Looking for the best forex broker to suit your trading needs in the Netherlands? With numerous options available, choosing the right platform can be overwhelming. This comprehensive guide will help you navigate the Dutch forex market by evaluating brokers based on their acceptance of Dutch clients, competitive spreads, and minimum deposit requirements.
Top 7 Best Forex Brokers in the Netherlands for 2024
Tight spreads, up to 1:100 leverage, diverse trading platforms like SaxoTraderGO and SaxoTraderPRO.
Broad market access, extensive research offerings, comprehensive educational materials, and 24/7 customer support.
Competitive spreads as low as 0.0 pips, coupled with advanced trading tools and lightning-fast execution on the MetaTrader platform, make FP Markets a preferred choice for traders seeking optimal trading conditions.
Experience seamless trading with FP Markets, enjoying diverse trading products, low commission rates, and exceptional customer service. The platform's user-friendly interface caters to both novice and seasoned traders, ensuring a rewarding trading experience.
Relatively competitive spreads starting from 0.12 pips, strong leverage up to 1:500, hosted on the well-recognized MetaTrader4, MetaTrader5 and cTrader platforms.
Enjoys the advantage of no commission on Standard Account trades, provision of free VPS services for seamless trading, and a trove of educational resources through webinars and tutorials for continuous learning.
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Comparison of the Best Forex Brokers in the Netherlands
Forex Broker
License
Minimum Spread
Maximum Leverage
Minimum Deposit
Open account
Details
Compare
Best Forex Brokers in the Netherlands Overall
| Brokers | Overall Rating | Accepts NL Residents | Average Spread EUR/USD - Standard | Minimum Deposit |
| SAXO | ⭐⭐⭐⭐⭐ | Yes | 0.4 pips | $0 |
| FP Markets | ⭐⭐⭐⭐⭐ | Yes | 0.0 pips | $100 |
| Pepperstone | ⭐⭐⭐⭐⭐ | Yes | 0.12 pips | $200 |
| HFM | ⭐⭐⭐⭐ | Yes | 0.0 pips | $0 |
| BlackBull | ⭐⭐⭐⭐ | Yes | 0.0 pips | $0 |
| CMC Markets | ⭐⭐⭐⭐ | Yes | 0.7 pips | $0 |
| eToro | ⭐⭐⭐⭐ | Yes | 0.75 pips | $10 |
Saxo Bank – Best Overall Brokers in the Netherlands
Saxo is a Danish investment bank founded in 1992. It provides online trading and investment services in multiple assets, including stocks, bonds, forex, options, futures, and CFDs, through its proprietary trading platforms. The bank operates in over 100 countries and has offices in major financial centers worldwide, including Copenhagen, London, Singapore, and Tokyo.
| SAXO Snapshot⭐⭐⭐⭐⭐ | |
| Regulated by | ASIC, FCA, FSA, SFC, BDF, CONSOB, FINMA, MAS |
| Market Instruments | Forex, stocks, futures, options, bonds, ETFs and CFDs |
| Leverage | 1:100 |
| Minimum spread | 0.4 pips |
| Pros | Cons |
| • Wide range of financial instruments available | • High minimum deposit requirement |
| • Access to multiple markets and exchanges | • Fees and commissions may be higher than competitors |
| • User-friendly trading platforms | • Inactivity fee for dormant accounts |
| • Advanced trading tools and research | • Limited educational resources |
| • Regulated by top-tier financial authorities | • Limited customer support options |
FP Markets – Best for Scalping and EA Trading
FP Markets is an Australian-based online brokerage firm that offers various trading instruments including forex, shares, indices,metals, and cryptocurrencies. The company was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). FP Markets provides clients with access to multiple trading platforms including MetaTrader 4, MetaTrader 5, and IRESS and several account types to cater to the needs of different traders, including 99 Standard and Raw.
| FP Markets Snapshot⭐⭐⭐⭐⭐ | |
| Regulatory Authorities | ASIC, CySEC |
| Minimum initial deposit | $100 |
| Maximum leverage | 1:500 |
| Minimum spread | 0.0 pips |
| Pros | Cons |
| •Regulated by ASIC, CySEC | •No support for U.S. clients |
| •Wide range of trading instruments | •Limited live account types |
| •Website easy to navigate | •Charges inactivity fees on dormant accounts |
| •Low spreads and competitive pricing | •No social trading platform |
| •Generous leverage up to 1:500 | •Higher minimum deposit compared to other brokers |
| •Rich educational resources available | |
| •Offers multiple trading platforms, including MT4 and MT5 |
Pepperstone – Lowest Spread Broker in the Netherlands
Pepperstone is a Forex and CFD broker founded in 2010 in Melbourne, Australia. The company has quickly grown to become one of the largest Forex and CFD brokers in the world with over 150,000 clients across the globe. Pepperstone is regulated by top-tier financial authorities, including the Australian Securities and Investments Commission (ASIC), the UK Financial Conduct Authority (FCA), etc. It offers a wide range of trading instruments including Forex, indices, commodities, and cryptocurrencies.
| Pepperstone Snapshot⭐⭐⭐⭐⭐ | |
| Regulatory Authorities | ASIC, CYSEC, FCA, DFSA, SCB |
| Minimum initial deposit | $200 |
| Maximum leverage | 1:500 |
| Minimum spread | 0.12 pips |
| Pros | Cons |
| • Well-regulated by famous authorities | • Maximum leverage up to 1:2000 |
| •Regulated by reputable financial authorities | •Limited product offerings without stock trading |
| •Multiple account options and funding methods | •Inactivity fee of $15 per month after 6 months of inactivity |
| •Low spreads and commissions | •No fixed spread account options |
| •Multiple advanced trading platforms | •Limited social trading |
| •Excellent customer support with 24/5 availability |
HFM – Best Broker for Beginners in the Netherlands
HFM, a trading name of HF Markets Group, founded in 2010, is a financial broker that provides both individual and institutional clients with online trading services. HFM has been headquartered in Cyprus but serves several global offices in Dubai, South Africa, and offshore entities in St Vincent and the Grenadines, all under respective regulatory authorities.
| HFM Snapshot⭐⭐⭐⭐⭐ | |
| Regulatory Authorities | CYSEC, FCA, DFSA, FSA (Offshore), CNMV |
| Minimum initial deposit | $0 |
| Maximum leverage | 1:2000 |
| Minimum spread | 0.0 pips onwards |
| Pros | Cons |
| • Well-regulated by famous authorities | • Maximum leverage up to 1:2000 |
| • Wide range of trading instruments | • Regional restrictions |
| • Multiple account types | |
| • Rich educational resources | |
| • Multiple trading platforms | |
| • Various customer channels |
BlackBull Markets – Best MT4 Broker in the Netherlands
BlackBull is an STP (Straight Through Processing) forex broker that provides online trading services to retail and institutional clients. The company was founded in 2014 and is headquartered in Auckland, New Zealand. BlackBull is regulated by the Financial Markets Authority (FMA) of New Zealand and offers over 26,000 tradable instruments including forex, energy, indices, cryptocurrencies, equities, and metals. The broker provides clients with multiple trading platforms such as MetaTrader 4/5 and various trading tools.
| BlackBull MarketsSnapshot⭐⭐⭐⭐⭐ | |
| Regulatory Authorities | FMA |
| Minimum initial deposit | $0 |
| Maximum leverage | 1:500 |
| Minimum spread | From 0.0 pips |
| Pros | Cons |
| • Regulated by FMA | • Negative reviews from clients regarding withdrawal issues |
| • Wide range of tradable instruments | • Limited range of payment options |
| • Demo accounts available | |
| • Multiple trading platforms and tools | |
| • No minimum deposit requirement | |
| • Rich educational resources |
CMC Market - Best Forex Broker with Multiple Market Instruments in the Netherlands
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| CMC Market Snapshot⭐⭐⭐⭐⭐ | |
| Regulatory Authorities | FCA, FMA, MAS, IIROC |
| Minimum initial deposit | $0 |
| Maximum leverage | N/A |
| Minimum spread | 0.7 pips onwards for EURUSD |
| Pros | Cons |
| •User Friendly Platform | •Charges For Inactivity |
| •Wide Range of Instruments | •Limited Portfolio Diversity |
| •Regulated by top-tier financial authorities: FCA, ASIC, and MAS | •Complicated Fee Structure |
| •High-quality educational material | •No Live Chat Support |
| •Advanced charting tools | |
| •No Minimum Deposit Requirement |
eToro - Best Social Trading Platform in the Netherlands
Established in 2007, eToro is a multi-asset social trading platform that has been widely embraced by a diverse range of investors, traders, and social media enthusiasts. It provides its users access to a broad spectrum of financial instruments such as stocks, cryptocurrencies, forex, indices, and commodities, among others. eToro's platform is highly recognized for its user-friendly interface which is designed to cater to the needs of both beginner and seasoned traders alike, contributing to its standing as one of the most sought-after trading platforms in the market.
