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In this article, we delve into the world of forex trading under the purview of the Cyprus Securities and Exchange Commission (CySEC). A major regulatory body in the global financial market, CySEC provides regulatory oversight for forex trading in Cyprus, setting rigorous standards to maintain client trust and market integrity. Our exploration in this article revolves around understanding the regulatory groundwork laid by CySEC and how it affects forex brokers and traders alike.

CySEC
Established 2001
Country Cyprus
Website https://www.cysec.gov.cy/en-GB

Taking advantage of a balanced mix of qualitative and quantitative analysis fused with in-depth research, we navigate the intricate domain of CySEC-regulated forex trading to compile a comprehensive top 10 list of forex brokers under CySEC regulation. Our assessment utilized a broad spectrum of factors ranging from licensing and regulatory compliance, transparency, trading conditions, risk management tools, and support for client services.

The result - a meticulously curated ranking of top-notch CySEC regulated forex brokers that stands firm on the pillars of reliability, trust, and excellence. Read on to catch a glimpse of the conducive trading environment fostered by CySEC and how it influences our top 10 forex broker's framework.


Best CySEC Regulated Forex Brokers

Offers tight spreads and wide market range

Known for its social trading platform

User-friendly and rich education resources

more

Comparion of Best CySEC Regulated Forex Brokers

Forex Broker

License

Minimum Spread

Maximum Leverage

Minimum Deposit

Open account

Details

Compare

Regulated
0.0
1:500
$200
7.53
Regulated
0.75
1:30
$10
9.04
Regulated
0.6
1:1000
$5
Regulated
0.0
1:500
$200
8.30
Regulated
0.9
1:400
$100
8.87
Regulated
0.0
1:500
$100
7.74
Regulated
0.6
1:1000
$100

8

HFM
8.25
Regulated
0.5
1:2000
$5

9

FBS
8.75
Regulated
0.5
1:1000
$5

10

FXTM
6.55
Regulated
0.0
1:2000
$10

Best CySEC Forex Brokers Reviewed

① IC Markets

Offers tight spreads and wide market range

IC Markets is an Australian-based online forex broker that was established in 2007. It primarily caters to algorithmic traders through its offering of low spreads, fast execution, and strong international regulation. IC Markets provides a full suite of trading platforms catered to all levels of traders, including MetaTrader 4, MetaTrader 5, and the cTrader.

The broker is known for its transparency, quality execution, and outstanding customer support. IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), ensuring a high level of security for traders.

IC Markets
Overall Rating ⭐⭐⭐⭐⭐
CySEC No. 362/18
Regulation CySEC, ASIC
Min. Deposit $200
Market Instruments 2250+ CFDs on forex, commodities, indices, bonds, digital currencies, stocks and futures
Demo Account Yes
Max. Leverage 1:500
Spreads & Commissions (Forex) From 0.8 pips & no commission (Std account)
Trading Platforms MT4, MT5, cTrader
Social/Copy Trading Yes
Deposits & Withdrawals Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, Wire Transfer, Bpay, Broker to Broker, POLI, Thai/Vietnamese Internet Banking, Rapidpay, Klarna
Customer Support 24/7 live chat, phone, email
Bonus N/A

Pros:

Competitive Spreads and Commissions: IC Markets offers spreads from 0.8 pips and commission-free for the Standard account.

A Range Of Trading Platforms: IC Markets provides a wide range of platforms including MetaTrader 4, MetaTrader 5, and cTrader.

Strong Regulatory Oversight: IC Markets is regulated by leading financial authorities including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).

Cons:

× High Minimum Deposit: IC Markets requires a high minimum deposit requirement of $200, while most brokers have no initial deposit threshold.

× Availability: IC Market services are not available in certain countries, such as the United States.


② eToro

Known for its social trading platform

eToro is a global social trading platform that was launched in 2007. It is well-known for popularizing “social”, or “copy” trading, where users can follow and replicate the trades of successful individuals. With eToro, traders and investors have the ability to invest in 3000+ finaicial instruments including stocks, commodities, cryptoassets, currencies and indices.

