10 Best Forex Brokers in Ukraine in 2024 (Expert Picks)

The Forex market in Ukraine is thriving, and there are many Forex brokers available to choose from. Choosing the right Forex broker can be a challenging task, as there are many factors to consider such as regulation, trading platforms, account types, and customer support. 

In this article, we will highlight the best Forex brokers in Ukraine, taking into account their regulation, trading conditions, and customer feedback. Whether you’re a seasoned trader or just starting out, these Forex brokers will provide you with the tools and support you need to succeed in the dynamic world of currency trading.

A list of Top Forex Brokers in UKraine ?

If you’re looking for a reliable Forex broker in Ukraine, look no further than our list of the top ten. We’ve taken into account factors such as reputation, regulatory compliance, trading experience, customer support, and more to compile a comprehensive list of the best options available.

• Icmarkets
• Pepperstone
• Etoro
• XM
• Exness
• Oanda
• FBS
• Hotforex 
• Eightcap
• FXTM

Comparison of Best forex Brokers in UKraine

Best Forex Brokers in UKraine Reviewed

ICmarkets.com – Best for Tight Spread

IC Markets is a leading regulated forex broker founded in 2017. The broker offers tight spreads on its trading platform, which includes the popular MetaTrader 4, MetaTrader 5, cTrader and web and mobile-based trading platforms. IC Markets is based in Australia and provides traders with access to over 60 currency pairs, indices, commodities, metals, and more. The broker is committed to providing a secure and transparent trading environment for its users, backed by its stringent regulatory framework.

IC Markets is an excellent choice for traders looking for a reliable broker, as they offer a wide range of trading instruments such as currencies, cryptocurrencies and CFDs. Additionally, they allow trading with EAs and robots, as well as scalping and news trading, making them an ideal choice for any type of trader. They also provide MAM accounts for those who need them, but do not offer PAMM accounts. For those interested in social trading, IC Markets also supports Zulutrade, making it an ideal choice for a wide range of traders.

Our Ratings

Pros:

• Low spreads and fees 
• Regulated by ASIC in Australia 
• Offers a wide range of tradable instruments 
• Variety of trading platforms 
• Dedicated customer support 

Cons:

• No Islamic account option 
• Limited payment methods available

Pepperstone.com — For Islamic Account

Pepperstone is a regulated broker based in Australia, established in 2010. They are best known for their Islamic Account, which allows traders to trade without any interest or swap being charged for overnight positions. They offer a wide range of trading platforms, including MT4, MT5, cTrader, DupliTrade, and TradingView, giving traders a wide variety of tools and features to choose from. With their competitive fees and trading conditions, Pepperstone is a great choice for all types of traders.

Pepperstone is a great broker for all types of traders. It offers a wide range of trading instruments such as 60+ currencies, 20+ cryptos, and 1200+ CFDs. Traders can also use automated trading strategies, scalping, and news trading. Additionally, Pepperstone offers MAM and PAMM accounts, as well as copy trading, so traders can benefit from the knowledge of more experienced traders. All in all, Pepperstone is an excellent broker for all types of traders.

Our Ratings

Pros:

• Low minimum deposit requirement. 
• Competitive spreads and fees. 
• Excellent customer service and support. 
• Reliable and secure trading platform. 
• Comprehensive range of trading solutions. 

Cons:

• Limited selection of currency pairs available. 
• Limited range of educational resources.

Etoro.com – Best for Social Copy Trading

Etoro is a regulated broker based in the United Kingdom, established in 2007. It is best known for its social copy trading feature which allows traders to copy the strategies of experienced traders. It offers a user-friendly eToro trading platform, which is designed for both experienced and novice traders. With its advanced trading features and social trading environment, Etoro offers an efficient and reliable trading experience to its clients.

Etoro is a popular online broker offering a wide range of trading instruments, with over 45 currencies, 55+ cryptos, and 2815+ CFDs available for trading. Additionally, Etoro provides the option to copy successful traders, allowing novice traders to benefit from the knowledge and expertise of experienced professionals. However, the company does not allow the use of robots or automated trading strategies.

