| Updated: December 2, 2024The foreign exchange market has gained a lot of popularity among professional and retail traders across Europe, and traders who reside in Norway are certainly no exception. The Financial Supervisory Authority (FSA, or Finanstilsynet in Norwegian) is the entity that ensures that the said individuals can participate in the forex market safely, and it holds companies accountable for any transgressions and unfair practices committed against Norwegian traders. You can pay a visit to the FSA’s website where you will find a register of all forex brokers overseen by the regulator.
Fusion Markets74-89% of retail CFD accounts lose money
Global Prime74-89% of retail CFD accounts lose money
AvaTrade76% of retail investor accounts lose money
Markets.com74.2% of retail investor accounts lose money
City Index69% of retail investor accounts lose money
CMC Markets71% of retail investor accounts lose money
Libertex74.91% of retail investor accounts lose money
IG70% of retail client accounts lose money
XTB80% of retail investor accounts lose money
Iron FX67.62% of retail investor accounts lose moneyNorwegian Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1,862 | 4.9 ⭐ |
| 2. Global Prime | 161 | 4.5 ⭐ |
| 3. Markets.com | 1,198 | 4.4 ⭐ |
| 4. AvaTrade | 8,855 | 4.4 ⭐ |
| 5. City Index | 334 | 4.2 ⭐ |
| 6. CMC Markets | 2,090 | 4.2 ⭐ |
| 7. Libertex | 9,456 | 4.0 ⭐ |
| 8. IG | 7,200 | 3.7 ⭐ |
| 9. XTB | 1,311 | 3.7 ⭐ |
| 10. Iron FX | 0 | N/A ⭐ |
Norwegian Forex Brokers Ranked by Spread Commission
| Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
|---|---|---|---|---|
| 1. Libertex | 0.1 | 0.3 | 0.3 | 0.4 |
| 2. Fusion Markets | 0.07 | 0.13 | 0.23 | 1.01 |
| 3. Global Prime | 0.13 | 0.28 | 0.28 | 1.11 |
| 4. CMC Markets | 0.5 | 0.7 | 1.1 | 0.9 |
| 5. Markets.com | 0.6 | 0.7 | 0.9 | 0.9 |
| 6. IG | 0.85 | 0.9 | 0.9 | 1.40 |
| 7. Iron FX | 0.7 | 0.4 | 0.9 | 0.8 |
| 8. AvaTrade | 0.9 | 1.3 | 1.2 | 1.3 |
| 9. XTB | 0.9 | 14 | 1.3 | 2.2 |
| 10. City Index | 1.1 | 1.8 | 1.6 | 2 |
Norwegian Forex Brokers Ranked by Commission per Lot
| Forex Broker | Commission per lot |
|---|---|
| 1. AvaTrade | $0 |
| 2. City Index | $0 |
| 3. IG | $0 |
| 4. Markets.com | $0 |
| 5. Iron FX | $0 |
| 6. XTB | $0 |
| 7. Libertex | $0 |
| 8. Fusion Markets | $0 Classic Account, $4.50 round turn on Zero Account |
| 9. CMC Markets | $2.50 per lot (per side) |
| 10. Global Prime | $0 Standard Accounts; $7 round turn on Raw Accounts |
Important Note: Plenty of foreign brokers have decided to offer their services to Norwegian traders. While the said companies do need to notify Norway’s financial regulator, the Financial Supervisory Authority (FSA), they do not need to apply for a license if they are already regulated by an EEA entity. This, in turn, means that Norwegian traders have a vast selection of brokers to pick from.
If you are new to trading, however, making the choice might seem to be quite a difficult task. With this in mind, our team has set out to do all the heavy lifting in order to present you with a list of the most reliable forex brokers that are suitable for a Norwegian audience. This article will, therefore, be of great interest to anyone eager to find out more about these brokers and Norway’s forex legislation.
