4 best Forex Brokers and platforms in Ireland – Comparison and reviews

Forex trading requires a forex trader to start by choosing a forex broker that will help them start and grow in their trading journey. 

See the list of the best 4 Forex Brokers in Ireland:

Forex Broker:
Open account:
1. Capital.com
Capital.com logo
Starting 0.0 pips variable & no commissions
(70+ currency pairs)
+ Best platform
+ TradingView charts
+ MT4
+ Best education
+ Personal support
Live-account from $ 20(Risk warning: 76% of retail CFD accounts lose money)
2. BlackBull Markets
BlackBull Markets logo
Starting 0.0 pips & negotiable commission per 1 lot
(64+ currency pairs)
+ ECN Broker
+ Deep pool execution
+ High liquidity
+ Best execution
+ Leverage 1:500
+ MT4/MT5
Live-account from
$ 200(Risk warning: 76% of retail CFD accounts lose money)
3. Pepperstone
Starting 0.0 pips & $ 3.5 commission per 1 lot
(40+ currency pairs)
+ Fast execution
+ Large FX Broker
+ Good service
+ MT4/MT5/cTrader
+ TradingView Charts
Live-account from
$ 200(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)
4. IQ Option
IQ Option logo
Starting 0.1 pips variable & no commission
(25+ currency pairs)
+ Easy to use
+ Binary Trading
+ Support 24/7
+ Min. Deposit 10$
+ Lowest spreads on main trading hours
Live-account from $ 10(Risk warning: Your capital might be at risk.)

If you are a forex trader based in Ireland and looking for a way to start trading forex, here is a list of five forex brokers offering international standard trading features and a guide to get you started. 

The list of the 4 best forex brokers and platforms in Ireland:

  1. Capital.com 
  2. BlackBull Markets 
  3. Pepperstone 
  4. IQ Option 

1. Capital.com 

The official website of the forex broker Capital.com

Capital.com has been in the financial markets since 2016 and has registered thousands of forex traders. It offers a variety of trading instruments-Indices, stocks, shares, commodities, and cryptocurrencies via CFDs. 

It is regulated by the Cyprus Securities and Exchange Commission, Financial Conduct Authority, and Australian Securities and Investment Commission.

It has a Standard account with an initial deposit of $20, a Plus account with $2000, and the Premier account with $10,000. Forex spreads from 0.8 pips, and it has no commissions for most trading instruments. 


  • Minimum deposit-$20
  • License-FCA, ASIC, CySEC
  • Platforms-MT4, web-trader
  • Spreads from 0.8 pips on major pairs
  • Support-24/5
  • Free demo-yes
  • Leverage-1:30

It has multiple regulations, which makes it available in many countries. It also has low trading costs since there are no inactivity costs; overnight charges apply depending on the type of asset, the size of the trade, and leverage. Capital.com also has no deposit/withdrawal fees

EU retail traders have a limit of 1:30. Its traders can transfer funds to and from their accounts via iDeal, Sofort, Multobanko, Trustly, Prezelewy, Apple Pay, 2c2p, GiroPay, bank transfers, debit, and credit cards. 

Disadvantages of Capital.com 

  • It has a high rate of overnight costs. Capital.com has a high rate for overnight costs, limiting long-term traders who trade by holding positions open for more than a week. 

(Risk warning: 76% of retail CFD accounts lose money)

2. BlackBull Markets

The official website of the Forex Broker BlackBull Markets

It started its operations in 2014, and since then, it has served thousands of traders. It has a wide range of trading instruments such as Forex, Commodities, Metals, Indexes, Energies, shares, and CFDs.

It has a trading license from the Financial Services Authority. It also offers three types of accounts, and the ECN Standard requires a minimum deposit of $200, the ECN Prime, $2000, and the ECN institutional, $20,000.

