Situated in Eastern Europe, Ukraine boasts a dynamic currency exchange market attracting 11,500 potential forex traders. Despite regulatory leniency by the National Securities and Stock Market Commission (SSMCS), market fluctuations persist due to political instability and economic crises.
This article serves as a succinct guide to entering Ukraine's forex trading landscape, focusing on key aspects such as market dynamics and evaluating premier brokers based on regulation, trading products, and fees. Stay tuned for insights into navigating this unique market.
Top 7 Best Forex Brokers in Ukraine for 2024
Competitive spreads, high leverage up to 1:200, diverse trading platforms including MetaTrader 4 and its proprietary platform IG Trading.
A wide range of markets hosts educational workshops, offers direct market access, and 24-hour customer support.
Unlock your trading potential with a trusted platform tailored for Ukrainian traders.
Navigate the forex market confidently with a top-tier solution designed for Ukraine's trading landscape.
Encourages collaborative trading through a unique social interaction feature that facilitates peer learning, idea sharing, and a communal development of trading strategies
Offers an impressively wide asset coverage with a diverse portfolio of over 2,000 different financial instruments, extending from traditional assets like stocks and commodities to innovative options like cryptocurrencies and thematic investing
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Comparison of the Best Forex Brokers in Ukraine
Forex Broker
License
Minimum Spread
Maximum Leverage
Minimum Deposit
Open account
Details
Compare
Best Forex Brokers in Ukraine Overall
IG – the Best MetaTrader 4/5 Broker in Ukraine
Experience Ultimate Trading with IG: Your Gateway to over 18,000 Global Markets. Unleash Potential with High Leverage, Competitive Spreads, and Multiple Platform Options. Empowering Traders Through Knowledge with Educational Workshops and 24/7 Customer Support.
| IG Snapshot⭐⭐⭐⭐⭐ | |
| Regulatory status | FCA, ASIC, FSA, NFA, FMA, MAS and DFSA |
| Minimum initial deposit | $0 |
| Maximum leverage | 1:200 |
| Minimum spread | 1 pips for EURUSD |
| Trading platform | Intuitive web platform, MetaTrader 4, L2 dealer and mobile apps |
| ????Pros | ????Cons |
| Regulated by multiple international financial bodies | Lack of proprietary trading platform |
| Access to a wide variety of financial instruments | Limited educational resources |
| A robust selection of trading platforms | Costs may be higher in less liquid markets or with lower trading volume |
| Multilingual customer support across various channels | High fees for credit card deposits |
| No minimum deposit requirement | |
| Competitive leverage up to 1:200 | |
| Demo account with virtual financing of $20,000 | |
| Allows for trading on-the-go with mobile apps |
FOREX.com - the Best Forex Brokers with Robust Regulatory Compliance
FOREX.com has garnered recognition as one of Ukraine's premier trading platforms, earning a place among the country's top brokers. Tailored to meet the diverse needs of Ukrainian traders, it stands out for its user-friendly interface, robust regulatory compliance, and an extensive array of trading products.
| FOREX.com Snapshot⭐⭐⭐⭐⭐ | |
| Regulatory Authorities | FCA, IIROC, NFA, ASIC, CySEC, MAS, CIMA |
| Minimum initial deposit | $100 |
| Maximum leverage | N/A |
| Minimum spread | N/A |
eToro- the Best Copy Trading brokers in Ukraine
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 | Higher spreads compared to some other brokers |
| 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 for practice | Limited customer support options |
AvaTrade - the Best Online Forex and CFD Trading Broker in Ukraine
Residents in Ukraine can trade with peace of mind at Avatrade. Regulated by multiple financial authorities worldwide including ASIC, CBI, FSA, FSCA, FSC, CBI, FFAJ, Avatrade provides a secure and regulated trading environment. Investing with Avatrade is a reliable and transparent choice for online Forex and CFD trading.
