Forex trading is legal and very well-regulated in Norway. Forex brokers are primarily regulated by the Finanstilsynet (Financial Supervisory Authority of Norway). The FSA of Norway ensures the financial markets' integrity and investor safety within the country. As a member of the European Economic Area (EEA), Norway also aligns with EU regulations regarding financial services adding another layer of security and regulatory standards Forex brokers have to follow.
Norway is not a member of the EU, but the MiFID II (Markets in Financial Instruments Directive) and ESMA-regulated brokers can accept clients within the country without local regulations due to the close ties of Norway with the EEA.
Like in other European Economic Area countries, in Norway too, the maximum leverage for retail Forex traders is restricted to 1:30 for major pairs and 1:20 for non-major currency pairs.
The most popular regulator in the EEA is CySEC of Cyprus which adheres to the general rules in EU and EEA financial regulations. Brokers regulated in Cyprus can be considered suitable for FX traders in Norway.
The Investor Compensation Scheme in Norway is aligned with the EU directive like in other countries that are members of the EEA. The limit for eligible investors in case of broker insolvency is 20,000 EUR, which is an extra layer of safety for all FX traders in Norway.
In Norway, income from financial trading profits falls under ordinary income and is taxed accordingly. The tax rate for income is 22% in Norway, meaning forex traders will have to pay 22% of the profits they make in financial markets.
Quick overview of the best Forex brokers in Norway
Here is a quick overview of the best Forex brokers available in Norway.
XM
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Visit broker 8.4 8.34 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% 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.
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Tickmill
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Visit broker 7.6 6.29 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 Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.
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AvaTrade
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Visit broker 8.8 7.63 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.
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Pepperstone
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Visit broker 8.2 7.75 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% 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.
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FP Markets
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Visit broker 6.88 4.98 Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors. Features of our products including fees and charges are outlined in the relevant legal documents available on our website. The legal documents should be considered before entering into transactions with us.
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| Offers accounts in Norway under | CySEC, Cyprus | CySEC, Cyprus | CySEC, Cyprus | CySEC, Cyprus | CySEC, Cyprus |
| Account entity for Norway | Trading Point of Financial Instruments Limited | Tickmill Europe Ltd | DT Direct Investment Hub Ltd | Pepperstone EU Limited | First Prudential Markets Ltd |
| Spreads on EURUSD | From 1 pip | From 1.6 pips | From 0.9 pips | From 1 pip | From 1.0 pips |
| Spreads on Crude Oil | from 0.02 | - | 0.03% over market | From 2.5 | From 0.02 |
| Spreads on Brent Oil | from 0.02 | From 0.04 | 0.01% over market | From 2.5 | From 0.02 |
| Spreads on Gold | From 2.6 pips | From 0.09 USD | 0.29 USD over market | From 0.5 USD | From 0.22 USD |
| Spreads on BTC/USD | From 46.00 | - | - | From 17 pips | From 11.63 |
| Maximum Leverage | 1:30 for retail (1:1000 for pros) | 1:30 for retails, 1:500 for professionals | 1:30 for retail traders | 1:30 (1:400 for pro traders) | 1:30 for retail traders in Norway, 1:500 for professionals |
| Minimum Deposit | 5 EUR | 100 EUR | 100 EUR | 0 EUR | 100 EUR |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade | MetaTrader 4 and 5, cTrader | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
XM
The entity of the XM operating within Norway is Trading Point of Financial Instruments Limited under the CySEC license. The broker accepts clients from Norway and offers very low spreads and no commissions for Forex trading.
The exact list of tradable instruments provided by the XM is listed below:
- 50 Forex pairs
- 58 Cryptocurrencies
- 1000+ stock CFDs
- 7 turbo stocks
- 8 commodities
- 20 indices
- 3 precious metals
- 3 energies
- 26 stocks from the EU
XM has one of the lowest minimum deposit requirements in Norway with deposits starting as low as 5 EUR. Leverage for retail FX traders in Norway is limited to 1:30 and professionals can get up to 1:1000 depending on the trading asset class.
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8.4
8.34
| Micro | Standard | XM Ultra Low | |
|---|---|---|---|
| Spreads on EURUSD | From 1 pip | From 1 pip | From 0.6 pips |
| Spreads on Crude Oil | from 0.02 | from 0.02 | from 0.02 |
| Spreads on Brent Oil | from 0.02 | from 0.02 | from 0.02 |
| Spreads on Gold | From 2.6 pips | From 2.6 pips | From 1.5 pips |
| Spreads on BTC/USD | From 46.00 | From 46.00 | From 35.00 |
| Minimum Deposit | 5 USD, EUR, GBP | 5 USD, EUR, GBP | 5 USD, EUR, GBP |
| Minimum lot size | 0.01 lots | 0.01 lots | 0.01 lots |
| Maximum leverage | 1:30 for retail (1:1000 for pros) | 1:30 for retail (1:1000 for pros) | 1:30 for retail (1:1000 for pros) |
| Negative Balance Protection | Yes | Yes | Yes |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
Tickmill
Tickmill is available in Norway and is a very well-regulated broker with one of the lowest spreads in the industry. The entity accepting clients from Norway is Tickmill Europe Ltd, which is regulated by the Cyprus Securities and Exchange Commission (CySEC). Tickmill offers access to diverse markets for Qatar residents including
- 62 Forex pairs
- 15 indices
- 7 commodities
- 500 stock and ETFs
- 15+ futures and options
Tickmill offers stocks from the EU and EEA which may be attractive for traders from Norway. .