| eToro Snapshot⭐⭐⭐⭐⭐ | |
| Regulatory Authorities | CySEC, FCA, ASIC |
| Minimum initial deposit | $10 |
| Maximum leverage | 1:400 |
| Minimum spread | From 0.75 pips |
| Pros | Cons |
| •User-friendly and easy-to-use platform | •Relative higher spreads |
| •Regulated by reputable financial authorities | •Limited range of tradable assets |
| •Copy trading and social trading features | •Limited research and analysis tools |
| •Wide range of payment methods | •Inactivity fee charged after 12 months of inactivity |
| •Commission-free trading on stocks and ETFs | •Withdrawal fee of $5 |
| •Demo account available | •Limited customer support options |
Forex Trading Knowledge Questions and Answers
Is Forex trading legit in the Netherlands?
Yes, Forex trading is legal and regulated in the Netherlands. The Dutch Authority for the Financial Markets (AFM) oversees the financial sector, including Forex trading. Companies offering Forex trading services can operate legally by obtaining a license from the AFM or a regulatory authority in another EU member state under MiFID regulations.
In the Netherlands, Forex traders can legally trade currency pairs as long as the brokers are regulated by recognized local or foreign financial agencies. The licenses should comply with the requirements of the European Securities and Markets Authority (ESMA) and the Dutch regulatory framework.
To mitigate the risk of falling for scams, traders are advised to choose online Forex brokers that are properly regulated.
How is forex trading regulated in the Netherlands?
In April 2019, the Dutch Financial Markets Authority (AFM) put into effect a permanent set of regulatory guidelines for brokers operating in the Netherlands, as well as for those offering investment services to its residents. These rules were initially established by the European Securities Market Authority (ESMA) and its Markets in Financial Instruments Directive II (MiFID II) a year prior.
The ESMA MiFID II directive includes key measures such as the legal mandate for forex and CFD brokers to separate their client funds from their own funds and to provide negative balance protection for retail investors. While ESMA does not legally mandate brokers to be part of a compensation scheme, the AFM stipulates that brokers in the Netherlands must participate in the Dutch Investor Compensation Scheme (DSC), which provides a safety net for client funds up to a certain limit if the broker faces bankruptcy.
The AFM also allows brokers based outside of the Netherlands to offer investment services to Dutch citizens.
How to choose a Forex broker in the Netherlands?
To choose a Forex broker in the Netherlands, one needs to consider the following factors:
1. Local and foreign regulation:Make sure the broker is governed by national or international agencies to ensure your investment is safe and protected.
2. Commissions and transaction fees:Choose a broker that has low or no commissions and provides clear information about their fee structure.
3. Order execution speed: The time it takes a broker to execute an order is crucial, especially in fast-moving markets. Brokers with faster execution speeds should be preferred.
4. Initial or minimum deposit amount:Look for a forex broker that aligns with your financial situation, particularly in terms of the initial deposit they require.
5. Capitalization of Forex:A broker's market capitalization can provide insights into the volume and total value of currencies they handle, giving a sense of their size and reliability.
6. Trading platforms: Choose a broker that uses popular and reliable platforms like MT4, MT5 or cTrader to ensure easy navigation and reliability.
7. Account types: Study the different types of accounts offered by the broker, along with the associated minimum deposit, commission, and leverage to find the one best suited to your needs.
What is the best time to trade Forex in the Netherlands?
Wednesday appears to be the most popular day for Forex trading in the Netherlands. Expert opinion also suggests that Tuesday, Wednesday, and Thursday are the best days because of higher market volatility on these days.
