Best Forex Brokers Norway for 2023
Trading forex (currencies) in Norway is popular among residents. While recommended, forex brokers are not required to become authorised by Finanstilsynet (The Financial Supervisory Authority of Norway) to accept residents of Norway as customers.
Finanstilsynet is the financial regulatory body in Norway. Website: https://www.finanstilsynet.no/. We recommend residents of Norway follow Finanstilsynet on Twitter: https://twitter.com/finanstilsynet.
Finanstilsynet was established in 1986 and is responsible for supervision of financial companies in Norway. For a historical breakdown, here's a link to Finanstilsynet on Wikipedia.
Best Forex Brokers Norway
To find the best forex brokers in Norway, we created a list of all brokers that list Norway 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 Norway:
- Saxo Bank - Best web-based trading platform
- CMC Markets - Excellent overall, best platform technology
- XTB - Great research and education
- AvaTrade - Great for beginners and copy trading
- FXCM - Excellent trading platforms and tools
Norway Forex Brokers Comparison
Compare Norway 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 NO Residents||Average Spread EUR/USD - Standard||Minimum Deposit||Overall Rating||Visit Site|
|Saxo Bank||0.9||0||Read Review|
|CMC Markets||0.51||$0||Read Review|
|FXCM||1.38||Starts from $50||Read Review|
|Plus500||0.8 (August 2021)||€100||Read Review|
|XM Group||1.6||$5||Read Review|
|Admiral Markets||0.8||$100||Read Review|
|FP Markets||1.1||$100 AUD||Read Review|
|IC Markets||0.62||$200||Read Review|
|BlackBull Markets||0.827||$0||Read Review|
|HYCM (Henyep Capital Markets)||0.6||$20||Read Review|
|Trading 212||N/A||€10||Read Review|
|Trade Nation||0.6||$0||Read Review|
|Moneta Markets||1.27||$50||Read Review|
|ACY Securities||1.2||$50||Read Review|
How to Verify Finanstilsynet Authorisation
Residents of Norway can search the Finanstilsynet company register to verify whether or not a broker is regulated by the Finanstilsynet. If a company is authorized, a company profile will be available with a registration number and date upon searching.
Why 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.
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2023 Review 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 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.
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.