The MiFID license is the most popular among broker licenses. Let's see what it is and whether traders can trust brokers with this license. Forex brokers have their own regulators, terms and conditions. In addition, it is normal for traders to check the broker and want to review their licenses, legal information, etc. Most brokers are licensed by MiFID. Let us highlight a detailed look at the license of MiFID brokers and traders. Following these useful tips, you are just a few steps from the Best MiFID Forex Brokers. So read, compare, feel free to open an account now!
An international company with a turnover of $20 billion is automatically credible. A company registered in Ireland entered the global financial market in 2006. Customers can choose from several types of platforms. Beginners begin to get acquainted with the intricacies of working on a financial exchange with a demo account. Due to these features, reviews about the AvaTrade broker are mostly positive.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:400 \ Scalping: No \ Hedging: Yes \ Deposit: $/€/£ - 100
XTB Group is a world leader in Forex and CFD trading. They started out as X-Trade in 2002, then subsequently went through a merger to become XTB in 2004. They have offices in over 13 countries all over the world, and are regulated by the largest financial regulatory authorities in the world, including FCA in the UK, as well as national regulators in a range of other European countries.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:200 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 250
ForexTime or FXTM is an international professional who provides an expanded range of online trading and investment services in the international currency market for clients from 99 countries. The main advantages are fast processing of orders under the best conditions, reliability, convenience and a wide range of services in the personal workspace.
Broker ForexTime has a solid license and a good reputation for customers, as evidenced by positive reviews. Traders will have access to a wide range of trading instruments. You can use currency pairs, precious metals, futures, contracts for difference. The total number of trading instruments is more than 100.
Demo: Yes \ Crypto: Yes \ Social: Yes \ Leverage: 1:1000 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100
«Markets» online forex and CFD broker is a very popular forex broker among traders. In addition to the trademark TradeTech Markets Limited, the company is a serious forex broker that has been in operation since early 2000. Being one of the early leaders in the retail forex space, «Markets» has evolved to become one of the well known and reputable forex brokerages with over 10 years of successfully running the forex brokerage. Broker offers a very wide range of assets, including CFDs on Indices, Currencies, Commodities, Stocks, Cryptocurrencies, ETFs, Blends and Bonds. The broker offers a combination of high quality, customer service, transparency and competitive conditions for trading in the financial market. The platform is unique and has more than 2000 instruments are available.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:300 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100
Plus500 is an industry leader providing CFDs and trading opportunities for Cracyptocurrency, Forex, Stocks, ETFs, Commodities, Indices and Options. All trading instruments on Plus500 are used. The trading platform comes from Plus500 Ltd, which takes several steps to protect customer funds and ensure uninterrupted user interaction. Plus500 portfolio currently has over 2,000 instruments. The company has several branches in Cyprus, South Africa, New Zealand and Singapore, and the main office is located in London.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:300 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 100
TickMill a British broker who appeared in the forex trading environment in 2014. Today, the broker is actively developing as a high-tech ECN broker, providing the entire range of services for online trading in the international foreign exchange market. The broker offers its customers low spreads, fast execution of orders and guarantees complete transparency of relationships with traders.
Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100
IFC Markets provides its customers with financial instruments trading services both on organized trading floors and outside of them using NetTradeX trading platform and MetaTrader 4 and MetaTrader 5 platforms. The company strives for market leadership and provides its customers with the best service and trading conditions, largely being a pioneer in its field of activity.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:400 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 1
Dukascopy offers currency and precious metals trading for retail and institutional customers. It promises equal liquidity and quotes for all customers. All types of trading are allowed, including scalping, there are various trading commissions depending on the size of the account and the monthly trading volume, and deposits are protected by the Swiss government in the amount of $100,000 per client.
Demo: Yes \ Crypto: Yes \ Social: Yes \ Leverage: 1:100 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100
Clients of the bank are thousands of private investors and traders from more than 100 countries of the world. Customer service is carried out from the headquarters of the bank in Copenhagen, as well as from 12 offices located in major cities in the world. Trading is carried out online using the SaxoTrader program, which is a bank's own development. In addition to SaxoTrader, Saxo Bank offers Saxo WebTrader and Saxo MobileTrader Internet programs that allow transactions through an Internet browser and mobile phones.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:200 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 10,000
Binary offers specialized trading platforms designed for trading CFDs and options. During its existence, the company has become a real world leader in the industry. As a fully licensed and regulated site, it has been providing worldwide services to over 300,000 customers since 2008. Unlike most brokers, it provides an opportunity for customers to trade on a unique platform. The company is focused on stability, reliability and operates in accordance with European regulation and has the right to provide its services in any European country.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:1000 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 5
In 2006, the FxPro was founded and serves more than one million customers from 170 countries from around the world. During this time, the company managed to obtain licenses from CySEC, FCA, MiFID and create a positive image and reputation. The broker serves private and institutional clients. FxPro is a broker that conducts transparent work and takes care of maintaining the capital of its customers. That is why, all deposits of FxPro clients are insured and located separately from the company's funds in leading international banks.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 500
DeltaStock was established in Bulgaria, in 1998, during which time the company’s clients were private individuals, companies and representing brokers from more than 50 countries. During its existence, the broker was able to achieve significant results, one of which is the creation of its own trading platform DeltaTrading 6. The company has a license to carry out its activities, twenty-four hours of support by phone, email and live chat.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:200 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100
Vantage FX is a leader among Australian Forex brokers and gives traders the ability to access the Forex markets, Indices, Commodities and Stocks CFDs. Vantage FX is an ASIC regulated Forex broker, providing traders access to the global Forex market through top-tier liquidity providers. With Vantage FX, orders are executed at the speed of light, without any lags, and traders get low spreads. Together, these characteristics offer an institutional grade trading experience in all financial instruments.
