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.
- Eightcap, Competitive pricing + excellent daily videos.
- 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.
- Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.
Best Finland Brokers Comparison
| | | | | |
Regulators | ASIC, CySEC, FCA, SCB | CMA, CySEC, FCA, FSC Mauritius, FSCA | ASIC, CMA, CySEC, FSCA | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Year Established | 2009 | 2011 | 2005 | 2006 | 2010 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP, Market Maker | ECN/STP | Market Maker | No Dealing Desk, NDD |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 1.0 pips | 0.1 pips | 1.2 pips | 0.9 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.2 pips | 0.2 pips | 1.4 pips | 1.5 pips | 1.4 pips |
Average Trading Cost Gold | $0.12 | $0.18 | $0.16 | $0.29 | $0.15 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ |
Islamic Account | |||||
Negative Balance Protection | N/A | N/A | |||
| Visit Website | Visit Website | Visit Website | Visit Website | Get Started Visit Website75-95% of traders on margin lose |
Eightcap
In Summary Competitive pricing + excellent daily videosEightcap 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 & Cons
- 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
- Limited leverage in some areas
FXTM
In Summary Best all-around broker with high floating leverage and fast executionForex 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 & Cons
- 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
- No cryptocurrencies and limited choice of commodities
FP Markets
In Summary ECN trading with leverage up to 1:500FP 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 & Cons
- 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
- Availability of Iress geographically restricted
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsThe 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 & Cons
- High quality educational offering via AvaAcademy
- 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
- Trading costs competitive but nothing special
Pepperstone
In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platformThe well-regulated trading environment and cutting-edge infrastructure make Pepperstone the best choice for algorithmic traders and scalpers from our European Forex brokers reviews. Pepperstone offers the 28-plugin Smart Trader Tools package and Autochartist for MT4/MT5 Pepperstone also offers same-day withdrawals.
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 & Cons
- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
- Leverage of up to 1:400 depends on jurisdiction and superb trade execution
- Demo accounts have 60-day time limits
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.
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