The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory agency based in Cyprus. In this article, we reveal the pros and cons of our 15 Best CySEC Forex Brokers and we review the features, tools, platforms, trading conditions and instruments these brokers offer.
What does the CySEC do?
CySEC aims to effectively supervise brokers and financial service providers to ensure that investors are protected and have access to fair markets and transparent trading conditions.
Many brokers that offer crypto assets are regulated by CySEC and this organization also supervises and regulates the Cyprus Stock Exchange.
The CySEC takes Corporate Social Responsibility (CSR) very seriously and its employees have made great charitable efforts in improving society every year since 2012.
The CySEC regulates brokers and financial services firms through a complex authorisation and verification process with the enforcement of international standards and regulations and supervises registered companies on an ongoing basis.
Any CySEC-regulated broker or financial firm found breaking the CySEC laws will face serious disciplinary consequences.
The CySEC integrates the following laws into its regulatory framework:
- The Public Offer and Prospectus Law
- The Insider Dealing and Market Manipulation Law
- The Public Takeover Bids Law
- The Transparency Requirements Law
How to check if a broker is regulated by the CySEC
If you want to make sure the broker you are trading with is regulated by the CySEC, you can check the broker’s unique CySEC registration number and search for it on the CySEC register list.
All you need to do is go to the CySEC website, click on the “Regulated Entities” tab and choose an option from the drop-down menu.
Every broker that has an active CySEC license and is authorised to provide trading services will be found on the official CySEC register.
What to do if you have a complaint
If you have reason to believe that you have been treated unfairly by a CySEC-regulated broker or you have found an unauthorised broker that claims to have a false CySEC service license, you can lodge an official complaint on the CySEC website.
Under the “Investor Protection” tab, you will find information about consumer rights, known scams and how to avoid them, applying for compensation and everything else you need to know as a consumer and member of a CySEC-regulated firm.
Admirals
USD 1 ASIC, FCA, EFSA, CySEC 📱 Platforms MT4, MT5, Admirals app ₿ Crypto Yes 💵 Account Currency USD, CHF, EUR, BGN, HRK, PLN, RON, CZK, HUF, GBP Yes 1:30 🛒 Instruments Forex, Commodities, Indices, Stocks, ETFs, Bonds 🏛️ Visit Broker
Minimum Deposit
Regulators
Islamic Account
Leverage
Admirals offers a more comprehensive range of financial products and services since its recent rebranding.
It is a multi-regulated broker and licensed financial provider that offers 5 types of trading accounts that can be used with the MetaTrader platforms and tools.
Admirals also offers a variety of analysis and research tools, as well as heat maps, market sentiments and economic calendars.
Clients can use TradingCentral and news updates on markets to make more informed decisions.
Admirals allows the use of Expert Advisors and offers a learning centre for beginners.
Admirals Pros and Cons:
| ✔️Pros | ❌Cons |
| Great range of research tools | Cash rebates only available to UK and Australian clients |
| Variety of accounts offered | Inactivity fees |
| Negative balance protection | |
| Good selection of educational content |
Exness
Overall Rating Rated #1 of USD 10 FSA, CBCS, FSC, FSC, FSCA, CySEC, FCA 📱 Platforms MT4, MT5 ₿ Crypto Yes 💵 Account Currency USD, EUR, ZAR, CHF, NZD, SGD, JPY, AUD Yes 1:unlimited 🛒 Instruments 100+ Forex, Cryptocurrencies, Energies, Metals, Shares, Stocks, Commodities 🏛️ Visit Broker
4.9/5
Recommended FX BrokersMin. DepositRegulators Islamic Account Leverage
Exness is regulated by FSC, FCA, CySEC, CBCS, FSCA, FSA and SFSA and has more than 340,000 clients.
Exness offers instant withdrawals 24/7 and any deposits or withdrawals made using bank cards, internet banking, Skrill, Neteller, Mybux or Ozow are instant.
A minimum deposit of $10 is required to open an account with Exness and you can fund your account using ZAR, SGD, EUR, NZD, CHF, JPY, AUD or USD.
Exness Pros and Cons:
| ✔️Pros | ❌Cons |
| No inactivity fees | No trading bonus |
| CySEC-regulated | |
| 20+ cryptocurrencies | |
| 100+ Forex pairs |
IronFX
Overall Rating USD 100 FCA, CySEC, ASIC 📱 Platforms MT4, IronFX PMAM Platform, TradeCopier ₿ Crypto No 💵 Account Currency USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK Yes 1:1000 🛒 Instruments Forex, Indices, Metals, Commodities, Futures, Shares 🏛️ Visit Broker
4.6/5
Minimum Deposit Regulators Islamic Account Leverage
IronFX is used by more than 1 million traders and is available in 180 countries across the globe.
