| Updated: May 15, 2024Over the last few years, Forex trading has risen in popularity as a profitable investment option around the globe, including in Croatia. Following an in-depth analysis, the financial market specialists at BestBrokers have compiled a list of several premier Forex brokers in Croatia. We tested the platforms by depositing real money and placing real traders. We checked the available deposit options, the supported cash-out methods, and the customer service quality, among other important aspects.
Fusion Markets74-89% of retail CFD accounts lose money
Eightcap76.09% of retail investor accounts lose money
CMC Markets71% of retail investor accounts lose money
Capital.com75% of retail investor accounts lose money
Global Prime74-89% of retail CFD accounts lose money
IG70% of retail client accounts lose money
Libertex74.91% of retail investor accounts lose money
Swissquote61% of retail investor accounts lose money
Tickmill70% of retail investor accounts lose money
Iron FX67.62% of retail investor accounts lose moneyCroatian Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1409 | 4.8 ⭐ |
| 2. Eightcap | 2133 | 4.3 ⭐ |
| 3. CMC Markets | 1923 | 4.2 ⭐ |
| 4. Capital.com | 10490 | 4.2 ⭐ |
| 5. Global Prime | 100 | 4.1 ⭐ |
| 6. IG | 6723 | 4.1 ⭐ |
| 7. Libertex | 9328 | 4.0 ⭐ |
| 8. Swissquote | 2349 | 3.6 ⭐ |
| 9. Tickmill | 525 | 3.4 ⭐ |
| 10. Iron FX | 0 | N/A ⭐ |
Croatian Forex Brokers Ranked by Spread Commission
| Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
|---|---|---|---|---|
| 1. Tickmill | 0.1 | 0.1 | 0.4 | 0.3 |
| 2. Libertex | 0.1 | 0.3 | 0.3 | 0.4 |
| 3. Fusion Markets | 0.11 | 0.13 | 0.15 | 0.11 |
| 4. Global Prime | 0.13 | 0.28 | 0.28 | 0.22 |
| 5. CMC Markets | 0.5 | 0.7 | 1.1 | 0.9 |
| 6. IG | 0.6 | 0.9 | 0.9 | 0.9 |
| 7. Capital.com | 0.6 | 10 | 2 | 1.3 |
| 8. Iron FX | 0.7 | 0.4 | 0.9 | 0.8 |
| 9. Eightcap | 1 | 1.1 | 1 | 1 |
| 10. Swissquote | 1.7 | 1.6 | 1.7 | 2.0 |
Croatian Forex Brokers Ranked by Commission per Lot
| Forex Broker | Commission per lot |
|---|---|
| 1. IG | $0 |
| 2. Eightcap | $0 on Standard and TradingView Accounts; $7 round turn on Raw Accounts |
| 3. Iron FX | $0 |
| 4. Capital.com | $0 |
| 5. Libertex | $0 |
| 6. Fusion Markets | $0 Classic Account, $4.50 round turn on Zero Account |
| 7. CMC Markets | $2.50 per lot |
| 8. Tickmill | $0 on Classic Account; $3 per side on Raw Account |
| 9. Global Prime | $0 Standard Accounts; $7 round turn on Raw Accounts |
| 10. Swissquote | $9 per lot (Standard); $0 (Premium) |
Important Note: Forex trading is legal in Croatia. The Croatian Financial Services Supervisory Agency (HANFA) is the authority in charge of regulating the sector. With that in mind, we have singled out a list of the best forex brokers catering to traders from the country. The institution intervenes in the market to ensure its stability is properly maintained. Croatian traders may find further information on the official website, https://www.hanfa.hr/ or LinkedIn at https://www.linkedin.com/company/hanfa/.
This publication aims to provide a comprehensive overview of the legality of forex trading, specifically adapted to meet the needs of Croatian traders. If you are intrigued by the potential of forex trading in Croatia, stay with us to learn more.
