Denmark Forex Brokers

Written by Christopher Lewis
Christopher Lewis
Christopher Lewis is a professional trader and author specialized in Forex and Crypto trading.
, | Updated: September 1, 2025

Denmark is home to an active community of individuals engaged in foreign exchange and derivatives trading, underpinned by robust consumer protection measures and strict regulatory oversight. The local forex market is supervised by the Danish Financial Supervisory Authority (Finanstilsynet), which ensures that all forex brokers operating in the country comply with the relevant laws and regulations.

Below you can find a list of the best forex brokers regulated in Denmark:

Top 10 Forex Brokers in Denmark

Brokers Compared by Spread

FX Brokers Deposit Method Comparison

Brand Minimum deposit
Fusion Markets Available $0
Plus500 Available $100
FP Markets Available $50 (AU$100)
Axi Available $0
FXTM Not Available $200
Pepperstone Available $0
eToro Available $50 or $100 based on country ($10 for the UK)
BlackBull Markets Not Available $0 (Standard)
$2,000 (Prime)
$20,000 (Institutional)
Interactive Brokers Not Available $0
ActivTrades Available $0

Brokers by Regulator

Brand Maximum leverage
Fusion Markets Not Available 1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (VFSC | Retail Account)
Plus500 Available 1:300 (Pro Account), 1:30 (ASIC | Retail Account), 1:30 (BaFin | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account), 1:30 (FMA | Retail Account), 1:30 (SFSA | Retail Account), 1:30 (DFSA), 1:300 (FSAS), 1:20 (MAS), 1:300 (SCB)
FP Markets Available 1:500 (CySEC | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:500 (FSAS | Retail Account)
Axi Available 1:500 (Elite Account), 1:400 (Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (DFSA | Retail Account), 1:30 (FCA | Retail Account), 1:500 (SVGFSA)
FXTM Not Available 1:30 (FCA | Retail Account), 1:400 (CMA), 1:3000 (FSCA)
Pepperstone Available 1:500 (CySEC | Pro Account), 1:500 (SCB | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (DFSA | Retail Account), 1:30 (FCA | Retail Account), 1:200 (SCB | Retail Account)
eToro Available 1:400 (CySEC | Pro Account), 1:30 (CySEC | Retail Account), 1:400 (FSAS | Retail Account)
BlackBull Markets Not Available 1:500 (FMA), 1:500 (FSAS)
Interactive Brokers Not Available 1:30 (ASIC | IBKR Lite), 1:30 (CBI | IBKR Lite), 1:30 (FCA | IBKR Lite), 1:25 (JFSA | IBKR Lite), 1:20 (MAS | IBKR Lite), 1:500 (Pro Account)
ActivTrades Not Available 1:400 (CMVM | Pro Account), 1:30 (CMVM | Retail Account), 1:1000 (FSC), 1:200 (SCB)

Forex Brokers Platform Availability

Brand FX pairs to trade
Fusion Markets Available cTrader, MetaTrader 4, MetaTrader 5, TradingView
Plus500 Not Available Proprietary Mobile, Proprietary Web
FP Markets Not Available cTrader, TradingView
Axi Available MetaTrader 4
FXTM Available MetaTrader 4, MetaTrader 5
Pepperstone Available MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web
eToro Not Available Proprietary
BlackBull Markets Available cTrader, MetaTrader 4, MetaTrader 5, TradingView
Interactive Brokers Not Available Proprietary Mobile, Proprietary Web
ActivTrades Available MetaTrader 4, MetaTrader 5, Proprietary Web, TradingView

