Choose your quick section of our best CNB Regulated Forex Brokers in Czech Republic below.
Our 10 Best Handpicked CNB Regulated Forex Brokers in Czech Republic Revealed:
The CNB is a new addition to the European Central Bank systems, and the entity was preceded by the State Bank of Czechoslovakia. The CNB also the authority to issue bank notes and coins, set monetary policies on behalf of the Czech Government, regulate the banking sector and monitor payment systems. Here is an overview of the Top CNB and Globally Regulated Forex Brokers and Trading Platforms available to local investors.
Saxo Bank
Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO.
Pros and Cons
| Pros | Cons |
| Segregates client funds | Doesn’t allow hedging |
| Established in 2012 | Limited range of instruments |
| Regulated by Financial Conduct Authority | Not ASIC Regulated |
| Min. deposit from $6,500 |
The Saxo Group is regulated in 15 jurisdictions including authorisation from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA) and many more.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Demo account | Credit cards |
| Offers STP | Mini account | Bank Transfer |
| Low min deposit | Standard account | Payoneer |
| ECN account |
Customer support is available in nearly 30 different languages via phone, email and an FAQ section.
FXCM
Forex Capital Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorised and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinjaTrader and ZuluTrade.
Pros and Cons
| Pros | Cons |
| Segregates client funds | Limited range of instruments |
| Established in 1999 | |
| Regulated by Financial Conduct Authority | |
| Min. deposit from $1 |
FXCM offers traders 4 main types of trading accounts to choose from, including Spread Betting, CFD Trading, Active Trader and Professional Clients. A Free Demo account is also made available.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | Payoneer |
| Low min deposit | Islamic account |
Customer Support is available via Live Chat, Phone, Email and SMS.
Forex Time (FXTM)
FXTM or ForexTime was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295. FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary. Three accounts are offered under the Standard category. Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.
Pros and Cons
| Pros | Cons |
| Segregates client funds | Limited range of instruments |
| Established in 2011 | Not ASIC Regulated |
| Regulated by CySEC | |
| Min. deposit from $10 |
FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Micro account | Bank Transfer |
| Offers STP | Mini account | Payoneer |
| Low min deposit | Standard account | Neteller |
| Offers Negative Balance Protection | Zero spread account | |
| ECN account | ||
| Islamic account |
Customer Service is available via phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.
Markets.com
Markets.com offers traders access to the world’s most traded CFDs using instruments such as shares, currencies, indices, bonds, ETFs and commodities. Markets.com is regulated by the Cyprus Securities and Exchange Commission (CySEC).
Pros and Cons
| Pros | Cons |
| Segregates client funds | Doesn’t offer VPS |
| Established in 2008 | Inactivity Fee |
| Regulated by CySEC, Financial Services Board | Limited range of instruments |
| Min. deposit from $100 | Not FCA Regulated |
To open a live account, traders will need to make a minimum deposit of at least $100. Markets.com offers over 2,146 different instruments to trade, including over 56 currency pairs on MT4 and MT5 forex trading platforms.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Low min deposit | Standard account | PayPal |
| Guaranteed stop loss | Islamic account | Payoneer |
| Offers Negative Balance Protection |
Customer support is available in over 25 languages, 24/5 via email, telephone and live chat.
XM Group
XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.
Pros and Cons
| Pros | Cons |
| Low stock CFD and withdrawal fees | Limited product portfolio |
| Easy and fast account opening | Average forex and stock index CFD fees |
| Great educational tools | No investor protection for non-EU clients |
XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs. Forex trading is available on over 55 pairs, including the major USD, GBP, EUR and JPY pairs. Traders must take note that XM does not offer binary options or futures.
Trading Benefits
| Trading Features | Accounts Offered | Funding Methods |
| Negative Balance Protection | Micro | Wire Transfer |
| Low Spreads | Standard | Credit/Debit |
| Low Commission | XM Zero | Neteller |
| Hedging Allowed | UnionPay | |
| Scalping Allowed | WebMoney | |
| Qiwi |
Customer Service is available via live chat, Phone and email support.
AvaTrade
AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC and FCA.
Pros and Cons
| Pros | Cons |
| Used by 200,000+ traders | Doesn’t offer VPS |
| Established in 2006 | Not FCA Regulated |
| Regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI | |
| Min. deposit from $100 |
For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform. AvaTrade also offer mobile apps for Android and iOS.
Trading benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Micro account | Bank Transfer |
| Low min deposit | Mini account | PayPal |
| Standard account | Skrill | |
| Islamic account | Payoneer | |
| Neteller |
Customer support is available by email, phone, or live chat.
Alpari
Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms. Alpari is regulated by the FSC.
Pros and Cons
| Pros | Cons |
| Transparent | Limited Research Tools |
| Suitable to all trader types | |
| No Deposit Fees |
Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker. The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.
Trading Benefits
| Trading Features | Accounts Offered | Funding Methods |
| 250 tradable assets | Micro | Wire Transfer |
| PAMM Accounts | Standard | Credit/Debit |
| ECN | E-Wallets | |
| Pro MT4 | Cryptocurrency |
Customer Service is available via live chat, email and phone service.
HotForex
HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.
Pros and Cons
| Pros | Cons |
| Segregates client funds | Limited range of instruments |
| Established in 2010 | Not FCA Regulated |
| Regulated by CySEC | |
| Min. deposit from $1 |
The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar. The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Micro account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | Neteller |
| Low min deposit | Zero spread account | |
| Offers Negative Balance Protection | Islamic account |
Customer support is available via phone and email.
FBS
FBS is a Forex and CFD broker which is authorised and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).
