Top 5 CySEC Forex Brokers in 2021


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 in 2021 right here.

December 15, 2020 | AtoZ Markets –  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 five CySEC regulated Forex brokers in 2021.

Why you should choose regulated Forex brokers in 2021?

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 in 2021?

Top 5 CySEC Forex brokers in 2021

The brokerage firms below represent the best CySEC regulated Forex brokers in 2021. They are:

  1. HotForex
  2. OctaFX
  3. IronFX
  4. SquaredFinancial
  5. LegacyFX

1# HotForex

HotForex, or HF Markets is a Forex and commodities broker that provides trading services to both retail and institutional clients. The main policy of this broker is to provide the best trading conditions to its clients by allowing all types of traders to have unrestricted access to its liquidity.

Moreover, HotForex offers over 100 tradable assets, including currency pairs, cryptocurrencies, shares, and indices.

As an international broker, HotForex has more than 2,000,000 accounts globally and has also won more than 35 international awards. With more than 200 employees working globally, traders can contact HotForex in over 27 different languages wherever they live.

HotForex advantages 

  • Wide range of trading instruments.
  • Spreads are highly competitive.
  • Extensively regulated by multiple regulators.
  • Extensive trading tools, including daily analysis, auto-trading, and VPS services.
  • Best broker for traders who want to diversify their portfolio.

HotForex disadvantages

  • No Bonus programs for EU clients
  • Only 7 Cryptocurrency Pairs and No ETFs

Open a HotForex Live Account

2# OctaFX

octafx review

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.

OctaFX advantages

  • 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

OctaFX disadvantages

  • Limited commodity markets, no individual Stock CFDs
  • Limited deposit and withdrawal options – only through Neteller, Skrill or Bitcoin

Open a OctaFX Live Account

3# IronFX

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.

IronFX advantages

  • 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.

IronFX disadvantages

  • Do not have MT5 and cTrader.

Open a IronFX Live Account

4# SquaredFinancial

Exclusive Interview SquaredFinancial CEO Husam Al Kurdi Talks Future Plans

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.

SquaredFinancial advantages

  • 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

SquaredFinancial disadvantages

  • Do not accept clients from the US;
  • No MT5 platform yet;
  • Limited number of support languages;
  • No crypto trading.

Open a SquaredFinancial Live Account

5# LegacyFX

LegacyFX is a CySEC regulated broker offering forex and CFD trading, as well as free trading signals.

Established in 2017, LegacyFX is owned by its EU entity, A.N. Allnew Investments Ltd, which is authorized by several European regulators, including the UK FCA, and German regulator BaFIN.

Moreover, the broker offers over 200 financial instruments including FX, commodities, cryptos, stocks, and indices. New and experienced traders also benefit from a selection of free trading tools and educational resources.

LegacyFX disadvantages

  • No swap fees and commission-free trading
  • Wide range of assets available
  • Free signals and analytics
  • Regulated
  • VIP card

LegacyFX disadvantages

  • Only MT5 available

Open a LegacyFX Live Account

Conclusion

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 in 2021 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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