Best CySEC Regulated Forex Brokers in Cyprus

Cyprus has truly become one of the main hubs of Forex Companies, popular amongst traders due to the multiple possibilities available to carry out operations across Europe through the use of relatively easy establishment conditions, Cyprus offers low taxes.  Cyprus Securities and Exchange Commission or CySEC regulate just about all of the brokers that are based and headquartered in Cyprus and there are a significant number of companies operating various types of financial activities out of Cyprus and complies with CySEC regulations too.  CySEC offers brokers easy regulatory guidelines coupled with a fast approval process that allows CySEC regulated brokers to make a start in Cyprus with the minimum of formalities.

 

CySEC Forex brokers are dominant in the industry, and there are multiple excellent brokers regulated by the CySEC to choose from.  These brokers will offer traders a multitude of trading products and brokerage services for both investors in the EU and across the globe!

Featured Forex Brokers

We decided to do all the hard work for you and guide you through the all the noise of the financial betting market. Our team of expert analysts, has created a unique collection of forex broker reviews, based on various criteria and data points for you to choose from.

Markets.com

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FPMarkets

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Veracity Markets

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CMTrading

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The Best CySEC Regulated Forex Brokers include 

 

FXTM

 

Leverage:                           1:30 | 1:200

Regulation:                       CySEC, FCA, FSCA

Min. Deposit:                   US$200

HQ:                                      Cyprus

Platforms:                         MT4, MT5

Founded in:                      2011

 

The FXTM or Forex Time company was launched in 2011 with its headquarters situated in Cyprus (Limassol) is also authorized by Financial Conduct Authority and other regulators.

 

Pros

Cons

One of the best Forex Brokers worldwide

Withdrawal fee

Regulated by the CySEC and several other Forex authorities

High Stocks trading Spread

Numerous industry awards

 

Low Deposit Requirement

 

Tight Spreads

 

 

FXTM Trading  Accounts

 

FXTM offers their clients convenience by means of separate accounts for Forex trading and Invest Accounts in the form of 6 account types.

 

  • Fast Account Opening, fully Digital
  • 6 Account types with ECN and Standard execution
  • Great options for a particular trading style
  • Low Minimum deposit
  • Free deposit

 

Standard, Cent Account and Shares Account

 

The FXTM Standard Account is a most balanced feature for all with floating spread from 1.3 pips, while FXTM Cent Account is a good starting point for beginners only asking traders to make a small deposit to start – 5$, spreads from 1.5 pips and instant execution model or Cent lots.

FXTM Shares Account is specifically designed for traders who prefer trading on stocks over 120 US shared, allowed hedging and as spreads as low as 0.1 pips.

 

ECN Accounts

 

The second group of accounts are known as FXTM ECN Accounts and are split into three features designed for specific needs:

 

  • The FXTM ECN ZeroAccount is a non-commissionable account and offers traders a low deposit of $200 to start with spreads starting from 1.5 pips with no re-quotes execution and allowed hedging, scalping features.

 

  • The FXTM ECN account enclose commission of 2$ per lot, and includes unlimited orders and traders can enjoy low spreads from 0.1 pips.

 

  • The FXTM Pro Accountis designed for professionals with a deposit of $25,000, and offers floating leverage, interbank spreads starting at 0 and a great variety of assets.

 

FXTM Trading Platforms

 

FXTM offers good range selection of markets and account features, with trading platforms which include MT4 and MT5.

 

Web Trading Platform

 

The FXTM platform, MT4 or MT5 software both offer various versions available either as WebTrading platforms or by being installed directly on any device. Web trading software is a great option for beginners and regular size traders alike, as the platform is accessible from the browser, and does not require any installation, is easy to save and to navigated.

 

Desktop Trading Platform

 

If a trader requires more tools along with powerful customization, they can choose the Desktop version. MetaTrader supports all kinds of devices including PCMAC as well as an accessible Multi Terminal which is useful for money managers. 

 

All necessary tools are included in the package, from risk management to analysis.

 

Pros

Cons

Customer-friendly design

No proprietary platform

A comprehensive range of tools

 

Automated trading capabilities

 

Clear look and feel report

 

Industry leading software

 

Education material and automated strategies available

 

 

Mobile Trading Platform

 

FXTM offers applications for mobile or tablet devices, to access an account at a trader’s personal convenience.  The design is clear and customizable.