Our Ratings

Pros:

• User friendly platform with intuitive design 
• Low minimum deposit requirement 
• Wide range of trading instruments 
• Comprehensive educational resources 
• Highly competitive spreads 

Cons:

• Limited customer support 
• Low leverage compared to other brokers

XM.Com – For Flexible trading

XM is a regulated broker based in Cyprus, established in 2009. It offers flexible trading options to its clients through its MT4 and MT5 trading platforms. XM is renowned for its trusted services, reliable execution and wide range of instruments. It offers a wide range of trading account types, including micro, VIP and standard, and allows traders to access the global markets with tight spreads and no hidden fees. XM is a great choice for both beginner and experienced traders looking for a reliable and reputable broker.

XM is a broker which provides a wide range of trading instruments, including 55+ currencies, 30+ cryptos, and 940+ CFDs. They allow trading with EAs and robots, scalping, and news trading. Additional facilities such as MAM accounts are allowed, but PAMM accounts are not. Zulutrade Social Trading is also allowed, enabling traders to copy the strategies of experienced traders.

Our Ratings

Pros:

• Low minimum deposit requirement of just $5 
• Low cost trading fees and competitive spreads 
• A wide range of tradable assets such as currencies, indices, commodities and stocks 
• Comprehensive educational resources to help traders learn the ropes
• Regulated by multiple financial authorities 

Cons:

• Limited customer service options 
• Possibility of slippage during volatile market conditions

Exness.com — For Instant withdrawal

Exness is a regulated broker established in 2008 and based in Seychelles. It is best known for its instant withdrawal feature and offers its clients a wide range of trading platforms, such as MT4 and MT5. Exness provides its traders with a safe and secure trading environment, and its customer service is among the best in the industry. With its great features, Exness is a great option for both novice and experienced traders.

Exness is a broker that offers a wide range of trading instruments, including 95+ currencies, 5+ cryptos, and 130+ CFDs. It is a great choice for traders who use automated trading strategies, as it allows the use of Expert Advisors and robots. Scalping and news trading are also allowed. In addition, the broker offers copy trading to help traders expand their trading opportunities.

Pros:

• Low spread rates 
• Variety of trading platforms 
• Leverage up to 1:2000 
• Seamless deposits and withdrawals 
• 24/5 customer service 

Cons:

• Limited range of financial instruments 
• Limited educational material for traders

Oanda.com — Most Trusted

Oanda is one of the most trusted online brokers in the world. Established in 1996, the broker is based in the United States and is regulated by the relevant authorities. Oanda offers a wide range of trading platforms for its clients, including MT4, MT5, WebTrader, NinjaTrader, MotiveWave, MultiCharts, and TradingView. With its user-friendly and secure trading platforms, Oanda provides an ideal trading experience for both beginners and experienced traders.

Oanda is a well-established, regulated broker based in the United States that has been in operation since 1996. It offers a variety of trading platforms, including MT4, MT5, WebTrader, NinjaTrader, MotiveWave, MultiCharts, and TradingView. Oanda is well-known for being one of the most trusted brokers in the industry, and it offers a secure and reliable trading environment for both novice and experienced traders.

Our Ratings

Pros:

• Low minimum deposit requirement of only $1 
• Low spreads and competitive trading fees 
• Regulated by a number of financial authorities 
• Variety of trading instruments available 
• Education materials and resources available 

Cons:

• Limited customer support options 
• Limited range of research tools and analysis capabilities

FBS.com —- For High Leverage

FBS is a regulated Forex broker which was established in 2009. It provides its traders with the best trading conditions for high leverage trading. FBS offers a wide range of trading platforms such as MT4, MT5 and FBS Trader. It is based in Belize and is a reliable broker for traders looking for a regulated broker with high leverage.

