| Broker | Country | Rating | Min. Deposit | Website |
 | Cyprus | /5 | N/A | Read the review |
 | UK, EU, SA, Dubai | /5 | $5 | Read the review |
 | UK | /5 | n/a | Read the review |
 | Gibraltar | /5 | $125 | Read the review |
 | Cyprus, UK, South Africa, Seychelles, British Virgin Islands | /5 | $10 | Read the review |
 | Cyprus | /5 | €100 | Read the review |
 | Bulgaria | /5 | $500 | Read the review |
 | Cyprus | /5 | $100 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | UK, Cyprus | /5 | $1000 | Read the review |
 | UK, Cyprus, Hong Kong | /5 | $100 | Read the review |
 | Cyprus | /5 | $100 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Malta | /5 | $10Â 000 | Read the review |
 | Cyprus, Australia | /5 | $100 | Read the review |
 | Cyprus | /5 | - | Read the review |
 | Cyprus | /5 | - | Read the review |
 | Greece | /5 | $200 | Read the review |
 | Cyprus | /5 | $20 | Read the review |
 | Cyprus | /5 | n/a | Read the review |
 | Bulgaria | /5 | $200 | Read the review |
 | Cyprus | /5 | 200 EUR | Read the review |
 | Cyprus | /5 | 500 EUR | Read the review |
 | Cyprus | /5 | $100 | Read the review |
 | Cyprus | /5 | $2000 | Read the review |
 | Cyprus | /5 | $50 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Cyprus | /5 | $500 | Read the review |
 | Cyprus | /5 | n/a | Read the review |
 | EU, UK | /5 | $200 | Read the review |
 | Malta | /5 | $5 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Cyprus | /5 | $200 | Read the review |
 | Cyprus | /5 | €250 | Read the review |
 | Cyprus | /5 | $50 | Read the review |
 | Cyprus | /5 | €215 | Read the review |
 | Cyprus, Bermuda | /5 | $50 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Cyprus | /5 | $100 | Read the review |
 | Cyprus | /5 | €200 | Read the review |
 | Cyprus | /5 | $5 | Read the review |
 | UK, Cyprus, South Africa | /5 | £250 | Read the review |
 | Cyprus | /5 | $20 000 | Read the review |
 | Cyprus | /5 | N/A | Read the review |
 | Malta | /5 | €50 000 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Cyprus | /5 | N/A | Read the review |
 | Cyprus | /5 | $200 | Read the review |
 | Cyprus | /5 | $500 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Bulgaria | /5 | $250 | Read the review |
 | Spain | /5 | $100 | Read the review |
 | Bulgaria | /5 | $250 | Read the review |
 | Switzerland | /5 | $250 | Read the review |
 | Estonia | /5 | $500 | Read the review |
 | Bulgaria | /5 | $350 | Read the review |
 | Bulgaria, Marshall Islands | /5 | $1000 | Read the review |
 | Estonia | /5 | $250 | Read the review |
 | Hungary | /5 | $300 | Read the review |
 | Luxembourg | /5 | $250 | Read the review |
 | Ireland | /5 | $250 | Read the review |
 | Estonia | /5 | $250 | Read the review |
 | Bulgaria | /5 | N/A | Read the review |
 | Estonia | /5 | N/A | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Bulgaria | /5 | $2500 | Read the review |
 | Marshall Islands, Bulgaria | /5 | $2500 | Read the review |
 | Bulgaria | /5 | N/A | Read the review |
 | N/A | /5 | N/A | Read the review |
 | Marshall Islands | /5 | $100 | Read the review |
 | Bulgaria | /5 | $250 | Read the review |
 | Marshall islands, Bulgaria | /5 | $500 | Read the review |
 | Marshall Islands, Bulgaria | /5 | $500 | Read the review |
 | Luxembourg | /5 | N/A | Read the review |
 | Switzerland | /5 | $500 | Read the review |
 | Bulgaria | /5 | N/A | Read the review |
 | Bulgaria | /5 | $250 | Read the review |
 | Cyprus | /5 | $250 | Read the review |
 | Bulgaria | /5 | $500 | Read the review |
 | Bulgaria | /5 | $500 | Read the review |
 | Estonia | /5 | $250 | Read the review |
 | Ukraine | /5 | N/A | Read the review |
 | Estonia | /5 | $250 | Read the review |
 | Bulgaria | /5 | $220 | Read the review |
 | BVI | /5 | $300 | Read the review |
 | SVG | /5 | $100 | Read the review |
 | UK | /5 | $10 | Read the review |
Now that the UK is exiting the EU, Cyprus is becoming the most popular forex destination in Europe. We believe this is mainly due to the well-balanced financial regulation in this island country and the fact that it is a part of the European Union.