 

In Conclusion –

 

FXTM offers a quality trading platform for both beginners and experienced traders or investors. Trading with ForexTime carries many other advantages including the account variety is very impressive.

 

Pepperstone

 

Pepperstone Limited is an online forex and CFD broker which providers traders with low-cost pricing across all forex, CFDs and commodities.

 

Pepperstone offers a range of online trading platforms which include: 

 

  • MetaTrader 4 (MT4)
  • cTrader
  • WebTrader
  • Mobile apps for iPhone, Android and tablets

 

Recently, Pepperstone has made the announcement that they will in future also be offering the MetaTrader 5 (MT5) platform.

 

Pros

Cons

Segregates client funds

Limited range of instruments

Established in 2010

 

Regulated by Financial Conduct Authority, UK and ASIC

 

Min. deposit from $200

 

 

To open a live account, traders will need to make a minimum deposit of at least $200, alternatively, Pepperstone offers a demo account. Pepperstone also offers traders over 170 different instruments to trade, including over 61 currency pairs.

 

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Mini account 

Bank Transfer

Offers STP 

Standard account 

PayPal

Low min deposit 

MAM/PAMM account 

Skrill

Offers Negative Balance Protection

Islamic account

Payoneer

 

 

Neteller

 

Pepperstone supports a wide range of languages including English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic.

 

FP Markets

 

Leverage:                           1:500

Regulation:                        ASIC, CySEC

Min. Deposit:                    100 US$

HQ:                                      Australia

Platforms:                          IRESS, MT4, MT5

Found in:                            2005

 

 

The FP Markets was established in 2005 and serves over 12,000 clients across the globe.  FP Markets connect traders to the market through electronic bridges and DMA pricing models.  FP Markets offers traders access to trade 13,000+ products ranging from ForexIndices, Commodities, Metals, Bitcoin, Cryptocurrencies, Equity CFDs, offering competitive spreads and flexible leverage throughout one account. FP Markets is marked safe as it is an established Australian broker.

 

Trading Platforms

 

Traders can choose between MT4, MT5 and IRESS platforms as well MAM and PAMM account possibility for money managers.  In addition, the platform offers one click trading, algorithmic rules, indicators, also newly launched Autochartist which allows traders to participate with comprehensive trading capabilities.

 

Accounts

 

FP Markets offer two account types with STP and ECN execution models available through MT4 or MT5 platforms. FP Markets also offers three IRESS account types which covers traders who prefer to use this particular software.

 

The minimum deposit amount is defined by FP Markets account type chosen, the Standard account requires only $100, ECN account – $100.

 

In Conclusion –

 

FP Markets is among the most awarded CFD and FX trading providers in the world and establishes a direct access to markets through sophisticated technology which provides a wide range of instruments to trade and competitive pricing.

 

XM

 

Leverage:                           1:30 to 1:888 *Depends on the entity of the group

Regulation:                       CySEC, ASIC, IFSC

Min. Deposit:                   US$5

HQ:                                      Cyprus, Australia, Belize

Platforms:                         MT4, MT5, XM WebTrader

Founded in:                      2009

 

XM operates with clients from over 196 countries and offers support in 30 languages. The main branch located in Cyprus is regulated by CySEC.  1.5 Million Traders and investors choose XM and their wide range of XM trading products on offer.

 

Accounts

 

You may be a new or professional trader so XM made an ideal choice between account types to suit your trading potential, also with a potential capability to magnify your income with a correct selection of the account type. You may open an account following simple steps of verification and submit through a fully digital process simple to navigate.

If you are new to trading a demo account is another useful tool to test trading potential which XM is offering for free use.

In addition, upon clients’ requests, the account may be referred to a swap-free/ Islamic account, which implies no swap interest and suitable for traders following Sharia laws.

 

Pros

Cons

Fast digital account opening

Account types vary according to jurisdiction

Easy switch between Demo and Live Account

 

Very Low minimum deposit

 

 

Account types

 

Four main account types are on offer – Micro, Standard, XM Ultra Low Account and Shares Accounts.

As for the account base currencies, traders can select the base currency of their preference from a large selection on offer. This range includes even South African Rand (ZAR) or Singapore Dollar (SGD), and other global currencies.