Top 10 FX Brokers in Croatia
Fusion Markets Broker Details Regulators ASIC, FSA (Seychelles), VFSC (Vanuatu) Min Deposit $0 Trading Platforms MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade Trustpilot Rating 4.8 out of 1409 reviews Number of Forex Pairs to Trade Over 200 Leverage Forex & Metals: 30:1
Index CFDs: 5:1
Cryptocurrencies: 2:1Spread EURUSD: 0.11
USDJPY: 0.13
EURGBP: 0.15
GBPUSD: 0.11Forex Commission per Lot per Trade $0 Classic Account, $4.50 round turn on Zero Account Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple Founded by Australian trading experts, Fusion Markets was launched in 2017 and is currently one of the top destinations for traders all over the globe. While it is common for brokers to advertise low spreads, Fusion Markets was actually recognized by Brookerchooser, receiving the award “Lowest Spread Forex Broker” four years in a row.
In addition to offering traders tight spreads, Fusion Markets is committed to offering the best value for your trading, charging a significantly low commission of only $2.25 per lot ($4.50 per side). As you can see, const-effectiveness is one of the main values of this top-shelf broker.
Safety is always a priority for Fusion Markets, with major regulatory bodies like the Australian Financial Services (license No.385620), the Financial Services Authority of Seychelles (license No.SD096), and authorities in Vanuatu regulating the services provided by the broker. Under ASIC’s (Australian Securities & Investments Commission) regulation, the broker also provides a negative balance protection to some of its clients.
With no minimum on deposits and a wide range of popular trading platforms like MetaTrader4, MetaTrader5, cTrader, and more, it is no surprise that Fusion Markets is one of the top choices of traders. With an average score of 4.6 out of 5 on Trustpilot, this broker has received an Excellent rating from more than 1,300 happy customers.
Key Pros
- Offers some of the lowest spreads
- ASIC clients enjoy a negative balance protection
- Supports popular trading platforms
- Offers two copy trading platforms
- Supports fiat and crypto payment solutions
Key Cons
- Does not offer investor protection
- Traders outside Australia have no negative balance protection
- Cannot set up an account in a minor currency
Global Prime Broker Details Regulators ASIC (No. 385620), VFSC (No. 40256) Min Deposit $0 Trading Platforms MT4 Desktop, MT4 Webtrader, MT4 Android Trustpilot Rating 4.1 out of 100 reviews Number of Forex Pairs to Trade 56 Leverage Forex & Metals: 500:1
Index CFDs: 100:1
Cryptocurrencies: 10:1Spread EURUSD: 0.13
USDJPY: 0.28
EURGBP: 0.28
GBPUSD: 0.22Forex Commission per Lot per Trade $0 Standard Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto Withdrawal Methods Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
Global Prime is a reliable brokerage that has been providing low-cost trading services since 2010. Regulated by the watchdogs of Vanuatu and Australia, the broker facilitates trading with over 150 financial instruments, including indices, bonds, commodities, cryptocurrencies, and more than 50 currency pairs. Major-pair spreads on raw accounts start at zero pips, with most orders being executed within 10 milliseconds on average. The broker works with MT4 only but plans to soon expand its range of supported platforms with cTrader, MT5, and TradingView.
These excellent trading conditions, coupled with a streamlined registration process, fee-free transactions to and from customer accounts, and round-the-clock support, have earned the broker a solid 4.1 score on Trustpilot. Still, there is scope for improvement as the company offers no cent and swap-free accounts for Islamic customers. The broker has no compensation scheme for client funds, either, which is yet another area Global Prime could improve in.
