In Austria, the forex trading landscape reflects the global dynamics of the currency markets. The Austrian forex scene operates within the framework of robust financial regulations, contributing to a secure trading environment. As of the latest data, the forex market in Austria is witnessing steady performance, with traders actively participating in the exchange of major currency pairs.
The Euro (EUR) holds a pivotal role in Austrian forex trading, given Austria's integration into the Eurozone. Traders keenly monitor EUR/USD, as well as other EUR-based pairs, in response to Eurozone economic developments and global market shifts.
Regulation in Austria adheres to stringent standards, notably through the Financial Market Authority (FMA), which oversees financial activities, including forex brokerage firms. The presence of well-regulated brokers and the investor protection framework bolsters confidence in the local forex industry.
Here We've curated a list of top forex brokers in Austria, aimed at streamlining your selection process and instilling confidence in your trading endeavors.
8 Best Forex Brokers in Austria
Providing clients with a wide selection of leveraged and investment products to choose from.
Offering significant improvements compared to the industry standard MT4 and other competitors.
Processing times for deposits and withdrawals are minimal.
FP Markets offers consistently tighter spreads from 0.0 pips, 24/7 Multi-lingual support .
Access to numerous markets, with low commissions and fees.
Operating under strong regulation, negative balance protection offered.
more
Comparison of Best Forex Brokers in Austria
Forex Broker
License
Minimum Spread
Maximum Leverage
Minimum Deposit
Open account
Details
Compare
Best Forex Brokers in Austria Overall
| Brokers | Logos | Why are they listed as the Best Forex Brokers in Austria？ |
| Saxo Markets |  |
✅Heavily regulated in European areas, like France, Italy, and locally regulated. ✅An average rating of 4.2 out of 5 based on over 1,000 reviews, very rare among brokers. ✅Traders in Austria trust this broke a lot for its solid performance. |
| FP Markets |  |
✅ Regulated by CYSEC, in accordance with European laws. ✅A long operation history of 15 years, favorable by traders all over the world. ✅Localized customer service and payment options, providing multilingual services and convenient deposit and withdrawal. |
| TickMill |  |
✅Heavily regulated by FCA and CYSEC, an influential player in Europe. ✅15 languages and 9 payment options available, catering to traders from 200 countries. ✅Average execution time 0.20 seconds, 105 million trades executed. |
| Pepperstone |  |
✅Regulated by CYSEC and FCA, a well-established broker with a good reputation globally. ✅Fast order execution, minimizing latency and the potential for slippage, trusted by millions of traders. ✅9 payment options available to provide convenience for traders from various regions. |
| Axi |  |
✅Regulated by FCA, a well-established broker operating over 20 years. ✅Won several awards for its low spreads and competitive pricing. ✅Global, multilingual customer support team, offering 24/5 service and trading assistance. |
| Capital.com |  |
✅Strictly regulated by FCA and CYSEC in Europe, chosen by 570K clients. ✅Receiving multiple awards for its trading platform, educational content and customer service. ✅Localized payment methods provide great convenience for clients from different countries, fast withdrawal speed. |
| Fusion Markets |  |
✅Straightforward and fast account opening process. ✅ A score of 4.6 out of 5 based on over 100 reviews. ✅ Providing 24/5 customer service with most users citing a high degree of satisfaction with the quality of support received. |
| XTB |  |
✅Strictly regulated in European areas, including Cyprus, UK, and Spain. ✅ Numerous awards for its services and platform, including the highest rated forex and CFD broker of 2020. ✅An impressive 4.3 out of 5 rating from over 3,000 reviews. |
Saxo Markets
Overall: ⭐⭐⭐⭐⭐
Regulation: ASIC, FCA, FSA, SFC, AMF, CONSOB, FINMA, MAS
Saxo Markets is an online multi-asset trading and investment specialist that was established in 1992 and is based in Copenhagen, Denmark. Saxo Markets is authorised across Europe, Asia, and Australia and holds banking and investment banking licences issued by the Danish Financial Supervisory Authority. Saxo provides a wide range of trading options, including forex, CFDs, stocks, futures, options, bonds, and other asset classes. These can be accessed through the user-friendly SaxoTraderGO platform and the advanced SaxoTraderPRO platform. With a single margin account, clients have the convenience of accessing over 35,000 instruments across global markets.