| AvaTrade Snapshot | |
| Regulation | ASIC, CBI, FSA, FSCA, FSC, CBI, FFAJ |
| Minimum Deposit | $100 |
| Leverage | 1:400 |
| Min. Spreads | 0.9 pips on the EUR/USD pair |
| Trading Platforms | AvaTradeGO, MT4, MT5, WebTrader, AvaOptions, DupliTrade |
| ????Pros | ????Cons |
| Regulated by reputable financial authorities | Minimum deposit requirements relatively higher compared to other brokers |
| Competitive spreads and fees | Limited bonus and promotional offers |
| Multiple trading platforms | No online chat supported |
| Wide range of deposit and | Limited trading instruments |
Interactive Brokers - the Best Forex Broker for beginners in Ukraine
Interactive Brokers, commonly referred to as IB, ranks as one of the best traders in Ukraine for various reasons. Founded in 1978 in the United States, and headquartered in Greenwich, Connecticut, IB has a global reach with offices in several countries like the United Kingdom, Hong Kong, and Australia. The company provides electronic brokerage services, catering to the needs of both individual and institutional clients. They offer a wide array of financial products including stocks, options, futures, forex, bonds, and funds, proving to be a one-stop-shop for diverse financial needs. Moreover, IB is regulated by top financial authorities globally such as the US Securities and Exchange Commission (SEC) and the UK Financial Conduct Authority. This range of product offerings and trusted regulation bring assurance to the trading experience, making IB an excellent choice for traders in Ukraine.
| Interactive Brokers Snapshot⭐⭐⭐⭐⭐ | |
| Regulatory Authorities | SASIC, FCA, FSA, SFC |
| Minimum initial deposit | HKD10,000 |
| Maximum leverage | 1:400 |
| Minimum spread | 0.1 pips |
| ????Pros | ????Cons |
| • Wide range of trading instruments | • Complex platform and steep learning curve |
| • Advanced trading platform with many features | • Monthly inactivity fee if account balance is below $100,000 |
| • Low trading fees and commissions | • High minimum deposit requirements for some account types |
| • Access to international markets and exchanges | • Limited research and educational resources |
| • Multiple account types to choose from | • Customer service can be slow and unresponsive |
| • Strong regulatory oversight and safety of client funds | • No fixed spread available |
VT Markets - the Best Forex Broker with Multiple Trading Assets in Ukraine
VT Markets, with its headquarters in Sydney, stands as one of the top recommended traders in Ukraine. As a regulated subsidiary of Vantage International Group, an organization boasting over a decade of experience in the global financial markets, it offers a depth of expertise and security to its clients. The firm operates under the Financial Sector Conduct Authority (FSCA) and provides trading in a broad spectrum of instruments including currencies, commodities, and indices, amongst others. VT Markets is committed to providing competitive trading conditions, including a reasonable minimum deposit of $100, rapid execution of trades, and leverage of up to 1:500. Additionally, it supports both MetaTrader 4 and 5 platforms, offering a stable, flexible trading experience with a wealth of features, indicators, and options for automated trading. This combination of impressive service, attractive trading conditions, and solid regulatory backing seamlessly positions VT Markets as a highly recommended trader for Ukrainians.
| VT Markets Snapshot⭐⭐⭐⭐⭐ | |
| Regulation | Regulated by FSCA |
| Market Instrument | forex, precious metals, soft commodities, indexes, cryptocurrencies, energy, US stocks and Hong Kong stocks |
| Account Type | STP & Raw ECN |
| Maximum Leverage | 1:500 |
| Trading Platform | MetaTrader4, MetaTrader5, WebTrader, Mobile App |
| Minimum Deposit | $200 |
| ????Pros | ????Cons |
| Wide range of trading instruments | Limited regulatory oversight |
| Low trading fees | Limited educational resources |
| Multiple account types | Limited customer support options |
| Multiple trading platforms, MT4, MT5 and Webtrader | No demo accounts |
| Flexible leverage up to 1:500 | Limited research and analysis resources |
| Swap-free options available | |
| Wide selection of payment methods | |
| Social Trading Available | |
| Deposit and welcome bonuses offered |
PLUS500 - the Best CFD Trading Platform in Ukraine
As an online platform, Plus500 offers Contracts for Difference (CFDs) on a diverse array of financial instruments, which covers stocks, forex, commodities, cryptocurrencies, options, and indices. This broad selection of instruments enables traders to diversify their investment strategies. Plus500's platform is accessible in more than 50 countries, appealing to a global clientele, and supports over 30 languages, displaying a clear commitment to inclusivity and user convenience. These factors collectively help cement Plus500's place as a recommended trader in Ukraine.
| PLUS500 Snapshot⭐⭐⭐⭐⭐ | |
| Regulation | FCA, CySEC, ASIC, FMA, MAS |
| Market Instruments | forex, cryptocurrencies, stocks, indices, commodities, and options |
| Leverage | 1:30 (forex), 1:20 (indices), 1:10 (commodities), 1:2 (cryptocurrencies), 1:5 (stocks) |
| EUR/USD Spread | 0.5 pips |
| Trading Platforms | own proprietary trading platform (desktop, web, and mobile) |
| Minimum deposit | $/€/£100 |
| ????Pros | ????Cons |
| • Simple and easy-to-use trading platform | • Limited product offering |
| • Commission-free trading | • Limited research and educational tools |
| • Tight spreads | • No support for MetaTrader platform |
| • Negative balance protection | • Limited customer support options |
| • Regulated by reputable financial authorities | • No phone support |
| • Free demo account | • Withdrawal fees for some payment methods |
| • Limited trading tools and features |
Forex Trading Knowledge Questions and Answers
Is Forex Trading in Ukraine Legal?
Yes, Forex trading is legal in Ukraine. But it's recommended to only work with brokers that are regulated by some reputable regulatory authorities and well-established to ensure safety and security in trading.
Tips for Choosing a Forex Broker
Choosing the right forex broker is essential for successful trading.
Firstly, understanding your trading styleis crucial; ensure the broker aligns with your preferences and offers the necessary tools for day trading, scalping, or swing trading.
Regulatory complianceis non-negotiable—verify the broker's status with a reputable agency to safeguard your funds.
Additionally, compare transaction costs, scrutinizing fee structures to avoid surprises. Test the trading platform through demo accounts, and prioritize brokers with responsive customer service available 24/7.
In trading, wisely choosing currency pairs is paramount. Conduct thorough analyses of pairs, understanding the dynamics between base and quote currencies. When deciding to 'buy' or 'sell,' base your choice on careful analysis. Implement stops and limits to manage risk effectively, considering normal, guaranteed, or trailing stops. Initiating your first trade involves opening an account, navigating the platform, and choosing 'buy' or 'sell' based on your analysis. Monitor trades and set notifications for thresholds, closing positions through the platform or executing opposite transactions. These steps form a comprehensive guide to navigate the forex market efficiently.
Which broker is suitable for beginners in Ukraine?
Interactive Brokers can be a suitable choice for newcomers in Ukraine for several reasons.
Firstly, the broker provides a comprehensive trading platform that caters to a range of trading styles, making it adaptable for beginners exploring different strategies. The user-friendly interface and educational resources offered by Interactive Brokers can significantly assist new traders in navigating the complexities of the forex market.
Moreover, Interactive Brokers is known for its competitive fee structure, allowing users to trade at relatively low costs. This is particularly beneficial for beginners who may be conscious of transaction expenses while gaining experience in the market. Additionally, the broker's commitment to regulatory compliance provides a sense of security for traders in Ukraine, ensuring that their funds are handled with transparency and integrity. Overall, Interactive Brokers combines a user-friendly platform, educational support, competitive fees, and a strong regulatory framework, making it a recommended choice for new traders venturing into the Ukrainian forex market.
Trading Hours in Ukraine
The Forex market in Ukraine operates on a24-hourbasis from Sunday 10 PM UTC to Friday 10 PM UTC. This offers the convenience of trading at any time.
However, it's important to remember that the Forex market has different trading sessions which correlate to business hours of major financial markets: The Pacific session (Wellington, Sydney), the Asian session (Tokyo, Singapore, Hong Kong), the European session (Frankfurt, London) and the American session (New York, Chicago).
During these overlap periods, the market can be highly volatile due to high trading volumes, offering potential opportunities for traders.
To Conclude
Ukraine's legal and relaxed foreign exchange environment provides foreign exchange traders with confidence in forex trading. In our rankings, how to choose the most suitable trader for yourself requires comprehensive assessment from multiple aspects such as regulatory situation, your trading preferences, and fees. If you are a novice, it is recommended to choose one with a simulated account to practice your trading strategy; If you are a veteran trader, you can customize your trading process, which completely depends on you.
We would like to express our deep gratitude to our sincere reader friends, WikiFX is always known for being comprehensive and professional, we hope our assessment can bring you good help, we will also continue to accompany you in the growth of the trading market, whether you are a novice or a veteran.
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