Are you looking for reliable Forex brokers regulated by CySEC? Search no further – you’ll find the complete list of the top 5 CySEC Forex brokers right here.
The Forex market is the world’s largest trading market, where nearly $5 trillion traded daily. It is a legitimate trading market where the world’s currencies are traded.
While Forex is not a scam in itself, there are many scam Forex brokers in the market.
That’s why you shouldn't be in a hurry to start trading before reading our top CySEC regulated Forex brokers.
Why you should choose regulated Forex brokers?
To protect yourself from fraudulent FX brokers, you should choose regulated Forex brokerage firms.
A regulated broker is one whose actions are monitored by a regulator. Financial regulators aim to prevent and investigate fraud in the FX market. They keep the market transparent and make sure that clients are treated with fairness, and their funds are safe, and data is secure.
On the other hand, non-regulated Forex brokers have no control of that kind. Hence, they create opportunities for illegal market activities, including unwarranted commissions, loose spreads, hidden Terms and Conditions, and even withdrawal restrictions. Traders who choose these types of Forex brokers suffer and lose their funds to scammers.
See also: How to Avoid a Forex Trading Scam
So, it is advisable that you avoid unauthorized Forex brokers.
In this article, we will give you background information on CySEC’s history and show you why you should trade with our top 5 CySEC regulated Forex regulated brokers.
What is CySEC?
The Cyprus Securities Exchange Commission (CySEC), is the regulatory body for the financial industry. Its mission is to provide effective supervision to ensure trader protection. It is an independent regulatory authority that controls investment services and transactions in transferable securities carried out in Cyprus.
CySEC was established in 2001 as a public legal entity, and then in 2004, Cyprus became a European Union member state. From that time, CySEC regulations and operations have had to meet the European financial regulatory framework’s terms.
What does all of that mean? CySEC operates under the branch of European regulators advocating for secure trading, and therefore, connects with European regulations such as the Markets in Financial Instruments Directive (MiFID) and The Markets in Financial Instruments Regulation (MiFIR).
MiFID and MiFIR are required for firms operating in the European Union. These European regulations are responsible for the transparency across the European Union financial markets.
It’s essential to have a strong regulatory body such as CySEC to prevent money laundering and wrongdoing in the market.
The CySEC license is one of the most significant. People can rely on Forex brokers regulated by CySEC because it guarantees protection and safety for investors and traders. The regulator monitors brokerage companies’ actions and transactions to ensure that they comply with the directives of the legal and regulatory framework.
Now we know more about the Cypriot watchdog, its functions and benefits. Who, then, are the top 5 CySEC Forex brokers?
Top 5 CySEC Forex brokers
The brokerage firms below represent the best CySEC regulated Forex brokers in 2021. They are:
XM is a world leader in online forex trading and CFDs with over 1600 instruments to trade including currency pairs, precious metals, equity indices, energies, and cryptocurrencies. XM offers Micro and Standard account types with flexible leverage ranging from 1:1 to 888:1. Spreads start as low as 0 pips on the MetaTrader 4 and MetaTrader 5 platforms with no hidden commissions or fees. XM Group is regulated by some of the world's most reputable financial authorities such as the UK's Financial Conduct Authority (FCA), Cyprus' Securities and Exchange Commission (CySEC), Australia's Securities and Investment Commission (ASIC), and the International Financial Services Commission of Belize (IFSC). Client funds are segregated from
- Wide range of trading instruments.
- Spreads are highly competitive.
- Extensively regulated by multiple regulators.
- XM has Low stock CFD fees and withdrawal fees.
- Account opening processing is easy and fast.
- They have very responsive customer support
- They have low minimum deposit.
- XM has limited product portfolio
- Average forex and stock index CFD fees
OctaFX is under the brand name of Octa Markets Incorporated and has been operating since 2011. The broker offers a trading experience to more than two million trading accounts. OctaFX caters to a wide variety of retail traders in over 100 different countries by providing them with the opportunity to trade currency pairs, cryptocurrencies, precious metals, market indices, stocks, and commodities.
OctaFX has won multiple international awards since it was established. A multilingual customer support team is always prompt and to the point and the payments are processed by the most popular systems without delays. Also, the company is well-known for its social and charity activity.
- Wide range of trading accounts (Micro, ECN, Pro, Sharia) for beginners and advanced traders
- Can access Forex ECN with 1:500 leverage
- Trade on MT4, MT5, and cTrader across Desktop, Web, and Mobile
- Access copy trading, bonus promotions, and a wide range of research tools
- Limited commodity markets, no individual Stock CFDs
- Limited deposit and withdrawal options – only through Neteller, Skrill or Bitcoin
IronFX is an award-winning forex broker with ten different trading platforms and more than 200 trading instruments in forex, spot metals, futures, shares, spot indices, and commodities.
IronFX clients can benefit from round-the-clock coverage delivered by one of the world's largest and most accomplished global client coverage teams. The IronFX customer-centric model offers top trading functionalities through its platforms combined with the broadest suite of products at the best pricing and execution. Daily market news feed and insightful research give clients access to the best information and data to make informed trading decisions.
- FCA, ASIC, FSCA, and CySEC regulated Brokers.
- Lots of trading instruments including forex, metals, indices, and shares.
- World-class MT4 trading platform
- Built-in VPS hosting opportunity.
- Variety in trading account types to cover traders' needs.
- Do not have MT5 and cTrader.
SquaredFinancial as a Global Investment Gateway provides a full range of financial products and services as a true STP Forex broker. The company's customer support and Forex educational academy will help you manage, grow, or diversify your investments.
SquaredFinancial CySEC license enables the broker to operate throughout the EU. Traders can access a wide range of financial instruments to create their investment portfolio, including Energies, Forex, Metals, Indices, and Cryptocurrencies.
- MT4 trading platform with AutoTrade feature supported by MyFxBook;
- Very good execution, suitable for EA trading;
- SquaredAcademy with free access to video tutorials, research articles, and more
- Market analysis tools: Live market news, daily market outlook, commentary, and financial events
- Personal account managers available
- Do not accept clients from the US;
- No MT5 platform yet;
- Limited number of support languages;
- No crypto trading.
easyMarkets has been a leader in online trading for years, with over 200 thousand satisfied customers. They offer forex and commodity contracts as well shares from around the world - all through one convenient provider!
A regulated broker that's also licensed by governments across multiple countries means you're protected not only legally but financially too.
The company is licensed and regulated by a number of financial authorities, including the Cyprus Securities & Exchange Commission (CySEC) , Financial Conduct Authority(FCA), UK's top regulating body for banks operating in England . Offering various account types like demo or real trading accounts plus powerful platforms such as MetaTrader 4 where traders can be fully immersed into their trades.
- It is a fully licensed and regulated broker
- They offer competitive spreads and no commissions
- Various products available, including forex, commodities, indices and stocks
- 24/5 customer support in over 20 languages
- They have a wide range of educational materials available, including videos, webinars and e-books
- Multiple account types, including micro, mini and standard accounts
- An wide range of leverage levels, from 1:1 up to 1:500
- Various deposit and withdrawal methods, including credit/debit cards, bank transfers and e-wallets.
- High spreads
- No hedging
- No social trading account
Now that we understand that the CySEC is an important global regulatory agency that gives out licenses and protects the Forex traders, you can go ahead and select one of these recommended top 5 CySEC regulated brokers and start trading safely because they protect your interests on the highest level.
However, should a dispute arise between you and your broker, you can always file complaints against that CySEC regulated Forex broker.
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