Demo: Yes \ Crypto: No \ Social: Yes \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 200
ActivTrades is an international brokerage company focused on investors from France, Italy, Spain, Germany and other European countries. The broker advertises himself on the positive side, talking about transparency, a complete lack of commissions, a wide selection of tools, a low spread, the provision of advisers and round-the-clock support in 13 different languages. The broker is regulated by the Financial Conduct Authority (FCA). His clients are not only private traders, but also large corporate investors.
Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:400 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100
EasyForex was established in 2003 and currently acts as a broker with global reach. It provides its services in over 160 countries worldwide, offering trading in 175 products ranging from currencies, CFDs, commodities and metals, to options on both its proprietary platform and the ever popular MetaTrader. Simple and professional business solutions. From world-class trading platforms with expanded order execution and risk management tools to real-time market data and real-time streaming, Easy-Forex ® helps partners deliver advanced trading technologies and solutions to customers worldwide and is suitable for all skill levels.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:400 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 25
The company provides traders with access to the financial markets, allowing them to trade thousands of assets. These financial assets include stocks, forex, cryptocurrencies, CFDs, commodities, and indices. IG has been known to provide top-notch services to their customers over the past few decades, allowing them to access effective trading tools, an economic calendar, market analysis, daily news, an intuitive trading platform, educational resources and other vital resources.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:300 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 1
Darwinex, founded in 2012, opened an office in London and in 2013 received a work permit through Tradeslide Trading Tech Limited, an FCA registered company, which is certified throughout the EU through MiFID. This is a Forex broker and management company founded by Juan Colon, Javier Colon and Miguel Gonzalez. Management seeks to create an excellent platform without fraud. Currently, the company serves traders and investors from more than 100 countries and is a recognized trading provider.
Demo: Yes \ Crypto: Yes \ Social: Yes \ Leverage: 1:200 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 500
Orbex broker is an organization that provides services in the field of online trading in the foreign exchange market and CFD trading. The broker has Cypriot registration and has been operating since 2011. The broker is also controlled by the regulators FCA, BaFin, MiFID, ESMA. The scope of the company is in the provision of loans, investment analysis, financial research and client asset management.
Demo: Yes \ Crypto: No \ Social: No \ Leverage: 1:500 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 500
eToro one of the world's largest social networks for traders, which has a reputation as a reliable CFD broker registered in Cyprus. Developers position the company as a network of social trading, where you can independently trade currencies, stocks, cryptocurrencies, indices, goods, copy transactions of successful traders or investors, and discuss trading and investment decisions.
Demo: Yes \ Crypto: Yes \ Social: Yes \ Leverage: 1:400 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 100
NAGA ever since its inception, in 2015, has been all about making the world of trading, investing and managing financial assets open and much easier for everyone. Regulated by CySEC, you will find a safe and reliable platform with many advanced features and tools compared to other platforms. An interesting addition to their portfolio of financial products is NAGA Group, a Fintech group trading on Frankfurt Stock Exchange. They use the NAGA Coin within the NAGA Wallet and NAGA Ecosystem.
Demo: Yes \ Crypto: Yes \ Social: Yes \ Leverage: 1:300 \ Scalping: Yes \ Hedging: Yes \ Deposit: $/€/£ - 100
HY Markets (HYCM) company provides a variety of financial services in more than 140 countries. HY Markets brokerage company headquarters are located in London, Hong Kong and Cyprus. HY Markets is regulated by the British Economic Control Authority, Cyprus Securities and Exchange Commission, Cayman Islands Financial Authority, Dubai Financial Regulatory Authority, and Supervisory and Regulatory Authority of Saint Vincent and Grenadines business companies.
Demo: Yes \ Crypto: Yes \ Social: No \ Leverage: 1:300 \ Scalping: No \ Hedging: No \ Deposit: $/€/£ - 100
About the MiFID directive
The European Parliament’s Instrument Directive MiFID (Markets in Financial Instruments Directive) entered into force on November 1, 2007 and is part of the European Union’s plan to create a single European market for financial instruments and services. The MiFID directive regulates the legal protection of investors and users of investment services, creates general rules for the provision of these services throughout the EU economic space, and also regulates the functioning of capital markets in Europe.
MiFID requirements apply to 27 countries of the European Union and 3 countries of the European Economic Area. MiFID introduces new regulatory rules aimed, in particular, at increasing the transparency of reporting on operations with shares and derivatives. The main applications of MiFID are:
- Activities of exchanges and other currently unregulated trading institutions;
- Establishment of requirements for pre- and post-trading transparency for transactions with securities;
- Expanding the range of investment services and products requiring authorization;
- Providing the opportunity to carry out international activities through the opening of branches in other EU countries to investment companies that have previously received authorization from national regulators.
Key MiFID benefits
Licensed MiFID brokers, Forex and investment advisory companies allowed provide services to the clients in any other EU member state, including big national markets such as UK, Germany and France, without any additional licensing. License passporting procedure is very simple and takes one month. Regulators from other EU member states are restricted to implement any additional regulations or barriers. For traders in the Forex market, it will be interesting to know that, unlike US regulations, MiFID provisions for companies providing services in the Forex market do not establish a maximum leverage. The main purpose of the MiFID directive is to provide greater protection for the interests of investors and impeccable performance of financial instrument markets.