Over the last few years, Cyprus has become a popular hub for forex brokers, thanks to its regulatory environment and location. Overall, Cyprus forex brokers can offer attractive trading conditions despite the country’s EU membership. This is because it continues to operate as an offshore area, giving forex brokers specific tax privileges on the island.
Unsurprisingly, this has led to many brokers based in Cyprus itself. Yet, choosing the best broker is a complicated process. To help, I’ve reviewed ten of the best Cyprus-based forex brokers.
Fibo Group offers a wide range of trading accounts.
Admiral Markets provides a wide range of tradable assets and educational resources.
Comparison Table
Broker
Regulation
Min Deposit
Spreads From
Leverage
Assets
FP Markets
CySEC
$50
0.0 pips
Up to 1:500
Forex, CFDs, Stocks
XM
CySEC
$5
0.6 pips
Up to 1:500
Forex, CFDs, Stocks
eToro
CySEC
$50
1.0 pips
Up to 1:30
Forex, CFDs, Stocks, Crypto
Exness
CySEC
$1
0.0 pips
Up to 1:2000
Forex, CFDs, Metals
FxPro
CySEC
$100
0.6 pips
Up to 1:500
Forex, CFDs, Futures
Libertex
CySEC
$10
0.0 pips
Up to 1:600
Forex, CFDs, Crypto
Orbex
CySEC
Starting at $50
0.0 pips
Up to 1:500
Forex, CFDs, Metals
FXCC
CySEC
$0
0.0 pips
Up to 1:500
Forex, CFDs, Indices
Fibo Group
CySEC
$50
0.0 pips
Up to 1:1000
Forex, CFDs, Crypto
Admiral Markets
CySEC
$100
0.5 pips
Up to 1:500
Forex, CFDs, Stocks, ETFs
Criteria Breakdown Summary
To help me review the best CySEC regulated forex brokers, I put together a set of criteria to measure each one against. My criteria included regulatory compliance, trading platforms, tradable assets, fee structure and spreads, customer support, and availability of educational resources. I rated each broker on a scale of 1-5 for each criterion, giving a clear view of its performance.
FP Markets
Best Known for Competitive Pricing and Advanced Technology
FP Markets was established in 2005, giving it almost two decades of experience. This broker has a strong reputation in the forex and CFD industry and operates under CySEC regulation. With competitive pricing and plenty of trading technology, FP Market is a popular choice.
It’s possible to access over 10,000 tradable instruments across different asset classes. I recommend this broker for both beginner and experienced traders.
FP Markets is a Cyprus forex broker with ultra-low spreads. Source: FP Markets
Features
FP Market has many useful features for all traders. It has several trading platforms to choose from, including MetaTrader 4 & 5, along with the proprietary IRESS platform. There are also several account types to choose from, from beginner to professional options. Spreads begin at 1.0 pips on the Standard account, with leverage up to 1:500.
Pros
Low fees and competitive spreads across most instruments
Advanced trading technology and fast execution speeds
Wide range of trading instruments including stocks, indices, and cryptocurrencies
Robust educational resources and market analysis tools
Cons
Limited cryptocurrency offerings compared to some competitors
Higher minimum deposit for certain account types
Customer support can be slow during peak hours
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 5/5
Asset Selection: 4/5
Fees and Spreads: 4/5
Customer Support: 4/5
Educational Resources: 5/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
Overall, FP Markets receives positive feedback from traders and industry experts. Most users appreciate the advanced technology and the competitive pricing structure. They also emphasize excellent customer support and availability of educational resources.
“Needed some help with setting up my account. The online chat with Eli was fantastic, sorted within minutes. Well impressed with the service.” – Nicholas via Trustpilot
“Very quick to respond in the live chat and give a detailed answer. Highly recommend this broker as I’ve had no problems so far and have been using them for over 6 months.” – SP via Trustpilot
Industry experts agree with user sentiment and also emphasize select tradable instruments. They recommend FP Markets for both beginner and advanced traders.
