Best Forex Brokers Greece 2023

When seeking online brokers in Greece to trade currencies or derivative trading such as contracts for difference (CFDs), most brokers will accept Greek-based clients, including foreign brokers. Nevertheless, an EU-registered broker may be particularly appealing when selecting a broker. EU registered brokers not only will need to maintain a positive reputation with local regulators, but any conflict that may arise should be able to be resolved locally. Not to mention, a number of reputable online forex brokers are based in the EU, especially in Cyprus. Alternatively, traders based in Greece can generally deposit funds in online trading accounts with any non-EU broker that will onboard them as a client.

Moreover, it is important to verify that any non-EU broker is subject to strict governing regulations in their jurisdiction. Brokers should keep their client funds segregated from their own assets, assuring the safety of margin deposits. Good foreign brokers should also have a good overall reputation with their clients, and they should potentially offer a satisfactory set of trading-related services and asset classes.

Additionally, many online brokers provide demo accounts with virtual money so traders can practice and test strategies. Likewise, brokers also generally provide live trading accounts that need to be funded with a given minimum initial deposit to allow margin trading to begin. Other brokers may also offer Sharia law compliant Islamic accounts to traders, which lack swaps on rollovers.

When stock trading is involved, ATHEX aims to foster trading in a fair and transparent market throughout the range of asset classes, in addition to Greek stocks. ATHEX trades will generally be executed in euros, although U.S. dollar transactions are also available. Electronic trading in securities and derivatives listed on the ATHEX has been available via its Automated Integrated Trading System (OASIS) since 1999. OASIS has two sub-systems called the Equity Trading System (ETS) and the Derivatives Trading System (DTS), which cater to different types of products involved. OASIS is available in both Greek and English.

While Greece’s economy has gone through an extended period of turbulence and upheaval, the country’s economic growth has continued to progress over the last few years. According to Export.gov, Greece provides additional opportunities for business and investment in the following sectors of the economy:

• Information and communications technology.
• Defense and aerospace.
• Marine technology.
• Renewable energy.
• Food products such as: nuts: almonds, walnuts, pistachios; fruit: dried plums and cranberries; seafood: shrimp, lobster, crab, mollusks, and squid; whiskey and other distilled spirits.
• Raw materials such as hardwood and veneers.
• Moreover, the World Bank ranked Greece in 31st place in trading across borders.

Moreover, the World Bank ranked Greece at 31st place in trading across borders.

According to the World Bank Group, the EU nations of Italy, Germany, Cyprus and Bulgaria remain Greece’s top trading partners as of 2017. As an EU member since 2007, Greece’s economy and relationship with the UK might be adversely affected by the UK’s upcoming exit from the European Union.

As a consistent net importerwith a negative balance of trade numbers since 2001, Greece’s economy could potentially be negatively affected by trade tariffs, trade wars, and any failure to adhere to its key trade agreements. According to the World Bank, Greece’s trade to GDP ratio of 67% as of 2017, increasing the country’s economic vulnerability to trade disruptions.

According to the World Bank, Greece ranked 72nd in the overall ease of doing business, as well as 153rd in registering property and 132nd in enforcing contracts. The business climate was also implied to be challenging for obtaining credit, electricity, and paying taxes, for which the country ranked 99th, 79th, and 65th respectively.

In general, traders and businesses will find Greece a fairly secure place to operate in when it comes to doing business, in part due to the fact that Greece remains a member of the European Union. Greece also benefits from relative currency stability due to its membership in the Eurozone.

Greece has nevertheless had some financial difficulties in the past during its sovereign debt crisis, which is an element to bear in mind. Moreover, Greek financial institutions and forex brokers operating in Greece are authorized and overseen by the HCMC. They also need to comply with the Markets in Financial Instruments Directive (MiFID) regulations of the EU.

When considering an online broker to trade with from Greece, traders should review the broker’s available asset classes, reputation with clients, regulatory oversight and trading platform. Moreover, brokers should always keep clients’ funds separate from their own money, in order to protect client's assets from creditors in case of insolvency.