Best Forex Brokers in Norway 2022


Are you looking for a reliable forex broker in Norway? We have done extensive research to find the best forex brokers in Norway. We've examined all aspects that make a forex broker reliable and trustworthy in the industry, including the importance of regulations, platforms, products offered, account types, costs, customer service and additional services offered by the best forex brokers.

How to Choose Forex Brokers in Norway?

When it comes to choosing a forex broker in Norway, there are many things you need to take into account. Each broker is different, and each one offers its own set of services and features. How do you know which broker is right for you? We will discuss the important factors you need to consider when choosing a forex broker in Norway. We will also provide some tips on how to find the best broker for your needs.

The first thing you need to consider when choosing a forex broker is regulation. Norway is a part of the European Economic Area, and as such, all forex brokers operating in the country must be registered and regulated by the Financial Supervisory Authority of Norway (Finanstilsynet) and any European regulatory authorities. The FSA is responsible for ensuring that all financial institutions in Norway comply with the country's laws and regulations. When choosing a broker, you should always make sure that they are regulated by the FSA or European regulatory authorities.

Another important factor to consider is the type of account you will be using. Most brokers offer different types of accounts. Choose the account types that fulfil your trading needs.

When it comes to choosing a broker, you also need to consider the fees charged by the broker. Different brokers charge different fees for their services. Some brokers may charge commission fees, while others may charge only spreads. Make sure to compare the fees charged by different brokers before deciding on one.

Finally, you need to consider the customer service offered by the broker. You should be able to contact the broker easily if you have any questions or concerns. The broker should also be able to provide you with timely and accurate customer service.

These are just some of the things you need to consider when choosing a forex broker in Norway. By taking into account all of these factors, you can be sure that you will find the best broker for your needs. If you want to learn more about forex trading, we recommend that you check the brokers below.

Best Forex Brokers in Norway

Best Forex Brokers in Norway

Finding a reliable broker is a time consuming and exhausting task. We have made your job easier. After doing extension research, we have found the top 5 Forex brokers that are registered under Finanstilsynet (Financial Supervisory Authority of Norway) and regulated by reputable regulatory authorities. 

1. XTB 

The company has its headquarters in Warsaw, Poland. Established back in 2005, this broker has offices in 13 countries, such as the UK, Poland, Germany, France, UAE and Chile. XTB Limited (Cyprus) provides broker services in Norway.

xtb

image credit: XTB

XTB Regulations

XTB Limited is registered under the Financial Supervisory Authority of Norway and is regulated by different reputable regulatory authorities around the world.

United Kingdom:  The Forex broker is regulated by the UK Financial Conduct Authority.

Dubai: XTB MENA Limited is licensed by  DFSA (Dubai Financial Services Authority)

EU: XTB Limited is authorised and regulated by the Cyprus Securities and Exchange Commission.

Non EU/UK: XTB International Limited is authorised and regulated by the International Financial Services Commission in Belize. 

South Africa: XTB Africa (Pty) Ltd is regulated by the Financial Sector Conduct Authority (FSCA).

Other than that, XTB as a group is also regulated by the authorities including the KNF, and CMB

XTB Trading Platforms

Trading Platform: xStation (Web Based, Desktop, Android, iOS, Tablet).

There are a myriad of tools for analysis of technical data available on the platform. You can find 27 drawing tools as well as 37 technical indicators.

XTB Products

They offer 1849 CFDs on stocks, 138 ETFs, 23 commodities, 36 indices, 5 cryptocurrencies, and 57 forex pairs.

Cost of XTB

The average spreads on the EUR/USD stood at 0.91 pip and minimum deposit is €250. There are no fees for depositing through bank transfer, credit card and debit cards.

For the Danish traders, they charge a 2% fee for Skrill and 1% for Neteller deposit.

XTB Limited doesn't charge any fees for withdrawal if the amount is above €60. Demo account is for a limited time. So if you want you can try multiple demo accounts to test their platform. For forex trading, they have no commission.

XTB Customer Support

Support for customers is available 24 hours a day and If you have any queries, you can reach them through the chat. The platform is brimming with tools for fundamental and technical analysis as well as educational resources.

