Best CySEC Regulated Forex Brokers 2022
You’ll be surprised by how many brokers are based out of Cyprus these days. Some good, some not so good, but the majority regulated by CySEC. In this article we’ll explore the background of the CySEC regulation and we’ll also show you the best CySEC regulated Forex Brokers based on our intense research into the operators.
The brokers below represent the best CySEC Regulated Forex Brokers
| Broker | Official Site | Regulations | Min Deposit | Max Leverage | Trading Platforms | Foundation Year | Publicly Traded | Trading Desk Type | Currencies | Commodities | Indices | Stocks | Crypto | offers promotions |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 | Visit Broker> This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services. | CySEC, FSC, BaFin, FSA(SC) | $10 | 1:30 (CySEC), 1:500 (FSC), 1:30 (BaFin), 1:500 (FSA(SC)) | MT5, Proprietary, WebTrader | 2012 | Market Maker, STP | |||||||
 | Visit Broker> Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. | ASIC, CySEC, FSA(SC) | $200 | 1:30 (ASIC), 1:30 (CySEC), 1:500 (FSA(SC)) | MT4, MT5, cTrader | 2007 | ECN, No dealing desk | |||||||
 | Visit Broker> DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations. | ASIC, CySEC | $100 | 1:30 (ASIC), 1:30 (CySEC) | MT4, MT5, IRESS, WebTrader | 2005 | DMA, ECN, No dealing desk, STP | |||||||
 | Visit Broker> General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs. | FCA, CySEC, FSCA, FSA(SC) | $10 | 1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:500 (FSA(SC)) | MT4, MT5 | 2008 | Market Maker, No dealing desk | |||||||
 | Visit Broker> FX and CFDs trading involves a high risk of loss | CySEC, FSA(SC) | $50 | 1:30 (CySEC), 1:500 (FSA(SC)) | MT4, MT5 | 2019 | DMA, ECN, Market Maker | |||||||
 | Visit Broker> Your capital is at risk. | ASIC, CySEC, VFSC, SVGFSA | $50 | 1:30 (ASIC), 1:30 (CySEC), 1:500 (VFSC), 1:500 (SVGFSA) | MT4 | 2006 | ECN, STP | |||||||
 | Visit Broker> 77% of retail CFD accounts lose money. | FCA, ASIC, CySEC, ISA, MAS | $100 | 1:30 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:100 (ISA), 1:20 (MAS) | Plus500 | 2008 | No dealing desk | |||||||
 | Visit Broker> 68% of retail CFD investors lose money | FCA, ASIC, CySEC, MiFID | $199 | 1:-2 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:30 (MiFID) | eToro Platform | 2007 | Market Maker, No dealing desk, STP | |||||||
 | Visit Broker> 82% of retail CFD accounts lose money | FCA, CySEC, FSC | $10 | 1:30 (FCA), 1:30 (CySEC), 1:3500 (FSC) | MT4, MT5 | 2011 | No dealing desk |
BDSwiss
Regulated By:CySEC, FSC, BaFin, FSA(SC)
Foundation Year:2012
Headquarters:Cyprus
Min Deposit:$10
This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services.
BDSwiss was founded in 2012 and offers trading accounts regulated under the Mauritius Financial Services Commission and the Cyprus Securities and Exchange Commission.
Users can trade on more than 250+ financial CFD instruments covering Forex, Commodities, Cryptocurrencies, Indices and Equities, on 3 account types called Classic, VIP and Raw on the MetaTrader 4 and MetaTrader 5 trading platforms and the broker’s own BDSwiss Web Trader and BDSwiss Mobile App.
The broker also offers educational events via live analysis and educational webinars and seminars, as well as a beginner to advanced courses in its Trading Academy. Users can also access AutoChartist and live trading alerts via Telegram, depending on account type. Customer service is offered 24/5.
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IC Markets
Regulated By:ASIC, CySEC, FSA(SC)
Foundation Year:2007
Headquarters:Australia
Min Deposit:$200
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
IC Markets was founded in Sydney, Australia in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the Seychelles Financial Services Authority (FSA). According to the broker’s website, they processed $646 billion worth of trading volume in April 2019 alone.
While the broker offers services and features designed for both beginner and professional traders, the company promote themselves as the ‘go to’ choice for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre – processing over 500,000 trades per day.
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FP Markets
Regulated By:ASIC, CySEC
Foundation Year:2005
Headquarters:Australia
Min Deposit:$100
DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Traders can use the globally-recognised MetaTrader 4 and MetaTrader 5 trading platforms for desktop, web and mobile, as well as, the Iress active trader trading platform. Traders can also access a wide variety of trading tools which include MAM/PAMM accounts, VPS services, Forex calculators, an MT4 Trader Toolbox full of additional indicators and access to AutoChartist.