FP Markets requires a $50 minimum deposit to open a standard account. Spreads start from 0.0 pips on raw spread accounts with a commission of $3.50 per lot per side. Standard accounts offer spreads from 1.0 pips with no commission.
XM
Best Known for Research and Educational Tools
XM is a well-established broker that was founded in 2009. It has since established itself as a leading CySEC regulated broker, focusing on education and research. XM offers a comprehensive trading environment that is ideal for both experienced traders and beginners alike. In particular, this broker offers a range of educational tools and research tools, suitable for all trading ability levels.
As a CySEC regulated broker, XM offers favorable trading conditions, with more than 1000 tradable instruments. Source:XM
Features
XM has a range of trading platforms, including MetaTrader 4 & 5, and their proprietary platform, XM WebTrader. There are several account types offered, and spreads start at 0.6 pips with leverage up to 1:500 for non-EU clients. XM also provides negative balance protection for extra peace of mind.
However, XM’s standout feature is its huge range of educational resources. This includes webinars, tutorials, and ebooks. There is also daily market analysis and access to the XM Research Portal.
Pros
Excellent research and educational resources
Multi-lingual support and localized services
Wide range of trading instruments
Competitive spreads and no commission on standard accounts
Cons
Limited product range compared to some competitors
Higher spreads on some instruments during volatile market conditions
No U.S. clients accepted
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 4/5
Asset Selection: 4/5
Fees and Spreads: 4/5
Customer Support: 5/5
Educational Resources: 5/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
XM has generally positive feedback from users, especially for its large range of educational resources and research tools. Market analysis tools are also mentioned favorably. Additionally, users highlight the multilingual customer support quality and availability.
“With XM being my first broker and real experience with trading live, I had to do my research first and I think I made a good choice. My deposit and withdrawal has been smooth, no issues at all.” – Wael Al-Sahlani via Trustpilot
“This broker has a variety of trading assets that can be profitable and versatile… with XM I have a diversified portfolio. I trade EUR/USD a lot and the spreads are quite good.” – Chai Ratchanon via Trustpilot
Industry experts recommend XM for beginner and advanced traders. However, they do note that the range of tradable assets could be expanded, particularly cryptocurrency. Read more information in our XM review.
Pricing
XM offers a low $5 minimum deposit for micro accounts. Standard accounts have no commission with spreads from 1.0 pips, while XM Zero accounts offer raw spreads from 0.6 pips with a commission of $3.50 per lot per side.
eToro
Best Known for Social and Copy Trading
eToro is a well-known broker that was founded in 2007 and is regulated by CySEC. It is famous for its innovative copy and social trading features, along with a unique blend of social and traditional investing approaches. This broker makes it easy to identify successful trades and replicate them.
There are many tradable assets available, including ETFs, stocks, forex, and cryptocurrencies. Additionally, there are machine learning algorithms for trader performance analysis.
eToro is a Cyprus forex broker that boasts 35 million worldwide users and won a Forbes ‘Best of 2024’ award.Source: eToro
Features
eToro has many features but its standout one is its social trading platform. This is an ideal choice for beginners and intermediate traders alike as it allows for replication of successful past trades. Additionally, the platform is easy to use and is available in both a web and mobile version.
There are many tradable instruments available. This broker also provides commission-free stock trading and competitive CFD spreads. Additionally, there are several initiatives for regular traders, including the Popular Investor program and the eToro Club for high volume-traders.
Pros
Innovative social and copy trading features
User-friendly platform suitable for beginners
Commission-free stock trading
Wide range of assets including cryptocurrencies
Cons
Higher spreads compared to some traditional brokers
Limited advanced trading tools for experienced traders
Withdrawal fees may apply
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 4/5
Asset Selection: 5/5
Fees and Spreads: 3/5
Customer Support: 4/5
Educational Resources: 5/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
eToro receives high praise from users for its social trading features in particular, along with its user-friendly platform. Both beginner and intermediate traders enjoy the ability to copy successful traders, while also highlighting the large range of tradable assets. Additionally, users mention the range of educational resources as another highlight.
