Does the Portuguese Non-Habitual Resident regime still apply to forex traders?
How this answer was verified
- Cross-checked against broker-published fact sheets, regulator licensing databases, and ESMA product intervention notices.
- Reviewed by the FX-Brokers EU editorial desks (Markets, Platforms, Regulation). Desk structure disclosed at /about/editorial-desks.
- Refreshed quarterly. The most recent verification date is shown above. Read our methodology.
Broker mentioned in this answer
Exness
9.4/10Exness is a high-volume global broker with ultra-tight pricing and instant withdrawals. Holds CySEC and FCA licences but closed EU/EEA/UK retail onboarding in 2019 — available to non-EU residents only.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of 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.
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Related
How is forex trading taxed in Portugal?
In Portugal, forex CFD profits are taxed at a flat 28% under Category G capital gains. Traders can elect for the progressive IRS rates if it produces a lower bill. Held-over-365-days rule does not apply to CFDs. Tax residents must declare on Modelo 3, Anexo G. NHR status (until 2024) gave 0% but no longer available for new applicants.
How is forex trading taxed in Europe?
Forex trading tax treatment varies significantly across EU countries. Germany taxes CFD profits at a flat 25% capital gains rate. France treats forex profits as commercial income (up to 45% marginal). The UK taxes most retail forex gains as capital gains (18-24% since 30 October 2024). Spread betting is tax-free in the UK and Ireland only.
What is the best forex broker in Europe in 2026?
Our editorial team's top pick for EU traders in 2026 is Pepperstone (9.3/10), followed by IG (9.2/10) and XM (9.0/10). Pepperstone wins on BaFin regulation, a zero minimum deposit and raw 0.0-pip spreads. IG offers the broadest market coverage with 17,000+ instruments. XM adds CySEC cover and strong education. Exness, though highly rated globally, closed EU/EEA retail onboarding in 2019 and does not accept EU residents, so it is excluded from EU shortlists.
XTB vs Pepperstone — which broker is better in 2026?
For EU traders, Pepperstone wins on raw spreads and multi-regulator coverage (BaFin, FCA, CySEC, ASIC). XTB wins on no minimum deposit, an excellent proprietary platform (xStation 5), and direct stock CFD coverage in Polish/CEE markets. Choose Pepperstone for cost-sensitive active trading. Choose XTB for stock CFDs and KNF-regulated Polish market access.
Broker review: Exness
Exness is a high-volume global broker with ultra-tight pricing and instant withdrawals. Holds CySEC and FCA licences but closed EU/EEA/UK retail onboarding in 2019 — available to non-EU residents only.