Major features of eToro include social news feeds, copy trading options, and innovative investing tools. eToro's simplified trading platform is also suitable for beginners. It is regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC).

eToro
Overall Rating ⭐⭐⭐⭐⭐
CySEC No. 109/10
Regulation CySEC, ASIC, FCA
Min. Deposit $10
Market Instruments 3000+, Stocks, Cryptocurrencies, Currencies, Commodities, ETFs
Demo Account Yes
Max. Leverage 1:30 (retail)/1:400 (professional)
Spreads & Commissions (Forex) Around 3 pips (EUR/USD) & commission-free
Trading Platforms MT4, eToro proprietary platform
Social/Copy Trading Yes
Deposits & Withdrawals $5 withdrawal fee for $30 withdrawal amount, eToro Money, credit/debit cards, PayPal, Neteller, Skrill, Rapid transfer, iDEAL, Klarna / Sofort Banking, bank transfer, Online Banking – Trustly (EU region), Przelewy 24
Customer Support 24/5 live chat, email
Bonus N/A

Pros:

Social Trading: eToro is known for its social trading feature, which allows users to follow and copy the trades of successful traders.

Wide Variety of Assets: eToro offers a wide range of assets including Stocks, Cryptocurrencies, Currencies, Commodities, and ETFs.

User-Friendly Platform: eToro's platform is easy to use and suitable for beginners.

Strong Regulatory Oversight: eToro is regulated by several leading authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC).

Cons:

× Fees: eToro has higher fees compared to some other brokers, including withdrawal fees and inactivity fees.

× Limited Technical Analysis Tools: For advanced traders, eToro might lack in-depth technical analysis tools.


③ XM

User-friendly and rich education resources

XM is a multi-regulated and internationally recognized forex and CFD broker that was established in 2009. Based in Cyprus, XM provides a full-service trading experience by offering 1000+ trading instruments, such as forex, commodities, equity indices, precious metals, energies and shares. In terms of platforms, they offer MetaTrader 4 and MetaTrader 5, catering to the needs of both beginner and experienced traders.

XM is known for its good quality educational resources, tight spreads, fast execution, and excellent customer service. The broker has strong regulatory oversight, being regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the International Financial Services Commission (IFSC) of Belize, providing traders with a high level of security.

XM
Overall Rating ⭐⭐⭐⭐⭐
CySEC No. 120/10
Regulation CySEC, ASIC, IFSC, DFSA
Min. Deposit $5
Market Instruments 1000+, forex, CFDs on indices, commodities, stocks, metals and energies
Demo Account Yes
Max. Leverage 1:1000
Spreads & Commissions (Forex) From 1 pip & commission-free (Std account)
Trading Platforms MT4, MT5, XM WebTrader
Social/Copy Trading N/A
Deposits & Withdrawals Credit/debit cards, Paypal, Skrill Moneybookers, Neteller, WebMoney, CashU, GiroPay
Customer Support 24/7 live chat, phone, email
Bonus Up to $2,000

Pros:

Wide Variety of Trading Instruments: XM offers 1000+ trading instruments including forex, CFDs on indices, commodities, stocks, metals and energies.

User-Friendly Trading Platforms: XM provides well-known and reliable platforms: MetaTrader 4 and MetaTrader 5.

Quality Educational Resources: XM is known for offering comprehensive educational materials, which can benefit both new and experienced traders.

Strong Regulatory Oversight: XM is regulated by several major financial regulatory bodies including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission (IFSC) of Belize.

Cons:

× Inactivity Fee: XM charges a fee if the account remains inactive for a certain period.

× Withdrawal Fees: There may be withdrawal fees attached, making it potentially costly if you frequently withdraw small amounts.


④ Pepperstone

Known for its trading platforms and competitive pricing

Pepperstone is an Australian-based online Forex and CFD Broker that was established in 2010. It's recognized as one of the premier brokers offering access to a range of markets including Forex, index, commodities, cryptocurrencies, and share trades.

Known for its advanced technology, Pepperstone utilizes popular trading platforms such as MT4, MT5, and cTrader. They provide exemplary trading conditions, with tight spreads and a competitive commission structure. Pepperstone's commitment to transparency and customer service excellence differentiates it from its peers and positions it as a trusted choice for traders worldwide.

