Best Day Trading Platforms and Brokers in the Czech Republic 2024
To day trade financial markets like currency pairs containing the Czech koruna (CZK) or stocks listed on the Prague Stock Exchange, you’ll need an online broker.
The Czech National Bank (CNB) regulates day trading brokers in the Czech Republic, though other platforms regulated in the EU can accept Czech traders through the EU’s passporting initiative.
Jump into DayTrading.com’s selection of the best day trading brokers in the Czech Republic. All our picks accept Czech traders and some go the extra mile, providing CZK trading accounts for convenient deposits.
Top 10 Platforms For Day Trading In The Czech Republic
Following our tests of hundreds of brokers, these 10 stand out for short-term traders in Czechia:
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1AvaTrade79% of retail accounts lose money with this provider.
Ratings
$1000.01 Lots1:30 (Retail) 1:400 (Pro)ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, FuturesWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTradeSkrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, BoletoUSD, EUR, GBP, CAD, AUD -
2Deriv.com
Ratings
$50.01 Lots1:1000MFSA, LFSA, VFSC, BFSCCFDs, Multipliers, Forex, Stocks, Indices, CommoditiesDeriv Trader, Deriv X, MT5, TradingViewNeteller, Visa, Skrill, WebMoney, FasaPay, Perfect Money, Diners Club, Banxa, Paytrust, Wire Transfer, Mastercard, Credit Card, JCB Card, Sticpay, Trustly, Volet, Paysafecard, AstroPay, Maestro, Airtm, Boleto, JetonCash, Przelewy24USD, EUR, GBP, AUD -
3PepperstoneCFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Ratings
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCBCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread BettingMT4, MT5, cTrader, TradingView, AutoChartist, DupliTradeVisa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, SkrillUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
4IC Trading
Ratings
$2000.01 Lots1:500FSCCFDs, Forex, Stocks, Indices, Commodities, Bonds, Cryptos, FuturesMT4, MT5, cTrader, AutoChartist, TradingCentralPayPal, Neteller, Mastercard, Visa, Wire Transfer, Debit Card, Credit CardUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
5XM75.33% of retail accounts lose money.
Ratings
$50.01 Lots1:30ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF, KNFForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, FuturesMT4, MT5Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF -
6Eightcap
Ratings
$1000.01 Lots1:30ASIC, FCA, CySEC, SCB, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoMT4, MT5, TradingViewNeteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX PaymentUSD, EUR, GBP, CAD, AUD, NZD, SGD -
7LiteForex Europe
Ratings
$500.01 Lots1:30CySEC, AFMCFDs, Forex, Indices, CommoditiesMT4, MT5Neteller, Skrill, Visa, QIWI, Mastercard, Perfect Money, Western Union, Credit CardUSD, EUR, GBP, CHF -
8RoboForex$30 No Deposit BonusRoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Ratings
$100.01 Lots1:2000IFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, FuturesR StocksTrader, MT4, MT5, TradingViewVisa, iDeal, Trustly, Neteller, Skrill, Giropay, Sofort, Wire Transfer, Rapid Transfer, Alipay, POLi, Perfect Money, MoneyGram, Cashu, SafeCharge, WeChat Pay, Vietcombank Transfer, Volet, ecoPayz, AstroPayUSD, EUR -
9eToro51% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Ratings
$100$101:30FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMFCFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTseToro Web, CopyTrader, TradingCentralVisa, Skrill, Neteller, Wire Transfer, Rapid Transfer, Swift, Debit Card, iDeal, Klarna, Sofort, Trustly, Przelewy24USD -
10InstaForexCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.34% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford the risk of losing your invested funds.
Ratings
€200 (€1 after account opening)0.01 Lots1:30 (Retail), 1:500 (Pro)CySECCFDs on Stocks, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Shares & ETFs, Shares BasketsMT4, MT5Skrill, Mastercard, Visa, Neteller, Wire Transfer, Przelewy24, Giropay, Rapid TransferUSD, EUR, GBP, PLN, CZK
Here is a short summary of why we think each broker belongs in this top list:
- AvaTrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
- Deriv.com - Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
- Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
- IC Trading - IC Trading is part of the established IC Markets group. Built for serious traders, it boasts some of the most competitive spreads, reliable order execution, and advanced trading tools. The catch is that it’s registered in the offshore financial centre of Mauritius, enabling it to offer high leverage but in a weakly regulated trading setting.
- XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
- Eightcap - Eightcap is a multi-regulated forex and CFD broker established in Australia in 2009. The broker has proven popular with active day traders, providing 800+ instruments with tight spreads and notable improvements in recent years, integrating the leading TradingView platform, alongside AI-powered financial calendars and algo trading tools with zero coding experience required.
