Best Forex Brokers Greece 2022

To come up with this list, we have tested forex brokers Greece.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Afterwards, we placed trades in each popular market to get the actual picture. 

We also reached out to customer support to solve issues that we had encountered. To check the withdrawal process we withdrew our funds.

We handpicked the best forex brokers Greece based on our trading data and experience as a trader.

Is Forex Trading Greece legal?

Forex brokers in Greece are subject to rigorous regulation by the Hellenic Capital Market Commission (HCMC), which is responsible for regulating both securities markets and over-the-counter products. The Hellenic Capital Market Commission is a legal entity established by Law 1969/91 and organized in compliance with 2324. It aims to ensure protection, orderliness, or efficiency within the capital markets it regulates. The HCMC is a Member of the European Securities and Markets Authority (ESMA) and operates within its framework and under its authority.

The Hellenic Capital Market Commission’s website is www.hcmc.gr.

Being a part of the EU, Greek Forex traders have access to a variety of financial markets through the European Union. In addition, Greek brokers offer services for both domestic and international clients under MiFID rules. Most European forex brokers are available for Greek clients and they are considered trustworthy and safe.

During the last years, Greece faced an economic crisis. However, the country has been able to overcome the difficulties and the market is stable at present.

🏦Regulator	Hellenic Capital Market Commission (HCMC)
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	Yes
💰Compensation Scheme	Yes

Best Forex Brokers in Greece

When Greece residents first start Forex trading, finding a reliable broker is, perhaps, one of the most important decisions to make. When choosing a broker, there are a number of important aspects to pay attention to. Most importantly, traders should pick a strictly regulated broker. This is of utmost importance, as the market is full of scams nowadays. Thus a regulated broker will save the traders from a lot of headaches and financial loss.

In Greece, due to local regulation, there are many reliable local brokers. There are also brokers that accept traders from Greece. As the country is a EU member all the European brokers accept Greek traders due to ESMA regulations.

We recommend signing only with reliable firms so that the safety of your money is never compromised. Also, before signing with a broker, traders should verify if the accounts are supported by necessary payment methods. Another important aspect to consider is customer support. Check whether the customer support team provides services in Greece.

To select the best forex brokers Greece, we have tested and reviewed various brokers. For our tests, we opened a live account, deposited real money, and placed real trades with each broker.

Based on our tests, we recommend trading with the following brokers that we have selected as the best forex brokers Greece:

• Capital.com
• FP Markets
• AvaTrade
• Plus500

Overall Best Forex Brokers for Greece

We picked FP Markets as the overall best forex broker Greece. 

The broker offers a wide range of trading instruments with forex, stocks, indices, commodities, and cryptocurrencies. FP Markets stands out for its forex ECN pricing. FP Markets holds licenses in multiple jurisdictions: the United Kingdom, Australia, Cyprus, Saint Vincent, and the Grenadines.

The broker’s spreads are lower than the industry average, especially for forex and indices. Spreads on stocks, commodities, and cryptocurrencies, are mostly on the average benchmark. 

The broker offers to trade on MT4, MT5, and IRESS platforms. FP Markets accounts are based on its trading platforms: Standard and Raw account for MetaTrader platforms and Standard, Platinum, and Premier accounts for IRESS.

Best Forex Brokers for Beginners in Greece

We picked Capital.com as the best forex broker Greece for beginners.

Capital.com is a forex and CFDs broker. Founded in 2016, it is headquartered in London and the United Kingdom. With the broker, traders have access to the following trading categories: forex, indices, commodities, cryptocurrencies, and stock CFDs. The broker holds licenses in the United Kingdom, Cyprus, and Belarus.

We have picked Capital.com as the best forex broker Greece for beginners, as its educational section is exceptional. By signing with the broker, traders will gain access to detailed courses on trading, video guides, webinars, glossary, in-depth articles, and a demo account.

Best MT4 Forex Broker for Greek traders

We picked AvaTrade as the best MT4 broker in Greece. 