FBS is a broker offering a wide range of trading instruments, with more than 35+ currency pairs and 3 CFDs. This broker allows the use of Expert Advisors and Scalping, as well as News Trading, so traders can make the most of their strategies. With FBS, traders have access to a wide range of trading instruments and conditions, making it a suitable broker for any type of trader.

Our Ratings

Pros:

• FBS is a reliable and regulated broker that is authorized and regulated by CySEC and the IFSC. 
• It offers customer support in more than 15 languages, including English, Spanish, French, German, Italian, Portuguese, and Chinese. 
• FBS offers a wide range of account types, including ECN, Standard, Cent, Micro, and Zero Spread. 
• It offers a variety of trading platforms, including the popular MetaTrader 4 and MetaTrader 5. 
• FBS offers generous bonuses and promotions to its clients. 

Cons:

• FBS charges a high commission on its ECN accounts. 
• It does not offer as many trading instruments as other brokers.

Hotforex.com — For Trading instruments

Hotforex is a regulated broker established in 2010 based in Saint Vincent And Grenadines. It offers trading instruments on the MT4 and MT5 platforms. Hotforex is well known for providing a secure and reliable trading environment for traders around the world. They offer a wide range of trading instruments and products to suit individual needs. Hotforex also provides advanced trading tools and educational resources to help traders become more successful.

Hotforex is a broker that offers a wide range of trading instruments, including currencies, cryptos, CFDs, and more. With Hotforex, traders can use EAs or Robots, Scalping, and News Trading as well. In addition, Hotforex also offers a MAM account to its customers. All of these features make Hotforex an ideal broker for all types of traders.

Our Ratings

Pros:

• Competitive spreads and fees. 
• Variety of trading instruments and platforms. 
• Leverage of up to 1:1000. 
• Tight spreads and fast execution. 
• Variety of customer support options. 

Cons:

• Limited customer support in certain languages. 
• Limited deposit and withdrawal options.

Eightcap.com — Best for Trading Support

Eightcap is a regulated broker based in Australia and established in 2009. It is best known for its trading support and offers the industry-leading MetaTrader 4 and MetaTrader 5 platforms and the popular TradingView platform. Eightcap is a reliable broker with a strong commitment to its clients, providing an excellent selection of trading instruments, tight spreads and fast execution. With its competitive pricing, excellent customer service and range of trading tools, Eightcap is an excellent choice for traders of all levels.

Eightcap is a broker that offers extensive trading options for traders. They offer 45+ currency pairs, 300+ cryptos, and 800+ CFDs. Additionally, they offer great features like PAMM and MAM accounts, allowing traders to manage their investments in an efficient and effective manner. The broker also allows EA and robots, as well as scalping, making it a great choice for all types of traders.

Our Ratings

Pros:

• Wide range of markets and instruments to trade in, including currency pairs, indices, stocks, commodities and CFDs. 
• Low spreads and leverage up to 500:1. 
• Variety of account types to suit different trading needs and experience levels. 
• Automated trading through MetaTrader 4 Expert Advisors. 
• 24/7 customer service and support in multiple languages. 

Cons:

• Limited range of trading platforms. 
• No access to social trading.

FXTM.com — Best For Trading Conditions

FXTM is a leading online broker established in 2011 and based in Mauritius. They offer their clients a wide range of trading services with competitive trading conditions and the use of high-quality trading platforms such as MT4, MT5, and WebTrader. FXTM is a regulated broker and provides its clients with a secure trading environment and reliable customer support. With a strong focus on transparency and excellent trading conditions, FXTM is a great choice for traders of all levels.

FXTM is a popular broker that offers a wide range of trading instruments. It offers more than 55 currencies, 4 cryptocurrencies, and over 190 CFD instruments. The broker also allows for the use of EAs, scalping, and news trading. In addition, it offers the facility of a MAM account that allows traders to manage multiple accounts simultaneously. All in all, FXTM is a great choice for traders wanting to access a range of financial markets.