Key Pros
- Overseen by a top-tier financial regulator (ASIC)
- No fees on deposits and withdrawals
- Low fees for FX trading
- Streamlined sign-up process
- A broad range of currency pairs
Key Cons
- Could use more trading platforms
- A limited range of educational resources
- Does not offer Islamic or cent accounts
Tickmill Broker Details Regulators CySEC (No. 278/15), FCA (733772), CONSOB (No.4310), BaFin (No.146511), ACPR (No.75473), CNVM (No.4082), FSA Seychelles (SD 008), FSCA (FSP 49464) Min Deposit $100 Trading Platforms MT4, MT5, WebTrader, ZuluTrade Trustpilot Rating 3.4 out of 525 reviews Number of Forex Pairs to Trade 62 Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.1
USDJPY: 0.1
EURGBP: 0.4
GBPUSD: 0.3Forex Commission per Lot per Trade $0 on Classic Account; $3 per side on Raw Account Deposit Methods Bank Transfer, Skrill, Mastercard, Visa, PayPal, Przelewy24, Neteller, Trustly Withdrawal Methods Mastercard, Visa, Skrill, Neteller, Przelewy24, PayPal, Bank Transfer ickmill is a multi-licensed broker with over 780,000 registered customers worldwide. It provides low-cost trading with over 180 financial instruments, including currency pairs, equity indices, commodities, cryptocurrencies, bonds, and stocks. Raw spreads start at zero pips for FX majors, with nominal commissions on Raw accounts. It is also worth mentioning that Tickmill is one of the few online brokers to issue no requotes. It receives heaps of praise for delivering some of the fastest execution times in the industry, filling client orders within 0.20 seconds on average.
The brokerage supports trading via the robust MT4 and MT5 platforms, with customers facing a choice from their downloadable and web-based versions. Clients interested in dipping their toes in copy trading can conveniently connect their Tickmill accounts to the ZuluTrade platform. Tickmill keeps client funds in segregated accounts and maintains insurance against insolvency with Lloyds Bank despite boasting sufficient liquidity to weather hard times. On the downside, bank-transfer deposits incur additional fees when below the $5,000 threshold.
Key Pros
- Offers swap-free accounts for Islamic customers
- No commissions on FX trades via Classic accounts
- Global presence in over 180 countries
- FX spreads from zero pips on Raw accounts
- Swift order execution with no requotes
Key Cons
- Could use more base account currencies
- Bank-transfer deposits below $5,000 incur extra fees
IG Broker Details Regulators ASIC (No. 515106), FCA (No. 114059), CFTC, DFSA (No. F001780), MAS, BMA Min Deposit $50 Trading Platforms MT4, L2 Dealer, ProRealTime, IG proprietary software Trustpilot Rating 4.1 out of 6723 reviews Number of Forex Pairs to Trade 80+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.6
USDJPY: 0.9
EURGBP: 0.9
GBPUSD: 0.9Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal Withdrawal Methods Visa, Visa Electron, Mastercard, Discover, Bank Transfer IG is a trusted online broker regulated in multiple jurisdictions, including Australia, Singapore, Dubai, the UK, and the US. It provides low-cost trading in thousands of financial markets, ranging from forex and commodities to cryptocurrencies, shares, bonds, and indices. Seasoned traders can dabble in options contracts, bonds, and spread betting. Interest rate trading is also available to IG customers.
The brokerage charges no commissions on forex trades, deriving its profits mostly from spreads. IG predominantly caters to customers looking to capitalize on price movements without purchasing underlying assets by offering them a broad range of CFDs. Forex traders have access to complex speculative instruments like turbo warrants, vanilla options, contracts for difference, and barrier options.
IG’s proprietary software does an excellent job at delivering seamless trading sessions, although clients can also connect third-party platforms like MT4 and ProRealTime to their IG accounts. Both platforms are suitable for algorithmic trading. Moving funds to and from your live account is entirely free, although the broker could expand its range of accepted payment methods. Cards, bank transfers, and PayPal are the only banking options IG works with at the moment. Bank transfers have no minimum threshold on deposits.
