How to Start Forex Trading in Hungary

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Contributor, Benzinga
May 19, 2023

Hungary’s forex market continues to mature with its overall economy. The National Bank of Hungary (MNB) has taken a more active role in changing the public perception of foreign exchange. It has also created a secure environment for trading as one of the only central banks in Europe that is also an independent regulatory body.

Hungary also abides by the directives of the Markets in Financial Instruments Directive (MiFID) and the European Economic Area (EEA) Agreement. The result is that many unscrupulous brokers simply choose to steer clear of Hungary, making way for Hungarian forex investors to have solid connections to the market.

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.

Get Started with Forex in Hungary

Hungary’s secure regulatory infrastructure does not relieve you of the responsibility for your own financial health. No regulatory system can catch everyone who is trying to commit fraud. Make sure that your personal financial infrastructure is solid so that you can trade knowing that you are protected.

  1. Get a stable internet: Connecting to the internet should be a relatively simple process if you live in the more developed areas of Hungary. Make sure that your connection is solid and private — it is best not to trade over public connections.
  2. Choose a forex broker: The MiFID, EEA and MNB all regulate forex brokers that are doing business in Hungary. This is a start, but you also need a broker that provides services beyond the minimum officially required. Integration into your personal financial system and good customer service is also very important.
  3. Connect your bank: Brokers that are in compliance with Hungary’s strict standards must keep your money separate from theirs. They must also provide a certain level of security for your deposits and withdrawals. You can check a broker’s terms of service to see exactly what you should get. Don’t be afraid to pay higher fees for better service, especially if you plan on using margin.
  4. Fund your account: Once you have vetted your forex broker and tested your bank connection, you should feel confident to fund your investment account through your attached bank or credit card. Some forex brokers are also integrated with popular fintech apps.
  5. Interface: Your trading interface should provide you with an intuitive landscape to make your trades. It should be streamlined to add no latency to your software chain. It should also work well with your preferred device, whether that is a desktop setup or a smartphone.
  6. Start trading: You can now start investing in the forex market safely. You should probably begin with your broker’s demo account (the account that trades with fake money).

Attribution: Wikimedia

Hungarian Forex Trading Strategies

Your personality is vitally important when learning how to trade forex. If you do not have the patience for position trading, you may like day trading more, or vice versa.

Day Trading

Your internet connection and broker play a huge part in your success as a day trader. Because of the speed and frequency of trades in this space, day traders need to consume information in real-time and have access to an uninterrupted feed. Make sure that your broker can do this without slowing down your execution. You may have to exit a trade within seconds of entering it and you can’t do this if you are experiencing downtime or buffering.

Swing Trading

Swing traders are masters of hourly and daily price charts. They don’t trade with an extremely high frequency like day traders, but they may keep many investments open at one time. Swing traders may have to let a position develop over days or weeks. News that affects the price of a currency does not always take effect immediately, but the swing trader is an expert on how certain news will affect a currency pair.

Positional Investing

Positional investors are investors who buy and hold for long periods of time. The irregularities between price and value show themselves over months or years, so investments based on this may take that long to develop. Charts, indicators and news cycles are not as important to this type of investor. If you like translating the political relationships between countries into economics, then position trading may be for you.

Forex Trading Example in Hungary

0.0032/0.0036 is the price right now for the HUF/USD currency pair. Because you think this bid/ask spread is low, you order Ft1,250,000 with your broker. The margin rate on HUF/USD is 5.33%. You can control an Ft1,250,000 investment with $226.53 cash in your account. 

After 6 hours, the HUF/USD price is 0.0040/0.0044. This is a 4-point move that makes you a total profit of (Ft1,250,000 x 0.0040) – (Ft1,250,000 x 0.0036), or $500.

Making Money with Forex in Hungary


Attribution: Netcials

Now that you are trading according to your personality, you can move into the day-to-day strategies that will make money in the forex market.

  • Short selling: Short sellers sell weak currencies against strong ones and profit when the weaker currency falls in value.
  • CFDs: Contracts for differences let you follow the price of a currency without owning it.
  • Binary options: Most options track currency prices directly, but binary options offer only a yes or no scenario.

Best Online Forex Brokers in Hungary

There are plenty of forex brokers that are regulated through the MNB, but this is just a minimum standard. Make sure that your chosen forex broker provides you with the ability to move money and answer your questions quickly.

  • securely through HYCM Capital Markets's website
    securely through HYCM Capital Markets's website
    Best For:
    Forex Trading
    Read Review
  • securely through NON US's website
    securely through NON US's website
    Best For:
    Forex Trading in and Outside the U.S.
    Read Review

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.

  • securely through eToro Forex's website
    securely through eToro Forex's website
    Best For:
    Demo Accounts
    Read Review

    CFD trading is not available to U.S. users. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

  • securely through AvaTrade's website
    securely through AvaTrade's website
    Best For:
    Non US Forex Trading
    Read Review

Forex Terminology

Forex shorthand is a way that market investors communicate with one another easily. Here are some of the most important terms.

  • Pip: $0.0001, shorthand for “percentage in point”
  • Lot size: Your order size
  • Orders: The way you describe your buy or sell in the market
  • Calls: A contract to control a future currency order

Forex Hungary: A Culture of Investing

Hungary has a reputation for investing, and its government seems as though it wants to create more investors in the future. If you are trading forex from Hungary, you have the advantage of a strong regulatory body and a solid currency. Build your personal financial infrastructure carefully, and you will be in a strong starting position to trade.

If you are looking for up-to-date information and the latest strategies for the forex market, bookmark this website and check back often.


Is it legal to trade Forex in Hungary?


Yes, it is legal to trade Forex in Hungary.


Is is safe to trade Forex in Hungary?


It is saafe to trade Forex in Hungary because of the many regulations brokers must abide by.


Where can I find a credible Forex broker in Hungary?


To find the best Forex brokers in Hungary, you can use the list above.

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