Comprehensive Comparison of the Best Denmark Forex Brokers

Brand Min. Deposit Trading Platforms Spread Regulation Trustpilot
$0
  • cTrader
  • DupliTrade
  • Fusion+ Copy Trading
  • MetaFX
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
AVG 0.93 pips
  • FSAS (Seychelles)
  • VFSC (Vanuatu)
  • ASIC (Australia)
$100
  • Proprietary Mobile
  • Proprietary Web
AVG 1.3 pips
  • CFTC (United States)
  • CySEC (Cyprus)
  • DFSA (United Arab Emirates)
  • EFSA (Estonia)
  • FCA (United Kingdom)
  • FFAJ (Japan)
  • FMA (New Zealand)
  • FSA (Japan)
  • FSAS (Seychelles)
  • FSCA (South Africa)
  • MAS (Singapore)
  • SCB (Bahamas)
  • ASIC (Australia)
$50 (AU$100)
  • cTrader
  • IRESS
  • TradingView
AVG 1.2 pips
  • CySEC (Cyprus)
  • FSAS (Seychelles)
  • FSCA (South Africa)
  • SCB (Bahamas)
  • ASIC (Australia)
  • FSCM (Mauritius)
$0
  • MetaTrader 4
  • Axi Copy Trading
  • Axi Mobile
AVG 0.1 pips
  • CySEC (Cyprus)
  • DFSA (United Arab Emirates)
  • FCA (United Kingdom)
  • FMA (New Zealand)
  • SVGFSA (Saint Vincent and the Grenadines)
  • ASIC (Australia)
$200
  • MetaTrader 4
  • MetaTrader 5
AVG 0.4 pips
  • CMA (Saudi Arabia)
  • FCA (United Kingdom)
  • FSCA (South Africa)
  • FSCM (Mauritius)
$0
  • MetaTrader 4
  • MetaTrader 5
  • Proprietary Mobile
  • Proprietary Web
AVG 1.1 pips
  • CySEC (Cyprus)
  • DFSA (United Arab Emirates)
  • FCA (United Kingdom)
  • FSAS (Seychelles)
  • SCB (Bahamas)
  • ASIC (Australia)
  • BaFin (Germany)
  • CMA (Kenya)
$50 or $100 based on country ($10 for the UK)
  • eToro App
  • eToro CopyTrader
  • eToro Investing
AVG 1 pips
  • CySEC (Cyprus)
  • FCA (United Kingdom)
  • FRSA (United Arab Emirates)
  • FinCEN (United States)
  • FINRA (United States)
  • FSAS (Seychelles)
  • GFSC (Gibraltar)
  • AMF (France)
  • MFSA (Malta)
  • SEC (United States)
  • ASIC (Australia)
$0 (Standard)
$2,000 (Prime)
$20,000 (Institutional)
  • cTrader
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
  • ZuluTrade
  • BlackBull CopyTrader
  • BlackBull Invest
  • BlackBull Shares
  • BlackBull Trade
AVG 0.3 pips
  • FMA (New Zealand)
  • FSAS (Seychelles)
$0
  • Proprietary Mobile
  • Proprietary Web
MIN 0.2 pips
  • CFTC (United States)
  • CIRO (Canada)
  • FCA (United Kingdom)
  • JFSA (Japan)
  • MAS (Singapore)
  • HKSFC (Hong Kong)
  • ASIC (Australia)
  • SEBI (India)
  • CBI (Ireland)
$0
  • MetaTrader 4
  • MetaTrader 5
  • Proprietary Web
  • TradingView
AVG 0.5 pips
  • CONSOB (Italy)
  • FCA (United Kingdom)
  • SCB (Bahamas)
  • CMVM (Portugal)
  • FSCM (Mauritius)
  • CVM (Brazil)

In this article we provide an overview of the forex market in Denmark, covering the legal forms of forex trading, restrictions on currency trading, the regulatory bodies involved, the requirements imposed on forex brokers, and how to identify reliable brokers that accept Danish clients. We also discuss the taxation of profits from forex trading in Denmark.

The Danish forex market offers a wide range of trading opportunities, including spot trading, CFDs and futures. Danish traders can trade various currency pairs, including the Danish krone (DKK), euro (EUR), US dollar (USD) and other major currencies. However, it is essential to understand the regulatory framework and the requirements for forex brokers operating in Denmark to ensure a safe and secure trading experience.

In Denmark, several forms of forex trading are permitted, including spot trading, CFDs (Contracts for Difference), spread betting on currency pairs, futures, options and forwards. Spot trading involves buying or selling a currency pair at the current market price, with the transaction typically settling within two business days. CFDs, by contrast, are derivative instruments that allow traders to speculate on the price fluctuations of a currency pair without actually owning the underlying asset.