“Choosing Etoro as an investing platform was the right choice from the beginning. I haven’t had any issues or complaints. Platform is always up to date and keeps surprising with its new features and updates.” – Grisha Lunga via Trustpilot
“Great platform for beginners, and more advanced. Simple to use allowing you to monitor the performance of your portfolio at your fingertips. I really like their trading and investing videos, giving you step-by-step guidance on how to start and evolve as a trader / investor.” – Elizabeth Taylor via Trustpilot
Industry experts rate eToro for its unique approach to trading. However, they do mention the lack of advanced charting tools. Our eToro review gives more details.
Pricing
eToro requires a minimum deposit of $50 (or equivalent). Stock trading is commission-free, while CFD trades incur spreads that vary by asset. Cryptocurrency trades are subject to a 1% fee.
Exness
Best Known for Low Spreads and Fast Execution
Exness was founded in 2008 and is another popular Cyprus-based forex broker. It is known for its competitive pricing structure and fast order execution. CySec regulates this broker and offers a range of different account types for specific trading styles. Exness is particularly popular amongst high-volume traders and those who enjoy tight spreads.
Exness is one of the world’s largest retail brokers and is based in Cyprus. Source: Exness
Features
Exness has a range of trading platforms available, including MetaTrader 4 & 5, and its mobile trading app. Additionally, there are several account types for different trading needs, and spreads start at 0.0 pips. Leverage reaches up to 1:2000 for some tradable instruments, which is something Exness is known for.
There is also a personal area within the platform for account management, including detailed trading reports, and a partner program.
Pros
Extremely low spreads and commissions
Fast order execution and stable platforms
High leverage options for experienced traders
No minimum deposit requirement
Cons
Limited research and analysis tools
High leverage can increase risk for inexperienced traders
Customer support can be slow during peak hours
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 4/5
Asset Selection: 4/5
Fees and Spreads: 5/5
Customer Support: 4/5
Educational Resources: 4/5
Deposit/Withdrawal Options: 5/5
Community Reviews and Expert Recommendations
Overall, Exness has positive reviews from users, especially for its competitive pricing and fast execution speeds. Additionally, users mention the low spreads and different account types. Experienced traders especially enjoy high leverage. However, while the trading conditions are good, many users feel the platform may benefit from advanced analytical tools.
“This is really a cool, well documented platform giving you proper insight and updated info.So easy and comfortable to manage trading position.Thumbs up to you guys.” – MTA via Trustpilot
“Exness is one of the best, fair & transparent brokers I’ve ever experienced. Its all features are excellent & spreads are fabulous & instant withdrawal features are loving to use it. In addition, their zero balance protection & stop out protection are making exness unique from all others brokers. I love using it. Their customer support is very helpful.” – MOHSIN via Trustpilot
Industry experts recommend Exness for experienced and beginner traders. They especially praise competitive pricing. Our Exness review provides more information.
Pricing
Exness requires a minimum deposit of just $1. Spreads start from 0.0 pips on Raw Spread accounts with a commission of $3.50 per lot per side. Standard accounts offer spreads from 1.0 pips with no commission.
FxPro
Best Known for Advanced Trading Platforms and Tools
FxPro was established in 2006 and has a quality reputation for its trading platforms and range of tools. With an office in Cyprus, CySEC regulates this broker with other global authorities. It is a great choice for both professional and retail traders, offering a large range of tradable instruments.
Additionally, FxPro has a No Dealing Desk (NDD) execution model that offers transparent pricing.