Our Ratings

Pros:

• Low minimum deposit requirements 
• Comprehensive trading platform options 
• High leverage up to 1000:1 
• Comprehensive educational materials and support
• Fast and reliable customer service 

Cons:

• Limited range of tradable products 
• High spreads in some cases

What is a Forex Broker?

A Forex broker is a dedicated financial intermediary crucial for individuals and businesses participating in currency trading within the vast global foreign exchange market. Serving as a vital link between traders and the dynamic realm of forex, these brokers provide online platforms for buying and selling various currencies. Opting for a reputable and regulated Forex broker is paramount to ensuring a secure and efficient trading experience, complemented by essential tools and analysis to navigate the intricacies of currency transactions within the expansive forex landscape.

Discover More : Understanding the Basics of a Forex Broker

What are the Most Trusted Forex Brokers in Ukraine ?

According to our research and broker ratings, Pepperstone, IC Markets, XM, and FBS emerge as the most reliable forex brokers for trading in Ukraine . These brokers are highly regulated by top regulators including FCA, ASIC, CySEC, BaFIN, DFSA, SCB and so on.  They also offer segregated client fund accounts with tire 1 banks. for example. Here are our trust score for the following brokers 

• Pepperstone : 9.4 
• IC Markets    : 9.3
• XM                : 9.3 
• FBS              : 9

What is the No 1 Forex Brokers in Ukraine

Based on our in-depth research and ratings, Pepperstone is the number 1 forex broker in Ukraine . The broker is not only popular in Ukraine  but also globally. Additionally, the broker is regulated under top-tier regulators worldwide, including FCA, ASIC, CySEC, and others. Pepperstone secures a score of 9.4 out of 10, the highest in our research

What are the Best MT4 Forex Brokers in Ukraine ?

Based on our in-depth research and test results, the best MT4 forex brokers in Ukraine are:

• IC Markets
• Pepperstone
• Eightcap
• Tickmill
• XM
• FBS

They offer thousands of trading instruments, including forex, crypto CFDs, stock CFDs, and indices.

What are the Best MT5 Forex Brokers in Ukraine ?

MT5 a multi-asset trading platform by MetaQuotes. It is second most popular forex trading platform in the world. Most of the forex brokers in Ukraine  offer MT5 Trading Platforms. According to our brokers research and ratings, the best MT5 Forex Brokers in the UK are 

• Pepperstone
• IC Markets 
• FBS 

MT5 perform allows traders to perform  technical analysis and trading operations in the Forex market

What are the Best ECN Forex Brokers in Ukraine?

Our findings and broker ratings show that the best ECN Forex brokers in Ukraine are 

•  Pepperstone 
•  IC Markets 
•  XM
•  FXTM 
•  Hotforex 

These brokers offer low trading fees. They also offer seamless deposit and withdrawal processing. Among the brokers, Pepperstone we ranked Pepperstone as No 1 forex brokers in the world

Which Forex Brokers are Best for Beginners in Ukraine ?

From our research, analysis, testing, and experience; XM, hotforex, FBS, and Exness are the best brokers for beginners in Ukraine . They all provide comprehensive training resources for newbies and also demo accounts for practice. When the newbies are ready for live trading, these brokers offer micro accounts which they can use to start experimenting with live trades at very little risk.

Which Forex Brokers Offer Copy Trading Platforms in Ukraine ?

The best forex brokers offering copy trading platforms in Ukraine include eToro, Pepperstone, IC Markets, and FBS, among others. Among these, eToro is renowned for its social copy trading. Moreover, you can use almost all forex brokers for copy trading purposes if they allow EA trading

Which Forex Brokers offer High Leverage in Ukraine ?

FBS is one of the highest-leverage forex brokers that offers services worldwide, including in Ukraine. FBS provides a 1:3000 leverage, allowing for up to $3000 in trading capital for every $1 risked. However, the leverage in the EU and the USA is fixed. In the EU and Australia, retail traders can take up to a 1:30 leverage, while US regulators allow a maximum 1:50 leverage for retail forex traders. Many brokers have multiple entities for traders in different countries. Here is a list of the highest-leverage forex brokers:

FBS.com : 1:3000

Exness.com : 1:2000

Hotforex : 1:1000

How Can I Trade Forex in the Ukraine ?

Educate yourself:

Before you start trading Forex, it’s important to educate yourself about the market, trading strategies, and risk management. You can find a wealth of information online, including Forex tutorials, webinars, and trading courses.

Choose a reliable Forex broker:

To trade Forex, you’ll need to choose a reputable broker that is licensed and regulated in Ukraine. Look for brokers that offer competitive spreads, low commissions, and a user-friendly trading platform.

Open a trading account:

Once you’ve chosen a broker, you’ll need to open a trading account. This typically involves filling out an application form, providing identification documents, and making a deposit.

Fund your account: After your account has been approved, you’ll need to fund it with money to start trading. Most brokers accept multiple payment methods, such as bank transfers, credit cards, and e-wallets.

Choose your trading platform:

Forex brokers offer different trading platforms, including desktop, web-based, and mobile apps. Choose the platform that best suits your needs and preferences.

Analyze the market:

To make informed trading decisions, you’ll need to analyze the Forex market using technical and fundamental analysis tools. This involves studying charts, economic indicators, news events, and other factors that can affect currency prices.

Place your trades:

Once you’ve analyzed the market and identified a trading opportunity, you can place your trade. This involves selecting the currency pair, choosing the amount you want to trade, setting stop-loss and take-profit levels, and executing the trade.

Monitor your trades:

After you’ve placed your trade, monitor it closely to see how it’s performing. You may want to adjust your stop-loss and take-profit levels if the market moves in your favor or against you.

Close your trades:

When you’re ready to close your trade, you can do so manually or automatically. If your trade reaches your take-profit or stop-loss level, it will close automatically. Alternatively, you can close the trade manually if you feel it’s necessary.

Withdraw your profits:

If your trade is successful, you can withdraw your profits from your trading account. Most brokers offer multiple withdrawal methods, such as bank transfers, credit cards, and e-wallets. Be sure to check the withdrawal fees and processing times before you make a request.

Different Types of Forex Brokers in Ukraine ?

Dealing Desk Brokers:

Dealing Desk brokers, also known as market makers, act as the counterparty to their clients’ trades. They take the other side of the trade, which means that if a client buys a currency pair, the broker sells it to them, and if the client sells a currency pair, the broker buys it from them. Dealing Desk brokers earn money from the spread between the bid and ask price and may also add markups to the spread.

No Dealing Desk Brokers:

No Dealing Desk brokers provide direct access to the interbank market and do not act as the counterparty to their clients’ trades. Instead, they pass their clients’ trades through to liquidity providers, such as banks and other financial institutions. No Dealing Desk brokers offer two main types of execution models:

a. Electronic Communication Network (ECN):

ECN brokers connect their clients’ trades to a network of liquidity providers, allowing them to access the best bid and ask prices available in the market. ECN brokers charge a commission on each trade, which is usually a fixed amount per lot traded.

b. Straight Through Processing (STP):

STP brokers also pass their clients’ trades through to liquidity providers but do not charge a commission. Instead, they earn money from the spread between the bid and ask price, similar to Dealing Desk brokers. STP brokers may also offer price improvement technology to ensure that clients receive the best available prices.

Types of Trading Platforms in Ukraine ?

Desktop Trading Platforms:

 Desktop trading platforms are software programs that are downloaded and installed on a computer. These platforms offer advanced charting tools, technical analysis indicators, and customizable trading strategies. Desktop platforms often have more features and capabilities than web-based or mobile trading platforms.

Web-Based Trading Platforms:

Web-based trading platforms are accessed through a web browser and do not require any installation or downloads. These platforms offer basic charting tools and order management features, making them suitable for beginner traders who are just starting out. Web-based platforms are also convenient for traders who need to access their trading account from multiple devices.

