Best Forex Brokers Austria for 2023
Trading forex (currencies) in Austria is popular among residents. While recommended, forex brokers are not required to become authorised by the Financial Market Authority (FMA) to accept residents of Austria as customers.
The Financial Market Authority is the financial regulatory body in Austria. Website: https://www.fma.gv.at/. The FMA does not have any social media accounts to follow.
The Financial Market Authority was established in 2002 and is responsible for supervising banks, investment firms, investment service providers, and stock exchange companies, amongst others. The FMA also monitors the compliance of firms, ensuring that principles of good governance are adhered to. For more information on what the FMA does, read their about page.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Brokers Austria
To find the best forex brokers in Austria, we created a list of all brokers that list Austria as a country they accept new customers from. We then ranked brokers by their Overall ranking.
Here is our list of the best forex brokers in Austria.
- XTB - Great research and education
- FXCM - Excellent trading platforms and tools
- Capital.com - Great for beginners, easy to use
Austria Forex Brokers Comparison
Compare Austria authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Overall ranking.
|Company||Accepts AT Residents||Average Spread EUR/USD - Standard||Minimum Deposit||Overall Rating||Visit Site|
|FXCM||1.38||Starts from $50|
|FP Markets||1.2||$100 AUD||
How to Verify FMA Authorisation
Residents of Austria can search the FMA company register to verify whether or not a broker is authorized. If a company is authorized a company profile will be available with a registration number and date.
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At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
Read our full explanation and accounting of our research and testing process to learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.