Best CySEC Regulated Forex Brokers 2021

logomark Filippo Ucchino calendar Last Updated: November 2021 timer 15 min read
Top Rated:
Connect with us

At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

When considering which broker to choose, security is always a factor you should have at the front of your mind. CySEC is one of the leading names and top-regulators in the world when it comes to providing you with this safe trading experience. Through this listing, not only will you find brokers who have been tested and come out with some of the very best online forex trading platform review scores, but also some of the safest and more secure that the industry has to offer.

We will also take an in-depth look at exactly what CySEC is and what they can offer you as a trader, along with some of the very best CySEC regulated brokers that you can choose from.

Table of contents

What is the CySEC?

CySEC stands for Cyprus Securities and Exchange Commission. As the name suggests, they are based in, and the regulatory body for Cyprus. Their reputation though is one of providing the most trusted regulation in the industry for traders all over Europe and the world. For that reason, they are one of the most common, respected, and sought after regulatory bodies you will find attached to many of the best forex brokers.

It is important to note that a broker which is CySEC regulated, is also ESMA compliant. ESMA is the head of the national regulatory bodies and every body must respect the ESMA MiFiD II guidelines. All CySEC regulated brokers then, because they are ESMA compliant, can offer services within the entire EEA (European Economic Area).

Top 10 best CySEC Regulated Forex Brokers

With some knowledge on CySEC and how important it is acquired, let’s take a closer look at some of the top 10 best CySEC regulated brokers around.

Visit Broker
68% of retail investor accounts lose money

1. eToro

First on our list of top CySEC brokers is eToro. They are extremely well recognized around the world as one of the top social trading brokers in the industry, and a household name for providing great service. They are CySEC regulated under the number 109/10.

At eToro you will find an accessible minimum deposit starting at $200 and an unlimited demo account to get to know the broker. This combined with their very user-friendly and proprietary trading platform make them the perfect choice for many new traders. At eToro, only USD is supported as a base currency though, so some conversion fee may apply if you are depositing in Euro. To help mitigate this though, and reduce other trading costs too, you can join the eToro Club program. Another great highlight at the broker is your ability to trade in many markets, including real cryptos from $25, and real stocks from $50.

78
Rated: Excellent
Security 94
Cost 71
Trading 69
Education 63

Platforms: Proprietary Web Platform Regulations: FCA, CFTC, MIFID-ESMA, ASIC, CYSEC Minimum Deposit: 200
Visit Broker
75.54% of retail investor accounts lose money

2. FxPro

FxPro are another well-respected forex broker who make the list of our best CySEC brokers. They have been around the industry for a long time and have managed to grow a very strong reputation. This London based broker now operates around the world. They are also a very well-decorated broker having won more than 60 awards in total.

With FxPro you will find a minimum deposit that starts from $100, and excellent trading costs that are kept as low as possible. You can trade here with spreads as low as 0 pips. Fixed spread trading is also available here on some markets if you are trading through MT4. This provides an excellent level of flexibility to traders.

80
Rated: Excellent
Security 95
Cost 58
Trading 76
Education 83

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, FSCA, CYSEC, Offshore Minimum Deposit: 100
Visit Broker
73.57% of retail investor accounts lose money

3. XM

The next award-winning broker to make it to our list of the top CySEC brokers, is XM. They are currently one of the biggest brokers in the world, offering service to traders in most countries. They are regulated by CySEC under the number 120/110 and are a common top broker choice for beginners.

They offer a huge degree of choice starting out. This is evident from the range of account type options and they even make a micro account available with a minimum deposit of just $5 making it easy to engage in low-risk trading. This is the perfect place to learn, and they also offer great trading conditions to more experienced traders along with the chance to learn from a great education section that includes webinars, video tutorials, and much more.

77
Rated: Excellent
Security 94
Cost 74
Trading 65
Education 68

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, ASIC, CYSEC Minimum Deposit: 5
Visit Broker
74-89% of retail CFD accounts lose money

4. IC Markets

IC Markets are one of the best-known Australian brokers, but they also make the list as one of the best to be CySEC regulated, which they are under the number 362/18. Through this broker you will find they are extremely accessible with no minimum deposit requirement in place at all. They also offer a wide range of account type choices.

At IC Markets you can choose from trading on the raw spread account, or the standard account types. In any case, there is something to offer everyone with a great low spread that starts from 0 pips and extremely fast order execution. This makes it the perfect broker for scalping, with the use of EAs also allowed. When trading with IC Markets you will also have the choice of all the top trading platforms including MT4, MT4, and cTrader.

