Forex trading in Hungary is legal and regulated, providing retail traders with access to a range of financial instruments, including spot trading, CFDs, futures, options and forwards. As an EU member state, Hungary aligns its regulations with the European Securities and Markets Authority (ESMA) framework and follows the MiFID II rules governing derivatives trading. As a result, Hungarian traders can register with brokers authorised by financial regulators across the EU. Forex brokers operating locally must hold a licence from the National Bank of Hungary (MNB). The authority enforces financial regulations covering client fund segregation, risk disclosure, negative balance protection and complaint resolution.
Top 10 Forex Brokers in Hungary
-
Fusion Markets
- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
Trading InstrumentsDeposit Methods- Commodity CFDs
- Crypto CFDs
- Forex CFDs
- Index CFDs
- Metal CFDs
- Stock CFDs
-
FP Markets
- Australia and CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading InstrumentsDeposit Methods- Commodity CFDs
- Crypto CFDs
- Energy CFDs
- ETF CFDs
- Forex CFDs
- Index CFDs
- Metal CFDs
- Stock CFDs
-
BlackBull Markets
- Broker boasting lightning-fast execution speed
- ECN brokers with tight spreads from 0.0 pips
- $0 minimum deposit requirement
Trading InstrumentsDeposit Methods- Commodity CFDs
- Crypto CFDs
- Forex CFDs
- Index CFDs
- Metal CFDs
- Stock CFDs
-
Vantage
- Broker offering some of the lowest spreads from 0.0 pips
- Operating in multiple markets under licenses from tier-1 regulators
- Provides a range of account types with great trading conditions
Trading InstrumentsDeposit Methods- Commodity CFDs
- Crypto CFDs
- Energy CFDs
- Forex CFDs
- Index CFDs
- Metal CFDs
- Stock CFDs
-
easyMarkets
- Innovative tools like to manage risk effectively.
- EasyMarkets provides access to Forex, Indices and Stocks
- Proprietary EasyMarkets platform available, as well as MetaTrader 4 (MT4), to suit both beginner and experienced traders.
Trading InstrumentsDeposit Methods- Commodity CFDs
- Crypto CFDs
- Forex CFDs
- Forex Forwards
- Forex Options
- Index CFDs
- Metal CFDs
- Metal Options
- Share CFDs
-
Capital.com
- Capital.com provides access to a wide range of financial products: Forex, CFDs, cryptocurrencies and more
- Capital.com offers commission-free stock trading and competitive forex spreads
- Advanced trading tools enhancing traders' ability to make better decisions
Trading InstrumentsDeposit Methods- Commodity CFDs
- Commodity Futures
- Crypto CFDs
- Crypto futures
- Currency Futures
- Forex CFDs
- Index CFDs
- Index Futures
- Options
- Share CFDs
-
Forex.com
- Access to over 80 currency pairs, majors and exotics.
- Traders may pick from a variety of platforms, including MT4 and MT5, as well as Forex.com proprietary online and mobile platform
- Forex.com provides exclusive research, news feeds, and a range of educational resources to help traders make informed decisions.
Trading InstrumentsDeposit Methods- Bond Futures
- Bond Options
- Bonds CFDs
- Commodity CFDs
- Commodity Futures
- Commodity Options
- Crypto CFDs
- Crypto Options
- Currency Futures
- Energy Futures
- Energy Options
- ETF CFDs
- ETF Options
- Forex CFDs
- Forex Options
- Index CFDs
- Index Futures
- Index Options
- Interest Rate Futures
- Metal CFDs
- Metal Futures
- Metal Options
- Share CFDs
- Stock Options
-
Tickmill
- Classic and Raw accounts available to suit various trading needs and requirements.
- Popular trading platforms, such as MT4 and MT5.
- Regulated by reputable authorities: ASIC and CySEC.
Trading InstrumentsDeposit Methods- Bonds CFDs
- Commodity CFDs
- Crypto CFDs
- Forex CFDs
- Index CFDs
- Stock CFDs
-
Libertex
- Libertex offers access to over 250 assets, including Forex, Stocks, Commodities, Cryptocurrencies, and ETFs.