Key Pros
- Towering selection of over 17,000 tradable markets
- Listed on the FTSE 250 index
- Competitive pricing and low forex spreads
- No fees on deposits or withdrawals
- Demo accounts for risk-free forex trading practice
Key Cons
- Payment options are a bit limited
- Customer support is slow to respond during busy hours
Eightcap Broker Details Regulators SCB (No. SIA-F220), ASIC (No.391441), CySEC (No. 246/14), FCA (No. 921296) Min Deposit $100 Trading Platforms MT4, MT5, WebTrader, TradingView Trustpilot Rating 4.3 out of 2133 reviews Number of Forex Pairs to Trade 50+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 1
USDJPY: 1.1
EURGBP: 1
GBPUSD: 1Forex Commission per Lot per Trade $0 on Standard and TradingView Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, PayPal, Mastercard, Wire Transfer, Neteller, Skrill, Tether, Bitcoin, BPAY, Dragonpay, Fasapay, Interac, Pix Withdrawal Methods Mastercard, Visa, PayPal, Skrill, Neteller, Bitcoin, Tether, Wire Transfers, BPAY, Fasapay, Pix, Interac Eightcap was established back in 2009 in Melbourne. The brokerage has greatly grown over the years, currently reaching traders from more than 100 countries around the globe. The Australian company is licensed to conduct online trading by first-tier financial watchdogs like FCA, ASIC, and CySEC. It provides favorable trading conditions but its product range is a bit slimmer compared to competitors.
There are around 800 financial instruments to choose from, which puts the broker’s selection of tradable products slightly below the industry averages. Various asset classes are covered, including equity indices, shares, cryptocurrencies, forex, and commodities. The broker specializes in providing speculative trading via contracts for difference, with maximum leverage ratios capped at 30:1 or 200:1, depending on the country of access.
Traders at Eightcap can go long or short on approximately 50 forex pairs, with minimum spreads starting from zero pips on Raw accounts where a $7 round-turn commission is in place instead. Standard accounts allow for commission-free forex trading but have slightly higher spreads (from 1 pip) compared to their Raw counterparts. Capitalizing on currency price movements is possible via the TradingView, MT5, and MT4 platforms. Minimum deposit requirements align with the industry average ($100), with plenty of secure payment methods at customers’ disposal.
Key Pros
- Commission-free FX trading via standard accounts
- Spreads from 0 pips on major currency pairs
- Accepts cryptocurrency deposits
- Fantastic variety of deposit and withdrawal methods
- Insights section with webinars, trade ideas, and weekly forecasts
Key Cons
- Below-average range of tradable instruments
- Crypto withdrawals incur transaction fees
CMC Markets Broker Details Regulators ASIC, MAS, FCA, BaFin, IIROC Min Deposit $0 Trading Platforms CMC Markets’ Next Generation, MetaTrader 4 Trustpilot Rating 4.2 out of 1923 reviews Number of Forex Pairs to Trade 330+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.5
USDJPY: 0.7
EURGBP: 1.1
GBPUSD: 0.9Forex Commission per Lot per Trade $2.50 per lot Deposit Methods Visa, Mastercard, Maestro, Online Banking, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Bank Transfer When it comes to online trading, trusting a worldly-wise broker like CMC Markets, which pounced on the scene way back in 1989, is always the best decision. In 1996, the brand launched its operations online, claiming to be the first to complete a forex deal online. While this cannot be confirmed, the company certainly is one of the pioneers of online trading, currently ranking among the most trustworthy brokers online.
Forex traders will be pleased to see that the broker covers a wide range of currency pairs, while other types of traders will also appreciate the numerous CFDs and spread betting available on CMC Markets’ platforms. The broker offers its clients the proprietary platform Next Generation, which is rather intuitive and easy to use. Unfortunately, the Next Generation platform does not support automated trading. However, those who prefer this style of trading may install the MetaTrader 4 platform, also supported by CMC Markets.
One of the best qualities of CMC Markets is the company’s transparency as it is publicly traded and licensed by some of the most reliable authorities in this industry. Regulated by the ASIC, the broker is authorized by the AFS to offer derivative products under license no.238054 and stockbroking services under license no. 246381. The broker has also been licensed by the UK’s FCA, operating under license no. 173730 and license no. 170627 (spread betting). It comes as no surprise that CMC Markets has become a top destination for numerous traders who have given the broker an average score of 4.2 out of 5 on Trustpilot.