Futures and options are also available in the Danish forex market, allowing traders to buy or sell a currency pair at a predetermined price for settlement on a specific future date. Forwards, which are similar to futures, are also permitted in Denmark, but they are typically traded over-the-counter (OTC) rather than on an exchange. Additionally, Danish traders can trade currency pairs with leverage, which can amplify both gains and losses. However, leverage is inherently risky and should be used with caution.

The Danish Financial Supervisory Authority (Finanstilsynet) regulates all forms of forex trading in Denmark, ensuring that forex brokers comply with the relevant laws and regulations. The authority also provides guidance and information to traders on the risks associated with forex trading and the importance of choosing a reliable and regulated forex broker.

Restrictions on Currency Trading in Denmark

While Denmark permits various forms of forex trading, there are some restrictions on currency trading in the country. For example, binary options are prohibited, as they are considered high-risk, speculative investment products. Additionally, some forex brokers may not offer certain trading instruments, such as spread betting, to Danish traders because of regulatory constraints.

The Danish Financial Supervisory Authority (Finanstilsynet) has also imposed restrictions on the marketing and sale of forex trading products to retail clients, particularly for products with high leverage or complex features. Forex brokers operating in Denmark must comply with these restrictions and ensure that their trading products are suitable for retail clients.

Furthermore, Danish traders are not allowed to trade with forex brokers that are not regulated by the Danish Financial Supervisory Authority (Finanstilsynet) or another European regulatory authority, such as the Cyprus Securities and Exchange Commission (CySEC) or any other tier-1 EU regulator. This ensures that Danish traders are protected from unregulated and potentially fraudulent forex brokers.

Who Regulates Forex Trading in Denmark?

The Danish Financial Supervisory Authority (FSA) is the primary regulatory body responsible for overseeing the forex market in Denmark. The authority licenses and supervises forex brokers operating in the country and ensures that they comply with the relevant laws and regulations.

The FSA also follows the guidelines issued by the European Securities and Markets Authority (ESMA), which provides guidance and coordination on regulatory matters across the European Union. This ensures that Danish traders are protected by a robust regulatory framework that is consistent with European standards.

The regulatory framework in Denmark is designed to protect traders and ensure that forex brokers operate in a fair and transparent manner. By regulating the forex market, the Danish authorities can prevent fraudulent activities, ensure that traders are treated fairly, and maintain the stability of the financial system.

Requirements for Forex Brokers in Denmark

Forex brokers operating in Denmark must comply with a range of requirements to safeguard traders and uphold the integrity of the financial system. One key requirement is negative balance protection, which prevents traders from losing more than their initial deposit. This means that if a trader’s account balance falls below zero, the broker must automatically close the position and limit the loss to the initial deposit.

Another important requirement is leverage limits, which restrict the amount of leverage that brokers can offer to traders. In Denmark, the maximum leverage limit is 1:30 for major currency pairs and 1:20 for minor currency pairs. This helps to reduce the risk of traders taking on excessive leverage and suffering large losses.

Leverage limits on forex pairs apply only to Danish retail traders, while professional traders may apply for higher leverage ratios.

Additionally, forex brokers in Denmark must provide investor compensation, which protects traders in the event that the broker becomes insolvent. This compensation is typically provided by the Danish Guarantee Fund for Depositors and Investors, which covers deposits up to a certain amount.

Brokers must also provide clear and transparent risk disclaimers, warning traders of the potential risks associated with forex trading. This includes information on the possibility of losses, the risks of leverage, and the importance of having a solid understanding of the markets before trading.

Furthermore, forex brokers in Denmark must segregate client funds from their own capital, which helps to protect traders’ deposits in the event that the broker becomes insolvent. This means that client funds are held in separate accounts and are not used for the broker’s proprietary trading activities.

Finally, brokers must have automatic margin close-outs in place, which close a trader’s positions if their account balance falls below a certain level. This helps to prevent traders from incurring large losses and reduces the risk of the broker having to cover the deficit.

