CySEC (Cyprus Securities and Exchange Commission) is a prominent regulatory body for brokers within the European Union. One basic foundation of a successful Forex trading experience is security. To ensure safety, it is essential to utilise the services of a reliable broker under the supervision of a regulatory body. CySEC is an example of such a regulatory organisation. Let us review five of the best CySEC-regulated Forex brokers.
Based on our analysis at WR Trading, these are the top 5 CySEC-regulated Forex brokers:
Broker:
Regulation:
Advantages:
Account:
CySEC
- More than 350 underlying assets
- Spreads from 0.1 Pips
- Leverage up to 1:30 for retail clients
- Demo Account
- 100€ Minimum Deposit
- Libertex Platform, MT4/MT5
CySEC
- $50 Minimum Deposit
- Zero commission for real stocks and ETF trades, 1% on cryptos
- 5,000+ Markets
- eToro investing platform and app
CySEC
- Tier-1 Regulated Broker
- Spreads from 0.0 Pips
- Leverage up to 1:500 (1:30 EU)
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader
CySEC
- No Minimum Deposit
- Spreads from 0.0 Pips
- Leverage up to 1:500
- Low Commissions from $4/1 Lot
- MetaTrader 4/5, cTrader, FxPro Edge
CySEC
- Spreads from 0.0 Pips
- Leverage up to 1:200
- Commission from 0% per lot
- 2,100+ tradable assets
- xStation 5, xStation Mobile
#1 Libertex
As our best CySEC-regulated CFD broker, Libertex has over a decade of experience and has won numerous awards in this field.
Libertex was voted the best trading platform in the FX Report Awards 2022 and CFD broker of the year in the Pan Finance Awards 2024. Furthermore, this broker offers access to underlying assets, including FDs on Indices, Metals, Stocks, Forex, Commodities, Bonds, ETFs, oil and gas, and cryptocurrencies
Libertex is a fan favourite because, in addition to CFD trading, you can invest in real shares. You can buy shares from leading corporations such as Facebook, Microsoft, and Apple. We observed that it is a good choice for people who love high interest rates. Additionally, Libertex offers comprehensive educational materials for traders on its website, catering to traders of all experience levels.
Key Facts About Libertex:
| Feature | Information |
|---|---|
| Founded | 2012 |
| CySEC Regulation | Yes |
| Headquarters | Cyprus |
| Trading Platforms | MetaTrader 4, MetaTrader 5, Libertex |
| Accounts | Libertex Invest, Libertex Trading Account, Demo Account |
| Account Currency | Euro |
| Transaction Options | Bank cards, Skrill, Neteller, Rapid transfer, Wire transfer, PayPal, Paysafe, Trustly, Help2Pay |
| Minimum Deposit | 100€ |
| Leverage | Up to 1:30 Under for retail clients |
| Min Order | 0.01 lot |
| Spread | From 0.01 pips |
| Instruments | Cryptocurrency, Stocks, Indices, commodities, ETFs, bonds |
| Mobile Trading | Yes |
| Affiliate Program | Yes |
| Trading Features | Economic Calendar, Daily Digest, News, Auto-Trading, Quick-Take Profit, Trade from the Chart, Dividends Section, Hot Assets |
#2 eToro
eToro comes second, according to our analysis at WR Trading. This broker has established itself in the global finance sector. It has over 5,000 tradable assets, including ETFs, cryptocurrencies, stocks, commodities, CFDs, and Forex. Depending on a trader’s preference, the eToro trading platform offers long-term, short-term, and mid-term investment options.
eToro has a VIP program with five membership levels, ranging from Silver to Diamond. This VIP program offers benefits such as dedicated account management, priority support, and enhanced leverage.
The eToro group is closely associated with top-tier banking institutions, ensuring secure and reliable financial transactions. eToro’s CopyTrader helps you duplicate the moves of more successful traders in real-time. This broker facilitates social interaction via its news feed, which allows traders to share trading strategies, insights, and market updates.
Key Facts About eToro:
| Feature | Information |
|---|---|
| Founded | 2007 |
| CySEC Regulation | Yes |
| Headquarters | Israel |
| Trading platforms | eToro money, eToro app |
| Accounts | Retail Client, Professional Client |
| Account Currency | AUD, CAD, CHF, CZK, DKK, GBP, HKD, ILS, MXN, NOK, NZD, PLN, SGD |
| Transaction Options | Etoro Money, Bank Transfer, Bank Cards, PayPal, Skrill, Neteller, Klarna |
| Minimum Deposit | $50 |
| Leverage | 30:1 under CySEC |
| Min Order | 0.01 lot |
| Spread | From 1.0 pips |
| Instruments | Stocks, Indices, ETFs, Commodities, Crypto Assets, Currencies |
| Liquidity Provider | Multiple Tier 1 Liquidity Provides |
| Mobile Trading | Yes |
| Affiliate Program | Yes |
| Trading Features | CFDs, Stocks, Copy Trading, and Social Trading |
#3 Pepperstone
We have ranked Pepperstone as our third-best CySEC-regulated broker. Since its founding in 2010, this company has established a firm presence in over 160 countries. It offers investors the opportunity to trade more than 1200 CFDs covering commodities, shares, Forex, and indices. Pepperstone supports cTrader, TradingView, MetaTrader 4, and MetaTrader 5.
You can get any of these apps from the App Store or the Play Store. Furthermore, it offers three types of accounts: Razor, Swap-free, and Standard. This broker employs experienced trading analysts who stay current with market trends and provide reliable reports regularly.
It allows amateurs to copy the successful strategies of more experienced traders. Pepperstone has a dedicated customer support team to tackle people’s challenges during trading hours. It provides sufficient educational resources to help new investors begin their journey.
Key Facts About Pepperstone:
| Feature | Information |
|---|---|
| Founded | 2010 |
| CySEC Regulation | Yes |
| Headquarters | Australia |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Pepperstone Trading Platform |
| Accounts | Standard, Razor, Swap-Free |
| Account Currency | USD, EUR, CAD, AUD, JPY, GBP, NZD, CHF, SEK, CNY |
| Transaction Options | Bank Transfer, Credit/Debit Card, Bpay, PayPal, Skrill, Neteller |
| Minimum Deposit | $0 |
| Leverage | 30:1 under CySEC |
| Min Order | 0.01 lots |
| Spread | From 0.0 pips |
| Instruments | Forex, Commodities, Indices, Cryptos |
| Liquidity Provider | Multiple Tier-1 liquidity providers |
| Mobile Trading | Yes |
| Affiliate Program | Yes |
| Trading Features | Negative Balance Protection, No swap accounts, One Click Trading, Autochartist, cTrader Automate, API trading, Smart Trader Tools for MetaTrader |
#4 FxPro
As our fourth-rated CySEC broker, FxPro is known for its minimal spread on the most popular instruments. This broker, with its head office in London, was established in 2006 and received a license from CySEC in 2007.
FoxPro has a presence in more than 170 countries. This broker boasts a track record of excellence, having won up to 170 awards. At the Ultimate Fintech Awards in 2021, FxPro was the most trusted broker of the year.
Traders on FxPro can trade metal commodities, purchase shares in several well-established companies worldwide, or invest in the energy industry. They can experience low-latency trading, as orders are executed in as little as 113 milliseconds.
FxPro offers three types of accounts: Standard, Raw+, and Elite. The standard account is ideal for all kinds of traders. You have access to micro lot trading and spreads starting from 1.2 pips and a minimum deposit of $100.
The Elite account is perfect for high-volume traders who can afford a minimum deposit of $30,000. However, FxPro offers Elite account holders rebates of up to 21% of their commissions and zero spreads. This platform has a professional, dedicated, and multilingual customer support team.
Key Facts about FxPro:
| Feature | Information |
|---|---|
| Founded | 2006 |
| CySEC Regulation | Yes |
| Headquarters | London |
| Trading Platforms | FxPro Trading Platform, MetaTrader 4, MetaTrader 5, cTrader |
| Accounts | Standard, Raw+, Elite |
| Account Currency | GBP, EUR, USD, JPY, PLN, AUD, CHF, ZAR |
| Transaction Options | Bank Cards, Bank Wire Transfers, Skrill, Neteller, Paypal |
| Minimum Deposit | $100 |
| Leverage | 1:30 under CySEC |
| Min Order | 0.01 lot |
| Spread | From 0.0 pips |
| Instruments | Index futures, Shares, Indices, Energy futures, Energy, Metals, Shares |
| Liquidity Provider | Multiple tier-1 liquidity providers |
| Mobile Trading | Yes |
| Affiliate Program | Yes |
| Trading Features | Negative balance protection, Ultra-fast execution, and more |
#5 XTB
As our fifth-ranked CySEC-regulated broker, XTB boasts over 20 years of experience in the financial markets. According to Statista and Financial Times, XTB will be one of Europe’s fastest-growing companies in 2024. It provides access to up to 6000 tradable assets, including ETFs, stocks, commodities, and Indices.
