Best Forex Brokers Russia for 2023
Trading forex (currencies) in Russia is popular among residents. While recommended, forex brokers are not required to become authorised by The Central Bank of Russia (CBR) to accept residents of Russia as customers.
The CBR was established in 1990 and has the primary responsibility of protecting the stability of the national currency. For a historical breakdown, here's a link to the Central Bank of Russia webpage on Wikipedia.
Best Forex Brokers Russia
To find the best forex brokers in Russia, we created a list of all brokers that list Russia 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 Russia:
- XTB - Great research and education
- AvaTrade - Great for beginners and copy trading
- Capital.com - Great for beginners, easy to use
- XM Group - Good for algo trading
- Admiral Markets - Great for MetaTrader
- FP Markets - Excellent pricing, great for MetaTrader
Russia Forex Brokers Comparison
Compare Russia 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 RU Residents||Average Spread EUR/USD - Standard||Minimum Deposit||Overall Rating||Visit Site|
|FP Markets||1.2||$100 AUD|
|HYCM (Henyep Capital Markets)||0.6||$20|
How to Verify CBR Authorisation
Unfortunately, the CBR does not provide a list of authorized forex brokers; however, residents can contact the CBR directly to verify authorisation.
Why regulation is important
Choosing a well-regulated forex broker is important for avoiding forex scams. Check out my popular educational series that teaches you how to identify common forex scams and provides helpful information about what to do if you've been scammed. For crypto traders, I explain how you 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.