RON fx currency accounts

Romanian New Leu (RON) serves as Romania's official fiat currency, having replaced the old Leu in 2005. There are several advantages to using the Leu as a base currency: Reduced Transaction Costs: Utilizing local payment methods and avoiding currency conversion fees help lower transaction expenses. Favorable Forex Options: Forex brokers that offer RON accounts also provide payment options popular in Romania, resulting in lower fees. However, it's essential to note that the New Leu is scheduled to be replaced by the Euro in 2024. Despite the acceptance and free exchange of USD and EUR, the Leu remains the dominant currency in Romania, making it a preferred choice for traders. For local FX traders seeking to minimize costs, a RON FX trading account is the optimal solution. If you're interested in leveraging the advantages of RON FX trading accounts, here's a list of the best Forex brokers with Leu accounts.
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9.90
MT4MT5Deposit bonusCopy tradingECNHigh leveragePAMMSignals
Regulations
ASIC, CySEC, DFSA +2 more
Platforms
MT4, MT5
9.72
MT4MT5Deposit bonusCopy tradingECNHigh leveragePAMMSignals
Regulations
ASIC, CySEC, DFSA +2 more
Platforms
MT4, MT5
9.54
MT4MT5Copy tradingECNHigh leveragePAMMSTP
Regulations
CMA, Central Bank of Curaçao and Sint Maarten, CySEC +5 more
Platforms
MT4, MT5
9.36
AvaTrade read review
MT4MT5Deposit bonusCopy tradingECNHigh leveragePAMMSTP
Regulations
ASIC, CySEC, DFSA +2 more
Platforms
MT4, MT5
9.18
RoboForex read review
MT4MT5cTraderDeposit bonusCopy tradingECNHigh leveragePAMMSTP
Regulations
FSC Belize
Platforms
MT4, MT5, cTrader +1 more
9.00
MT4MT5Deposit bonusCopy tradingECNHigh leveragePAMMSignalsSTP
Regulations
ASIC, CySEC, FSCA +2 more
Platforms
MT4, MT5
8.82
Fortrade read review
MT4No deposit bonusCopy tradingPAMMSignals
Regulations
ASIC, CySEC, FCA UK +2 more
Platforms
MT4, Custom
8.64
Pepperstone read review
MT4MT5cTraderCopy tradingECNPAMMSignals
Regulations
ASIC, BaFin, CMA +4 more
Platforms
MT4, MT5, TradingView +1 more
8.46
High leverageSignals
Regulations
CNMV, FCA UK, KNF +1 more
Platforms
xStation
8.28
MT4MT5Copy tradingHigh leveragePAMM
Regulations
CIMA, CySEC, FCA UK
Platforms
MT4, MT5
FX brokers that offer accounts in Leu in Romania, fall under the oversight of the Romanian Financial Supervisory Authority (ASF). This regulatory body permits brokers to provide a maximum leverage of 1:30 to their retail traders, aligning with the standards of other reputable regulators such as FCA, ASIC, and CySEC. The New Leu operates as a floating currency, which means its exchange rates are subject to the forces of supply and demand. Consequently, it presents an attractive opportunity for speculation. For Romanian FX traders aiming to trade their currency before 2024, it is advisable to choose Forex brokers with RON accounts. These accounts cater specifically to their needs and preferences.

FAQs about RON

What is the meaning of RON currency?

RON currency stands for the Romanian New Leu, the official fiat currency of Romania introduced in 2005. It replaced the old Leu and will be replaced by EUR in 2024.

Is RON fixed or floating currency?

RON is a floating currency, meaning it's not pegged to any other currency and its exchange rates are determined by market forces of supply and demand in the foreign exchange market.

What are the benefits of using RON as an FX trading account currency?

There are several benefits of using RON as a Forex trading account base currency including avoiding currency conversion fees, lowering transaction costs, and enjoying the 1:30 leverage for retail traders.