Forex spreads start at 0.8 pips on the ECN Standard, ECN Institutional starts at 0.0 pips, and ECN Prime starts at 0.1 pips. The Standard account has no commission, the Prime account has commissions from$6 for every $100,000, and the ECN institutional varies with the asset and the volume. 

BlackBull Markets account types


  • Minimum deposit-$200
  • License-FSA
  • Platforms-MT4, MT5
  • Spreads-0.0 pips
  • Support-24/5
  • Free demo-yes
  • Leverage-1:30

Traders using its trading platform can access industry-standard trading tools from the MT5 and MT4 trading platforms. It has Social/copy trading features using the Zulu Trader and MyFxBook. It also has VPS hosting for traders to manage an account balance of $2000.

BlackBull Markets logo

Disadvantages of BlackBull Markets

  • Limited learning resources. BlackBull Markets has a learn-to-trade section that offers resources that traders can use to learn how to trade different trading assets. These resources are not as comprehensive as industry standards dictate, and new traders cannot rely on them to trade.  
  • Limited research materials. The research offered by this forex broker is available in short videos, market analyses, and news through articles; However, this research is available and is in-depth; it is limited to a few videos and articles per day. 

(Risk Warning: Your capital can be at risk)

3. Pepperstone

The official website of the Forex Broker Pepperstone

Since it started offering its services in 2010, it has had thousands of registered accounts. It offers various trading instruments such as ETFs, commodities, indices, shares, and forex. It has a trading license from Financial Conduct Authority and Australian Securities and Investment Commission

It has the Standard and Razor accounts with an initial $200. The Standard account has forex spreads from 1.3 pips and has no commissions, while the Razor account from 0.0 pips and commissions of $7 per round turn for every $100,000. 


  • Minimum deposit-$200
  • License-ASIC, FCA
  • Platform-MT4, MT5,c Trader
  • Spreads-0.0 pips on the Razor account
  • Support-24/5
  • Free Demo-yes
  • Leverage-1:400

When it comes to the trading costs, it has no inactivity costs and no deposits/ withdrawals, but the overnight charges apply. It has a leverage of 1:400 and a limited demo account for 30 days, and virtual funds of $50,000. 

It offers multiple trading platforms, the MT4, MT5, and the c Trader, which are among the leading in the financial markets. Traders can deposit or withdraw using Bpay, UnionPay, PayPal, Neteller, POLi, Skrill, debit cards, credit cards, and bank transfers. 

Pepperstone logo

Disadvantages of Pepperstone

  • It has limited educational resources. Its learning materials are in-depth but limited to a few videos and articles, which is below average for an international forex broker. 

(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)

4. IQ Option

The official website of the forex broker IQ Option

It has been trading in the financial market for more than a decade since its operations in 2013. It offers CFDs, commodities, Cryptocurrencies, ETFs, Binary Options (only for professional traders and outside EAA countries), Forex, and Digital options. IQ Option has a trading license from Cyprus Securities and Exchange Commission.

Its users can register two accounts: the VIP account with varying high initial deposits, and the Standard account has $10. Forex spreads vary with the liquidity and trading instrument but start at 0.8 pips for major pairs. 

It has no commissions for most trading instruments, but cryptocurrencies have 2.9%. The Rollover costs range from 0.1-0.5%; it also has inactivity costs of $10 for three months of inactivity. Deposits are free, but withdrawals using bank transfers have a $31 fee.


  • Minimum deposit-$10
  • License-CySEC
  • Platform-IQ Option trading platform
  • Spreads-from 0.8 pips
  • Support-24/7
  • Free demo-yes
  • Leverage-500:1

IQ Option is a forex broker known for offering options trading and most of the trader’s options. It has low trading costs, a proprietary trading platform offering industry-standard trading resources, and fast order processing speeds. 

IQ Option logo

Disadvantages of IQ Option

  • Limited payment methods. It has a limited number of payment methods traders can use to deposit funds on its trading platform.
  • Limited trading instruments. Although it has Binary options (only for professional traders and outside EAA countries) and digital options, it has a limited number of trading instruments traders can access on the financial markets. 

(Risk warning: Your capital might be at risk.)

What are the financial regulations in Ireland? 

Ireland is a country with a well-developed financial system and is a part of the European Union. The forex industry is estimated to trade a volume of billions annually. The financial sector of Ireland has rules and regulations that favor investment and trading in the Irish markets while regulating it. 

 The Financial sector of Ireland has regulations from the Central Bank of Ireland. The central bank of Ireland should ensure the stability of the financial sector by monitoring and balancing the interest rates, adopting policies that threaten the stability of the financial system, and regulating financial service providers. 

Central Bank of Ireland logo

Forex brokers regulated by jurisdictions within the European economic zone can operate in Ireland since It is a Member of the European Union. The Central Bank of Ireland established the Financial Instruments Directive law of 2004 to regulate the forex industry in Ireland. Some of the regulations that the Central bank of Ireland implements include the following;

Financial service providers such as banks and non-bank finance sectors require a trading license to operate in Ireland. The CBI supervises the financial industry and ensures that financial service providers meet the standards established to get a license for operation. 

Security for traders from Ireland

The Central bank of Ireland has ensured security for its traders and that firms regulated by the CBI act transparently, honestly, and fairly towards consumers. When offering financial services and products, they should have the consumer’s interest at heart, provide efficient information, and solve consumer issues fast and efficiently. 

Traders and investors have a right to request information about the provided services. Your financial provider has to ensure that they give you accurate and clear information in writing about the products they offer. 

Forex traders and investors have the right to complain if they feel their rights are breached. If the issue is not handled internally by your financial provider, you can complain to the independent organizations set apart to tackle financial issues. 

ESMA regulations also have measures that protect investor rights, such as limits on leverage retail traders can access, especially for volatile markets. 

(Risk warning: 76% of retail CFD accounts lose money)

Is forex trading legal in Ireland? 

flag of Ireland

Forex trading is legal in Ireland, and forex brokers can register a trading account on local forex brokers and financial institutions. They can also register a trading account on offshore forex brokers regulated by accredited institutions in The European Union. 

The Central bank of Ireland has the mandate to regulate the financial sector in Ireland such that forex traders have a secure and transparent trading environment.

How to trade forex in Ireland – Tutorial

Open an account for Ireland traders

Opening an account for Ireland traders

Open a trading account by finding a forex broker that accepts traders from Ireland. Ensure to check if the forex broker is licensed to operate in Ireland by checking its license number on the regulatory body’s website. 

You should research the forex broker’s trading features, such as trading instruments, trading costs, platforms, demo accounts, and customer care. Register a trading account on the forex broker with the online registration form. 

The form is mostly found on the websites of forex brokers, and they require you to fill in your details. Due to the AML/CFT regulation, forex brokers will require you to verify these details by sending your national Identification card and utility statement softcopy. 

Download a trading platform to access the financial markets, and you can customize the trading platform according to your trading objectives and the financial market you want to access. 

Start with a demo or real account

Opening a real or demo account with IQ Option

The demo account uses virtual; funds and offers the same trading conditions as the real account. You can start trading on the demo account if you have no previous experience trading and practice new trading strategies. Forex brokers offer virtual funds of up to $50,000, which allows you to practice any asset. 

The demo account is also used when the trader wants to test the trading features of the trading platform without risking funds. It is a crucial tool for new traders who are starting to trade as they can use it to learn before risking real funds on the real account. 

Deposit money 

Depositing money with IQ Option

Forex brokers, especially those that offer international services to many countries, support various payment methods. Traders can move to the deposit or withdraw section of the forex broker to find the payment methods that the forex broker support. 

If you have a bank account, credit/debit cards, or an account on digital wallets such as PayPal, you can link them to your trading account. Deposit the capital you want to trade with, and you can start trading if you are already prepared. 


The payment methods depend on your country of residence. Forex Brokers offer all kinds of methods separately for each country.

