Looking to trade with Cyprus Forex broker? Not sure which Cyprus broker is best for you? Or need to verify if your broker is truly regulated by Cyprus CySEC?
We provide answers to all the questions in this article. We researched and compared over 50 Cyprus reputable Forex brokers including their regulation status, spread & commission, the time for deposit & withdrawal and many more findings.
CySEC Regulated Cyprus Forex Brokers
Cyprus Forex Brokers must obtain a license from the local authority CySEC (Cyprus Securities and Exchanges Commission). Cyprus is one of the largest Europe’s financial and Forex trading hubs with its authority CySEC compliant to ESMA and MiFID Europe directives. Check historical breakdown on CySEC Wikipedia.
CySEC is considered a tier-2 authority and provides good control and security for its Regulated Forex Brokers. There is a guarantee in case of the broker insolvency and protecting up to €20,000 per client. You can identify the number of your broker and check its record on CySEC official website: www.cysec.gov.cy, also follow Twitter @CySEC_official for latest updates
Best Forex brokers in Cyprus
To find the best forex brokers in Cyprus, we researched and compared over 50 Cyprus CySEC regulated brokers including the license, spread & commission, deposit withdrawal time, trading platform, education and tools, customer service and almost all details. Here is our list of the best forex brokers in the Cyprus.
- IG – Best Overall Forex Broker in Cyprus
- XM – Best Broker for beginners in Cyprus
- RoboForex – Best ECN Broker in Cyprus
- OANDA – Best Trading Platform in Cyprus
- FP markets – Best MT4 & MT5 Broker in Cyprus
What makes a good forex broker in Cyprus?
There are 4 keys make good Cyprus brokers including license, trading conditions, education & tools, and customer support.
- Must have a license from CySEC Cyprus ensuring fund safety
- Offer good trading conditions and competitive spreads, pool of markets and instruments
- Provide quality education material including Webinars, utorial videos, and research tools
- Good customer service with quick answers and support to solve traders issues
Top 10 Forex Brokers List & Forex Broker Review
We also narrow the list of numerous reputable Forex brokers in Cyprus down to the top 10 of our picks along with our review in this table. All brokers below are regulated by CySEC and typically other world regulators. You can see which broker might fit your need the best.
|Forex Broker||CySEC Regulated||Why they are our top picks||Our Review|
|IG||Yes||IG might be the best fit if you are looking for the best overall forex broker in Cyrpus. IG is a publically traded broker, while most are not and offers 12 markets (most brokers 4,5) across 17000+ instruments, 100+ webinars per month and amazing customer support.||Visit IG site|
|GO Markets||Yes||If you wish to use popular MetaTarder4 and run EAs GO Markets might be your choice. EAs are included with no restrictions, plus GO Markets has different account and powerful tools like MT4 Genesis, a-Quant strategies, etc.||Visit GO Markets site|
GO Markets Review
|XM||Yes||XM is the best for beginners, the deposit is very low only 5$. Plus XM providing good range of tools, quality support and education materials with numerous Webinars.||Visit XM site |
|OANDA||Yes||OANDA might be the best fit if you are looking for a great desktop trading platform. You can trade directly from 10+ chart types, customize layouts and integrated market data and tools right on the platform.||Visit OANDA site|
|FP Markets||Yes||FP Markets might be the best fit if you are trading on MT4 or MT5. FP markets offers both MT4 & MT5 and provides tools like Smart Trader, AutoChartist which works best with MetaTrader platforms. Also FP Markets support is great.||Visit FP Markets site|
FP Markets Review
|FxPro||Yes||FxPro might be the best for currency trading. You can choose from numerous trading instruments and currencies, also FxPro constantly runs promotions and offering competitive trading conditions for traders on various platforms including cTrader.||Visit FxPro site|
|eToro||Yes||eToro might be the best for Copy Trading. There are thousands (not hundreds – thousands) of top traders and copy trading portfolios. eToro is the best for number top traders and transparency of trader’s performance.||Visit eToro site|
|BDSwiss||Yes||BDSwiss might be the best for investors and bigger size traders. There are various account offered and costs are low for Raw Account with 0 spread plus 5$ commission only plus great range of tools and services included. Also, BDSwiss is Switzerland regulated broker that provides extra transparency.||Visit BDSwiss site|
|Admiral Markets||Yes||Admiral Markets is one of the best fit if you are looking for a low spread broker. Admiral Markets EURUSD spread is 0.6 at average, almost 45% lower compared to other brokers offering 1.1||Visit Admiral Markets site|
Admiral Markets review
|RoboForex||Yes||RoboForex might be the best fit if you are looking for a ECN account. RTrader proprietary platform is great and using ECN connections. With 100$ at start you get good costs 15$ commission per million with ECN environment, while there are only 9 broker offering ECN accounts.||Visit RoboForex site|
More on Cyprus Brokers
To get started with Cyprus brokers it is better to narrow your selection with specified categories and compare Forex Brokers Reviews.
Russian Forex Brokers in Cyprus
Russian Forex Brokers in Cyprus like brand Alpari originate from Russia and then moved all operation and headquarter to Cyprus.
Cyprus Best Forex Brokers for Beginners
Beginners should select broker with quality education and support service to start trading correctly. Best Beginners broker with oofer good Weinars, courses and research tool. Like IG Education section.
Cheapest Forex Brokers in Cyprus
Cheapest forex brokers are the brokers with lowest spread offering. Averaging around 1.3 pips for EUR USD pair low or cheapest brokers are the one offering lower spread. One of the lowest spreads we found by Pepperstone or Admiral markets.
ECN Forex Brokers Cyprus
ECN Forex Brokers offering lowest spread and commission basis ECN accounts that are connecting your trades via the bridging technology to the market. ECN environment providing RoboForex.
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.