The best Cysec regulated Forex brokers, according to our research, are:
- eToro
- XM
- FP Markets
- IC Markets
- FxPro
- HF Markets
- Admirals
- FBS
- Forex.com
- XTB
In order to rank the best CySEC brokers we have taken into consideration a multitude of factors:
- An active CySEC license;
- The commissions charged on forex;
- The general quality of the broker;
- The deposit/withdrawal currencies accepted.
What are the best CySEC forex brokers?
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Below is our curated list and review of the best forex brokers regulated by the CySEC, with details and information about the regulation, the features, and the characteristics.
eToro
best for social trading
eToro is regulated by CySEC since 2010 and offers traders negative balance protection, a maximum leverage of 30:1 for retail, and USD as the base currency. It does not provide cross-border services in Croatia.
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About eToro
eToro is a global multi-asset investment platform founded in 2007, offering trading on stocks, ETFs, Crypto CFDs, commodities, and forex. eToro provides a proprietary web and mobile platform with social trading features. eToro is regulated by multiple authorities including FCA, ASIC, and CySEC. eToro is known for its user-friendly interface, copy trading functionality, and commission-free stock trading. eToro serves over 30 million users worldwide. The eToro CEO and co-founder is Yoni Assia.
eToro Features
The features of eToro are listed below.
- eToro is regulated by CySEC with number 109/10 since 14/10/2010. They are registered as eToro (Europe) Ltd with registration number 200585 and own an office in Limassol (Cyprus).
- eToro under CySEC cannot provide cross-border services in Croatia.
- Under CySEC, eToro traders can benefit from mandatory negative balance protection and a maximum leverage of 30:1 for retail clients and up to 400:1 for Professional clients according to ESMA rules.
- eToro under CySEC offers only USD as base currency. You can use other currencies including EUR, though keep in mind that a conversion fee may be applied.
- Clients under eToro CySEC will find a minimum deposit of $50 (depending on the region) and spreads from 1 pips on forex.
- eToro’s other entities are: ASIC, FCA and in the USA they are registered with FinCEN.
eToro Pros and Cons
Advantages of eToro
The advantages of eToro are listed below.
- Great copy trading and social trading features
- Wide range of asset classes
- It allows to buy fractional stocks from $10
Disadvantages of eToro
The disadvantages of eToro are listed below.
- The eToro spreads can be high
- Offers only USD accounts
- Transferring cryptocurrencies to other platforms can be hard
XM
best for beginners
XM is CySEC regulated since 2010, providing mandatory negative balance protection and a leverage limit of 30:1 for retail clients. Base currencies include USD, EUR, and GBP with a low minimum deposit requirement.
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About XM
XM is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. XM provides MetaTrader 4, MetaTrader 5, and proprietary platforms. XM is regulated by multiple authorities including CySEC, ASIC, and IFSC. XM is known for competitive spreads, extensive educational resources, and multilingual customer support. XM serves over 5 million clients from 196 countries. XM offers various account types and a no-requote policy.
XM Features
The features of XM are listed below.
- XM is CySEC regulated with number 120/10 obtained on 05/08/2010. They are registered as Trading Point Of Financial Instruments Ltd with registration number 251334 and an office in Limassol (Cyprus).
- XM clients trading under the CySEC entity can benefit from mandatory negative balance protection and a maximum leverage of 30:1 for retail clients.
- Base currencies available for CySEC traders are the USD, EUR and GBP.
- Under XM CySEC, you will find a minimum deposit of $5 and spreads as low as 0 pips.
- XM’s other entities are regulated under DFSA, FSC, and ASIC.
XM Pros and Cons
Advantages of XM
The advantages of XM are listed below.
- There’s a wide range of account types
- The demo account at XM is unlimited
- Wide range of educational resources
Disadvantages of XM
The disadvantages of XM are listed below.
