Brokers With CZK Accounts
A Czech koruna (CZK) account is a trading account denominated in the Czech Republic’s currency. They are popular with Czech traders, allowing account holders to deposit, trade and withdraw in their local currency while helping to minimize conversion fees.
Discover the best brokers that offer accounts denominated in CZK following our extensive tests.
Best Brokers With CZK Accounts
Our findings show these are the 1 top trading platforms with CZK accounts:
-
1
Zacks Trade
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$2500$3FINRAStocks, ETFs, Cryptos, Options, BondsOwnWire Transfer, ACH Transfer, ChequeUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF
Here is a summary of why we recommend these brokers:
- 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.
Brokers With CZK Accounts Comparison
| Broker | CZK Account | Minimum Deposit | Markets | Regulator |
|---|---|---|---|---|
|
|
✔ | $2500 | Stocks, ETFs, Cryptos, Options, Bonds | FINRA |
Zacks Trade
"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."
Tobias Robinson, Reviewer
Zacks Trade Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, ETFs, Cryptos, Options, Bonds |
| Regulator | FINRA |
| Platforms | Own |
| Minimum Deposit | $2500 |
| Minimum Trade | $3 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF |
Pros
- Regulated by FINRA with access to the Securities Investor Protection Corporation
- Customizable proprietary trading platform and mobile app
- Comprehensive research and data
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
How Did We Choose The Best Brokers?
To list the top trading platforms with CZK accounts we:
- Used our database comprising 265 brokers and trading platforms
- Identified all those providing an account denominated in Czech koruna
- Sorted them by their rating, blending 100+ data entries with the direct experiences of our experts
What Is A CZK Account?
A CZK account is a trading account where the base currency is denominated in the Czech koruna.
All trades (opening and closing positions) and non-trading transactions (deposits and withdrawals) are conducted in CZK.
Below you can see an example where I opened a CZK-based trading account at IronFX.
Do I Need A CZK Trading Account?
This type of account may be suitable if:
- You live in the Czech Republic and earn or save in the CZK because it’s cost-effective to have a trading account in the same currency.
- You trade currency pairs with a CZK component, for example, the EUR/CZK and USD/CZK, because it simplifies calculating profits and losses.
- You trade Czech stocks listed on the Prague Stock Exchange because they could help you avoid frequent conversion costs.
How Can I Check If A Broker Offers An Account In Czech Koruna?
Follow these simple steps, which we used to verify that every one of our recommended brokers offers a CZK account:
- Navigate to the account options page on the broker’s website to see if there’s a list of ‘base currencies’ or similar.
- Check that ‘CZK’ is listed as a supported account currency for your location.
- Sign up for a live or demo account and click ‘CZK’ as your preferred currency.
Pros & Cons Of CZK Trading Accounts
Pros
- Brokers with koruna accounts are more likely to tailor their trading services to Czech traders in other ways, for example, providing stocks listed on the Prague Stock Exchange (PSE) and forex pairs containing the CZK, such as EUR/CZK.
- They reduce/eliminate currency conversion fees on koruna deposits, whereas if you deposited koruna into an IG trading account based in US Dollars, for example, you would be charged a 0.8% FX conversion fee in addition to the current exchange rate from multiple banks.
- Our analysis shows brokers with CZK accounts are often authorized by a European regulator that complies with the EU MiFID directive, providing excellent safeguards for retail traders across Europe, including the Czech Republic, notably negative balance protection.
- For Czech traders, especially day traders, being able to manage many trades and navigate frequent costs is more convenient when everything is based in the currency you are familiar with.
Cons
- Despite a rising number of platforms supporting CZK accounts, they remain relatively rare (less than 10% of the brokers we’ve tested), reducing the pool of high-quality brokers to choose from.
- Although the CZK is a relatively stable currency, in part because of its strong economic ties with Europe, holding funds in the currency may expose you to any fluctuations in the koruna following geopolitical pressures in the Czech Republic.
- The Czech koruna exhibits lower trading volumes than major currencies like the USD and EUR, so investors trading CZK with other currencies may incur higher spreads.
- Active traders dealing in overseas assets, such as US stocks, may need to pay a conversion fee if depositing and managing trades in the koruna.
FAQ
Which Is The Best Broker With A CZK Account?
Use our list of the top brokers with CZK accounts to find the platform that best meets your needs.
How Much Does It Cost To Open A Trading Account Based In Czech Koruna?
Our analysis of 265 brokers, including over 10 that offer a CZK account, shows you normally need up to 250 USD, or around 5,800 CZK.
That said, DEGIRO and Revolut stand out with no minimum deposit in CZK, making them superb options for beginner traders.
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