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Exness
Regulated By:FCA, CySEC, FSCA, FSA(SC)
Foundation Year:2008
Headquarters:Cyprus
Min Deposit:$10
General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.
Exness was founded in 2008 and is a joint brand name of Nymstar Limited, a Securities Dealer registered in Seychelles authorised and regulated by the Financial Services Authority (FSA) of Seychelles, and Vlerizo (Pty) Ltd – a Financial Service Provider authorised and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.
The broker offers clients the ability to trade on 200+ financial CFD instruments covering Forex, Shares, Indices, Energies, Metals and Cryptocurrencies, from its WebTrader platform and the globally renowned MetaTrader 4 and MetaTrader 5 platforms for Web, Windows and MAC.
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Errante
Regulated By:CySEC, FSA(SC)
Foundation Year:2019
Headquarters:Seychelles
Min Deposit:$50
FX and CFDs trading involves a high risk of loss
Errante was founded in 2019 and is the brand name of Errante Securities (Seychelles) which manages the domain name www.errante.com and authorised and regulated by the Financial Services Authority (FSA) of Seychelles and has won the Best Forex Newcomer 2020 award from Forex Awards as seen here.
The broker also operates www.errante.eu which is a brand name of Notely Trading Ltd and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). However, this entity is not the subject of this review.
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Royal
Regulated By:ASIC, CySEC, VFSC, SVGFSA
Foundation Year:2006
Headquarters:Cyprus
Min Deposit:$50
Your capital is at risk.
OneRoyal was founded in 2006 and is regulated by the Australian Securities & Investments Commission (ASIC) for wholesale clients only, the Cyprus Securities & Exchange Commission (CySEC), Lebanese Capital Markets Authority (CMA) and the Vanuatu Financial Services Commission (VFSC).
The brand also operates as an International Business Company registered in St. Vincent and the Grenadines which is not unregulated. The focus of this review is on www.oneroyal.com, which is not limited to a specific entity and clients can trade with it anywhere. Thus some services and products listed may not be available in all jurisdictions.
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Plus500
Regulated By:FCA, ASIC, CySEC, ISA, MAS
Foundation Year:2008
Headquarters:Israel
Min Deposit:$100
77% of retail CFD accounts lose money.
Plus500 has been in the brokerage business for a decade. They boast of 317,000 clients from all over the world. They are properly regulated in four different countries including Australia, UK and Cyprus. The trading platforms are simple, user-friendly, fast and secure. Platforms that can be used across multiple devices and operating systems are available for trading in various situations.
No educational materials are available, which is a huge minus. Furthermore, no research materials (else then the economic calendar) or technical analysis is provided.
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eToro
Regulated By:FCA, ASIC, CySEC, MiFID
Foundation Year:2007
Headquarters:Cyprus
Min Deposit:$199
68% of retail CFD investors lose money
eToro is an online trading platform that was founded in 2007 by the Assia siblings and their friend David Ring in Tel Aviv, Israel. Formerly known as RetailFX, eToro is the pioneering online broker for social trading. Their Openbook social trading platform in fact changed the nature of the way beginner online traders can trade the financial markets. It made the markets accessible to everyone, no matter what their level of experience by creating a user-friendly environment and allowing traders to copy the trades of other traders’ strategies automatically.
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FXTM
Regulated By:FCA, CySEC, FSC
Foundation Year:2011
Headquarters:Cyprus
Min Deposit:$10
82% of retail CFD accounts lose money
FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.
Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available.
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Introduction to Forex Regulations
For many beginner traders who are new to online trading, the normal assumption is, if a broker is not regulated, then it is likely to be operating illegally. However, this is not the case for the forex market, as it is an OTC market with no specific regulations covering it. What you should be aware of is that most of the forex regulations that we often hear about only cover a specific jurisdiction and do not apply to the entire industry on a global scale. So if a forex broker is able to operate with no regulatory oversight, why bother regulating it? In fact proponents of the free market theory might argue that a market work most efficiently when it is not curtailed by any artificial regulations. While this might be true in theory, the reality is very much different.
Regulations unlike legislations are not written by the lawmakers but instead are crafted by bureaucrats based on their understanding of what the market needs in order to function smoothly. In other words, regulations are flexible and can change accordingly to circumstances unlike legislations which require amendments to the legislation before any changes can take effect.
over the last decade has become the major center for financial services providers to set up shop in Europe. Given the fact that Cyprus is also a member of the European Union (EU), under the MiFID (Markets in Financial Instruments Directive) rules, forex brokers are permitted to “passport” their authorization issued by CySEC and operate legally in other member states within the EU.
What is CySEC regulation?