Read Full Review of XTB

Pros and Cons of XTB

Pros

- XTB xStation platform suite offers excellent functionality, along with a broad selection of features and tools for trading.

- XTB offers low spreads

- XTB provides a wide selection of comprehensive educational videos as well as written content. It also offers more than 200 lessons through their Trading Academy.

- XTB U.K. recently launched Zero-dollar-commissions for CFDs in shares.

Cons

- MetaTrader 4 is not being promoted by the XTB's U.K, Poland, and Cyprus branches, though it is still available to request through the various locations around the world XTB offices.

- The custom investment basket tool was temporarily removed from the xStation 5 platform.

If you want to give it a try with XTB in Norway, use the link  below:

If you are interested in this broker, you can create an account using the link that is in the below.

2. eToro

eToro is a social trading platform that has been customized for European traders including Norway. The company has 10 million users, and it's easy-to get started thanks to their custom built interface.

eToro's powerful trading tools help you find the best traders to copy and trade successfully.

etoro logo

image credit: eToro

eToro Regulations

eToro Europe is registered under the Financial Supervisory Authority of Norway and is regulated by various regulatory authorities around the world.

Europe: eToro Europe is regulated by the Cyprus Securities & Exchange Commission (CySEC) with license number 109/10.

United Kingdom: eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA), company reference number 583263.

Australia: eToro AUS Capital Pty Ltd is licensed by the Australian Securities and Investments Commission (ASIC) to provide financial services under the Australian Financial Services License, license number 491139.

USA: eToro USA is operated by eToro USA LLC, registered with FinCEN.

eToro Products

They have  49 Currency pairs, 32 Commodities, 13 Indices, 2711 Stocks, 264 EFTs, and 51 Crypto Currencies. They have Tradable Symbols (Total) : 3056.

eToro Trading Platforms

They do not have MT4 or MT5 however they do have a proprietary Platform as well as Web platform, and mobile app.

Cost of eToro

The minimum deposit of eToro can range from €10 and €200.

eToro does not charge fees for deposits, however withdrawal fees are €5. For withdrawals made in currencies other than USD, you are subject to conversion charges. With the exception of bank wires, eToro deposits are instant. Also, the time for withdrawals is dependent on the method of payment used. eToro spreads start as low as 1 pip. In Europe they offer leverage of 1:30 for forex pairs.

eToro Customer Support

They offer excellent customer support via phone, email or call-back services, as well as live chat on the web. For having a live chat, you need to login to their website.

Read Full Review of eToro

eToro Pros and Cons

Pros

√ Trading in ETFs and stocks is free.

√ Opening a new account in a seamless way

√ One of the best social trading platform

√ Minimum amount to open an account and start investing.

Pros

- Customer service is required to be improved.

- Account base currency is only one 

- Expensive non-trading charges

If you want to give it a try with eToro, you can use the link  below:

If you are interested in this broker, you can create an account using the link that is in the below.

3. Plus500

In the list of best forex brokers Norway, Plus500 is our 3rd broker. Plus500 is another large forex broker that is based in London. The company is listed on the London Stock Exchange and is regulated by the FCA. Plus500 offers a wide range of currency pairs, CFDs, and other financial instruments for clients to trade.

Plus500

image credit: Plus500

Plus500 Regulations

Plus500 is regulated by different reputable regulatory authorities around the world. In Norway, Plus500CY Ltd is registered under the Financial Supervisory Authority of Norway. Check out the regulation of Plus500.

United Kingdom: Plus500UK Ltd is authorized & regulated by the FCA (#509909).

Cyprus: Plus500CY Ltd is authorized & regulated by CySEC (#250/14).

Singapore: Plus500SG Pte Ltd, is licensed and regulated by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).

Australia: Plus500AU Pty Ltd (ACN 153301681) is licensed by ASIC, AFSL #417727. 

New Zealand: Plus500 is also regulated by FMA (FSP 486026), 

South Africa: Plus500 is authorised by FSCA, FSP #47546. 

Seychelles: Plus500SEY Ltd is authorized & regulated by the Seychelles Financial Services Authority (#SD039).

Plus500 Trading Platforms

Plus500 uses a proprietary trading platform (web browser platform). It's accessible from any browser. You can also download the desktop version on your PC/laptop. They don't have MT4 or MT5. They also have Android and iOS apps.  