FxPro is a CySEC regulated broker that offers fast execution speeds and a range of tradable instruments. Source: FXPro
Features
FxPro offers MetaTrader 4 & 5 with the FxPro Edge platform with its range of unique features. This broker has competitive spreads that start at 0.6 pips along with leverage up to 1:500 for professional traders. There is a free VPS service and access to the FxPro Tools suite for market analysis. The FxPro Quant strategy builder is ideal for algorithmic traders.
Pros
Wide range of advanced trading platforms and tools
Competitive pricing and fast execution
Extensive educational resources and market analysis
Regulated by multiple tier-1 authorities
Cons
Higher minimum deposit for some account types
Limited offering of commission-free trading
No U.S. clients accepted
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 5/5
Asset Selection: 4/5
Fees and Spreads: 4/5
Customer Support: 4/5
Educational Resources: 4/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
FxPro generally receives positive reviews for its services. Users particularly like its advanced trading platforms and tools, along with fast execution. Educational resources and market analysis are also praised, along with quality customer service. However, some users state that minimum deposit requirements for some account types are higher than similar brokers.
“It was tough for me to choose the trading account. Obviously, I didn’t think of the Elite one because the minimum deposit is kinda inflated, still Raw+ turned out to be a good option for me. All-inclusive spreads which are narrow allow me to trade profitably using my fast-pace strategy, when I catch entry points every minute or several ones. In general, I can recommend this platform.” – Valerio Parisi via Trustpilot
“Great customer service! I had an issue with my account and they fixed it super fast. Everything works perfectly now. Thanks FxPro, very happy with your support!” – Agung Alamsyah via Trustpilot
Industry experts recommend FxPro for intermediate and professional traders in particular. Learn more in our FxPro review.
Pricing
FxPro requires a minimum deposit of $100 for standard accounts. Spreads start from 0.6 pips on standard accounts with no commission. Raw spread accounts offer spreads from 0.0 pips with a commission of $45 per million traded.
Libertex
Best Known for Commission-Free Trading on Some Instruments
Libertex is a highly-regarded broker that was founded in 1997 and has an office in Cyprus. It offers a commission-free trading process on certain assets and is regulated by CySEC. The platform is easy to use and suitable for both beginner and experienced traders. Libertex offers many tradable instruments available, including forex, indices, commodities, stocks, and cryptocurrencies.
Libertex is a Cyprus-based forex broker with many trading instruments. Source: Libertex
Features
Libertex’s main feature is its commission-free trading on specific instruments, with profit and loss calculated via a unique multiplier system. It offers a proprietary platform and MetaTrader 4, with an easy-to-use approach. This broker offers leverage up to 1:600 for professional traders and has negative balance protection. Beginner traders can use the demo account for practice trades, and there is a quality educational center with many resources.
Pros
Commission-free trading on some instruments
User-friendly platform suitable for beginners
Wide range of tradable assets
Regulated by CySEC with a long operating history
Cons
Limited advanced trading tools for experienced traders
Higher spreads on some instruments compared to traditional brokers
Not available to traders in all countries
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 4/5
Asset Selection: 4/5
Fees and Spreads: 4/5
Customer Support: 4/5
Educational Resources: 4/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
Libertex receives positive feedback for its features, with its commission-free model mentioned most often. Users highlight its user-friendly platform and easy approach to trading. Beginner traders particularly enjoy the demo account and educational resources. However, some users would like more charting tools.
“First, this company has provided a great help to me by allowing a $50,000:00 virtual balance that I can use in trading without spending my own funds. Not only that but also the increase you get from your trading becomes yours. Secondly, I see this company great by providing three ways where you can earn real rewards. Through Trading, Investing, and Mining. Apart from these you also have other chances to grow your earning by joining the trade tournament and even a bonus fund for email verification.” – Katireta Toatara via Trustpilot
“I am happy to express my grateful emotions via this 5 star review. I consistently use the many indicators offered by the Libertex Platform. Adding to that, the Libertex extensive video course actually teaches you how to use them properly. Last but not least Libertex offers very helpful signal trading when a stock action is in the high or low of the day. All of that said, I am more than satisfied to state that Libertex has helped me develop into the consistent Day Trader I am today.” – SkyBones via Trustpilot
Industry experts recommend Libertex for beginner and intermediate traders and praise its commission-free approach on some instruments.