| ✅Pros | ❌Cons |
|
|
|
|
|
|
|
|
|
|
|
|
|
FP Markets
Overall: ⭐⭐⭐⭐⭐
Regulation: ASIC, CYSEC
Established in 2005, FP Markets is an Australian regulated broker that has had an excellent operation for nearly 20 years, providing over 10,000 trading instruments across Forex, Shares, Metals, Commodities， Indices, Bonds, ETFs. Notably, FP Markets provide institutional grade liquidity and pricing by leveraging a Straight Through Processing (STP) model to route all client orders directly to tier-1 liquidity providers. Traders can access interbank spreads from 0 pips and fast ECN execution speeds on MetaTrader 4 and MetaTrader 5. With segregated client funds, dedicated account managers and 24/7 multilingual support, FP Markets combines the ideal blend of trading infrastructure, trust and service.
| ✅Pros | ❌Cons |
|
|
|
|
|
|
|
|
|
|
|
TickMill
Overall: ⭐⭐⭐⭐⭐
Regulation: FCA, CYSEC, FSCA, LFSA
Established in 2014, TickMill is a well-established forex and CFD broker that has garnered a reputation for its transparent trading practices, competitive pricing, and unwavering commitment to client satisfaction. Headquartered in the United Kingdom, TickMill is regulated by multiple Tier-1 financial authorities, ensuring the highest standards of security and investor protection.
| ✅Pros | ❌Cons |
|
|
|
|
|
|
|
|
|
|
|
|
|
Pepperstone
Overall: ⭐⭐⭐⭐⭐
Regulation: ASIC, CYSEC, FCA, SCB
Pepperstone, an online forex and CFD broker, was established in 2010 in Australia. The company is based in Melbourne, Australia, and has become a favoured option for traders around the globe. It provides access to a wide range of financial markets and trading instruments through its easy-to-use trading platforms. Pepperstone is renowned for its competitive pricing, tight spreads, and unwavering dedication to delivering a dependable trading environment for its clients.
| ✅Pros | ❌Cons |
|
|
|
|
|
|
|
|
|
|
|
Axi
Overall: ⭐⭐⭐⭐⭐
Regulation: ASIC, FCA, FMA, DFSA
Axi (formerly AxiTrader) offers a bunch of over 220 trading options, forex, CFDs for stocks, indices, commodities, and even cryptocurrencies. They start at a $0 deposit, offer competitive spreads from 0.0 pips on major currencies, and here is the cool part: using ECN execution for direct market orders. As for the platform, it's none other than the legendary MetaTrader 4. With a touch of pride, they claim to have served more than 600,000 traders across 100 countries.
| ✅Pros | ❌Cons |
|
|
|
|
|
|
|
|
|
|
|
Capital.com
Overall: ⭐⭐⭐⭐⭐
Regulation: ASIC, CYSEC, FCA, NBRB, FSA
Capital.com is a global online trading platform, registered and headquartered in Cyprus, and established in 2016. This broker is known for offering services in forex trading, spread betting, and Contracts for Difference (CFDs) on various financial instruments including stocks, indices, commodities, and cryptocurrencies. It offers access to advanced Metatrader 4 trading platform and tradingview, giving traders much confidence in trading.
| ✅Pros | ❌Cons |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fusion Markets
Overall: ⭐⭐⭐⭐⭐
Regulation: ASIC, FSA
Fusion Markets is an online trading platform, registered and headquartered in Australia, with many years' industry experience. This broker offers various financial instruments covering Forex, Metals, Indices, Energy & Soft Commodities, Cryptocurrency, US Share CFDs. Fusion Markets gives its traders multiple trading platform choices, including MetaTrader 4, MetaTrader 5, cTrader, as well as other platforms including Multi Account Manager, DupliTrade.
| ✅Pros | ❌Cons |
|
|
|
|
|
|
|
XTB
Overall: ⭐⭐⭐⭐
Regulation: CYSEC, FCA, CNMV
XTB stands as a global online trading and investment brokerage firm, specializing in the provision of contracts for difference (CFDs) across a wide spectrum – from forex, indices, commodities, stocks, ETFs, to cryptocurrencies. With a founding year of 2002, XTB boasts a rigorous regulatory standing, accredited by numerous financial authorities across the globe. These include the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). For traders seeking diverse trading platforms, XTB extends an array of choices. Among them, the award-winning xStation 5 web and mobile platforms take the spotlight.
| ✅Pros | ❌Cons |
|
|
|
|
|
|
|
|
|
|
|
Forex Trading Knowledge Questions and Answers
Is forex trading legal in Austria?
