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  Forex trading, a key player in the global financial market, continues to gain popularity in Denmark as traders actively seek opportunities for profit through currency exchange. The year 2024 indicates a promising year for Forex trading in this country, marking a continuous trend in the rising number of interested participants. Whether you are a seasoned pro or a curious beginner, the key to a successful trading journey starts with choosing the right Forex broker.

  In this article, we delve into discussions, ratings, and comparisons of renowned Forex brokers in Denmark, aiming to provide you with insights that would help you make a well-informed choice that matches your trading goals.


Best Forex Brokers in Denmark

Wide range of markets, advanced trading platforms

Superior execution speed, ideal for scalpers and high-frequency traders

Comprehensive educational resources, a variety of trading platforms


Comparison of Best Forex Brokers in Denmark

Forex Broker


Minimum Spread

Maximum Leverage

Minimum Deposit

Open account



Domestic Regulation





Best Forex Brokers in Denmark Reviewed

① IG

  IG is a global leader in online trading, offering access to a vast range of markets and advanced trading technologies.

Min Deposit 0
Tradable Instruments 17,000+, forex, indices, cryptocurrencies, shares, commodities, ETFs, options, interest rates, bonds
Demo Account Yes
Costs Average 1 pip in EUR/USD
Trading Platforms Online trading platform, Mobile trading app, Progressive web app, ProRealTime, MT4, L2Dealer
Deposits & Withdrawals Credit/debit cards (MasterCard/Visa), bank transfer
Customer Support 24h/day, except from 6 am to 4 pm on Saturday (UTC+8)-live chat, phone, email


   Wide range of markets and products.

  Proprietary and third-party trading platforms are available.

  Comprehensive educational resources.


  × Limited payment options.

  × Complex platform for beginners.

IG's home page

② IC Markets

  IC Markets is an Australian broker known for its high-speed trade execution and deep liquidity.

IC Markets
Min Deposit $200
Tradable Instruments 1780+, forex pairs, commodities, stocks, cryptocurrencies, indices, bonds, futures
Demo Account Yes
Costs From 0.6 pips & no commission (Std)
Trading Platforms MT4, MT5, cTrader
Deposits & Withdrawals Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, Wire Transfer, Bpay, Broker to Broker, POLI, Thai/Vietnamese Internet Banking, Rapidpay, Klarna
Customer Support 24/7 live chat, phone, email


  √ Fast execution and deep liquidity.

  √ Advanced trading platforms like MetaTrader4/5 and cTrader are available.

  √ Competitive spreads.


  × Limited educational resources compared to competitors.

  × Minimal additional services.

IC Markets' home page

③ AvaTrade

  AvaTrade is known for its emphasis on education and a diverse selection of trading platforms, along with offering a wide array of financial instruments.

Min Deposit $100
Tradable Instruments 1250+, stock index, stock, commodities, ETF
Demo Account Yes
Costs Typical 0.9 pips on EUR/USD & commission-free
Trading Platforms MT4, MT5, WebTrader, AvaTrade Go
Deposits & Withdrawals MasterCard, Visa, PayPal, Skrill, Neteller, Wire Transfer, etc.
Customer Support Mon - Fri 8:00 - 23:00 live chat, phone, email


  √ Extensive educational content.

  √ Wide selection of trading platforms.

  √ Diverse choice of financial instruments.


  × The withdrawal process is slow compared to other brokers.

  × No 24/7 customer support.

AvaTrade's home page

④ eToro

  eToro is well-recognized for its social trading platform, allowing users to copy the trades of successful traders, along with a user-friendly interface.

Min Deposit $10
Tradable Instruments 3000+, Stocks, Cryptocurrencies, Currencies, Commodities, ETFs
Demo Account Yes
Costs Around 3 pips on EUR/USD & commission-free
Trading Platforms MT4, eToro proprietary platform
Deposits & Withdrawals $5 withdrawal fee for $30 withdrawal amount, eToro Money, credit/debit cards, PayPal, Neteller, Skrill, Rapid transfer, iDEAL, Klarna / Sofort Banking, bank transfer, Online Banking – Trustly (EU region), Przelewy 24
Customer Support 24/5 live chat, email


  √ Innovative social trading features.