Key Pros
- Publicly traded reputable brand
- One of the first online forex brokers
- Covers an extensive selection of currency pairs
- Offers proprietary trading platform
- Enables smooth mobile trading
Key Cons
- Automated trading available only on MetaTrader4
- Fees on stock CFDs can be high
- Supports a limited number of payment methods
Swissquote Broker Details Regulators FCA, MFSA, FINMA, DFSA, MAS, CySEC Min Deposit $1,000 Trading Platforms CFXD, MetaTrader 4, MetaTrader5 Trustpilot Rating 3.6 out of 2349 reviews Number of Forex Pairs to Trade 80+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 1.7
USDJPY: 1.6
EURGBP: 1.7
GBPUSD: 2.0Forex Commission per Lot per Trade $9 per lot (Standard); $0 (Premium) Deposit Methods Visa, Mastercard, Bank Transfer, Online Banking Withdrawal Methods Visa, Mastercard, Bank Transfer, Online Banking Swissquote is one of the most secure brokers you can trade with online. Starting as a financial company specializing in the development of financial software and web applications in 1990, by 1996, it introduced its first financial platform offering traders prices on all securities trading on the Swiss stock market. Today, Swissquote is publicly traded, runs two entirely online-operating banks, and is one of the most trustworthy brokers for Swiss traders as well as trading enthusiasts from multiple foreign markets.
To offer seamless CFD and Forex trading to its customers, Swissquote has introduced its CFXD platform, boasting a simple interface that provides multiple features for an extra intuitive trading experience. In addition to CFXD, the broker also supports MetaTrader 4 and 5, while the Autochartist tool can offer traders access to a large library of charts and trading analysis.
Offering only the best value for your trading is one of Swissquote’s strongest features. It offers competitive spreads as well as low margin rates. Traders’ accounts will enjoy cash deposit protection for transactions up to $/€100, 000 as well as negative balance protection. With major regulators like the FINMA, FCA, DFSA, and more regulating the services offered to Swissquotes customers, it comes as no surprise that many have trusted the broker with their investments.
Key Pros
- Publicly traded reputable brand
- Broker with extensive experience in trading
- Offers competitively low spreads
- Supports various trading platforms
- Forex traders can choose from over 80 currency pairs
Key Cons
- Traders must pay an inactivity fee
- Desktop trading platform looks a bit outdated
- Trading fees tend to be higher
Iron FX Broker Details Regulators FCA (licensing no. 585561), FSCA (licensing no. 45276) Min Deposit $100 Trading Platforms MetaTrader 4, WebTrader, VPS, PMAM, TradeCopier, Mobile App Trustpilot Rating N/A out of N/A reviews Number of Forex Pairs to Trade 80+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.7
USDJPY: 0.4
EURGBP: 0.9
GBPUSD: 0.8Forex Commission per Lot per Trade $0 Deposit Methods Visa, MAstercard, Bank Wire, Skrill, Neteller, China Union Pay, Fasapay, Perfect Money, Bitwallet, Paysafecard Withdrawal Methods Bank Wire Founded in 2010, Iron FX is a broker with extensive experience in the trading field, offering traders a vast selection of products. Providing CFDs on forex pairs, commodities, indices, shares, and futures, this online brokerage is a great place for a vast variety of traders. With seven different types of accounts, members of Iron FX can pick the option that suits their preferences the best, with each of the account types offering either low or low fees that offer the best value for your trading.
Unfortunately, while Iron FX was regulated by the Cyprus Securities and Exchange Commission (CySEC), its Bermuda entity currently holds no license authorizing its operations. Meanwhile, its UK and South African entities are regulated by the Financial Conduct Authority (FCA) and the Financial Sector Conduct Authority (FSCA), respectively. We would also like to highlight the company’s dedication to traders’ safety, with Iron FX utilizing enterprise-class security tools to keep you and your money safe.
