Trading Forex in Austria  | We Compare Brokers
Home page -> Find a Broker -> Europe Forex Brokers -> Trading Forex in Austria 

Trading Forex in Austria 

Are you interested in trading forex in Austria, also known as Österreich? One very important step will be to choose your online retail forex broker. To begin your journey, you will need a trustworthy broker with a free demo system to help you practice. We have prepared a list below of the very best ones to help you with your selection process and have also relayed a few essential tips to guide your effort. 

Trading foreign currency pairs has gained great popularity across the globe over the past two decades. The number of active online forex traders in Austria is nearly 20,000 at the last count, compared to 1.5 million in all of Europe and 10 million worldwide. In recent years, there has been increased interest due to the COVID-19 pandemic, with more and more individuals working from home. Let us help you get started.

Quick Broker Finder

Preferred Trading Region
Country
Broker Type

Forex Brokers Austria

3.8
Pros
  • Easy to understand spread prices
  • No minimum deposits
  • In-depth FAQ section to help new traders
  • Excellent customer support
Cons
  •  UK traders can’t use the rewards programme due to regulation
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Easy to understand spread prices
  • No minimum deposits
  • In-depth FAQ section to help new traders
  • Excellent customer support
Cons
  •  UK traders can’t use the rewards programme due to regulation
Read Full Review

Tickmill Review
4.9
Pros
  • Low-cost and super-fast trading
  • Lots of third-party trading signal services
  • Strong regulatory framework
  • Gets the most out of the MetaTrader platforms
Cons
  • A relatively limited number of markets
  • It doesn’t accept clients from the USA
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Low-cost and super-fast trading
  • Lots of third-party trading signal services
  • Strong regulatory framework
  • Gets the most out of the MetaTrader platforms
Cons
  • A relatively limited number of markets
  • It doesn’t accept clients from the USA
Read Full Review

Risk Warning: Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Losses can exceed the initial investment. Please ensure you fully understand the risks and take appropriate care to manage your risk.

4.2
Pros
  • An experienced broker with offices in 11 countries and complies with seven regulatory agencies
  • Over 1,000+ tradable instruments in portfolio
  • MT4 and proprietary trading platforms
  • Excellent award-winning training materials and a YouTube channel for beginners

 

Cons
  • Professional spreads are competitive, but retail spreads could be better
  • Inactivity fees apply
  • Research could be improved

 

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • An experienced broker with offices in 11 countries and complies with seven regulatory agencies
  • Over 1,000+ tradable instruments in portfolio
  • MT4 and proprietary trading platforms
  • Excellent award-winning training materials and a YouTube channel for beginners

 

Cons
  • Professional spreads are competitive, but retail spreads could be better
  • Inactivity fees apply
  • Research could be improved

 

 

Take Me Broker Read Full Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4.6
Pros
  • High levels of regulatory compliance and customer protection
  • Excellent customer support
  • Huge range of high-quality learning and research resources
Cons
  • Relatively few advanced trading courses offered
  • Limited social and copy-trading features
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • High levels of regulatory compliance and customer protection
  • Excellent customer support
  • Huge range of high-quality learning and research resources
Cons
  • Relatively few advanced trading courses offered
  • Limited social and copy-trading features
Take Me Broker Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

4
Pros
  • Fin-tech background provides a cutting edge
  • Institution grade trading infrastructure
  • Well-regulated with 24/5 customer support
  • 0.0 pips spreads and leverage up to 1:500

 

Cons
  • No crypto
  • Some cash withdrawal methods incur fees.

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Fin-tech background provides a cutting edge
  • Institution grade trading infrastructure
  • Well-regulated with 24/5 customer support
  • 0.0 pips spreads and leverage up to 1:500

 

Cons
  • No crypto
  • Some cash withdrawal methods incur fees.