- The proprietary trading platform features advanced charting tools.
- Licensed and regulated by CySEC.
Trading InstrumentsDeposit Methods- Commodity CFDs
- Crypto CFDs
- Forex CFDs
- Index CFDs
- Metal CFDs
- Share CFDs
-
ActivTrades
- Winner of 20+ Global Awards
- MT4/MT5, TradingView
- Leverage up to 1:400
Trading InstrumentsDeposit Methods- Bonds CFDs
- Commodity CFDs
- Crypto CFDs
- ETF CFDs
- Forex CFDs
- Index CFDs
- Share CFDs
Our 8-step guide to choosing a forex broker
- Verify regulation and authorisation (e.g., FCA, ASIC).
- Check trading costs: spreads, commissions, swaps.
- Compare execution quality: slippage, fills, order types.
- Check platforms and tools: MT4/MT5, cTrader, TradingView.
- Ensure risk controls: stop-loss, guaranteed stops, negative balance protection.
- Review funding and withdrawals: local options, fees, processing times.
- Evaluate research, education, and alerts.
- Prioritise security and support: segregated client funds, two-factor authentication, support hours.
Brokers Compared by Spread
FX Broker Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Fusion Markets |  |
$0 |
| FP Markets | |
$50 (AU$100) |
| BlackBull Markets |  |
$0 (Standard)$0 (Prime)$20,000 (Institutional) |
| Vantage | |
$50 |
| easyMarkets | |
$25 ($2,000 for MT4 Premium, $10,000 for MT4 VIP) |
| Capital.com | |
$/€20 |
| Forex.com | |
$100 |
| Tickmill | |
$100 |
| Libertex | |
$/€10, €100 (first deposit, Europe) |
| ActivTrades | |
$0 |
Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Fusion Markets | |
1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (VFSC | Retail Account) |
| FP Markets | |
1:500 (CySEC | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:500 (FSAS | Retail Account) |
| BlackBull Markets | |
1:500 (FMA), 1:500 (FSAS) |
| Vantage | |
1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (CIMA | Retail Account), 1:30 (FCA | Retail Account) |
| easyMarkets | |
1:500 (ASIC | Pro Account), 1:500 (CySEC | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:2000 (FSAS | Retail Account) |
| Capital.com | |
1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account), 1:300 (CySEC | Pro Account), 1:300 (FCA | Pro Account), 1:200 (SCB | Retail Account) |
| Forex.com | |
1:30 (ASIC), 1:50 (CFTC), 1:200 (CIMA), 1:30 (CIRO), 1:30 (CySEC), 1:30 (FCA), 1:200 (MAS), 1:400 (Pro Account), 1:25 (JFSA) |
| Tickmill | |
1:500 (CySEC | Pro Account), 1:500 (FCA | Pro Account), 1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account), 1:1000 (FSAS) |
| Libertex | |
1:30 (BaFin | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (SVGFSA | Retail Account) |
| ActivTrades | |
1:400 (CMVM | Pro Account), 1:30 (CMVM | Retail Account), 1:1000 (FSC), 1:200 (SCB) |
Forex Broker Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Fusion Markets | |
cTrader, MetaTrader 4, MetaTrader 5, TradingView |
| FP Markets | |
cTrader, MetaTrader 4, MetaTrader 5, TradingView |
| BlackBull Markets | |
cTrader, MetaTrader 4, MetaTrader 5, TradingView |
| Vantage | |
MetaTrader 4, MetaTrader 5, Proprietary Web, TradingView |
| easyMarkets | |
MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web, TradingView |
| Capital.com | |
MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web, TradingView |
| Forex.com | |
MetaTrader 4, MetaTrader 5 |
| Tickmill | |
MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web |
| Libertex | |
MetaTrader 4, MetaTrader 5 |
| ActivTrades | |
MetaTrader 4, MetaTrader 5, Proprietary Web, TradingView |
Comprehensive Comparison of the Best Hungarian Forex Brokers
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
 |
$0 |
|
AVG 0.91 pips |
|
|
 |
$50 (AU$100) |
|
AVG 1.29 pips |
|
|
 |
$0 (Standard)$0 (Prime)$20,000 (Institutional) |
|
AVG 0.1 pips |
|
|
 |
$50 |
|
AVG 0.08 pips |
|
|
 |
$25 ($2,000 for MT4 Premium, $10,000 for MT4 VIP) |
|
MIN 0.8 pips |
|
|
 |
$/€20 |
|
AVG 0.7 pips |
|
|
 |
$100 |
|
AVG 1.3 pips |
|
|
 |
$100 |
|
AVG 1.7 pips |
|
|
 |
$/€10, €100 (first deposit, Europe) |
|
AVG 0.1 pips |
|
|
 |
$0 |
|
AVG 0.5 pips |
|
Legal Forms of Forex Trading in Hungary
In Hungary, traders have access to a diverse range of financial instruments for participating in the forex market. These instruments accommodate different trading strategies and risk preferences, allowing participants to choose an approach suited to their objectives.