Members of the broker will have access to trading platforms like MetaTrader 4, WebTrader, VPS, PMAM, and TradeCopier as well as the mobile app of Iron FX that enables seamless trading on the go. To fund your account, you are required to deposit $100, which is the minimum required for the standard account type.
Key Pros
- Offers a wide selection of trading instruments
- Supports several popular trading platforms
- Enables easy trading on the go via dedicated app
- Supports various deposit methods
- Traders can choose from 7 different account types
Key Cons
- Bahamas entity operates with no license
- Trustpilot score not available due to many fake review detected
- Withdrawals are possible only via bank wire
Capital.com Broker Details Regulators ASIC, FCA, CySEC, SCB, MiFID Min Deposit $20 Trading Platforms MetaTrader 4, TradingView Trustpilot Rating 4.2 out of 10490 reviews Number of Forex Pairs to Trade 125+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.6
USDJPY: 10
EURGBP: 2
GBPUSD: 1.3Forex Commission per Lot per Trade $0 Deposit Methods Bank transfers, VISA, MasterCard, Maestro, Apple Pay, PayPal, Neteller, Skrill, Sofort, Przelewy, TrueLayer, iDEAL, Trustly, SPEI Withdrawal Methods Bank transfers, bank cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly Capital.com is a broker that has been providing its services since 2016. It has licenses from several Tier-1 regulators, including the ASIC, CySEC, and FCA, ensuring a secure trading environment. More than 580K registered traders enjoy an excellent user experience, from hassle-free account opening to streamlined trading.
Capital.com offers market-leading spreads on more than 125 currency pairs. The brand’s product offering goes far beyond forex trading, with 3,000 indices, commodities, shares, major cryptocurrencies, and altcoins tradable both on desktop and mobile.
The minimum deposit requirements at Capital.com start from $20, with diverse payment methods, including bank transfers, bank cards, and various e-wallet brands. Withdrawals do not entail processing fees and demo accounts are available to practice in a simulated trading environment with virtual funds. The brand is praised for its rich assortment of educational materials, the latest market news, and advanced analytical tools.
Key Pros
- Trusted by 580K+ traders across the globe
- Trading guides for beginner, intermediate, and advanced traders
- Mobile apps for Android and iOS devices
- Low FX fees built into the spread
- Negative balance protection
Key Cons
- There is an inactivity fee after 1 year
- No two-step login
- No price alerts on the web platform
Libertex Broker Details Regulators CySEC (CIF Licence number 164/12), BaFin (BaFin ID: 10161686 / Bak No.: 161686) Min Deposit $10 Trading Platforms Libretex Trading Platform, MT4, MT5 Trustpilot Rating 4.0 out of 9328 reviews Number of Forex Pairs to Trade 50+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.1
USDJPY: 0.3
EURGBP: 0.3
GBPUSD: 0.4Forex Commission per Lot per Trade $0 Deposit Methods PayPal, Visa, Mastercard, Sofort, iDeal, Trustly, Skrill, Giropay, Sepa International Bank Wire, Multibanco, P24, BLIK, eService, Neteller Withdrawal Methods SEPA International Bank Wire, PayPal, Visa Mastercard, Skrill, Neteller Libertex’s roots date back to 1997, making it a broker with nearly three decades of experience in the field of trading. Forex, cryptocurrencies, ETFs, and bonds are a few examples of what markets are available, and cost-effectiveness is one of the broker’s key characteristics thanks to tight spreads and a lack of commissions when it comes to some assets.
Traders are presented with several options in terms of platforms, the first one being Libertex’s own. If you wish to trade on the go, the said platform can be downloaded from the App Store or Google Play. Both MT4 and MT5 are available as well.
Libertex’s efforts to provide traders with an excellent experience have paid off, resulting in the broker earning a 4.0 score on Trust Pilot and a range of accolades, including the one dubbed “Best Trading Experience” granted by the Ultimate Fintech Awards.