Top 10 FX Brokers in Norway
Fusion Markets Broker Details Supports Norwegian No Norwegian Currency (NOK) No Regulators ASIC, FSA (Seychelles), VFSC (Vanuatu) Min Deposit $0 Trading Platforms MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView Trustpilot Rating 4.9 out of 1,862 reviews Number of CFD Forex Pairs to Trade 90+ Leverage Forex & Metals CFDs: 1:30 (1:500 for forex and metals via VFSC)
Index CFDs: 1:5
Cryptocurrencie CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC)Spread EURUSD: 0.07
USDJPY: 0.13
EURGBP: 0.23
GBPUSD: 1.01Forex 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, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay 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
- Has no FCA license
Global Prime Broker Details Supports Norwegian No Norwegian Currency (NOK) No Regulators ASIC (No. 385620), VFSC (No. 40256) Min Deposit $0 Trading Platforms MT4 Desktop, MT4 Webtrader, MT4 Android Trustpilot Rating 4.5 out of 161 reviews Number of CFD Forex Pairs to Trade 56 Leverage Forex & Metals CFDs: 1:500 (1:30 for ASIC entity)
Index CFDs: 1:100 (1:20 for ASIC entity)
Cryptocurrencie CFDs: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC)Spread EURUSD: 0.13
USDJPY: 0.28
EURGBP: 0.28
GBPUSD: 1.11Forex 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
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
AvaTrade Broker Details Supports Norwegian No Norwegian Currency (NOK) No Regulators FFAJ (License No.1574),CySEC (No. 347/17) ISA (No. 514666577), IIROC, ADGM / FSRA (No.190018), CBI (No.C53877), BVIFSC (No. SIBA/L/13/1049), FSCA(No.45984), ASIC (No.406684), JFSA (No. 1662) Min Deposit $100 Trading Platforms MetaTrader4, MetaTrader5, WebTrader, AvaTadeGO, AvaSocial, AvaOptions, DupliTrade Trustpilot Rating 4.4 out of 8,855 reviews Number of CFD Forex Pairs to Trade 53 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2 for EU residents 1:25 for non-EU residentsSpread EURUSD: 0.9
USDJPY: 1.3
EURGBP: 1.2
GBPUSD: 1.3Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, Skrill, WebMoney, Neteller, bank wire Withdrawal Methods Visa, Mastercard, Skrill, WebMoney, Neteller, bank wire Key Pros
- Regulated by 9 jurisdictions in 6 continents
- Offers various trading platforms suitable for beginners and expert traders
- Enables smooth mobile forex trading via dedicated app
- Offers 55 forex options and numerous CFDs
- Easy copy trading via the AvaSocial platform
Key Cons
- Retail account pricing trails behind top brokers’ offerings
- Desktop platform may seem a tad outdated
- Many payment solutions are country-specific
City Index Broker Details Supports Norwegian No Norwegian Currency (NOK) No Regulators FCA (No. 446717), CySEC (No. 400/21), MAS, ASIC Min Deposit $0 Trading Platforms MT4, WebTrader, Trading App, TradingView Trustpilot Rating 4.2 out of 334 reviews Number of CFD Forex Pairs to Trade 84 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.1
USDJPY: 1.8
EURGBP: 1.6
GBPUSD: 2Forex Commission per Lot per Trade $0 Deposit Methods Visa, Visa Electron, Mastercard, Maestro, PayNow, Bank Transfer, Online Banking, PayPal, PayID, BPAY, EFT Withdrawal Methods Mastercard, Visa, Visa Electron, Maestro, PayPal, Bank Transfer Key Pros
- No commissions on spot forex and CFD trades
- Lightning-fast speed of order execution
- Long track record spanning over 40 years
- Over 1 million registered customers
- Excels in delivering quality educational content
Key Cons
- No support for MT5 for the time being
- Higher min. deposit requirements compared to rival brokers
- Stores client funds in top-tier banks like J.P. Morgan
IG Broker Details Supports Norwegian Yes Norwegian Currency (NOK) No Regulators ASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda) Min Deposit $50 Trading Platforms MT4, L2 Dealer, ProRealTime, IG proprietary software, TradingView Trustpilot Rating 3.7 out of 7,200 reviews Number of CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.85
USDJPY: 0.9
EURGBP: 0.9
GBPUSD: 1.40Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal, Apple Pay, BPAY Withdrawal Methods Visa, Visa Electron, Mastercard, Discover, Bank Transfer 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