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7.6
6.29
| Pro | Classic | VIP | |
|---|---|---|---|
| Spreads on EURUSD | From 0.0 pips | From 1.6 pips | From 0.0 pips |
| Commissions | 2 USD per side per lot | none | 1 USD per side per lot |
| Spreads on Crude Oil | - | - | - |
| Spreads on Brent Oil | From 0.04 | From 0.04 | From 0.04 |
| Spreads on Gold | From 0.09 USD | From 0.09 USD | From 0.09 USD |
| Spreads on BTC/USD | - | - | - |
| Minimum Deposit | 100 USD/EUR/GBP | 100 USD/EUR/GBP | - |
| Maximum Leverage | 1:30 for retails, 1:500 for professionals | 1:30 for retails, 1:500 for professionals | 1:30 for retails, 1:500 for professionals |
| Negative Balance Protection | Yes | Yes | - |
| Minimum Lot Size | 0.01 lots | 0.01 lots | 0.01 lots |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
AvaTrade
AvaTrade is a regulated broker that is available in Norway. The entity accepting traders from Norway is DT Direct Investment Hub Ltd regulated by the CySEC in Cyprus. The complete list of tradable instruments offered by AvaTrade is:
- 64 Forex pairs
- 629 shares as CFDs
- 19 cryptocurrencies as CFDs
- 30 indices
- 17 commodities
The leverage for retail Forex traders in Norway is limited to 1:30 for major pairs and 1:20 for non-major currency pairs, while professionals can get up to 1:400.
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8.8
7.63
| Retail | Professional | |
|---|---|---|
| Spreads on EURUSD | From 0.9 pips | From 0.3 pips |
| Commissions | 0 USD | 0 USD |
| Spreads on DAX40 | 1.00 pips over the market | 1.00 pips over the market |
| Spreads on Crude Oil | 0.03% over market | 0.03% over the market |
| Spreads on Brent Oil | 0.01% over market | 0.01% over market |
| Spreads on Gold | 0.29 USD over market | 0.29 USD over market |
| Spreads on BTC/USD | 0.15% Over-market | 0.15% Over-market |
| Minimum Deposit | 100 EUR | 100 EUR |
| Maximum Leverage | 1:30 for retails, 1:400 for pros | 1:400 |
| Negative Balance Protection | Yes | Yes |
| Minimum Lot Size | From 0.01 lots | From 0.01 lots |
| Trading Platforms | MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade | MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
Pepperstone
Pepperstone is a popular and reliable broker that is available in Norway. The branch accepting clients from Norway is Pepperstone EU Limited and it is regulated by the CySEC of Cyprus allowing it to operate within the EEA and the EU region.
Trading instruments offered by Pepperstone in a wide range of asset classes include
- 62 currency pairs
- 1,000+ share CFDs
- 23 crypto CFDs
- 32 commodities
- 23 indices
Two accounts offered by Pepperstone target different types of Forex traders in Norway, day traders and intraday traders. The leverage for retail traders in Norway is limited to 1:30 for major FX pairs and 1:20 for non-major currency pairs. Professional traders can get up to 1:500 leverage, allowing them to control 500 times larger positions than the trading account size.
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8.2
7.75
| Razor account | Standard account | |
|---|---|---|
| Spreads on EUR/USD | From 0 pips | From 1 pip |
| Spreads on DAX40 | from 0.90 USD | from 0.90 USD |
| Spreads on Crude Oil | From 2.5 | From 2.5 |
| Spreads on Brent Oil | From 2.5 | From 2.5 |
| Spreads on Gold | From 0.5 USD | From 0.5 USD |
| Spreads on BTC/USD | From 17 pips | From 17 pips |
| Commissions | USD 3.50 (USD 7 round turn or equivalent in EUR) | No |
| Minimum Deposit | 0 EUR | 0 EUR |
| Minimum lot size | From 0.01 lots | From 0.01 lots |
| Negative Balance Protection | Yes | Yes |
| Maximum Leverage | 1:30 (1:400 for pro traders) | 1:30 (1:400 for pro traders) |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader | MetaTrader 4, MetaTrader 5, cTrader |
FP Markets
FP Markets is not regulated in but is available in Norway. The broker is overseen by the Cyprus Securities and Exchange Commission (CySEC) and the entity operating in Europe and accepting clients from EEA including Norway is First Prudential Markets Ltd.