- Spot Trading
This involves the immediate exchange of one currency for another at the current market rate. Transactions are settled “on the spot,” typically within two business days. Spot trading is straightforward and appeals to traders seeking direct exposure to currency price movements. - Contracts for Difference (CFDs)
CFDs are derivative instruments that enable traders to speculate on the price movements of currency pairs without owning the underlying assets. In Hungary, CFD trading is legal and regulated under the European Union’s framework, with oversight from the National Bank of Hungary (MNB). Traders can use leverage but must comply with the limits and risk management requirements established by regulatory authorities. - Futures Contracts
These standardised agreements require traders to buy or sell a specific amount of currency at a predetermined price on a set future date. Futures are commonly traded on exchanges and are favoured by those seeking to hedge against currency risk or speculate on future price movements. - Options
Options give traders the right, but not the obligation, to buy or sell a currency at a specified price before a certain date. This flexibility allows traders to manage risk and implement various strategies based on their market expectations. - Forwards
Similar to futures, forward contracts are agreements to exchange currencies on a future date at a price agreed upon in advance. Unlike futures, forwards are customisable and traded over the counter (OTC), making them suitable for parties with specific requirements.
Restrictions on Forex Trading in Hungary
In Hungary, the National Bank of Hungary (MNB) enforces restrictions on certain financial instruments to protect retail investors from high-risk products. These measures are intended to mitigate potential losses and support a fair trading environment.
Binary Options: The MNB prohibits the marketing, distribution and sale of binary options to retail clients. This ban reflects the highly speculative nature of binary options, which can lead to significant financial losses for inexperienced traders.
Contracts for Difference (CFDs): Although CFDs are available to retail clients, the MNB imposes several restrictions to enhance investor protection:
- Leverage Limits: The MNB requires different initial margins depending on the type of underlying asset. Consequently, the maximum leverage available to retail clients is up to 30:1, depending on the CFD’s underlying asset. This restriction is designed to prevent excessive risk-taking.
- Margin Close-Out Protection: To protect retail clients, service providers must apply margin close-out protection. This means that one or more CFD positions must be closed on terms most favourable to the client when the sum of the funds in the CFD trading account and the unrealised net profits from all open CFDs linked to that account falls below half of the total initial margin required for those positions.
- Negative Balance Protection: A client’s aggregate liability for all CFDs cannot exceed the amount of the client’s funds in the CFD trading account at any time. This places an upper limit on potential losses and prevents clients from incurring debts exceeding their account balance.
- Marketing Restrictions: Service providers are prohibited from publishing marketing information related to CFD trading unless it includes the standardised risk warning required by the MNB, including the percentage of client accounts that lose money. Providers must also not encourage trading by offering bonuses or other monetary or non-monetary benefits to retail clients.
