FX-Australia has been Australia’s most trusted Forex broker review site since 2017. Our team has written 100+ broker reviews and we constantly test to maintain accuracy. This is how we review brokers.

We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website you agree to our Terms of Service.

AuthorBy Jeffrey Cammack
Updated: May 5, 2022

The Cyprus Securities and Exchange Commission (CySEC) is the financial regulator of the Mediterranean island of Cyprus. Central to CySEC’s regulatory policies are segregated bank accounts for client funds, insurance coverage against broker negligence, a compensation scheme of up to €20,000 per account, and a strict capital adequacy ratio requirement to prevent brokers from defaulting because of client’s trades. 

To test these brokers, we verified our live account and reviewed their CySEC regulatory status and complaints history. Beyond confirming the platform choice, minimum deposit, and trading desk type, our test focused on trading conditions, the overall trading cost for clients, withdrawal fees and other fee structures, so traders understand all costs associated with using any specific broker. These are the best CySEC regulated brokers for 2022 according to our testing and our research.

Best CySEC Regulated Brokers 2022

Scroll for more detailsPreviousNext
Broker
Overall Rating
Official Site
CySEC License
Min. Deposit
Max. Leverage
Beginner Friendly
EUR/USD - Standard Spread
Cost of Trading
EUR/USD - Raw Spread
Total CFDs
Currency Pairs
Platforms
Compare
FP Markets
4.28 /5
Read Review
Visit Broker >
Your capital is at risk
371/18AUD 10030:1Excellent0.10 pipsUSD 70.10 pips1009960MT4, MT5, IRESS
Pepperstone
4.61 /5
Read Review
Visit Broker >
Your capital is at risk
388/20AUD 10030:1Excellent0.60 pipsUSD 60.17 pips070MT4, MT5, cTrader
Markets.com
4.64 /5
Read Review
Visit Broker >
Your capital is at risk
092/08AUD 10030:1Excellent0.70 pipsUSD 70.60 pips220667MT4, MT5
FXCM
4.24 /5
Read Review
Visit Broker >
Your capital is at risk
392/20AUD 5030:1Standard1.30 pipsUSD 130.20 pips30645MT4, NinjaTrader, TradeStation
easyMarkets
3.98 /5
Read Review
Visit Broker >
Your capital is at risk
079/07AUD 20030:1Standard1.80 pipsUSD 180.70 pips216103MT4
Capital.com
4.68 /5
Read Review
Visit Broker >
Your capital is at risk
319/17AUD 2030:1Excellent0.60 pipsUSD 60.60 pips4284137MT4, Capital.com
Tickmill
4.48 /5
Read Review
Visit Broker >
Your capital is at risk
278/15USD 10030:1Excellent0.00 pipsUSD 40.10 pips20762MT4, MT5

How to compare CySEC regulated brokers

CySEC is a tier 2 financial regulatory agency from Europe. They are a modern and well-funded organization and often the first to make regulatory changes needed to protect would-be traders and maintain fairness in the CFD industry. Generally speaking, CySEC-regulated brokers can be considered safe. Still, some few CySEC-regulated brokers have a history of controversy, and the regulator has only taken limited action on behalf of clients and partners. But it is essential to look at the detail of each broker to find out what differentiates them from each other. When comparing CySEC regulated brokers consider:

Regulation: While your broker is CySEC regulated, your trading account may not be. It is increasingly common for CySEC regulated brokers to onboard clients onto a different license where trading conditions, like leverage, can be increased without the CySEC oversight. While this is not fundamentally bad, the trader should know their trading account is regulated and that CySEC will not enforce their regulations in overseas territories. If you value the regulatory oversight of CySEC, don’t trade that for adjusted trading conditions.

Platform choice: Traders have a wide range of industry platforms to choose from, each with pros and cons. When comparing brokers, always consider the platform options, as unique features or a wide variety of platforms could change your trading experience. 

