Brokers With CZK Accounts

Brokers with Czech koruna (CZK) trading accounts are a popular choice with investors in the Czech Republic, as well as international clients actively trading the currency. This guide will cover how to compare brokers with CZK accounts plus the benefits of choosing a platform that accepts the currency.

Brokers With CZK Accounts

These are the 2 best brokers that offer accounts with CZK as the base currency:

Brokers With CZK Accounts Comparison

Brokers With CZK Accounts Comparison
Broker Minimum Deposit Instruments Platforms Visit
Revolut logo
$0 Stocks, Cryptos Own Visit
Zacks Trade logo
$2500 Stocks, ETFs, Cryptos, Options, Bonds Own Visit

#1 - Revolut

Why We Chose Revolut

Revolut is a popular financial app that also offers trading on stocks, metals and digital currencies. The brand has over 25 million users worldwide with a choice of accounts, tools and services to suit different needs and budgets, including online investing and currency exchange.

"Revolut is suitable for casual stock traders looking for an easy-to-use app with transparent fees and a low minimum investment."

- DayTrading Review Team
  • Instruments: Stocks, Cryptos
  • Regulator: FINRA, SEC
  • Platforms: Own
  • Minimum Deposit: $0
  • Minimum Trade: $1

Pros

  • No inactivity charge
  • Beginner-friendly mobile investing application
  • Good range of account types with different perks and fees

Cons

  • Relatively narrow product range
  • No advanced trading platform
  • No margin trading

#2 - Zacks Trade

Why We Chose Zacks Trade

Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."

- DayTrading Review Team
  • Instruments: Stocks, ETFs, Cryptos, Options, Bonds
  • Regulator: FINRA
  • Platforms: Own
  • Minimum Deposit: $2500
  • Minimum Trade: $3

Pros

  • Customizable proprietary trading platform and mobile app
  • Comprehensive research and data
  • 20+ account denominations

Cons

  • Withdrawal fees apply if removing funds more than once per month
  • Shortcomings regarding platform loading times and technical glitches
  • No forex, commodities or futures trading

What Is A CZK Account?

CZK trading accounts let you manage investing activity in the Czech koruna. This is referred to as an account base currency. All account management and trading activity take place in the selected money including commission charges, overnight fees, plus profit and loss displays. Importantly, they also remove currency conversion fees for clients depositing in CZK.

The best brokers offer multiple account base currencies to investors, providing local traders with hassle-free access to financial markets.

The account denomination can be chosen during your personal profile setup and it may be difficult to change the base currency once your profile is live.

CZK Currency Explained

The Czech koruna, sometimes called the Czech crown, has been the currency of the Czech Republic since 1993. It replaced the Czechoslovak koruna following the disbanding of the Soviet Union in 1991.

The country must adopt the Euro following its introduction to the European Union in 1994. With that said, switchover plans are currently on hold, with just 21% of the Czech population supporting the use of the Euro.

The monetary policy of the country is directed by the Czech National Bank. In 2017, the currency was released from its peg to the Euro, allowing it to float freely. In December 2021, the value of the currency in circulation was CZK 730 million.

Today, the typical exchange rate floats between 21 to 24 CZK to one USD. The Czech koruna is the 27th most traded currency in the world, accounting for 0.4% of the daily forex market turnover.

List of brokers with CZK accounts

Benefits Of Brokers With CZK Accounts

How To Check A Broker Offers A CZK Account

A bit of research on a broker’s website can indicate which base currencies are accepted. These can often be found on the account funding page or within the account details section. Alternatively, you should be able to find this information on the new profile registration page. Contact the broker’s customer support team if base currencies are still not clear.

Comparing Brokers With CZK Accounts

There are a few factors to consider before signing up for a CZK account:

CZK trading accounts

Bottom Line On Brokers With CZK Accounts

Brokers with CZK accounts are popular with investors from the Czech Republic as well as active forex traders. Many of the best platforms are authorised by the Czech National Bank (CNB), providing various client protection measures. Carry out your own research to find a broker suited to your needs. Alternatively, see our list of top picks to get started today.

FAQs

How Will I Know If Brokers Offer A CZK Account?

Accepted base currencies are often listed on the account profile webpage or within the deposit and withdrawal section of a broker’s website. If information is still not clear, reach out to the customer support team.

Which Brokers Offer CZK Trading Accounts?

Our review found several global brokers offering CZK accounts. This includes Degiro, Trading 212, Admiral Markets and FXTM.

What Is The Minimum Deposit Requirement For Brokers With CZK Accounts?

Minimum deposit requirements vary between brokerages. It can range anywhere from 1 USD or equivalent Czech koruna up to 500 USD or equivalent currency.

How Do I Open A CZK Trading Account?

Once you have chosen a suitable broker, input the requested personal details to open an account. This process often entails a simple online registration form and the provision of identity documentation. Account base currency options are typically provided at this stage. Select CZK and proceed.

Are Brokers With CZK Accounts Regulated?

Brokers with CZK accounts may be regulated by the Czech National Bank (CNB) or comply with the EU MiFID derivative. Always look out for a top-tier regulatory body overseeing the activities of the provider. This will help create a safe and transparent trading environment.