Pepperstone
Overall Rating ⭐⭐⭐⭐⭐
CySEC No. 388/20
Regulation CySEC, ASIC, FCA, DFSA, SCB
Min. Deposit $200
Market Instruments 1000+, Forex, Cryptocurrencies, Shares, ETFs, Indices, Commodities
Demo Account Yes
Max. Leverage 1:30 (EU)/1:500 (Professional)
Spreads & Commissions (Forex) Average 1.1 pips & commission-free (Std)
Trading Platforms Trading View, MT4, MT5, cTrader
Social/Copy Trading N/A
Deposits & Withdrawals Visa/Mastercard, POLi, Bank transfer, BPay, PayPal, Neteller, Skrill, and Union Pay
Customer Support 24/5 live chat, phone, email
Bonus N/A

Pros:

Access to Global Markets: Pepperstone provides low-cost access to a 1000+ global markets, including Forex, Cryptocurrencies, Shares, ETFs, Indices, and Commodities.

Advanced Platforms: It offers advanced trading platforms such as MT4, MT5, and cTrader that are chosen by many traders.

Competitive Spreads and Commissions: Pepperstone provides average spreads of 1.1 pips and no commisions on the Standard account.

Cons:

× Limited Product Portfolio: While Pepperstone offers a wide variety of tradable assets, it may not have as many as some other online brokers.

× Limited Customer Service Hours: Pepperstone only provides 24/7 customer support, while most other brokers offer 24/7 customer service.


⑤ AvaTrade

Offers extensive educational resources

AvaTrade is a globally recognized broker that offers Forex and CFD trading services. Founded in 2006, AvaTrade provides traders with a wide range of trading instruments across commodities, indices, ETFs, stocks, bonds, and digital currencies.

Located in Ireland, AvaTrade is regulated by several leading financial authorities globally, including the Central Bank of Ireland, Australian Securities and Investments Commission, and the Japan Financial Services Authority, among others. They offer multiple platforms including MetaTrader 4, MetaTrader 5 and their own AvaTradeGO. The broker also offers extensive educational resources making it a suitable platform for both experienced traders and beginners alike.

AvaTrade
Overall Rating ⭐⭐⭐⭐⭐
CySEC No. /
Regulation CySEC, ASIC, FSCA, CBI, FCA, FSA, FFAJ
Min. Deposit $100
Market Instruments 1250+, forex, stock index, stock, commodities, ETFs
Demo Account Yes ($10,000 in virtual capital, lasts for 21 days and can be renewed upon request)
Max. Leverage 1:30 (retail), 1:400 (professional)
Spreads & Commissions (Forex) Typical 0.9 pips on (EUR/USD) & commission-free
Trading Platforms MT4, MT5, WebTrader, AvaTrade Go
Social/Copy Trading Yes
Deposits & Withdrawals MasterCard, Visa, PayPal, Skrill, Neteller, Wire Transfer, etc.
Customer Support Mon - Fri 8:00 - 23:00 live chat, phone, email
Bonus Yes

Pros:

Wide Range of Trading Instruments: AvaTrade offers 1250+ trading instruments including forex, stock index, stock, commodities, and ETFs.

Multiple Trading Platforms: Besides offering popular platforms like MetaTrader 4 and MetaTrader 5, AvaTrade also provides its own AvaTradeGO platform to cater to various trading needs.

Strong Regulatory Oversight: AvaTrade is regulated by several leading financial authorities globally, including the Central Bank of Ireland, Australian Securities and Investments Commission, and the Japan Financial Services Authority, among others.

Educational Resources: It offers comprehensive educational resources beneficial for both beginners and experienced traders.

Cons:

× Withdrawal and inactivity fees: AvaTrade charges a withdrawal fee and an inactivity fee after a certain period of non-use.

× Customer Service: Some users have reported less than satisfactory experiences with AvaTrade's customer service.


⑥ FP Markets

Great platform selection and fast execution

FP Markets is a top-tier, highly regarded online forex and CFD broker that was established in 2005. Based in Australia, FP Markets offers a wide array of trading instruments including forex, indices, commodities, stocks, and cryptocurrencies. It provides both the MetaTrader 4 and MetaTrader 5 platforms, complemented by the WebTrader and Mobile App.