The Cyprus Securities Exchange Commission or CySEC as it is often known, is the regulator for the financial industry in Cyprus. As a member state of the EU, it is required to abide by the regulatory framework as established under the Markets in Financial Instruments Directive. MiFID was passed by the European Parliament in 2008 in order to harmonize the regulations governing the financial services industry within the EU. It established the standards for financial services providers to follow. It is primarily focused on OTC transactions such as the forex industry.
When Cyprus joined the EU in 2004, this meant that CySEC fell under the MiFID rules. This gave firms regulated under CySEC access to the financial markets within the EU. While Cyprus was previously known internationally as a tax haven, as a result of the MiFID, the financial regulatory framework in Cyprus since then changed significantly to much higher standard on par with other major financial centers around the world. In fact, CySEC became the first major regulatory body in Europe with recognize and regulate binary options as a financial instrument.
CySEC’s Responsibilities
The main responsibilities of CySEC are as follows:
- Supervision and control of the Cyprus Stock Market
- Monitor transactions carried on the Cyprus Stock Market
- Monitor the conduct of listed companies and financial services providers
- Grant operation license to investment firms, consultants and brokers
- Monitor investment services companies, investments funds and related services
- Apply penalties or administrative sanctions for non compliance of regulatory requirements
How CySEC Regulation protects you
So how do CySEC regulations protect you as an investor? Since the majority of Europe’s regulated forex brokers fall under the jurisdiction of CySEC, the regulations imposed by CySEC have a strong impact on investor’s protection. It implies that forex brokers under the oversight of CySEC are required to operate with transparency and in a fair manner. Specifically as an investor trading with a CySEC regulated forex broker, you will benefit in the following manner:
- All your monies are kept in a segregated trust account which the broker is not permitted to access. This helps to prevent any abuse of your money by the broker. In other words, the broker is not allowed to use your money for its own operational needs. Another benefit of having your money separated from the broker’s own funds is that the fact that creditors of the broker cannot file a claim on this money as it is not part of the broker’s asset.
- Regulated brokers under CySEC are required to maintain sufficient capital to meet the capital adequacy ratio requirement. This is ensure that the broker have sufficient capital at all times to fulfill the contractual obligations arising out of the transactions of their clients.
- CySEC regulated brokers are required to submit regular financial statements to CySEC in order for the regulatory agency to monitor their compliances of the regulatory requirements. In this way, brokers will not be able to hide anything that is not in the interest of the investors.
- As part of the regulatory requirement, CySEC’s regulated brokers are required to submit an independently audited financial report to CySEC.
- Before any forex broker can be issued a licensed by CySEC, the broker is required to join the Investor Compensation Fund Scheme. The purpose of this fund is to protect investor should the broker becomes bankrupt and is unable to fulfill its contractual obligations. Under this scheme, an investor can file for compensation up to a maximum amount of 20,000 euros.
- Brokers are constantly kept on their toes to ensure they operate fairly as they run the risk of having sanctions and penalties imposed on them. In the worse case scenario, the offending broker might even lose its operational license.
Guidelines for CySEC Regulated Brokers
Before a forex broker can be issued a Cyprus Investment Firm (CIF) by CySEC, it must first be able to meet certain guidelines. Some of these guidelines include:
- Having more than one individual involved in the administration of the forex brokerage.
- Under its CySEC license application, the broker must list all the services and products which they plan to offer.
- Must have an initial share capital of at least 200,000 euros if they handle their clients’ funds.
- Must have an insurance coverage of at one million euros for individual loss and a total coverage of 1.5 million euros annually for losses resulting from inactions or negligence.
- CySEC Forex brokers should maintain at least €750,000 in operating capital.
Verifying the Authenticity Of CySEC Regulated Forex Brokers
In order to help investors and traders verify the authenticity of a CySEC regulated broker, CySEC has published a list of regulated brokers on its website which investors can refer to check the authenticity of a broker’s CIF license number. The link to this list is: http://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/
In addition, CySEC also regularly issue warnings on its website to warn investors of any unregulated broker claiming to be regulated by CySEC. This list is updated regularly and can be viewed at the following link: http://www.cysec.gov.cy/en-GB/public-info/warnings/cysec/
Conclusion
Although an unregulated forex broker does not necessarily mean that the broker is in any way inferior to a CySEC regulated broker, we have to bear in mind that CySEC’s main objective is to protect the interest of investors. It has no other vested interests except to maintain the reputation of Cyprus as an international major financial center. Furthermore, we should also remember that even regulated brokers can sometimes break the rules. The difference between the unregulated broker and a regulated broker is that for the latter, you have an independent body that will hold the broker accountable for its infractions. So ask yourself this, why should you accept any less from a broker when you obviously have a better choice in term of a CySEC regulated forex broker?
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