10 Best Finansinspektionen & ESMA Regulated Forex Brokers in Sweden (2025)

Best ESMA Regulated FX & CFD Broker in Sweden (SE)

Sweden maintains one of Europe's most advanced and transparent financial markets, with Finansinspektionen (FI) serving as the country's premier regulatory authority. Operating within the European Securities and Markets Authority (ESMA) framework, Swedish traders benefit from robust investor protection, competitive pricing, and access to cutting-edge trading technology.

This comprehensive guide examines the top 10 ESMA-regulated brokers serving the Swedish market in 2025, highlighting their regulatory compliance, trading conditions, and suitability for different trader profiles.

ESMA & Finansinspektionen Regulatory Framework

ESMA establishes the regulatory standards that govern CFD and forex trading across all EU member states, including Sweden. Finansinspektionen, Sweden's financial supervisory authority, implements and enforces these guidelines to ensure market integrity and investor protection.

Key ESMA protection measures for retail traders include:

• Leverage Limits: 30:1 for major forex pairs, 20:1 for minor pairs and gold, and lower for other assets.
• Negative Balance Protection: Ensures traders cannot lose more than their account deposit.
• Margin Close-Out Rule: Brokers must close positions if equity drops to 50% of the required margin.
• Ban on Bonuses: Prohibits promotional incentives that could encourage reckless trading.

Swedish Tax Considerations

Profits from CFD and forex trading in Sweden are subject to capital gains tax at a rate of 30% on investment income. Swedish traders must report their trading profits as capital income (kapitalinkomst) in their annual tax return. Losses can generally be offset against other capital gains within the same tax year.

Top 10 FX & CFD Brokers in Sweden

Here is a detailed breakdown of the leading brokers, assessing their core offerings, strengths, and potential drawbacks for Swedish traders.

1. INFINOX

INFINOX Broker Details

Founded in London in 2009, INFINOX is the best CFD broker in Sweden, combining award-winning technology with highly competitive trading conditions under the ESMA framework. The broker's key advantage lies in its versatile account structure: a zero-commission STP account for straightforward trading and a raw-spread ECN account for professionals.

INFINOX distinguishes itself with the proprietary IX Social platform, a leading-edge copy trading solution that enables traders to learn from and replicate the strategies of market experts. With robust regulatory oversight and a commitment to innovation, INFINOX provides a secure and powerful environment for traders at all levels.

Regulatory Transparency: In January 2025, the FCA issued INFINOX a fine related to historic transaction reporting failures. The matter was resolved promptly, and the broker has since strengthened its reporting systems. INFINOX remains in full compliance with all regulatory obligations and continues to operate with the highest standards of client protection and market integrity.

Key Pros

• Strong multi-jurisdictional regulation including the FCA.
• Offers a true zero-commission trading account, providing excellent value.
• Advanced proprietary social and copy trading platform (IX Social).
• High leverage options are available for eligible professional clients.

Key Cons

• The total range of instruments is more focused on major markets compared to brokers with tens of thousands of assets.

2. eToro

eToro Broker Details

eToro has revolutionized online trading with its innovative social trading platform, making it one of the world's most recognized brokerages. Operating under CySEC regulation for European clients, eToro allows Swedish traders to copy the portfolios of successful investors automatically through its CopyTrader feature. With over 30 million users globally, the platform combines traditional trading with social networking elements.

The broker offers commission-free trading on real stocks and a vast selection of cryptocurrencies alongside CFDs on forex, commodities, and indices. eToro's user-friendly interface makes it particularly appealing to beginners, while its extensive community features provide valuable learning opportunities.

Key Pros

• Industry-leading social trading platform with millions of active users.
• Commission-free trading on real stocks and ETFs.
• Highly intuitive platform designed for traders of all experience levels.
• Extensive cryptocurrency offering.

Key Cons

• Spreads can be wider than dedicated ECN brokers.
• Does not support MetaTrader platforms.

3. XTB

XTB Broker Details

XTB is a premium choice for Swedish traders, being directly registered with Finansinspektionen and publicly traded on the Warsaw Stock Exchange. The broker's standout feature is its offering of 0% commission on real stocks and ETFs (up to €100k/month), combined with a comprehensive CFD suite. Its award-winning proprietary platform, xStation 5, is celebrated for its intuitive design, advanced charting tools, and integrated market analysis, making it an excellent all-in-one solution.