Founded in 2006 AvaTrade is headquartered in Dublin, Ireland. The broker is regulated in Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands. AvaTrade offers multiple instruments in the following categories: forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

With AvaTrade clients have access to multiple trading platforms: MetaTrader 4, MetaTrader 5, WebTrader (AvaTrade’s proprietary web-based platform), AvaOptions (forex vanilla options), AvaTradeGo (for mobile trading). We have picked AvaTrade as the best MT4 forex broker in Greece, as its MT4 platform is very clear and easy to use. Also, it includes all the necessary tools and features for conducting favorable trades.

Best Low Spread Forex Companies Greece

We picked Plus500 as the best low spread forex broker in Greece.

Plus500 was founded in 2008. The broker is headquartered in Israel. The broker is regulated in multiple jurisdictions and holds licenses in Seychelles, Singapore, and Australia. Plus500 offers trading services with forex pairs and CFDs of stocks, indices, cryptocurrencies, ETFs, and options. 

Plus 500 offers the following deposit methods: credit/debit cards, bank transfers, and two popular electronic wallets, PayPal and Skrill. Plus500 offers its own trading platform. The platform is easy to use and user-friendly, yet it cannot be customized.

Based on our test, the broker’s spreads are consistent. Plus500 spreads for forex and ETFs are much lower than the industry average. On the other hand, spreads on indices, commodities, stocks, and cryptocurrencies are on the industry average or slightly higher.

Greece Forex Brokers List

There are many brokers available to Greek traders. We have tested them and come up with an impressive list.

Greece Forex Broker	About Our Test	Our Review
eToro	Deposit Amount: Over $6,000 Total Trade: 18 trades	eToro Review
Plus500	Deposit Amount: Over €6,000 Total Trade: 18 trades	Plus500 Review
AXI (AxiTrader)	Deposit Amount: Over €6,000 Total Trade: 12 trades	AXI Review
XM	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
Admiral Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
Pepperstone	Deposit Amount: Over €6,000 Total Trade: 12 trades	Pepperstone Review
Vantage FX	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
ThinkMarkets	Deposit Amount: Over €5,000 Total Trade: 15 trades	ThinkMarkets Review
GO Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	GO Markets Review
ICM Capital	Deposit Amount: Over €5,000 Total Trade: 12 trades	ICM Capital Review
INFINOX	Deposit Amount: Over €4,000 Total Trade: 9 trades	INFINOX Review
Capital.com	Deposit Amount: Over €3,500 Total Trade: 15 trades	Capital.com Review
Darwinex	Deposit Amount: Over €5,000 Total Trade: 12 trades	Darwinex Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
FXTM	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Tickmill	Deposit Amount: Over €8,000 Total Trade: 12 trades	Tickmill Review
Trading 212	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review

FAQ and More on Forex Trading in Greece

There are often a lot of questions related to trading in Greece. We tried to choose and answer some of the most essential queries related to the brokers available in the country.

How to Verify Greece Regulated Broker?

In Greece, traders should make sure that the broker falls under ESMA regulation. This can easily be confirmed on the ESMA website. Besides, the main regulatory body in Greece that oversees the financial market and Forex trading is the Hellenic Capital Market Commission. Traders can also verify a Greece broker on the regulator’s official website.

However, it is better safe than sorry, so it is always advisable to double-check any information that is connected with your money safety. You can confirm the broker’s availability on the broker’s official website.

High Leverage Forex Brokers

Leverage is known as the borrowed money by a trader to invest in a trading instrument. High leverage is available in Greece for both professional traders and retail traders. They can open accounts with a Swiss broker, for instance, Dukascopy. Traders should pay attention to the reliability of the broker, as the majority of offshore brokers offer high leverage, yet, no matter how attractive their offerings seem, it is recommended to avoid offshore brokers.

According to the ESMA’s guidelines, the high leverage for retail traders is limited to 30:1. However, for professional traders, the leverage can be higher – up to 500:1. 

Tax in Greece for Forex Trading

In Greece, forex trading is subject to taxation. Generally, a tax of 15% is applied to the profits gained from forex trading.

Traders must remember that the responsibility of taxes is fully on them. Any kind of avoidance or delay may lead to unpleasant complications and fines.