Key facts
- Regulator: Central Bank of Ireland (CBI)
- Retail leverage: up to 1:30 on major FX pairs (ESMA rules)
- Tax: CGT at 33%, €1,270 annual exemption (general position)
- After Brexit: UK brokers need an EU entity to serve Irish clients
Regulation
The Central Bank of Ireland supervises investment firms and implemented the EU's retail CFD measures permanently. Irish residents can use firms authorised directly by the CBI, or firms authorised elsewhere in the EEA (for example by CySEC or BaFin) that have passported services into Ireland. Relatively few forex brokers are authorised directly by the CBI; many serve Irish clients via other EU entities.
Retail protections
- Leverage caps from 1:30 to 1:2 depending on the asset
- 50% margin close-out and negative balance protection
- No bonuses or incentives
- Standardised risk warnings with each provider's loss percentage
Brexit and UK brokers
Before 2021 many Irish traders used UK brokers. UK firms no longer have passporting rights, so brokers serve Irish clients through EU subsidiaries. Check the entity in your client agreement — see EU residents and UK brokers.
Tax
For most private individuals, gains on CFDs and forex are subject to Capital Gains Tax at 33%, with an annual exemption of €1,270. Losses can generally be offset against gains. If your trading is frequent and organised enough to be considered a trade, Revenue may treat profits as income. Keep full records and take advice.
Choosing a broker
- Confirm the entity is authorised in the EEA and passported into Ireland.
- Prefer a euro account to avoid conversion costs.
- Compare all-in costs and platforms.
- Check the investor compensation scheme that applies to the entity.
Forex brokers to compare in Ireland
Pepperstone (EU entities supervised by CySEC and BaFin) and IG (IG Europe GmbH, BaFin) serve clients in many EEA countries. Check that each broker accepts residents of Ireland before applying, and see our European broker rankings.
| Broker | EU entity | Retail loss rate |
|---|---|---|
| Pepperstone | CySEC / BaFin | 72.9% |
| IG | IG Europe GmbH (BaFin) | 74% |
Frequently asked questions
Is forex trading legal in Ireland?
Yes. Irish residents can trade with firms authorised by the Central Bank of Ireland or passported into Ireland from another EEA country.
How are CFD profits taxed in Ireland?
Generally under Capital Gains Tax at 33%, after the €1,270 annual exemption. If trading amounts to a trade, income tax may apply instead.
Are there spread betting companies in Ireland?
Spread betting is mainly a UK and Irish product. Some providers offer it to Irish residents through their EU entities — check availability and tax treatment with the provider and an Irish tax adviser.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Tax information is general and may change. Consult a qualified Irish tax adviser.