Plus500 Products

They offer 60+ Currency pairs, 17+ Cryptocurrencies, most popular Indices, Commodities  (Gold, Oil and Silver), Popular shares, Options, and ETFs. Spreads of Plus500 vary depending on the instruments you are trading.

Leverage varies from 1:2 for Cryptos to 1:30 for Forex.

Cost of Plus500

They don't have any trading fees. They make money by spreads and swap. But they have an inactivity fee of $10 per month if your account is inactive for 3 months. 

Minimum deposit is $100. Depending on withdrawal methods, they have different withdrawal limits. You will find it on the withdrawal screen of Plus500 platform.

Customer Support

Plus500 trading app offers support in 32 languages, including English, German, Greek, Italian, Spanish, French, Finnish, Danish, Swedish, Estonian, Russian, Romanian, Hebrew, Arabic, and Traditional and Simplified Chinese. 

The platform offers 24/7 support via email and chat. You will find an answer to most questions via the FAQ section. However, if the clients cannot find the query in the FAQ then they can start an online chat.

Read Full Review of Plus500

Pros and Cons of Plus500

Pros

√ Access to over 2000 CFDs

√ A user-friendly and practical platform

√ Regulated by many regulatory authorities

√ Guaranteed stop loss orders

√ Protection against negative balance

Cons

- Customer support is not available via phone call

- It does not take U.S. clients

- The trading platform can't be used with other tools for trading or platforms

If you'd like to try Plus500, You can do so by clicking the following link:

If you are interested in this broker, you can create an account using the link that is in the below.

4. FP Markets

FP Markets is a group of companies, which include First Prudential Markets Pty Ltd and FP Markets LLC. It is an international Forex and CFD broker based in Australia. FP Markets (Cyprus) provides trading services in Norway.

FP Markets Logo

image credit: FP Markets

FP Markets Regulations

First Prudential Markets (Cyprus) is registered under the Financial Supervisory Authority of Norway. The broker is multi licensed and is regulated by reputable regulatory bodies, including:

Australia: FP Markets is regulated by ASIC In Australia- Australian Securities and Investments Commission

Cyprus: FP Markets is also authorised and controlled through the Cyprus Securities and Exchange Commission (CySEC License number 371/18)

Global Operation: FP Markets LLC is also a registered business of St. Vincent and the Grenadines Limited Liability Number 126 LLC 2019.

Trading Platforms at FP Markets

The range of platforms for trading is vast and includes the MT4, MT5 or web Trader. They also offer apps to Android as well as iOS.

FP Markets Products

This Forex broker provides more than 10,000 trading instruments, which is truly plenty.

A majority of brokers do not offer such a number of assets. Before we look at the different types of pairs that trade, we'll look at the platforms used by FP Markets for trading.

The Account Types available on FP Markets are Standard account Raw Account, Demo Account.

To return to the pairs of trading available, FP Markets offers 60+ pairs. This includes minor, major, as well as exotic currencies.

With FP Markets, you gain access to more than 10,000 CFD shares from all over the globe.

Shares are traded through CFDs. This means you do not actually hold the shares however, you can trade them through CFDs that are contracts for difference.

Apart from the Forex, they offer Bonds, Gold, Silver, Commodities, Indices and CFDs in Crypto on FP Markets. FP Markets offers 1:500 leverage for Forex trading.

The costs of FP Markets

FP Markets doesn't have any deposit fees. It's absolutely free, and the minimum deposit for FP Markets is $100. Most methods of deposit are immediate, except for bank transfers, which can take up 3 to 5 days.

For withdrawals, it's also free. However, for wire transfers the bank might charge charges.

The Commission for Standard Account is zero. The Raw Account Commission amounts to 3 dollars per side, per standard lot. FP Markets spreads on Standard accounts start at 1.0 pip. For the Raw Account, Spreads begin at zero pip.

FP Markets Customer Support

Customer support at FP Markets is available 24 hours a day. You can reach FP Markets customer support through several methods, such as live chat, telephone Telegram, live chat, or email. The most efficient method is to reach them through the live chat feature or by phone.