FP Markets is regulated in several other countries and provides access to a wide range of trading instruments on diverse trading platforms:
- 63 Forex pairs
- 12 cryptos
- 16 indices
- 11 commodities
- 10,000+ shares, bonds, and ETFs
The leverage is capped at 1:30 for majors and 1:20 for non-major Forex pairs for retail FX traders in Norway, while professionals can get up to 1:500.
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6.88
4.98
| Standard | Raw | |
|---|---|---|
| Spreads on EUR/USD | From 1.0 pips | From 0.0 pips |
| Spreads on Crude Oil | From 0.02 | From 0.02 |
| Spreads on Brent Oil | From 0.02 | From 0.02 |
| Spreads on Gold | From 0.22 USD | Between 0 - 0.08 USD |
| Spreads on BTC/USD | From 11.63 | From 11.63 |
| Commissions | 0 USD | 3 USD per side per lot |
| Minimum Deposit | 100 EUR | 100 EUR |
| Minimum lot size | From 0.01 lots | From 0.01 lots |
| Negative Balance Protection | Yes | Yes |
| Maximum Leverage | 1:30 for retail traders in Norway, 1:500 for professionals | 1:30 for retail traders in Norway, 1:500 for professionals |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
Best choice of the broker in Norway for each Category
While the brokers listed in our quick overview are all checked and tested to be reliable choices different traders might search for different things in FX brokers. Some traders love to trade Gold while others prefer stocks or commodities. To ensure our readers can select suitable brokers with just one glance we are going to select the best brokers for each of the popular asset categories including Forex trading, stock trading, commodities, and cryptos.
Best Broker in Norway for Forex Trading
| XM | Tickmill | AvaTrade | Pepperstone | FP Markets | |
|---|---|---|---|---|---|
| Number of Forex pairs | 50 | 62 | 64 | 62 | 63 |
| Typical spreads on EUR/USD | From 1 pip | From 1.6 pips | From 0.9 pips | From 1 pip | From 1 pip |
As we can AvaTrade is the sole winner in both the number of available Forex pairs and the lowest spreads among competitors for major EUR/USD pair on standard accounts.
Best Broker in Norway for Stock Trading
| XM | Tickmill | AvaTrade | Pepperstone | FP Markets | |
|---|---|---|---|---|---|
| Number of stocks | 1000+ | 500 | 629 | 1,000+ | 10,000+ |
| Spreads on stocks | From 0.01 USD | - | From 0.13% | - | - |
| Commissions for stocks | 0 | 0 | 0 | 0.07% | 0.06% |
| Max leverage for stocks | - | 1:20 | 1:10 | 1:20 | - |
XM is by far the best broker in Norway for stock trading because of its low spreads, zero commissions, and dedicated trading account for stocks. XM also offers turbo stocks.
Best Broker in Norway for commodities Trading
| XM | Tickmill | AvaTrade | Pepperstone | FP Markets | |
|---|---|---|---|---|---|
| Number of commodities | 14 | 7 | 17 | 32 | 11 |
| Typical spreads on Crude Oil | from 0.02 | - | 0.03% over market | From 2.5 | From 0.02 |
| Typical spreads on Brent Oil | from 0.02 | From 0.04 | 0.01% over market | From 2.5 | From 0.02 |
| Typical spreads on Gold | From 2.6 pips | From 0.09 USD | 0.29 USD over market | From 0.5 USD | From 0.22 USD |
For trading oil products and other commodities except gold, XM is best in Norway with its low spreads. However, Tickmill has the lowest spread for gold trading from 0.09 which is super low.
Best Broker in Norway for Crypto Trading
| XM | Tickmill | AvaTrade | Pepperstone | FP Markets | |
|---|---|---|---|---|---|
| Number of crypto pairs | 58 | - | 19 | 23 | 12 |
| Spreads on BTC/USD | From 46.00 | - | 0.15% Over-market | From 17 pips | From 11.63 |
For crypto trading, XM has the highest number of various crypto instruments while AvaTrade has the lowest spread on BTC/USD.
How to check whether the broker is regulated by the FSA of Norway?
There are several ways to ensure your broker is allowed and can legally accept clients from Norway. The one is to check if the broker is regulated in the EU or EEA. The second approach is to check if the broker is on the list of regulated entities in Norway by the Finanstilsynet. We will provide a step-by-step process to access and search for the regulated entities in the Finanstilsynet database of companies.
Step One: Visit the webpage of the regulator
The first step is to visit the website of Norwegian FSA (www.finanstilsynet.no/en). Users can select their preferred language and start exploring the website.
Step Two: Navigate to the database of the brokers
Scroll down to the search bar and enter the name of the broker you want to search in the FSA registry. The website will redirect you to the mode advanced search page where you can use filters and search details of all regulated companies and brokers.
Step Three: Search for the broker in the registry
Use filters to search brokers in Norway or other EEA country's regulations. Ensure to select a company to reduce the number of results.
All Finanstilsynet -regulated brokers reviews in Norway
Below is the list of all Forex brokers that are regulated in Norway and their full unbiased reviews.
