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Best Forex Brokers in Latvia

Latvia is an EU nation where trading activities are regulated by the Financial and Capital Market Commission (FCMC), which is now integrated in the Bank of Latvia. But the regulatory policies are aligned with those of ESMA and MiFID II, creating a secure trading environment. To help you choose the best brokers in Latvia, we compared brokers in key areas like fees, leverage, security, trading platform, and customer services. The following are our top 10 forex brokers in Latvia.

Order by
71FXDDBonusNo Deposit Trading Bonus by FXDDNegative Balance ProtectionMin deposit $250Max leverage 1:50Regulated by MFSAAdd to compare listRating 3.7 / 5Start trading
Pros, cons & fees
Wide range of trading platformsMultilingual supportNegative balance protectionRead review
Pros

  • Wide range of trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WebTrader.

  • Flexible and beginner friendly account types.

  • Negative balance protection.

Cons

  • Minimum deposits with FXDD can be quite higher than other brokers.

  • Accounts dormant for a long time may be charged inactivity fees.

  • No U.S clients.

Withdrawal fee $0Deposit fee $0
72OnFin brokerBonus100% welcome bonus1:1000 Max LeverageMin deposit $1Max leverage 1:1000Regulated by MISAAdd to compare listRating 3.7 / 5Start trading
Pros, cons & fees
Read review
Pros

  • High Leverage Options

  • Diverse Account Types

  • Multiple Trading Platforms

Cons

  • Recent Domain Creation

  • Limited Social Media Presence

  • Moderate Risk Rating

Withdrawal fee $0Deposit fee $0
73Yadix.comBonus25% welcome bonusBest STP BrokerRegulated by FSC (BVI)Add to compare listRating 3.6 / 5Start trading
Pros, cons & fees
Free VPS hostingRead review
Pros

  • Yadix offers tight raw bank spreads as low as 0.0 pips on major currency pairs, ensuring favorable pricing for traders.

  • The Broker offers support for copy trading, a popular feature that allows traders to replicate the trades of successful and experienced traders.

  • Yadix has an extensive education center with learning e-books, videos, and guides, allowing new traders to enhance their skills, improve their strategies, and gain insights from forex professionals.

Cons

  • There have been controversies surrounding the regulation of Yadix, as claims of being regulated by the IFSC (International Financial Services Commission) lack supporting license numbers. Traders should exercise caution and conduct thorough research before making a decision.

  • Yadix has received substantial negative reviews online, indicating certain concerns or issues some customers face.

  • While the Classic account does not charge commissions, other account types, such as the Scalper and Pro, carry relatively high commission fees.

74ModMountWeb Trading PlatformMin deposit $250Max leverage 1:400Regulated by FSAAdd to compare listRating 3.6 / 5Start trading
Pros, cons & fees
Affiliate ProgramWebTrader platformSpecialized trading accounts24/7 Customer SupportRead review
Pros

  • The broker provides a personalized Web Trading Platform, enhancing the user experience and catering to individual trading preferences.

  • Traders benefit from daily trading signals, helping them stay informed about market trends and potential trading opportunities.

  • Negative Balance Protection ensures that traders do not lose more than their initial investment, safeguarding against excessive losses.

Cons

  • The broker provides limited educational and research tools, which may hinder traders' ability to expand their knowledge and make informed trading decisions.

  • ModMount does not offer MT4, MT5, or algorithmic trading options, limiting the choices available to traders who prefer these platforms.

  • Traders may incur a inactivity fee if their account remains dormant for an extended period, potentially impacting their account balance.

Withdrawal fee $0Deposit fee $0
75AAFX TradingBonus35% welcome bonusBest For High Leverage TradingRegulated by FSA (SV)Add to compare listRating 3.6 / 5Start trading
Pros, cons & fees
Specialized trading accounts24/5 instant money withdrawalRead review
Pros

  • Islamic account option

  • Competitive affiliate program

  • Competitive trading conditions

Cons

  • No US Clients

  • Limited trading restrictions

  • Limited research and analysis tools

76ForexMartBonus30% deposit bonusBest Commission Free TradingRegulated by CySECAdd to compare listRating 3.6 / 5Start trading
Pros, cons & fees
Specialized trading accountsFree VPS hosting24/7 instant money withdrawalRead review
Pros

  • ForexMart offers various trading instruments, including Forex, metals, energies, and cryptocurrencies.