FP Markets is known for its tight spreads, fast execution speed, and extensive educational resources, making it a good fit for novice and experienced traders alike. The broker operates under the regulation of the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), which underscores its reliability and commitment to upholding high standards of business conduct.

FP Markets
Overall Rating ⭐⭐⭐⭐
CySEC No. 371/18
Regulation CySEC, ASIC, FSCA
Min. Deposit $100 AUD or equivalent
Market Instruments Forex, stocks, index, commodities, bonds, precious metals, cryptocurrencies
Demo Account Yes (free for 30 days)
Max. Leverage 1:500
Spreads & Commissions (Forex) From 1.0 pips & commission-free (Std)
Trading Platforms MT4, MT5, WebTrader, Mobile App
Social/Copy Trading Yes
Deposits & Withdrawals Free deposits & fees for withdrawals- China UnionPay, crypto payments, cryptocurrency solutions, credit/debit cards, bank wire transfers, Neteller, Skrill, Broker-to-broker
Customer Support 24/7 live chat, phone, email
Bonus N/A

Pros:

Multiple Trading Platforms: It provides the MetaTrader 4 and MetaTrader 5 platforms, complemented by the IRESS platform for CFD trading.

Competitive Spreads and Fast Execution: FP Markets is known for its tight spreads and quick execution speed.

Strong Regulatory Oversight: FP Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).

Extensive Educational Resources: FP Markets provides a variety of educational materials, useful for both new and experienced traders.

Cons:

× Fees: FP Markets only offer free deposits. As for withdrawals, traders have to pay some fees.


⑦ FxPro

Flexible accounts and trading tools

FxPro is an online broker that offers trading in forex and a diverse range of CFDs, including those in Stocks, Futures, Indices, Metals, Energies, and Cryptocurrencies. It was established in 2006 and has its headquarters in London, UK.

FxPro has won several awards over the years and is well known for its excellent execution speed and diverse trading platform options. The broker offers a variety of platforms, including the popular MetaTrader 4, MetaTrader 5, cTrader, and FxPro Trading Platform.

FxPro
Overall Rating ⭐⭐⭐⭐
CySEC No. 078/07
Regulation CySEC, FSCA, FCA
Min. Deposit $100
Market Instruments Forex, Stocks, Futures, Indices, Metals, Energies, Cryptocurrencies
Demo Account Yes (free and last for 180 days)
Max. Leverage 1:200
Spreads & Commissions (Forex) From 1.2 pips & commission-free (Std account)
Trading Platforms MT4, MT5, cTrader, FxPro Trading Platform
Social/Copy Trading N/A
Deposits & Withdrawals Free deposits & fees for withdrawals - Bank Transfer, Credit/Debit Cards (Visa/MasterCard/Maestro), PayPal, Skrill, Neteller
Customer Support 24/5 live chat, phone, email
Bonus N/A

Pros:

Strong Regulation: FxPro is regulated by multiple well-respected regulators, including the UK's Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

Multiple Trading Platforms: They offer several trading platforms to suit different trading styles, including MetaTrader 4, MetaTrader 5, cTrader and FxPro Trading Platform.

Execution Speed: FxPro is known for its fast trade execution speed, a crucial factor in trading.

Cons:

× High Trading Costs: Some traders have noted that the costs of trading with FxPro, including spreads and other fees, are relatively high.

× Lack of Comprehensive Educational Materials: Compared to some other brokers, FxPro's educational resources for beginners are limited.

× Regional Restrictions: FxPro does not offer Contracts for Difference to residents of certain jurisdictions including the USA, Iran and Canada.


⑧ HFM (HF Markets)

Appreciated for customer service

HF Markets, also known widely as HotForex, is a multi-regulated international forex and commodities broker. They are known for offering a wide range of account types suitable for all kinds of traders. HF Markets provides trading services on numerous instruments including forex, commodities, indices, stocks, cryptocurrencies, and more, across various platforms including MetaTrader 4 and MetaTrader 5. They stand out for their extensive educational resources, dedicated customer service, and competitive trading conditions.