CMC Markets Broker Details Supports Norwegian Yes Norwegian Currency (NOK) No Regulators ASIC, MAS, FCA, BaFin, IIROC Min Deposit $0 Trading Platforms CMC Markets’ Next Generation, MetaTrader 4 Trustpilot Rating 4.2 out of 2,090 reviews Number of CFD Forex Pairs to Trade 330+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.5
USDJPY: 0.7
EURGBP: 1.1
GBPUSD: 0.9Forex Commission per Lot per Trade $2.50 per lot (per side) Deposit Methods Visa, Mastercard, Maestro, Online Banking, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Bank Transfer 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
Markets.com Broker Details Supports Norwegian No Norwegian Currency (NOK) No Regulators ASIC (license no. 424008), FCA (license no. 481853), CySEC (license no. 092/08), FSCA (license no. 46860), FSC (license no. SIBA/L/14/1067), FSA (license no. 27030 BC 2023) Min Deposit $100 Trading Platforms MetaTrader 4, MetaTrader 5, WebTrader, Mobile App, TradingView Trustpilot Rating 4.4 out of 1,198 reviews Number of CFD Forex Pairs to Trade 54 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.6
USDJPY: 0.7
EURGBP: 0.9
GBPUSD: 0.9Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, PayPal, Apple Pay, Skrill, Neteller, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Apple Pay, Skrill, Neteller, Bank Transfer Key Pros
- Offers tight spreads and low fees for FX traders
- Traders can choose from over 50 currency pairs
- Supports a wide range of payment methods
- Mobile trading available through dedicated app
- Supports popular trading platforms
Key Cons
- Offers only CFD and FX products
- Charges inactivity fee
- No dedicated platform for copy trading
Iron FX Broker Details Supports Norwegian No Norwegian Currency (NOK) No 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 CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread 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 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
XTB Broker Details Supports Norwegian No Norwegian Currency (NOK) No Regulators FCA (License No. FRN 522157), CySEC (License No.169/12), FSC (FSC License No.: 000302/438), IFSC (License No.: 000302/46.), KNF (N/A), CNMV (N/A), BaFin (registered), FSCA (N/A), FSA Norway (registration ID - FT00118162) Min Deposit $250 Trading Platforms xStation 5, xStation Mobile Trustpilot Rating 3.7 out of 1,311 reviews Number of CFD Forex Pairs to Trade 70+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.9
USDJPY: 14
EURGBP: 1.3
GBPUSD: 2.2Forex Commission per Lot per Trade $0 Deposit Methods Visa, Maestro, Mastercard, Bank Transfer, Neteller, Skrill, PayPal, Ecommpay, PayU Withdrawal Methods Bank Transfers, Visa, Mastercard, Skrill Key Pros
- Bears the seal of approval of both the FCA and the KNF, along with other regulators
- Mobile-friendly platform
- Offers negative balance protection
- Standard users are not charged commission when it comes to forex
- Low fees
Key Cons
- Traders from the US cannot register and trade at XTB
- No support for MT5 and other popular platforms
- Withdrawals under certain thresholds are accompanied by fees
Libertex Broker Details Supports Norwegian No Norwegian Currency (NOK) No 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 9,456 reviews Number of CFD Forex Pairs to Trade 50+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread 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, Eps, Neteller Withdrawal Methods SEPA International Bank Wire, PayPal, Visa Mastercard, Skrill, Neteller 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 Norway?
Indeed, Norwegian traders are allowed to participate in the forex market, both as retail users of foreign exchange brokers and as professionals. Contracts for difference and indices are also legal, and the same applies to stocks. What retail Norwegian users will not be able to trade, however, are binary options. They have been forbidden since 2018, as Norway decided to follow in the footsteps of the European Securities and Markets Authority (ESMA).