How to Identify Reliable Forex Brokers Accepting Danish Clients

Identifying a reliable forex broker that accepts Danish clients can be challenging, but there are several steps traders can take to ensure they choose a reputable and trustworthy broker. First and foremost, traders should check that the broker is licensed and regulated by a respected authority, such as the FSA or another regulator based in the EU or EEA.

Traders can consult the register of licensed brokers on the FSA website or that of the relevant European regulator to confirm that the broker is authorised to operate in Denmark. Additionally, traders should check for any warnings or fines issued by the regulator against the firm.

Another important factor to consider is price transparency, which refers to the broker’s ability to provide clear and accessible pricing information. Traders should be able to view the broker’s spreads, commissions and other fees easily, and should be wary of providers that charge excessive or hidden costs.

Traders should also take into account the broker’s reputation and reviews from other traders, as well as the level of customer support and educational resources on offer. A reputable broker should have a strong track record, positive feedback and a range of learning materials to help clients improve their skills and knowledge.

Finally, traders should consider the broker’s trading platform and technology, including the range of instruments and tools available, as well as the platform’s speed, reliability and security. A reliable broker should offer a robust and user-friendly trading platform that meets the needs of its clients.

Are There Taxes on Profits from Forex Trading in Denmark?

Before engaging in any forex trading activity, it is advisable to understand what taxes may apply to your gains. Profits from forex trading are taxable in Denmark because the Danish tax authority, Skattestyrelsen, regards forex trading as a form of investment income, and, as such, it is subject to taxation. As of 2024, the maximum tax rate that could be applied to investment income in Denmark was 52.07%.

Traders are required to report their forex trading profits on their tax return and must pay tax on any gains realised. However, losses incurred from forex trading can usually be deducted against taxable income, helping to reduce the overall tax liability.

It is worth noting that the tax treatment of forex trading profits in Denmark can be complex, and traders may need to consult a tax professional to ensure that they meet their obligations. Additionally, traders may also be subject to other taxes, such as value-added tax (VAT) or stamp duty, depending on the specific circumstances of their trading activities.

Forex Brokers in Denmark FAQ

What is the regulatory body responsible for overseeing the Forex market in Denmark?

The Danish Financial Supervisory Authority (Finanstilsynet) is the primary regulatory body responsible for overseeing the forex market in Denmark. The authority licenses and supervises forex brokers operating in the country and ensures that they comply with the relevant laws and regulations.

Are there any restrictions on leverage limits for Forex traders in Denmark?

Yes. The maximum leverage is limited to 1:30 for major currency pairs and 1:20 for minor currency pairs. These limits are in line with the European Securities and Markets Authority (ESMA) regulations, which aim to curb the risk of traders taking on excessive leverage and suffering large losses.

How do I know if a Forex broker is licensed and regulated to operate in Denmark?

You can verify a broker’s status by consulting the register of licensed firms on the Danish Financial Supervisory Authority (Finanstilsynet) website or that of the relevant European regulator. You should also look for any warnings or fines issued against the broker.

Are there any taxes on profits from Forex trading in Denmark?

Yes, profits from forex trading are taxable in Denmark. The Danish tax authority, Skattestyrelsen, treats forex trading as investment income. The rate applied will depend on your individual tax status and other factors.

What is negative balance protection, and is it required for Forex brokers in Denmark?

Negative balance protection prevents traders from losing more than their initial deposit. It is mandatory for forex brokers in Denmark, meaning that if an account balance falls below zero the broker must close the positions and limit the loss to the deposited funds. Typically, however, this protection is available only to retail clients.

Conclusion

In conclusion, the Danish forex market is highly regulated and competitive, offering a wide range of opportunities for traders. It is essential for market participants to choose a reliable broker that is licensed and supervised by a reputable authority. Traders should also be aware of local requirements, including negative balance protection, leverage limits, investor compensation, risk disclaimers, fund segregation and automatic margin close-outs. Finally, considerations such as price transparency, reputation, customer support and educational resources should play a key role when selecting a forex broker.

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