XTB has earned numerous industry awards for its platform innovation and customer service, demonstrating a strong commitment to trader satisfaction. The broker also provides extensive educational resources, including webinars, trading courses, and market analysis.

Key Pros

• Directly registered with Sweden's Finansinspektionen.
• 0% commission on real stocks and ETFs up to €100k monthly turnover.
• Award-winning, highly intuitive xStation 5 platform.
• Excellent educational resources and customer support.

Key Cons

• Does not offer the popular MetaTrader platforms.
• Spreads on forex CFDs are slightly wider than pure ECN brokers.

4. First Prudential Markets

First Prudential Markets Broker Details

First Prudential Markets (FPM) is a Cyprus-based broker known for its straightforward approach to forex and CFD trading. Operating under CySEC regulation, FPM offers Swedish traders access to both MetaTrader 4 and MetaTrader 5 platforms with competitive spreads and zero commissions on standard accounts. The broker focuses on delivering transparent pricing and reliable execution.

FPM's strength lies in its simplicity and focus on core forex and commodity markets, making it suitable for traders who prefer a no-frills trading environment. The broker provides dedicated customer support and educational materials to help traders develop their skills.

Key Pros

• Clean, straightforward trading environment without unnecessary complexity.
• Both MT4 and MT5 platforms available.
• Zero commission on standard account with competitive spreads.
• Strong focus on customer support and education.

Key Cons

• More limited instrument selection compared to larger brokers.
• Not directly registered with Finansinspektionen.

5. Saxo Bank

Saxo Bank Broker Details

Founded in Copenhagen in 1992, Saxo Bank is a full-service investment bank offering trading in forex, stocks, CFDs, bonds and more. The bank holds a Danish banking licence and is regulated across multiple jurisdictions, offering Swedish traders access under the EU/ESMA framework. Swedish residents can open accounts with Saxo Bank and benefit from high regulatory standards and broad instrument access.

Key Pros

• Multi-asset offering: access to forex, stocks, bonds and derivatives in one account.
  
  
• Robust regulation: Danish bank-licence provides strong investor protection.
  
  
• Advanced proprietary platforms (SaxoTrader GO / PRO) with integrated research and tools.
  
  
• Transparent fee structure with comprehensive schedule of commissions and charges. 

Key Cons

• Minimum deposit level higher compared to some entry-level brokers.
  
  
• Spreads from ~0.9 pips are competitive but not the tightest in the ECN-focused market.
  
  
• Platform complexity may present a steeper learning curve for novice traders.

6. Skilling Ltd

Skilling Ltd Broker Details

Skilling is a modern, Scandinavian-focused broker that has gained significant popularity among European traders since its launch. Operating under CySEC regulation, Skilling offers its proprietary Skilling Trader platform alongside cTrader and MetaTrader 4, providing Swedish traders with excellent platform flexibility. The broker's clean, minimalist design reflects Nordic aesthetic principles.

Skilling's proprietary platform features an intuitive interface with advanced charting tools, economic calendar integration, and one-click trading. The broker also offers a unique "Copy Trading" feature, allowing users to replicate the trades of experienced investors.

Key Pros

• Modern, user-friendly proprietary platform with Nordic design sensibility.
• Excellent platform variety including cTrader.
• Competitive spreads and transparent pricing structure.
• Copy trading functionality available.

Key Cons

• Relatively newer broker compared to established competitors.
• Not directly registered with Finansinspektionen.

7. BlackBull Markets

BlackBull Markets Broker Details

BlackBull Markets is a New Zealand-based broker with a strong reputation for institutional-grade ECN trading conditions. The broker offers Swedish traders access to an exceptional range of over 26,000 instruments, including an extensive selection of stock CFDs. BlackBull's ECN Prime account delivers raw spreads from 0.0 pips with highly competitive commissions.

The broker stands out with its support for multiple professional platforms including TradingView integration, making it ideal for technical traders. BlackBull also offers cryptocurrency deposit options and supports algorithmic trading through VPS hosting services.

Key Pros

• Massive selection of 26,000+ tradable instruments.
• True ECN execution with ultra-low spreads from 0.0 pips.
• Excellent platform variety including TradingView integration.
• Supports cryptocurrency deposits.

Key Cons

• Primary regulation outside EU (FSA Seychelles).
• May require higher deposits for premium account features.