In addition to being regulated by CySEC, XTB holds a license from the Cayman Islands’ Financial Services Commission (FSC).
The XTB mobile app (xStation) can work with a wide range of operating systems and browsers. On this broker, you will gain access to comprehensive educational resources. The broker offers valuable articles that will teach you how to create an account and navigate the website. Furthermore, the academic section contains tutorials on the basics of investing, a glossary, and advice on investment plans. XTB investment schemes take place via automated payments.
Key Facts about XTB:
| Feature | Information |
|---|---|
| Founded | 2002 |
| CySEC Regulation | Yes |
| Headquarters | Poland |
| Trading Platforms | xStation 5, xStation Mobile |
| Accounts | Standard, Pro, and Islamic |
| Account Currency | USD, EUR, GBP |
| Transaction Options | Skrill, Neteller, PayPal, Bank Cards, Bank Transfer |
| Minimum Deposit | $0 |
| Leverage | 30:1 for EU residents |
| Min Order | 0.01 lot |
| Spread | from 0.1 pip for PRO and 0.5pips for Standard |
| Instruments | Forex, Commodities, Shares, Real Estate Investment Indices, Equity Indices, ETF |
| Liquidity Provider | Multiple Tier 1 liquidity providers |
| Mobile Trading | Yes |
| Affiliate Program | Yes |
| Trading Features | One-click trading, Market Analysis, and more |
What Is The CySEC Regulation?
The Cyprus Securities and Exchange Commission (CySEC) is a regulatory organisation responsible for overseeing the brokerage sector in Cyprus. It is a popular regulator for several binary options brokers. Some of the roles of CySEC include:
- Maintenance of a stable trading environment by enforcing regulations and preventing fraudulent parties.
- Supervision of financial advisors, investment firms, and brokers.
- Authorisation of licenses for financial companies
- Enforcement of Anti-Money-Laundering (AML) regulations
- Performance of periodic audits and inspections of registered firms
How We Tested the Best CySEC-Regulated Forex Brokers:
At WR Trading, we considered certain key factors before recommending our favourite CySEC brokers. Let’s examine some of them.
Trading Conditions
Our primary focus was on the availability of a wide variety of tradable instruments, including stocks, indices, and commodities. We checked for the provision of minor, major, and exotic Forex pairs. Our analysts reviewed general trading conditions, including order execution speed, leverage options, and commission structure.
Types of Account
We checked the types of available accounts, considering their features, minimum deposits, and rewards. We verified that the account types were compatible with every trader, depending on their level of skill and experience.
Payment Processing
From our analysis at WR Trading, we checked for the availability of several transaction methods on the CySEC-regulated brokers. We evaluated the processing periods for the payment methods.
How to Find Out if Your Broker is CySEC-Regulated?
To verify that your broker is CySEC-regulated, use any of the following two methods.
Use the CySEC Official Website
Navigate to CySEC’s website. Click on the “Public Register” section. This section contains all CySEC-regulated organisations. Input the name of your broker and search for it.
After completing the search, verify the license number and any restrictions associated with the company’s license. This information should match the regulatory framework details on the broker’s website.
If you are still unsure, please contact CCySEC via phone or email.
Check the Broker’s Website
Reliable brokers usually put their CySEC regulatory status and license number at the bottom of their homepage. You might find it in their “About Us” section.
What Arotection FDoCustomers Have to Trade Under the CySEC Regulator?
CySEC has set several standards to protect traders and investors. Some of them include:
Segregation of Client Funds
CySEC requires brokers under its jurisdiction to separate the company’s operational account from clients’ deposits. This prevents brokers from using client funds for their operational expenses.
Investor Compensation Fund (ICF)
The purpose of the Investor Compensation Fund (ICF) is to compensate clients if the broker can’t meet its financial commitments. This serves as a form of insurance for traders, as ICF can pay them up to €20,000 in the event of such an occurrence.