Pricing
Libertex requires a minimum deposit of $10. The broker offers commission-free trading on select instruments, with costs built into the spread. Multipliers (leverage) vary by instrument, ranging from 1:2 to 1:600 for professional clients.
Orbex
Best Known for Comprehensive Educational Resources
Orbex is a Cyprus forex broker that was established in 2011. It has become popular due to its excellent educational resources and trader focus. CySEC regulates this broker and offers a large range of services to both retail and institutional traders. Orbex has a large number of tradable assets, it’s possible to trade with forex, indices, cryptocurrencies, and commodities.
As a Cyprus forex broker, Orbex offers various features, including MetaTrader tools. Source: Orbex
Features
Orbex offers both MetaTrader 4 with its unique features, along with the proprietary Web Trader platform. There are many account types to choose from and competitive spreads starting at 0.0 pips with up to 1:500 leverage.
However, this broker is known for its educational resources, including webinars, video tutorials, and ebooks. Additionally, the Orbex Strategizer is useful for custom indicator development, and there is a free VPS service.
Pros
Extensive educational resources and market analysis
Competitive spreads and diverse account types
Free VPS service for algorithmic trading
Regulated by CySEC with negative balance protection
Cons
Limited range of tradable assets compared to some competitors
Higher minimum deposit for certain account types
No U.S. clients accepted
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 4/5
Asset Selection: 4/5
Fees and Spreads: 4/5
Customer Support: 4/5
Educational Resources: 5/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
Orbex often receives positive reviews for its educational resources and trader support in particular. Most users rate the webinars and trading tutorials in particular. However, the competitive spreads and range of account types are also regularly mentioned as positive aspects.
“It’s been three months since I used the Orbex platform. I couldn’t find better than friendly customer service and various deposit methods, including the Tron network. I personally trust you and do not think about changing this platform at all.” – Mohamed Aly via Trustpilot
“Orbex is a very trusted broker, they have many types of accounts that offer you the flexibility of spread and fees, they also provide traders with educational material both in Arabic and English. No problem in deposit or withdrawal and the process is instant.” – Assem Mansour via Trustpilot
Industry experts recommend Orbex for beginner and intermediate traders and praise the educational resources on offer. Discover more in our Orbex review.
Pricing
Orbex requires a $50 minimum deposit for standard accounts, with varying requirements for other accounts. Spreads start from 0.0 pips on ECN accounts with a commission of $9 per lot round turn. Standard accounts offer spreads from 1.0 pips with no commission.
FXCC
Best Known for Low Spreads and Commissions
FXCC has over a decade of experience, having been founded in 2010. This is a forex and CFD broker that is known for low trading costs, and it is regulated by CySEC. FXCC has an STP/ECN model and gives direct market access. There are many tradable instruments on offer, including commodities, forex, indices, and cryptocurrencies.
FXCC is a Cyprus forex broker that offers bonuses for new traders.Source: FXCC
Features
FXCC offers the MetaTrader 4 platform via desktop, mobile, and web. There is an ECN account type that has spreads starting at 0.0 pips and low commissions. Additionally, there is a free VPS service, detailed trading reports, and access to Trading Central for analysis.
This broker offers an Islamic account for swap-free trading. Signing up for an account is fast and easy, thanks to the automated account verification system.
