Best Forex Brokers in Austria 2023

We all know that forex trading is a widespread way to make money around the world, and Austria is no exception. In Austria, there are many forex brokers who offer their services to traders. However, not all of these brokers are same. And there is some best forex broker in Austria!

So, how do you choose the right one? This article will enlighten you on how to find the best forex brokers Austria. Also, we will give your Austria forex brokers list for safe trading.

Best Forex Brokers in Austria List:

RANK	REGULATION We only list licensed brokers that comply with the requirements of prominent regulatory agencies.	MIN DEPOSIT The minimum amount you need to deposit in order to start trading.	DEPOSIT BONUS	RATING	MAX LEVERAGE Leverage refers to the ratio of securities you can buy for a given payment. The higher the leverage ratio, the higher your buying power (and the higher the risk). For example, a leverage ratio of 500:1 means you can purchase 500 securities, but only pay the equivalent of 1 security valuation. The leverage ratio offered can vary depending on the experience level of the trader.	SUPPORT	START TRADING
1	ASIC, CySEC, FSP	$100	No Bonus	99 Read Review	1:500	Telephone: +44 28 2544 7780	Open an Account More Information
Pros Excellent education tools Low forex fees Fast account opening Easy funding methods Cons No bonuses Platforms & Devices READ FULL REVIEW
2	FCA, CySEC, FSCA, SCB	$100	No Bonus	94 Read Review	1:100	Telephone: +44 (0) 203 151 5550	Open an Account More Information
Pros Excellent customer service Free deposit and withdrawal Negative balance protection Wide range of platform Cons Inactivity fee High Trading Fees for some CFDs Platforms & Devices READ FULL REVIEW
3	ASIC, CySEC, FSA, SCB	$200	No Bonus	92 Read Review	1:500	Telephone: +248 467 19 76	Open an Account More Information
Pros Low forex fees Fast order execution Analytical training materials 90+ instruments Cons Slow live chat support Non-EU traders don’t get investor protection Platforms & Devices READ FULL REVIEW
4	ASIC, CySEC	$1	100%	91 Read Review	1:3000	Telephone: +35 7251 23212	Open an Account More Information
Pros No withdrawal fee Low stock and stock index CFD fees Negative balance protection No inactivity fee Cons Average forex CFD fees No PAMM accounts Platforms & Devices READ FULL REVIEW
5	ASIC, CySEC, FSC	$5	Up to $5000	90 Read Review	1:1000	Telephone: +501 223-6696	Open an Account More Information
Pros Low withdrawal fees Great educational tools Wide range of leverage Multilingual customer support Cons Non-EU traders don’t get investor protection Lack of weekend customer support Platforms & Devices READ FULL REVIEW
6	FSA	$0	No Bonus	90 Read Review	1:500	Telephone:	Open an Account More Information
Pros 9 base currencies 24/7 technical service Direct market access VPS, FIX API, copy trading Superior trading conditions Cons No negative balance protection Withdrawal fees Platforms & Devices READ FULL REVIEW
7	FCA, DFSA, FSCA, FSA, CMA	$5	100%	88 Read Review	1:1000	Telephone: +44-2030978571	Open an Account More Information
Pros Low spread Controlled by several regulators Numerous deposit and withdrawal Favorable trading conditions Cons Few account currencies Only USD or EUR as base currencies Platforms & Devices READ FULL REVIEW
8	ASIC, FCA	$0	No Bonus	85 Read Review	1:500	Telephone: +61 2 9965 5830	Open an Account More Information
Pros Automatic insurance coverage Low entry threshold Fully digital account opening Low forex fees Cons Limited research tools Only forex and CFD trading Platforms & Devices READ FULL REVIEW
9	CFTC, FCA, ASIC, FSA, MFSA	$0	up to $1000	78 Read Review	1:50	Telephone: 1 212 858 7690	Open an Account More Information
Pros Outstanding research tools Excellent trading platforms Accepts U.S. clients Superior research offerings Cons No account protection for U.S. clients Monthly inactivity fee Platforms & Devices READ FULL REVIEW
10	FCA, ASIC, DFSA	$200	No Bonus	75 Read Review	1:30	Telephone: +1786 628 1209	Open an Account More Information
Pros Digital account opening process Seamless deposit and withdrawal Attractive trading conditions No inactivity fee Cons No cent account Few analytical materials Platforms & Devices READ FULL REVIEW

Is Forex Trading Legal in Austria?

The country has a strong economy and is a popular tourist destination. Forex Austria is legal, and the Financial Market Authority (FMA) regulates the Austrian forex market. Therefore, there are many forex brokers located in Austria and online brokerages that accept Austrian clients. Forex trading is a popular way to invest in the Austrian stock market. Many Austrian investors use forex trading to speculate on the price movements of indices, stocks, commodities, and currencies. Austrian government did not put any restriction in forex trading in Austria and the trader can trade with any regulated broker they choose.