HFM
Overall Rating ⭐⭐⭐⭐
CySEC No. 183/12
Regulation CySEC, FCA, DFSA, FSA, CNMV
Min. Deposit $0
Market Instruments 1000+ CFDs on Forex, Commodities, Bonds, Metals, Energies, ETFs, Indices, Cryptos, Stocks
Demo Account Yes
Max. Leverage 1:2000
Spreads & Commissions (Forex) From 1.2 pips pips & zero commissions (Cent Account)
Trading Platforms MT4, MT5, HFM App
Social/Copy Trading N/A
Deposits & Withdrawals Free for most deposits & withdrawals, Bank transfers (China UnionPay, Wire transfer), credit/debit cards (Visa/MasterCard), crypto, Fasapay, Neteller, PayRedeem, Skrill, Webmoney, bitpay
Customer Support Live chat, phone, email
Bonus N/A

Pros:

Multi-regulated: Regulated by several top-tier regulatory bodies including CySEC, FCA, and FSCA, which adds reliability.

Broad Offering: Provides access to 1000+ CFDs on Forex, Commodities, Bonds, Metals, Energies, ETFs, Indices, Cryptos, and Stocks.

Multiple Platforms: Offers both MetaTrader 4 and MetaTrader 5 platforms.

Comprehensive Educational Resources: Webinars, videos, articles, and more for both beginners and experienced traders.

Cons:

× Charges Inactivity Fee: An inactivity fee is a disadvantage for infrequent traders.


⑨ FBS

Offers competitive pricing and account variety

FBS is an international brokerage firm that specializes in providing online trading services primarily in the forex market. The company was established in 2009 and has grown significantly over the years, serving customers in more than 190 countries.

FBS offers a variety of account types to suit different trading styles, including Standard Accounts, Cent Accounts, and ECN Accounts. They also provide trading platforms including MetaTrader 4 and MetaTrader 5. FBS is known for offering competitive trading conditions such as tight spreads and high leverage.

FBS
Overall Rating ⭐⭐⭐⭐
CySEC No. 331/17
Regulation CySEC, FSC
Min. Deposit $1
Market Instruments Forex, CFDs, Stocks, Cryptocurrencies, Metals, Energies
Demo Account Yes
Max. Leverage 1:30 (retail), 1:500 (professional)
Spreads & Commissions (Forex) Floating from 0.2 pips, fixed from 3.0 pips & commission-free (Std)
Trading Platforms MT4, MT5, FBS Trader
Social/Copy Trading N/A
Deposits & Withdrawals Credit/debit cards, Bank wire transfer, Electronic wallets
Customer Support 24/7 Live Chat, Phone, Email, Telegram, Viber, WhatsApp
Bonus N/A

Pros:

Broad Offering: FBS offers a wide range of markets including Forex, CFDs, Stocks, Cryptocurrencies, Metals, and Energies.

Leverage: FBS offers flexible leverage up to 1:30 for retail clients and 1:500 for professional clients, which can maximize potential profits, though it also increases risk.

Competitive Spreads: FBS provides competitive floating spreads from 0.2 pips, particularly on major Forex pairs.

Cons:

× Regulatory Concerns: While FBS is regulated, it's not by any tier one regulatory body which can be a caution for some traders.

× Inactivity Fee: There is a fee charged from dormant accounts, which can be disadvantageous for passive traders.

× Limited Stock CFDs: The range of stock CFDs might be limited compared to other brokers.


⑩ FXTM

Known for many educational resources and research tools

FXTM, also known as ForexTime, is a global online trading platform that was established in 2011. The platform specializes in leveraged trading, providing traders with the ability to trade on FX, commodities, indices, and stocks.

FXTM is well-known for its strong emphasis on education for its users, offering numerous resources for learning about forex trading. This includes webinars, seminars, trading tools, and comprehensive educational articles. They also offer a number of account types to suit different trading styles and levels, including Standard Accounts, ECN Accounts, and more.

One notable feature of FXTM is its strong regulatory foundation. The company is regulated by multiple jurisdictions, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK.

