- Best Forex Broker
- 5 Best Forex Brokers in Finland
[year] - Forex Trading in Finland
Affiliate Disclosure
Christopher Lewis
I have conducted an in-depth analysis below to determine the most competitive Forex brokers currently offering their services in Finland and considered which have the best trading conditions. Beginner traders will also benefit from my tips, which will help them start their Forex trading journey in Finland.
Read more on FXTM
1
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
VPS hosting for 24/5 low-latency Forex trading & Six plugins upgrade the MT4 platform.
Quality educational content and market research for beginners & Euro-denominated accounts.
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Read more on FXTM
Read more on FP Markets
2
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
24/7 multi-lingual customer support & quality beginner educational content.
A well-balanced asset selection, including cryptocurrency and ETF CFDs.
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Read more on FP Markets
Read more on AvaTrade
3
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Finish language website & regulation by the Central Bank of Ireland and CySEC
A commission-free pricing environment with reasonable spreads & a well-balanced asset selection
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Read more on AvaTrade
Read more on Eightcap
4
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Funding via bank wire and credit/debit cards is supported with a €100 minimum deposit requirement.
Quality beginner educational material and trade research via Eightcap Labs and Eightcap Trade Zone.
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Read more on Eightcap
Read more on Pepperstone
5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Same-day customer withdrawals & an innovative trading infrastructure.
24/5 + 18/2 customer support & CySEC and BaFin regulated subsidiaries.
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Read more on Pepperstone
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How we rank our brokers
- FXTM, Best all-around broker with high floating leverage and fast execution.
- FP Markets, ECN trading with leverage up to 1:500.
- AvaTrade, Highly regulated, choice of fixed or floating spreads.
- Eightcap, Competitive pricing + excellent daily videos.
- Pepperstone, Great ECN execution on MT4 platform.
Best Finland Brokers Comparison
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Regulators | CMA, CySEC, FCA, FSC Mauritius, FSCA | ASIC, CySEC, FSCA | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | ASIC, CySEC, FCA, SCB | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Year Established | 2011 | 2005 | 2006 | 2009 | 2010 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP | Market Maker | ECN/STP, Market Maker | No Dealing Desk, NDD |
Minimum Deposit | $500 | $100 | $100 | $100 | $200 |
Average Trading Cost EUR/USD | 0.1 pips | 1.1 pips | 0.9 pips | 1.0 pips | 1.1 pips |
Average Trading Cost GBP/USD | 0.2 pips | 1.4 pips | 1.5 pips | 1.2 pips | 1.6 pips |
Average Trading Cost Gold | $0.18 | $0.21 | $0.29 | $0.12 | $0.20 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | Other, MetaTrader 4, MetaTrader 5, Web-based+ | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, cTrader, Trading View |
Islamic Account | |||||
Negative Balance Protection | N/A | ||||
| Visit Website | Visit Website | Visit Website | Visit Website | Visit Website |
FXTM
5.0/5 in this category
In Summary
Best all-around broker with high floating leverage and fast execution
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In Summary
Best all-around broker with high floating leverage and fast execution
Forex traders at FXTM benefit from an ultra-competitive pricing environment with a low minimum deposit requirement of €500. The FXTM Advantage account features raw spreads from 0.0 pips with a trade ticket commission of $0.80 - $4.00 per 1.0 standard round lot. FXTM also deploys innovative price improvement technology, resulting in an average cost improvement of $3.00 per lot. It makes FXTM the best broker among my Forex brokers in Finland in terms of overall trading fees.
Finnish-resident Forex traders benefit from a €20,000 investor compensation fund, segregated client deposits, and negative balance protection, available from the CySEC-regulated subsidiary, which is fully compliant with European ESMA rules and regulations.
Pros
Excellent commission-based Forex pricing environment and transparency
Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
Quality market research and educational content for beginner traders
A highly regulated broker with a tier-1 license
Cons
No cryptocurrencies and limited choice ofcommodities
READ FULL FXTM REVIEW
READ FULL FXTM REVIEW
FP Markets
5.0/5 in this category
In Summary
ECN trading with leverage up to 1:500
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Get Started
In Summary
ECN trading with leverage up to 1:500
FP Markets upgrades MT4/MT5 via a 12-plugin package; this makes the broker one of the best options within my Forex brokers in Finland listing regarding comprehensive trading platform technology on offer. Traders may also use the cTrader and IRESS platforms. With a €50 minimum deposit requirement, traders are offered the CySEC-regulated entity, a trustworthy trading environment, the ability to use Euro deposits, and the choice of fast and convenient payment processors.
Traders can access spreads from 0.0 pips with a ticket-based commission from $6.00 per 1.0 standard round lot in the FP Markets Raw account. VPS hosting offers 24/5 low-latency Forex trading, and FP Markets fully supports algorithmic trading and scalping strategies.
