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Best Forex Brokers in France

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Contributor, Benzinga

Want to jump straight to the answer? The best forex broker for most people is definitely FOREX.com or IG.

If you’re a French investor and you want to find the best forex broker that services clients in France, you’ll find some solid opportunities in France.

It’s imperative to ensure the safety of your funds and determine whether they can satisfy your trading requirements before you fund an account with a specific broker.

Best Forex Brokers in France:

Account Minimum
$100 USD (or equivalent)
Pairs Offered
69
Get started securely through HYCM’s website
Account Minimum
$100 USD (or equivalent)
Pairs Offered
69
1 Minute Review

HYCM is 1 of the world’s leading forex brokers, offering investors access to over 69 unique currency pairs. However, forex isn’t the only thing the broker offers — HYCM also offers high rates of leverage, stock and ETF trading, commodity investing and much more. Getting started with HYCM is quick and easy, and most investors can open an account in as little as 10 minutes.

HYCM offers a varying fee structure, which allows investors to choose the spread option that’s best for them. A wide range of educational and investing tools are available, which can be equally beneficial to both experienced and novice traders. Though HYCM isn’t currently available in the United States, it can be a great choice for residents of the other 140 countries where it offers service. 

Best For
  • Investors who want a customizable fee schedule
  • Traders comfortable using the MetaTrader platform
  • Islamic traders who need swap-free accounts that don’t build interest
Pros
  • Wide range of currency pairs available
  • Excellent selection of educational tools
  • $0 deposit and withdrawal fees
Cons
  • Not currently available to traders based in the U.S.
Account Minimum
$100
Pairs Offered
80+
Get started securely through FOREX.com’s website
Account Minimum
$100
Pairs Offered
80+
1 Minute Review

FOREX.com is a one-stop shop for forex traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for brokers searching for a home base for their currency trading. New traders and seasoned veterans alike will love FOREX.com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While FOREX.com is impressive, remember that it isn’t a standard broker.

Best For
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders
Pros
  • Impressive, easy-to-navigate platform
  • Wide range of education and research tools
  • Access to over 80 currencies to buy and sell
  • Leverage available up to 50:1
Cons
  • Cannot buy and sell other securities (like stocks and bonds)
Account Minimum
$50 USD
Pairs Offered
47
Get started securely through eToro’s website
Account Minimum
$50 USD
Pairs Offered
47
1 Minute Review

Though Australian and British traders might know eToro for its easy stock and mobile trading, the broker is now expanding into the United States with cryptocurrency trading. U.S. traders can begin buying and selling both major cryptocurrencies (like Bitcoin and Ethereum) as well as smaller names (like Tron Coin and Stellar Lumens).

eToro offers traders the opportunity to invest their assets into premade portfolios or cryptocurrencies, similar to services offered by robo-advisors through traditional brokers. Though eToro isn’t a one-stop-shop for everything an investor needs, its easy-to-use platform and low spreads is a great way to enter the cryptocurrency market.

Best For
  • International Forex/CFD Traders
  • New cryptocurrency traders looking for an easy-to-use platform
  • Traders who want to buy and sell cryptocurrencies on-the-go
Pros
  • Simple platform that is easy to master
  • CopyTrader feature that allows new traders to copy the same strategies used by professionals
  • Virtual dummy account that gives you $100,000 to practice trades
Cons
  • U.S. traders currently limited to cryptocurrencies
  • Only 15 major coins available to trade
Best For
Customer Service
Overall Rating
Get started securely through Pepperstone’s website
Best For
Customer Service
N/A
1 Minute Review

Pepperstone is an Australian broker focused on providing international forex, CFD and cryptocurrency trading. Though U.S. traders currently cannot open an account with Pepperstone, the broker remains an affordable and comprehensive option for international traders. 

Pepperstone offers traders access to over 61 forex markets, over 60 CFDs for index funds and stocks and 5 cryptocurrencies. Leverage options with Pepperstone are extensive; you may qualify for up to 500:1 leverage when trading currencies and up to 5:1 leverage when trading cryptocurrencies, for example.

There are a few areas where Pepperstone can afford to improve. We’d love to see Pepperstone add its own trading platform in the future instead of relying entirely on 3rd-party platforms. We’d also love to see direct stock and fund purchase options in the future. Despite these flaws, Pepperstone remains a very strong choice for international traders.

Best For
  • International traders interested in trading CFDs from foreign markets and currencies
  • Traders who are already familiar with the MetaTrader or cTrader platforms
  • Traders who are looking for leverage when trading cryptocurrencies
Pros
  • Access to over 61 forex pairs and over 60 stock CFDs
  • Leverage available for both forex and cryptocurrency trading
  • Wide range of educational tools and courses that both beginners and experts can use
  • 24/7 customer service
Cons
  • Not currently available to U.S. traders
  • No option to purchase stocks, bonds or mutual funds directly; only CFDs are available
Account Minimum
100 EURO
Pairs Offered
50+
Get started securely through AvaTrade’s website
Account Minimum
100 EURO
Pairs Offered
50+
1 Minute Review

A fully regulated broker with a presence in Europe, South Africa, the Middle East, British Virgin Islands, Australia and Japan, Avatrade deals with mainly forex and CFDs on stocks, commodities, indexes, forex, cryptocurrencies, etc. This brokerage is headquartered in Dublin, Ireland and began offering its services in 2006. It offers multiple trading platforms and earns mainly through spreads.

Best For
  • Beginners
  • Advanced traders
  • Traders looking for a well-diversified portfolio
Pros
  • Controlled by regulatory agencies of multiple countries
  • Choice offered in terms of trading platforms
  • Support available in 14 languages and trading platforms in 20 languages
  • Practice/demo account available for trying out
  • Breadth of trading assets
Cons
  • Does not accept customers from the U.S. as it isn’t regulated in the U.S.
  • Transferring funds to the account may take up to five days; withdrawals could take up to 10 days

An Overview of Forex Trading in France

France has a long history of involvement in the financial markets, and the French enjoy the opportunities made available by being part of the European Union (EU). Trading currencies have become popular among French traders, so there’s demand for brokers that service customers in France.  

A member of the Eurozone, France uses the EU’s consolidated euro (EUR) currency as its national currency, which replaced the French franc in 2002 after the euro was introduced on Jan. 1, 1999. In its 2016 Triennial Central Bank Survey, the Bank for International Settlements (BIS) noted that the euro has been involved in 31.4 percent of daily forex market turnover. The consolidated currency was also ranked second among the most actively-traded currencies of 2016.

France’s chief financial regulator is the Autorité Des Marchés Financiers (AMF), or financial markets regulator. The AMF was established under the Financial Security Act (2003) by merging three national regulators into one, and the rules that France’s AMF enforces include the EU’s MiFID regulations.

Forex and CFD brokers who want to take on French clients can either be authorized by the AMF or use the MiFID’s passporting rules if they’re regulated in another member state of the EU.  

In September 2016, the French AMF banned all advertising for over the counter (OTC) derivative financial products with leverage ratios higher than 5:1. This marketing restriction includes forex, CFD and binary options trading, and it was done in response to an AMF report about disreputable online forex and binary options brokers which fraudulently take advantage of French traders.

Furthermore, the European Securities Markets Authority (ESMA) has taken on a supranational role regarding the regulation of EU financial markets. The ESMA recently rolled out new regulations that impose leverage limits of 30:1 for forex trading at EU-based brokers. They also prohibit binary options trading and require brokers to offer negative balance protection to prevent EU clients from losing more than their deposits.

What to Look for in a Great Forex Broker

All forex brokers are not created equal, so you need to make sure a broker will keep your money safe and has the services you need as a trader operating from France. Here are some important considerations to keep in mind before choosing to trade through an online broker:

Regulation

Make sure any broker you decide to trade through is well regulated, ideally with oversight by the AMF.  

Type of Broker

Most online brokers are market makers, Electronic Communications Network (ECN) brokers or No Deal Desk (NDD) brokers.

Commissions and Dealing Spreads

Dealing spreads and commissions raise trading costs, so you’ll need to keep them as low as possible. Generally, ECN brokers offer narrower dealing spreads but charge commissions, while market makers have wider spreads but don’t charge commissions.