 

Read Full Review

4.1
Pros
  • A Well-established name in the industry with over a decade of operation
  • Excellent trading conditions with deep liquidity to ensure fast and efficient trades
  • Open and transparent pricing structure
Cons
  • Only two main account types
  • Selection of instruments not particularly extensive
  • Spreads on crypto CFDs are not the most competitive
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • A Well-established name in the industry with over a decade of operation
  • Excellent trading conditions with deep liquidity to ensure fast and efficient trades
  • Open and transparent pricing structure
Cons
  • Only two main account types
  • Selection of instruments not particularly extensive
  • Spreads on crypto CFDs are not the most competitive
Take Me Broker Read Full Review

78.8% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Degiro logo
4.2
Pros
  • Largest online low-cost/commission stockbroker in the EEA
  • Listed on the SDAX in Germany (70 small to mid-cap stocks)
  • Broad access to global stock exchanges, ETFs, bonds, futures and options
  • Garnered many awards, especially for Customer Service

 

Cons
  • No trading in forex except for experienced option traders
  • No demo account
  • Restricted crypto offering
  • No US citizens accepted

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Largest online low-cost/commission stockbroker in the EEA
  • Listed on the SDAX in Germany (70 small to mid-cap stocks)
  • Broad access to global stock exchanges, ETFs, bonds, futures and options
  • Garnered many awards, especially for Customer Service

 

Cons
  • No trading in forex except for experienced option traders
  • No demo account
  • Restricted crypto offering
  • No US citizens accepted

 

Read Full Review

Investing involves risks. You can lose (a part of) your deposit. We advise you to only invest in financial products which match your knowledge and experience.

4.5
Pros
  • Great choice of trading platforms
  • 1,000+ instruments
  • Low minimum deposit
Cons
  • No cryptocurrencies
  • Support is not 24/7
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Great choice of trading platforms
  • 1,000+ instruments
  • Low minimum deposit
Cons
  • No cryptocurrencies
  • Support is not 24/7
Take Me Broker Read Full Review

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4.6
Pros
  • Knowledgeable and responsive customer support
  • Tight spreads
  • Low deposit requirements
  • Good sign up bonus and other promotions
Cons
  • Limited deposit and withdrawal options
  • Customer support not 24/7
  • Regulatory framework not the strongest
  • Limited range of instruments and markets
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Knowledgeable and responsive customer support
  • Tight spreads
  • Low deposit requirements
  • Good sign up bonus and other promotions
Cons
  • Limited deposit and withdrawal options
  • Customer support not 24/7
  • Regulatory framework not the strongest
  • Limited range of instruments and markets
Take Me Broker Read Full Review

Saxo Broker Review
4.6
Pros
  • Extensive product range
  • Research and analysis tools
  • Quality trading platform
  • Competitive spreads
  • Regulatory framework
Cons
  • Standing charges
  • Limited automated trading
  • Lack of Live Chat support
  • High minimum deposit
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Extensive product range
  • Research and analysis tools
  • Quality trading platform
  • Competitive spreads
  • Regulatory framework
Cons
  • Standing charges
  • Limited automated trading
  • Lack of Live Chat support
  • High minimum deposit
Read Full Review

4
Pros
  • Transparent and competitive pricing
  • High quality trading experience
  • Great charting package
  • Extensive range of markets and instruments
  • Regulatory and operational strength
Cons
  • Limited research on some instruments
  • Few promotions / bonus schemes
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Transparent and competitive pricing
  • High quality trading experience
  • Great charting package
  • Extensive range of markets and instruments
  • Regulatory and operational strength
Cons
  • Limited research on some instruments
  • Few promotions / bonus schemes
Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

4.3
Pros
  • Competitive tight spreads, zero commissions on stocks
  • MetaTrader4 and 5 trading platform products and superior web version and mobile app
  • CySEC regulatory oversight
  • 250+ focused product offerings of popular assets for trading
Cons
  • Education support could be broader than videos and FAQs
  • The product portfolio may appear limited to some investors and traders
  • No copy-trading alternative
  • Customers from the US are not accepted
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Competitive tight spreads, zero commissions on stocks
  • MetaTrader4 and 5 trading platform products and superior web version and mobile app
  • CySEC regulatory oversight
  • 250+ focused product offerings of popular assets for trading
Cons
  • Education support could be broader than videos and FAQs
  • The product portfolio may appear limited to some investors and traders
  • No copy-trading alternative
  • Customers from the US are not accepted
Take Me Broker Read Full Review

Trading CFDs involves substantial risk of loss and may not be suitable for all investors. Trading such high-risk financial contracts may result in the loss of all the client's invested capital. 77.7% of retail investors lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and can afford to take the high risk of losing your money.

4.1
Pros
  • Heavily regulated, safe and secure broker (FCA, CySEC, FSCA)
  • Competitive spreads in currency pairs – 0.7 pips EUR/USD
  • MT4 and user-friendly proprietary OvalX platform
  • Experienced staff, over two decades in the forex space

 

Cons
  • Limited copy trading offering – MT4 only via EAs
  • Research could be better
  • No US or Canada customers accepted at this time

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Heavily regulated, safe and secure broker (FCA, CySEC, FSCA)
  • Competitive spreads in currency pairs – 0.7 pips EUR/USD
  • MT4 and user-friendly proprietary OvalX platform
  • Experienced staff, over two decades in the forex space

 

Cons
  • Limited copy trading offering – MT4 only via EAs
  • Research could be better
  • No US or Canada customers accepted at this time

 

Take Me Broker Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. UK: 68.61%, EU: 77.99% of retail investor accounts lose money when spread betting or trading CFDs with OvalX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.

3.9
Pros
  • Major focus on social and copy trading with community of one million clients
  • More than 1,000 tradable asset choices
  • Professional trading tools and multiple funding methods
  • BaFin/CySEC regulatory oversight of German-based firm on Frankfurt Stock Exchange

 

Cons
  • Spreads and fees could be more competitive at basic retail levels
  • Withdrawal fee of $5 with complicated process
  • Does not offer service to residents of UK (terminated December 2021), US or Canada

 

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Major focus on social and copy trading with community of one million clients
  • More than 1,000 tradable asset choices
  • Professional trading tools and multiple funding methods
  • BaFin/CySEC regulatory oversight of German-based firm on Frankfurt Stock Exchange

 

Cons
  • Spreads and fees could be more competitive at basic retail levels
  • Withdrawal fee of $5 with complicated process
  • Does not offer service to residents of UK (terminated December 2021), US or Canada

 

 

Take Me Broker Read Full Review

RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading derivatives with this provider. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money.

4.2
Pros
  • No commissions on stocks or ETFs
  • Easy account opening process with minimum deposits of £1 or €1
  • Intuitive, easy-to-use trading app
  • Low fees and tight spreads
Cons
  • No trading in cryptocurrencies
  • No social or copy-trading
  • No phone support
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • No commissions on stocks or ETFs
  • Easy account opening process with minimum deposits of £1 or €1
  • Intuitive, easy-to-use trading app
  • Low fees and tight spreads
Cons
  • No trading in cryptocurrencies
  • No social or copy-trading
  • No phone support
Take Me Broker Read Full Review

CFDs are complex instruments and come with a high degree of risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4
Pros
  • Low fee/cost provider
  • Responsive customer service
  • A proprietary web-based platform is easy to use
  • Top-Tier regulation from the FCA
Cons
  • No MetaTrader platform products
  • No traditional trading in stocks, only CFDs
  • Only Professional clients can trade cryptocurrencies
  • Minimum support for beginners
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Low fee/cost provider
  • Responsive customer service
  • A proprietary web-based platform is easy to use
  • Top-Tier regulation from the FCA
Cons
  • No MetaTrader platform products
  • No traditional trading in stocks, only CFDs
  • Only Professional clients can trade cryptocurrencies
  • Minimum support for beginners
Take Me Broker Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can result in losses larger than your initial stake or deposit.

oanda broker platform review
4
Pros
  • Low trading costs, high transparency, and a choice of trading platforms.
  • Best Forex Trading Technology at the UK Forex Awards, 2017.
  • Excellent proprietary platform.
  • Only 52 CFD’s
Cons
  • Not the cheapest broker out there.
  • Intensive FAQ section.
  • Customer support could use some improvement.
  • No negative-balance protection.
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Low trading costs, high transparency, and a choice of trading platforms.
  • Best Forex Trading Technology at the UK Forex Awards, 2017.
  • Excellent proprietary platform.
  • Only 52 CFD’s
Cons
  • Not the cheapest broker out there.
  • Intensive FAQ section.
  • Customer support could use some improvement.
  • No negative-balance protection.
Read Full Review

We do not recommend Oanda at this time. Why not try XM

XM Broker Review

fxpro broker platform review
4.3
Pros
  • FxPro is a fully regulated, award-winning, online broker offering a wide range of tradable instruments via CFDs.
  • Customer support is responsive, easy to access, and available in several languages.
  • Wide range of trading instruments offered.
  • Large client base from 170 countries.
Cons
  • All fees and charges are displayed on the website, but the fee structure is a little complex.
  • Not many funding options offered.
  • Some complains about trade execution.
  • No Crypto.
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • FxPro is a fully regulated, award-winning, online broker offering a wide range of tradable instruments via CFDs.
  • Customer support is responsive, easy to access, and available in several languages.
  • Wide range of trading instruments offered.
  • Large client base from 170 countries.
Cons
  • All fees and charges are displayed on the website, but the fee structure is a little complex.
  • Not many funding options offered.
  • Some complains about trade execution.
  • No Crypto.
Read Full Review

FXCM broker review
4
Pros
  • Choose from the best trading platforms on the market
  • System upgrades and institutional grade quality of execution
  • Excellent client support in terms of research, analysis and customer services
  • Strong regulatory framework
  • High-spec mobile trading functionality
Cons
  • Limited number of markets to trade
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Choose from the best trading platforms on the market
  • System upgrades and institutional grade quality of execution
  • Excellent client support in terms of research, analysis and customer services
  • Strong regulatory framework
  • High-spec mobile trading functionality
Cons
  • Limited number of markets to trade
Read Full Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See broker reviews

What to look for when choosing a forex broker in Austria

There will be several forex brokers with tempting offers on the internet, but many of these will be unregulated and located in far-off locales. The latter are to be avoided due to the prevalence of fraud in these jurisdictions. The brokers in the above list are safe and regulated, but you will want to choose one that supports the assets you wish to trade and has an excellent performance track record. Here are a few primary considerations:

  • Fees and commissions: Check for fees and low spreads posted by the broker. Are they tight? Use the ‘EUR/USD’ spread for comparative purposes. Do the best spreads only apply to professional accounts? Use our comparative function to assess one broker versus another.
  • Regulation – are they safe? There are some bad actors in the virtual world. Do not be tempted by offers that are too good to be true. Stick with a regulated broker, preferably one that complies with a major regulatory agency.
  • Forex trading platform: Does your candidate allow you to access a free demo system? Most brokers will provide access to a practice system before you fund an account. Familiarise yourself with how the platform works and test your trading strategy. MetaTrader 4 (MT4) is the standard in the industry.
  • Customer service: Can you easily access support via live chat, phone or email? Is there a local office in the country or does it publish location addresses on its website? It’s a good sign if it does. Is the broker multilingual, and does it support your native language? If you are a beginner, you will want to have quick answers to your questions from a professional.

FAQs:

Is forex trading legal in Austria?

Yes, the trading of foreign currency pairs is a legal activity within Austria. The Financial Market Authority (FMA) has regulatory oversight responsibilities for the forex trading market in the country, but this agency also complies with regulations from the European Securities and Markets Authority (ESMA). The FMA recommends that you trade with regulated brokers that accept Austrian traders, but not necessarily with one licensed by this regulator.

Do forex traders pay tax in Austria?

According to PricewaterhouseCoopers, investment earnings on foreign held deposits are reportable income on your Austrian tax return and subject to a 27.5% tax rate. It is always wise, however, to check with your personal tax advisor to determine if any special extenuating circumstances apply in your specific case.