Pros
Choice of trading platforms and auxiliary trading tools
Very competitive cost structure and excellent asset selection
Low minimum deposit requirement and leverage of up to 1:500
Well-regulated and trustworthy
Cons
Availability of Iress geographically restricted
READ FULL FP Markets REVIEW
READ FULL FP Markets REVIEW
AvaTrade
5.0/5 in this category
In Summary
Highly regulated, choice of fixed or floating spreads
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In Summary
Highly regulated, choice of fixed or floating spreads
The spun-out Ava Academy provides beginners with industry-leading educational content, making AvaTrade one of the best choices for beginners from my Forex brokers in Finland listing. Beginners can also benefit from trading tools like Guardian Angel for MT4 and specialized Ava Option and Ava Social trading platforms. It also features a high-paying affiliate program with 145,000 registered partners and $300,000,000+ in commission payouts made to date.
AvaTrade offers its own proprietary WebTrader and mobile app - AvaTradeGO, with Trading Central access; MT4/MT5 platforms are available for algorithmic and copy traders and third-party copy trader DupliTrade. VPS hosting ensures 24/5 low-latency Forex trading at this EU-headquartered Forex broker with an excellent market reputation.
Pros
High-quality educational offering via SharpTrader
Excellent choice of trading platforms catering to various trading needs
Broad asset selection and cross-asset diversification opportunities
Well-regulated and trusted broker with oversight from a central bank
Cons
Trading costs competitive but nothing special
READ FULL AvaTrade REVIEW
READ FULL AvaTrade REVIEW
Eightcap
4.5/5 in this category
In Summary
Competitive pricing + excellent daily videos
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In Summary
Competitive pricing + excellent daily videos
Eightcap offers an AI-powered economic calendar and connects trading accounts to the popular TradingView software, where 50M+ traders exchange ideas and trade information. It makes it the best broker within my Forex brokers in Finland listing for social trading. Unlike most brokers, Eightcap caters to Finnish-resident Forex traders from its FCA-regulated subsidiary in the UK, outside of the EU, with special permissions.
Traders get 24/5 customer support, and Eightcap has no restrictions on permitted trading strategies. The commission-free cost structure offers reasonable value, with minimum spreads from 1.0 pip or $10 per 1.0 standard lot on the MT4 trading platform. A good range of assets is available.
Pros
Low minimum deposit and high leverage of up to 1:500
Competitive cost structure
Excellent technology infrastructure and seasoned management team
Daily research and quality educational content
Cons
Limited leverage in some areas
READ FULL Eightcap REVIEW
READ FULL Eightcap REVIEW
Pepperstone
4.5/5 in this category
In Summary
Great ECN execution on MT4 platform
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Get Started
In Summary
Great ECN execution on MT4 platform
Traders at Pepperstone benefit from access to Capitalise AI, which supports algorithmic trading in a code-free environment. This useful trading tool makes Pepperstone stand out from most other Forex brokers. Therefore, Pepperstone ranks as the broker with the most advanced trading environment within my Forex brokers in Finland listing.
Pepperstone also offers the Smart Trader Tools upgrade package for MT4/MT5, which consists of 28 separate plugins and Autochartist software. Traders may also use the cTrader platform or connect their accounts to TradingView, where 50M+ traders interact and share ideas. Competitive trade ticket commission-based fees and a wide selection of tradable instruments make Pepperstone ideal for algorithmic traders and scalpers.
Pros
Excellent choice of trading platforms consisting of MT4/MT5, and cTrader
Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
Leverage of up to 1:30 and superb trade execution
Cons
Demo accounts have 30-day time limits
READ FULL Pepperstone REVIEW
READ FULL Pepperstone REVIEW
Forex Trading in Finland
Finland ranks amongst the wealthiest nations globally and boasts an excellent educational system. Algorithmic trading and copy trading via mobile apps are popular in the country, and all the brokers within my Forex brokers in Finland listing support those types of strategies. Finland does not have well-known domestic Forex brokers, but dozens of EU-regulated firms cater to Finnish-resident Forex traders.
What to Look for in a Forex Broker from Finland
- Regulation - A clean EU regulatory history spanning 10+ years.
- Low trading fees - Competitive trading fees and low swap rate mark-ups, including positive swaps on relevant instruments.
- Trading platforms - Algorithmic, copy, and mobile trading capabilities.
- Asset diversity - A balanced choice of liquid trading instruments.
- Deposits/Withdrawals - No deposit fees and low minimum requirements.
Forex Trading Regulations in Finland
The Financial Supervision Authority (FIN-FSA) is the domestic financial regulator that ensures all Forex brokers accepting Finish traders comply with ESMA rules and regulations, including the Markets in Financial Instruments Directive II (MiFID II). Most brokers from our Forex brokers in Finland review serve Finnish-resident Forex traders from an EU-based subsidiary.