- No social trading features available
- The account availability changes depending on the location of the trader
- High minimum deposit to invest in securities ($10000 for the XM Shares account)
FP Markets
best for fast execution
FP Markets, regulated by CySEC since 2018, offers leverage of 30:1 for retail traders and 500:1 for professionals, with negative balance protection. It restricts cross-border services in France and Belgium.
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About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- FP Markets is regulated by CySEC with number 371/18 obtained on 19/11/2018. They are registered as First Prudential Markets Ltd with registration number 372179 and an office in Limassol (Cyprus).
- FP under CySEC cannot provide cross-border service in France and Belgium.
- FP Markets trading under the CySEC entity will find maximum leverage of 30:1 (retail) and 500:1 (professional), as well as mandatory negative balance protection.
- FP Markets CySEC clients can choose between EUR, USD, and GBP as their base currencies.
- CySEC traders will find a minimum deposit of $100 and spreads from 0 pips.
- FP Markets’ other entities are ASIC, Saint Vincent and the Grenadines.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
IC Markets
best for algo-trading
IC Markets is under CySEC regulation since 2018, ensuring negative balance protection and a leverage limit of 30:1 for retail clients while providing EUR, USD, and GBP as base currencies.
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About IC Markets
IC Markets is a global forex and CFD broker founded in 2007 and based in Sydney, Australia. IC Markets offers trading on over 2,250 instruments including currencies, commodities, indices, stocks, and cryptocurrencies. IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader platforms. IC Markets is regulated by multiple authorities including ASIC and CySEC. IC Markets is known for its ECN execution model and low spreads. The IC Markets CEO is Andrew Budzinski.
IC Markets Features
The features of IC Markets are listed below.
- IC Markets is regulated by CySEC with number 362/18 obtained on 25/06/2018, under the IC Markets (EU) Ltd with registration number 356877 and an office in Limassol (Cyprus).
- CySEC traders with IC Markets will find mandatory negative balance protection and a maximum leverage of 30:1 for retail clients in line with ESMA guidelines. IC Markets European Professional traders will find a leverage up to 500:1 instead.
- Base currencies for IC Markets CySEC traders: EUR, USD, GBP.
- CySEC traders will find no minimum deposit required, though $200 is what IC Markets recommends, and spreads from 0 pips.
- IC Markets’ other entities are ASIC, FSA, and SCB.
IC Markets Pros and Cons
Advantages of IC Markets
The advantages of IC Markets are listed below.
- Low-latency trading environment
- Institutional level liquidity
- MT4, MT5, cTrader platforms are all available
Disadvantages of IC Markets
The disadvantages of IC Markets are listed below.
- Small amount of educational tools for new traders
- Small range of tradable assets compared to other CFD/Forex brokers
FxPro
best for fixed spreads
FxPro has CySEC regulation since 2007, offering 30:1 leverage for retail and up to 500:1 for professionals, alongside negative balance protection and multiple currency options for account base currencies.
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About FxPro
FxPro is a global online broker founded in 2006, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. FxPro provides multiple trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and its proprietary FxPro Platform. FxPro is regulated by multiple authorities including FCA, CySEC, SCB, FSC and KNN. FxPro serves clients in over 170 countries and has won numerous industry awards. The FxPro CEO is Charalambos Psimolophitis.
FxPro Features
The features of FxPro are listed below.
- FxPro is CySEC regulated with number 078/07 since 05/03/2007 under the name FXPRO Financial Services Ltd with registration number 181344 and an office in Ypsonas (Cyprus).
- CySEC FxPro traders have access to the mandatory negative balance protection feature and a maximum leverage of 30:1 for retail clients in line with ESMA rules. Professional clients have access to a 500:1 maximum leverage.
- Base currencies for CySEC traders are EUR, USD, GBP, CHF, PLN, AUD, JPY, ZAR
- Under FxPro CySEC, you will find a minimum deposit of $100 with both floating spreads from 0.1 pips and fixed spreads from 1.6 pips.
- FxPro’s other entities are regulated by the FCA, FSCA, and SCB.
FxPro Pros and Cons
Advantages of FxPro
The advantages of FxPro are listed below.