Forex trading is fully regulated in Norway, and companies are expected to either apply for a license from the Financial Supervisory Authority (FSA) or be authorized by another regulator in the European Economic Area. In either case, they will need to inform the FSA regarding their Norway-facing operations. A range of ESMA’s rules, including client funds segregation, leverage being capped at 1:30 for major forex pairs and the requirement for negative balance protection to be provided to retail traders, apply to FSA-licensed brokers. Brokers must also maintain capital adequacy to acquire authorization from the Norwegian FSA or another EEA-based financial watchdog.
Financial Supervisory Authority (FSA) Regulation Info
If you reside in Norway, brokers and pretty much any companies that offer financial services answer to the Financial Supervisory Authority (FSA) of Norway, which is known as Finanstilsynet in Norwegian. This regulator has been around for approximately four decades and was established after the Bank Inspection Agency, the Norwegian Insurance Council, and the Broker Control Agencies merged into a single regulatory entity.
The FSA is responsible for the oversight of most participants in the Norwegian financial market, including brokerage firms, pension funds, stock exchanges, banks, insurance and credit companies. Currently, the FSA is headquartered in Oslo and operates as part of Norway’s Ministry of Finance under the provisions of the Financial Supervision Act. Its rules and restrictions when it comes to trading are largely in line with those of the European Securities and Markets Authority. Norwegian traders can contact the financial watchdog by sending an email to post@finanstilsynet.no or calling +47 2293 9800.
How can I verify FSA authorization?
The first thing you will need to do is check the broker’s own website. Often, licensing information is provided on the homepage, although in some cases it can be a bit more difficult to find and you might need to navigate multiple menus or go to the frequently asked questions page. If all else fails, there is always the option to ask the customer service team via email or live chat, depending on which option you prefer and what your broker offers.
Finanstilsynet also has a comprehensive registry of all investment firms that are authorized to offer forex trading to individuals from Norway, and this can serve to verify that the broker is indeed licensed. Keep in mind that FSA licensing is not mandatory for Norway-facing brokers, so ESMA licensing or authorization from another EEA country besides Norway can also be suitable for a broker. Such brokers do need to notify the FSA if they are planning on accepting Norwegian users, however.
Traders can search for Norwegian brokers only or for companies operating from outside the country through EU passporting. Either way, the broker must appear in the register if authorized to legally target Norwegians. The regulatory body maintains a separate register for transgressing companies with regulatory warnings, unauthorized clone firms, and investment fraud.
Are my funds safe with forex brokers in Norway?
The FSA has very strict rules with regard to customer money and client safety in general. Much like other countries in Europe, Norway’s regulatory oversight pretty much adheres to the rules of the European Securities and Markets Authority. This means that in Norway, brokers need to ensure that the money of the company and the funds belonging to clients are kept segregated. In addition, leverage is relatively restricted when it comes to retail trading, and negative balance protection is also a requirement of both the FSA and ESMA.
Since brokers that offer their services to Norwegian traders are not technically required to have an FSA license, we should stress that the above protections apply to regulated brokers. Ones that are not licensed by the FSA might adhere to different regulatory requirements based on where they are based, so make sure to check which jurisdiction your broker is licensed in if they are not licensed by the FSA.
Do Norwegian brokers provide negative balance protection?
Norway-facing brokers do indeed provide negative balance protection to their retail clients. As negative balance protection is what dictates that the losses of a given user cannot amount to more money than they have in their balance, this is a very sought-after feature by retail traders. It is also mandated by Norway’s regulatory body and other entities that are responsible for licensing and regulating forex brokers.
If you are looking to become a professional trader, keep in mind that the negative balance protection rule that brokers need to adhere to only concerns retail traders. Thus, it is up to each broker to decide whether their professional clients will have the same safeguard as an option. Some have opted to offer negative balance protection to their pro users, while others exclude professionals from this service, so it all depends on which forex broker you have decided to go with.