Trading costs: Every broker will charge for their services, but each will have different pricing models and costs. While ECN brokers will charge a smaller spread combined with a commission based on volume, market maker brokers will charge a wider spread. We compare brokers by looking at what 1 lot of EURUSD costs to trade and would encourage traders to do the same in comparing costs. 

MetaTrader 4 is still the industry standard, but many brokers offer MetaTrader 5 and their proprietary platforms. ECN/STP brokers will often support cTrader as it is built specifically for market execution and only allows for minimal broker interference.

Minimum Deposit: The minimum deposit could change by account type, with higher minimum deposits often linked to better conditions. Always consider the minimum deposit specific to the account type you may open. 

Deposit and Withdrawal Methods: Most brokers accept credit cards and bank transfer payment, and many accept online payments through Skrill and Neteller, and some will also accept Bitcoin. Always check the withdrawal fees before making a deposit. 


FP Markets – Best MetaTrader Execution

FP Markets is a leading CySEC-regulated CFD broker offering trading on both the MT4, MT5, and IRESS trading platforms.  In addition to providing super-fast execution speeds over a dedicated fibre-optic line, it offers versions of the platforms for alternate operating systems, including Mac OS and WebTrader.  Traders also have access to institutional-grade liquidity from multiple execution venues, with no price manipulation, no dealing desk intervention, and no requotes or rejections.

Trading conditions at FP Markets are generally excellent, with tighter than average spreads on two live accounts.  The commission-free Standard Account offers spreads starting at 1.0 pips on the EUR/USD and spreads as tight as 0 pips (EUR/USD) on its Raw Account in exchange for a commission of 6 USD (round turn) per lot. 

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.

Pepperstone – Best ECN CFD Broker

Pepperstone is a leading CySEC regulated ECN/STP broker offering trading on over 180 assets, including Forex, indices, shares, commodities, cryptocurrencies, and currency indices.  Pepperstone offers full support for the MT4, MT5, and cTrader platforms which provides high-speed execution and low latency trading.

Pepperstone’s trading conditions are among the most competitive in the industry.  /with two live accounts on offer, a Standard commission-free account with spreads averaging at 1.09 pips on the EUR/USD, and a Razor Account with spreads that average at 0.09 pips in exchange for a reasonable commission of 7 USD (round turn) per trade.  Pepperstone also provides award-winning customer service, available 24/7, and an excellent educational repository, making it a good choice for beginner traders. 

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited market analysis
AlertAccepts Australian Clients. Average spread EUR/USD 0.60 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA.

Markets.com – Most Tradable Instruments

Founded in 2010, Markets.com is a part of the Playtech Group, a global technology leader that is traded on the London Stock Exchange, and a constituent of the FTSE 250 index.  Regulated by CySEC, Markets.com, trading is offered on over 2,200 instruments, including 67 major, minor, and exotic FX pairs, stocks, over 41 major market indices, 27 commodities, six cryptocurrencies, 60 ETFs, and 4 government bonds.   Traders will also have access to 23 of Markets.com’s exclusive blends, which are stock baskets that give traders exposure to industry-leading companies, investors, and geopolitical events. 

Trading is offered on MT4, MT5, and the innovative Marketsx app, which is packed full of features and trading tools and is optimised for lightning-fast execution. It also has built-in advanced charting including trendlines, channels, pitchforks, Fibonacci Retracements, and more.   Lastly, Markets.com provides a wealth of support including sentiment tools, tutorials, and regular expert-led webinars. 

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
AlertAccepts Australian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, and Markets.com platforms supported. Markets.com is regulated by the FSCA, FCA, CySEC, ASIC, and the BVI FSC.

FXCM – Best Proprietary Platform

A CySEC-regulated broker, FXCM offers support for a wide range of platforms, including MT4 and Ninja Trader in addition to its award-winning proprietary platform, Trading Station.  The features of Trading Station are similar to MT4, including Expert Advisor integration, custom indicators, strategy optimisation, strategy backtesting, and advanced charting, but it requires less setup and is easier to use. 

FXCM offers commission-free trading and a simple account structure for retail traders.  The minimum deposit for a live account is 50 USD, and leverage is up to 30:1.  Spreads average at 1.3 pips on the EUR/USD, which is wider than other market maker brokers, but it allows all trading strategies, including hedging, scalping, and copy-trading. 

Pros
  • Well regulated
  • Great platform choice
  • Excellent education
  • Innovative trading tools
Cons
  • Limited demo account
AlertAccepts Australian Clients. Average spread EUR/USD 1.30 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & Ninja Trader platforms supported. FXCM is regulated by FCA, ASIC, and the FSCA.

easyMarkets – Best Risk Management Tools

A CySEC-regulated market maker broker with no dealing desk intervention, easyMarkets is one of the most innovative brokers in the industry.  easyMarkets was the first broker to introduce negative balance protection and guaranteed stop-loss. 

The easyMarkets trading platform provides unique, innovative, and advanced trading features that help traders reduce their losses. These features include easyTrade, which allows traders to set the maximum amount they are comfortable risking, dealCancellation, which allows traders to cancel unfavourable trades within one, three, or six hours after a trade is executed, and Freeze Rate, a unique tool allowing traders to freeze the prices they see. 

Pros
  • Well regulated
  • Wide range of assets
  • Innovative trading tools
Cons
  • Limited platform choice
  • Limited account options
AlertAccepts Australian Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & the proprietary easyMarkets platform are supported. easyMarkets is regulated by CySEC, ASIC, and the FSA in Seychelles.

Broker Regulation and Why it’s Important

There are few genuinely strong regulators in the world; the UK’s Financial Conduct Authority is one, the Australian Securities and Investments Commission is another, and most would agree that CySEC is also a member of this group. After a shaky start as a regular, in recent years CySEC has built a reputation for guaranteeing trader security and dealing harshly with bad brokers, especially since the tightening of ESMA restrictions across the EU. We will talk about those restrictions in more detail below, but first, let’s look at the current benefits of trading with a CySEC-regulated broker.

  • Segregated Funds: All trader funds are kept in a segregated trust account which the broker cannot access. This prevents the broker from using trader funds for operational purposes. It also ensures that in the case of broker bankruptcy, trader funds can be refunded.
  • Capital Adequacy: CySEC requires all regulated brokers to hold enough capital to meet the capital adequacy ratio requirement. This decreases the likelihood of broker failure in the event of significant losses.
  • Reports and Auditing: Because brokers are required to submit regular financial compliance reports to CySEC, it is very difficult for brokers to hide any wrongdoing. Similarly, because these brokers are also subject to independent audits and visits from CySEC investigators, any wrongdoing will be exposed.
  • Compensation Fund: All CySEC-regulated brokers are required to join the Investor Compensation Fund Scheme. Under this scheme, traders are liable for compensation up to 20,000 EUR in the case of broker bankruptcy.
  • Insurance Coverage: CySEC demands that all licenced brokers maintain insurance coverage of at least 1.5 million EUR for losses resulting from negligence.
  • Transparency: CySEC expects to have a complete overview of all products that a broker is planning to offer, and that these products are the same as the products provided to clients.

These protections are enshrined in regulatory law and brokers who are found to be in contravention are penalised and can even have their operating licence removed altogether.

A useful resource for traders, CySEC hosts an up-to-date list of brokers that are legally allowed to operate in their jurisdiction, if you are concerned that a broker may be operating illegally, check CySEC’s regulated entities list.

CySEC also publishes warnings on unregulated brokers operating illegally; many illegal brokers will often disguise themselves as regulated brokers, so it is crucial to check here if you are concerned.

All CySEC Brokers

This is our list of all CySEC regulated brokers we have reviewed. They are ordered by their overall rating, placing the best overall broker at the top of the list. 

Scroll for more detailsPreviousNext
Overall Rating
CySEC Licence
Regulators
Beginner Friendly
Platforms
Min. Deposit
Cost of Trading
Fees
No. of FX Pairs
Compare
Official Site
4.68 /5
Read Review
319/17FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersExcellentMT4, Capital.comAUD 20USD 6Fees Included in Spread137 Visit Broker >
Your capital is at risk
4.64 /5
Read Review
092/08FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionExcellentMT4, MT5AUD 100USD 7Fees Included in Spread67 Visit Broker >
Your capital is at risk
4.61 /5
Read Review
388/20FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityExcellentMT4, MT5, cTraderAUD 100USD 6From 7 USD / lot - Razor Account70 Visit Broker >
Your capital is at risk
4.48 /5
Read Review
278/15CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityExcellentMT4, MT5USD 100USD 44 USD / lot62 Visit Broker >
Your capital is at risk
4.48 /5
Read Review
347/17ASIC Regulated Forex BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCySEC Regulated BrokersCentral Bank of IrelandExcellentMT4, MT5, Avatrade Social, AvaOptionsAUD 100USD 9Fees Included in Spread55 Visit Broker >
Your capital is at risk
4.46 /5
Read Review
362/18CySEC Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthorityExcellentMT4, MT5, cTraderAUD 200USD 87 USD / lot - Raw Spread Account64 Visit Broker >
Your capital is at risk
4.34 /5
Read Review
201/13ASIC Regulated Forex BrokersCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityExcellentMT4, MT5, MT SupremeAUD 100USD 81.8 - 3 USD per lot50 Visit Broker >
Your capital is at risk
4.33 /5
Read Review
185/12CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityFinancial Services CommissionExcellentMT4, MT5AUD 10USD 15From 4 USD / ECN Accounts62 Visit Broker >
Your capital is at risk
4.32 /5
Read Review
199/13CySEC Regulated BrokersFinancial Services CommissionThe Seychelles Financial Services AuthorityExcellentMT4, MT5USD 100USD 155 USD / lot - RAW account50 Visit Broker >
Your capital is at risk
4.29 /5
Read Review
078/07FCA Regulated BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthoritySecurities Commission of the BahamasExcellentMT4, MT5, cTrader, FxProEdgeAUD 100USD 149 USD / lot70 Visit Broker >
Your capital is at risk
4.28 /5
Read Review
371/18ASIC Regulated Forex BrokersCySEC Regulated BrokersExcellentMT4, MT5, IRESSAUD 100USD 76 USD / lot - RAW Accounts60 Visit Broker >
Your capital is at risk
4.27 /5
Read Review
372/18CySEC Regulated BrokersFinansinspektionenFinancial Services Authority – St. Vincent & the GrenadinesExcellentMT4, MT5USD 25USD 6Fees Included in Spread40 Visit Broker >
Your capital is at risk
4.25 /5
Read Review
120/10CySEC Regulated BrokersASIC Regulated Forex BrokersFCA Regulated BrokersInternational Financial Services CommissionExcellentMT4, MT5AUD 5USD 167 USD / lot - XM Zero Account57 Visit Broker >
Your capital is at risk
4.24 /5
Read Review
392/20FCA Regulated BrokersASIC Regulated Forex BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersBermuda Monetary AuthorityStandardMT4, NinjaTrader, TradeStationAUD 50USD 13None45 Visit Broker >
Your capital is at risk
4.18 /5
Read Review
629628FCA Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthorityCySEC Regulated BrokersExcellentMT4, MT5, ThinkTraderAUD 0USD 127 USD / lot - ThinkZero Account46 Visit Broker >
Your capital is at risk
4.14 /5
Read Review
138/11CySEC Regulated BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtThe Seychelles Financial Services AuthorityStandardcTraderUSD 1USD 7.80None80 Visit Broker >
Your capital is at risk
4.11 /5
Read Review
261/14CySEC Regulated BrokersVanuatuStandardMT4, MT5, cTraderUSD 15USD 158 - 10 USD / lot - PRO Account43 Visit Broker >
Your capital is at risk
4.10 /5
Read Review
322/17ASIC Regulated Forex BrokersCySEC Regulated BrokersFinancial Services AgencyFinancial Services CommissionStandardMT4, MT5AUD 200USD 106 USD / lot - GoPlus+49 Visit Broker >
Your capital is at risk
4.08 /5
Read Review
259/14CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtStandardMT4, MT5USD 100USD 128 USD / lot - Raw Account70 Visit Broker >
Your capital is at risk
4.07 /5
Read Review
096/08FCA Regulated BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersStandardMT4, ETXAUD 100USD 6Fees Included in Spread62 Visit Broker >
Your capital is at risk
3.98 /5
Read Review
079/07CySEC Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthorityStandardMT4AUD 200USD 18Fees Included in Spread103 Visit Broker >
Your capital is at risk
3.87 /5
Read Review
093/08CySEC Regulated BrokersFinancial Services Authority – St. Vincent & the GrenadinesExcellentMT4, MT5USD 50USD 1910 USD / lot - ECN Account56 Visit Broker >
Your capital is at risk
3.84 /5
Read Review
121/10CySEC Regulated BrokersStandardMT4USD 0USD 6None71 Visit Broker >
Your capital is at risk
3.83 /5
Read Review
155/11CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityFinansinspektionenLabuan Financial Services AuthorityCapital Markets AuthorityStandardMT4, MT5USD 50USD 143 USD / lot66 Visit Broker >
Your capital is at risk
3.83 /5
Read Review
383/20CySEC Regulated BrokersThe Seychelles Financial Services AuthorityStandardMT4, MT5USD 50USD 15Fees Included in Spread50 Visit Broker >
Your capital is at risk
3.70 /5
Read Review
202/13CySEC Regulated BrokersASIC Regulated Forex BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtStandardMT5, SirixAUD 500USD 40Fees Included in Spread48 Visit Broker >
Your capital is at risk
3.69 /5
Read Review
109/10CySEC Regulated BrokersFCA Regulated BrokersASIC Regulated Forex BrokersStandardetoroAUD 50USD 10Fees Included in Spread60 Visit Broker >
67% of retail CFD accounts lose money
3.64 /5
Read Review
268/15CySEC Regulated BrokersFinancial Services CommissionStandardMT4USD 250USD 24Fees Included in Spread63 Visit Broker >
Your capital is at risk
3.60 /5
Read Review
127/10CySEC Regulated BrokersStandardMT5USD 100USD 2050 Visit Broker >
Your capital is at risk
3.54 /5
Read Review
25/10CySEC Regulated BrokersFCA Regulated BrokersASIC Regulated Forex BrokersFinancial Services Conduct AuthorityStandardMT4USD 50USD 22On select STP/ECN Accounts83 Visit Broker >
Your capital is at risk
3.53 /5
Read Review
209/13CySEC Regulated BrokersVanuatuStandardMT4USD 10USD 200,007% / Trade - Zero Account33 Visit Broker >
Your capital is at risk
3.49 /5
Read Review
344/17CySEC Regulated BrokersVanuatuStandardMT5USD 500USD 16Fees Included in Spread41 Visit Broker >
Your capital is at risk
3.42 /5
Read Review
227/14CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityStandardMT4, MT5, SirixUSD 100USD 19Fees Included in Spread55 Visit Broker >
Your capital is at risk