 

Platforms

 

The most popular industry platforms MT4 and MT5 are available. 

 

Web Trading

 

Accounts are directly accessible and all platforms are integrated with a full site of technical analysis, indicators and comprehensive tools, stop or trailing orders

 

Desktop Trading Platform

 

Because XM uses MT4 or its newer version MT5 traders are able to use its powerful capabilities along with automated trading or the trading robots.

 

Mobile Trading Platform

 

XM MT4 Android and iOS apps, along with XM MT5 apps are available.

 

In Conclusion –

 

XM is a well-regulated broker which offers truly transparent conditions and is extremely customer friendly.

 

Plus500

 

Plus500 is a UK based broker with offices located in the City of London.  Plus500 is one of the leading providers of Contracts for Difference (CFDs), delivering trading facilities on shares, forex, commodities, ETFs, options and indices, partnered with a range of trading technology.

 

Pros

Cons

Used by 300,000+ traders

Doesn’t allow scalping

Established in 2008

Inactivity Fee

Min. deposit from $100

Limited range of instruments

 

Plus500 offers over 2,000 different instruments to trade, including over 61 currency pairs.

 

Trading Features:

Accounts offered:

Funding methods:

Low min deposit 

Demo account

Credit cards

Guaranteed stop loss 

Standard account 

Bank Transfer

Offers Negative Balance Protection

Islamic account

PayPal

 

 

Skrill

 

Plus500 offer traders a user-friendly custom trading platform, which is available as a downloadable program or as a browser based WebTrader.

 

XTB

 

XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe.  XTB is regulated by some of the world’s biggest supervision authorities and has been listed on the Warsaw Stock Exchange since 2016.

 

Unique Features of XTB

 

XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:

 

  • xStation 5
  • MT4

 

XTB is different from other brokers in three main aspects: its trading platform, their level of educational and analytical materials, and a high level of support.  XTB offers free educational material in the form of their online Trading Academy and video tutorials.

 

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.

 

Pros

Cons

Used by 230,000+ traders

Doesn’t offer VPS

Established in 2002

Limited range of instruments

Regulated by Financial Conduct Authority

Not ASIC Regulated

Min. deposit from $1

 

 

To open a live account, traders will need a minimum deposit of at least $1.

 

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Offers STP 

Mini account 

PayPal

Low min deposit 

Standard account 

Skrill

Guaranteed stop loss 

Islamic account

Payoneer

Offers Negative Balance Protection

 

Netelle

 

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

 

EasyMarkets

 

EasyMarkets Is the Best Forex Broker for Beginners in Nigeria and is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:

 

  • Enhanced risk management tools as standard
  • Fixed spreads on all forex pairings
  • An easy to use forex trading platform

 

Risk Management Tools Offered by EasyMarkets

 

Guaranteed Stop Loss Orders

 

Most forex brokers in Nigeria offer stop-loss orders which will exit a trader when a set profit or loss is made on any trade, but the issue exists that when a market has low liquidity or experience high turbulence the CFD provider won’t be able to exist the trader at the set price, this is known as slippage and can lead to unexpected losses exceeding traders’ expectations.

EasyMarkets make all stop-loss ordered guaranteed stops meaning the maximum losses set are guaranteed to be locked in or the FX broker will cover the difference.

 

Negative Balance Protection

 

Similar to stop losses, negative balance protection helps stop a trader’s losses before it exceeds their expectations, but in this case, rather than protecting losses exceeding the amount set on a single trade, this stops overall losses from exceeding deposits. EasyMarkets guarantees traders that they will not lose more than their balance and if this does occur, they will cover the difference.

 

EasyMarkets

 

EasyMarkets was founded in 2001 with the mission to transform trading from an activity exclusively for wealthy individuals and institutions, into a market that anyone could access, with initial deposits from $25.

 

Pros

Cons

Segregates client funds

Doesn’t offer VPS

Established in 2003

Limited range of instruments

Regulated by CySEC and ASIC

Not FCA Regulated

Min. deposit from $1

 

 

To open a live account, traders will need to make a minimum deposit of at least $1 and a demo account is also on offer.  EasyMarkets offers traders over 191 different instruments to trade, including over 135 currency pairs.

 

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Low min deposit 

Mini account 

Payoneer

Guaranteed stop loss 

Standard account 

Neteller

Offers Negative Balance Protection 

Islamic account

 

 

EasyMarkets support a wide range of languages including English, German, Arabic, Greek, Russian, Chinese, Spanish, French, Polish, and Hebrew.

 

Admiral Markets

 

Admiral Markets is a forex and CFD broker who gives traders access to major markets like currencies, indices, commodities and shares alongside cryptocurrencies like Bitcoin, Admiral Markets is one of the few brokers that offer cryptocurrency CFDs.

 

Pros

Cons

Segregates client funds

Inactivity Fee

Established in 2001

 

Regulated by Financial Conduct Authority, CySEC

 

Min. deposit from $100

 

 

Admiral Markets offers traders over 4000 different instruments to trade, including over 47 currency pairs.

 

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Offers STP 

Mini account 

Skrill

Low min deposit

Standard account 

Payoneer

 

ECN account

Neteller

 

Admiral Markets support a wide range of languages including English, Spanish, Hungarian, Bulgarian, Czech, German, Dutch, French, Estonian, French, Greek, Latvian, Lithuanian, Moldovian, Croatian, Slovenian, Polish, Russian, Serbian, Romanian, Ukrainian, and Croatian.

 

Swissquote

 

Swissquote is best suited for traders who require a multi-asset solution.

 

Is Swissquote Safe?

 

Swissquote is considered low-risk, and is a publicly traded company, operates a regulated bank, and is authorised by four tier-1 regulators (high trust), one tier-2 regulator (average trust), and no tier-3 regulators (low trust).

 

Swissquote offers trading of underlying cryptocurrencies (non-CFDs), including bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. Swissquote clients can trade ten cryptocurrency pairs from within the Trading account.

 

Commissions & Fees

 

The commissions and spreads from Swissquote’s UK entity, Swissquote Ltd, differ slightly from its Switzerland entity, Swissquote Bank Ltd.

 

UK entity: At Swissquote’s UK entity, if an active trader deposits at least $10,000, the Elite account is available. It comes with a commission of 5 EUR (2.5 per side) per Round-Turn (RT) trade, in addition to low prevailing spreads.

 

Account comparison: A Standard, Premium, and Prime (Elite in the UK) account are offered at both Swissquote’s UK and Swiss entity.

 

Platforms & Tools

 

Proprietary platform suite: Advanced Trader (desktop and web versions

Full MetaTrader suite: (MT4 desktop, MT4 web, and MT5)

 

Advanced Trader web: The web-based version of Advanced Trader requires flash, making it unsupported in most major browsers.

 

Advanced Trader desktop: The desktop version of Advanced Trader, features 49 indicators (17 overlays and 32 studies) alongside 16 drawing tools and integrated chart patterns. The platform is Java-based.

 

Research

 

Swissquote provides an industry standard offering – streaming news headlines, economic calendar, blog commentary and more.

 

Tailored products and content: Swissquote’s research team helps structure some products, such as the exchange-traded certificate for crypto. Swissquote also provides analysis and market commentary and publishes a high-quality, bi-monthly magazine.

 

Third-party tools: Swissquote offers traders access to Trading Central and AutoChartist.

 

Customer Service

 

Average Connection Time: <1 minute

Average Net Promoter Score: 7.3 / 10

Average Professionalism Score: 7.2 / 10

Overall Score: 7.67 / 10

Ranking: 13th of 22 brokers

 

Swissquote’s Advanced Trader mobile app is easy and straight-forward to use but, for traders who prefer not to use Swissquote’s mobile app, MetaTrader is available.

 

Alpari

 

Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms.

 

Alpari User likes and Dislikes:

 

Likes

Dislikes

Licensed in Russia, Belarus, Mauritius, Belize, St. Vincent & the Grenadines

Product offering segmented across global brands

Wide range of MT4/MT5 account types

Narrow range of CFD trading instruments

Launched CFDs on Bitcoin

Less research content on English site compared to Russian version

Member of External Dispute Resolution (EDR) organization

 

 

 

Is Alpari Safe?

 

Alpari is considered high-risk, and is not publicly traded and does not operate a bank. Alpari is authorised by zero tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust).

