Best FOREX Brokers in France 2022

With the number of FOREX traders continuing to rise, FOREX companies are increasingly focusing on customer retention, thereby securing improved revenues and higher profitability. Traders, mostly concerned about the relatively high risks involved in FOREX trading, will need all the guidance they can obtain to avoid questionable brokers altogether. In what follows, we will first list the best FOREX Brokers in France today in a table. This table is based on the findings of a comprehensive study conducted in-house at Arincen, the methodology for which, including how and why we chose these companies specifically, will be discussed in more detail below.

Best FOREX Brokers 2022

Open account

Company name	FXDD
Regulations	FCA
Minimum deposit	$450
Main branch	United States of America

Open account

Company name	ICM capital
Regulations	FCA
Minimum deposit	500$
Main branch	United Kingdom

Open account

Company name	XTB
Regulations	FCA
Minimum deposit	400$
Main branch	United Kingdom

Open account

Company name	ig markets
Regulations	FCA
Minimum deposit	250$
Main branch	United Kingdom

 

We will then outline what traders would need to take into account when choosing a brokerage house. The section is broken up into five sub-sections, each helping traders achieve the peace of mind that Arincen can give.  

1. Trustworthiness.

2. The Dos and Don’ts of FOREX Companies.

3. Technical Aspects of the Website.

4. Spread Differences, Extra Commissions, and Commission-Free Accounts.

5. Customer Service.

In France, like in other countries, trading FOREX currencies is growing in popularity. Even though any FOREX broker authorized in the EU can accept clients from France, it is an added benefit if they also become authorized by the Autorite Des Marches Fianciers (AMF), which is the financial regulatory body in France. The AMF can be found online at the following URL: www.amf-france.org, and can also be followed on Twitter, @AMF_actu.

The AMF, established into law by the Financial Security Act of August 1, 2003, was the result of a merger between three national regulatory bodies. As a member of the EU, France's AMF includes, among other things, MiFID regulation. For a historical breakdown, please visit the Autorite Des Marches Fianciers's Web Page on Wikipedia.

 

How to Verify AMF Authorization

To ascertain if a FOREX broker is regulated as an investment service provider (ISP) by the AMF and administered by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), step number one would be to identify the register number from the disclosure text at the bottom of the broker's homepage. For example, here is the key disclosure text from FXDD's Website,

“FXDD Malta Limited holds an Investment Service Category 3 License and is regulated by the Malta Financial Services Authority (MFSA) of Notabile Road, Attard, Bkr3000, Malta MFSA IS/48817.”

Step number two would be to look up the firm name on the financial register (REGAFI), available on the Bank of France's Website, to confirm its current status, such as its ability to provide cross-border services or operate a branch office.

In this introduction, we took a look at the best FOREX brokers in France. We began by identifying the best five FOREX brokers in the country, listing and ranking them by their Arincen trustscore. We then briefly described the regulatory environment governing these companies (more on this later in the article). Finally, we advised readers how they should go about ensuring that the broker into which they are looking is licensed by a tier-1 regulator and, therefore, deemed trustworthy.

What is FOREX and Why Do We Need a Broker?

The FOREX market is the largest financial market in the world at some six trillion dollars daily, only followed by the credit market. The market operates 24 hours a day and five days a week (Monday through Friday), except international holidays. Brokerage firms play a key role in this regard by enabling clients to buy and sell through a trading platform. This could be done either on a personal computer (PC) or, more recently, by using one’s own smartphone.

 

How to Pick the Best Forex Broker; Why Arincen

Trustworthiness

At the get-go, it is important to learn more about regulatory bodies and their role in the FOREX market. These are government entities charged with regulating the sector. Their role is two-fold:

1. Observing and regulating the work environment in the FOREX market; and
2. Protecting investors and their funds.

FOREX firms must at least obtain one license from a relevant regulatory authority. Otherwise, they should be avoided at all times. In this context, we present the five most important FOREX market regulatory bodies from around the world.

1. The Financial Conduct Authority (FCA), UK;
2. The Swiss Financial Market Supervisory Authority (FINMA);
3. The Australian Securities and Investments Commission (ASIC);
4. The Financial Markets Authority, New Zealand; and
5. The National Futures Association (NFA), US.

While FOREX market regulatory bodies exist in almost every country, these are the most important five and also the strictest. To learn more about other regulatory bodies, please visit Arincen.com, where you will find a comprehensive global database.

The Dos and Don’ts of Brokerage Companies

One of the first things a new FOREX trader ought to do is to check the extent to which the FOREX company abides by the rules and regulations governing its operation. Emphasis must be placed on what it can and cannot do.