Pros and Cons
| Pros | Cons |
| Negative Balance Protection | Limited Tradable assets |
| Excellent Regulation | Limited Trading Platforms |
| Available in Multiple Countries | |
| Award Winning Service |
FBS offers users the option to trade on Forex, Indices, Stocks, Metals and Energies across the MetaTrader 4, MetaTrader 5 and FBS Trader trading platforms .
Trading Benefits
| Trading Features | Accounts Offered | Funding Methods |
| Copy Trading | Cent | Wire Transfer |
| Rapid Order Execution | Micro | Credit/Debit |
| Standard | Neteller | |
| Zero Spread | Bitwallet | |
| ECN | Perfect Money |
Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.
FP Markets
FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer. Over 100 instruments and over 60 currency pairs in total are on offer, on the popular MT4 forex trading platform. FP Markets also offers traders mobile apps for Android and iOS.
Pros and Cons
| Pros | Cons |
| Low Forex Fees | High Stock CFD fees |
| Easy Account Opening | Limited Product Portfolio |
| Quick Deposit and Withdrawal | Outdated Platform |
Trading benefits
| Trading Benefits | Accounts Offered | Funding Methods |
| Allows scalping | Mini | Bank Transfer |
| Allows hedging | Standard | Credit/Debit |
| Offers STP | ECN | Electronic Wallets |
| Low min deposit | STP | |
| Offers Negative Balance Protection | Managed |
All accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese. Customer Service is available via email, phone and live chat.
HYCM
HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.
Pros and Cons
| Pros | Cons |
| Segregates client funds | Doesn’t offer VPS |
| Established in 1977 | Inactivity Fee |
| Regulated by Financial Conduct Authority | Limited range of instruments |
| Min. deposit from $1 | Not ASIC Regulated |
Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice. A wide variety of instruments and currency pairs are available for trade: Over 100 instruments and over 40 currency pairs.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Micro account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Low min deposit | Standard account | PayPal |
| Islamic account | Payoneer |
HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat and Phone – 24/5.
eToro
eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK. eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.
Pros and Cons
| Pros | Cons |
| Used by 6,000,000+ traders | Doesn’t allow scalping |
| Established in 2006 | Inactivity Fee |
| Regulated by Financial Conduct Authority, CySEC, ASIC | Limited range of instruments |
| Min. deposit from $200 |
eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert. Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Offers STP | Demo account | Credit cards |
| Low min deposit | Micro account | Bank Transfer |
| Mini account | PayPal | |
| Standard account | Skrill | |
| Islamic account | Payoneer | |
| Neteller |
eToro supports a wide range of languages including English, German, Spanish, French, and Italian. 24/6 customer support is available via telephone and support ticket.
XTB
XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe. XTB is regulated by the UK Financial Conduct Authority (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016. XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from: xStation5 and MT4
Pros and Cons
| Pros | Cons |
| Lowest FX spreads | Does not accept U.S. clients |
| Regulated by FCA (U.K.) | Non-FX spread costs are high |
| Offers protection for client accounts | No guaranteed stop loss |
| Emphasis on customer service | No back-testing or automated trading capabilities |
Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Micro account | Bank Transfer |
| Offers STP | Mini account | PayPal |
| Low min deposit | Standard account | Skrill |
| Guaranteed stop loss | Islamic account | Payoneer |
| Offers Negative Balance Protection | Neteller |
XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.
Exness
Exness is authorised by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices on the MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.
Pros and Cons
| Pros | Cons |
| 107 currency pairs. | Licensing in the Seychelles –low level of protection |
| Low commissions | Narrow choice of markets. |
| Zero spread accounts. | No instruments for passive investment. |
| Wide choice of trading accounts | Superficial learning and analytical content. |
| Over 60 base currencies of the account |
Exness offers traders 5 different trading accounts to choose from and over 105 different instruments to trade, including over 103 currency pairs.
Trading Benefits
| Trading Features | Accounts Offered | Funding Methods |
| Low Trading Fees | Cent | Visa |
| Allows Hedging | Classic | MasterCard |
| Allows Scalping | Mini | E-wallets |
| Mobile Trading | ECN | Perfect Money |
| One Click Execution | FasaPay | |
| Web Based Trading | Wire Transfer |
Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.
Top Local and International Forex Brokers in the Czech Republic
CNB regulated brokers will be required to fulfil a set of criteria and run their business in accordance to the best EU practices regarding financial markets. CNB Brokers must agree to be fair market participants and misleading advertisements are forbidden. Any broker practice which is found to run a unfair practice will be liable to penalties, and unfair practice will include inaccurate information.
Conclusion
The Forex Trading Market in the Czech Republic is one of the most highly regulated in the world. Local Investors can take their pick from both local and international brokers and will therefore be able to find a firm which best suits their individual trading needs.
The Czech Republic, also known by its short-form name, Czechia is a landlocked country situated in Central Europe which boasts a developed, high-income export-oriented social market economy. This is done to ensure the safe and stable functioning of the country’s economy. The CNB is responsible for all other financial institutions and companies which are active in the country including insurance, pension funds, e-payment gateways, credit unions, securities firms, fund managers, investment companies, and the foreign exchange market. The Czech Republic will only allow CNB regulated forex brokers and brokers which fall under the EU MiFID derivative to offer Forex their services to Czech investors.
FAQs
What is the CNB?
CNB stands for the Czech National Bank (CNB), which oversees all Forex Trading activity in the Czech Republic.
What does the CNB do?
Key responsibilities of the CNB include consumer safety and complaints, conducting inspections of supervised financial institutions and much more.
Are CNB regulated brokers safe?
All brokers regulated by CNB are regarded as 100% safe as the country’s national bank is responsible for overseeing their activities.
Featured SA Shares Writer and Forex Analyst.
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