FXTM
Overall Rating ⭐⭐⭐⭐
CySEC No. 185/12
Regulation CySEC, FCA
Min. Deposit $10
Market Instruments Forex, Commodities, Indices, Shares, Cryptocurrencies
Demo Account Yes
Max. Leverage 1:30 (EU traders)/1:2000 (non-EU traders)
Spreads & Commissions (Forex) From 1.5 pips & commission-free (Micro Account)
Trading Platforms MT4, MT5
Social/Copy Trading N/A
Deposits & Withdrawals Visa, Mastercard, Maestro, bank wire transfers, Skrill, Neteller, WebMoney, cryptocurrencies, etc.
Customer Support 24/5 live chat, phone, email
Bonus N/A

Pros:

Regulated: FXTM is regulated by several top-tier organizations, including CySEC and FCA.

Variety of Assets: Wide range of trading instruments including FX, commodities, indices, and stocks.

Multiple Account Types: Offers a range of account types to suit different trading styles.

Education & Resources: Provides comprehensive educational resources, tools, and regular market analysis.

Customer Support: Known for its responsive and multilingual customer service.

Cons:

× Geographic Limitations: Does not accept clients from some countries, including the USA.

× Spreads: The spreads in the lower-tier accounts are comparatively wide.


CySEC Regulated Forex Brokers FAQs

What is CySEC?

CySEC stands for the Cyprus Securities and Exchange Commission. It's a tier-2 financial regulatory body in Cyprus, falling under the jurisdiction of the European MiFID regulatory framework. Forex brokers regulated by CySEC are required to meet certain financial requirements and to provide regular reports to the Commission.

Moreover, client funds must be kept in segregated accounts to ensure that the broker cannot use client funds for their own operational expenses. CySEC regulation offers a certain level of security for traders, and it's a popular choice for many Forex brokers because of its links to other European financial systems.


CySEC



How does CySEC Work?

Licensing: CySEC is responsible for granting licenses to investment firms. In order for a company to be licensed, it must meet certain requirements set out by CySEC and the European MiFID regulatory framework.

Supervision: After granting a license, CySEC continues to supervise the licensed entities to ensure they continue to comply with legal and regulatory requirements. The supervision includes regular auditing of their operations, financial situation, and compliance procedures.

Enforcement: CySEC enforces fines and penalties on regulated entities that violate the rules or fail to meet standards. They also have the power to revoke licenses if violations are severe.

Client Protection: CySec requires all its regulated entities to join the Investor Compensation Fund, which can compensate retail clients in case the company fails. It also requires firms to uphold practices such as maintaining segregated client funds to ensure clients' money is protected.

Information Dissemination: CySEC regularly releases announcements about its decisions, new regulations, warnings, and sanctions.


What are CySEC Requirements for Forex Brokers?

The Cyprus Securities and Exchange Commission (CySEC) has stringent requirements for Forex brokers who wish to be regulated by them.

Minimum Capital

Forex brokers must have a minimum operational capital set by CySEC. This is meant to ensure that the broker has enough funds to function smoothly without the need to touch client funds.

Segregated Accounts

CySEC mandates that all client funds be kept in segregated accounts. This means that the funds the traders deposit must be kept separate from the broker's operational funds. This is to ensure that if the broker were to go insolvent, the clients funds would still be safe.

Regular Audits

Forex brokers regulated by the CySEC are subject to regular audits. The purpose of these audits is to ensure that brokers are properly managing their financial and operational obligations.

Compliance with the Law

Brokers have to comply with all relevant laws and regulatory standards under the Markets in Financial Instruments Directive (MiFID).

Member of the Compensation Fund

A CySEC-regulated broker is required to be a member of the Investor Compensation Fund (ICF), which can provide compensation of up to 20,000 Euros per person if the broker becomes insolvent.

Complaints Procedure

Brokers must provide traders a secure and methodological procedure for any complaints or grievances.

Risk Management

Brokers are obligated to implement effective risk management procedures and protocols.

Anti-Money Laundering Measures

Forex brokers have to enforce anti-money laundering procedures to prevent any illegal activities.


How is CySEC Compared to Other Forex Regulators?

