Forex Brokers with CySEC regulation are able to offer their services to forex traders throughout Europe. This guide the best CySEC brokers based on features such as trading platforms, spreads and social trading.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
The Forex Brokers With CySEC regulation for European traders are:
CySEC stands for Cyprus Securities and Exchange Commission and is the financial regulatory agency or body of Cyprus. As Cyprus is part of the European Union (EU), CySEC must comply with the regulatory standards set as part of the Markets in Financial Instruments Directive (MiFID). MiFID are laws set by the European Securities and Markets Authority (ESMA) to standardise investment services across the European Union member states. These laws ensure brokers that offer investment services are transparent with their practices and therefore protect the investment made by their clients.
As a trader, choosing a broker with CySEC regulation means two things to you:
In short, if you are in the European Union, then a broker with CySEC regulation is legally able to offer their financial services to you and you can be sure the broker is safe to trade with and can be trusted.
This page looks at the best CysEC regulated forex brokers
Markets.com is our top-rated broker with CySEC regulation. We rate Markets.com highly because the broker has the following strengths:
Markets.com has just one account type which is a standard account. This type of account means you do not need to pay commission as your cost is already factored into the spread.
All clients of Markets.com get access to the Marketsx trading platform by default, the only decision you need to make is if you wish to use a different trading platform in addition to Marketsx. These platforms are Marketsi, MetaTrader 4, MetaTrader 5. Regardless of which platform you choose, you will get access to Market.com’s entire range of trading products.
We looked into the live prices of Markets.com for forex trading to see how Markets.com measures up. While live spreads should not be taken to mean you will get the same prices at a different time, they can indicate how competitive the broker’s prices will be. The below image shows the best spreads we witnessed at the time of testing. We took particular notice of the 0.6 pips for the EUR/USD currency pair.
We found the live spread of 0.6 pips of Markets.com interesting because it confirms that it won’t be too difficult to find spreads that match or better the minimum spreads other brokers publish on the website.
Markets.com offers clients a choice of 4 distinct trading platforms. These are
Marketsx is Markets.com signature trading platform. All clients that sign up with Markets.com will have access to this trading platform by default. Use this trading platform to access Markets.com entire range of CFD products and for Markets.com unique analytical trading tools.
Marketsx main selling point is the range of fundamental, technical, and sentimental trading tools. Features of Marketsx include:
If long-term stock shareholdings are your trading preferences then Market.com offers a share dealing account with their Marketsi. trading platform.
This platform includes an investment strategy builder which can be used to help clients look for certain stocks based on signals like market cap and use technical analysis tools to build their portfolio.
Markets.com offers one of the largest range of markets to trade of any online broker we have seen. Some of the markets that Markets.com offers are listed below:
Markets.com is one of the best brokers to use that is regulated by the Cyprus Securities and Exchange Commission (CySEC). This broker has some of the best spreads in the market to work alongside their cutting-edge proprietary platforms MarketsX and Marketsi, or the option of using the more well-known MT4 or MT5 platforms.
View Markets.com Review >>Visit Markets.com >>
FP Markets has some of the lowest spreads due to their ECN pricing with their RAW account. FP Markets is a no-dealing desk broker (NDD) meaning that the broker connects you with top-tier liquidity providers using fast execution speeds.
Fast execution helps reduce slippage which means a better likelihood of getting the best quote from liquidity providers,
FP Markets offers two different account types to choose from. The Standard account and RAW account. Both accounts offer the same features but one has commission costs and the other doesn’t.
The FP Markets standard account includes no commission costs when you trade with spreads that start from 1.0 pips for major forex markets.
As this account has no commissions, it is a good choice if you are new to trading and want to avoid commissions costs.
The second account type (and the FP Markets account we recommend) FP Markets offer is their Raw account. Choosing this account means you will get the lowest spreads FP Markets offers but will need to $3.00 commissions per side.
This account is best suited if you are a day trader that uses techniques like scalping and prefers to trade in a shorter time frame.
FP Markets spreads for their RAW account are very competitive with other brokers. Depending on your chosen currency pair. some spreads are unmatched by any broker.
Data taken from broker website. Accurate as at 01/08/2021
FP Markets has a great range of markets available with shares across multiple continents and metals against USD, AUD, and Euro. Like all CySEC brokers, you get negative balance protection meaning your account balance can never go into the red.
A large range of financial instruments means you can protect your portfolio through diversification and hedging.
Some of the markets available for trade include:
FP Markets offers a wide range of platforms for clients to trade their multiple financial instruments. FP Markets allows for the use of the world’s most popular platform MetaTrader 4 and 5 in WebTrader, Windows & Mac Platform, and App format available on IOS and Android.
MetaTrader 4 and 5 comes with over 50 pre-installed indicators so you can customize your trading strategy and (hopefully) make profitable trades.
A new addition to their range of platforms is their FP Markets Mobile trading app which allows clients to trade all of your favorite instruments via on the go. Some of the features of their new Mobile app are:
Note: FP Markets offers another trading platform called IRESS, how this is not available outside Australia.
FP Markets is a highly regarded broker that is regulated with CySEC with some of the best offerings of platforms with the choice of their FP Markets Mobile app or MetaTrader 4 or 5 that comes in a multitude of platforms. FP Markets has a great advantage of being able to offer two different accounts for clients with their Raw account having minimum spreads of 0 pips for EUR/USD. There is a market for everyone making FP Markets one of the best online brokers under CySEC regulation.
View FP Markets Review >>Visit FP Markets >>
Pepperstone isn’t just regulated by CySEC for Europe, they are also regulated by the following regulators in Europe:
This makes Pepperstone an excellent choice as you can be absolutely sure Pepperstone is following the highest regulatory standards available for traders in Europe.
Pepperstone is one of the few brokers to offer truly competitive spreads with their standard and STP or ECN pricing account. While market makers usually only offer standard accounts, brokers with no dealing desk have tight spreads on ECN pricing accounts but have higher markups on their standard accounts. Pepperstone spreads are excellent for both standard and ECn pricing accounts meaning you can comfortably choose either account type and not need to worry about paying more in trading costs.
Pepperstone’s Standard account has some of the best spreads of any no dealing desk style broker and even market maker brokers. Minimum spreads for currency pairs with this account include:
The module below shows compares the average spreads for the standard account each broker publishes on their website for the standard account. This module is updated each month. As you can see Pepperstone compares very well with other brokers for the standard accounts.
If you are looking for the tightest possible spreads then you will find this with the Pepperstone Razor account which has ECN pricing. Spreads are tight because there is no dealing meaning you pay commission brokerage costs when you open and close your position.
The below tool compares your trading costs with other brokers with ECN pricing + commission.
There are 3 accounts available with Pepperstone, Standard Account (MetaTrader), Razor Account (MetaTrader 4,5) Razor Account (cTrader). Regardless of which account you choose, you will get the following feature
One of the features of Pepperstone is its range of forex trading platform offerings. In addition to MetaTrader 4 and MetaTrader 5 (which you can find with many brokers), they also offer cTrader and a large diverse selection of social trading platforms. These platforms are MetaTrader Signals, Pelican and DupliTrade.
It is well known that MetaTrader 4 is the world’s most popular trading platform. Choose this platform if you are looking for a platform that has proven over and over to be reliable and has all the essential features you will need for successful trading. Key features of MT4 include:
Choose MT4 if:
MT5 is an upgrade on MT4. It has more trading tools and allows you to trade with a greater range of financial instruments. Key features of MT5 include:
Choose MT5 if:
This platform is a mainstream alternative to MetaTraders. While MetaTrader is better known, cTrader does have a loyal community of users and the platform does offer some selling points MetaTrader does not.
cTrader is a good choice for beginner traders as many argue the trading interface is cleaner, more intuitive, and therefore is faster to learn. Other features include:
Pelican Trading is an all-in-one trading platform as it allows manual trading, social trading, and copy trading platforms. Features of Pelican include:
DupliTrade is a copy trading platform designed to help you automatically duplicate the actions of other traders (known as providers). DupliTrade comes with a range of tools to help you find the best providers to copy and the features to help you monitor profits and performance in real-time.
Pepperstone is one of the best CySEC regulated brokers with its extremely tight spreads for the razer account type. They offer more than 1000 instruments to trade on spanning multiple different markets ranging from forex to cryptocurrencies. Pepperstone’s two account types ensure that whether you are an experienced day trader or just starting out that there is an account type for you.
View Pepperstone Review >>Visit Pepperstone >>
eToro distinguishes itself from other forex brokers on this list by being a specialist in social trading. eToro gives you the ability to trade over 2000 different assets including forex, crypto, and commodities directly through its social trading platform.
The eToro community is one of the largest with over 10 million users from more than 140 countries. Social trading with eToro allows you to leverage the skills of other traders in the community so you don’t have to do your own technical or fundamental analysis or even the trading yourself. eToro provides the platform to discuss trading ideas and gain insights and trading strategies with the community and also copy other traders’ trades using automation.
The main appeal of the eToro trading platform is its copy trading. eToro contains two features to help with your copy trading there are CopyTrader™ and CopyPortfolios™.
CopyTrader™ allows you to view what other traders in the community are doing and copy their trades automatically. With CopyTrader™ you get filters that allow you to find traders that fit your trading needs. factors you might consider filtering include risk score, assets, performance, yearly profit.
While CopyTrader™ allows you to copy a single trader, CopyPortfolios™ allows you to copy a pool of traders. While copying a successful trader can be a profitable trading strategy, it does not guarantee future performance so it’s a good defensive strategy to spread the risk by grouping multiple successful traders as an index.
eToro uses algorithms to find the best traders to forms an index based on a range of themes. These are rebalanced on a regular basis. and can consist of a single CFD or mix of CFD products.
CopyPortfolios™ indices include:
eToro has a wide range of markets available for clients to trade with differing levels of leverage as regulated by CySEC. eToro operates a market maker trading execution model meaning that the spreads are generally higher, but there are no commissions on the trades. Some of these markets are listed below:
IG Markets is one of the world’s largest forex brokers. 2 reasons the broker will appeal include:
IG has a large range of markets spreading over 17,000 financial instruments including forex, shares, and commodities. Due to the size of IG span of markets, it is easy to hedge your portfolio with multiple markets or to diversify your trading strategy.
IG has its commission costs built into the spreads and still has some of the most competitive spreads in the market. Some of the derivatives that IG has available are below:
One of the downsides of trading share CFDs on IG is that there is a minimum charge on the commissions of $15 for US markets, £10 for UK markets, and €10 for European markets. This is quite a fair amount if you only have a small amount in your account to use.
IG offers a few different platforms for clients to use starting with their proprietary platform, which is simply called IG trading platform. Other platforms available include MetaTrader 4, ProRealTime and L2 Dealer.
The IG trading forms have a number of selling points that will appeal to different traders.
IG has an average execution speed of 0.014 seconds. Fast execution means a lower chance of slippage or a better chance you will get the quoted price.
The IG trading platform also comes with order types to ensure you get the exact trade you want. These include:
Secondly are the risk management tools that come with the trading platform. These include:
View IG Markets Review >>Visit IG Markets >>
Plus 500 is a good option for a broker with a CySEC license because of its ease of use to manage risk on your trading portfolio. Plus 500 is popular with beginner traders because of its negative balance protection, guaranteed stop-loss orders, and no commission trading. They have made trading simple by only having one account for traders to use.
Plus 500 has a wide range of markets with over 2000 instruments to trade with from numerous markets. All of the markets available are in accordance with the CySEC leverage regulations, some of which are listed below:
Plus 500 offers traders a variety of tools that puts the control of the positions back into the trader’s hands. Risk management is one of the most important aspects that a trader can learn when trading. Plus500 provides you with a range of features that help protect your assets, these included below:
View Plus500 Review >>Visit Plus500 >>
*Your capital is at risk ‘72% of retail CFD accounts lose money’
FxPro does just offer the three most popular mainstream trading platforms, it offers a choice of fixed and variable spreads.
