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Best Forex Brokers Denmark for 2023

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck

July 17, 2023

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

Trading forex (currencies) in Denmark is popular among residents. While recommended, forex brokers are not required to become authorised by the Danish Financial Supervisory Authority (DFSA) to accept residents of Denmark as customers.

The Danish Financial Supervisory Authority is the financial regulatory body in Denmark. Website: https://www.dfsa.dk/. The DFSA does not have any social media accounts to follow.

DFSA

The DFSA was established in 1988 and is responsible for regulation, supervision and collecting statistics of financial participants. For a historical breakdown, here's a link to the Danish Financial Supervisory Authority webpage on Wikipedia.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% 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 Denmark

To find the best forex brokers in Denmark, we created a list of all brokers that list Denmark 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 Denmark.

  • IG
    - Best overall broker, most trusted
  • Saxo Bank - Best web-based trading platform
  • FOREX.com
    - Excellent all-round offering
  • XTB - Great research and education
  • AvaTrade - Great for beginners and copy trading
  • FXCM
    - Excellent trading platforms and tools
  • Plus500 - Multi-asset broker, great for beginners

Denmark Forex Brokers Comparison

Compare Denmark 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 DK Residents Average Spread EUR/USD - Standard Minimum Deposit Overall Rating Visit Site
IG logoIG check 0.86 £250.00 5/5 Stars Visit Site
Saxo Bank logoSaxo Bank check 0.9 €2,000 5/5 Stars
FOREX.com logoFOREX.com check 1.4 $100 5/5 Stars Visit Site
XTB logoXTB check 1.07 $0 5/5 Stars
AvaTrade logoAvaTrade check 0.92 $100 4.5/5 Stars
FXCM logoFXCM check 1.38 Starts from $50 4.5/5 Stars Visit Site
Plus500 logoPlus500 check 0.8 (August 2021) €100 4.5/5 Stars
Capital.com logoCapital.com check 0.65 $20 4.5/5 Stars
XM Group logoXM Group check 1.6 $5 4.5/5 Stars
Pepperstone logoPepperstone check 0.77 $200 4.5/5 Stars
Admiral Markets logoAdmiral Markets check 0.8 $100 4.5/5 Stars
FP Markets logoFP Markets check 1.2 $100 AUD 4.5/5 Stars
IC Markets logoIC Markets check 0.62 $200 4.5/5 Stars
Tickmill logoTickmill check 0.51 $100 4.5/5 Stars
BlackBull Markets logoBlackBull Markets check 0.827 $0 4/5 Stars
HFM logoHFM check 1.2 $0 4/5 Stars
FlowBank logoFlowBank check N/A $0 4/5 Stars
HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets) check 0.6 $20 4/5 Stars
Trading 212 logoTrading 212 check N/A €10 4/5 Stars
Eightcap logoEightcap check 1.0 $100 4/5 Stars
Trade Nation logoTrade Nation check 0.6 $0 4/5 Stars
Moneta Markets logoMoneta Markets check 1.27 $50 4/5 Stars
MultiBank logoMultiBank check N/A $50 4/5 Stars
ACY Securities logoACY Securities check 1.2 $50 4/5 Stars
easyMarkets logoeasyMarkets check 0.9 $50 4/5 Stars
IFC Markets logoIFC Markets check 1.44 $1 4/5 Stars
Axi logoAxi check N/A $0 4/5 Stars

How to Verify DFSA Authorisation

To verify that your broker is regulated by the Danish Financial Supervisory Authority, visit the DFSA website and search the name of your broker on the the company register page. If the company or broker is authorized by the DFSA, a company profile will appear, complete with a registration number and registration date.

securityWhy regulation is important

Choosing a reputable, well-regulated forex broker is a crucial step towards avoiding forex scams. My educational series dedicated to forex scams shows you how to identify common forex scams and provides helpful information about what to do if you've been scammed. I also explain how crypto enthusiasts and bitcoin traders can spot common crypto scams.

Find the best forex brokers in Europe

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Methodology

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.

About the Editorial Team

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

John Bringans
John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

81% of retail investor accounts lose money when trading CFDs with this provider.

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.
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