CySEC (Cyprus Securities and Exchange Commission) is a prominent brokerage regulator within the European Union. One basic foundation of a successful Forex trading experience is security. To ensure safety, it is vital to utilize the services of a reliable broker under the supervision of a regulated body. CySEC is an example of such a regulatory organization. Let us review five of the best CySEC-regulated Forex brokers.
Based on our analysis at WR Trading, here are our 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, CFD broker of the year in the Pan Finance Awards 2024. Furthermore, this broker offers access to underlyingassets such as CFDs on Indices, Metals, Stocks, Forex, Commodities, Bonds, ETFs, Oil and Gas and Cryptocurrency.
Libertex is also a fan favorite because along with CFD trading you are able to 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. In addition, Libertex has also detailed educational materials for traders on its website that are available for all levels of experience.
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 firmly in the global finance sector. It has over 5,000 tradeable assets which include ETFs, cryptocurrencies, stocks, commodities, CFDs, and Forex. Depending on a trader’s preference, there are long-, short-, and mid-term investment options on the eToro trading platform.
eToro has a VIP program with five membership levels, ranging from Silver to Diamond. This VIP program provides benefits like dedicated account management, priority support, and increased leverage.
The eToro group is in close association with top-class 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 also 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 Play Store. Furthermore, it offers three types of accounts: Razor, Swap-free, and Standard. This broker has experienced trading analysts who keep up with market trends and provide reliable reports by the hour.
It also 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 also provides sufficient educational resources for new investors to start 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 has a track record of excellence, as it has 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 the shares of several well-established companies worldwide, or invest in the energy industry. They can also experience low-latency trading, as orders are executed as fast as 113ms.
FxPro offers three types of accounts: standard, raw+, and elite. The standard account is perfect for any type of trader. 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 also 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 has more than 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.
Apart from being under CySEC’s regulatory framework, XTB has a license from the 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 vial articles that will teach you how to create an account and navigate the website. Furthermore, the educational 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 brokerage regulatory organization situated 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.
- Authorization 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 favorite CySEC brokers. Let’s examine some of them.
Trading Conditions
Our primary focus was the availability of a wide variety of tradable instruments, such as stocks, indices, and commodities. We also checked for the provision of minor, major, and exotic Forex pairs. Our analysts checked general trading conditions, such as order execution speed, leverage options, and commission structure.
Types of Account
We checked for the types of available accounts while considering their features minimum deposit, and rewards. We also 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 also 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 organizations. Input the name of your broker and search for it.
After completing the search, check for the license number and restrictions related to the company’s license. This information should match the regulatory framework details on the broker’s website.
If you are not still certain, contain CySEC via phone number 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 also find it in their “About Us” section.
What Are Protection For Customers Who 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 such an event.
What are Pros and Cons of CySEC-Regulated Brokers?
At WR Trading, we have noticed that CySEC brokers are not perfect and still have room 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
- Limitation 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 requests that brokers 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 hasn’t been any report of massive-scale fraud, such as dishonest promos or funds loss.
CySEC regularly supervises the operations of all financial companies under its jurisdiction. CySEC brokers usually provide reports on their activities and overall financial performance. They also undergo regular checks or audits from CySEC.
CySEC brokers are usually required to respond to customers’ complaints in a 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 the few downsides that you will experience while training on a CySEC-regulated broker.
Trading with only CySEC-regulated brokers alone will limit your range of choices. 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 might pay higher commissions or charges while trading with a CySEC-validated broker. Such a broker has to pay a compliance levy and license renewal fee, which will be rolled down to the broker. You might also need to pay duties on every profit made while trading.
What Is The Criticisms of the Cysec Regulation?
After our intense research into CySEC’s track record, we noticed that some traders have expressed constructive critical opinions of this regulatory body. Some people believe that CySEC is permitting inexperienced traders to handle high-leverage CFDs and binary options, potentially leading to massive losses.
A number of traders want CySEC to improve its retail trader protection services. 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 one of the most secure financial institutions for any trader. However, WR Trading has simplified your search by naming 5 of the best platforms after intense research. Sign up on any of these brokers and trade without fear.
Once again, here is our list of the 5 best CySEC-Regulated Forex Brokers:
- Libertex – One of the best CySEC-regulated broker
- 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. Also, CySEC-regulated brokers must participate in the Investor Compensation Fund (ICF), which secures clients’ funds if the broker goes bankrupt.
How Do I Verify That a Forex Broker is Truly CySEC-Regulated
Go to the broker’s official website. The broker should specify that CySEC regulated its operations. It must also 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 surest way to find out is to contact CySEC via 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:
