5 Best Online Forex Brokers in Denmark – In Depth Review 2024

Want to jump straight to the answer? The best forex broker for traders is Avatrade

The #1 Forex Trading Course is Asia Forex Mentor

If you live in Denmark, the brokers support payment options to help you quickly withdraw profit and deposit. The fees they provide are very cheap and support MT4, MT5, and cTrader trading platforms.

They offer the cheapest fees and support MT4, MT5, and cTrader trading platforms. When you trade in Denmark you should know about your choices with an Austrian trading broker. You have to stay in the loop for markets in Northern Europe such as Denmark.

Many brokers also include helpful educational and research tools to provide beginners an enhanced knowledge about the trading process. The signup bonus for the newbies is also outstanding for traders in Denmark. Moreover, it is safe, trusted, and has a long-term history in the world of Forex.

We bring to you the excellent trading sites where you can trade in Denmark, trade Forex, Indices, CDFs, CTFs, Binary, Stocks, Options, and cryptocurrencies such as Bitcoin and Ethereum. Let’s discuss the brokers in detail!

Best Online Forex Brokers in Denmark

5 Best Online Forex Brokers in Denmark

#1. Best Advanced for Non-US Traders: Avatrade

Avatrade is one of the safest online brokers and is regulated by the top tier-one jurisdiction. This is the reason which makes it a trustful CFD and Forex broker. The range of marketing is great, and it should also be good for traders. Avatrade is offering its clients worthy selections for trading platforms.

Avatrade has stopped the trading platforms like mirror trader and Robox. With dedicated web trading platforms like meta-trader and Avatrade acting as an alternative, it offers a huge variety of platforms catering to automated and manual traders. The Central Bank of Ireland and securities and exchange commission declares it the best broker for social trading.

Avatrade attracts traders with different skills and levels to offer them an adaptable trade site. There are more than 200000 registered clients with a trading volume of 2 million per month. Want more to know about this CDF and forex broker? Let’s take a closer look!

How does it work?

Before you start trading forex with AvaTrade, please be aware of the possible risks. CFDs in particular are very complex and your capital is at risk if you don’t know what you are doing. Nonetheless, getting started with AvaTrade is actually not that hard. The first step is to sign up for trading accounts.

It would be best to start with a demo account and then upgrade to live trading accounts when you are ready. Some personal info will be needed before the account is approved including simple KYC questions and questions about your trading experience.

Once the account is active, you can go ahead and add some money. The min deposit at AvaTrade is $100 but you can deposit more depending on your trading needs. Once the deposit is reflected in your trading accounts, you can choose a trading platform and start investing in currency pairs and other asset classes on this platform.

Pros

• Fast and effortless account opening
• Different withdrawal and deposit issues
• Excellent research tools
• Effective and reliable functioning

Cons

• Incredible inactivity fees
• Average forex fees

Price

As with many forex brokers these days, AvaTrade offers commission-free trading on currency pairs and other assets including stocks. Now, this of course does not mean you won’t be charged for trading. The bid/ask spread structure is often employed in determining payable fees.

The good news is that AvaTrade has some of the tightest spreads. For example, in the EUR/USD pair, spreads start from as low as 0.9 pips. For large volume traders with professional trading accounts, the spreads are even lower. Based on this, it is clear that AvaTrade fees are well in line with other competitors like FXCC and others.

#2. Best Intermediate for Non-US Traders: FXCC

If you are looking for the best forex brokers when it comes to trade execution and speed, then FXCC has to be your first choice. The broker also comes with easy-to-use trading platforms, making it a great choice for intermediate forex traders. You also get very low fees with spreads starting from as low as o.1 pips.

FXCC also has a superb variety of tradable assets including metals, commodities, currency pairs, and stocks. As for folks who would love to trade with leverage, FXCC offers 1:300, one of the highest in the industry. There is also a dedicated team of customer support reps standing by to help you with anything and in-depth educational materials to help you get started with trading forex.

FXCC is also regulated by tier 1 bodies in various jurisdictions, including the Cyprus Securities and Exchange Commission Cysec and ASIC in Australia. For these reasons, the broker makes it to the list of the best firms to work within forex trading.

How does it work?

As the second-best forex broker, it also provides users to leverage. It can make multiple the initial accounts balance. But as a matter of fact, it should be used very wisely as it can increase the power of losses too.

For the convenience of traders, they can start a risk-free trial of 30 days on a demo account to easily test new strategies and practice skills before they commit real money. Following some easy steps, you can start up with your practice account loaded with virtual funds of 10000 dollars.

You can connect your trading account from any place with the help of the MT4 mobile phone app. Due to its easy-to-use reliability and interface, the state-of-the-art platform gets good feedback.

Pros

• 100% first deposit
• Free Virtual Private Server
• Includes MetaTrader 4 platform
• high leverage trading

Cons

• It does not include Denmark based traders
• Lacks different trading platforms

Price

FXCC offers some of the lowest trading fees of any forex broker. There are even some trading accounts that come with commissions free trading on several supported assets. FXCC offers low spreads too, starting from as low as 0.1 pips depending on trade volume, liquidity, and type of asset.

The EUR/USD currency pair is the most liquid and has massive trade volumes. Here, you are likely to pay close to zero fees. The fees charged by the broker are below the industry average, making it a great choice for high-volume active traders.

#3. Best Overall Broker: Forex.com

FOREX.com provides various offerings from spread betting to CFDs across various asset classes, but every region can access all. It is considered safe due to having a long track record. The top financial tiers regulate this trading forex broker.

The parent company of this forex broker has been listed on the stock exchange. Aside from the forex market, where derives the name, FOREX.com also offers indices, commodities, ETFs, bonds, individual stocks, silver, and gold.

The Denmark service offers clients’ accounts security like ESMA-mandated anti-guaranteed to stop losing orders and balance protection. FOREX.com is ideal for every trader who seeks exposure to a wide array of asset classes and materials.

It is a great fit for high-volume forex traders. Material offerings vary by place but still, it emphasizes reliable and fast execution, diversity of other and Forex platforms, and security accounts. In Denmark, it’s geared to those interested in trading foreign exchange markets.

How does it work?

FOREX.com gives accessibility to more than 80 currency pairs along with a competitive spread over various types of accounts to clients in Denmark.

A navigable and well-organized website along with complete disclosure of fees and services, research, and education tools. Furthermore, multiple user interfaces are on par along with the industry’s standards and regulatory oversight place.

So it depends upon your location and the entity holding your account that what is available for you on FOREX.com. You can trade cryptocurrency using CFDs; also, underlying asset trading is not available, for instance, buying bitcoin.

The web Trading Platform of FOREX.com is recommendable for casual traders because it is simple to browse through place trades and markets and conduct searches. TradingView powers all the charts as well, as it is loaded with approximately ten chart types, 100 indicators, and 14 timeframes.

Within the forex platform, the investors can access economic calendars, positions, charts, news and order or trade history, access research reports and trade signals, and market analysis from the FOREX.com analysts.

 Pros

• A wide variety of products
• TradingView charts
• Ideal for high-volume traders
• User-friendly and reliable

Cons

• No guaranteed for Denmark clients
• Lacks effective website maintenance

Price

Forex.com charges both fixed commissions and spread-based fees depending on the account you are using. So, if you choose a commission-based account, you will pay a flat fee of USD 5 per standard lot, which is around 100K. You will also incur spread costs even if there is a fixed commission on the trade.

For instance, let’s say you decide to purchase 200, 000 EUR/USD with a maximum spread of around 0.2 pips. The flat commission charged here will be $10. However, the 0.2 spread will attract an additional fee of $2 per trade. This will translate to about USD 12 in fees. The trade volume is what determines how much you pay but even then, the fees at Forex.com are competitive compared to other brokers.

#4. Best for International Forex Traders: eToro

For the cryptocurrency investors in Denmark, EToro has a graphics-intensive web platform. At the same time, the clients who are not in Indonesia are advised to trade contracts and stocks for the difference. A key feature of such a special proprietary platform is that the client can easily implement copy trading.

The main point of your experience with eToro is the ease it provides to complete tasks and carry out basic operations. The more instruments include searching the market available, making watchlists, and directly placing trades from the watchlist.

How does it work?

EToro platform features investors who like to follow risk-control rules and want to be duplicated. The retail account holders are accessible to mimic trading strategies and trades of many successful customers in real-time and automatically.

Note that the copy trading in and itself does not hold a guarantee of losses or gains. This platform is a little pricier concerning its competitors for trading Forex and CFDs. Although the recent introduction of zero-dollars commission and cutting spreads for the trading stock is beneficial.

All the investors on the eToro are trading manually. EToro does not permit completely trading systems like those supported by M.T. Thus, when you copy trade the Etoro, it is guaranteed that every placed trade is manual.

Pros

• 15 cryptocurrencies options
• Easy-to-use website
• Great community for traders

Cons

• Broad Spreads for trading cryptocurrencies
• $25 minimum deposit

Price

The clients in Denmark who trade cryptocurrencies have to pay 0.75 percent to 5.0 percent; this depends upon which currency you trade. In contrast, customers out of Denmark don’t have to pay any commission to close or open a long position. Small sales invite 0.18 percent commission of the trade value.