Forex Leverage Availability in Finland
Per ESMA restrictions, since 2018, Finnish retail Forex traders are limited to a maximum Forex leverage level of 1:30. Traders defined as ‘Professional’ can increase this to 1:500, an option available with all brokers within my Forex brokers in Finland listing.
How to Start Forex Trading in Finland?
Beginners should consider my tips below, which will shorten their learning curve and highlight areas of study they should focus on to stand a better chance of succeeding.
- Focus on gaining an in-depth education.
- Forex trading is a highly skilled profession. Approach and respect it as one.
- Trading psychology and managing emotions separate up to 90% of unprofitable traders from profitable ones.
- Learn the leverage/risk management relationship.
- Leverage magnifies both profits and losses.
- Risk management is as important as the trading strategy you seek to deploy.
- Select a trading strategy that reflects your personality and individual strengths.
- Low trading fees will determine a competitive trading environment, particularly in highly active strategies.
- Master the use of orders to manage trading such as take profit and stop loss placement.
What is the Best Trading Platform in Finland
Since algorithmic trading accounts for 80%+ of daily Forex trading volume, MT4, the industry leader in algorithmic Forex trading, is considered the best trading platform in Finland. It is available at all Forex brokers from my Forex brokers in Finland listing.
Forex Trading Taxation in Finland
Forex traders in Finland must pay taxes, and our Forex brokers in Finland review found that retail traders must pay the tax in advance based on estimated revenues. At the end of the fiscal year, Forex traders either pay taxes or get a refund based on actual earnings.
Potential Forex trading taxes in Finland consist of the following:
- 30% capital tax rate on income below €30,000
- 34% capital tax rate on income above €30,000
Or
- 12.64% income tax if income is less than €19,900
- 19.00% income tax if income is less than €29,700
- 30.25% income tax if income is less than €49,000
- 34.00% income tax if income is less than €85,800
- 44.00% income tax if income exceeds €85,800
Forex traders in Finland should consult a legal professional to seek individual tax advice in Finland to ensure compliance with local rules and regulations.
Pros & Cons of Forex Trading in Finland
Traders should consider the pros and cons of Forex trading in Finland.
The pros of Forex trading in Finland are:
- 24/5 decentralized market
- Lower capital requirements than other investments
- Low-latency algorithmic trading
- Copy and social trading via mobile apps
- Passive income opportunities
The cons of Forex trading in Finland are:
- Restrictive retail leverage
- No bonuses or incentives
- Manual trading in an algorithm-dominated market
- Emotion-based decision-making
- Disrespect for Forex trading as a high-skilled profession
- False sense of accomplishment from demo trading
- Disconnect between leverage and its relationship to risk management
Bottom Line
Finland is a small and wealthy Forex market but lacks its own domestic-based Forex brokers. As part of the EU, well-regulated brokers, usually from Cyprus and the UK, cater to Finnish-resident Forex traders. The brokers within my Forex brokers in Finland listing rank among the best choices currently, as they offer MT4, the leading algorithmic trading platform, VPS hosting for low-latency 24/5 Forex trading, copy trading, and social trading. The most notable drawbacks are comparatively high taxes and the prevalence of manual trading in an algorithmic market.
FAQs
Can I trade Forex in Finland?
Yes. Forex trading is legal in Finland, but traders here, like in other EU countries, operate under the more restrictive ESMA regulatory framework.
Is it legal to trade in Finland?
It is legal to trade Forex in Finland. The Financial Supervision Authority (FIN-FSA) regulates Forex trading in Finland, ensuring all brokers comply with ESMA rules and regulations. Finland does not have well-known domestic Forex brokers, but EU-regulated brokers cater to the growing Forex demand.
What is the best trading platform for Finland?
While the best platform choice depends on individual preferences and requirements, MT4, the leading algorithmic Forex platform, supports all traders and strategies.
Does MetaTrader work in Finland?
MetaTrader, owned by EU-headquartered MetaQuotes, works in Finland. All brokers from our Forex brokers in Finland review offer MT4, MT5, or both trading platforms.
How to start Forex trading in Finland?
Forex trading is a highly skilled profession. Therefore, beginners should start with in-depth education. Despite the widespread availability of quality educational content, most beginners rush through this step. Determining a suitable Forex trading strategy, risk management profile and Forex broker with which to execute should all follow the education stage.
Is Forex trading taxable in Finland?
Forex trading is taxable in Finland, but profits below €500 are tax-free. Depending on how much money Forex traders earn in Finland, they either pay the progressive income tax or upfront on expected profits, with year-end adjustments, or a capital tax rate between 0% and 34%. Forex traders in Finland must consult a licensed professional for tax advice.