Mobile Trading Platforms:

Mobile trading platforms are mobile apps that allow traders to access their trading account and trade Forex on the go. These platforms offer basic charting tools, order management features, and push notifications for price alerts and news events. Mobile platforms are convenient for traders who need to monitor their trades and make quick decisions while away from their computer.

Social Trading Platforms:

Social trading platforms allow traders to copy the trades of other successful traders. These platforms offer a community-based approach to trading, allowing traders to follow and interact with other traders, share trading strategies, and learn from each other’s experiences. Social trading platforms are suitable for beginner traders who want to learn from experienced traders or for traders who want to diversify their portfolio.

How to Choose the Best forex Brokers in UKraine

Choosing the right Forex broker can make all the difference in your trading experience. Here are some key factors to consider when choosing the best Forex broker in Ukraine:

Regulation:

Make sure the Forex broker is regulated by a reputable financial authority, such as the National Bank of Ukraine or the Cyprus Securities and Exchange Commission (CySEC). This will ensure that your funds are secure and that the broker operates with transparency and fairness.

Trading conditions:

 Look for a Forex broker that offers competitive trading conditions, such as low spreads, fast execution, and a wide range of currency pairs. You should also consider the leverage offered, as well as the minimum deposit required to open an account.

Trading platforms:

Choose a Forex broker that offers a reliable and user-friendly trading platform. Some popular trading platforms include MetaTrader 4 and 5, cTrader, and WebTrader. Make sure the platform suits your trading style and provides the necessary tools and features for successful trading.

Account types:

Consider what type of Forex trading account you need. Some Forex brokers offer different account types, such as standard, VIP, or ECN accounts, each with different trading conditions and minimum deposit requirements.

Customer support:

Good customer support is essential, especially for new traders. Look for a Forex broker that provides 24/7 customer support, through multiple channels such as live chat, phone, and email.

Reputation:

Read reviews and testimonials from other traders to get an idea of the broker’s reputation. Consider factors such as reliability, customer service, and overall trading experience.

Frequently Asked Question (FAQs)

Is Forex Trading Legal in Ukraine ?

Forex trading is a popular activity among residents of Ukraine. While it’s recommended to trade with authorized brokers, it’s important to note that Forex brokers are not required to be authorized by the National Securities and Stock Market Commission (SSMCS) to accept residents of Ukraine as customers. 

Are Forex brokers in Ukraine regulated?

Yes, Forex brokers in Ukraine are regulated by the National Bank of Ukraine or other reputable financial authorities such as the Cyprus Securities and Exchange Commission (CySEC).

What type of trading account should I choose?

It depends on your trading goals and experience. Some Forex brokers offer standard, VIP, or ECN accounts, each with different trading conditions and minimum deposit requirements. Consider what type of account best suits your needs.

What is the best trading platform for Forex trading?

The best trading platform depends on the individual trader’s needs and preferences. Some popular trading platforms include MetaTrader 4 and 5, cTrader, and WebTrader. Make sure the platform you choose is reliable, user-friendly, and provides the necessary tools and features for successful trading.

Is it safe to trade Forex in Ukraine?

Trading Forex with a regulated and reputable broker can be safe. However, Forex trading does carry risk, so it’s important to carefully consider your investment goals and risk tolerance before starting to trade.

Can I start Forex trading with a small amount of money?

Yes, some Forex brokers offer the option to start trading with a small deposit. However, it’s important to keep in mind that the amount of capital you have to trade with will affect your potential profits and losses.

By considering these FAQs, you can get a better understanding of Forex brokers in Ukraine and what to look for when choosing the right one for you.

Conclusion

Forex trading in Ukraine offers many opportunities for traders to make profits from currency movements. Choosing the right Forex broker is essential for a successful and enjoyable trading experience. Consider factors such as regulation, trading conditions, trading platforms, account types, customer support, and reputation when choosing the best Forex broker for you. By taking the time to carefully research and compare Forex brokers, you can increase your chances of success in the Forex market.