  √ User-friendly platform.

  √ A wide range of assets for trade.


  × Higher spreads compared to other brokers.

  × Limited technical analysis tools.

eToro's home page


  XTB is renowned for its award-winning proprietary platform xStation 5, and comprehensive educational resources.

Min Deposit 0
Tradable Instruments 5400+, Forex, Commodities, Indices, Shares, ETFs, Stock CFDs, ETF CFDs
Demo Account Yes
Costs From 0.1 pips & commission-free
Trading Platforms xStation 5, xStation Mobile
Deposits & Withdrawals Free deposits, Bank transfers, credit/debit cards (MasterCard/Maestro/Visa)
Customer Support 24/5 live chat, phone, email


  √ The proprietary trading platform is highly rated for its performance and features.

  √ Excellent educational resources.

  √ A broad selection of financial instruments.


  × Spreads can be higher in some instances.

  × Some advanced research tools are limited to certain account types.

xtb's home page

⑥ XM

  XM is known for providing a wide range of account types, making it suitable for different kinds of traders, and offering both MT4 & MT5 platforms.

Min Deposit $5
Tradable Instruments 1000+
Demo Account Yes
Costs From 1 pip & commission-free (Std)
Trading Platforms MT4, MT5, XM WebTrader
Deposits & Withdrawals Credit/debit cards, Paypal, Skrill Moneybookers, Neteller, WebMoney, CashU, GiroPay
Customer Support 24/7 live chat, phone, email
Bonus Up to $2,000


  √ Provides multiple account types catering to different needs.

  √ Offers both MetaTrader 4 and 5 platforms.

  √ Decent educational materials for beginners.


  × High spreads on some account types.

  × Commissions are applied to the share account.

XM's home page

⑦ Tickmill

  Tickmill is recognized for its competitive pricing and high-speed execution.

Min Deposit 100 USD/EUR/GBP/ZAR
Tradable Instruments Forex, stock indices, stocks & ETFs, bonds, commodities, cryptos, futures & options
Demo Account Yes
Costs From 1.6 pips & commission-free (Classic account)
Trading Platforms MT4, MT5, Tickmill Mobile App
Deposits & Withdrawals Bank transfer, crypto payments, Visa, MasterCard, Skrill, Neteller, Sticpay, Fasapay, UnionPay, Webmoney
Customer Support Mon-Fri 7:00 - 16:00 GMT during Daylight Saving Time-live chat, phone, email


  √ Wide scope of trading instruments.

  √ Fast execution speeds.

  √ Free research tools and educational content.


  × High spreads on the Classic account.

  × No proprietary trading platform.

Tickmill's home page

⑧ Plus500

  Plus500 is a platform known for its intuitive user interface and a wide range of financial instruments to trade.

Min Deposit $/€/£100
Tradable Instruments forex, cryptocurrencies, stocks, indices, commodities, and options
Demo Account Yes
Costs Around 0.6 pips & commission-free
Trading Platforms own proprietary trading platform (desktop, web, and mobile)
Deposits & Withdrawals Visa, MasterCard, PayPal, bank transfers, Apple Pay, Trustly
Customer Support 24/7 live chat, email


  √ User-friendly platform making it easy for beginners.

  √ Wide range of available financial instruments.

  √ Competitive spreads.


  × Limited educational resources.

  × Does not offer MetaTrader platforms.

Plus500's home page

⑨ is known for its AI-driven market insight tools and a wealth of educational content.
Min Deposit 20 USD/EUR/GBP or 100 PLN
Min Withdrawal 50 USD/EUR/GBP
Tradable Instruments 3700+, commodities, indices, cryptocurrencies, stocks, forex, ETFs
Demo Account Yes
Costs 0.6 pips in EUR/USD & commission-free
Inactivity Fee 10 USD or its equivalent of any other currency (free currency conversion)
Trading Platforms Mobile Apps, CFD Trading App, TradingView, MT4
Deposits & Withdrawals Free, Apple Pay, VISA, MasterCard, wire transfer, PCI, Worldpay, RBS, and Trustly
Customer Support 24/7, live chat, phone, email


  √ AI-driven insights for market trends.