- LiteForex Europe - LiteForex Europe is a CFD broker established in 2008 and authorized by the CySEC. The brokerage offers forex, commodities and indices via the MT4 and MT5 platforms. Spreads are ultra tight on ECN accounts and leverage is available up to 1:30 in line with EU regulations. LiteForex also offers a rich education centre for new day traders and social trading capabilities.
- RoboForex - RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
- eToro - eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail CFD accounts lose money.
- InstaForex - InstaForex is a forex and CFD broker founded in 2010. The broker offers diverse market coverage to millions of clients, spanning traditional assets like currencies and shares, as well as other interesting opportunities such as IPOs.
Best Day Trading Platforms and Brokers in the Czech Republic 2024 Comparison
AvaTrade
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
Jemma Grist, Reviewer
AvaTrade Quick Facts
Demo Account | Yes |
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Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures |
Regulator | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM |
Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
Minimum Deposit | $100 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (Retail) 1:400 (Pro) |
Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
- Day traders can access stable spreads and zero commissions with no hidden fees
- Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
Cons
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
- There is no ECN account with raw spreads
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
Deriv.com
"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "
Jemma Grist, Reviewer
Deriv.com Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Multipliers, Forex, Stocks, Indices, Commodities |
Regulator | MFSA, LFSA, VFSC, BFSC |
Platforms | Deriv Trader, Deriv X, MT5, TradingView |
Minimum Deposit | $5 |
Minimum Trade | 0.01 Lots |
Leverage | 1:1000 |
Account Currencies | USD, EUR, GBP, AUD |
Pros
- Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
- Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient
- There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
Cons
- There's no loyalty program or rebate scheme for high volume traders
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Christian Harris, Reviewer
Pepperstone Quick Facts
Demo Account | Yes |
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Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting |
Regulator | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade |
Minimum Deposit | $0 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
Cons
- There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
IC Trading
"With superior execution speeds averaging 40 milliseconds, deep liquidity, and powerful charting software, IC Trading delivers an optimal trading environment tailored for scalpers, day traders, and algorithmic traders. "
Christian Harris, Reviewer
IC Trading Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Cryptos, Futures |
Regulator | FSC |
Platforms | MT4, MT5, cTrader, AutoChartist, TradingCentral |
Minimum Deposit | $200 |
Minimum Trade | 0.01 Lots |
Leverage | 1:500 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- The simplified and digital account opening process saves time and effort, allowing traders to start trading sooner without extensive paperwork, taking just minutes during testing.
- Trading Central and Autochartist are valuable tools for in-depth technical summaries and actionable trading ideas and are accessible from within the account area or the cTrader platform.
- IC Trading provides industry-leading spreads, including 0.0-pip spreads on major currency pairs such as EUR/USD, making it ideal for day traders.
Cons
- Customer support performed woefully during testing with multiple attempts to connect via live chat and no one available to assist, plus unanswered emails, raising concerns about its ability to address urgent trading concerns.
- Despite being part of the trusted IC Markets group, IC Trading is authorized by a weak regulator - the FSC of Mauritius, with limited financial transparency and regulatory safeguards.
- The educational resources are greatly in need of improvement, unless you navigate to the IC Markets website, posing a limitation for beginners in search of a comprehensive learning journey, especially compared to category leaders like eToro.
XM
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
William Berg, Reviewer
XM Quick Facts
Demo Account | Yes |
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Instruments | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures |
Regulator | ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF, KNF |
Platforms | MT4, MT5 |
Minimum Deposit | $5 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 |
Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF |
Pros
- XM is a hugely respected broker authorized by tier-one regulators
- Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools
- Accessible trading accounts with a $5 minimum deposit and fast account opening
Cons
- PayPal deposits are not supported
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- There is weak regulatory oversight through the global entity
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Christian Harris, Reviewer
Eightcap Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
Regulator | ASIC, FCA, CySEC, SCB, CNMV |
Platforms | MT4, MT5, TradingView |
Minimum Deposit | $100 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- Having excelled across all key areas for day traders, Eightcap outperformed every competitor to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
- With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
- After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
Cons
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
- Despite a useful library of educational guides and e-books in Labs, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
- The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
LiteForex Europe
"LiteForex is a good option for active day traders with variable spreads from 0.0 pips, daily analysis and high-quality training guides. The forex copy system also lets you duplicate the positions of experienced traders."