IronFX offers over 300 tradable instruments and a total of 7 trading accounts that can be used with Trading Central tools, reliable market news updates and the IronFX Trading School for clients who are new to trading.
IronFX accounts have flexible leverage, trading bonuses, tight spreads and more, and can be used on the MetaTrader 4 platform.
IronFX has been around since 2010 and has won many awards over the last decade.
IronFX Pros and Cons:
| ✔️Pros | ❌Cons |
| Low spreads | Not available to US clients |
| Commission-free trading | No Crypto trading |
| Fixed spreads offered | |
| Beginner-friendly |
HYCM
Overall Rating USD 100 FCA, CySEC, CIMA, DIFC 📱 Platforms MT4, MT5 ₿ Crypto Yes 💵 Account Currency USD, GBP, EUR, AED Yes 1:500 🛒 Instruments Forex, Stocks, Indices, Cryptocurrencies, Commodities, ETFs 🏛️ Visit Broker
4.3/5
Minimum Deposit Regulators Islamic Account Leverage
HYCM is trusted by more than 30 million traders and has over 2 decades of experience in the trading industry.
HYCM offers more than 300 trading instruments and 3 account types.
The spreads offered by HYCM start at 0.1 pips and clients can swap to Islamic accounts on all account types.
HYCM offers variable, fixed and raw spreads respectively and clients have the option to trade with no commission fees.
HYCM Pros and Cons:
| ✔️Pros | ❌Cons |
| More than 300 products | Not available in USA |
| Suitable for beginners | Monthly penalty for inactivity |
| Regulated | |
| Negative Balance Protection |
Swissquote
Overall Rating USD 1000 FINMA, FCA, DFSA, SFC, MFSA, MAS 📱 Platforms Advanced Trader, MT4, MT5 ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, CHF, JPY, AUD, CAD, NZD, PLN, SEK, DKK, NOK, HUF, TRY, ZAR, SGD, MXN, HKD, THB, ILS, AED Yes 1:100 🛒 Instruments Forex, Stocks, Commodities, Bonds, Indices, Crypto 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
Swissquote is a multi-regulated international Forex and CFD broker that offers more than 400 Forex and CFD instruments, 26 cryptocurrencies and more.
Clients can choose from 4 types of accounts that can all be used with Expert Advisors and can be funded with 15 different base currencies.
Swissquote is compatible with 4 popular trading platforms and also offers its own proprietary platform, known as Advanced Trader.
For beginners, Swissquote provides educational webinars, training courses, tutorials and more.
Swissquote Pros and Cons:
| ✔️Pros | ❌Cons |
| Allows Day trading and Swing trading | Expensive trading fees |
| Multi-regulated broker | Not regulated by CySEC or ASIC |
| Great selection of educational resources | Inactivity fee |
eToro
Overall Rating USD 50 FCA, CySEC, ASIC 📱 Platforms eToro app, OpenBook, eToro CopyTrade ₿ Crypto Yes 💵 Account Currency USD, AUD, CNY, CAD, GBP, EUR, JPY, RUB Yes 1:30 🛒 Instruments Stocks, Commodities, Indices, Forex, ETFs, Cryptocurrencies 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
eToro has grown into the most trusted and popular NASDAQ100 and stocks brokers around.
The eToro platform is user-friendly and offers a dedicated trading academy for new traders, and is a great option for traders who are interested in Copy trading or Social trading.
eToro is available to US citizens, unlike most other brokers, and has a total of over 17 million clients from across the globe.
eToro Pros and Cons:
| ✔️Pros | ❌Cons |
| Supports CopyTrading | Difficult to find detailed account information |
| Supports Social trading | Forex fees are high |
| Flexible leverage | Withdrawal fee of $5 |
| Free stock and ETF trading in EU |
Alpari
USD 5 FSC 📱 Platforms MT4, MT5, Alpari Mobile ₿ Crypto No 💵 Account Currency USD, EUR, GBP, NGN Yes 1:1000 🛒 Instruments Forex, Metals, CFDs 🏛️ Visit BrokerMinimum Deposit Regulators Islamic Account Leverage
Founded over 20 years ago, Alpari has more than 2 million loyal clients.
Alpari offers more than 200 instruments and 4 account types that are split into standard accounts and ECN accounts.
Demo accounts are available for new clients and beginners, and clients of the Muslim faith can make use of the swap-free accounts on the MT4 platform.
Alpari is committed to teaching new traders about the basics of trading and also supports Copy Trading.