  √ Comprehensive educational resources.

  √ Competitive spreads.


  × MetaTrader5 is not available.

  × Inactivity fee is charged.'s home page

​⑩ CMC Markets

  CMC Markets is a well-established broker known for its large range of available trading instruments and advanced charting tools.

CMC Markets
Min Deposit 0
Tradable Instruments forex pairs, indices, cryptocurrencies, commodities, shares & ETFs, treasuries
Demo Account Yes
Costs Around 0.7 pips on EUR/USD & commission-free
Trading Platforms MT4
Deposits & Withdrawals POLi, PayPal, credit/debit cards, bank transfers, cash/cheque
Customer Support 7:30 am – 5:30 pm AEDT live chat, 24/6 phone


  √ Extensive product portfolio to trade from.

  √ Advanced research and charting tools.

  √ Decent educational resources.


  × MetaTrader5 is not available.

  × No 24/7 customer support.

CMC Markets' home page

Forex Brokers in Denmark FAQs

Is Forex Trading Legal in Denmark?

  Yes, Forex trading is legal in Denmark. The financial markets in Denmark, including Forex trading, are regulated by the Danish Financial Supervisory Authority (DFSA).


  DFSA ensures the stability of financial markets in Denmark and the protection of investors, consumers, and market participants by overseeing financial institutions including banks, insurance companies, pension funds, securities dealers, and Forex brokers.

  Additionally, Denmark is a member of the European Union, so it also follows financial regulations outlined by the European Securities and Markets Authority (ESMA), which primarily governs Forex trading across EU member countries.


Is Forex Trading Safe in Denmark?

  Forex trading in Denmark, like in any other place, involves substantial risks. However, the Danish Financial Supervisory Authority (DFSA) regulates the financial markets and brokers in Denmark, which helps to mitigate certain risks associated with fraudulent brokers. The regulator sets rules that brokers must follow to secure customer protection and fair trading.

  However, even with the best regulations in place, the safety of Forex trading still largely depends on the practices of the individual trader. Traders need to educate themselves, use risk management techniques, stay up to date with market conditions, and trade through a trustworthy and regulated broker.

Can I Make Money with Forex Trading in Denmark?

  Yes, it is possible to make money through Forex trading in Denmark. Forex traders aim to profit from the changes in the relative values of different currencies. However, while profit potential exists, so does the potential for significant losses.

  Forex trading requires knowledge, skill, discipline, and an understanding of financial markets. Factors impacting Forex markets include global politics, economic reports, interest rates, and many others. Therefore, staying informed about such factors can help make informed trading decisions.

  Also, using strategies such as risk management can help to limit potential losses. This includes setting stop losses to limit the risk on each trade, not investing more than you can afford to lose, and taking profits when you have them.

  If you are starting, it is a good choice to practice first with a demo account. This allows you to gain a feel for the markets and understand the trading platform without the risk of losing real money.

Do I Pay Taxes for Forex Trading in Denmark?

  Yes, in Denmark, profits from Forex trading are considered income and are subject to tax. They are typically taxed as capital income, which includes income from stocks, bonds, and foreign currency. The specific rate and reporting requirements differ depending on individual circumstances and change over time. It is recommended to consult with a tax professional or the Danish tax authority (Skattestyrelsen) to understand your specific obligations.

What is the Best Time to Trade Forex in Denmark?

  The best time to trade Forex in Denmark typically falls within the trading hours of the major financial markets. There are four major Forex markets globally: New York, London, Tokyo, and Sydney. To make the best out of your trading, the hours when these markets overlap are usually the best time to trade, as this is when the market is most active, with the largest volume of trades.