92
Rated: Excellent
Security 93
Cost 91
Trading 100
Education 66

Platforms: cTrader desktop, cTrader web, Mirror Trader, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: ASIC, CYSEC, Offshore Minimum Deposit: 0
Visit Broker
71.64% of retail investor accounts lose money

5. HotForex

HotForex are next on the list of the best CySEC regulated brokers to choose from. They have been around for more than a decade since being founded in 2010 and have quickly grown to become a top international broker. They are CySEC regulated under number 183/12 and again offer a wide range of great value account type choices that start from just a $5 minimum deposit, though this may rise to $50 depending on your area.

The broker also offers a great environment for copy trading with their proprietary HF Copy platform available. Here you can start with a minimum deposit of $300 for copying others, or $1,000 if you wish to be copied. The educational content is also strong with a range of great video tutorials and free webinars available to help you continue learning.

81
Rated: Excellent
Security 94
Cost 86
Trading 69
Education 70

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: MIFID-ESMA, CYSEC, Offshore, FSC (Mauritius) Minimum Deposit: 5
Visit Broker
74-89% of retail CFD accounts lose money

6. FP Markets

Another top Australian broker to also make our list as one of the top CySEC regulated brokers, is FP Markets. They are regulated by CySEC under number 378/18 and have also been around in the industry offering a trusted trading experience since 2005.

Here you will find extremely low spreads and a low-cost overall trading environment that can provide excellent value to you as a trader. Combine the spreads which start from 0 pips with the very fast execution speed and you can easily see why FP Markets is a popular choice. You will also be able to choose from a range of trading platforms that include both MT4, MT5, and the IRESS platform with a minimum deposit starting from $100 keeping this broker accessible to all traders.

85
Rated: Excellent
Security 93
Cost 64
Trading 100
Education 47

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, MAC Platforms Regulations: ASIC Minimum Deposit: 100
Visit Broker
76% of retail investor accounts lose money

7. Admiral Markets

Admiral Markets are next to be featured as one of our top CySEC regulated brokers. They are regulated under the number 210/13 and this market maker broker has been providing top quality service to traders around the world for many years.

One of the big plus points about this broker is the fact they have a huge range of assets available to trade in, more than 4,000 in total. These include bonds, ETFs, and crypto alongside all of the forex and other markets you would expect. This amazing rage of choice can be accessed with a minimum deposit starting from just $100 and with a trading cost that starts from an excellent 0 pips. The broker also offers an excellent and well-resourced education section with posts, videos, and even real-life examples to help you through different trading techniques like scalping and hedging.

80
Rated: Excellent
Security 94
Cost 71
Trading 73
Education 78

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, CYSEC Minimum Deposit: 100
Visit Broker
74-89% of retail CFD accounts lose money

8. FBS

Another of the best-known brokers in the industry for providing an excellent overall trading experience to all is FBS. They are also a top rated CySEC regulated broker under the number 331/17. The low minimum deposit you will find here which starts from only $10 greatly helps in attracting a wide variety of traders and is great for new traders.

You can also avail of a 30-day demo trading account to get to know the broker, which can be further extended. A standard FBS account can be opened with as little as $100, though the cent account provides great alternatives for low-risk trading too. At FBS you will find a spread that starts from 1 pip and several great, and easy to use trading platforms available. These include MT4, MT5, and the FBS proprietary trading platform.

80
Rated: Excellent
Security 93
Cost 86
Trading 68
Education 60

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, ASIC, FSCA, CYSEC, Offshore Minimum Deposit: 1
Visit Broker
72% of retail investor accounts lose money

9. Plus500

Plus500 is another top CySEC regulated broker with the regulation number 250/14. They are well known as one of the top CFD providers in the industry and are a popular choice among many traders for this.

Here you will be able to trade in a wide variety of markets including a selection of more than 70 forex CFD pairs. There are also in excess of 1800 CFDs including indices, shares, commodities, cryptos, ETFs, and blends. There really is something for everyone here at Plus500. Added to this you can take advantage of great spreads starting from 0.6 pips with no added commission, and one of the most user-friendly proprietary trading platforms in the sector. These are just some of the points which have made Plus500 a very favorable choice by traders.

74
Rated: Excellent
Security 96
Cost 70
Trading 66
Education 37

Platforms: Proprietary Web Platform Regulations: MAS, FCA, MIFID-ESMA, ASIC, FMA, CYSEC, ISA, Offshore Minimum Deposit: 100
Visit Broker
73% of retail investor accounts lose money

10. XTB

Last but not least on our listing of the top CySEC regulated broker, is XTB. They are regulated under number 169/12 and offer an excellent all-round service to traders. Here you will be glad to find that there is no minimum deposit requirement. This makes it a perfect broker choice for new traders. They are also extremely trusted, having been around as an international broker more than 14 years.

A great range of asset choices also await, with a total of more than 5200 available to choose from. Within this, 48 are forex pairs where the spread starts from a great value 0.1 pips. Along with the other great range of markets, you will also have the choice of 25 crypto assets with all traded through the broker’s own intuitive and popular proprietary platform.

82
Rated: Excellent
Security 95
Cost 76
Trading 75
Education 72

Platforms: Mirror Trader, Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: FCA, MIFID-ESMA, FSCA, CYSEC, Offshore Minimum Deposit: 0

How the CySEC works

Now that you have seen some of the top CySEC regulated brokers to choose from, here is more information on the exact role CySEC plays. The primary roles for the broker are ones of oversight in terms of the finances, ensuring these are secure at the broker, and providing trader protection which they do through a number of measures put in place. They also maintain communication with ESMA and all other national regulatory bodies providing feedback and reporting on the activities of brokers in the sector.

Ultimately, CySEC ensures that the brokers under its regulation respect ESMA and MiFiD II regulations and provide the most secure trading environment possible for you as a trader. These guidelines are set by ESMA as the head of European regulatory bodies, and effectively implemented by CySEC and other national regulatory bodies with the end result being that broker compliance is well maintained.

Characteristics and benefits of CySEC

When it comes to the benefits of being CySEC regulated, these are really all in favor of protecting you as a trader. They have set out a great deal of measures to ensure this protection.

Under ESMA regulations, which all CySEC brokers follow, leverage for retail traders is set at a maximum of 30:1 on major forex pairs. This means you will not be trading vastly beyond your position. The exception here is if you qualify as a professional trader. In this case you would be able to unlock leverage of up to 400:1.

Under CySEC, the trading of both CFDs and some other derivative products is legal, as is the trading of cryptocurrency. Negative balance protection which stops you from losing more than the balance in your account though is mandatory, as is the use of segregated bank accounts by the broker. Furthermore, with CySEC, you will be covered under the ICF (Investor Compensation Fund) for losses of up to €20.000 in case of insolvency or bankruptcy from the broker.

Prohibitions with CySEC

There are a few things that you cannot do under a CySEC regulated broker. These include spread betting which was made illegal under the MiFiD II rules that CySEC follows. Bonuses are also not permitted but this only applies to attracting new customers through welcome bonuses and encouraging more deposits through deposit bonuses, active trader programs that reward traders for reaching certain trading goals, are permitted.

Differences between CySEC Regulated and CySEC Licensed Brokers

As with many other regulatory bodies, you may find brokers who are CySEC regulated, and CySEC licensed. The difference is that to become regulated, a broker must pass through the entire registration process for that body in order to offer services in that country. A licensed broker may be able to avoid some of these steps and still offer services within that area respecting local laws.

In illustration of this point, then a forex broker who registers under any EU regulator, will also be allowed to offer services in the EEA, and Cyprus whether or not that regulator is CySEC, though this is not overly common since CySEC is by far the most recognized in the region.

How to check if a broker is CySEC regulated

You can easily and quickly check the brokers ESMA compliance by visiting the ESMA official website if you want to give a general look at this. On the other hand, if you would like to check the CySEC regulation, you can also do this. You simply need to go to the CySEC official website and type the name of the broker into the search bar where you will find all of the information you need.

How CySEC intervene in case of financial abuse?

If a broker is reported to CySEC, then they have the power to ban that broker from the country. They can also follow up and report the issue to ESMA or other national brokers to take further action if needed.

How CySEC can help you

If you think a broker is not acting in a legal way,  if you feel you were not treated in a fair way, or if you realize that broker is false-advertising or engaging in any practice that you think violates regulation, then you can contact CySEC by going on their CySEC Official Website and following the process which is laid out there.


About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

Leave a Reply

Your email address will not be published. Required fields are marked *

Keeping you better informed

Find and compare the best
Online brokers for you

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
ADVERTISER DISCLOSURE: InvestinGoal is completely free to use for all. Though we may receive a commission from brokers we feature, this does not impact the results of our reviews or rankings which are conducted with complete independence and objectivity, following our own impartial methodology. Help us continue to provide the best free broker reviews by opening your account with our links. Please read our Advertiser Disclosure to learn more.
Copyright © 2021 InvestinGoal.com – All rights reserved. / Privacy and Cookie Policy / Basic Terms of Use / Sitemap