There are seven things brokerage firms cannot do:

1. The FOREX brokerage firm cannot recommend a buy or sell;

2. The FOREX brokerage firm must not provide price or market expectations (rise/fall);

3. The FOREX firm cannot control your financial dealings (deposit/withdrawal);

4. The FOREX brokerage firm should not “manage” your portfolio under any circumstance;

5. The FOREX brokerage firm cannot grant a client a bonus unless there are clear terms guiding it from beforehand;

6. The brokerage firm must not use bank accounts not under its name; and

7. FOREX brokerage firms cannot have or offer the service of account managers.

In short, the role of brokerage firms is strictly confined to facilitating buyers and sellers to come together toward an agreed-upon commission. FOREX brokerage firms that violate any of the seven rules aforementioned should be avoided. However, should the trader wish to to receive any of the above-mentioned services, our advice is to seek an expert Website, like Arincen, something we will delve into toward the end of this article.

Technical Aspects of the Website

When it comes to sharing sensitive personal information online, such as a credit card, cyber security is paramount. You should, therefore, always look out for SSL certification and two-factor authentication (especially when registering with a new site).

To provide our users with peace of mind, we at Arincen have introduced the “Company Checker,” which is an online tool directly linked to an international Website called Scamadviser. The latter is an independent site that checks the countries in which these FOREX Websites are managed, where the server is located, in addition to other security and informational aspects. It ranks FOREX firms by granting them a score ranging from 0% to 100%, with the best FOREX firms usually receiving a score of 90% and above. Any company that has achieved a score lower than 85% should thus be avoided. Simultaneously, whenever looking for a new FOREX company, users must ensure its Website is fast, modern and user-friendly.

Spread Differential, Extra Commissions and Commission-Free Accounts

A first step in FOREX trading is identifying the spread differential, defined as the difference between the bid (sell) price and the ask (buy) price of a currency pair. While most FOREX currency pairs are traded without commission, the spread is one “cost” that applies to any trade that you place. This is, indeed, the biggest source of profit for the FOREX company. Good companies typically offer a EUR-USD spread of three basis points.

As for commissions, FOREX trading companies can be placed in three categories. The first offer fixed spreads, while the second tender variable spreads, with a third category of companies offering low-cost spreads but that come with a (relatively high) fixed commission.

Customer Service

As timing is key to FOREX trading, you must pick a brokerage firm that is able to provide good customer support around the clock. This most notably includes the company representatives being easy to reach, fast and polite, which will, in turn, spare you of having to worry about problems down the road.

Ranking Best Trading Brokers By Category

1. FXDD 92.15 Best Overall Broker

2. ICM Capital 91.10 Best Deposit and Withdrawal Broker

3. XTB 85.55 Best Customer Service Broker

4. IG 85.45 Best Regulations Broker plus Convenient Platform

5. Ducascopy 80.1 Best Bank

6. Saxobank 80.09 Excellent Private Trading Platform

7. CMC Markets 80.07 More than 9,000 Assets

8. Think Markets 80.05 Aimed at the Audience of Traders

9. Forex.com 79.2 First Broker

10. FXCM 78.65 Best Worldwide Offices

11. Swissquote 78.3 Sponsor of Manchester United

 

ICM capital Broker

ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.

Mediator Rating	9.11
Regulators	FCA
Minimum Deposit:	500$
Islamic account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch:	United Kingdom
Customer support	24/5
Demo account	not
Trading Platforms	MT4 - MT5 - C TRADER -Web Platform

Pros

• Segregated client funds.

• Regulated by the UK’s FCA.

• Established in 2009.

• More than 10,000 ICM Capital users and traders.

• Reasonable minimum deposit from $200.

• Decent funding options.

• No swaps.

• MetaTrader4 (MT4) desktop and mobile download.

Cons

• Does not allow scalping.

• Not ASIC-regulated.

• Relatively limited range of instruments.

• Slow live-chat service.

• Relatively high trading fees.

• Limited range of trading tools and resources

Open account

XTB Broker

What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.

Mediator Rating	8.55
Regulators	FCA
Minimum Deposit:	400$
Islamic account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch:	United Kingdom
Customer support	24/5
Demo account	yes
Trading Platforms	MT4 - MT5 -Web Platform

Pros

• Long history of operation.

• Globally recognized, having won multiple awards.

• Some of the lowest FOREX spreads in the market.

• Regulated by the FCA (UK).

• Offers protection for client accounts.

