Best Forex Brokers Romania 2022

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

After opening a real account and depositing between $4K to 6K with each broker we placed trades in each popular market to get an accurate picture.

We also contacted customer support to see their dedication and the ability of solving problems. At last, to check the withdrawal process we withdrew our funds.

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

Is Forex Trading available in Romania

With a population of about 20 million, Romania is considered one of the largest economies in Eastern Europe. The country joined the European Union in 2007. Since then Romania has been trying to catch up with other member countries in terms of productivity. As of today, Romania is still using its national currency (Leu), though the currency is scheduled to be replaced by the euro in 2024.

Forex trading in Romania is available and is regulated by the National Bank of Romania, under Regulation No. 4/2005.

The National Bank of Romania’s website is www.bnr.ro.

According to the country’s legislation, everybody has access to forex trading in Romania. However, brokers that offer their services in the country have to hold licenses from the local regulatory body.  Forex brokers Romania are authorized by the Financial Supervisory Authority.

Being a member of the EU, Romania follows all the regulations of the European MiFID financial harmonization law. According to the latter, all the European brokers are available in the country. Also, the country follows certain restrictions set by the ESMA (European Securities and Markets Authority). According to these restrictions, there are no available bonuses or promotions for CFDs in the country.

🏦Regulator	The National Bank of Romania
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	Yes
💰Compensation Scheme	Yes

Best Forex Brokers in Romania

Finding a reliable forex broker is one of the most important decisions in forex trading. When choosing a forex broker Romania, traders should take into account that in the country there are brokers that fall under the local regulations, also, Romanians can trade and open account with all European Regulated Broker.

However, before signing with a certain broker, it is important to make sure that the broker is trustworthy and properly regulated. Traders should pay attention to the offerings of the broker, and see whether they meet their trading needs. Traders are encouraged to check what payment methods the broker supports. Also, whether the broker provides customer support in the preferred language.

To select the best forex brokers Romania, we have tested and reviewed various brokers. Based on our tests, we recommend trading with the following brokers that we have selected as the best forex brokers Romania:

• eToro
• ThinkMarkets
• Plus500
• XM

Best Online Forex Broker Romania Overall

We picked Plus500 as the best overall forex broker Romania.  

Plus500 was founded in 2008 and is headquartered in Israel. The broker holds licenses in the United Kingdom, Cyprus, Seychelles, Singapore, and Australia. Plus500 offers trading instruments in the following categories: forex pairs and CFDs of stocks, indices, cryptocurrencies, ETFs, and options. Plus500 is suitable both for retail and professional traders. 

Based on our tests, Plus500 fees are built into the spreads. Generally, the broker’s spreads for forex and ETFs are on the lower side. On the other hand, spreads on indices, commodities, stocks, and cryptocurrencies are slightly higher.

Both deposits and withdrawals on Plus500 are fast and easy. The broker offers a number of options for deposits: credit/debit card, ApplePay, and PayPal, bank transfers. With Plus500 traders can conduct their trading on the brokers’ proprietary platform. The platform is quite clear and user-friendly. 

Best Forex Broker for Beginners in Romania

We picked XM as the best forex broker Romania for beginners.

XM is a Forex and CFDs broker that offers traders favorable conditions for trading. The broker holds licenses in Australia, the United Kingdom, Cyprus, UAE, Belize. With XM a variety of tradable instruments are available: forex pairs, indices, stocks, and commodities.

XM has many benefits and advantages as a broker. One of them is its excellent education. We have picked XM as the best forex broker Romania for its favorable offerings in this respect. The broker offers Tradepedia videos that provide high-quality and prompt instructions for beginners all over the world. Besides, traders can join the broker’s weekly webinars available in different languages.

Best MT4 Forex Broker in Romania

We picked ThinkMarkets as the best MT4 forex broker Romania.

ThinkMarkets was founded in 2010. It is a forex and CFDs broker based in Australia. The broker holds licenses in Australia, the United Kingdom, South Africa, and Seychelles. ThinkMarkets offers a number of instruments in different categories: forex, indices, commodities, cryptocurrencies, and shares CFDs.

The broker offers attractive spreads in almost all categories. Generally, the spreads are below the industry benchmark. The broker has two main account types: Standard and ThinkZero. 

We have chosen Think Markets as the best MT4 forex broker Romania, as the broker enables traders to conduct their trades both on MT4, and MT5 platforms. Also, the broker has its proprietary market. However, the MT4 platform is rather favorable for trades, including the best tools and features. 

Lowest Spread Forex Broker for Romania

We picked eToro as the best low-spread forex broker Romania.

Founded in 2006, eToro is headquartered in Tel Aviv, Israel. The broker is licensed in several jurisdictions: the UK, USA, Australia, and Cyprus. With eToro traders can conduct their trading in multiple markets: forex, indices, commodities, stocks, ETFs, and cryptocurrencies.

For real stocks, eToro offers commission-free trading.  However, for CFDs, the commission is included in spreads. Based on our tests, we have picked eToro as the best low-spread forex broker Romania. This is due to the fact that eToro’s spreads proved to be lower than the industry average in almost all the markets. Only for cryptocurrencies, the spreads are slightly on the higher side.

Top Forex Brokers Romania List

Besides the best forex brokers provided above, here is an extended list of the forex brokers Romania.

Forex Broker Romania	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

FAQ and More on Forex Trading in Romania

There are many questions that may interest Romanian traders. We tried to choose and answer some of the most essential queries related to the forex brokers Romania.

How to Verify Romania Regulated Broker?

Taking into consideration that Romania is an EU member, almost all the European brokers are available for trades. To verify a forex broker Romania, traders should first check whether it falls under the ESMA regulation. This information can easily be confirmed on the ESMA website. However, to be completely safe, it is also advisable to look for the information on the broker’s website. Generally, brokers list the available countries for forex trading and the countries with restrictions to trade.

Make sure, that the forex broker Romania is properly licensed by a trustworthy regulator, as in forex trading money safety goes first. It is advisable to avoid offshore brokers, no matter how attractive their offerings may seem.

Forex Brokers with Demo Accounts

Forex demo accounts are a great way to learn how trading works and practice on different platforms. They are also good for experienced traders who want an environment where they can test strategies without risking any real money.

Based on our tests, we have come up with some of the forex brokers Romania with the best demo accounts:

• Pepperstone
• Plus500
• AxiTrader

Cent Forex Brokers Romania

Cent forex accounts calculate and maintain balance in the lowest fungible form of a currency.  They are commonly used by beginner traders, however, professional traders also prefer using them when testing new strategies.

Based on our data, we picked XM as one of the best forex brokers Romania with a cent account.

Top Forex Brokers with High Leverage

Generally, in the country, there are some restrictions on the maximum leverage forex brokers Romania can offer when trading CFDs. For major currency pairs, the leverage is limited to 30:1. However, for minor forex pairs, such as gold, the leverage is limited to 20:1, for commodity CFDs it is 10:1. 

Tax in Romania for Forex Trading

The tax system in Romania is based on worldwide income and not just domestically sourced ones. This means that residents are responsible to pay taxes even if those earnings come about through services performed entirely outside of the borders. However, non-residents pay taxes only for the income gained from Romanian sources. The tax rate at present is 10%.

Traders are recommended to keep track of regulations and be aware of their tax responsibilities. Tax avoidance or delay in paying can result in fines and unnecessary complications.