Best forex brokers in Greece

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Online Forex trading is alive and well in Greece and there are quite a few traders in the country, as well as many foreign brokerages that target Greek clients. Greece is also a member-state of the European Union which means that all the guidelines and rules set by the European Securities and Markets Authority (ESMA) are in force in Greece as well. They include a cap on the leverage of 1:30, negative balance protection, segregation of accounts and so forth.

Furthermore, the government has integrated Forex trading within its regulatory framework and there are several Greek forex brokerages that are licensed by the relevant authorities, that is, by the Hellenic Capital Market Commission. The Commission is the governmental body which is charged with the oversight of financial activities outside of the banking sector. Its website is quite informative and available in English for the convenience of foreigners. It also keeps and updates a list of regulated entities, as well as issues warnings regarding companies suspected to be scammers.

Furthermore, HCMC-regulated brokers such as AAAFx are also members of the Athens Stock Exchange Members’ Guarantee Fund which is a sort of compensation scheme by which clients may be compensated for losses up to 30 000 EUR per person.

Being a member of the EU means that major Forex brokerages registered and regulated elsewhere in Europe may provide such financial services to Greek traders unhindered. They need only register formally with the HCMC and have their license reviewed and approved as legitimate.

The most popular payment methods in Greece are Bank wire, Visa and MasterCard.