Regulations on Forex Trading in Hungary
In Hungary, the forex market is regulated by the Magyar Nemzeti Bank (MNB), also known as the National Bank of Hungary. The MNB is responsible for overseeing financial institutions and supporting the stability and integrity of the financial system. Its supervisory role includes licensing, monitoring and enforcing compliance among forex brokers operating within the country.
The MNB’s regulatory framework aligns with European Union directives, particularly the Markets in Financial Instruments Directive II (MiFID II), which aims to enhance investor protection and promote fair, transparent and efficient financial markets. Forex brokers in Hungary must comply with these regulations to operate legally.
The MNB’s supervisory activities include:
- Licensing and Authorisation: Forex brokers must obtain the necessary licences from the MNB to offer their services in Hungary. This process involves meeting stringent capital requirements, demonstrating robust internal controls and ensuring that key personnel are competent.
- Ongoing Supervision: The MNB conducts regular audits and inspections to ensure that licensed brokers comply with regulatory standards. This includes monitoring financial reporting, risk management practices and compliance with conduct-of-business rules.
- Market Surveillance: To maintain market integrity, the MNB monitors trading activities to detect and prevent market abuse, including insider trading and market manipulation. The MNB also enforces compliance with the Short Selling Regulation (SSR) and publishes warnings about entities engaging in unauthorised activities.
- Investor Protection: The MNB ensures that forex brokers implement measures to protect client funds, provide transparent information and comply with best execution policies. This includes enforcing requirements for negative balance protection, client fund segregation and clear risk disclosures.
Requirements for Forex Brokers in Hungary
In Hungary, forex brokers must comply with stringent requirements set by the National Bank of Hungary (MNB) to provide investors with a secure and transparent trading environment. These requirements align with both national regulations and European Union directives, particularly the Markets in Financial Instruments Directive II (MiFID II).
Licensing and Authorisation
To operate legally, forex brokers must obtain a licence from the MNB. The licensing process involves several key steps:
- Application Submission: Brokers must complete and submit a comprehensive application to the MNB. This includes a detailed business plan outlining the firm’s operational strategy, target markets and financial projections.
- Financial Documentation: Applicants must submit audited financial statements for the previous two years, if applicable, together with future financial projections. This documentation demonstrates the firm’s financial stability and preparedness to operate in the forex market.
- Management Information: Applicants must provide detailed information about the firm’s management and ownership structure. This includes background checks to ensure that key personnel meet the MNB’s “fit and proper” criteria.
- Risk Management Framework: Brokers must provide an outline of their risk management systems, demonstrating their ability to identify, manage and mitigate potential risks associated with forex trading.
Additionally, brokers must have a physical office in Hungary and maintain an account with a local bank. A local office gives the firm a tangible presence in the country and facilitates oversight and accountability. The minimum capital requirement for forex brokers is €125,000, which must be deposited in a local bank account.
Ongoing Compliance
Once licensed, forex brokers must comply with ongoing obligations, including:
- Capital Adequacy: Maintaining the required minimum capital to support financial stability.
- Reporting: Regularly submitting financial reports and disclosures to the MNB to ensure transparency and facilitate effective supervision.
- Conduct of Business: Following conduct standards that promote the fair treatment of clients, including clear communication, fair pricing and prompt dispute resolution.
Taxes on Forex Trading Profits in Hungary
In Hungary, profits derived from forex trading are classified as capital gains and are subject to taxation under the country’s personal income tax framework. The tax rate on capital gains is 15%.
- Tax Reporting Obligations
- Annual Tax Return: Individuals must report capital gains from forex trading in their annual tax returns. The filing deadline is typically 20 May of the following year. For example, profits earned in 2024 should be declared by 20 May 2025.
- Calculation of Gains: The taxable gain is calculated by subtracting the acquisition cost and any associated expenses from the total proceeds of the forex transactions. Traders should maintain detailed records of all transactions, including dates, amounts and costs, to ensure accurate reporting.