In the event that something goes wrong or you need to find a piece of information about Libertex, the broker’s Help Desk Portal can be of great help. You may also reach out to the customer support team via live chat when necessary.
Key Pros
- Great variety in terms of markets
- Users have a range of deposit and cashout solutions to pick from
- Available in English, Spanish, French, Portuguese, and other languages
- Negative balance protection
- Traders can contact the customer support staff via live chat
Key Cons
- No longer available for UK traders
- Does not accept traders from the US
- Somewhat lacking in terms of educational resources
Is Forex Trading Legal in Croatia?
As a member of the European Union (EU), Croatia aligns its regulations concerning financial markets with EU directives and guidelines. This means that many of the country’s regulations associated with Forex trading are coordinated with those of other EU countries.
Forex trading is legal in Croatia, with the Croatian Financial Services Supervisory Agency being the controlling body of the industry in the country. As a legal activity, profits from forex trading are subject to taxes.
Croatian traders can engage in Forex trading as long as they use licensed brokers and adhere to relevant regulations. Make sure to choose a properly regulated Forex broker in Croatia from our list of businesses complying with top-tier international regulatory institutions. Reviewing the platforms carefully will help you choose the one that fits your trading needs the best.
The Forex trading platforms presented to the attention of Croatian traders have been carefully selected to meet various criteria such as currency pairs and liquidity, account deposit minimums, account types, mobile compatibility, available trading platforms, spreads and commissions, customer support, and educational resources.
Selecting a regulated Forex trading broker in Croatia can sometimes take months of research and analysis, so to save precious time, we recommend traders pick one of the brokers from our list and trade in a safe and transparent online environment.
Besides trading with a properly regulated broker, traders should be aware of the inherent risks and apply a sound risk management strategy. They should also stay tuned to the latest regulations applicable to the financial industry and the requirements for Forex trading in Croatia.
The Croatian Financial Services Supervisory Agency Regulation Info
The Croatian Financial Services Supervisory Agency (HANFA), is responsible for regulating the financial industry in Croatia, including Forex trading. The agency ensures that licensed trading brokers maintain the integrity of the market and adhere to relevant laws and regulations. The regulatory body conducts regular audits and takes necessary action in case of violations.
Founded in 2005, the agency integrated three existing monitoring institutions: the Securities Commission, the Agency for Supervision of Pension Funds and Insurance, and the Insurance Companies Supervisory Authority.
Besides the capital market, HANFA is charged with monitoring multiple other activities such as the insurance market, investment firms, investment funds, the pensions system, the leasing market, and virtual currencies, among others.
How Can I Verify HANFA Authorization?
The Croatian Financial Services Supervisory Agency has several online registers providing further information on the businesses it monitors, available at https://www.hanfa.hr/registers/?Investment%20firms. These are organized into five main sections for investment firms, investment funds, pension systems, insurance market, leasing, and factoring.
Under the section designated for Consumers, HANFA lists warnings of various nature, including such sent from ESMA, the European Securities and Markets Authority.
Furthermore, regulated brokers provide their licensing information either on their homepage or have a section dedicated to “Licensing and Regulation“.
Are My Funds Safe with Forex Brokers in Croatia?
Croatia has implemented several investor protection mechanisms to safeguard traders and ensure a transparent trading environment. In case of brokers’ bankruptcy, customers’ funds are protected via the Investor Compensation Scheme (ICS).
Furthermore, in the event of disputes between traders and brokers, the Financial Ombudsman Office takes the necessary action to resolve them. The latter is an independent body that is capable of resolving various issues, so Croatian traders can contact it in case they encounter any issues.
By picking a regulated broker, you can rest assured that your funds are safe and you have a reliable customer service team to contact in case of any issues. To preserve the integrity of the financial markets, Forex brokers must comply with AML (anti-money laundering) regulations, thwarting illegal activities such as money laundering and terrorist financing.
