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AuthorAuthor: Jeffrey CammackPublished: Oct 14, 2019
EditorEditor: Alison HeyerdahlUpdated: Dec 7, 2023

Last Updated On Dec 7, 2023

Jeffrey Cammack

The Cyprus Securities and Exchange Commission (CySEC) is the European regulator based in Cyprus. Following the ESMA policies, CySEC ensures that Forex brokers adhere to strict rules to ensure they treat their clients fairly. 

However, not all CySEC-regulated brokers are right for all traders. Some traders may be looking for a beginner-friendly option with low-risk accounts and good educational materials, while others want the lowest possible trading costs, or great trading tools. We have curated a list of the best CySEC brokers for a variety of traders with differing needs.

These are the best CySEC-regulated brokers for 2024 according to our testing and our research.

1

Octa

Lowest Trading Fees

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2

XM

Best Education and Low Costs

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3

HFM

Best Trading Analysis App

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4

XTB

Best Proprietary Platform

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5

IC Markets

Best Beginner-friendly Broker

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6

Tickmill

ECN Broker with Lowest Commission

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7

FxPro

Best Trading Execution

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8

FP Markets

Raw Spreads on MT4, MT5 and cTrader

Visit

The best CySEC regulated Forex brokers for 2024

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Broker
Broker Score
Official Site
CySEC License
Min. Deposit
Max. Leverage
Beginner Friendly
EUR/USD - Standard Spread
Cost of Trading
EUR/USD - Raw Spread
Total CFDs
Currency Pairs
Platforms
Website Language: English
Support Language: English
Compare
Octa
4.37 /5
Read Review
Visit Broker >
67.65% of retail CFD accounts lose money
372/18USD 25500:1800.60 pipsUSD 60.60 pips24952MT4, MT5, OctaTrader
XM
4.45 /5
Read Review
Visit Broker >
75.33% of retail CFD accounts lose money
120/10USD 51000:1800.60 pipsUSD 60.60 pips155457MT4, MT5
HotForex
4.53 /5
Read Review
Visit Broker >
72.90% of retail CFD accounts lose money
183/12USD 0500:1801.00 pipsUSD 100.10 pips123053MT4, MT5, HFM Trading App
XTB
4.39 /5
Read Review
Visit Broker >
78% of retail CFD accounts lose money
169/12USD 030:1800.70 pipsUSD 70.70 pips521157xStation5
IC Markets
4.56 /5
Read Review
Visit Broker >
70.81% of retail CFD accounts lose money
362/18USD 20030:1600.10 pipsUSD 80.02 pips174464MT4, MT5, cTrader, TradingView
Tickmill
4.58 /5
Read Review
Visit Broker >
71% of retail CFD accounts lose money
278/15USD 10030:1800.00 pipsUSD 60.10 pips20962MT4, MT5
FxPro
4.39 /5
Read Review
Visit Broker >
71.58% of retail CFD accounts lose money
078/07USD 100200:1801.40 pipsUSD 140.40 pips224170MT4, MT5, cTrader, FxProEdge
FP Markets
4.40 /5
Read Review
Visit Broker >
79% of retail CFD accounts lose money
371/18AUD 10030:1800.10 pipsUSD 70.10 pips1016270MT4, MT5, cTrader, IRESS

How to compare CySEC-regulated brokers

CySEC is a tier 2 financial regulatory agency from Europe. They are a modern and well-funded organization and often the first to make regulatory changes needed to protect would-be traders and maintain fairness in the CFD industry. Generally speaking, CySEC-regulated brokers can be considered safe. Still, some few CySEC-regulated brokers have a history of controversy, and the regulator has only taken limited action on behalf of clients and partners. But it is essential to look at the detail of each broker to find out what differentiates them from each other. When comparing CySEC-regulated brokers consider:

Regulation: While your broker is CySEC-regulated, your trading account may not be. It is increasingly common for CySEC-regulated brokers to onboard clients onto a different license where trading conditions, like leverage, can be increased without CySEC oversight. While this is not fundamentally bad, the trader should know their trading account is regulated and that CySEC will not enforce their regulations in overseas territories. If you value the regulatory oversight of CySEC, don’t trade that for adjusted trading conditions.

Platform choice: Traders have a wide range of industry platforms to choose from, each with pros and cons. When comparing brokers, always consider the platform options, as unique features or a wide variety of platforms could change your trading experience. 

Trading costs: Every broker will charge for their services, but each will have different pricing models and costs. While ECN brokers will charge a smaller spread and a commission based on volume, market maker brokers will charge a wider spread. We compare brokers by looking at what 1 lot of EURUSD costs to trade and would encourage traders to do the same in comparing costs. 

MetaTrader 4 is still the industry standard, but many brokers offer MetaTrader 5 and their proprietary platforms. ECN/STP brokers will often support cTrader as it is built specifically for market execution and only allows for minimal broker interference.

Minimum Deposit: The minimum deposit could change by account type, with higher minimum deposits often linked to better conditions. Always consider the minimum deposit specific to the account type you may open. 

Deposit and Withdrawal Methods: Most brokers accept credit cards and bank transfer payments, and many accept online payments through Skrill and Neteller, and some will also accept Bitcoin. Always check the withdrawal fees before making a deposit. 


Octa – Lowest Trading Fees

Broker Score
4.374.37 / 5
🏦  Min. DepositUSD 25
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

A CySEC-regulated ECN/DMA broker, Octa offers trading on multiple assets, including Forex, metals, energies, indices, cryptocurrencies, and shares. It offers two simple accounts on the MT4, MT5, and OctaTrader platforms, very low trading costs, no fees for deposits and withdrawals, and a great copy trading service.

All Octa accounts are market execution, and spreads are highly competitive, averaging at 0.6 pips (EUR/USD) with no commissions for Forex trading. The minimum deposit requirement across all accounts is only 100 USD, and it offers leverage of up to 500:1 on Forex pairs. Octa also offers a wide range of bonuses and promotions – a 50% deposit bonus for each deposit and demo contests with cash prizes are available.

Pros
  • Fast and free withdrawals
  • Low minimum deposit
  • Tight spreads
Cons
  • Limited range of assets
  • Poorly regulated
AlertAccepts Indian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Octa is regulated by CySEC and SVG FSA.

XM – Best Education and Low Costs

Broker Score
4.454.45 / 5
🏦  Min. DepositUSD 5
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage1000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

XM is a CySEC-regulated market maker broker with an excellent repository of educational and market analysis materials.  XM’s educational content focuses on instruction in video format, which is aimed at traders of all experience levels – beginner, intermediate, and advanced.  XM also provides daily interactive instruction via webinars that are available daily from 08.30 – 16.00 GMT, Monday to Friday. Topics range from the basics of Forex trading to learning how to use multiple time frame techniques with real-time simulated trading conditions.  Industry expert analysts host all webinars.

XM also offers competitive trading conditions and a low minimum deposit on all of their trading accounts.  Minimum deposits start at 5 USD on its entry-level account with a spread of 1.6 pips on the EUR/USD, which is wider than other market makers.  Trading costs improve on its Ultra Low, with spreads as tight as 0.6 pips and no commission.  All accounts offer a maximum leverage of up to 500:1. 

Pros
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
Cons
  • Limited platform choice
AlertAccepts Indian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the Belize FSC.

HFM (Formerly known as Hotforex) – Best Trading Analysis App

Broker Score
4.534.53 / 5
🏦  Min. DepositUSD 0
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

A CySEC-regulated ECN/STP broker, HFM offers trading on multiple assets, including Forex, metals, energies, indices, and shares.  HFM offers full support for the MT4 and MT5 platforms and numerous trading tools, including Autochartist, VPS services, Premium Trading Tools, and its proprietary HF App.  The HF App helps traders understand the markets with trading tools and the latest news, updates, and financial analysis. 

The HF App’s analysis tools include Daily Market Analysis, which allows traders to stay on top of market events; a Trading Positions feature, which allows you to track how other traders are reacting to currency and commodity movements; and a Traders’ Board with information on currency movers and live charts of major pairs.  The HF App also allows traders to deposit and withdraw funds, apply technical indicators, copy trade, and create watchlists. 

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Indian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

XTB – Best Proprietary Platform

Broker Score
4.394.39 / 5
🏦  Min. DepositUSD 0
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

XTB is a CySEC-regulated STP broker that offers trading on multiple trading instruments, including Forex, indices, commodities, stock CFDs, and cryptocurrencies.  Following a recent decision to move away from MT4, XTB only offers support for its proprietary award-winning proprietary platform, xStation 5.  It offers many of the trading features found in MetaTrader4, introducing sentiment data directly into the platform, powerful charting tools, one-click trading, and real-time performance statistics. 

XTB only offers trading on a single commission-free market execution account with no minimum deposit requirements, leverage of up to 500:1, and spreads that start at 0.80 pips on the EUR/USD which is tighter than other STP brokers. 

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
AlertAccepts Indian Clients. Average spread EUR/USD 0.70 pips on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC

IC Markets – Best Beginner-friendly Broker

Broker Score
4.564.56 / 5
🏦  Min. DepositUSD 200
🛡️  Regulated By
💵  Trading Cost 
USD 8
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

IC Markets is a CySEC-regulated beginner-friendly ECN broker offering trading on a wide range of assets, including Forex, commodities, stocks, indices, digital currencies, bonds, and futures.  It provides a welcoming environment for beginner traders with a well-structured and in-depth education section.  All material is developed by an in-house team of expert analysts and includes video tutorials, various articles, frequent webinars, and IC Markets’ WebTV.  IC Markets also provides excellent customer support, available 24/7 to help with platform setup and other technical questions. 

IC Markets offers trading on two live market execution accounts and a Standard Account on the MT4, Mt5, and cTrader platforms.  Spreads average at 0.1 pips (EUR/USD) on the Raw Spread account, which is one of the tightest spreads in the world, but traders are charged a commission of 7 USD (round turn) per lot on the MT4 platform, and 6 USD (round turn) per lot on the cTrader platform. 

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • High minimum deposit
  • Limited market analysis
AlertAccepts Indian Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC, ASIC, and the FSA.

Tickmill – ECN Broker with Lowest Commission

Broker Score
4.584.58 / 5
🏦  Min. DepositUSD 100
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Tickmill is an STP/ECN broker with regulation from numerous authorities, including CySEC.  It offers trading on multiple assets, including Forex, stock, oil, precious metals, and bonds.  Tickmill has won many awards for its excellent trading conditions, especially its low commissions.  

Tickmill offers three live accounts in addition to a demo account. Spreads start at 1.6 pips on its commission-free Classic Account, which is wider than other STP/ECN brokers, but tighten to 0.1 pips on its Pro Account in exchange for one of the lowest commissions in the world of 2 USD per side per lot.  Minimum deposits are reasonable, starting at 100 USD, and traders are offered leverage of up to 500:1.  Tickmill supports both the MT4 and MT5 platforms, both with lightning-fast execution and low latency trading. 

Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
Cons
  • Limited base currencies
AlertAccepts Indian Clients. Average spread EUR/USD 0.00 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 and MT5 platforms supported. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

FXPro – Best Trading Execution

Broker Score
4.394.39 / 5
🏦  Min. DepositUSD 100
🛡️  Regulated By
💵  Trading Cost 
USD 14
⚖️  Max. Leverage200:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

FxPro is a leading CySEC-regulated market maker broker with no dealing desk intervention.  With full support for the MT4, MT5, and cTrader platforms, FxPro provides low latency, fast execution on four account types.  Most trades are filled in under ten milliseconds, and trades are executed at one of FxPro’s Equinox Data Centres in either London or Amsterdam. 

At FxPro, each account type is associated with a different platform.  On the MT4 and MT5 accounts, spreads average at 1.84 pips and 1.65 pips on the EUR/USD, respectively which is higher than other similar brokers.  Spreads tighten significantly on the cTrader account, averaging at 0.31 pips on the EUR/USD in exchange for a commission of 9 USD round turn per lot traded.  FxPro also employs a dynamic leverage model which adapts according to the volume traded.   

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
AlertAccepts Indian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

FP Markets – Raw Spreads on MT4, MT5 and cTrader

Broker Score
4.404.40 / 5
🏦  Min. DepositAUD 100
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

FP Markets is a leading CySEC-regulated CFD broker offering trading on both the MT4, MT5, and newly added cTrader trading platforms.  In addition to providing super-fast execution speeds over a dedicated fibre-optic line, it offers versions of the platforms for alternate operating systems, including Mac OS and WebTrader.  Traders also have access to institutional-grade liquidity from multiple execution venues, with no price manipulation, no dealing desk intervention, and no requotes or rejections.

Trading conditions at FP Markets are generally excellent, with tighter than average spreads on two live accounts.  The commission-free Standard Account offers spreads starting at 1.0 pips on the EUR/USD and spreads as tight as 0 pips (EUR/USD) on its Raw Account in exchange for a commission of 6 USD (round turn) per lot. 

Pros
  • Trusted since 2005 with top-tier regulation
  • 100 USD minimum deposit amount
  • Supports MT4 MT5 cTrader and TradingView
  • Spreads start at 1.0 pip and narrow to 0 pips with higher trading volumes
  • Welcoming South African traders with specific regulatory compliance
Cons
  • Notably higher withdrawal fees than competitors
  • Stock CFDs are Limited on MT4/MT5 and primarily available through IRESS
  • High leverage up to 500:1
  • posing risks for inexperienced traders
AlertAccepts Indian Clients. Average spread EUR/USD 0.10 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.

Broker Regulation and Why it’s Important

Regulators are essential in all financial markets because they set the rules that guarantee a level playing field. They also enforce those rules by requiring members to submit regular reports and have independent audits, most good regulators will also have an investigations department and will conduct unannounced visits to regulated companies to ensure day-to-day operations are compliant. Regulators also have the power to impose penalties on members, including fines, sanctions and even revoking a company’s operating licence, thereby putting them out of business.

What is interesting about the Forex market is that there is no legal requirement for brokers to be regulated. CFD Forex trading is an Over the Counter (OTC) derivatives market – this means that there is no central exchange and no overall regulator with oversight for the market.

Having a wholly unregulated market is a bad idea and leads to massive consumer fraud, as happens on a smaller scale in regions with poorly regulated local Forex industries. Instead of having a single regulator, countries and regions regulate the brokers who reside in their territory. As each regulator has different abilities and priorities, Forex regulation is not uniform, and brokers must abide by different rules depending on which country/countries they are legally resident.

What is CySEC?

CySEC is the financial regulatory agency of Cyprus. It was founded in 2001 and when Cyprus joined the EU in 2004 CySEC became part of the pan-European MiFID (Markets in Financial Instruments Directive). MiFID is an EU law the harmonises regulation for financial services across the member states, allowing for financial firms registered in one state to essentially have a “passport” to operate in all the other EU states.

In terms of the Forex industry, this means that any Forex broker registered in Cyprus can market to, and accept business from, all EU citizens.

As the Cyprus financial regulator, CySEC has many crucial obligations in the financial sector – most of them outside the Forex industry – these are:

  • To review applications for and provide operating licenses to supervised financial companies – and revoke these if necessary.
  • To supervise and regulate the operation of and all transactions on the Cyprus Stock Exchange
  • To carry out all necessary investigations in view of the exercise of its duties under the law as well as on behalf of other foreign competent Authorities.
  • To impose administrative and disciplinary sanctions provided by the law.
  • To issue regulatory Directives and Decisions.
  • To cooperate and exchange data and information with foreign supervisory authorities.

How CySEC protects Forex traders

Most Forex brokers in Europe are based in Cyprus. They are subject to CySEC’s regulations, so it follows that many millions of Forex traders are directly impacted not only by CySEC’s rules but also by how well they enforce them. The most important regulatory benefits for customers of a CySEC-regulated broker are as follows:

  • Segregated Funds: All trader funds are kept in a segregated trust account, which the broker cannot access. This prevents the broker from using trader funds for operational purposes. It also ensures that in the case of broker bankruptcy, trader funds can be returned.
  • Capital Adequacy: CySEC requires all regulated brokers to hold enough capital to meet the capital adequacy ratio requirement. This decreases the likelihood of broker failure in the event of significant losses.
  • Reports and Auditing: Because brokers are required to submit regular financial compliance reports to CySEC, it is very difficult for brokers to hide any wrongdoing. Similarly, because these brokers are also subject to independent audits and visits from CySEC investigators, any malfeasance will be exposed.
  • Compensation Fund: All CySEC-regulated brokers are required to join the Investor Compensation Fund Scheme. Under this scheme, traders are liable for compensation of up to 20,000 EUR in the case of broker bankruptcy.
  • Insurance Coverage: CySEC demands that all licenced brokers maintain insurance coverage of at least 1.5 million EUR for losses resulting from negligence.
  • Transparency: CySEC expects to have a complete overview of all products that a broker is planning to offer, and that these products are the same as the products offered to clients.

These protections are enshrined in regulatory law, and brokers who are found to be in contravention are penalised and can even have their operating licence removed altogether.

A useful resource for traders, CySEC hosts an up-to-date list of brokers that are legally allowed to operate in their jurisdiction. If you are concerned that a broker may be operating illegally, check CySEC’s regulated entities list.

CySEC also publishes warnings on unregulated brokers operating illegally. Many illegal brokers will often disguise themselves as regulated brokers, so it is important to check here if you are concerned.

CySEC and ESMA: Restrictions on Trading Conditions

In March 2018, the European Securities Markets Authority (ESMA – an EU taskforce which examines EU-wide financial risk) announced new regulations on all CFD trading in the EU; these regulations were a directive at the supranational level – meaning that all EU members were required to abide by the regulations and enshrine them in domestic law.

Cyprus, as an EU member state, must also abide by this new set of regulations, and all CySEC-regulated brokers will have the following restrictions as a result:

  • Leverage Restriction: Maximum leverage of 30:1 on major currency pairs, 20:1 on all other pairs, 5:1 on equities, 2:1 on cryptocurrencies
  • Negative Balance Protection: All brokers must guarantee negative balance protection for all traders
  • No Bonus: All bonuses, promotions or any other type of trading incentive are banned
  • Margin Call: Brokers will be required to close a client’s open positions when the account equity reaches 50% of the required minimum margin by all open positions.
  • Risk Warning: All brokers will be required to display a standard risk warning showing what percentage of clients lose money with them.

While traders and brokers were unhappy with the restriction on leverage, industry experts agree that the new ESMA regulations protect traders from making huge losses without critically damaging broker profits.

CySEC vs FCA

The Financial Conduct Authority is the United Kingdom’s financial regulator and is generally upheld as the best and strictest national regulatory authority in the world. Most good brokers will be regulated either by CySEC, the FCA or sometimes both.

On paper, there is little difference between CySEC or FCA regulation – though the licencing fee for CySEC brokers is only 7,000 EUR, compared to 25,000 GBP for the FCA. Aside from that, both regulators require segregated accounts, membership of a compensation fund and high capital adequacy standards. All brokers regulated by both authorities will have the same leverage restrictions and other constraints required by the ESMA regulation – though whether this continues to remain the case once the United Kingdom leaves the EU remains to be seen.

The differences between the two regulators are mainly anecdotal. While the FCA is seen as unimpeachable when it comes to protecting consumers and being tough on brokers, many traders complain that CySEC is too broker-friendly and that it gives away operating licences too easily. CySEC also has a history of being easy on badly behaved brokers, with industry commentators noting that fines being levied by CySEC tended to be smaller than those handed out by other EU regulatory organizations.

But since 2016, CySEC has made sweeping changes to both the registration and regulation processes of all registered entities. Changes include more transparency regarding existing listed entities, tougher fines and regular unannounced onsite visits from CySEC investigators to check compliance. This has led to a surge in broker suspensions and license revoking, and CySEC is gradually losing its image as a light-touch regulator.

All CySEC Brokers

This is our list of all CySEC-regulated brokers we have reviewed. They are ordered by their overall rating, placing the best overall broker at the top of the list. 

Scroll for more detailsPreviousNext
Broker
Broker Score
CySEC Licence
Regulators
Beginner Friendly
Min. Deposit
Max. Leverage (Forex)
Cost of Trading
Fees
Total # CFDs
No. of FX Pairs
Crypto Pairs
Platforms
Compare
Markets.com
4.68 /5
Read Review
092/08FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services Commission80USD 10030:1USD 7Fees Included in Spread10095625MT4, MT5, markets.com
Forex.com
4.62 /5
Read Review
400/21FCA Regulated Forex BrokersASIC Regulated BrokersMonetary Authority of SingaporeCySEC Regulated BrokersCayman Islands Monetary Authority80USD 100200:1USD 7Fees Included in Spread5648918MT4, MT5, FOREX.com Web Trader, TradingView
Pepperstone
4.61 /5
Read Review
388/20FCA Regulated Forex BrokersASIC Regulated BrokersCySEC Regulated BrokersDFSA Regulated Forex BrokersBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets Authority60USD 030:1USD 10From 7 USD / lot - Razor Account127510019MT4, MT5, cTrader, TradingView
AvaTrade
4.59 /5
Read Review
ASIC Regulated BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services Authority60USD 100400:1USD 9Fees Included in Spread8725520MT4, MT5, Avatrade Social, AvaOptions
Tickmill
4.58 /5
Read Review
278/15CySEC Regulated BrokersFCA Regulated Forex BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityDFSA Regulated Forex Brokers80USD 10030:1USD 66 USD/lot209628MT4, MT5
IC Markets
4.56 /5
Read Review
362/18CySEC Regulated BrokersASIC Regulated BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the Bahamas60USD 20030:1USD 87 USD / lot - Raw Spread Account17446418MT4, MT5, cTrader, TradingView
Eightcap
4.53 /5
Read Review
246/14ASIC Regulated BrokersSecurities Commission of the BahamasFCA Regulated Forex BrokersCySEC Regulated Brokers80AUD 100500:1USD 107 USD / lot84655100MT4, MT5, TradingView
HotForex
4.53 /5
Read Review
183/12CySEC Regulated BrokersFCA Regulated Forex BrokersFinancial Services Conduct AuthorityDFSA Regulated Forex BrokersFinancial Services CommissionThe Seychelles Financial Services Authority80USD 0500:1USD 106 USD / lot - Zero Account12305340MT4, MT5, HFM Trading App
XM
4.45 /5
Read Review
120/10CySEC Regulated BrokersASIC Regulated BrokersDFSA Regulated Forex BrokersInternational Financial Services CommissionFinancial Services Conduct Authority80USD 51000:1USD 6Fees Included in Spread15545760MT4, MT5
Axitrader
4.44 /5
Read Review
433/23FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersFinancial Markets Authority of New ZealandDFSA Regulated Forex BrokersFinancial Services Authority – St. Vincent & the Grenadines60USD 0500:1USD 107 USD / lot - PRO account1887011MT4
ThinkMarkets
4.43 /5
Read Review
629628Financial Services Conduct AuthorityFCA Regulated Forex BrokersASIC Regulated BrokersThe Seychelles Financial Services AuthorityCySEC Regulated BrokersFinancial Services Agency80USD 0500:1USD 117 USD / lot - ThinkZero Account41504627MT4, MT5, ThinkTrader
FP Markets
4.40 /5
Read Review
371/18ASIC Regulated BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityCapital Markets AuthorityThe Seychelles Financial Services Authority80AUD 10030:1USD 76 USD / lot - RAW Accounts101627011MT4, MT5, cTrader, IRESS
XTB
4.39 /5
Read Review
169/12CySEC Regulated BrokersFCA Regulated Forex BrokersDFSA Regulated Forex BrokersInternational Financial Services CommissionKomisja Nadzoru Finansowego80USD 030:1USD 7Fees Included in Spread52115749xStation5
FxPro
4.39 /5
Read Review
078/07CySEC Regulated BrokersFinancial Services Conduct Authority80USD 100200:1USD 149 USD / lot22417030MT4, MT5, cTrader, FxProEdge
Octa
4.37 /5
Read Review
372/18CySEC Regulated BrokersFinancial Services Conduct AuthorityMwali International Services Authority80USD 25500:1USD 6Fees Included in Spread2495230MT4, MT5, OctaTrader
Skilling
4.37 /5
Read Review
357/18CySEC Regulated BrokersThe Seychelles Financial Services Authority80EUR 100500:1USD 76 USD round turn commission9057357MT4, cTrader, Skilling Trader
FBS
4.33 /5
Read Review
331/17CySEC Regulated BrokersASIC Regulated BrokersFinancial Services Conduct AuthorityInternational Financial Services Commission80USD 53000:1USD 76 USD / lot - ECN Account25437100MT4, MT5
Admiral Markets
4.28 /5
Read Review
201/13ASIC Regulated BrokersCySEC Regulated BrokersFCA Regulated Forex BrokersFinancial Services Conduct AuthorityJordan Securities Commission60USD 100500:1USD 81.8 - 3 USD per lot39968242MT4, MT5, MT Supreme
FXCM
4.28 /5
Read Review
392/20FCA Regulated Forex BrokersASIC Regulated BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersFinancial Services Authority – St. Vincent & the Grenadines40USD 50400:1USD 13None306457MT4, TradeStation
Fondex
4.24 /5
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138/11CySEC Regulated BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtThe Seychelles Financial Services Authority40USD 1500:1USD 7.80None10338011cTrader
FXPRIMUS
4.21 /5
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261/14CySEC Regulated BrokersVanuatu40USD 151000:1USD 158 - 10 USD / lot - PRO Account181434MT4, MT5, cTrader
HYCM
4.12 /5
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259/14CySEC Regulated BrokersFCA Regulated Forex BrokersDFSA Regulated Forex BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtCayman Islands Monetary Authority40USD 100500:1USD 128 USD / lot - Raw Account3107030MT4, MT5
easyMarkets
4.02 /5
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079/07CySEC Regulated BrokersASIC Regulated BrokersThe Seychelles Financial Services AuthorityBritish Virgin Islands Financial Services Commission40USD 25400:1USD 18Fees Included in Spread1936320MT4, MT5
LiteForex
3.97 /5
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093/08CySEC Regulated BrokersFinancial Services Authority – St. Vincent & the Grenadines60USD 50500:1USD 1910 USD / lot - ECN Account2625666MT4, MT5
FXCC
3.88 /5
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121/10CySEC Regulated Brokers40USD 0500:1USD 6None1047114MT4
Errante
3.87 /5
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383/20CySEC Regulated BrokersThe Seychelles Financial Services Authority40USD 50500:1USD 15Fees Included in Spread1515014MT4, MT5
Trade360
3.80 /5
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202/13CySEC Regulated BrokersASIC Regulated BrokersFinansinspektionenBundesanstalt für Finanzdienstleistungsaufsicht40USD 250400:1USD 40Fees Included in Spread602480MT5, Sirix
UFX
3.70 /5
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127/10CySEC Regulated Brokers40USD 10030:1USD 2050500MT5
NAGA
3.68 /5
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204/13CySEC Regulated BrokersBundesanstalt für Finanzdienstleistungsaufsicht40USD 2501000:1USD 17Fees Included in Spread5394730MT4, MT5, NAGA Web App
IronFX
3.64 /5
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25/10CySEC Regulated BrokersFCA Regulated Forex BrokersASIC Regulated BrokersFinancial Services Conduct Authority40USD 501000:1USD 22On select STP/ECN Accounts285830MT4
NordFX
3.63 /5
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209/13CySEC Regulated BrokersVanuatu40USD 101000:1USD 200,007% / Trade - Zero Account793315MT4
IFC Markets
3.60 /5
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CySEC Regulated BrokersBritish Virgin Islands Financial Services CommissionLabuan Financial Services Authority40USD 5400:1USD 5None5144915MT4, MT5
Fibo Group
3.60 /5
Read Review
118/10CySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinansinspektionenBritish Virgin Islands Financial Services CommissionFinancial Services Commission40USD 01000:1USD 66 USD / lot8071439MT4, MT5, cTrader
LegacyFX
3.53 /5
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344/17CySEC Regulated BrokersVanuatu40USD 500200:1USD 16Fees Included in Spread1024910MT5
Darwinex
3.52 /5
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FCA Regulated Forex BrokersCySEC Regulated Brokers40USD 50030:1USD 75 USD / lot311425MT4, MT5
Trade.com
3.52 /5
Read Review
227/14CySEC Regulated BrokersFCA Regulated Forex BrokersFinancial Services Conduct Authority40USD 10030:1USD 19Fees Included in Spread22155512MT4, MT5, Sirix

Conclusion

As the regulator with the most EU-registered brokers, CySEC has a critical role in the Forex industry, and millions of traders rely on their ability to ensure a fair trading environment.

While in the past, this ability has been questioned, currently, CySEC is seen as a leader in the Forex regulatory world, and brokers with CySEC regulation should be considered safe and secure places for trading.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. Forex and CFD transactions involve high risk due to the following factors: Leverage, market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection. Traders should not deposit any money that is not considered disposable income. Regardless of how much research you have done or how confident you are in your trade, there is always a substantial risk of loss. (Learn more about these risks from the UK’s regulator, the FCA, or the Australian regulator, ASIC).

Our Rating & Review Methodology

Our overall Forex Rankings report and Directory of CFD Brokers to Avoid are the result of extensive research on over 180 Forex brokers. These resources help traders find the best Forex brokers – and steer them away from the worst ones. These resources have been compiled using over 200 data points on each broker and over 3000 hours of research. Our team conducts all research independently: Testing brokers, gathering information from broker representatives and sifting through legal documents. Learn more about how we rank brokers

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.

 

Vanessa Marcos
Financial Writer

Vanessa joined the team in 2023. Born and raised in southern Portugal, she has a BA in Journalism and a Master’s in Literary Theory, both from Lisbon University. Since 2011, she has worked in social media, copywriting, content management, ghost-writing, and SEO. Vanessa loves to write, and although she is a generalist in digital marketing, she always draws on her creativity in her work. She is constantly researching new subjects and finds the analytical depth of Forex trading fascinating.

 

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