5 Best Online Forex Brokers in Hungary – In Depth Review 2022
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 Hungary. Moreover, it is safe, trusted, and has a long-term history in the world of Forex.
The services that international brokerages offer are different from one broker to another, and people find many dissimilarities regarding difficulties in available products, fees, and account opening.
A few brokers only offer CFD and forex products, while the others are just boasting broader portfolios that include futures and stocks. In the following reviews, we will check the selected brokers’ aspects accessible to the clients from Hungary.
Table of Contents
Best Online Forex Brokers in Hungary
5 Best Online Forex Brokers in Hungary
#1. Best Advanced for Non-US Traders: Avatrade
AvaTrade has more than ten years of expertise in the market and has won various honors for its platforms. Under the Markets in Financial Instruments Directive, their brokerage services are available throughout the European Economic Area. The British Virgin Islands Financial Services Commission regulates AVA Trade Ltd worldwide.
At the same time, its European subsidiary, AVA Trade EU Ltd, is incorporated in Hungary and controlled by the Central Bank of Hungary. Hungary is one of the countries where they offer AvaTrade’s services. While there are no AvaTrade offices in Hungary, clients from Hungary may use a specialized Hungarian language website and a direct customer hotline.
Along with the technical features in it, the traders can develop custom mathematical indicators and tools for performing an analytical operation which is upon the conditions set previously of the trader. 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.
How does it work?
AVA Trade’s trading platforms are available on desktop, mobile, and tablet devices. AvaTrade provides a free 21-day demo account for clients to practice trading and familiarise themselves with the various platforms.
AvaTrade accepts wire transfers (with a minimum deposit of €500) and debits or credit cards (with a minimum deposit of €100) from all around the world. It should mention that clients in Europe do not have access to e-wallets. Euros are frequently recognized and utilized in Hungary, and they may use it as the account’s foundation currency.
Learners may access free instructional resources on AvaTrade’s website, including free webinars, eBooks, instructive videos, articles, and in-depth market research. SharpTrader, a dedicated learning platform, can also be utilized.
Using AVA Trade’s systems, customers may access over 250 financial products across many marketplaces. Bonds, equities, commodities like oil, indices, and cryptocurrencies are all traded as contracts for difference (CFDs) (CFDs). Customers may also trade forex using the AvaTrade platforms, including MetaTrader 4.
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
In non-trading fees, there is no fees withdrawal or minimum deposit and no account fees. All the brokerage accounts of AvaTrade are subject to inactivity fees, which is 50 dollars.
Suppose you do not use it for three months, Followed by 100 dollars of administration fees if you stay inactive for a year. This amount is deducted from the trading account.
Typical spreads are suggestive amounts because they are largely powered by macroeconomic events and market conditions that impact markets’ financial futures association. In terms of margin trading, the requirements for margin are the subjects to be changed based on the new release, market volatile and trade size.
#2. Best Intermediate for Non-US Traders: FXCC
FXCC offers forex traders to trade on Forex and silver and gold, indices on trusted MetaTrader 4., available as web or download solution. We will log in to Traders Hub to explore minimum regulations, demo, deposits, and leverage accounts in this online broker review. This is your chance to learn further about FXCC.
FXCC follows the STP/ECN model; it offers a competitive price and execution without re-quotes or intervention. The clients choose three accounts from and then trade on precious metals, indices, and Forex on the well-known MT4 terminal. It is possible when trading CFDs with this provider making it a great trading platform.
FXCC provides MT4 to every client accessible on various gadgets and major web browsers. The platform has many advanced features for trading. This includes a built-in library with more than 50 indicators for indicating technical analysis. There is also access to plus embedded charts, stop and pending orders, the market for accurate analysis.
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 is a commission-free broker whose fees are based on the spread system. The great thing about the firm is that spreads are very tight. For example, the EUR/USD pair has spreads that range from 0.0 pips to 0.4 pips. This is one of the lowest in the industry.
There are also swap rates on leveraged overnight trades as well as mark-up and currency conversion fees. The broker also charges inactivity fees so be aware of that. Either way, when you compare fees here with other brokers, they are very competitive indeed.