Traders, on the other hand, are required to verify their identity, residential address, and the source of their funds. While some may find this annoying, the practice ensures the security of both traders and the financial system.
Do Croatian Brokers Provide Negative Balance Protection?
Navigating the forex market safely is key to becoming a successful trader and being aware of the available investor protection mechanisms is of essential importance. Forex and CFD brokers offering services to customers in a country member of the European Union, such as Croatia, are required to offer negative balance protection.
This feature, as most traders probably know, ensures their account balance never goes below zero. The protection mechanism safeguards them from incurring debt greater than their initial deposit.
Negative balance protection serves as an extra layer of protection that safeguards traders from extreme volatility of financial instruments and unexpected price movements.
Do You Pay Tax on Forex Trading in Croatia?
Forex trading is a legal activity in Croatia and as such it is subject to taxes. The profits realized from forex trading must be reported as capital gains. Being aware of the tax benefits applicable to Forex traders in Croatia is crucial for one’s overall trading experience. For instance, holding one’s position for more than two years may qualify for a reduced tax rate. This can be very beneficial for long-term traders looking to extract as much value from trading as possible. Contacting a tax advisor or seeking further guidance from HANFA is recommended for traders who are not sure how to file their returns.
How Does the Available Leverage of HANFA-Regulated Brokers Compare to the Leverage at Brokers Regulated Offshore?
Leverage enables traders to control a larger market position with a smaller amount of capital by borrowing funds from trading brokers. A word of caution though: be careful with leverage, because while it can magnify your profits, it can also amplify your losses. Therefore, it is essential to use leverage wisely.
The maximum allowable leverage varies based on jurisdiction and the volatility of the underlying financial asset. Generally, the leverage for retail customers in Croatia varies between 30:1 and 2:1 for retail customers and reaches 500: 1 for professional traders.
As far as Forex trading is concerned, the maximum leverage ratio at regulated Forex brokers catering to Croatian traders is 30:1 for major currency pairs and 20:1 for minor currency pairs.
What Do You Need to be Designated as a Professional Trader in Croatia?
Forex traders willing to upgrade their trading experience with brokers operating in the Croatian financial market must meet several criteria to qualify as professional clients. The requirements typically concern their trading activity, former experience in the financial industry, and trading portfolio.
Professional account holders preserve the feature protecting their funds at segregated customer accounts. Some brokers enable traders to revert to their retail accounts if they wish to.
Before applying for a professional trading account, traders must consider several features, which, most probably, they will have to waive. These typically include exclusion from the Investor Compensation Fund, greater leverage flexibility, which exposes them to greater risk, and reduced risk warnings, among others.
What Trading Platforms Are Available to Croatian Traders?
There is a variety of trading platforms for Croatian traders, with some of the most popular being Metatrader4, Metatrader5, and cTrader.
MetaTrader4, or MT4 is the most popular trading platform in the world, with several advantages over its competitors. The MT4 platform can be utilized to trade on multiple accounts simultaneously and is free with the best forex trading brokers in Croatia. The MT4 platform can also be used on a demo account, which is especially suitable for novice traders, to perfect their strategy without risking real funds. The platform is equipped with multiple trading instruments, flexible charting tools, and educational resources. Yet another advantage of MT4 is the online community where traders can share experiences and exchange knowledge of the markets.
Although not quite as popular as MT4, MT5 is still a powerful contender in the industry and sets itself apart from its competitors thanks to its advanced features. It is equipped with a plethora of analysis tools, such as real-time data and studies. Traders can also analyze previous trends to make informed trading decisions in the future. The user interface is responsive and intuitive, with the option to customize it to suit your individual needs.
CTrader is also among the top-ranked trading platforms, which stands out from its competitors thanks to its supreme copy trading feature enabling traders to replicate the trading strategies of experienced traders from around the globe. Rich charting tools, advanced order types, and fast entry and execution are among the other features of the platform that make it a perfect choice for novice and experienced traders alike.Below you can find some useful references with links to organisations that monitor the forex market in Croatia.