Yes, forex trading is indeed legal in Austria. All forex brokers operating in Austria are regulated by the Financial Market Authority (FMA), which is a government body tasked with the regulation and supervision of Austria's financial services industry.The FMA's main objectives are to ensure the stability and integrity of Austria's financial system, protect consumers and investors, and prevent any financial malpractice or fraudulent activity. Therefore, individuals and institutions in Austria interested in forex trading are required to use regulated, FMA-approved entities to ensure their activities are in line with the law. However, although forex trading is legal and regulated here, it does involve significant risks due to the highly volatile nature of the market. In this case, traders should take extra vigilance in finding a reliable broker before engaging in forex trading.
What is the maximum trading leverage allowed for forex trading in Austria?
In accordance with the guidelines stipulated by both the European Securities and Markets Authority (ESMA) and the Financial Market Authority (FMA) of Austria, the maximum permitted leverage fortrading major currency pairs is restricted to 30:1 for retail traders.This limit is reduced further to 20:1 when trading with non-major currency pairs, gold, and major indices. While increased leverage might be an accessible tool for professional traders, it's crucial to stay mindful that, though it can escalate potential profits, it has an equally potent effect on potential losses.
Do I need to pay taxes for forex trading in Austria?
Yes, you need to pay taxes for forex trading in Austria.Forex trading profits are taxed as capital gains in Austria. The capital gains tax rate depends on the holding period of the asset. For assets held for less than one year, the capital gains tax rate is 27.5%. For assets held for more than one year, the capital gains tax rate is 25%.
There are some exemptions to the capital gains tax, such as for profits that are less than €730 per year. However, most forex traders will be subject to the capital gains tax on their profits.
Still, you are responsible for reporting your forex trading profits to the Austrian tax authorities, even if you are trading through a foreign broker. You can do this by filing a tax return at the end of the year.
What are potential scam brokers that traders should avoid in Austria?
In Austria, as in other parts of the world, traders must be wary of potential scam brokers. These fraudulent entities often lure traders with outlandish promises of high returns, automated trading solutions, and no-risk guarantees. They fabricate regulatory documents, including licenses and certificates, a malpractice that can be hard to discover, especially for traders unfamiliar with the regulatory industry. Fraudulent brokers can also pose as legitimate brokers by adopting their names, logos, and contact details. This imitation can occur via phone conversations, emails, or social media platforms.
Here let's see what scam brokers that traders should avoid:
| Broker | Registered Country | Regulation | Minimum Deposit | Trading Platform | Customer Support |
 |
Belize |  |
$100 | Counterfeit MT4 | No |
 |
Cyprus |  |
Unknown | Counterfeit MT4 | Invalid Phone number |
 |
United States |  |
$50 | Mobile App | Phone not answering |
 |
Cyprus |  |
Unknown | LiveTrader Web | No |
 |
United States |  |
$15,000 | Counterfeit MT4 | Email Only |
 |
Seychelles |  |
$200 | MetaTrader 4(not sure if true) | Email and Phone |
DMI Trader asserts ASIC regulation under license 345646. Our ASIC website review reveals STONEX FINANCIAL PTY LTD's trading names, such as FX Solutions Australia and IFX, but notably absent is DMI Trader. It raises suspicions that DMI Trader is operating without regulatory oversight, masquerading as a legitimate broker.
Regarding broker Banke, the institution called “HXFX Global Investment Ltd” is not found on the official VFSC website, indicating a lack of regulation. Furthermore, there are concerns that they may be attempting to deceive investors by using a fake license.
When it comes toForexpro, FOREXPRO GROUP LIMITED is not an member of NFA, either.
Optionrally asserts CYSEC regulation, yet our investigation on the CYSEC website for Optionrally Financial Services Ltd reveals approval only for the domain https://www.optionrally.eu. The rogue broker's domain, https://www.optionrallycn.com/, serves as irrefutable evidence of a fraudulent clone operation.