  • The Broker provides clients with low spreads, making it an affordable option for those looking to trade Forex.

  • ForexMart offers high leverage, which allows traders to increase their potential profits.

Cons

  • ForexMart charges withdrawal fees depending on the payment method, which can add up over time.

  • The spreads for some instruments offered by ForexMart are not as competitive as other brokers in the market.

  • There is a lack of educational materials such as trading strategies, e-books, and webinars on Forex, commodities, CFDs, and stocks.

77Key to Markets0-Pip EUR/USD SpreadsMin deposit $100Max leverage 1:500Regulated by FCA, FSCAdd to compare listRating 3.6 / 5Start trading
Pros, cons & fees
Competitive SpreadsFast WithdrawalsAffiliate ProgramRead review
Pros

  • Key To Markets is regulated by the Financial Conduct Authority (FCA) and the Financial Services Commission (FSC), providing traders with security and confidence in the platform's legitimacy.

  • The broker offers Myfxbook AutoTrade, allowing traders to link their MT4 trading account to preferred trading systems listed on Myfxbook.com. This feature enables traders to follow successful strategies without performance fees or management charges.

  • Key To Markets provides competitive spreads, making it an attractive option for cost-conscious traders seeking favorable trading conditions.

Cons

  • One drawback of trading with Key To Markets is the relatively limited availability of educational resources. Traders seeking comprehensive learning materials may find the offerings to be somewhat limited.

  • Key To Markets lacks live chat support, which can be a disadvantage for traders who prefer immediate assistance when encountering issues or inquiries.

  • The absence of a trader forum on the platform may be a drawback for those who value engaging with a community and sharing insights and experiences with fellow traders.

Withdrawal fee $0Deposit fee $0
78FreshForexBonus15% deposit bonusBest For Trading Without Min DepositMin deposit $10Max leverage 1:2000Regulated by NoAdd to compare listRating 3.3 / 5Start trading
Pros, cons & fees
Specialized trading accountsFree VPS hostingRead review
Pros

  • Multiple Trading Platforms: Fresh Forex offers traders the popular MetaTrader 4 and 5 platforms on desktop, web, and mobile devices.

  • Wide Range of Assets: Traders have access to a variety of assets, including forex, commodities, indices, and cryptocurrencies.

  • Competitive Spreads: Fresh Forex offers competitive spreads starting from as low as 0.1 pips for major forex pairs.

Cons

  • Limited Customer Support: Fresh Forex only offers customer support from Monday till Friday 24/5, which may be inconvenient for traders who have questions on weekends.

  • No US and Canada Clients: Fresh Forex does not accept clients from the United States, limiting its reach to traders from these regions.

  • Commission on CFD Trades: Fresh Forex charges a commission on CFD trades, which can increase trading costs.

Withdrawal fee $0Deposit fee $0
79ForexEE0.3-Pip EUR/USD SpreadMin deposit $50Max leverage 500Regulated by NoAdd to compare listRating 3.3 / 5Start trading
Pros, cons & fees
Islamic AccountMultiple Account TypesHigh LeverageRead review
Pros

  • Regulated for the safety of funds.

  • Flexible leverage up to 1: 1000 for potential profits.

  • Wide range of assets including currency pairs, metals, energies, and indices.

Cons

  • Limited educational resources for beginners.

  • The high minimum deposit for certain account types.

  • Limited trading restrictions.

Withdrawal fee $0Deposit fee $0
80AXWELMultilingual Customer ServiceMin deposit $250Max leverage 1:200Regulated by MISAAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
Specialized trading accountsRead review
Pros

  • Multiple CFD Asset Classes Available: The broker offers tradeable assets across forex, metals, cryptocurrencies, stocks, indices, and commodities, allowing traders to diversify easily.

  • Three Clear Account Types: The broker provides Silver, Gold, and Platinum accounts, each designed for different experience levels.

  • Consistent Leverage Across Accounts: All account types offer leverage up to 1:200, giving traders flexibility regardless of their account level.

Cons

  • No MetaTrader 4/5 Available: AXWEL does not offer MetaTrader 4 or 5 trading platforms.

  • No Tier-1 Regulations: The company lacks a tier-1 regulator.

  • No Islamic Swap-Free Accounts Offered: There is no confirmed information about Islamic swap-free account options.

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Our ranking methodology and selection process