Romania is a high-income economy, one of the fastest-growing economies in the EU, and an attractive Forex market. Romania is an EU member but operates outside the Eurozone with its domestic currency, the Romanian Leu, which is unavailable for trading at online retail Forex brokers. Education and an account with the best Forex brokers in Romania are key to success, but how do you find the right broker? My analysis provides an overview of the top Romanian brokers, plus a guide to help avoid beginner mistakes and shorten the learning curve.
- FP Markets, ECN trading with leverage up to 1:500.
- Eightcap, Competitive pricing + excellent daily videos.
- BlackBull Markets, Best ECN trading environment, with scalping and hedging.
- Octa, A commission-free broker with a proprietary copy trading service.
- Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.
FP Markets
In Summary ECN trading with leverage up to 1:500I rank FP Markets among the best Forex brokers in Romania as it offers traders a well-balanced asset selection covering six sectors, including cryptocurrency CFDs and ETFs. Traders can use the MT4/MT5 trading platforms, upgraded with 12 plugins, or opt for cTrader as an alternative. Social traders can connect with 50M+ traders at TradingView. The minimum deposit requirement is €50, and FP Markets offers five payment processors, including Skrill and Neteller.
The competitively priced Raw account features raw spread trading from 0.0 pips for a commission of $6.00 per 1.0 standard round lot, which is ideal for scalpers.
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
Eightcap
In Summary Competitive pricing + excellent daily videosEightcap upgrades MT5 with the FlashTrader plugin and offers TradingView for social traders, where 50M+ peers share trade ideas and discuss markets. The minimum deposit is €100, and Eightcap EU features three payment processors, including Skrill. The well-balanced asset selection of 800+ trading instruments covers five sectors, including cryptocurrencies. Therefore, I rank Eightcap among the best Forex brokers in Romania.
While the TradingView account requires the more expensive commission-free cost structure, MT5 traders get raw spreads from 0.0 pips for a $7.00 commission per 1.0 standard lot. Traders also receive an AI-powered economic calendar and no trading strategy restrictions.
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
BlackBull Markets
In Summary Best ECN trading environment, with scalping and hedgingTraders can excel with their strategies at BlackBull Markets due to superb data feeds from 66+ third-party providers, deep liquidity, and competitively priced commission-based ECN accounts. These features ensure institutional trading conditions. VPS hosting provides low-latency 24/5 Forex trading, and API trading is equally available. It places BlackBull Markets among the best Forex brokers in Romania.
BlackBull Markets upgrades MT4/MT5 with Autochartist and offers cTrader, the proprietary mobile app BlackBull Trader, BlackBull Invest for buy-and-hold portfolios, and TradingView for social traders. Beginners receive quality educational content, and copy traders get ZuluTrade, Myfxbook Autotrade, and the proprietary BlackBull Markets alternative.
Pros & Cons
- ECN/NDD execution model with deep liquidity
- Institution-grade pricing for retail traders via proprietary price aggregation
- ZuluTrade and Myfxbook for social trading
- Leverage of up to 1:500
- Limited deposit options
Octa
In Summary A commission-free broker with a proprietary copy trading serviceI rank Octa among the best Forex brokers in Romania as select Forex pairs, some commodities, and indices for short sellers are swap-free for all traders, offering a notable cost advantage. The minimum deposit requirement is €50, and Octa offers commission-free deposits and withdrawals via bank wires.
Beginners receive a four-step, 30-minute introduction to CFD trading. Octa provides its user-friendly, proprietary OctaTrader trading platform, featuring price alerts and notifications, and a user-friendly mobile app. The balanced asset selection features highly liquid trading instruments focused on Forex, with commission-free spreads from 1.0 pips or $10.00 per 1.0 standard round lot.
Pros & Cons
- Quick withdrawals and deposits
- 0% commission and no overnight charges
- Space with personalised trading ideas
- Customer Support 24/7
- Mobile copy trading services available only for Android
Pepperstone
In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platformTraders receive the 28-plugin Smart Trader Tools package and third-party Autochartist upgrade for MT4/MT5. Alternatively, traders can use cTrader or connect to TradingView, where 50M+ peers engage in social trading. Pepperstone delivers deep liquidity pools and fast execution. VPS hosting allows for low-latency 24/5 Forex trading, and API trading for advanced algorithmic trading requirements is also available. Therefore, I rank Pepperstone among the best Forex brokers in Romania.
Pepperstone offers raw spread trading in its Razor account with raw spreads from 0.0 pips, for a €5.20 commission per 1.0 standard round lot. The well-balanced asset selection features 1,200+ assets.