Use analysis and strategies 


There are many ways you can analyze the market, but the most used method in forex is using fundamental or technical analysis. Market experts have developed them, and there are various ways you can apply price action to predict the movements of the prices. 

Technical analysis involves applying technical indicators such as the MACD, moving average, Stochastics, trend lines, support and resistance levels, and technical indicators. These technical indicators help traders know the market’s liquidity, trend direction, volatility, and momentum. These factors enable a trader to know the best opportunities to open a trading position. 

Fundamental analysis requires the trader to monitor the factors that cause volatility. These factors help the trader anticipate when the market prices will have a lot of activity. Some of the factors to monitor are the interest rate changes related to the asset you are trading, financial events on the economic calendars, and economic and political policies that could affect the prices of commodities. 


Trading strategies that forex traders from Ireland can use include:

Capital.com - Trend trading explanation

Trend trading – this trading strategy needs the trader to use technical analysis to find the direction of the trend. Traders then trade the trend according to its direction. This trading strategy requires you to monitor the market conditions to know when the prices might change direction and exit. 

Capital.com - Scalping

Scalping – this trading strategy needs the forex broker to have a strict exit strategy and works by trading the small spikes in the prices. The spikes could last from thirty seconds to one minute. The trader makes profits by making numerous small traders within a certain period. 

Capital.com - Day Trading

Day trading – works like scalping, but the trading positions could take longer than one minute. Day trading is a trading strategy used by traders who trade full-time. Traders open many trading positions and close them at the end of the day, and they can find the total they have made at the end of the day. 

Capital.com - Momentum indicator formula

Momentum trading – it is a trading strategy where traders use technical analysis to know the momentum of the market. If the momentum is strong, traders can open positions, but traders have to exit the trade if it is declining. 

Make profit 

Traders can profit from trading by practicing their trading strategies and having an entry and exit plan for the trading strategy. If you are trading a volatile market, limit the risk by employing risk management tools such as stop-loss. 

Ensuring you know how much you are willing to risk and doing a cost-benefit analysis before trading is also imperative. Analyze the market conditions and follow your trading strategy during a trade. Another tip is to avoid making trading decisions during the trade as the market movement could influence it, and most of the time, it is always wrong. 

(Risk warning: 76% of retail CFD accounts lose money)

Conclusion: The best Forex Brokers are available in Ireland

In the past five years, forex trading in Ireland has grown in volume, and traders can now access the financial markets using offshore forex brokers. The bank of Ireland has secured the forex trading industry by placing policies that protect investor protection and ensure a transparent trading environment. 

Traders can also ensure a smooth trading process by registering accounts on forex brokers regulated in Ireland or by offshore regulators well-known in the forex industry. 

FAQ – The most asked questions about Forex Broker Ireland :

What Varieties Of Spreads Are Available From Ireland Forex Brokers?

Fixed and floating spreads are both available at trading venues that accept customers from Ireland. The spreads are included in each Forex broker’s range of available markets.

It would be ideal for checking the spreads offered by several trading platforms that accept customers from Ireland so that you can select the one that provides the most affordable forex rates.

Is It Legal To Trade Binary Options In Ireland?

No, it is currently against the law for licensed brokers in Ireland to offer binary options to retail clients in this market. 

According to the regional authority, the Central Bank of Ireland, these sophisticated derivatives are far too volatile for regular traders to handle. The prohibition attempts to safeguard novice investors from significant trading losses.

Do I Have Access To Any Other Educational Resources As An Ireland Forex Broker?

Yes, many significant brokerages on the Irish market provide instructional resources to give new traders a head start and aid in expanding their knowledge. 
Some brokers give in-depth films or free online webinars about the various facets of foreign currency trading in addition to helpful literature about those topics. 

In terms of experience, opening a demo account and practicing with fictitious credits until you feel prepared to make a real investment would be the ideal approach to advance that.

Last Updated on June 1, 2023 by Andre Witzel