Best Online Brokers in Latvia 2026
FCMC (FKTK)-regulated and MiFID II-passported brokers for Latvian investors — ranked by fees, 20% capital gains tax, Nasdaq Riga OMX Baltic access and Eurozone EUR currency.
✅ FKTK / MiFID II EU
🇱🇻 20% Capital Gains Tax
💸 20% Dividend WHT
📊 Nasdaq Riga / OMX Baltic
💶 Eurozone since 2014
🔄 Last updated: September 2026 · Reviewed by WhichBroker Research Team
⚠️ Risk warning: Investing involves risk of loss. Capital is not guaranteed. Some links on this page are affiliate links — this does not affect our rankings.
What to check before choosing a broker in Latvia
Latvia is a full EU and Eurozone member (adopted EUR in 2014) with a 20% capital gains tax and 20% dividend withholding tax. The Financial and Capital Market Commission (Finanšu un kapitāla tirgus komisija — FKTK) regulates Latvia's capital markets. The Nasdaq Riga (OMX Riga) exchange is part of the OMX Baltic regional market alongside Lithuania's Nasdaq Vilnius and Estonia's Nasdaq Tallinn. MiFID II passporting applies in full.
1. Regulation: FKTK and MiFID II. The FKTK (Finanšu un kapitāla tirgus komisija / Financial and Capital Market Commission) is Latvia's financial market regulator. From 2023, FKTK's functions are being integrated into the Bank of Latvia (Latvijas Banka) as part of a consolidation of financial supervisory functions. Latvia is a full EU and Eurozone member — MiFID II passporting applies. Verify regulated firms at fktk.lv.
2. CGT: 20% flat. Latvia applies a flat 20% personal income tax (IIN — iedzīvotāju ienākuma nodoklis) on capital gains from securities sales. There is no general holding-period exemption. Capital losses can typically be offset against gains in the same year. Declare in your annual income tax return with the State Revenue Service (Valsts ieņēmumu dienests — VID) by 1 June each year via the EDS (Elektroniskās deklarēšanas sistēma) e-declaration system at eds.vid.gov.lv. Latvian-registered brokers may provide tax reporting statements.
3. Dividend tax: 20% WHT. Dividends from Latvian companies are subject to 20% withholding tax. For foreign dividends, the 20% rate applies under most circumstances, with credits available under applicable double tax treaties (nodokļu konvencijas). Declare all foreign dividend income in your annual IIN return by 1 June.
4. Eurozone since 2014 — EUR-native. Latvia adopted the euro on 1 January 2014, replacing the lats (LVL) at 0.702804 LVL = 1 EUR. EU-based brokers (DEGIRO, XTB, IBKR, Trade Republic) all operate in EUR natively — no currency conversion costs for Latvian investors. SEPA transfers are free or near-free from Latvian banks. The Nasdaq Riga (OMX Riga) stock exchange trades in EUR.
5. Nasdaq Riga & OMX Baltic. Latvia's stock exchange is Nasdaq Riga (OMX Riga), part of the regional OMX Baltic market. Key Latvian-listed stocks include Latvijas Gāze (GZE1R), Latvijas Balzams (BAL1R), and DelfinGroup (DFG1R). The Baltic market is small by European standards — most Latvian retail investors access international markets through EU-passported brokers.
Top 4 Best Online Brokers in Latvia — Detailed Reviews
Commission
€0 up to €100k/month
Stocks
✓ 3,000+ global stocks
CFDs / Forex
✓ Full CFD/FX
EUR-native
✓ Yes (Eurozone)
Interest on cash
✓ Up to 4%
DG
DEGIRO
★★★★½
Best low-cost EU
Commission
€1 + €1 handling
Investor protection
€20,000 (AFM)
TR
Trade Republic
★★★★☆
Best savings plans
Savings plans
✓ From €1/month
Cash interest
✓ ~3% on uninvested
Regulation
BaFin / MiFID II
IB
Interactive Brokers
★★★★½
Best global access
Commission
From $0.005/share
CFDs / Forex
✓ Forex + futures
EUR-native
✓ Yes (CSSF LU)
Investor protection
SIPC $500k
⚠️ Investing involves risk of loss. CFD trading carries high risk — 51–80% of retail CFD accounts lose money. Capital is not guaranteed.