• Emphasis on customer service.

• Excellent support, learning and research tools.

Cons

• Does not accept US clients.

• Non-FOREX spread costs are relatively high.

• No GSLO.

• No back-testing or automated trading capabilities.

• Conditions vary according to regulation and entity.

Open account

ig markets Broker

IG is arguably the best broker when it comes to security and trust, boasting, as it does, licenses from 10 regulatory bodies, including the all-important FCA from the UK. The company is also a bank and is a publicly traded company in London. It is known for offering more than 10,000 asset classes of currencies, commodities, future contracts, ETFs, indices, cryptocurrencies etc. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.

Mediator Rating	8.54
Regulators	FCA
Minimum Deposit:	250$
Islamic account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch:	United Kingdom
Customer support	24/5
Demo account	not
Trading Platforms	Proprietary Platform -MT4 - Web Platform

Pros

• Easy-to-navigate platform that is simple for beginners to master.

• Margin rates are easy to understand and affordable.

• Mobile and tablet platforms offer full functionality of the desktop version.

• Accepts US clients.

• Access to more than 100 currency pairs.

• Emphasis on education and research.

• Regulated by the FCA (UK), as well as the CFTC and the NFA (US).

• Offers protection for UK/EU client accounts.

Cons

• US traders can currently only trade FOREX.

• No GSLO for US-based traders.

• No account protection for US clients.

• Relatively high share-CFD fees.

• No copy trading or back-testing integration on IG platform.

Open account

SAXO BANK Broker

Saxobank is considered one of the best investment banks in the area of financial markets and currencies, as it offers the very best trading platform and tools from all the companies we have reviewed. Meanwhile, its spread is very low and, as such, suitable for short-term deals; and it offers a large number of asset classes, including currencies, commodities, indices etc. Finally, its customer service is excellent and very responsive to traders' needs.

Mediator Rating	8.09
Regulators	FCA
Minimum Deposit:	10000$
Islamic account	No
Payment Methods	Bank transfer - credit card
Main Branch:	Copenhagen, Denmark
Customer support	24/5
Demo account	not
Trading Platforms	SaxoTrader

Pros

• Extensive range of offerings.

• Regulated by the FCA (UK) and other top regulators.

• Great trading platform.

• Among the industry’s best research.

• Superior user interface.

• Offers protection for client accounts.

Cons

• High bond, options and futures fees.

• Lack of emphasis on customer service.

• Confusing instrument fee structures.

• High minimum deposit.

• Does not accept US clients.

• No MT4.

• Lacks live chat.

Open account

CMC MARKETS Broker

CMC Markets is thought of as one the best companies, offering some 9,000 asset classes that encompass currencies, commodities, indices, cryptocurrencies, bonds and stocks. The company offers a relatively low spread, the MT4 platform, and fast customer service. It is most suited for traders looking for diversity in asset classes.

Mediator Rating	8.07
Regulators	FCA
Minimum Deposit:	0$
Islamic account	No
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch:	United Kingdom
Customer support	24/5
Demo account	not
Trading Platforms	Proprietary Platform -MT4 - Web Platform

Pros

• Extensive range of offerings.

• Regulated by the FCA (UK).

• Low FOREX fees

• Emphasis on education and customer service.

• Great Web and mobile platforms.

• Offers protection for client accounts.

• Research amenities are industry leading.

Cons

• Does not accept US clients.

• Limited product portfolio.

• High stock CFD fees.

• High CFD spreads for certain indices.

• Differences between Next Generation and MT4.

• Complicated account verification.

• No back-testing or automated trading capabilities.

Open account

think markets Broker

Originally founded in New Zealand in 2010, and moving to Australia within the space of their first two years, Think Markets is a global online brokerage focusing on FOREX and CFD trading. In addition to a range of major and minor currency pairs. Think Markets has an array of CFDs on offer. This includes indices, as well as hard and soft commodities.

Mediator Rating	8.05
Regulators	FCA
Minimum Deposit:	0$
Islamic account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch:	Australia
Customer support	24/5
Demo account	not
Trading Platforms	Proprietary Platform -Web platform-mt4- mt5

Pros

• Beginner assistance offered through 24/6 channels.

• Spreads are as low as 0.0 pips.

• 24/7 expert customer service.

• CFD shares and indices come at no extra fee.

• Zero broker fees for FOREX trading.

• Technical analysis and quality market information.

• Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.

Cons

• Direct share trading is on a separate platform.

• No binary options offered.

• Commissions charged for two account types.

• After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.

• No US, Canada or Japan clients allowed.

