For a forex broker to qualify to operate in certain regions, they must obtain licenses from government bodies regulating the industry in which they operate. For traders in Cyprus and the Mediterranean region, Cyprus Security and Exchange Commission is the body responsible for regulating forex trading activities. Brokers with their licenses are classified as CySEC regulated forex brokers.
Beyond obtaining access to the industry, having a brokerage license also serves as a reputation booster since traders will feel more comfortable trading with the broker. In this article, we review some of the best CySEC regulated brokers online.
In This Guide
ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA
up to 40% bonus
$10 000 demo
FCA, ASIC, CIMA, SIBL
up to 50% bonus
VFSC, FSC, IBFC
FCA, IIROC, JFSA, NFA, CIMA, FSA, ASIC, CFTC
up to $5000 bonus
BDSwiss is a brokerage that was established in 2012. This broker offers traders multiple trading accounts for them to trade forex online. Currently, this broker is regulated by CySEC and the Mauritius Financial Services Commission.
Traders on BDSwiss can trade more than +250 CFD instruments, some of which include Indices, Cryptocurrencies, Forex, and lots more. BDSWiss offers three types of accounts, namely VIP, Classic, and Raw, on platforms like MT4 and MT5. This broker also has independent platforms like BDSwiss Mobile App and BDSwiss Web Trader.
You also have access to educational materials like webinars, seminars, and advanced trading courses.
IC Markets was founded in 2007 in Sydney, Australia. This broker is a CySEC regulated broker and is also regulated by ASIC, FSA, and many other regulatory bodies. April 2019 was one of the biggest for IC because, in that month alone, roughly about $646 billion worth of assets were traded on the platform.
IC Markets offers brokerage services and accounts designed for traders at different expert levels. They have accounts for beginners and expert traders. This broker promotes itself as the first choice for those who like to trade in high volumes. With more than 500,000 traders executed per day on the platform, IC Markets remains one of the best CySEC regulated brokers online.
FP Markets was established in 2005 and is one of the most regulated brokerages in the world. This broker is regulated by CySEC and ASIC of Australia. They offer segregated client funds with top-tier liquidity. Being a part of First Prudential Markets Ltd, another arm recognized by CySEC, FP Markets has grown bigger over the last few years.
Their globally recognized MT4 and MT5 are available on the web, mobile, and desktop platforms, while their advanced Iress trader platform is a favorite of many pro traders. They also offer a wide range of trading tools, some of which are Forex Calculators, MMM/PAMMM trading accounts, MT4 Trader Toolbox loaded with so many indicators and access gear like their ultra-modern AutoCharist.
If you like to trade on platforms with innovative features, FP Markets should be your go-to platform.
FXTM is another highly rated CySEC regulated forex broker to make our list. Also known as ForexTime in full, this platform is solely focused on foreign exchange buying and selling. There are as many as 50 currency pairs that you can trade on FXTM. There are minor, major, and exotic pairs available to traders. As for the leverage, the maximum ratio is 1000:1.
FXTM also offers competitive spreads for 24 hours trading and is open for five days during a trading week. Operating from Cyprus, FXTM has been able to build a client list from across the globe, and the platform continues to expand. Besides CySEC, it is predominantly regulated by a host of EU regulators like the International Financial Services Commission (IIFSC). If you are looking for a forex-centric brokerage, FXTM is an ideal choice.
Founded in 2008, this CySEC regulated forex broker has been able to carve a niche for itself in the world of online trading and is still going strong. This entity is a joint venture between Nymstar LTD and Vlerizo LTD. The brand is registered in Seychelles and is also regulated by the Financial Sector Conduct Authority of South Africa.
On Exness, you can trade more than 200 CFD instruments like Energies, Forex. Indices, Stocks, Cryptocurrencies, and Metals. Traders are also free to choose between MT4 and MT5. Or better still, they can use their proprietary trading platform called WebTrader. Exness platforms are available in MAC, Windows, and Web formats.
A CySEC broker is an online broker who operates using a CySEC issues license.
CySEC is Cyprus Securities and Exchange Commission. This body is responsible for regulating online forex trading in Cyprus, but their license is recognized globally. They ensure that brokers operating within their jurisdiction play by the rules.
Yes, they are. A CySEC broker has a secure platform, and they operate based on stringent rules laid down by CySEC.
No. All brokers have different minimum deposit requirements. Some brokers allow $50 deposits, while some can be as high as $1000.
No single CySEC regulated forex broker can claim to be the best because there are quite a few good ones. So you need to do your research well and pick one that offers the features you are looking for.