Regulator Comparison with CySEC
FCA (UK) Both CySEC and FCA are strong regulators, but FCA is considered more stringent due to its higher capital adequacy requirements and stronger client asset protection measures.
ASIC (Australia) CySEC and ASIC have similar levels of regulatory oversight. ASIC-regulated brokers can offer higher leverage, which could be a pro or a con depending on a trader's strategy.
NFA/CFTC (USA) NFA and CFTC are considered among the strictest in the world. They impose stringent requirements and have strict capital adequacy regulations. Compared to them, CySEC might be seen as more flexible, but the U.S organizations provide perhaps the highest level of protection.
Global Regulators Being regulated by CySEC can offer a degree of reassurance as it fits into the MiFID regulatory laws of the European Union, opening up CySEC regulated brokers to the European Economic Area.


Why Trade with CySEC Regulated Forex Brokers?

Trading with CySEC regulated Forex brokers offers several advantages:

Trust and Reliability

CySEC regulation provides an assurance that the broker operates under strict regulatory requirements, fostering trust and reliability.

Segregation of Funds

CySEC requires that brokers segregate client funds from the company's own operational funds, providing an extra level of safety for your deposits.

Compensation Scheme

Brokers regulated by CySEC are obliged to be part of the Investor Compensation Fund which provides protections to traders in case the company fails.

Transparency and Fairness

The transparency and fairness of trading operations are supervised by CySEC, which helps in preventing fraudulent activities.

Conflict Resolution

In case of a dispute between the trader and the broker, CySEC provides a mechanism for complaint resolution.

Regular Auditing

CySEC performs regular audits of its regulated brokers to ensure they continue to comply with the necessary regulations.


How to Check If a Forex Broker is Regulated by CySEC?

You can verify if a Forex broker is regulated by CySEC by following these steps:

Visit the CySEC website: Go to the official website of the Cyprus Securities and Exchange Commission.

Access the Regulated Entities list: On the website, look for a list of regulated entities.


click the regulated entities“



search for regulated entities


Search for the Broker: In the list of regulated entities, search for the name of the broker you are interested in.

Verify the License: If you find the broker in the list, verify the status and number of their license. Active, valid licenses indicate that the broker is currently regulated by CySEC.

For a more straightforward approach, you can use WikiFX. Visit wikifx.com, type in the name of the broker in the search bar as shown in the screenshot below, and press enter.


use WikiFX to check


In the broker's WikiFX page, look for the “Licenses” section on the left, locate the CySEC license, and click on it. Here, you can find the complete CySEC license. This method will help you conveniently verify your broker's CySEC regulation status.


CySEC license



How to Choose a CySEC Regulated Forex Broker?

When choosing a CySEC regulated Forex broker, you should consider several factors.

Check the License

Confirm that the broker is indeed regulated by CySEC. You can do this by searching for the broker's name in the regulated entities list on the CySEC website or WikiFX. Make sure the broker's license is currently active.

Look at the Trading Conditions

This includes spreads, leverage, minimum deposit requirement, and any commissions or fees the broker charges. These should be clearly stated on the broker's website.

Assess the Trading Platform

Ensure the trading platform offered by the broker is reliable, user-friendly, and comes with necessary trading tools and features like charting tools, technical analysis, etc.

Research the Broker's Reputation

Look for online user reviews and ratings about the broker. These can give insights into the broker's reliability, customer service quality, and possible issues that other traders have faced.

Check Available Payment Methods

Look at what deposit and withdrawal methods the broker offers and ensure they are convenient for you. Check if the broker charges any fees for deposits or withdrawals.

Customer Service

The broker should provide reliable customer service. Multilingual support, live chat, email, or telephone support are often signs of a good broker.

Educational and Learning Resources

These can be especially important for beginner traders. Many reputable brokers offer resources such as articles, webinars, tutorial videos, and even demo accounts to help traders improve their skills.

Risk Management Tools

Check if the broker offers any tools to manage risk, such as stop loss and take profit orders.


Forex Risk Disclaimer

Trading Forex (foreign exchange) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, risk appetite, and the possibility of incurring losses. There is a possibility that you may sustain a loss of some or all of your initial investment and therefore you should not invest money that you can not afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.


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