- Regulated and Trusted Forex broker
- Diverse Trading Platforms
- Wide Range of Instruments
Disadvantages of FxPro
The disadvantages of FxPro are listed below.
- Inactivity Fee
- Limited Educational Resources
- No Guaranteed Stop-Loss Orders
HF Markets
best for account types choice
HF Markets is regulated by CySEC since 2012. It ensures negative balance protection and provides leverage up to 30:1 for retail and 400:1 for professionals, with base currencies including USD and EUR.
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About HF Markets
HF Markets, formerly known as HotForex, is a global multi-asset broker founded in 2010. HF Markets offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader platforms. HF Markets is regulated by multiple authorities including CySEC, FCA, DFSA, and FSCA. HF Markets serves clients worldwide and is known for competitive trading conditions and extensive educational resources. HF Markets recently rebranded to emphasize its expanded product range. The HF Markets Group CEO is George Koumantaris.
HF Markets Features
The features of HF Markets are listed below.
- HF Markets is regulated by CySEC with number 183/12 obtained on 20/11/2012. They are registered as HF Markets (Europe) Ltd with registration number 277582 and own an office in Larnaca (Cyprus).
- HF Markets clients under CySEC will get access to: mandatory negative balance protection; a maximum leverage of 30:1 for retail clients; a maximum leverage of 400:1 for professional clients; a fewer range of account types to choose from.
- HF Markets’ base currencies for CySEC traders: USD and EUR.
- HF Markets CySEC traders will find a minimum deposit of $0 and spreads from 0.1 pips.
- HF Markets’ other entities are FCA, DFSA, FSCA, and FSA.
HF Markets Pros and Cons
Advantages of HF Markets
The advantages of HF Markets are listed below.
- High Leverage Options
- Low Minimum Deposit
- Wide Range of Trading Instruments
Disadvantages of HF Markets
The disadvantages of HF Markets are listed below.
- Higher Trading Costs
- Limited Educational Resources
Admirals
best for number of assets
Admirals works under CySEC regulation since 2013, provides negative balance protection and leverage limits of 30:1 for retail and 500:1 for professionals, supporting multiple base currencies.
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About Admirals
Admirals, formerly Admiral Markets, is a global forex and CFD broker founded in 2001. Admirals offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader platforms. Admirals is regulated by multiple authorities including CySEC and FCA. Admirals is known for competitive spreads and extensive educational resources. Admirals recently halted onboarding of new EU clients to comply with regulatory standards. The co-founder of Admirals and CEO of Admirals Group is Alexander Tsikhilov.
Admirals Features
The features of Admirals are listed below.
- Admirals have CySEC regulation with number 201/13 since 14/06/2013, under the name Admiral Markets Cyprus Ltd with registration number 310328 and an office in Nicosia (Cyprus).
- Admirals clients under CySEC have access to maximum leverage of 30:1 (retail) and 500:1 (professional); mandatory negative balance protection is also in place because of the ESMA guidelines.
- Admirals CySEC traders can choose among EUR, GBP, USD, CHF, BGN, CZK, HRK, HUF, PLN, and RON as base currencies.
- Admirals traders under CySEC will find a minimum deposit of 100$ and spreads from 0 pips.
- Admirals’ other entities are FCA, ASIC, and JSC.
Admirals Pros and Cons
Advantages of Admirals
The advantages of Admirals are listed below.
- Extensive Forex Options
- Strong Regulatory Framework
- Advanced Educational Resources
Disadvantages of Admirals
The disadvantages of Admirals are listed below.
- Charges Inactivity Fee
- Mobile App Limitations
- Higher Average Spreads for Some Assets
FBS
best for Cent accounts
FBS is regulated by CySEC since 2017, offers negative balance protection and a leverage limit of 30:1 for retail and 500:1 for professionals. Base currencies include EUR and USD.
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About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- FBS is regulated by CySEC with number 331/17 since 07/08/2017. They are registered as Tradestone Ltd with registration number 353534 and own an office in Limassol (Cyprus).