Pros
Extremely competitive spreads and low commissions
True ECN/STP execution with no dealing desk intervention
Free VPS service for all clients
Regulated by CySEC with segregated client funds
Cons
Limited range of tradable assets compared to some competitors
Basic research and analysis tools
No U.S. clients accepted
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 4/5
Asset Selection: 4/5
Fees and Spreads: 5/5
Customer Support: 4/5
Educational Resources: 4/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
Overall, FXCC has positive feedback from users, particularly for its low trading costs and ECN execution model. Many users appreciate the tight spreads and low commissions, and state it is a good choice for high-volume traders. However, while many users enjoy the trading conditions, they would like advanced research and analysis tools.
“I have had a good experience with FXCC. They are so committed to providing transparent services and making sure their traders have nothing to worry about. Also as a trader, I live for low spreads because I can’t have the market taking most of my hard work. With FXCC I can manage my trading costs. Also don’t get me started on how user-friendly their interface is by making sure they provide advanced trading tools so the overall experience will be very satisfactory.” – Zack Deckow via Trustpilot
“Reliability of FXCC is beyond doubt. Obviously, this is one of the most reputable brokers. And that’s why my money is completely safe in my account here.” – Billy Jackson via Trustpilot
Industry experts recommend FXCC for beginner and advanced traders and highlight its low-cost trading experience.
Pricing
FXCC requires no minimum deposit. The broker offers a single ECN account type with spreads starting from 0.0 pips and a commission of $3.50 per lot per side.
Fibo Group
Best Known for Wide Range of Trading Accounts
Fibo Group was founded in 1998 and is a Cyprus-based forex broker. It has a quality recommendation for its many account types and tradable instruments. These include CFDs, forex, and cryptocurrencies. Regulated by CySEC, Fibo Group offers competitive trading conditions.
Fibo Group is a Cyprus forex broker that offers 0% commission on all payments and many account types. Source: Fibo Group
Features
Fibo Group offers MetaTrader 4 & 5 with cTrader. However, its main feature is its range of account types, including a fixed spread account, variable spreads, and ECN account. Spreads start at 0.0 pips and leverage up to 1:1000 is available for some account types. There is a free VPS service, market analysis tools, and copy trading function.
Pros
Wide range of account types to suit different trading styles
Competitive spreads and commissions across account types
Multiple trading platform options including cTrader
Long operating history and multi-jurisdictional regulation
Cons
Higher minimum deposits for some advanced account types
Complex account structure may be confusing for beginners
Limited educational resources compared to some competitors
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 4/5
Asset Selection: 4/5
Fees and Spreads: 4/5
Customer Support: 4/5
Educational Resources: 4/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
Fibo Group has mixed reviews from users. Many highlight the range of account types and competitive trading conditions, however some users feel the account structure is challenging for beginners. Some users also feel the educational resources could be expanded.
“I am very pleased with the work of Fibo Group LTD. The site is convenient, employees are always in touch, quotes are accurate. The range of tools is large, you can find anything. I recommend this broker to anyone who wants to start investing.”Dax Jenkins via Trustpilot
“I have worked with Fibo for 3 years. FiboGroup makes my trading life much easier than before thanks to copy cTrader. I recommend.” – Luca Matthews via Trustpilot
Industry experts recommend Fibo Group for beginner and advanced traders, and highlight the different account types. Read our Fibo Group review for details.
Pricing
Fibo Group‘s minimum deposit varies by account type, from $50. Spreads start from 0.0 pips on ECN accounts with a commission of $4 per lot round turn. Fixed spread accounts offer spreads from 2 pips with no commission.
Admiral Markets
Best Known for Wide Range of Tradable Assets and Educational Resources
The last Cyprus-based forex broker I reviewed was Admiral Markets. This broker was established in 2001 and offers forex and CFD trading with a strong focus on education. Admiral Markets is regulated by CySEC and other authorities, and offers a range of tradable assets and advanced trading tools. This broker is particularly popular due to its large range of educational resources.
Admiral Markets is a Cyprus-based forex broker with access to global markets.Source: Admiral Markets
Features
Admiral Markets offers several trading platforms, including MetaTrader 4 & 5 and its proprietary Supreme Edition plugin. There are several account types on offer, with spreads starting 0.0 pips. Leverage up to 1:500 is available for professional clients.
