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Hungary FX brokers
Forex trading is both allowed and regulated in Hungary, overseen by the Hungarian National Bank (MNB). The MNB enforces rules to ensure the safety of investors within the country. Forex brokers operating in Hungary must secure a license from the MNB, which monitors their adherence to regulations, promoting transparent Forex trading practices. Trusted Forex Brokers in Hungary must adhere to leverage limitations for retail traders set by the MNB. Major currency pairs have a maximum leverage of 1:30, while non-major currency pairs and gold have a limit of 1:20. Commodities and indices carry a maximum leverage of 1:10. Additionally, the MNB mandates the use of segregated bank accounts to safeguard both FX traders and investors. Although Hungary lacks a specific investor compensation scheme for broker insolvency, it aligns with EU standards. As a result, the best Forex brokers in Hungary conform to the Investor Compensation Scheme Directive (ICSD), extending a baseline of protection to eligible investors during insolvency situations. To assist traders in identifying the top Forex brokers in Hungary, we have diligently researched and ranked brokers in the list provided below.
Hungary, positioned 58th globally in terms of total nominal GDP at 188 billion, and 57th in per capita GDP at 19,385 dollars, boasts a well-developed financial system and economy. Notably, top Forex brokers in Hungary benefit from access to a diverse client base with substantial incomes. The nation's financial epicenter, Budapest, houses a majority of business headquarters, including those of brokers. Hungary's robust internet and technology infrastructure ensures widespread access to high-quality internet, simplifying entry into financial markets and educational resources. Consequently, leading Forex brokers in Hungary extend comprehensive educational materials and mobile platforms, ensuring easy accessibility to FX markets 24/5. Membership in the EU compels Hungary to uphold regulatory standards for Forex broker oversight. The ICSD, covering eligible investors up to approximately 20,000 Euros, offers protection. This framework assures that retail Forex traders in Hungary can engage in trading within a relatively secure environment.