William Berg, Reviewer
LiteForex Europe Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Indices, Commodities |
Regulator | CySEC, AFM |
Platforms | MT4, MT5 |
Minimum Deposit | $50 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 |
Account Currencies | USD, EUR, GBP, CHF |
Pros
- Low $50 minimum deposit makes LiteForex accessible for beginners
- The broker offers a VPS server for experience day traders looking to run their auto strategies continuously
- LiteForex offers a range of proprietary mobile app tools which are ideal for traders who want to analyze the markets on the go
Cons
- Fees are fairly high, with spreads starting from 2.0 pips in the Classic account and $10 forex commissions in the ECN account
- The range of day trading markets is limited compared to alternatives, with no share CFDs offered
- There are limited funding methods compared to other brands
RoboForex
"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."
Christian Harris, Reviewer
RoboForex Quick Facts
Bonus Offer | $30 No Deposit Bonus |
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Demo Account | Yes |
Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures |
Regulator | IFSC |
Platforms | R StocksTrader, MT4, MT5, TradingView |
Minimum Deposit | $10 |
Minimum Trade | 0.01 Lots |
Leverage | 1:2000 |
Account Currencies | USD, EUR |
Pros
- RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders.
- RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
- The broker offers leverage up to 1:2000 for certain account types, which is among the highest in the industry. This high leverage allows day traders to maximize their trading potential, albeit with a corresponding increase in risk.
Cons
- RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
- While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
- Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the IFSC in Belize, lowering the level of regulatory protections for traders.
eToro
"eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."
Christian Harris, Reviewer
eToro Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs |
Regulator | FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF |
Platforms | eToro Web, CopyTrader, TradingCentral |
Minimum Deposit | $100 |
Minimum Trade | $10 |
Leverage | 1:30 |
Account Currencies | USD |
Pros
- Exciting investment portfolios are available covering traditional market trends as well as tech, crypto and more
- There's a comprehensive online training academy with accessible resources, from bitesize articles to comprehensive courses
- The broker's services are great for beginners, with commission-free stock trading, a low minimum deposit and an unlimited demo
Cons
- The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software
- There are limited contact methods aside from the in-platform live chat
- There are no guaranteed stop loss orders which would be a useful risk management feature for beginners
InstaForex
"InstaForex maintains its position as a top forex broker, with more currency products than most rivals. The tight spreads and low minimum deposits make it accessible to all experience levels, especially those familiar with the MT4 and MT5 platforms."
William Berg, Reviewer
InstaForex Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs on Stocks, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Shares & ETFs, Shares Baskets |
Regulator | CySEC |
Platforms | MT4, MT5 |
Minimum Deposit | €200 (€1 after account opening) |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Account Currencies | USD, EUR, GBP, PLN, CZK |
Pros
- InstaForex delivers a superb day trading environment, with the powerful MT4 and MT5 platforms offering dozens of technical analysis tools, automation capabilities and multiple order types
- The broker is a particularly good pick for serious forex traders, with over 100 currency pairs, tight spreads from 0.0 pips and a market-leading selection of curated forex market resources
- The broker is accessible for beginners, with low minimum deposits and zero-commission trading available.
Cons
- The broker provides trading instruments only in the form of CFDs.
- The broker’s website and client cabinet feel outdated and difficult to navigate for newcomers
- Customer support is available only in EN, CZ, PL, and SK.
Methodology
To identify the top day trading platforms in the Czech Republic, we scoured our directory of 267 online brokers and removed any that don’t accept Czech traders.
Then we ranked the remaining by their rating, combining hard data with our direct observations in key areas:
- We verified that each broker accepts Czech day traders.
- We recommended trusted and regulated brokers if not by the CNB.
- We focused on brokers with a diverse range of markets.
- We prioritized brokers with competitive day trading fees.
- We preferred brokers with transparent leverage and margin requirements.
- We favored brokers with powerful charting tools for technical analysis.
- We investigated each broker’s execution quality and speed.
How To Choose A Day Trading Broker In The Czech Republic
From our years of testing day trading platforms, there are several factors to consider when choosing a brokerage in Czechia:
Trust
Choose a broker with a long track record, excellent reputation, and authorization from a credible financial regulator.
These features will help to protect you from trading scams, which have been discovered on Czech soil in recent years. In 2020, several Czech-based websites were involved in a large-scale European forex scam which saw the theft of 8.5 million euros from at least 350 victims.
That’s why we only recommend trusted platforms supervised by an authority recognized in our Regulation and Trust Rating.
Markets
Choose a broker that offers the markets you want to trade. Importantly, maintaining a diverse portfolio of assets can help you to spread risk.
Czech traders may be interested in local markets like currency pairs involving the Czech koruna (CZK) such as USD/CZK or EUR/CZK, stocks listed on the Prague Stock Exchange (PX) such as Moneta Money Bank, or commodities such as natural gas given the country’s dependence on gas imports.
That said, day traders often look for liquid instruments to minimize costs and some Czech markets, notably CZK currency pairs, exhibit limited trading volumes.