Open account

forex Broker

Forex.com is the oldest brokerage house in the world. A US-based company, it also allows Americans to trade, given it has obtained NFA licensing. The company is known for its excellent educational courses. Further, it offers traders the ability to use MT4, a relatively low spread, and excellent customer service.

Mediator Rating	7.92
Regulators	FCA
Minimum Deposit:	100$
Islamic account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch:	United States of America
Customer support	24/5
Demo account	not
Trading Platforms	Proprietary Platform -Web platform-mt4- mt5

Pros

• Wide range of product offerings.

• Regulated by the FCA (UK) and the CFTC (US), along with the NFA (also in the US).

• TradingView charts are built into the Web platform.

• Rebates for high-volume traders.

• Offers protection for UK/EU client accounts.

Cons

• Sub-par Website maintenance.

• No account protection or GSLO for US clients.

Open account

FXCM Broker

FXCM is considered one of the most important FOREX broker companies in the world. With branches spread out all over the world, it is the first company in the world to utilize a marketing plan to take hold of several markets around the globe. It is one of the first companies in the world to offer the MT4 trading platform, a relatively low spread and good customer service.

Mediator Rating	7.87
Regulators	FCA
Minimum Deposit:	300$
Islamic account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch:	United States of America
Customer support	24/5
Demo account	not
Trading Platforms	Proprietary Platform -MT4 - Web Platform

Pros

• Good regulation by relevant authorities in its chosen markets.

• Quality educational material.

• Dependable desktop and Web trading platforms.

• Availability of demo accounts for testing.

• Access to several AI-driven algorithmic tools.

• Excellent liquidity partners.

• Access to five asset classes for investment.

• Competitive and transparent pricing.

• Low minimum deposits needed.

• Spread betting for UK and Ireland clients.

Cons

• Relatively small product portfolio.

• Does not offer managed accounts.

• Does not deal with certain key markets, including the US, New Zealand and Singapore.

• Fined by the FCA for defrauding customers.

Open account

swissquote Broker

Swissquote is considered a very unique company, offering traders a state-of-the-art experience. It is noteworthy for being the sponsor for Manchester United FC. The company offers a relatively high spread, the MT4 trading platform, and excellent customer service.

Mediator Rating	7.83
Regulators	FCA
Minimum Deposit:	1000$
Islamic account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch:	Switzerland
Customer support	24/5
Demo account	not
Trading Platforms	Proprietary Platform -Web platform-mt4- mt5

Pros

• Swiss accounts receive the benefit of funds held in Swiss tier-1 bank accounts, with an IBAN for seamless international trading.

• Many platform types, including Autochartist, allow members access to more market opportunities.

• Assorted plugins help give traders new functionality for charting, order types, technical analysis and indicators.

• Zero-commission and from 0.0 spreads accounts options are cost-effective for trading.

• Great educational resources are a comfort for novices.

Cons

• Large, somewhat confusing array of services might confuse beginners.

• Average spreads are somewhat higher in Swiss accounts than in EU accounts.

• Somewhat high minimum deposit amounts, even on the lowest account type.

Open account

Review Methodology

The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:

 

1. Companies’ Websites.

2. Other Websites that have ranked FOREX companies.

3. survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets etc.

Afterward we validated the data by:

1. Registering with FOREX companies as a secret shopper and/or as Arincen.

2. Survey number “2,” in which we asked these companies’ customers for important feedback and past experience.

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung etc.

To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%.

Who is Arincen and What Are Our Services?

Put simply, Arincen is a social networking platform that brings together traders and experts to exchange expertise and ideas. Together, we evaluate the best FOREX companies in the world while offering a compressive suite of services and tools, all in one place, either via a computer or a mobile app. The platform is so rich, one can create his own private portfolio of traders and experts they like and, at the same time, follow their recommendations and investment sentiments.

Further, thanks to Arincen, users can keep an eye on market-price developments, as well as the latest news. Users can also benefit from the network’s educational courses on offer, to say nothing of exciting Webinars – all done in a modern and fast-paced work environment. Get all that you need in one place, not less, not more. In short. Arinen: We Meet to Simplify the Trading World.

Conclusion

If anything, the key message to take away from this article is that the FOREX brokerage firm one picks must be legally licensed and well-regulated. On a final note, it is never advisable to deal with FOREX companies on your own. It is best this is done with the help of industry experts, which can provide you with all the services FOREX companies cannot. Start trading using Arincen and enjoy all the services, advice and tools it has to offer, while making your trading experience profitable!