- Social Contribution Tax
In addition to the 15% capital gains tax, a further 13% social contribution tax may apply if certain conditions are not met. This may bring the total tax liability to 28%. However, specific exemptions or caps may apply, so traders should consult a tax professional to determine their individual obligations. - Loss Offsetting
Hungarian tax law allows capital losses to be offset against capital gains within the same tax year. If losses exceed gains, the remaining amount may be carried forward to offset future capital gains for a limited period. Proper documentation of all trading activity is essential to substantiate claims for loss offsetting. - Professional Advice
Given the complexity of tax regulations and the possibility of legislative changes, traders should seek guidance from a tax adviser or accountant familiar with Hungarian tax law. A qualified professional can provide personalised advice, support compliance with reporting requirements and help traders manage their tax liabilities.
Choosing a Reliable Forex Broker in Hungary
Key factors to consider include:
- Regulatory Compliance: Ensure that the broker is authorised and regulated by a reputable financial authority. In Hungary, the National Bank of Hungary (MNB) oversees financial institutions. Brokers regulated by well-known international authorities such as the FCA or ASIC may also be considered trustworthy.
- Client Fund Protection: A reputable broker should offer negative balance protection, ensuring that traders cannot lose more than their deposited funds. This is particularly important in volatile markets. Brokers should also segregate client funds from their operational funds, helping to protect client money if the broker experiences financial difficulties.
- Transparent Fee Structure: Reliable brokers provide clear information about their fees, including spreads, commissions, overnight charges and any other costs. Fee transparency helps traders understand the true cost of trading and avoid unexpected charges.
- Trading Platform and Tools: A dependable broker should offer a robust, user-friendly trading platform equipped with essential tools such as real-time charts, technical indicators and risk management features.
- Customer Support: Responsive and knowledgeable customer support is essential. Traders should have access to assistance when needed, particularly during trading hours. Support should be available through multiple channels, including phone, email and live chat, preferably in the trader’s chosen language.
- Educational Resources: Reputable brokers often provide educational materials such as webinars, tutorials and articles to help traders develop their skills and knowledge. Access to high-quality educational resources can be particularly beneficial for novice traders.
- Reputation and Reviews: Research the broker’s reputation by reading reviews from other traders and checking for regulatory actions or complaints. Consistently positive feedback and a clean regulatory record can indicate that a broker is trustworthy.
FAQs
Are there any foreign exchange controls in Hungary?
No, there are no foreign exchange controls in Hungary. This means traders can engage in forex transactions without government restrictions on currency exchange.
What leverage limits are available for forex trading in Hungary?
Hungarian brokers offer leverage in accordance with European Securities and Markets Authority (ESMA) regulations:
- Up to 1:30 for major currency pairs (e.g., EUR/USD and USD/JPY)
- Up to 1:20 for non-major currency pairs (e.g., USD/HUF and EUR/HUF)
How are profits from forex trading taxed in Hungary?
Profits from forex trading are typically classified as capital gains and are subject to a flat tax rate of 15%. However, the total rate may rise to 28% if certain conditions are not met. Consult a tax professional to determine your specific tax obligations.
Why You Should Trust RationalFX
When it comes to making informed decisions about forex brokers, it's essential to rely on trustworthy sources. RationalFX, a company with over 20 years of experience since its founding in 2005, has established itself as a credible authority in the industry. With an impressive collection of over 2500 reviews on Trustpilot, boasting a score of 4.2, it's clear that Rational FX has built a reputation for providing reliable and unbiased information.
What sets Rational FX apart is its rigorous evaluation process, which considers over 30 different criteria when selecting forex brokers. This comprehensive approach ensures that every aspect of a broker's service is taken in consideration, including regulation, forex spreads, trading platforms, deposit methods, and reputation. With its wealth of experience, transparent review process, and outstanding customer feedback, Rational FX is a trusted source for anyone seeking reliable information on forex brokers. You can reach us via e-mail at feedback@rationalfx.com or contact us through our social media accounts here: Facebook, YouTube, or leave a feedback here.