- CMC Markets offers among the best range of 12,000+ instruments we’ve seen, including five CZK currency pairs and a selection of PSE-listed stocks, including Erste Group. Its contracts for difference (CFDs) products are also specifically geared towards short-term traders.
Fees
Choose a broker with competitive fees. This is particularly important for day traders who need to keep their frequent transaction costs low.
We routinely assess core trading fees like spreads and commissions during our tests, alongside non-trading costs like conversion charges if depositing korunas to an account based in another currency, such as euros.
We also take into account the overall service, as some brokers may provide premium tools at the expense of slightly higher fees or subscription charges. For example, you might get helpful insights into interest rate updates from the Czech National Bank, or market analysis covering equities listed on the Prague Stock Exchange.
- FXCC offers excellent pricing on assets like USD/CZK, with spreads from 0.1 pips and zero commissions. Unlike most brands we’ve evaluated, you also get a free range of eBooks covering various day trading techniques like scalping and technical analysis.
Leverage Trading
Choose a broker with transparent leverage and margin requirements.
Leverage allows you to boost your potential profits (or losses) using only a small deposit. This is known as the margin, which is what you’ll need to open and maintain your day trades.
Let’s say I’m an active Czech trader eyeing ČEZ, a major energy company in the country. The stock is trading at 1,000 CZK per share and I have 10,000 CZK to invest, which would normally buy me 10 shares.However, with 1:10 leverage, I can control 100 shares with the same 10,000 CZK. If the stock price rises by just 2% to 1,020 CZK, my profit without leverage would be 200 CZK (10 shares x 20 CZK gain). But with leverage, my profit jumps to 2,000 CZK (100 shares x 20 CZK gain).
I need to be careful though – if the stock drops 2%, my losses would also multiply, and I could lose my initial 10,000 CZK quickly.
- XTB stands out for its handy PDF table detailing each asset’s margin requirements. For example, to trade EUR/CZK at the European entity, you’ll need 5% for nominal portfolio values up to 20,000,000 EUR (the equivalent of 1:20 leverage).
Charting Tools
Choose a broker with reliable charting tools for executing short-term trading strategies.
Staples include MetaTrader 4 and MetaTrader 5, both of which are available in multiple languages, including Czech. In addition, more modernized solutions like TradingView are becoming prevalent.
For beginners, it’s also worth checking if the broker offers an in-house, web-accessible solution, which we regularly find is a more user-friendly and straightforward option than third-party software.
- Eightcap supports powerful platforms for short-term traders of all experience levels, including MT4, MT5 and TradingView. There’s also a terrific selection of extra tools, notably a slick AI-powered economic calendar where you can filter events by country, including Czechia.
Execution Quality
Choose a broker that delivers fast and reliable order execution to help you secure desired prices.
We assess execution speeds where possible (ideally less than 100 milliseconds), alongside any potential latency or slippage issues.
This is particularly important for day traders operating with slim margins and using stop losses.
- IC Markets continues to excel with execution speeds of around 35 milliseconds, making it one of the fastest brokers our experts use for real-money trading. The broker’s bridging technology also ensures superior fill prices for larger trades, sourced from multiple premium providers.
Minimum Deposit
Choose a broker with an accessible starting deposit.
Based on our evaluations, most day trading platforms in the Czech Republic let you get started with up to 250 USD, around 5,700 CZK, though many of the best have much lower entry requirements.
We also consider whether any local payment methods are available which could be cheaper and quicker for local traders, such as Czech residents.
PayPal remains one of the most popular digital payment solutions in Czechia, alongside traditional credit cards and debit cards.
- Pepperstone is a top choice for beginners, with no minimum deposit and near-instant deposits based on our investigations. It also offers convenient payment methods for Czech traders, including bank cards and PayPal.
FAQ
Who Regulates Day Trading Platforms In The Czech Republic?
The Czech National Bank is responsible for overseeing day trading providers in the Czech Republic.
However, other European regulators such as CySEC can also onboard Czech traders through the European Union’s passporting scheme. If you do go down this route, it’s important to adhere to the CNB’s regulations and tax rules in Czechia.
Which Is The Best Broker That Accepts Day Traders From The Czech Republic?
Refer to our list of the best day trading brokers in the Czech Republic to find a suitable option for your needs.
AvaTrade, for example, is one of the most trustworthy brands for new traders, CMC Markets is a great choice for traders looking for low fees on a diverse range of CZK currency pairs, and InstaForex caters specifically to Czech traders with a CZK account.
Recommended Reading
Article Sources
- Czech National Bank (CNB)
- Prague Stock Exchange (PSE)
- Major Forex Scam Discovered In Europe - Boccadutri
- Moneta Money Bank - PX
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