Forex brokers in Cyprus are referred to as Cypriot Investment Firms (CIFs) are required to meet a set of requirements and to adhere to certain rules, thus insuring the financial soundness and customer protection in the country. The governmental agency in charge of licensing and overseeing the activities of CIF is the Cyprus Securities and Exchange Commission (CySEC).
Advantages of doing business with a CySec regulated broker
Here are the main benefits of CySEC regulated brokers:
– Minimum Capital Requirement – CIFs must hold at least €730 000, which guarantees that the company is financially stable and has a serious long-term approach.
– Client Account Segregation – Whenever clients deposit money in their trading accounts, it is kept separate from the broker’s operating funds. Thus the clients’ money remains shielded in case of mishaps like a broker’s bankruptcy.
– Compensation Scheme – All brokers licensed in Cyprus are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.
– MiFID applies – Under the Markets in Financial Instruments Directive every CySEC-regulated investment company is entitled to offer its services to citizens of all EEA countries, without further hassle.
– Transaction reporting – Cypriot forex brokers are required to report their clients’ transactions on a regular basis. This requirement and other wide-ranging MiFID measures are designed to improve investor protection and promote market integrity and transparency.
The Leverage Cap & Negative Balance Protection
Speaking of MiFID and financial regulation on a European level, we have to mention another benefit of doing business with a CySEC-regulated broker, which is about to change. Until recently, there wasn’t a limitation on the maximum leverage provided by brokerages in Europe (except in Poland). Cypriot brokers were free to offer leverage of 1:500 or higher. As such high leverage can create immense levels of risk, which often prove to be devastating for unsophisticated clients, the European Securities and Markets Authority (ESMA) introduced a leverage cap of 1:30, which will take effect as of August 1, 2018.
That being said, the complete set of restrictions on the provision of contracts for differences (CFDs) to retail investors imposed by ESMA includes other measures, which protect the interests of traders. Most importantly, the EU regulator obliges all brokers to provide negative balance protection on a per account basis, which means that investors cannot lose more than they have deposited.
Below, you can find some of the best forex brokers, regulated in Cyprus.
EU brokers news
CySEC 2022 Annual Report Reveals Past Numbers and Future Plans
The CySEC has released an extensive report of its regulatory activities over the last year, 2022. The yearly summary discloses some important
6 New Illicit Trading Platforms Added to CySEC’s Blacklist
CySEC has updated its red list with an addition of 6 new unregulated websites that have proven to be risky investment endeavors.
CySEC Posts Interesting Results After Survey on Consumer Behavior
An interesting set of results published by CySEC following a survey on retail investor behavior reveal more about the decision making processes
CySEC Adds 5 New Scam Platforms to Blacklist
CySEC has updated its blacklist to include five new fraudulent websites, none of which have been authorized by the Cyprus Securities and
CySEC Issues Warning Against Copycat Sites, as Impersonators Pile
The Cypriot market regulator CySEC has issue a new warning pertaining to a new set of impersonating actors. The watchdog has warned
New Crypto-Asset Service Providers Policy Issued by CySEC
CySEC released a newly drafted policy on crypto-asset service providers (CASPs). The Cyprus Securities and Exchange Commission published this on Monday, and
Regulator Impersonators on the Rise, CySEC Warns
Last Friday the Cyprus-based CySEC, on the the world’s leading FX and CFDs regulators, issued a cautionary message acting as a warning
CySEC Fines X Global Markets For AML Defiance
CySEC released an announcement in which it is clear that the regulator has fined one X Global Markets Ltd with €50 000
CySEC Updates Warning List With 16 New Entries
CySEC, one of the world’s top FX broker regulators, has put 16 new fraudulent forex and crypto brokerages onto its big red
CySEC’s Temporary Permissions Regime For UK Firms Extended
CySEC is extending the application period for its recently integrated Temporary Permissions Regime (TPR) for all UK firms that wish to apply
CySEC Updates its Warning List with Six New Entries
The Cypriot financial watchdog CySEC updated its list of shady brokers with six new online companies offering unauthorized trading services. Many of
Blacklisted Brokers by CySEC include 24CryptoFXTrade, FalconFXOption, and others
CySEC, the renowned Cypriot regulator and FX license issuer, recently issued a warning against a list of brokers. These companies were offering
CySEC Blacklists 7 Domains, Warns Users Against Illicit FX Firms
Earlier today CySEC issued warnings against investing in a list of brokers, particularly those that involve forex trading, as well as CFDs
CySEC: All CIFs Required to Release Cross-Border Details for 2019 Period
CySEC announced an important piece of news that covers an extended European forex trading audience. According to the Cypriot watchdog, all Cypriot
CySEC proposes different leverage tiers for retail clients
Higher income customers will be able to trade major currency pairs with leverage as high as 1:50, while less affluent traders will
Cartel banks fined €1bln for forex rigging
The European Commission fined Citigroup Inc., Royal Bank of Scotland Group Plc, JPMorgan Chase & Co., Barclays and MUFG Bank a total