The standout features of this broker are its educational and research/analytics resources. The Premium Analytics portal is an excellent addition, and the webinar series is extensive. Additionally, this broker offers real stock and ETF trading, and CFDs.
Pros
Wide range of tradable assets including real stocks and ETFs
Comprehensive educational resources and market analysis tools
Advanced trading platforms with proprietary enhancements
Regulated by multiple tier-1 authorities
Cons
Higher minimum deposit compared to some competitors
Complex account structure may be overwhelming for beginners
Higher spreads on some instruments compared to pure ECN brokers
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 5/5
Asset Selection: 5/5
Fees and Spreads: 4/5
Customer Support: 4/5
Educational Resources: 5/5
Deposit/Withdrawal Options: 4/5
Community Reviews and Expert Recommendations
Admiral Markets generally receives positive praise for its large range of educational resources and many tradable assets. Many users enjoy the MetaTrader Supreme Edition plugin, in particular. However, some traders believe the account structure and minimum deposits may not be attractive to beginners or those who prefer low cost trading.
Industry experts recommend Admiral Markets for beginner and intermediate traders in particular. They particularly note the large range of educational and analytical tools. Read more in our Admiral Markets review.
Pricing
Admiral Markets requires a minimum deposit of $100. Spreads start from 0.0 pips on Zero accounts with a commission of €3 per lot per side. Trade.MT5 accounts offer spreads from 0.5 pips with no commission.
Notable Mentions
IC Markets
IC Markets is a popular broker known for its low spreads and fast execution. This broker is popular with scalpers and high-volume traders.
Pepperstone offers a large range of trading platforms and excellent customer support. It is a popular choice for experienced and beginner traders alike. Our Pepperstone review provides more information.
Plus500
Plus500 has an easy-to-use proprietary platform and a large range of CFDs. It is a good choice for traders who prefer a simplistic approach and diverse asset selection.
Frequently Asked Questions
What are the advantages of trading with a Cyprus-based forex broker?
Choosing forex brokers in Cyprus provides strong regulation through CySEC, giving peace of mind. This regulation ensures a high level of trader protection and EU standards compliance. Additionally, Cyprus forex brokers benefit from the country’s strategic location. This means they can potentially provide lower cost services to traders.
How do I choose the right Cyprus forex broker for my trading needs?
Choosing the best forex brokers in Cyprus takes time and effort. It’s important to explore factors such as regulatory compliance, platforms, assets, fee structure, customer support quality, and educational resources. Additionally, consider your trading goals and compare the top forex brokers in Cyprus accordingly.
What is the minimum deposit required to start trading with Cyprus forex brokers?
Each Cyprus-based forex broker has different minimum deposit requirements. These range from $0 to $500 for standard accounts. However, accounts designed for experienced brokers may have higher minimum deposit requirements.
Are Cyprus forex brokers safe and reliable?
Cyprus forex brokers regulated by CySEC are considered safe as this is a top-tier regulator. Brokers must adhere to strict directives, including segregating client funds, and participating in the Investor Compensation Fund.
What trading platforms do Cyprus forex brokers typically offer?
Cyprus forex brokers offer a range of trading platforms, including MetaTrader 4 & 5. Additionally, some brokers provide apps for on-the-go trading. It’s important to think carefully about your preferred platform and its associated features before making a final decision.
Final Thoughts
I have reviewed ten of the best Cyprus forex brokers and it’s clear that they all have their pros and cons. There is no perfect choice for everyone, so it’s important to consider your trading goals and preferences before making a decision. However, choosing a broker based in Cyprus has the advantage of CySEC regulation and the possibility of lower costs thanks to the country’s strategic location.
However, the Cyprus trading industry continues to shift and change, and staying up-to-date with market trends is important.
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