Do you pay tax on forex trading in Norway
If you decide to participate in Norway’s foreign exchange market or you decide to trade other financial instruments, your profits will be taxed, so this is something to keep in mind before you get started if you are new to trading. Earnings generated through forex trading generally count as capital income. As such, they are usually taxed at a rate of 22%. It would be best to consult with a professional tax advisor to avoid getting into trouble with the Norwegian Tax Administration (Skatteetaten).
How does the available leverage of Norwegian FSA-regulated brokers compare to the leverage of brokers regulated offshore?
If you are familiar with the leverage available in the vast majority of European jurisdictions, Norway’s leverage limits will be nothing new. Choosing to trade major pairs will mean that, as a retail trader, you will be limited to a leverage of 1:30 at most. Minor pairs, on the other hand, cannot be traded with a leverage of over 1:20 unless the person is a professional.
As for why leverage is restricted to such an extent, it mainly has to do with how much risk it involves. Trading with leverage essentially means that you are trading with money you have borrowed from your broker. In the case of leverage of 1:30, you are trading your own money times 30. This makes the potential profits far larger than they would have been otherwise, but it also makes it possible to amass substantial losses as well. Thus, only professional traders can take advantage of larger leverage if they reside in Norway.
As established, this is typical of European countries, but not all jurisdictions are as strict. In Poland, for instance, retail traders can choose to trade with a leverage of 1:100.
What do you need to qualify to be designated as a professional trader in Norway?
In general, the requirements are in line with European regulations. That is, a trader is given three criteria, and at least two of the said criteria must apply to them for the broker to accept their application for a professional account.
The first one requires that one must have made substantial transactions in the previous four quarters, specifically ten per quarter. The second criteria has to do with a user’s financial instruments portfolio, seeing as it needs to be €500,000+ in size. Finally, having worked in the financial sector for a year or longer will also serve to make it possible for you to successfully upgrade your trading account to a professional status.
If you do qualify, you will be able to enjoy impressive leverage, which is one of the biggest advantages of being a professional forex trader. You might no longer be eligible for negative balance protection, however, as brokers are not required to grant it to non-retail traders, so this might need to be factored into your plans depending on your broker.
What trading platforms are available to Norwegian traders?
You can count on having a number of platforms to pick from should you decide to trade forex in Norway. Brokers that target Norwegian traders tend to offer multiple options, the first sometimes being their own proprietary software. Industry staples like MT4 and MT5 are also a common sight in Norway-friendly brokers, with users often given the freedom to choose one or the other depending on their preferences. Apart from the aforementioned platforms, cTrader, NinjaTrader, and TradingView may also be provided.
It should also be noted that pretty much none of the Norway-facing brokers are desktop-exclusive. If you need to be able to keep track of your account on the go, a mobile application will usually be provided.
As it is natural that some issues or questions may arise as Norwegian traders engage in forex trading, we have provided several sources we believe can be of great help:
- The Financial Supervisory Authority (FSA): to be able to operate in Norway, forex brokers must apply for a license issued by the FSA, which is the official regulator of financial service providers operating in Norway.
- To confirm the validity of an FSA license, you can head to the official regulator’s website and check the registry of licensed entities.
- Forex brokers who wish to cater to Norwegian traders can also operate under licenses issued by other regulators within the EU and the EEA. Some of the most prominent regulators that indicate a safe and fair trading environment for Norwegian investors include CySEC, BaFIN, DFSA, and other bodies that fall under the most trustworthy category of tier-1 regulators.
- Norwegian forex brokers are required to follow MiFID II directives implemented by ESMA, requiring all financial service providers operating in the EU and EEA countries to offer the highest level of protection for investors.
- Visit this register occasionally to keep abreast of the latest market warnings issued by the FSA. This register also contains valuable information about clone firms and investment fraud that can spare you a lot of headaches.
- Follow Finanstilsynet’s profile on LinkedIn for the latest announcements, events, and news from the regulatory body.