Alpari Pros and Cons:
| ✔️Pros | ❌Cons |
| Referral program | Only 4 base currencies supported |
| Supports Copy Trading | Limited variety of instruments |
| Flexible account types | Clients from Japan, Russia and USA cannot use Alpari |
| Massive client base |
OctaFX
Overall Rating USD 100 FSA, SVGFSA 📱 Platforms MT4, MT5, OctaFX app ₿ Crypto Yes 💵 Account Currency EUR, USD Yes 1:500 🛒 Instruments Forex, CFDs, Stocks, Commodities, Cryptocurrencies 🏛️ Visit Broker
3.7/5
Minimum Deposit Regulators Islamic Account Leverage
Founded in 2011 and available in 100 countries, OctaFX has more than 6 million trading accounts opened and offers 3 account types that support hedging, scalping and expert advisors.
OctaFX gives new traders the option to use the copy trading app which is a beginner-friendly platform, demo accounts, and a comprehensive variety of educational content.
New traders can use OctaFX to learn about the basics of trading and have access to a great selection of educational content that can be used along with the demo account.
OctaFx Pros and Cons:
| ✔️Pros | ❌Cons |
| Low minimum deposit | Limited product offering |
| Tight spreads | Only 2 base currencies accepted |
| CopyTrader-friendly | |
| Compatible with popular platforms |
IC Markets
Overall Rating USD 200 FSA, CySEC, ASIC 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF Yes 1:500 🛒 Instruments Stocks, Commodities, Indices, Forex, Bonds, Crypto, Futures 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
IC Markets has evolved into a leading ECN broker and its product portfolio consists of more than 1,780 tradable instruments.
The accounts offered by IC Markets can be used as Islamic accounts and demo accounts and are suitable for Day trading, Scalping and retail trading.
IC Markets provides a range of trading tools, such as alarm managers, stealth orders, trading terminals, and session matrices and maps.
IC Markets Pros and Cons:
| ✔️Pros | ❌Cons |
| Multiple accounts offered | Not available to US citizens |
| Secure VPS server | No investor protection for non-EU clients |
| 10 base currencies supported |
XTB
Overall Rating USD 0 FCA, KNF, CySEC, IFSC 📱 Platforms xStation 5 ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, HUF Yes 📊 Leverage 1:500 🛒 Instruments 2,100+ Forex, Commodities, Indices, Crypto, Stocks, ETFs, CFDs 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account
XTB has over 400,000 active clients and offers one account type that can be used to trade more than 2,100 instruments.
New traders can use the educational resources provided by XTB to learn about the basics of trading, and different training courses are provided, depending on their experience levels.
XTB’s customer support team can be contacted via live chat, email and telephone and the help centre offers resolutions to the most common queries.
XTB Pros and Cons:
| ✔️Pros | ❌Cons |
| Accounts can be funded with 5 currencies | Penalty fee for inactivity |
| No minimum deposit required | Not available to US citizens |
| Beginner-friendly | |
| Reliable customer support team |
Pepperstone
Overall Rating USD 200 ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency USD, GBP Yes Low 🛒 Instruments Forex, Crypto, Shares, ETFs, Indices, Commodities 🏛️ Visit Broker
4.0/5
Minimum Deposit Regulators Islamic Account Leverage
Pepperstone is a highly-regulated Forex and CFD broker that supports 3 popular platforms and facilitates Social trading.
Pepperstone offers 2 account types and both accounts have guaranteed competitive spreads and clients can choose to trade commission-free.
Pepperstone provides a variety of helpful tutorials and trading guides for beginners, along with SMART tools, Autochartist and Figaro.
Pepperstone Pros and Cons:
| ✔️Pros | ❌Cons |
| Regulated in several jurisdictions | Only one account type |
| Good customer service experience | Educational content is somewhat lacking |
| Great product portfolio | |
| No inactivity fee |
Instaforex
Overall Rating USD 1 FSC, BVI, CySEC 📱 Platforms MT4, MT5, InstaTick Trader ₿ Crypto Yes 💵 Account Currency EUR, USD Yes 1:1000 🛒 Instruments Forex, Stocks, Indices, Metals, Oil, Gas, Commodity Futures, Crypto, InstaFutures 🏛️ Visit Broker
3.9/5
Minimum Deposit Regulators Islamic Account Leverage
Instaforex is a low-risk forex broker that is regulated by BVI, CySEC and FSC.
A minimum deposit of only 1 USD is required to trade with Instaforex and they offer 2 accounts that can be used to trade Indices, Commodities, Metals, Oil, Crypto, InstaFutures Stocks, Futures, Gas and Forex pairs.
InstaForex has more than 7 million clients worldwide and clients can trade on MT4, MT5, InstaTick Trader and Multiterminal.
