🇮🇸Iceland Expert-reviewed Updated May 2026

Best Brokers in Iceland (2026)

12 top-rated brokers ranked for traders in Iceland. Every pick is independently scored on regulation, fees, platforms and markets — no paid placements.

Quick Answer

There are 78 regulated brokers available to traders in Iceland, led by Interactive Brokers (4.43/5). 12 of them hold tier-1 licences (FCA, ASIC, CySEC or equivalent). Average minimum deposit is $234. Forex trading in Iceland is regulated by the Financial Supervisory Authority Iceland (FME).

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Brokers available

12 of 12

Tier-1 regulated

$234

Avg min deposit

1:1,000

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Trading in Iceland

Forex and CFD trading in Iceland is regulated by the Financial Supervisory Authority Iceland (FME). Traders should look for brokers that hold a licence from FME or an equivalent recognised regulator such as FCA (UK), ASIC (Australia), or CySEC (EU) to ensure fund safety and regulatory protection.

When choosing a broker in Iceland, key factors include regulatory status, segregated client funds, competitive spreads, and a platform suited to your trading style. Our rankings above are filtered to brokers that accept clients from Iceland.

Top 3 brokers in Iceland compared

Broker	Score	Regulated by	Spread from	Min deposit
Interactive Brokers	4.4/5	SEC	0.2 pips	None	Visit
IG Group	4.3/5	FCA	0.6 pips	$250	Visit
FxPro	4.1/5	FCA	0.6 pips	$100	Visit

Top 12 Brokers in Iceland

Full ranking

How we chose: We evaluated 78 brokers available to traders in Iceland and ranked them by FME compliance, trading fees, platform quality, and markets offered. Only brokers with verifiable regulation and segregated client funds were included. Scores are calculated by our independent rating algorithm — no broker pays for placement.

#1 Top Pick in Iceland

Interactive Brokers

4.4

Regulated: SEC, CFTC, FCA

Spread from: 0.2 pips

Min deposit: None

Markets: stocks, forex, cfd, indices

Advanced tools for professional traders Access to 150+ markets in 33 countries

Visit Interactive Brokers Full review

IG Group

4.3

Regulated: FCA, ASIC, MAS

Spread from: 0.6 pips

Min deposit: $250

Markets: cfd, forex, stocks, indices

Visit broker Read review

Fees Regulation Platforms

FxPro

4.1

Regulated: FCA, CySEC, ASIC

Spread from: 0.6 pips

Min deposit: $100

Markets: forex, cfd, stocks, indices

Visit broker Read review

Fees Regulation Platforms

Pepperstone

4.1

Regulated: ASIC, FCA, CySEC

Spread from: 0 pips

Min deposit: $200

Markets: forex, cfd, crypto, stocks

Visit broker Read review

Fees Regulation Platforms

OANDA

4.1

Regulated: FCA, CFTC, ASIC

Spread from: 0.6 pips

Min deposit: None

Markets: forex, cfd, indices, commodities

Visit broker Read review

Fees Regulation Platforms

City Index

4.1

Regulated: FCA, ASIC, MAS

Spread from: 0.5 pips

Min deposit: None

Markets: cfd, forex, stocks, indices

Visit broker Read review

Fees Regulation Platforms

CMC Markets

4.0

Regulated: FCA, ASIC, MAS

Spread from: 0.7 pips

Min deposit: None

Markets: cfd, forex, stocks, indices

Visit broker Read review

Fees Regulation Platforms

3.9

Regulated: CySEC, ASIC, FCA

Spread from: 0.6 pips

Min deposit: $5

Markets: forex, cfd, stocks, indices

Visit broker Read review

Fees Regulation Platforms

eToro

4.0

Regulated: FCA, CySEC, ASIC

Spread from: 1 pips

Min deposit: $50

Markets: stocks, crypto, forex, indices

Visit broker Read review

Fees Regulation Platforms

#10

Saxo Bank

4.0

Regulated: FCA, MAS, ASIC

Spread from: 0.4 pips

Min deposit: $2000

Markets: stocks, forex, cfd, indices

Visit broker Read review

Fees Regulation Platforms

#11

Plus500

4.0

Regulated: FCA, CySEC, ASIC

Spread from: 0.6 pips

Min deposit: $100

Markets: cfd, forex, stocks, indices

Visit broker Read review

Fees Regulation Platforms

#12

AvaTrade

4.0

Regulated: FCA, ASIC, MAS

Spread from: 0.9 pips

Min deposit: $100

Markets: forex, cfd, crypto, stocks

Visit broker Read review

Fees Regulation Platforms

See all 78 brokers

Compare top brokers in Iceland

All comparisons

Interactive Brokers vs IG Group Interactive Brokers vs FxPro Interactive Brokers vs Pepperstone IG Group vs FxPro

More rankings for Iceland

Best Forex Brokers in Iceland

Risk warning: Trading CFDs and forex carries significant risk and may not be suitable for all investors. Ensure you understand the risks involved before depositing any funds. Capital is at risk.

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Frequently Asked Questions

Which broker is best for traders in Iceland?

Interactive Brokers is our top-rated broker available in Iceland with a BrokerRank score of 4.43/5, offering competitive fees, strong regulation, and a wide range of markets.

Who regulates forex trading in Iceland?

Forex trading in Iceland is regulated by the Financial Supervisory Authority Iceland (FME). Brokers operating in Iceland should hold a licence from FME or an equivalent recognised regulator. International brokers regulated by FCA (UK), ASIC (Australia) or CySEC (EU) are also commonly used by traders in Iceland.

Is forex trading legal in Iceland?

Yes, forex trading is legal in Iceland and is regulated by the Financial Supervisory Authority Iceland (FME). Traders should use brokers that are licensed by FME or hold equivalent international regulation to ensure legal protection and fund safety.

Are online brokers legal in Iceland?

Online forex and CFD trading is legal in Iceland when using a regulated broker. The primary regulator is Financial Supervisory Authority Iceland (FME). Always verify that the broker you choose holds a valid licence from a recognised financial regulator before depositing funds.

Is it safe to trade forex in Iceland?

Trading forex in Iceland is safe when you use a properly regulated broker. Choose a broker licensed by FME, which requires client fund segregation, regular audits, and transparent pricing. Key safety measures include: keeping funds in segregated accounts, enabling two-factor authentication, and never investing more than you can afford to lose.

What should I look for in a broker as a trader in Iceland?

Key factors include FME regulation or equivalent, local currency support to avoid conversion fees, competitive spreads, and a platform that suits your trading style. Our rankings above are filtered to brokers that accept clients from Iceland.

Do I need to pay tax on forex profits in Iceland?

Tax treatment of forex trading profits varies by country and individual circumstances. In Iceland, trading profits may be subject to capital gains tax, income tax, or other levies depending on your trading frequency and status. Consult a qualified tax advisor in Iceland for guidance specific to your situation. BrokerRank does not provide tax advice.

How do I compare brokers in Iceland?

Use BrokerRank's comparison tool to view any two brokers side-by-side across fees, regulation, platforms and markets. Visit /compare to build your own comparison.

What is the best forex broker in Iceland for beginners?

For beginner traders in Iceland, the best forex broker is one with a low minimum deposit, an intuitive platform, and strong educational resources. Interactive Brokers is our top-rated pick for Iceland overall. Look for brokers offering demo accounts, clear fee structures, and responsive customer support in your language.