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.
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.
- Saxo Bank - Best web-based trading platform
- XTB - Great research and education
- AvaTrade - Great for beginners and copy trading
- Plus500 - Multi-asset broker, great for beginners
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||
|Plus500||0.8 (August 2021)||€100|
|FP Markets||1.2||$100 AUD|
|HYCM (Henyep Capital Markets)||0.6||$20|
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, led by Steven Hatazkis, conducts thorough testing on a wide range of features, products, and services. 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. Our research team collects and validates thousands of data points each year.
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 regulatory status and number of held regulatory licenses.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.
We also test on mobile devices; for Apple, we test using the iPhone XS running iOS 16, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 13.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.
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.