 

Commissions & Fees

 

The commissions and fees at Alpari are varied and depend on the account type and platform used.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:33 / 10
  • Average Professionalism Score:2 / 10
  • Overall Score:5 / 10
  • Ranking:26th in 43 brokers

 

Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker.  The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.

 

eToro

 

eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert.

 

eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.

 

Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.

 

eToro trading accounts on offer include:  Demo, Micro, Mini, Standard, STP and Islamic.  eToro supports a wide range of languages including English, German, Spanish, French, and Italian.

 

OctaFX

 

OctaFX is a global online broker which was founded in 2011 and offers Forex trading and for those who are looking to make a start, a minimum deposit of $5. A demo account is also on offer for those wishing to acquaint themselves with OctaFX – both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform is on offer.  OctaFX also offer mobile apps for Android and iOS.

 

OctaFX are able to accommodate various levels of traders and has won numerous industry awards over the past 9 years. OctaFX doesn’t charge commission on CFD instruments.

 

OctaFX Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

OctaFX Trading Accounts on Offer include demo, Micro, Mini, Standard, zero spread, STP and Islamic and is regulated by Financial Conduct Authority (FCA).

 

FXPro

 

FXPro is a forex and spread betting broker which gives traders access to major markets like currencies, indices, commodities and shares and cryptocurrencies like Bitcoin.

 

Pros

Cons

Segregates client funds

Not ASIC Regulated

Established in 2006

 

Regulated by Financial Conduct Authority, CySEC, DFSA and SCB

 

Min. deposit from $100

 

 

To open a live account, traders will need to make a minimum deposit of at least $100.  FXPro offers over 285 different instruments to trade, including over 75 currency pairs.

 

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Micro account 

Credit cards

Allows hedging 

Mini account 

Bank Transfer

Low min deposit 

Standard account 

PayPal

Offers Negative Balance Protection 

Islamic account

Payoneer

 

 

Neteller

 

FXPro support a wide range of languages including Arabic, Chinese, English, French, German, Hungarian, Romanian, Turkish, Czech, Slovak, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese.

 

What is CySec regulation?

 

The Cyprus Securities Exchange Commission or CySec, is the sole regulator for the financial industry in the island of Cyprus. As Cyprus is a member of the European Union, CySEC abides to the rules and regulations set by Markets in Financial Instruments Directive (MiFID). MiFID was established back in 2008 by the European parliament, in order to harmonize the regulations governing the financial services industry within the countries of the Eurozone. It established the standards for financial services providers to follow. It is primarily focused on over the counter transactions such as the forex trading and other leveraged products. It is interesting to note that, CySEC managed to become the first major regulatory body in Europe to recognize and regulate binary options as a financial instrument.

 

What does a CySEC regulation mean for traders and investors?

 

So, what does trading with a CySEC regulated forex broker means for investors and traders?  The majority of regulated forex brokers in the world, fall under the jurisdiction of CySEC. The regulations imposed by CySEC have a strong impact on investors worldwide, as forex brokers under the oversight of CySEC are required to operate in a fully compliant way with transparency.

 

CySEC enforces the following rules and safeguards that protect traders and investors

 

  • All investor monies are kept in segregated accounts which the broker is not permitted to access. Put simply, the broker is not allowed to use client money for its own operational needs.
  • Forex Brokers under CySEC are required to maintain sufficient capital in order to meet the capital adequacy ratio requirement. This is ensuring that the broker has sufficient capital to fulfil its contractual obligations at any given time.
  • CySEC regulated brokers are required to submit on a regular basis, their financial statements so that the regulatory agency can monitor if they comply with all requirements.
  • Forex Brokers under CySEC need to join the Investor Compensation Fund Scheme to get their operational license. The purpose of this fund is to protect investors in the event that broker goes bankrupt and is unable to fulfil its contractual obligations. Under this protection scheme, an investor’s investment is protected up to the maximum amount of 20,000 euros.

 

In Conclusion –

 

CySEC’s main objective is to protect the interest of their investors. As the regulator with the most EU registered brokers, CySEC plays a massive role in the Forex industry and millions of traders rely on and trust in their ability to ensure a fair-trading environment. And in the end – One of the most important factors when it comes to online Forex trading is regulation!