As for the best time, it is suggested to trade during the London and New York market overlap, which is between 8:00 and 11:00 a.m. Eastern Standard Time (EST). This period tends to see the most significant price moves because of the high volume of trades. Please convert this into your local time in Netherlands.
What are the best Forex pairs for clients from the Netherlands?
The best Forex pairs for clients from the Netherlands largely depend on the individual's personal trading strategy, risk tolerance, and market knowledge. However, the most frequently traded and liquid pairs generally include:
EUR/USD: As it includes the Euro, which is the Netherlands' official currency, this pair may be particularly relevant for Dutch traders.
GBP/USD: Often referred to as the 'cable,' this pair can be influenced by economic news from both the UK and the U.S., thus providing numerous trading opportunities.
USD/JPY: This pair is another major pair that Dutch traders might consider due to its high liquidity and tight spreads.
EUR/GBP: This pair could also be a strategic focus for Dutch traders, as it includes the euro and is affected by events within Europe.
EUR/JPY: This cross-currency pair could offer opportunities for Dutch traders, especially during European trading hours.
But remember, the best Forex pair for trading is subjective and can vary from trader to trader. It's crucial to understand each currency pair's unique traits and how it reacts to different market conditions.
Do I pay taxes for Forex trading in the Netherlands?
Yes, generally, you will need to pay taxes on your Forex trading profits in the Netherlands. However, the exact tax rate can vary and often depends on multiple factors, such as the individual's total income and the type of Forex trading activities. Capital gains tax, transaction tax, or income tax may apply. There is no capital gains tax in the Netherlands after the Dutch Supreme Court said Forex gains are not part of the Dutch corporate income tax.
Pros & Cons of Trading in Netherlands
Trading in the Netherlands has several pros and cons that can influence your business decisions: The Netherlands is in one of the best time zones in the world for trading Forex, with London Europeans and New York are easily tradeable during normal daytime business hours.
| ????Pros | ????Cons |
| • Strategic Geographic Location | • Market Saturation |
| • Excellent Infrastructure | • Regulatory Challenges |
| • High Proficiency in English | • High Labor Costs |
| • Business-Friendly Policies | • Economic Dependency |
| • Trade agreements | • Cultural Differences |
Pros:
1. Strategic Geographic Location: The Netherlands is centrally located in Europe's largest market, offering easy access to 95% of Europe's most lucrative consumer markets within 24 hours of Amsterdam or Rotterdam.
2. Excellent Infrastructure: The Netherlands boasts top-notch logistics infrastructure, including Europe's largest port in Rotterdam and Amsterdam's Schiphol Airport, one of the busiest airports in the world.
3. High Proficiency in English: Dutch people are known for their high level of English proficiency, which simplifies business transactions and negotiations.
4. Business-Friendly Policies: The government provides a supportive environment with attractive tax incentives and robust intellectual property protection.
5. Trade agreements: As a member of the European Union, the Netherlands takes advantage of various free trade agreements that help reduce trade barriers.
Cons:
1. Market Saturation: High competition in certain industries can make it difficult for new players to break into the market.
2. Regulatory Challenges: Navigating regulatory requirements can be complex, especially for foreign businesses not familiar with Dutch or EU laws.
3. High Labor Costs: Compared to some other countries, labor costs in the Netherlands can be relatively high, impacting profit margins.
4. Economic Dependency: The Netherlands economy heavily depends on external trade, making it potentially vulnerable to global economic and trade fluctuations.
5. Cultural Differences: While Dutch people are generally open-minded and have a good command of English, differences in business culture and etiquette can cause misunderstandings.
Summary
At WikiFX, we boast about the most professional investigative team, conducting on-site inspections of brokers' regulatory status. We provide a multidimensional analysis for your broker inquiries, covering aspects such as regulatory compliance, trading products, trading platforms, deposits and withdrawals, spreads, and commissions.
Before choosing a suitable broker for your trades, it is crucial to thoroughly assess and exercise comprehensive caution. Every trade involves a certain level of risk, and our commitment is to furnish you with comprehensive evaluative information, aiding you in easily identifying trustworthy and outstanding brokers.
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