Our inquiry reveals that JKG CAPITAL LLCdoes not hold NFA membership, despite its claims. The use of a counterfeit regulatory license suggests a deceptive façade aimed at appearing legitimate.
ETO Marketsfalsely asserts regulation by the FSA in Seychelles. Our investigation brings to light a significant discrepancy: the approved domain, http://www.eto.group, sharply contrasts with the broker's actual domain, https://www.etomarkets.net/english/index.html, revealing the unmistakable signs of a fraudulent entity.
What is the most popular currency pair traded by Austrian forex traders?
The EUR/USD currency pair enjoys global prominence among forex traders, resonating with those in Austria. This pair represents two of the largest economies in the world, the Eurozone and the United States. However, the popularity of a currency pair can vary among individuals depending on their trading strategies, risk tolerance, and market knowledge.
What are common mistakes that trader should avoid?
To succeed in forex trading is not easy, few are geniuses.Minimizing mistakes will greatly increase our chances of becoming successful traders. Here are some common mistakes that traders should avoid:
Trading Without a Strategy: Imagine entering a city without a map. You might wander aimlessly, wasting time without reaching your destination. Trading without a strategy is similar - you might make random trades that don't lead you towards your financial goals.
Not Setting Stop Losses: A stop loss limit is your safety net in potentially volatile markets. It helps limit losses and manage risk, preventing trades from wiping out your entire account.
Overtrading: Think of a player who keeps hitting the ball aimlessly in a game of cricket. Sure, they are active, but without the right strategy, they might not make any runs. Overtrading is equivalent in trading - taking too many trades without sound reasons can deplete your account quickly.
Ignoring Fundamental Analysis: Traders shouldn't rely solely on technical analysis. Paying attention to news, economic indicators, and market updates is also critical.
Inadequate Risk Management:Suppose you invest all your money in a single stock. What if the company goes bankrupt？ You could lose everything! Inadequate risk management in trading can lead to similar disastrous results.
Lack of Discipline: Discipline is essential in sticking to your trading strategy and not being lured into poor trades due to greed or excitement. Patience is necessary to wait for the right trading opportunities.
Letting Emotions Control Trading Decisions: Greed, fear, and other emotions should not drive trading decisions. Stick to the analysis and ignore the noise.
Not Continuing to Learn: The financial markets are always evolving. Continuous education, staying informed about market changes, and adjusting trading strategies accordingly are all part of being a successful trader.
About WikiFX
On WikiFX.com, our evaluations of online forex brokers, along with their offerings and services, are derived from the data we've gathered and the informed insights and professional perspectives of our expert researchers.
We conduct a thorough review of each broker's regulatory compliance, commission rates and charges, minimum deposit needs, leverage availability, performance of the trading platform, and the speed of withdrawal processes. Through our technologically-backed assistance, we strive to ensure you have a solid understanding of these aspects.
We sincerely maintain an updated leaderboard of top brokers and offer extensive forex guides. With a catalog of over 50,000 brokers regulated by 30+ authorities,boosting confidence and simplifies trading experiences for your forex journey.
You Also Like：
Best Forex Brokers for Beginners in Nigeria for 2024
Select the top forex brokers for beginners in Nigeria from many companies to ensure a safe trading environment.
Best Forex Trading Time in India 2024
Optimize your Forex trading in India by understanding prime trading times and exploring broker options.
What Time the Forex Market Opens in South Africa
Boost your Forex trading in South Africa with our guide on peak market hours for optimal trade activity!
6 Best No Deposit Bonus Forex Brokers in Malaysia in 2024
Start Forex trading risk-free in Malaysia! Discover the six top brokers, featuring attractive no-deposit bonuses.
7 Best Forex Trustworthy Brokers in 2024
Stay informed and avoid forex scams with our list of 7 Top Trustworthy Brokers – trade with peace of mind and profitable potential.
10 Best Forex Trading YouTube Channels to Follow in 2024
Boost your Forex trading success with our top picks for 10 Best Forex Trading YouTube Channels including ForexSignals TV, Warrior Trading, and more.
Automated Forex Trading Software | How It Works | Pros and Cons
Unlock 24/5 trading potential, overcome human limitations and enhance your forex outcomes with Automated Forex Trading software!
Best Forex Traders to Follow on Instagram
Uncover the secrets of Forex trading on Instagram - dive into scam prevention, explore top traders, and boost your investment know-how!