How to Get Started with a Broker in Latvia
1
File IIN return with VID by 1 June
Latvian tax residents must declare capital income in their annual IIN (iedzīvotāju ienākuma nodoklis) return with the State Revenue Service (VID) by 1 June each year. E-declaration via the EDS portal at eds.vid.gov.lv is standard. For Latvian-regulated brokers (Swedbank Latvia, SEB Latvia), annual tax statements in compatible format are typically provided. For foreign brokers (XTB, DEGIRO, IBKR), self-declare all gains from securities sales and dividends. The 20% IIN rate applies to all capital gains and foreign dividends. Keep annual broker statements and a transaction log for VID.
2
Open account with Latvian personas kods
Latvian-regulated brokers require your personas kods (personal identification code). For EU-passported brokers (XTB, DEGIRO, Trade Republic, IBKR), a valid EU passport or Latvian ID card plus proof of address suffices. Accounts open online within 1–2 business days. Since Latvia is in the Eurozone, SEPA bank transfers to EU brokers are standard. Latvian banks (Swedbank, SEB, Citadele banka, Luminor Latvia) all support SEPA transfers free of charge or at minimal cost.
3
EUR-native — SEPA transfers from Latvian banks
Latvia adopted the euro in 2014 — all major EU brokers operate in EUR natively. Latvian bank transfers (Swedbank Latvia, SEB Latvia, Citadele banka, Luminor Latvia) to EU brokers are SEPA transfers — free or near-free. No currency conversion costs. Citadele banka is a significant Latvian-owned bank. This EUR advantage makes DEGIRO, XTB, Trade Republic, and IBKR fully accessible to Latvian investors without FX friction.
4
PRIIPs: use UCITS ETFs — OMX Baltic for local stocks
As an EU member, Latvia is subject to PRIIPs — US-domiciled ETFs are restricted for retail investors. Use UCITS-compliant equivalents: iShares Core S&P 500 UCITS ETF (CSP1), Vanguard S&P 500 UCITS ETF (VUSA), or Vanguard FTSE All-World UCITS ETF (VWRL). For Baltic market access, Nasdaq Riga listings (OMX Baltic) are available through Swedbank Latvia and SEB Latvia brokerages. Key Latvian stocks include Latvijas Gāze (GZE1R) and Latvijas Balzams (BAL1R).
🇱🇻 Latvia: Country Environment Blueprint
Primary Watchdog
FKTK (Finanšu un kapitāla tirgus komisija / Financial and Capital Market Commission) — capital markets regulator. From 2023, FKTK functions integrating into Latvijas Banka.
www.fktk.lv EU / MiFID II
✅ Full EU member and Eurozone (since January 2014). MiFID II passporting applies — EU/EEA-regulated brokers can serve Latvian residents. UK FCA-only brokers NOT valid post-Brexit. Latvia uses EUR.
Investor Protection
€20,000 per investor under the Latvian investor compensation scheme. Bank deposits: up to €100,000 under the Latvian deposit guarantee system.
Capital Gains (Shares)
Flat 20% IIN (iedzīvotāju ienākuma nodoklis) on capital gains from securities. No general holding-period exemption. Capital losses can typically be offset against gains. Declare in annual IIN return with VID by 1 June via EDS (eds.vid.gov.lv).
Dividend Tax
Latvian company dividends: 20% withholding tax. Foreign dividends: 20% IIN applies; credits available under applicable double tax treaties (nodokļu konvencijas). Declare all foreign dividend income in annual IIN return by 1 June.
No Investment Wrapper
Latvia does not have a general tax-advantaged investment account. The third-pillar pension scheme (trešais pensiju līmenis) offers limited tax deductibility but is not a general investment account. All capital gains and dividends on ordinary brokerage accounts are taxed at 20% annually.