The clients in Denmark are not charged for withdrawal of funds, except you are supposed to have a minimum withdrawal of 30 dollars. The withdrawal fee for out of Denmark customers is 5 dollars.

#5. Best for Execution: IG

One of the advanced trading platforms, IG brokers, includes a forex trading platform that’s effortless to customize and is user-friendly. The forex market traders also involve educational tools for funding, learning, and other aspects with different trading platforms available.

You will also find many useful educational tools for learning. Funding and withdrawing money is easy, and there are multiple options, as illustrated by the commodity futures trading commission. Besides this, the Forex broker includes a foreign exchange with currency pairs to provide retail investor accounts.

It offers advanced trading account features for stock CFDs. You will find a limited product portfolio as these forex traders involve options trading and foreign exchange features. The customer support is second to none with currency market options to get the maximum benefit.

Therefore, IG brokers are for users looking for forex trading within Denmark. Anyone who desires to trade foreign exchange markets will find these forex brokers a top choice. IG opts to provide exclusive forex trading services from low spread costs, actionable research, customer service, interfaces, and more, making it one of the most exclusive online brokers in the market.

How does it work?

IG platform includes multiple choices and currency trading options, API interfaces starting from proprietary web-based options with effortless and customizable features. This forex broker is an excellent trading platform with easy and stable browser access, and that’s a valuable advantage for forex and CFD traders.

Moreover, the fee options are budget-friendly, but the contract sizes are smaller than regular retail traders. Have you got that? You will find both the vanilla and barrier trade options with no deposit and account fees.

Besides this, the CFD trading option is a web-based trading platform loaded with broad features to provide innovative functions and copy trading options. Usability is the heart of professional traders that includes trading costs and demo account factors.

The broker includes innovative trading tools like the streaming news from an economic calendar that regulates forex brokers to help experienced traders to start trading with complex instruments. The advanced traders include a customizable screener for different asset classes such as CMC markets and other currency pairs.

Pros

• Wide range of trading tools and offerings
• It accepts Denmark customers
• Provides a detailed emphasis on research
• Offers protection to clients

Cons

• Lacks account protection
• Incredible share-CFD fees

Price

Let’s see how IG makes money, especially through different customer trades that ultimately cross the bid spread. The global financial markets offer foreign exchange trading with a commission charge that allows users to play when one user is trading CFDs. It also adds to another side of the market spread. You will also find another commission for share-CFD trade.

Moreover, it also includes an inactivity fee of up to $12/month when there is no trading for 24 months. You will also find wire withdrawals of $15 while providing a detailed explanation of the forex market on the website. You will also find three rebate tiers starting from 5% for almost $100 of trading volume to up to 15% for $500+ million in each trading volume.

How we rank the Best Online Forex Brokers in Denmark?

Trading in Denmark is never easy whether you understand how to use the right financial instrument. Ranking the best brokers in Denmark is a daunting task, seriously. You should understand how CFDs work and whether you can trade easily or not.

Our ranking of the best Danish forex trading brokers was based on several key factors. However, the team focused on 4 main ones. First, we looked at the trading fees associated with each broker. The firms that offered Danish forex traders the lowest fees while making sure they get a good trading experience were ranked higher.

The nature of the trading platform was also a huge consideration in this review. In fact, the team wanted to include firms that only offer tech superior trading platforms with fast trade execution and state-of-the-art trading tools. However, we also wanted to ensure that these tools were not too complicated and that an average trader could easily use them without too much hassle.

In addition, safety was also a key concern. The aim was to look at brokers that are regulated by some of the leading agencies out there including ASIC in Australia and the Financial Conduct Authority. Regulated firms are considered safer and less risky to trade with. Finally, the team also assessed the overall trading experience. This included looking at the nature of customer support and how reliable it is, analyzing deposit requirements, and looking to see the kind of trading leverage offered by the broker. All the five brokers in Denmark in the list above met these high standards.

How to choose the Best Online Forex Brokers in Denmark?

Different people have different priorities when choosing Danish forex brokers. But there are also some general factors that must always be considered before you sign up with a broker. First, regulation is everything. A forex broker in Denmark that is fully regulated by the top-tier bodies will always be safe to use for a Danish trader out there.

Secondly, check the fees. These days the forex market is filled with small ticket retail investors who take advantage of small price movements in currency pairs to return a profit. They don’t need high fees to eat into their margins. The lower the fees the better. Finally, trade execution is also very crucial and this can only be guaranteed through the best trading platforms out there.

So, before you sign up with a broker, test out the trading platform using a demo trading account, including the Metatrader 4 and others. The best forex brokers in Denmark will always have state-of-the-art platforms for you. You may also need to look at customer support, the min deposit requirements, and educational materials.