  The biggest volume of currency trading happens during the London session (8:00 AM to 4:00 PM UK time), followed by the New York session (1:00 PM to 9:00 PM UK time). The period where these two sessions overlap (between 1:00 PM and 4:00 PM UK time) is typically the best time for trading, as this is when liquidity and volatility are at their highest, leading to potentially greater profit opportunities.

  However, Denmark, which is in the Central European Time zone (CET, UTC +1 or CEST, UTC +2 in summer), adjusts these times accordingly. This means that the London session is from 9:00 AM to 5:00 PM local Danish time, and the New York session is from 2:00 PM to 10:00 PM, with the overlap occurring between 2:00 PM and 5:00 PM.

  However, while these provide the highest liquidity, they also have higher volatility, and trading goals and strategies should be considered when deciding the best trading period. Note that these times differ during Daylight Saving Time.

Which Forex Broker is Best for Beginners in Denmark?

  eToro is the best for beginners in Denmark. It is known for its user-friendly platform and unique social trading feature, allowing newcomers to learn from and copy trades from experienced traders. Moreover, they offer many educational resources, which is helpful for beginners trying to understand Forex trading.


Which Forex Broker is Best for Professionals in Denmark?

  IC Markets is the best for professionals in Denmark. They offer superior execution speed, which is crucial for professionals, especially scalpers and high-frequency traders who rely on speed to take advantage of price changes in the market. This ability to execute trades quickly can potentially enhance their trading strategy and increase profit.

IC Markets

Factors to Consider When Choosing a Forex Broker in Denmark

  •   Regulation: The forex broker should be regulated by a reputable financial authority. In Denmark, the Financial Supervisory Authority (DFSA) is responsible for forex brokers' regulation. A regulated broker ensures protection and transparency in transactions.

  •   Reputation: Read reviews and check the broker's overall reputation within the trading community. A well-established, positively reviewed broker is typically a safer choice.

  •   Currency Pairs: Make sure your broker offers the currency pairs you are interested in trading. Most brokers offer the major pairs, but if youre interested in exotic pairs, you need a broker that offers a wide variety.

  •   Account Types: Check if the broker offers different account types. Each type caters to different trader levels, from beginners to professionals, offering different services and benefits.

  •   Leverage: Leverage allows you to trade larger positions than your account balance. While it can amplify profits, it can also augment losses. Make sure your broker offers a leverage level that aligns with your risk tolerance.

  •   Spreads & Commissions: Brokers make money through spreads – the difference between the buying and selling price of a currency pair. Competitive spreads can save you money in the long run. Also, be aware of any additional commissions that might be charged.

  •   Trading Platforms: The trading platform is your gateway to the forex market. It should be user-friendly, offer advanced charting tools, and be stable with minimal technical issues.

  •   Deposits & Withdrawals: Funding and withdrawing from your account should be hassle-free. Check if the broker supports a wide variety of payment options, including banks, credit cards, and online payment services.

  •   Customer Service: Effective customer support is crucial. The forex market operates 24 hours, five days a week, and your broker should be available all this time. Also, the response should be timely and in a language you're proficient in.

  •   Educational Resources: Especially for beginners, educational resources are vital for understanding forex trading. These can include webinars, E-books, blogs, and even demo accounts for practice.

  •   Remember, there is no one-size-fits-all broker. You need to evaluate your trading needs and then choose a broker that best meets those needs.

Final Thoughts

  As we wrap up our comprehensive guide to the best Forex brokers in Denmark for 2024, bear in mind that the perfect broker differs from trader to trader, largely depending on individual trading styles, risk appetites, and priorities. Whether it's user-friendliness for beginners, advanced platforms for pros, or competitive spreads for day traders, the crux lies in identifying your needs and matching them with the right broker. And even with the best broker, remember that success in Forex trading is a product of ongoing learning, strategic planning, and disciplined trading. Equip yourself with these, and you're set to face the exciting world of Forex trading in 2024.


  Trading Forex (foreign exchange) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, risk appetite, and the possibility of incurring losses. There is a possibility that you may sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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