What are the Pros and Cons of CySEC-Regulated Brokers?
At WR Trading, we have observed that CySEC brokers are not flawless and still have areas for improvement. Let’s look at their advantages and disadvantages.
Pros
- Security of Funds
- Equity and Fairness
- Good Customer Service and Easy Conflict Resolution Process
- Availability of Educational Resources
Cons
- Limitations in Choices
- Higher Fees
Pros
We noticed that the benefits of trading with a CySEC-regulated broker are numerous. However, here are 4 of these advantages.
CySEC-regulated brokers have a mandate to protect investors’ deposits. CySEC typically requires brokers to place clients’ funds in specially designated bank accounts and leave them untouched.
Most professional traders are assured that CySEC-regulated brokers will be transparent about all their business dealings. To date, there have been no reports of massive-scale fraud, such as dishonest promotions or fund losses.
CySEC regularly supervises the operations of all financial companies under its jurisdiction. CySEC brokers usually provide reports on their activities and overall economic performance. They undergo regular checks or audits from CySEC.
CySEC brokers are typically required to respond to customers’ complaints in a timely and reliable manner. If any disagreement arises between you and a CySEC broker, there is a certainty that you can tender your case and receive a fair judgment. There is no guarantee of this fairness with an unregulated broker.
Traders will receive access to academic courses, trading materials, and the necessary training tools on CySEC-regulated brokers. This way, people can improve their knowledge and skills. CySEC-certified financial brokerage companies usually have
Cons
Here are a few downsides to consider when training with a CySEC-regulated broker.
Trading with only CySEC-regulated brokers will limit your options. Furthermore, you might not have access to the higher leverage and flexible trading conditions associated with unregulated brokers. Regulated brokers have a fixed standard that all clients must meet.
You may incur higher commissions or charges when trading with a CySEC-validated broker. Such a broker must pay a compliance levy and a license renewal fee, which will be passed on to the broker. You might need to pay duties on every profit made while trading.
What Are the Criticisms of the Cysec Regulation?
After conducting extensive research into CySEC’s track record, we noted that some traders have expressed constructive, yet critical, opinions about this regulatory body. Some people believe that CySEC is permitting inexperienced traders to handle high-leverage CFDs and binary options, which could potentially lead to substantial losses.
Several traders have requested that CySEC enhance its protection services for retail traders. Others have complained that CySEC doesn’t enforce regulations stringently enough.
Despite these criticisms, we still believe that CySEC-regulated brokers are ideal for almost any trader.
Conclusion
Before trading with any trading broker, one of the first considerations to make is the broker’s regulation. CySEC-regulated Forex brokers are among the most secure financial institutions for traders. However, WR Trading has simplified your search by identifying 5 of the best platforms after conducting extensive research. Sign up with any of these brokers and trade without fear.
Once again, here is our list of the five best CySEC-regulated Forex Brokers:
- Libertex – One of the best CySEC-regulated brokers
- eToro – Multi-asset and social investment enterprise
- Pepperstone – Low withdrawal requirement
- FxPro – Access to deep liquidity
- XTB – 0% Commission on all supported markets
Frequently Asked Questions:
Why Should I Select a CySEC-Regulated Forex Broker?
You will not become a victim of financial fraud or loss of funds. Furthermore, all CySEC Forex brokers are subject to strict regulations to protect investors. As a result, they are usually fair and transparent in their overall operations.
Even if a dispute arises, traders can follow the due legal process to protect their rights. Additionally, CySEC-regulated brokers are required to participate in the Investor Compensation Fund (ICF), which safeguards clients’ funds in the event of the broker’s bankruptcy.
How Do I Verify That a Forex Broker is Truly CySEC-Regulated
Go to the broker’s official website. The broker should clearly state that CySEC regulates it. It must have a license number that you can validate on CySEC’s official website. Furthermore, you can go through the websites of reputable third-party financial institutions.
They might have the names of CySEC-regulated brokers. The most reliable way to find out is to contact CySEC through their social media channels or email address.
What Standards Does A Broker Have to Meet to Get CySEC Certification?
The broker must have a history of complying with European and local financial trading regulations and standards. It must prove that it stores users’ funds in a segregated account. The broker must submit the required documents and continually comply with CySEC’s standards after registration.
For other regulators, see these comparisons:
