4 Best Forex Brokers in Iceland
Last Update: June 26th, 2024
The 4 Best Forex Brokers in Iceland – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Iceland.
In this in-depth guide, you will learn:
- The Best Forex Brokers in Iceland – a List
- Is Forex Trading Legal in Iceland?
- The Best Forex Brokers for Beginners
- Forex Brokers with Icelandic Króna Accounts
- Low ISK (Íkr) Minimum Deposit Brokers
and much, MUCH more!
4 Best Forex Brokers in Iceland – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Icelandic Traders | 💴 Min. Deposit (ISK) |
| 🥇 AvaTrade | 👉 Click Here | ✅Yes | 13902 |
| 🥈 XM | 👉 Click Here | ✅Yes | 695,10 |
| 🥉 FxPro | 👉 Click Here | ✅Yes | 13902 |
| 🏅 BDSwiss | 👉 Click Here | ✅Yes | 1390,20 |
4 Best Forex Brokers in Iceland (2024)
- ☑️ AvaTrade – Overall, the Best Forex Broker in Iceland
- ☑️ XM – Best Forex Broker for Beginners
- ☑️ FxPro – Best Overall Offering
- ☑️ BDSwiss – Best Online Trading Experience
AvaTrade
AvaTrade is a popular, highly regulated Forex Broker. ASIC, FSCA, JFSA, FFAJ, ADGM, and, CySEC regulate it. Accounts available are Retail, Islamic, and, Professional. The minimum deposit is 100 USD. Moreover, Trading Instruments offered are Forex, Stocks, Commodities, Crypto CFDs, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Precious Metals, and, CFDs.
Trading Platforms include AvaTrade WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaSocial, DupliTrade, and, ZuluTrade.
| 🔎 Broker | 🥇 AvaTrade |
| 💴 Minimum Deposit | 100 USD |
| 🖱️ Account Types | Retail, Islamic, Professional |
| 🪙 Base Currencies | ZAR, USD, GBP, AUD |
| 5️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅ Yes, referral bonus |
| ⏰ Support Hours | 24/5 |
| 💵 Currency Pairs | 51; Major, Minor, Exotic Pairs |
| 🤝 Affiliate Program | ✅ Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Over 1,260 instruments | Inactivity fees on dormant accounts |
| Fixed spreads from 0.6 pips on the Pro Account | The demo account is available for 21 days |
| Islamic Account | Deposit and withdrawal options are limited |
| There is a free demo account available | Leverage is capped at 1:30 for retail accounts |
Our Insights
AvaTrade is suited to all Traders with benefits including a Referal Bonus and Multilingual Customer Support. However, the high minimum deposit and inactivity fee may be better suited to established traders.
XM
XM is a well-established Forex and CFD Broker. the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission Belize (IFSC) regulate it.
Accounts offered are Micro, Standard, Ultra-Low, and, Shares. Trading Platforms available are MetaTrader 4 and MetaTrader 5. In addition, a mobile trading app is offered. Instruments available for trade include Forex, cryptocurrencies, stock CFDs, commodities, equity indices, precious metals, energies, individual shares, and, Turbo Stocks.
| 🔎 Broker | 🥇 XM |
| 💴 Minimum Deposit | $5 USD |
| 🎁 Bonus Offers | ✅Yes |
| 📈 Account Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| ⏰ Support Hours | 24/7 |
| 🆓 Demo Account | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Minimum deposit | No social trading features available |
| Unlimited Demo Account | Inactivity Fees |
Our Insights
XM is a popular broker amongst beginner traders. Benefits include Multilingual, 24/7 Customer Support.
FxPro
FxPro is a trustworthy and highly regulated Forex Broker with competitive spreads and innovative trading tools. The FCA, CySEC, SCB, FSCA, and FSC regulate it. Trading instruments include Forex, futures, indices, shares, metals, energies, and, crypto CFDs. Accounts include Standard, Pro, Raw+, and, ECN. The minimum deposit is 100 USD.
Trading Platforms offered are MetaTrader 4, MetaTrader 5, and, cTrader. Moreover, a Proprietary Trading Platform and Mobile App is available.
| 🔎 Broker | 🥇 FxPro |
| 💴 Minimum Deposit | 100 USD |
| 💵 Inactivity Fee | None |
| 💶 Fees and Commissions | Spreads from 0.0 pips, commissions from $7 per round turn on Forex |
| 🤝 Affiliate Program | ✅Yes |
| 🌎 Banned Countries | The United States, Canada, Iran |
| 📈 Scalping | ✅Yes |
| 📉 Hedging | ✅Yes |
| 5️⃣ Ease of Use Rating | 4/5 |
| ⏰ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| MetaTrader 4 and 5 | Basic FXPro App |
| cTrader accounts | Commissions on cTrader accounts |
Our Insights
The benefits of trading with FxPro include the lack of an Inactivity Fee. Moreover, multilingual customer support is offered 24/5.
BDSwiss
BDSwiss is amongst the highest-regulated Forex Brokers in the World. Regulations include CySEC, FSC, FSA, and, BaFin. Accounts offered are Cent, Classic, VIP, Zero Spread, Islamic, and, Demo. The Minimum deposit is USD. Trading Platforms available are MetaTrader 4 and MetaTrader 5. Moreover, a proprietary trading platform and mobile app are available.
Trading Instruments available for trade are Forex, Commodities, Shares, Indices, and, Cryptocurrencies.
| 🔎 Broker | 🥇 BDSwiss |
| 📈 Regulation | CySEC, FSC, FSA, BaFin, Mwali International Services Authority |
| 📉 Trading Platforms | MetaTrader 4, MetaTrader 5, BDSwiss Web, BDSwiss Mobile |
| 💴 Minimum Deposit | 10 USD |
| ⏰ Support Hours | 24/5 |
| ⚙️ Account Types | Cent, Classic, VIP, Zero Spread, Islamic, Demo |
| 🆓 Demo Account | ✅Yes |
| ☪️ Islamic Account | ✅Yes |
| 📊 Leverage | 1:2000 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| BDSwiss offers an impressive number of markets that can be traded | There is an inactivity fee applied to dormant accounts |
| There are account levels for all types of traders | The spreads on popular accounts are wide, starting from 1.5 pips |
| BDSwiss is a highly reputable, award-winning broker regulated globally | Commission fees apply to all account types |
Our Insights
The benefits of trading with BDSwiss include access to award-winning trading platforms and a leverage of up to 1:2000. However, trading is not commission-free and a high inactivity fee is charged.
The Central Bank of Iceland
The Central Bank of Iceland or Seðlabanki Íslands is the central bank of Iceland.
The Icelandic króna (ISK)
The Icelandic Króna (ISK) is the official national currency of Iceland. The krona is represented by the symbols kr or Íkr and is abbreviated as ISK in the international currency market.
Is Forex Trading Legal in Iceland?
Forex Trading in Iceland is unrestricted and well-regulated by the Central Bank of Iceland.
In Conclusion
Forex Trading in Iceland has proven to be popular and well-regulated. Moreover, multiple International Regulated Forex Brokers accept traders in Iceland.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | FCA, FSCA, FSC, CMA | USD 10 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
Our Insights
While reviewing the Best Forex Brokers that accept Icelandic Traders, we found 4 excellent options. Each broker has its list of Benefits, ranging from multiple account types to multilingual customer support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.
You might also like:
Forex Trading is 100% legal in Iceland.
Forex trading in Iceland falls under the regulatory authority of the Central Bank of Iceland.
AvaTrade offers multiple partnership options, including an affiliate program.
Micro, Standard, Ultra Low, and, Shares.
The minimum deposit to open a FxPro account is 100 USD.
BDSwiss regulations include CySEC, FSC, FSA, and, BaFin.
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