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List of Forex brokers with Hungarian Forint accounts
Hungary, despite being a member state of the European Union since 2004, maintains its own currency. The Hungarian Forint (HUF) serves as the official currency of Hungary. If you reside in Hungary and frequently engage in transactions using the Hungarian Forint, opting for a trading account denominated in HUF can help you avoid fees associated with currency conversions. However, it's important to note that not all brokers offer HUF account types. To simplify the selection process, we have reviewed multiple brokers and compiled a list of the top brokers that support the Hungarian Forint as an account currency.
The Hungarian Forint (HUF) is not classified as a commodity currency and its value is influenced by political and economic events. As a free-floating currency, the Forint is actively traded in the Forex market. It was first introduced in 1946, and following World War II, Hungary resorted to increased money printing to address its debt, resulting in significant inflation. Between 2002 and 2021, the inflation rate in Hungary fluctuated between -0.2% and 8%. However, in 2022, the country experienced a notable inflation rate of 14.6%, surpassing the inflation numbers observed in the European Union, which were around 8%. It's important to note that the Forint is generally considered to be less stable than major currencies like the Euro (EUR) and the US Dollar (USD). Therefore, before opening trading accounts denominated in HUF, it is essential to consider the inflationary environment and its potential impact on the currency's stability.