FxPro offers retail investors a choice of 3 trading accounts. The account you choose will depend on if you wish to trade with instant execution or market execution along with the type of trading platform.
Choose this account if you want to trade with instant execution which means no requotes. In addition to instant execution, FXPro offers fixed spreads for the following currency pairs.
Fixed spreads will vary depending on the time of day you are trading. There are 2 sessions, 23:00 – 8:00 and 8:00 to 23:00 UK time.
To use the FxPro MT4 Instant means you can only use the MetaTrader 4 trading platform but you will get access to FxPro’s entire product range.
Note: Another broker with CySEC regulation that offers fixed spread is easyMarkets. You can read about them in our easyMarkets review. In a similar vein, another broker that offers instant execution is FXTM. You can read more about them in our FXTM review.
FxPro MT4 uses the MetaTrader 4 trading platform and FxPro uses the MT5 trading platform. Other than this these two accounts are identical except for the fact MT4 also allows you to trade shares.
Choosing this trading platform means market exception and variable spreads. This account has tighter spreads than FxPro Instant.
cTrader account means using the cTrader trading platform. You cannot trade futures or shares with this platform but spreads are tight with a small commission for forex, gold, and other metals.
View FxPro Review >>Visit FxPro >>
IC Markets offers the best MT4/MT5 product ranges. With seven asset classes and over 235 financial instruments, beginner traders gain access to a diverse range of markets, yet not an overwhelming amount of CFDs (that makes it difficult to stay up to date with market movements).
IC Markets is regulated in three financial jurisdictions, being the FSA (Seychelles), ASIC (Australia) and CySEC (Cyprus/mainland Europe).
MetaTrader 4 was initially designed as a forex platform, therefore IC Markets MT4 option is better suited to forex traders happy to focus on currency trading. MT5 is a multi-asset platform, offering a wider range of asset classes to diversify trading strategies with share trading available. Additionally, customers can choose from 10 different Cryptocurrencies when trading CFDs with IC Markets on either MT4 or MT5, including Bitcoin, Ethereum and Dash. Yet, due to recent changes to FCA regulation, cryptos are no longer available to UK traders.
IC Markets offer two retail investor account types. As a beginner trader, the online broker’s standard account provides access to forex spreads that are inclusive of commission fees. Although spreads are much tighter when trading under an IC Markets Raw Spread account, commission fee calculations may be complicated for beginner traders. Raw spreads do not include commission, with traders paying a flat rate round-turn fee instead.
When trading forex with IC Markets, customers gain access to low spreads of 0.10 pips with a Raw Spread account and 1.1 pips with a Standard account type on the Euro vs US Dollar (EUR/USD) currency pair. Although traders can use leverage to magnify their gains, fx trading is considered a high-risk investment activity, and beginner traders should be careful when entering highly leveraged positions.
In conclusion, Markets.com is the best CySEC regulated broker available for European markets. Markets.com has the best spreads in the market as shown by their live spreads being lower than most other broker’s average spreads. Their range of tradable instruments includes some unique markets such as their blends which can be traded on multiple different platforms to suit any type of trader.
View Markest.com Review >>Visit Markets.com
CySEC brokers are not just for Cypriot traders, any broker with CySEC regulation can offer their services across the European Economic Zone, it is suggested you choose a broker with a top-level regulator and that this regulator provides oversite to your country.
If you are in Europe, examples of other regulators that comply with MiFID and are suitable to trade with include:
Note: If you are trading from outside Europe then you should look at brokers that have regulations for your country.
Some examples of regulations required of Forex Brokers regulated by CySEC to protect clients include:
Because CySEC fully complies with requirements set by MiFID, any broker that has CySEC regulation can be considered as safe to trade with and a broker you can trust.
Examples of top regulators include:
You should always use a broker with your countries regulator but if your country does not have a regulator then brokers most likely offer an off-shore regulator. Some brokers use these regulators because they are cheaper to obtain a license from and based in tax havens. You should only use if you don’t have other options. Examples include such as:
Disclaimer: Trading financial markets is a high-risk activity and there is the potential to lose money.