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5 Best Forex Brokers in Northern Ireland

5 Best Forex Brokers in Northern Ireland




Forex trading in Ireland/Dublin is authorized and regulated by the Central Bank of Ireland or CBI.  The CBI is also tasked with authority to regulate all financial services and brokers respectively. The Irish Financial Services Regulatory Authority provides strict regulation, transparency and reliability. The CBI is a leading financial market provider of the currency exchange in Ireland and has power over not only treasury services but provides risk management for all financial instruments. Aside from the strict regulation, the CBI has a comprehensive website which provides substantial information on the market and financial service providers. All financial investment companies which provide investment advice, intermediation, or other related services, must be licensed by the CBI.  This must be done in order to legally operate any financial establishment in Ireland. Failure to comply will result in consequences for the company.



Due to strict CBI regulations, the number of licensed Forex brokers who offer financial services in Northern Ireland and Dublin is unfortunately not extensive. Not many a company will be willing to submit themselves to the level of scrutiny imposed by the CBI. This means that CBI brokers will offer traders a fair and safe financial trading environment. However, multiple globally regulated forex brokers do accept Irish Traders. Dublin is the capital city of Ireland with a population of approximately two million potential forex traders.


The capital of Ireland, Dublin is known for as being a Forex Trading hub in Ireland and Forex Traders in Dublin have a choice of both local and globally recognized brokers who accept local investors. Ireland and therefor Dublin has strong trading partners in the face of major economic powers like the United States, Great Britain, the Netherlands, Germany, Spain, Belgium, and France. Pharmaceuticals, computers, and organic chemicals are amongst Irelands (Dublin) biggest exports.  Ireland, or moreover Dublin, is home to the Irish Stock Exchange which currently trades under the name of Euronext Dublin. Euronext Dublin is considered as the sixth biggest stock exchange group in the world in terms of market capitalization. Ireland and Dublin, used the local Irish pound (IEP) up until 2002 after which the country officially adopted the Euro (EUR) as its local currency. Being one of the fastest-growing European economies in recent years, Ireland and Dublin has begun to attract investors’ attention over recent years.


Influencing Factors on the Northern Irish Forex Trading Market

When it comes to influencing factors to the Financial Markets in Ireland, Dublin or for the fact the world, traders can’t avoid Covid 19 which came into play in 2019/2020. The News was bad for both local and international investors alike. The first signs were initially reported to the World Health Organization (WHO) on December 31, 2019 and on January 30, 2020, the WHO declared the COVID 19 outbreak a global health emergency. On March 11, 2020, the WHO declared COVID 19 a global pandemic. COVID 19 didn’t only come with a health warning but it has resulted in unstable trading patterns in the financial markets.  Irish Traders locally situated in Ireland and Dublin alike, should keep COVID 19 in mind when getting into the market in 2021 as it seems like the pandemic which started in 2019/2020 will be long stretching.


How to Save money and trade safely in Northern Ireland

First and foremost, In order to save money in foreign exchange, investors should do their homework and look for a reputable broker.  Using a practice account before going live and keeping analysis techniques to a minimum will help investors to possibly save money. It’s important to use proper money management techniques and to start small when going live. A large number of scam brokers may use cookies as a way to collect data that trader may not know about. Generally speaking, Cookies are text files with small pieces of data — like a username and password — that are used to identify a user’s computer as they use a computer network. Specific cookies known as HTTP cookies are used to identify specific users and improve their web browsing experience. Investors should be careful what they agree to.


Here is the Top 5 Forex Brokers and Trading Platforms available to investors in Northern Ireland:




BlackBull Markets


BlackBull Markets is a forex & CFD brokerage which is fully regulated by the New Zealand’s Financial Service Providers Register (FSPR). Trading instruments on offer include more than 20 foreign currency pairs, six major stock indices, and the popular commodities gold, silver, as well as WTI & Brent oil which can all be traded across either  the classic MetaTrader 4 (MT4) or the newer MetaTrader 5 (MT5) platforms.


Pros and Cons:

Pros Cons
Commission Free Accounts No US Clients
FIX API trading No Fixed Spread Accounts
No Dealing Desk Limited Trading Tools

Trading Benefits:

Trading Features Accounts Offered Funding Types
ECN ECN Standard Wire Transfer
Leverage 1:500 ECN Prime Credit/Debit
ECN Institutional Skrill


Customer support is available via phone or live chat, both of which are open 24 hours on all trading days.




OctaFX is an online broker which was founded in 2011, offering Forex trading.  As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account.  OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

Pros and Cons:

Pros Cons
Used by 300,000+ traders Doesn’t offer VPS
Established in 2011 Limited range of instruments
Regulated by FSA Not FCA Regulated
Min. deposit from $5


OctaFX provides an array of educational tools to assist beginner traders to become more experienced and even professionals in trading.


Trading Benefits:

Trading benefits Accounts Offered Funding Methods
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Offers STP Mini account Neteller
Low min deposit Standard account
Guaranteed stop loss Zero spread account
Negative Balance Protection STP account
Islamic account



Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.




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
  • 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 is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UKeToro 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


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.




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.


In Conclusion –

If an investor is able to find a reliable broker to trade with, it will significantly reduce their risk as a lot of scam brokers fail to act in an investors best interests.





Are binary option trades still authorised in Ireland?
Binary option trading in Ireland has indeed been banned.  Binary Options trading is very similar to gambling and is not considered as a sound investment opportunity.


How low are forex spreads in Ireland?
Traders in Ireland have the choice between floating and fixed spreads, depending on the brokerage firm they consider.


Do brokers offer demo accounts in Ireland?
Most brokerage firms will offer free demo accounts, which can be used to test trading strategies.


Can I trade the forex all week long?
Most brokers do not offer trading on Saturdays or Sundays. However, the forex market is available to new traders who want to trade on an occasional basis and to professional who wants to trade all week long.


How do I know if a brokerage firm is licenced in Ireland?
Traders can consult the Central Bank’s site, which features a list of licenced brokers as well as the types of assets they can legally trade with them.





Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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