Top 5 CySEC Forex Brokers in 2020


CySEC is an independent regulatory organization located in Cyprus. It has the major task of regulating the financial market on the Mediterranean island of Cyprus. CySEC Forex brokers are comprehensive in the business, as there are countless brokers regulated by the CySEC that grant a wide scope of trading items and brokerage services for traders in the EU, and over the globe.

31 July 2020 | AtoZ Markets – CySEC represents Cyprus Securities and Exchange Commission, which is a regulatory agency situated in the Republic of Cyprus. CySEC is the preferred option among a wide extent of brokers since Cyprus has permissive tax laws. Besides, simple and basic business set up methodology and contrasted with numerous other easy rules and guidelines for making a financial organization.

Hence, forex brokers think that its simple to set up their brokerage in Cyprus to catch the larger part of forex traders in the Europen Union, which is one of the essential reasons why Forex brokers prefer CySEC over some other regulatory agency on the globe.

What Is the Cyprus Securities and Exchange Commission?

The Cyprus Securities Exchange Commission has regularly known as CySEC. However, it has the regulator for the monetary industry in Cyprus. As a body state of the EU, it is required to keep the regulatory system as set up under the Markets in Financial Instruments Directive. Moreover, MiFID was approved by the European Parliament in 2008 so as to fit the guidelines leading the financial services industry inside the EU. It set up the principles for financial services providers to follow. It is fundamentally focused on OTC exchanges, for example, the forex industry.

In addition, whereas Cyprus became a member of the EU in 2004, this implied CySEC fell under the MiFID regulations. This grant firms managed under CySEC access to the monetary markets inside the Europen Union. Therefore, Cyprus was recently referred to globally as a tax haven because of the MiFID. However, the monetary regulatory system in Cyprus from that point changed significantly to a lot better quality compared to other major financial bases around the world. In fact, CySEC turned into the major regulatory body in Europe with acknowledging and control binary options as a monetary tool.

Top 5 CySEC Forex Brokers List

The top 5 CySEC Forex Brokers in this list are the best forex brokers located in Cyprus. They provide excellent support to their clients and allows traders to trade with high leverages. Top five CFTC Forex Brokers are:

  1. BDSwiss 
  2. IC Markets
  3. FP Markets
  4. FXTM
  5. Plus500

1. BDSwiss

BDSwiss is the first to highlight as one of the top CySEC forex brokers. It established in 2012 and offers trading accounts managed under the Mauritius Financial Services Commission and the Cyprus Securities and Exchange Commission. Therefore, clients can exchange more than 250+ financial CFD assets including Forex, Commodities, Cryptocurrencies, Indices and Equities. However, they offer three account types called Classic, VIP, and Raw on the MetaTrader 4 and MetaTrader 5 trading platforms. Besides, the broker also has the BDSwiss Web Trader and BDSwiss Mobile App.

CySEC forex brokers

2. IC Markets

IC Markets is one of the best CySEC forex brokers. It established in Sydney, Australia in 2007 and authorized by the Australian Securities and Investments Commission (ASIC), also the Seychelles Financial Services Authority (FSA). As showed in the broker’s website, they have handled $646 billion worth of trading volume in April 2019 alone.

However, the broker grant services and features intended for both novice and expert traders. Besides, the organization highlights themselves as the ‘go-to’ option for traders who trade high volumes, scalpers and trading algorithms because of their New York Equinix NY4 data farm – preparing more than 500,000 trades for each day.

CySEC forex brokers - AtoZ Markets

3. FP Markets

FP Markets is one of the CySEC forex brokers. It established in 2005 and managed by the Australian Securities and Investments Commission (ASIC). It offers dissociation of customer capital and top-level liquidity. FP Markets is a group of organizations that incorporates First Prudential Markets Ltd which is approved and regulated by the Cyprus Securities and Exchange Commission.

Traders can utilize the worldwide known MetaTrader 4 and MetaTrader 5 trading platforms for pc, web, and mobile, just as, the Iress active trader trading platform. Moreover, traders can likewise get to a wide variety of trading instruments that incorporate MAM/PAMM accounts, VPS services, calculators for Forex trading. Also, MT4 Trader Toolbox loaded with extra indicators and access to AutoChartist.

CySEC forex brokers - AtoZ Markets

4. FXTM

FXTM is the another CySEC forex brokers, and it stands for ForexTime. It’s a platform with an essential spotlight on foreign trade. However, that specialization permits it to transcend above others, whereas it comes to Forex centered trading platforms and instruments. CFDs are accessible on 50+ forex pairs, including major, minor, and exotic pairs. leverage is accessible up to 1000:1. Furthermore, FXTM situated in Cyprus and authorized by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and different regulators all through the EU. A free demo account is accessible.

CySEC forex brokers - AtoZ Markets

5. Plus500

Plus500 is the most reliable CySEC forex brokers. This broker has been in the brokerage business for more than a decade. Therefore, they have 317,000 customers from everywhere throughout the world. Besides, they appropriately regulated in four unique countries, including Australia, the UK and Cyprus.

In addition, the trading platforms very user-friendly, quick and secure. Platforms that can be utilized over different gadgets and operating systems are accessible for trading in different circumstances. No instructive materials are accessible, which is a minus point. Moreover, no research materials or specialized analysis has given.

CySEC forex brokers - AtoZ Markets

CySEC’s Roles

The main roles of CySEC are as per the following:

  • Overseeing and monitoring of the Cyprus Stock Market.
  • CySEC’s roles are to monitor the exchanges carried on the Cyprus Stock Market.
  • Monitor organizations and monetary service providers.
  • CySEC’s roles are to provide a license to the Brokers, investment firms, and consultants.
  • Monitor the investment funds and related services, and investments services organizations.
  • CySEC’s roles are to give punishments or authoritative sanctions for non-compliance with regulatory necessities.

Summary

Above written brokers are the top 5 CySEC forex brokers from Cyprus. They have a good reputation in the financial market, with the fastest trade execution, quickest deposit/withdrawal facilities with the lowest transaction fee. Besides, they have the lowest spread, lowest commission, and many other unique facilities from other brokers. However, if you want to trade with the CySEC forex brokers, we recommended you first open a demo trading account and test the broker before making any investment.

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