- FBS CySEC traders can benefit from the negative balance protection and maximum leverage of 30:1 (retail) and 500:1 (professional).
- Moreover, note that CySEC clients have access to a limited range of accounts compared to the International offer.
- CySEC clients under FBS can use EUR and USD as their account base currencies.
- FBS CySEC traders will find a minimum deposit of $1 and spreads from 0 pips.
- FBS’ other entities are FSCA, and ASIC.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
Forex.com
best for CFD trading
Forex.com operates under CySEC, provides access to a wide range of CFDs, offers negative balance protection, and ensures a maximum leverage of 1:30 for retail clients with EUR as a base currency.
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About Forex.com
FOREX.com is a global forex and CFD broker founded in 2001, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FOREX.com provides proprietary platforms alongside MetaTrader 4 and 5. FOREX.com is regulated by multiple top-tier authorities including FCA, ASIC, and CFTC. FOREX.com is known for competitive spreads, fast execution, and extensive educational resources. FOREX.com serves over 450,000 clients worldwide. The FOREX.com’s parent company “StoneX Group Inc.” CEO is Sean O’Connor.
Forex.com Features
The features of Forex.com are listed below.
- Forex.com in the EU operates under the supervision of CySEC (400/21)
- Through the CySEC branch of Forex.com, traders access to a wide range of nearly 3,000 CFD assets, including more than 80 forex pairs
- Spreads at Forex.com start from 0.8 pips on EUR/USD.
- Under CySEC Forex.com offers a maximum leverage of 1:30 for retail traders.
- The minimum deposit at Forex.com is $100.
- Forex.com offers EUR as account base currency, which means european traders will be able to withdraw and deposit funds from their trading account without currency conversion fees.
Forex.com Pros and Cons
Advantages of Forex.com
The advantages of Forex.com are listed below.
- Regulatory Assurance
- Low Forex Fees
- Comprehensive Educational Resources
Disadvantages of Forex.com
The disadvantages of Forex.com are listed below.
- Limited Product Portfolio
- Higher Spreads on Standard Accounts
- No Guaranteed Stop-Loss Orders for U.S. Clients
XTB
best for educational resources
XTB is regulated under CySEC since 2012, provides negative balance protection and a leverage limit of 30:1 for retail, adopting base currencies such as EUR, USD, CHF, and GBP, though restricted from services in Belgium.
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About XTB
XTB is a global forex and CFD broker founded in 2002 and headquartered in Poland. XTB offers trading on over 2,000 instruments including currencies, stocks, indices, commodities, and cryptocurrencies. XTB provides the proprietary xStation platform and is regulated by multiple authorities including FCA, CySEC, and KNF. XTB is listed on the Warsaw Stock Exchange and serves over 897,500 clients worldwide. The XTB CEO is Omar Arnaout since March 2017.
XTB Features
The features of XTB are listed below.
- XTB has a CySEC regulation with number 169/12 from 18/04//2012, under the name XTB Ltd with registration number 296794 and owns an office in Limassol (Cyprus).
- XTB under CySEC cannot provide cross-border services in Belgium.
- XTB clients under CySEC have access to the negative balance protection no matter what. Moreover, the maximum leverage available is up to 30:1 for retail clients and up to 200:1 for professional clients.
- XTB CySEC can use EUR, USD, CHF, and GBP as base currencies.
- CySEC traders under CySEC will find a no minimum deposit requirement and spreads from 0.3 pips.
- XTB’s other entities are DFSA, FSCA, IFSC, and FCA.
XTB Pros and Cons
Advantages of XTB
The advantages of XTB are listed below.
- No minimum deposit
- Wide selection of assets
- Competitive trading costs
Disadvantages of XTB
The disadvantages of XTB are listed below.
- Small withdrawal fee
- No social or copy trading
- XTB demo account is limited to 30 days
How does the CySEC work?
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.
What are the 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.
What are the 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 does 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.