Forex Regulation in Austria

The Financial Market Authority (FMA) is the regulatory body for the Austrian financial markets. It is responsible for supervising banks, insurance companies, investment firms, and listed companies. The FMA also regulates the markets for securities, derivatives, and other financial instruments. In addition, the FMA oversees the activities of financial service providers and ensures that they comply with Austrian laws and regulations. The FMA is headquartered in Vienna and has offices in Linz and Salzburg.

However, we suggest you trade using regulated forex brokers in Austria from other countries such as Australia (ASIC), FCA (UK), CFTC (USA) and more. These regulations give you the ultimate security.

How To Find the Best Forex Brokers Austria?

It’s a funny thing about the Forex market, and it seems to attract more people daily. Since conventional studies have shown that up to 80% of traders will lose money on exchanges by trading too often and without enough discipline, what should you consider before choosing a forex broker Austria? Before giving your money to any best forex brokers Austria, here are some things you should do.

Research Different Brokers

Research the different brokers using their websites. You should find plenty of information on costs, commissions, trade types, etc. Getting an idea of how many tools and resources a broker offers will give you an idea of their professionalism. The more tools you get for free, the better.

Look online to find hundreds of forex forums online where traders express their opinions and experiences with a broker. This is by far the best way to check out any broker’s reputation before signing up for their services. You should also look at the broker’s support forum to find out how efficient the company is in solving any technical issues that might arise.

Visit Office If Possible

Visit their offices whenever you can. Find out whether or not they’re a real live, physical experience and talk to their staff about Forex trading. You shouldn’t only focus on a broker’s services and offerings but also on their reputation as well as customer service system. That way, you can make a knowledgeable decision about what it takes to succeed in Forex trading in Austria.

Also, find out how many years the broker has been around. A good forex broker will have an established reputation and plenty of experience with which to back it. If you’re just starting out in forex, then you should look for a broker that’s been around for at least five years and has a good reputation in the online community.

Check the Broker’s Website

Make sure that a broker’s website is not filled with spelling mistakes, typos and grammatical errors. This is a sure sign that the broker is inexperienced and unable to deal with customer inquiries quickly. The best forex broker in Austria should have a clear and professional website so that you can easily navigate around their site and find the information you need to know.

Check out the ‘About Us’ section of the website. You should be able to find out whether the broker is registered in Austria or not, as well as details about their annual turnover and where they operate from. You should also need to check if the broker is a participant of any independent watchdog and self-regulatory bodies or not.

Software and Platforms

Determine whether or not they offer as much software as possible. You should be able to find all the charting tools, charting packages and other free software on their website. This will save you time and money while you’re trading. The more information and software you get for free, the better.

Thus, you must need the best trading platforms in Austria. In this regard, you can check if the broker offers MetaTrader 4 or MetaTrader 5 platform.

Payment Methods

Check out the payment methods the broker support. If a broker supports only one or two payment methods, then you will be limited to the ways you can deposit and withdraw your trading funds. You should find a broker with various options, which will make your life as a trader much easier.

In addition to that, check out how many languages the broker offers their services in. The more languages they offer, the better.

Currency Pairs

Check out how many currency pairs they support. If a broker only offers to trade you in one currency, then that means you might have to settle for trading in only one major currency pair. You should find out from the broker whether they support most, if not all, of the major currency pairs.

Also, check out if the broker is based in Austria or not. You can identify that from their website. Trading with a local broker will make it faster and easier for you to deal with any problems.

Account Types

Check out if there are different forex brokers account types available with the broker. Some brokers offer different types of accounts based on your performance, while others offer one account service. If a broker only offers one type of account, then you should avoid their services at all costs.

Transparency

Check out how often a third party audits your funds and how often they publish their results. If a broker keeps their audit results secret, then they might be trying to hide something. You should find out how transparent a broker is with their processes and ensure that they keep all customer funds safe and secure at all times.

Security

Make sure that different kinds of security measures protect your account. You should find out if the broker has an SSL certificate or not, which will protect your money from cyber criminals and hackers. You should also know if your account is backed up with an online service or not.

In addition to that, they pay attention to their stock trades and daily turnover. If a trader’s turnover is low, then they’re probably inexperienced or doing something wrong. If too many people are trading, the price could quickly drop, and you could lose a lot of money from the trade.

Final Words

All the criteria we have mentioned in this article will surely help you to select the best forex broker in Austria. Although we suggest trading with any internationally regulated forex broker, you may also trade with FMA regulated brokers too.

Nevertheless, if you don’t know which broker will be good for you, you may try any of the brokers we have mentioned forex brokers list in Austria above. Also, these brokerages are the best forex brokers in Austria for Foreigners.