US ETF Access (PRIIPs)
⚠️ Latvia is an EU member — PRIIPs applies. US-domiciled ETFs restricted for retail investors. Use UCITS-compliant equivalents. XTB, DEGIRO, Trade Republic, and IBKR all offer comprehensive UCITS ETF ranges.
Domestic Exchange & Index
Nasdaq Riga (OMX Riga) · Part of OMX Baltic regional market (Latvia + Lithuania + Estonia)
Key Latvian stocks: Latvijas Gāze (GZE1R), Latvijas Balzams (BAL1R), DelfinGroup (DFG1R), SAF Tehnika (SAF1R)
🏠 Local Platforms to Know
SW
Swedbank Investīcijas (Swedbank Latvia) — Swedish banking group subsidiary, FKTK-regulated. EUR-native. Best access to OMX Baltic (Nasdaq Riga) Latvian stocks. Provides Latvian market-integrated brokerage alongside banking. Recommended for Latvian investors specifically wanting direct access to the Latvian and Baltic stock exchanges.
SEB
SEB Investīcijas (SEB Latvia) — Swedish SEB Group subsidiary, FKTK-regulated. EUR-native. OMX Baltic access. Integrated with SEB banking services. Strong Nordic and Baltic equities coverage. Suitable for existing SEB banking customers seeking integrated investing, or investors focused on the Baltic market.
CTD
Citadele banka — Latvian-owned bank with investment brokerage services. FKTK-regulated. EUR-native. OMX Baltic and broader international market access. Citadele is a significant Latvian-origin bank with operations across the Baltic states. Suitable for investors wanting a Latvian-owned independent bank with investment capabilities.
LUM
Luminor Latvia Investīcijas — Nordic-Baltic bank (Luminor) investment services. FKTK-regulated. EUR-native. OMX Baltic access. Luminor was formed from DNB and Nordea Baltic operations. Suitable for Luminor banking customers or investors seeking a Nordic-owned Baltic-focused brokerage.
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How we chose these platforms
Our team tested each platform with Latvian residents, evaluating FKTK/MiFID II regulation, 20% IIN CGT handling, 20% dividend WHT framework, EUR Eurozone account support, OMX Baltic access, and value for money. Rankings updated regularly.
Frequently Asked Questions
What is Latvia's capital gains tax rate on investments? +
Latvia applies a flat 20% personal income tax (IIN — iedzīvotāju ienākuma nodoklis) on capital gains from securities. There is no general holding-period exemption. Capital losses can typically be offset against gains. For foreign brokers (DEGIRO, XTB, IBKR), you must declare all capital income in your annual IIN return with the State Revenue Service (VID) by 1 June each year via the EDS e-declaration portal at eds.vid.gov.lv. Latvian brokers (Swedbank Latvia, SEB Latvia) typically provide annual tax statements.
What is Latvia's dividend tax rate? +
Latvian company dividends are subject to 20% withholding tax. For foreign dividends, the 20% IIN rate applies, with credits available under Latvia's double taxation avoidance treaties. You must declare all foreign dividend income in your annual IIN return with VID by 1 June. Latvian brokers typically withhold the tax automatically on domestic dividends.
When did Latvia join the Eurozone? +
Latvia adopted the euro on 1 January 2014, replacing the lats (LVL) at a fixed conversion rate of 0.702804 LVL = 1 EUR. Latvia was the second Baltic state to adopt the euro, after Estonia (2011). This means Latvian investors can fund EU-based EUR brokers (DEGIRO, XTB, Trade Republic, Interactive Brokers) via direct SEPA bank transfers at no currency conversion cost. The Nasdaq Riga (OMX Riga) exchange and all Latvian financial accounts transact in EUR.
Can EU brokers serve Latvian investors? +
Yes. Latvia is a full EU and Eurozone member and MiFID II passporting applies. XTB (KNF, Poland), DEGIRO (AFM, Netherlands), Trade Republic (BaFin, Germany), and Interactive Brokers (CSSF, Luxembourg) can all legally serve Latvian residents. Since Latvia is in the Eurozone, EUR-based EU brokers require no currency conversion. For these foreign brokers, you must declare all capital income in your annual IIN tax return with VID by 1 June via eds.vid.gov.lv.