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
Romania Forex Brokers Comparison
| | | | | |
Regulators | ASIC, CMA, CySEC, FSCA | ASIC, CySEC, FCA, SCB | FMA, FSA | CySEC, FSCA, MWALI International Services Authority | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Year Established | 2005 | 2009 | 2014 | 2011 | 2010 |
Execution Type(s) | ECN/STP | ECN/STP, Market Maker | ECN/STP, No Dealing Desk | Market Maker | No Dealing Desk, NDD |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 1.2 pips | 1.0 pips | 1.3 pips | 0.9 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.4 pips | 1.2 pips | 2.0 pips | 1.3 pips | 1.4 pips |
Average Trading Cost Gold | $0.16 | $0.12 | $0.90 | $0.30 | $0.15 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, cTrader, Trading View | MetaTrader 4, MetaTrader 5, Proprietary platform | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ |
Islamic Account | |||||
Negative Balance Protection | N/A | ||||
| Visit Website | Visit Website | Visit Website | Visit Website | Get Started Visit Website75-95% of traders on margin lose |
How to Choose a Forex Broker from Romania
Trading with the best Forex brokers in Romania means different things to different Forex traders based on their preferences and requirements. My analysis focused on the criteria below, as they are necessary for competitive, secure trading conditions regardless of traders’ preferences.
All competitive Romanian Forex brokers should offer the following:
- Regulation: 10+ years of operational history and a clean regulatory record exceeding 10+ years with a trader-friendly regulator. Romanian Forex traders may choose between strict EU regulations and trader-friendly offshore alternatives. Please note that multi-regulated Forex brokers with an EU entity will usually onboard Romanian Forex traders through the EU entity.
- Trading Fees: Low Forex trading fees define the competitiveness of the trading environment. The EUR/USD should not exceed costs of $10.00 per 1.0 standard round lot or 1.0 pips. I also recommend a volume-based rebate program to decrease final trading fees.
- Trading Platforms: MT4 and MT5 support algorithmic and copy trading. They also enable API trading, connect to third-party trading tools, and have 25,000+ add-ons, custom templates, scripts, and EAs.
- Asset Selection: A balanced asset selection is necessary for portfolio diversification and cross-asset trading opportunities.
- Deposits and Withdrawals: No internal transaction fees and low minimum requirements.
How to Start Forex Trading in Romania
My tips below will shorten the learning curve and highlight areas of study to focus on before opening a trading account with the best Forex brokers in Romania.
Here are my Forex trading tips:
1. Focus on in-depth education.
2. Approach and respect Forex trading as a highly skilled profession.
3. Trading psychology separates up to 90% of unprofitable traders from profitable ones.
4. Study the leverage-risk management relationship.
5. Learn how lot sizes impact risk management.
6. Risk management is as important as the trading strategy.
7. Use a trading strategy that reflects your personality.
8. Low trading fees determine a competitive trading environment.
9. Master proper take profit and stop loss placement.
What Is the Maximum Forex Leverage in Romania?
Romanian Forex traders trading with ESMA-regulated Forex brokers get 1:30 with negative balance protection. In contrast, offshore Forex brokers offer 1:500. The best Forex brokers in Romania engage in forced liquidation once the account breaches select ratios. Forex traders must always use proper risk management when trading leveraged accounts and understand the leverage-risk management and lot sizes-risk management relationship.
Forex brokers in Romania operating under strict ESMA regulations offer a professional account. The trading conditions a professional trader receives in Romania and the entire EU are identical to what offshore Forex brokers provide retail traders and match the trading conditions all EU traders benefited from before the ESMA crackdown on leverage.
To receive professional trader classification in Romania, traders must meet two of the three criteria below:
- Have made at least 10 transactions of sufficient amount per quarter in the previous 12 months
- Have at least one year of experience working in the financial markets sector
- Have a financial instruments portfolio that is worth at least €500,000
Forex Trading Regulations in Romania
The National Bank of Romania and the Autoritatea de Supraveghere Financiara (ASF) regulated the Romanian financial market, which includes the Forex market. They ensure EU-regulated Forex brokers comply with ESMA regulations, including the Markets in Financial Instruments Directive II (MiFID II). Few exceptions exist outside ASF control, including leverage restrictions by offshore Forex brokers, which do not require an ASF license. Romanian Forex traders are also free from opening trading accounts with offshore Forex brokers.
Forex Trading Taxation in Romania
Romanian Forex traders must pay taxes on their income. During my research identifying the best Forex brokers in Romania, I uncovered that Romania levies a 10% personal income tax and a 10% capital gains tax. The applicable tax depends on the classification of Forex trading income. I advise Romanian Forex traders to consult a licensed professional for up-to-date tax advice, to improve tax efficiency, and to ensure total compliance with the Romanian tax code.
Bottom Line
Romanian Forex traders have many brokerage choices, but beginners must start with in-depth education. The best Forex brokers in Romania are offshore Forex brokers, but many have an EU entity for Hungarian Forex traders who prefer to manage accounts under ESMA rules and regulations. However, the most competitive trading conditions are available at well-regulated offshore brokers that view Romania as a core market. They offer lower trading fees, algorithmic trading, copy trading, social trading, and mobile apps.