Read Full Review of FP Markets

FP Markets Pros and Cons

Pros

- They have ECN execution

- The broker provides more than 10,000 trading instruments that you can select from.

- Low spreads on currency pairs that are forex.

- Processes for withdrawal and deposit are swiftly completed

Cons

- At FP Markets, Stock CFD charges are very high.

- Desktop and Web platforms is quite old

If you're interested in giving it a go using FP Markets, you can click this link:

If you are interested in this broker, you can create an account using the link that is in the below.

5. Tickmill

Tickmill is a global provider of financial services with a prime focus on CFDs on Forex, Stock Indices, Commodities and Bonds as well as Futures and Options. Established in 2014 and holding licenses from reputed regulators in the forex industry, Tickmill provides first-class products and services in Norway.

Tickmill logo

image credit: Tickmill

Tickmill Regulations

Tickmill Europe is also registered under the Financial Supervisory Authority of Norway. The broker is a multi licensed and regulated forex broker. The broker is regulated by the following regulatory authorities.

United Kingdom: Tickmill UK is regulated by by the Financial Conduct Authority (FCA) 

Europe: Tickmill Europe Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Seychelles: Tickmill Ltd is regulated by the Seychelles Financial Services Authority (FSA).

Aisa: Tickmill Asia Ltd is licensed and regulated by the Labuan Financial Services Authority.

South Africa: Tickmill South Africa Pty is regulated by the Financial Sector Conduct Authority of South Africa (FSCA).

Tickmill Trading Platforms

Tickmill trading platforms are designed for a variety of different types of traders. The Tickmill Web Trader platform is a simple and user-friendly platform that is perfect for beginners. Tickmill MetaTrader 4 and MetaTrader 5 are  more advanced platforms that are ideal for experienced traders. 

Tickmill also offers mobile trading platforms for iPhone, iPad, and Android devices. 

Tickmill Products

Tickmill clients can trade a wide range of instruments, including forex, CFDs, stocks, futures, and metals. Tickmill provides its clients with tight spreads, fast execution, and negative balance protection. 

Tickmill offers 60+ currency pairs, it also offers 27+ Stock indices and oil. Tickmill also offers 8 Crypto pairs, 4 bonds and 3 metals to Mexican traders. On MT5, Tickmill offers stock CFDs.

Tickmill has Classic, Pro, VIP, Islamic and Demo Accounts.

Cost of Tickmill

Minimum deposit of classic and Pro is €100 but for VIP account, minimum balance should be €50,000. 

For classic account, there is no commission and spreads start from 1.6 pips. For Pro account, commission is €2 per side per standard lot and for VIP account, commission is €1 per side per standard lot. For both Pro and VIP accounts spreads start from zero pips. All types of accounts have Islamic account option. Leverage for Forex trading is 1:500. 

Deposit and withdrawal are free. Minimum deposit amount is €100 and minimum withdrawal amount is €25. 

Tickmill Customer Support

Tickmill's customer support is available via email, live chat, and phone. We found the phone support to be fast and the answers relevant. 

Tickmill's live chat service is moderately fast, however staff members are willing to assist. For instance they'll take pictures for you to help clarify things. Only thing we did not have was the availability of 24/7. Overall, we were satisfied with Tickmill's customer support.

Read Full Review of Tickmill

Pros and Cons of Tickmill

Pros

✓ Customer support is responsive, multilingual and 24/5.

✓ Payment options are good

✓ Secured deposit and fast withdrawal.

✓ Welcome account bonus

✓ Low spread & High leverage. 

Cons

- Only a small selection of market options are available to trade.

- The pricing of Tickmill's Classic account isn't the same as other competitors.

Want to trade with Tickmill? Open a live account with the broker:

If you are interested in this broker, you can create an account using the link that is in the below.

Conclusion 

After conducting our research, we have found that the top five forex brokers in Norway are XTB Limited, eToro, Plus500, FP Markets and Tickmill. While all of these brokers are registered under Finanstilsynet (Financial Supervisory Authority of Norway) and regulated by reputable regulatory authorities, each broker offers different services and features. So which forex broker is right for you? That depends on your needs as a trader. We suggest trying out a few to see which one you like best.