8. CMC Markets

CMC Markets Broker Details

CMC Markets is a highly established UK broker with over 30 years of industry experience and publicly traded on the London Stock Exchange. Operating under FCA regulation, CMC offers Swedish traders access to its sophisticated proprietary platform alongside MetaTrader 4. The broker provides one of the industry's widest selections of instruments with over 12,000 markets.

CMC's Next Generation platform is renowned for its professional-grade charting tools, pattern recognition software, and integrated Reuters news. The broker also offers spread betting (for eligible jurisdictions) and maintains exceptionally high standards of research and analysis.

Key Pros

• Established, publicly traded company with strong financial backing.
• Exceptional proprietary platform with advanced analytical tools.
• Vast selection of over 12,000 instruments.
• Award-winning research and market analysis.

Key Cons

• Platform can have a learning curve for beginners.
• Not directly registered with Finansinspektionen.

9. AvaTrade

AvaTrade Broker Details

AvaTrade is a globally recognized broker regulated by the Central Bank of Ireland, offering Swedish traders a comprehensive suite of trading platforms and educational resources. The broker is particularly notable for its extensive educational program, AvaAcademy, which provides courses, webinars, and trading guides suitable for all experience levels.

AvaTrade offers unique platforms including AvaOptions for options trading and DupliTrade for automated copy trading. The broker also provides excellent mobile trading solutions through its AvaTradeGO app, which has won multiple awards for user experience.

Key Pros

• Strong regulation by the Central Bank of Ireland.
• Extensive educational resources through AvaAcademy.
• Unique platform offerings including options trading.
• Excellent mobile trading experience.

Key Cons

• Spreads are wider than ECN-focused competitors.
• May charge inactivity fees after prolonged periods.

10. EightCap

EightCap Broker Details

EightCap is an Australian broker that has expanded its presence in Europe, offering Swedish traders competitive ECN pricing and seamless TradingView integration. The broker's Raw Account provides access to institutional-grade spreads from 0.0 pips with transparent commission pricing. EightCap places strong emphasis on trading technology and has developed proprietary tools to enhance the MT4/MT5 experience.

The broker offers unique features including free VPS hosting for active traders and extensive educational content through its EightCap Labs program. EightCap also provides excellent execution speeds with servers located in major financial centers.

Key Pros

• True ECN pricing with spreads from 0.0 pips.
• Seamless TradingView platform integration.
• Free VPS hosting for eligible accounts.
• Strong focus on trading technology and execution quality.

Key Cons

• Primary regulation outside EU (ASIC Australia).
• Instrument selection smaller than some competitors.

How to Choose the Best Forex Broker for Your Needs

Selecting the right broker is a personal decision that depends on a trader's strategy, experience level, and financial goals. Industry experts suggest evaluating brokers based on a few core principles.

Prioritize Finansinspektionen & ESMA Regulation: The safety of funds is non-negotiable. Always choose a broker that is either directly registered with Finansinspektionen (like XTB) or fully compliant with ESMA rules via another top-tier EU regulator like CySEC. A globally respected regulator like the UK's FCA or Ireland's Central Bank also signifies high safety standards. A broker like INFINOX, with FCA oversight, demonstrates a commitment to client protection, including segregated funds and negative balance protection.

Analyze the Full Cost of Trading: It is important to look beyond advertised spreads. Traders should consider commissions, overnight swap fees, and any potential inactivity charges. A zero-commission account, such as the INFINOX STP account, can offer significant value and simplicity, while an ECN account may be more cost-effective for high-volume trading. Swedish traders should also factor in currency conversion fees if depositing in SEK.

Assess the Trading Style: A trader's approach is paramount. For example, a scalper needs the fast execution and low costs of BlackBull Markets or EightCap, while an investor might prefer the 0% stock offering from XTB or eToro. For those new to the markets, a broker with a strong social trading platform like IX Social or eToro's CopyTrader might be a perfect fit.

Evaluate Platforms and Tools: The trading platform is the trader's gateway to the markets. It is crucial to test a broker's platform through a demo account to ensure it is stable, intuitive, and equipped with the necessary tools. INFINOX provides both the industry-standard MT4/MT5 and its innovative IX Social and IX SYNC platforms to cater to diverse needs. Swedish traders should also consider whether they prefer proprietary platforms like xStation 5 or standard platforms like MetaTrader.

Ultimately, the best broker is one that aligns with a trader's journey. By offering a blend of competitive costs, advanced technology, and unwavering support, INFINOX positions itself as a trusted partner in the financial markets.

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