuan (Malaysia). The broker offers three account types, and leverage for European clients are capped at 30:1.

Best Forex Trading Platform in Austria

We picked CMC Markets as the best forex trading platform in Austria.

Headquartered in London and operating in Austria with a German license, CMC Markets is one of the best when it comes to forex trading, solely because of the number of listed currency pairs. The broker lists 339 forex pairs, more than most of the top forex trading platforms. It also offers trading with CFDs of indices, stocks, commodities, and cryptocurrencies, along with spread-betting.

CMC further offers excellent trading conditions without any restrictions on strategies, meaning trading can run both hedging and scalping. It, however, does not allow traders to change leverage levels.

Best Copy Trading Platform in Austria

We picked eToro as the best copy trading platform in Austria.

eToro made its name in copy trading and is also by far the best platform when it comes to copy trading services. It has a massive community of expert traders who are letting their trading strategies be copied by rookie traders. The broker maintains transparency and shows the expert traders’ trading history and experience level, along with other key parameters.

eToro is also a full brokerage and is licensed in the USA, the UK, Australia, and Cyprus. It takes clients from Austra under its Cyprus Investment Firm license.

FMA-Regulated Forex Brokers List & Review

Here is a list of the regulated forex brokers operating in Austria, which we have tested by opening real accounts, depositing real money, executing trades, and then withdrawing all funds.

Forex BrokerEU RegulatedAbout Our TestOur Review
FBSYesDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GO MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
Fortrade YesDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review
RoboMarkets (RoboForex)YesDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets Review
IC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
FXTM YesDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
Capital.comYesDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
FxProYesDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
PepperstoneYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
Amana CapitalYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
FxPro YesDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
XTB YesDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
eToroYesDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
TickmillYesDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Plus500YesDeposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review

FAQ & More on Austrian Brokers

Traders usually have many questions related to trading generic trading-related queries. We tried to pick and answer some of the most important queries related to AMF-regulated brokers.

How to Verify FMA-Regulated Brokers?

Austria’s Financial Market Authority (FMA) maintains a database of all authorized companies, including forex and CFDs brokers, that are allowed to offer services in the country.

To check the regulatory status of any broker, go to www.fma.gv.at/en/search-company-database/ and type the name of the broker to see their license status. The regulator will show the details of all similarly named firms, along with their regulatory details. It also allows search by category that shows the list of all firms.

eToro FMA Authorization

ECN Brokers in Austria

ECN brokers directly connect forex and CFDs buyers and sellers over an automated bridging network. These brokers offer raw spreads, but charge a commission on each trade. Some of the ECN forex brokers operating in Austria are:

  • FBS
  • Dukascopy
  • FXTM

MT4 Forex Brokers in Austria

As MT4 remains the most used desktop client for trading forex and CFDs instruments, many brokers are offering it despite adding some other advanced and modern trading platforms. Some of the Austrian brokers offering the MT4 platform are:

  • XM 
  • Tickmill
  • Pepperstone

Low Spread Forex Brokers in Austria

Spread is the difference between the bid and ask prices of any financial instruments. Brokers usually make money from spreads, so it is in their interest to keep them on the higher side. Some of the brokers offering low spreads in Austria are:

  • Admiral Markets
  • GO Markets
  • ActivTrades

Swap Free Forex Brokers in Austria

Swap-free accounts are compliant with Sharia law and designed specifically for Islamic traders. Some of the Austrian forex brokers offering swap-free accounts are:

  • GO Markets
  • RoboMarkets
  • IC Markets

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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