Trading Platform

Check out the trading software or platforms to see if they’re easy to use and meet your requirements. Many traders want to see support for MetaTrader 4 or 5.

Customer Service

Make sure you can read your broker’s website and communicate effectively with its support staff via phone and live chat, especially if you prefer to use French.

Research, Analysis and Educational Materials

Both new and experienced traders need learning tools.

The Best Forex Brokers in France

A list of our picks for the best online brokerage firms that provide services to French traders appears below. Most of them have a website translated into French, and if the broker supports MetaTrader 4 or 5, then you can use that trading platform’s French language option.

Choosing a broker with an office in France — or at least the EU — might be ideal in case you ever need to solve a dispute. A local presence also tends to encourage brokers to meet regulations so they can avoid customer complaints to their regulators.

Many major online forex brokers offer customer service in French. They may even have their website and trading platform translated into the language, especially advantageous for you if you prefer to do business in French rather than English.

Note that the maximum leverage ratios permitted for EU-based clients dealing through ESMA-regulated providers like the EU-based subsidiaries of the brokers listed below are:

  • 30:1 for major currency pairs
  • 20:1 for non-major currency pairs, gold and major indices
  • 10:1 for commodities other than gold

The following recommended forex brokers or their parent companies all appear on the Banque de France’s searchable Financial Agents Register (Regafi) that lists all French or foreign companies authorized to operate in France by the Autorité de Contrôle Prudentiel et de Résolution (ACPR).  

Account Minimum
$100
Pairs Offered
80+
Minimum Trade Size
$1,000
Spread
0.2 pips – 1.0 pips
Commisions
$0 – Variable starting at $60 per million traded depending on account
Best For
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders

Best Overall: FOREX.com

FOREX.com is a trade name of GAIN Global Markets Inc. This broker ranks as the top forex broker measured by client assets.

FOREX.com submits to regulation in the United States under the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). The broker is also regulated in another seven jurisdictions, including the U.K. and Canada.

Although its website does not currently appear to have a version in French, traders from France may open accounts at FOREX.com with the broker’s U.K. entity regulated by the EMSA.

The minimum deposit for a live account is €50, and the broker allows you to trade micro lots. FOREX.com segregates clients’ money from its own and has an Islamic swap free account option. You will also enjoy the security of negative balance protection.

FOREX.com provides clients with its proprietary Advanced Trading Platform and its Web Trading platform. It also supports popular third-party platforms like MetaQuotes’ MetaTrader 4 and 5 platforms, as well as NinjaTrader.

Read Benzinga’s full FOREX.com Review

Commissions
Depends on security and leverage
Account Minimum
$50 for US and Australia; $200 everywhere else
Best For
  • U.S.-based cryptocurrency traders
  • Social and copy traders
  • Simple user interface
  • Community engagement and following other traders

eToro

eToro is a social trading platform that has provided forex products and more to retail clients for over 10 years.

With 10 million account holders worldwide, eToro allows users to be a part of the trading community.

eToro’s most popular trading features for forex trading are CopyTrader, CopyPortfolios, and the Social News Feed.

With CopyTrader and CopyPortfolio, you can locate a successful trader and copy their strategy. With the ability to copy up to 100 traders, this feature is easy to set up and access.

With the Social News Feed, you get access to a Twitter-esque feed to trader updates. Traders discuss the markets, their strategies, and are able to get alerts based on certain market factors.

Read Benzinga’s full eToro Review

Start Trading Today

You can choose any of the reputable brokers listed above to approach to open an account just by visiting their website. The brokers also allow you to check out their services and trading platform by quickly opening up a demo account initially.

Once you want to open a live account, the broker will then ask you for more detailed information to identify you and obtain funding from you in a sufficient amount to satisfy the broker’s minimum deposit requirement.

Get a Forex Pro on Your Side

FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
  • Powerful, purpose-built currency trading platforms
  • Monthly cash rebates of up to $9 per million dollars traded with FOREX.com’s Active Trader Program

Learn more about FOREX.com’s low pricing and how you can get started trading with FOREX.com.

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