Choose Asia Forex Mentor for Your Forex Trading Success

If you have a keen interest in establishing a successful career in forex trading and aspire to achieve substantial financial gains, Asia Forex Mentor stands as the optimal choice for the best forex, stock, and crypto trading course. Ezekiel Chew, renowned as the visionary behind trading institutions and banks, is the driving force behind Asia Forex Mentor. On a personal note, Ezekiel consistently achieves seven-figure trades, a distinction that truly sets him apart from other educators in the field. Here are the compelling reasons that underpin our recommendation:

Comprehensive Curriculum: Asia Forex Mentor offers an all-encompassing educational program that covers stock, crypto, and forex trading. This well-structured curriculum equips aspiring traders with the knowledge and skills necessary to excel in these diverse markets.

Proven Track Record: The credibility of Asia Forex Mentor is firmly established through its impressive track record of producing consistently profitable traders across various market sectors. This achievement serves as a testament to the effectiveness of their training methodologies and mentorship.

Expert Mentors: At Asia Forex Mentor, students benefit from the guidance and insights of experienced mentors who have demonstrated remarkable success in stock, crypto, and forex trading. These mentors provide personalized support, enabling students to navigate the intricacies of each market with confidence.

Supportive Community: Joining Asia Forex Mentor brings access to a supportive community of like-minded traders pursuing success in the stock, crypto, and forex markets. This community fosters collaboration, idea-sharing, and peer learning, enhancing the overall learning experience.

Emphasis on Discipline and Psychology: Success in trading necessitates a strong mindset and disciplined approach. Asia Forex Mentor provides crucial psychological training to help traders manage emotions, handle stress, and make rational decisions during trading.

Constant Updates and Resources: The financial markets are dynamic, and Asia Forex Mentor ensures that students remain up-to-date with the latest trends, strategies, and market insights. Continuous access to valuable resources keeps traders ahead of the curve.

Success Stories: Asia Forex Mentor takes pride in a multitude of success stories where students have transformed their trading careers and achieved financial independence through their comprehensive forex, stock, and crypto trading education.

In summary, Asia Forex Mentor emerges as the premier choice for those seeking the best forex, stock, and crypto trading course to carve a rewarding career and achieve financial prosperity. Through its comprehensive curriculum, experienced mentors, practical approach, and supportive community, Asia Forex Mentor provides the necessary tools and guidance to mold aspiring traders into accomplished professionals across diverse financial markets.

Conclusion: Best Online Forex Brokers in Denmark

The Forex brokers in Denmark have an online presence, and they target the different smaller traders to operate within forex markets on a single or margin basis.

Many brokers also include useful educational and research tools to provide beginners an enhanced knowledge about the trading process. These brokers provide additional excess to experts and the market analysis to aid you in choosing the beneficial trading options.

Therefore, a forex trader can start easily only by opening an account and downloading free trading options such as MetaTrader. Here we have mentioned top-quality forex brokers so you can choose the one that suits you completely. Yes! You heard that right.

Avatrade gives average-to-competitive spreads, depending upon your type of account, along with adequate educational resources. The Financial Conduct Authority FCA regulates financial instruments and offers multiple CFDs with this provider. It is one of the best Forex Brokers that offer competitive rates and reliability.

Best Online Forex Brokers in Denmark FAQs

Is Forex trading legal in Denmark?

Once you look for the best Forex brokers within Denmark, it is essential to know whether these regulated brokers are legal or not. Any broker will make Forex trading legal, involving money when trading CFDs and other financial services. The brokers in Denmark are well authorized and offer a web platform for assistance.

Moreover, Forex trading is legal in Denmark. The Financial Conduct Authority FCA offers trading strategies and assistance with the trading account with a minimum initial deposit and trading costs. The best Forex brokers provide a legitimate trading market and major currencies for trading.

What are retail investor accounts?

Basically, a retail investor is a non-professional investor and an individual investor who can increase market impact. Different providers have a percentage of retail investor accounts to take the high risk of losing your money.

A retail investor will sell or buy the securities through firms and brokerages such as 401(k)s. Moreover, the investors will not use their own money but invest in other people’s money. That’s how these retail investor accounts lose money within the trading accounts.

Does forex broker lose money?

The market is undoubtedly a high risk. However, the financial services compensation scheme still reduces the risk of losing money rapidly as any regulated broker will offer assisted services. Well, traders go through an intermediary for executing trades. At the same time, some brokers might make hidden fees with gains and losses.

Do you know it’s common to lose money when trading even with the best forex trading platform? Some require a minimum deposit with the currency pair, and the financial conduct authority ensures to save from circumstances. You will not lose money when trading CFDs and get the maximum advantage.