Broker Regulation and Why it’s Important

Regulators are essential in all financial markets because they set the rules that guarantee a level playing field. They also enforce those rules by requiring members to submit regular reports and have independent audits. Most good regulators will also have an investigations department and will conduct unannounced visits to regulated companies to ensure day-to-day operations are compliant. Regulators also have the power to impose penalties on members, including fines, sanctions, and even revoking a company’s operating licence, thereby putting them out of business.

What is interesting about the Forex market is that there is no legal requirement for brokers to be regulated. CFD Forex trading is an Over the Counter (OTC) derivatives market – this means that there is no central exchange and no overall regulator with oversight for the market.

Having a wholly unregulated market is a bad idea and leads to massive consumer fraud, as happens on a smaller scale in regions with poorly regulated local Forex industries. Instead of having a single regulator, countries and regions regulate the brokers who reside in their territory. As each regulator has different abilities and priorities, Forex regulation is not uniform, and brokers must abide by different rules depending on which country/countries they are legally resident.

What is CySEC?

CySEC is the financial regulatory agency of Cyprus. It was founded in 2001 and when Cyprus joined the EU in 2004 CySEC became part of the pan-European MiFID (Markets in Financial Instruments Directive). MiFID is an EU law the harmonises regulation for financial services across the member states, allowing for financial firms registered in one state to essentially have a “passport” to operate in all the other EU states.

In terms of the Forex industry, this means that any Forex broker registered in Cyprus can market to, and accept business from, all EU citizens.

As the Cyprus financial regulator, CySEC has many crucial obligations in the financial sector – most of them outside the Forex industry – these are:

  • To review applications for and provide operating licenses to supervised financial companies – and revoke these if necessary.
  • To supervise and regulate the operation of and all transactions on the Cyprus Stock Exchange
  • To carry out all necessary investigations in view of the exercise of its duties under the law as well as on behalf of other foreign competent Authorities.
  • To impose administrative and disciplinary sanctions provided by the law.
  • To issue regulatory Directives and Decisions.
  • To cooperate and exchange data and information with foreign supervisory authorities.

CySEC and ESMA: Restrictions on Trading Conditions

In March 2018, the European Securities Markets Authority (ESMA – an EU taskforce which examines EU-wide financial risk) announced new regulations on all CFD trading in the EU; these regulations were a directive at the supranational level – meaning that all EU members were required to abide by the regulations and enshrine them in domestic law.

Cyprus, as an EU member state, must also abide by this new set of regulations and all CySEC-regulated brokers will have the following restrictions as a result:

  • Leverage Restriction: Maximum leverage of 30:1 on major currency pairs, 20:1 on all other pairs, 5:1 on equities, 2:1 on cryptocurrencies
  • Negative Balance Protection: All brokers must guarantee negative balance protection for all traders
  • No Bonus: All bonuses, promotions or any other type of trading incentive are banned
  • Margin Call: Brokers will be required to close a client’s open positions when the account equity reaches 50% of the required minimum margin by all open positions.
  • Risk Warning: All brokers will be required to display a standard risk warning showing what percentage of clients lose money with them.

While many traders and brokers were unhappy with the restriction on leverage, many people in the Forex industry agree that the new ESMA regulations protect traders from making huge losses without critically damaging broker profits.

CySEC vs FCA

The Financial Conduct Authority is the United Kingdom’s financial regulator and is generally upheld as the best and strictest national regulatory authority in the world. Most good brokers will be regulated either by CySEC, the FCA or sometimes both.

On paper, there is little difference between CySEC or FCA regulation – though the licencing fee for CySEC brokers is only 7,000 EUR, compared to 25,000 GBP for the FCA. Aside from that, both regulators require segregated accounts, membership of a compensation fund and have high capital adequacy standards. All brokers regulated by both authorities will have the same leverage restrictions and other constraints required by the ESMA regulation – though whether this continues to remain the case once the United Kingdom leaves the EU remains to be seen.

The differences between the two regulators are mainly anecdotal, while the FCA is seen as unimpeachable when it comes to protecting consumers and being tough on brokers, many traders complain that CySEC is too broker-friendly and that it gives away operating licences too easily. CySEC also has a history of being easy on badly behaved brokers, with industry commentators noting that fines being levied by CySEC tended to be smaller than those handed out by other EU regulatory organisations.

But since 2016, CySEC has made sweeping changes to both the registration and regulation processes of all registered entities. Changes include more transparency regarding existing listed entities, harsher fines and regular unannounced onsite visits from CySEC investigators to check compliance. This has led to a surge in broker suspensions and license revoking, and CySEC is gradually losing its image as a light-touch regulator.

Conclusion

As the regulator with the most EU registered brokers, CySEC has a critical role in the Forex industry, and millions of traders rely on their ability to ensure a fair trading environment.

While in the past, this ability has been questioned, currently CySEC is seen as a leader in the Forex regulatory world and brokers with CySEC regulation should be considered safe and secure places for trading.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Close
>