Forex Brokers in Greece
Forex brokers in Greece are overseen by both the EU regulator, which is the European Securities and Markets Authority (ESMA) and the Hellenic Capital Market Commission (HCMC). Therefore, forex brokers in Greece have the same restrictions as brokers in other EU countries regarding the trading leverage and negative balance protection scheme.
Besides overseeing and licensing forex brokers in Greece, HCMC is also responsible for overseeing the broader financial markets in Greece, as well as companies listed on the Athens Stock Exchange. Since there is no requirement for a forex broker to be regulated in Greece, many forex brokers from other European countries also offer their services to Greek forex traders.
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If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.
FAQ
What is the best forex broker in Greece?
Finding the best forex broker in Greece is not much different from choosing the right broker in general. Aside from making sure that the forex broker is available for client registration from Greece, you need to check its regulation, minimum deposit, spread, leverage, payment methods, and other trading-related aspects that may affect your strategy. Furthermore, make sure that the broker has a good credibility and reliable customer support.
Where can I trade forex in Greece?
The list in this page can be a good reference if you look to trade with in Greece. We have sorted specific forex brokers that accept clients from Greece, so you can choose one of the brokers by comparing their minimum deposit, regulation, leverage, and rating. If you are interested to learn further about a certain broker, feel free to click the review button.
What is the best forex broker for beginners?
If you are a beginner and looking for the right broker to trade forex in Greece, some aspects that you need to pay attention to are the low minimum deposit, demo account, and educational features. Apart from that, it's also better to make sure that the broker has good customer service because as a beginner, you may need to consult about broker services that still seem incomprehensible to you.
How do brokers get their income?
There are various ways a broker can get their money. Here are some of them.
- Spread
- Trading against the client
- Commissions
Continue Reading at Trading Commission Based on Forex Broker Types
What are reliable forex broker regulations?
Some of the top regulatory agencies in the world include:
- The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the United Kingdom
- The Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the United States
- The Swiss Financial Market Supervisory Authority (FINMA) in Switzerland
- The Australian Securities and Investments Commission (ASIC) in Australia
- The Financial Services Agency of Japan (JFSA) in Japan
- The Cyprus Securities and Exchange Commission (CySEC) in Cyprus
If the broker you use is regulated by one of the regulatory agencies above, you can be confident that it is safe. The reason is that these regulatory agencies have strict requirements that brokers must meet to be licensed.
Only the most reputable and trustworthy brokers can obtain a license.
Continue Reading at How to Avoid Forex Broker Scams
What are the different categories of forex brokers?
Forex brokers can be categorized into several types, each serving a distinct group of traders:
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Prime Brokers: These brokers are primarily used by professional and experienced traders.
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PoP (Prime of Prime) Brokers: PoP brokers primarily cater to retail traders and deal directly with liquidity providers.
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STP (Straight Through Processing) Brokers: STP brokers often label themselves ECN or STP model brokers and aim to provide direct access to the market without a dealing desk.
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DD (Dealing Desk) Brokers: DD brokers create their market and act as the liquidity provider.
Continue Reading at Trading Commission Based on Forex Broker Types
Why is it considered illegal for forex brokers to trade on behalf of clients?
In many well-known financial jurisdictions, regulatory authorities prohibit forex brokerages from trading on behalf of clients. This is due to the inherent conflict of interest, as brokers can be incentivized by client losses or gains.
Continue Reading at 3 Types of Companies that Trade Forex for You
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