InstaForex Pros and Cons:
| ✔️Pros | ❌Cons |
| Beginner-friendly | 2 base currencies |
| Low minimum deposit | No US clients |
| Negative Balance Protection | |
| Many asset classes |
FxPro
Overall Rating USD 100 FCA, CySEC, FSCA 📱 Platforms FxPro platform, cTrader, MT4, MT5 Yes 💵 Account Currency EUR, USD, GBP, CHF, PLN, AUD, JPY, ZAR Yes 📊 Leverage 1:200 🛒 Instruments Forex, Metals, Indices, Shares, Energies
4.6/5
Minimum Deposit Regulators Islamic Account
FxPro has more than 2.1 million clients and was founded in 2006.
FxPro offers 2100+ instruments and a single account that can be used to trade all instruments.
FxPro is a licensed and regulated broker based in the United Kingdom.
FxPro Pros and Cons:
| ✔️Pros | ❌Cons |
| CySEC-regulated | No commodities or crypto |
| 7+ Base currencies | Inactivity fees |
| Good for copy trading |
FXTM
Overall Rating USD 10 CySEC, FCA, FSC 📱 Platforms MT4, MT5, FXTM Trader ₿ Crypto No 💵 Account Currency USD, EUR, GBP, NGN Yes 1:2000 🛒 Instruments Metals, Stocks, CFDs, Indices, Forex, Commodities 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
FXTM is a low-risk, beginner-friendly broker that has more than 2 million clients.
FXTM was founded in 2011 and offers 3 types of accounts.
FXTM provides plenty of intuitive trading tools and strategy tools, along with tight spreads and commission-free trading.
FXTM Pros and Cons:
| ✔️Pros | ❌Cons |
| Low minimum deposit | No USA clients |
| CySEC-regulated | Inactivity fees |
| Trading bonuses |
RoboForex
Overall Rating USD 10 IFSC, CySEC 📱 Platforms MT4, MT5, cTrader, R Stocks Trader ₿ Crypto Yes 💵 Account Currency USD, EUR, RUB, CNY, GOLD, BTC Yes 1:2000 🛒 Instruments Forex, Indices, Stocks, Metals, Commodities, ETFs 🏛️ Visit Broker
4.7/5
Minimum Deposit Regulators Islamic Account Leverage
RoboForex is a beginner-friendly CFD broker that was founded in 2009.
RoboForex is the holding company of RoboMarkets and both brokers offer flexible accounts and cashback rewards.
There are 5 types of accounts that you can open with RoboForex and you can use the proprietary tools provided to build strategies and use expert advisors.
RoboForex Pros and Cons:
| ✔️Pros | ❌Cons |
| Low minimum deposit | No crypto |
| Free VPS | No USA clients |
| CySEC-regulated | |
| Negative Balance Protection | |
| Multiple platforms |
Conclusion
By trading with one of our top CySEC-regulated brokers, you will have extra protection and security.
We strongly advise against trading with offshore brokers that are not officially regulated. Not all unregulated brokers are fraudulent, but the chances of getting scammed by one will be much higher.
In our opinion, the more licenses a broker has, the safer it is to trade with that broker. The CySEC is by far, one of the biggest financial regulators in the world, so trading with a CySEC-regulated broker is one of the safest ways to trade.
These brokers will face serious legal consequences if they do not honour CySEC standards and the CySEC will always put the consumer first.
The CySEC determines the leverage brokers offer, the minimum deposits and trading fees they charge and all other aspects of trading that affect consumers.
All regulated brokers are encouraged to be transparent about their pricing and to make important documents and information accessible.
This organization also prohibits any fraudulent activity or trading conditions that are not in the consumer’s best interests, so why trade with an unregulated broker when you can trade with one of our 15 Best CySEC Forex Brokers?
We hope that this review will help you find a broker that aligns with your trading goals so that you can trade with confidence and peace of mind.
Good luck with your trading!
FAQ
What is the CySEC?
CySEC (Cyprus Securities and Exchange Commission) is a regulatory framework that is based in Cyprus. Many brokers that offer crypto assets are regulated by CySEC and this organization also supervises and regulates the Cyprus Stock Exchange.
What does the CySEC do?
CySEC aims to effectively supervise brokers and financial service providers to ensure that investors are protected and have access to fair markets and transparent trading conditions.
What jurisdiction is the CySEC?
Cyprus
Which laws apply to CySEC?
The laws related to the CySEC are:
- The Public Offer and Prospectus Law
- The Insider Dealing and Market Manipulation Law
- The Public Takeover Bids Law
- The Transparency Requirements Law
