Best Forex Brokers in Cyprus 2025 [CySEC]

Cyprus is widely recognized as one of the leading forex trading hubs in Europe, driven by its advanced regulatory structure and strong connection to EU financial institutions.

As an EU and EEA member state, Cyprus grants CySEC regulated brokers passporting rights to offer services throughout Europe. Investor safeguards include negative balance protection, strict capital adequacy requirements, and coverage under the Investor Compensation Fund ICF.

		Pepperstone	Study Review	Sign up
		FP Markets	Study Review	Sign up
		XM Group	Study Review	Sign up
4		AvaTrade	Study Review	Sign up
5		Tickmill	Study Review	Sign up
6		Libertex	Study Review	Sign up
7		Eightcap	Study Review	Sign up
8		IC Markets	Study Review	Sign up
9		FxGrow	Study Review	Sign up
10		FxPro	Study Review	Sign up

Comparison of Best CySEC Forex Brokers Based on Trustpilot Rating

Although all these brokers are the best forex trading providers in Cyprus and whole Europe, but the table below provide a better view of their trust scores in Trustpilot:

Comparison of Forex Brokers in Cyprus Based on Spreads

In Cyprus, CySEC regulated brokers compete by offering tight spreads across major currency pairs under transparent pricing models.

The table below highlights the top forex brokers in Cyprus, ranked based on their average spreads and cost efficiency:

Non-Trading Fees of the Forex Brokers in Cyprus

Non trading fees can significantl affect long term profitability, particularly for traders who deposit or withdraw funds frequently.

CySEC regulated forex brokers in Cyprus apply different policies for charges such as inactivity fees, deposit fees, and withdrawal costs.

Number of Tradable Instruments of the Forex Brokers in Cyprus

The number of tradable instruments reflects the overall market access offered by a forex broker.

CySEC regulated brokers in Cyprus typically provide a wide range of assets, including forex pairs, indices, commodities, shares, and CFDs.

Top 10 Forex Brokers in Cyprus

Many internationally recognized forex brokers operate through Cyprus based entities, benefiting from MiFID II passporting rights across the European Economic Area. Best forex brokers on Cyprus offer access to global markets, competitive pricing model. Each of these brokers will be introduced in the following sections.

FP Markets

FP Markets, officially known as First Prudential Markets, is a multi-regulated forex and CFD broker established in 2005. The broker operates under several financial authorities, including ASIC in Australia, CySEC in Cyprus with license number 371/18, FSCA in South Africa, FSC, and FSA jurisdictions.

By going through FP Markets registration, you will have access to advanced trading solutions such as copy trading, algorithmic trading, PAMM, and MAM accounts.

Investor protection measures include segregated client funds and negative balance protection. FP Markets is widely recognized for its competitive pricing, fast execution, and strong global regulatory coverage, making it a popular choice among both retail and professional traders.

FP Markets Pros and Cons

The table below highlights the main advantages and disadvantages of FP Markets.

IC Markets

IC Markets is a multi-asset forex and CFD broker established in Australia in 2007, offering 10 base currencies including USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.

The broker operates through regulated entities such as IC Markets EU Ltd under CySEC and International Capital Markets Pty Ltd under ASIC, while Raw Trading Ltd is regulated by the FSA in Seychelles. Key safeguards include segregated client funds, external audits, AML procedures, and Investor Compensation Fund coverage up to €20,000 for CySEC clients.

IC Markets provides access to MetaTrader 4, MetaTrader 5, cTrader, cTrader Web, and IC Markets Mobile, with account options including Standard, Raw Spread, and Islamic.

Pricing is designed for active traders, with spreads from 0.8 pips on Standard accounts, raw spreads from 0.0 pips on MT4 and MT5 or cTrader, and commissions around $3 to $3.50 per lot side depending on platform (with IC Markets rebate program also available).

IC Markets Pros and Cons

Below, you can find a detailed overview of IC Markets’s strengths and weaknesses.

FxGrow

FxGrow is a Cyprus based forex and CFD broker established in 2008 and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license 214/13. Operating under a true ECN execution model, FxGrow provides access to over 600 tradable instruments, including Forex pairs, indices, commodities, metals, energies, futures CFDs, and cryptocurrencies.

FxGrow dashboard exclusively supports MetaTrader 5, offering advanced charting, algorithmic trading, and multi asset functionality across desktop, web, and mobile devices.

Client funds are fully segregated, negative balance protection is applied, and no inactivity or withdrawal fees are charged after FxGrow registration. While FxGrow delivers strong execution quality and flexible trading conditions, its educational content and platform variety remain limited compared to larger global brokers.

FxGrow Pros and cons

Table below provides a better look on FxGrow pros and cons.

FxPro

FxPro is a globally recognized forex and CFD broker founded in 2006, known for its fast execution speed of under 12 milliseconds and a strong institutional trading infrastructure. The broker provides access to over 2,100 tradable instruments across forex, shares, indices, futures, metals, energy, and cryptocurrencies.

FxPro operates under multiple regulatory authorities, including the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, and the Securities Commission of The Bahamas.

These licenses ensure high standards of regulatory compliance, transparency, and client protection.

Traders can choose from four account types including Standard, Pro, Raw+, and Elite in FxPro dashboard, with spreads starting from 0.0 pips on Raw+ and Elite accounts and leverage up to 1:500 depending on jurisdiction.

FxPro broker supports MetaTrader 4, MetaTrader 5, cTrader, WebTrader, and a proprietary mobile application, offering flexibility for manual, algorithmic, and copy trading strategies.

FxPro Pros and Cons

The following table outlines the key pros and cons associated with FxGrow.

XM Group

XM Group is a global brokerage founded in 2009 that reports 15 million clients and nearly 14 million trades per day, with operational hubs in Cyprus, South Africa, Dubai, and Belize.

Additional oversight comes from the DFSA in Dubai under Trading Point MENA Limited license F003484, FSC Belize under XM Global Limited license 000261/27, FSC Mauritius under XM International MU Limited license GB23202700, and the FSA in Seychelles under XM (SC) Limited license SD190.

Execution policies such as guaranteed fills up to 50 lots and negative balance protection aim to support both new and experienced traders.

While the broker remains popular due to its broad global reach, low entry threshold, and frequent promotions such as the XM copy trading. 

XM Group Pros and Cons

XM Groups’s main benefits and drawbacks are summarized in the table below.

Pepperstone

Pepperstone is a globally recognized forex and CFD broker founded in 2010 in Melbourne, Australia, processing an average daily trading volume of $9.2 billion for more than 400,000 active clients.

The broker supports 10 base currencies including USD, EUR, GBP, AUD, JPY, CHF, CAD, NZD, SGD, and HKD.

Pepperstone broker operates under a strong multi-jurisdiction regulatory framework, holding licenses from top tier authorities such as ASIC in Australia, FCA in the UK, CySEC in Cyprus, BaFin in Germany, DFSA in Dubai, CMA in Kenya, and SCB in the Bahamas.

The broker offers two main account types after completing Pepperstone registration, with spreads starting from 0.0 pips on Razor accounts and commission-based pricing for active traders.

Pepperstone provides broad platform support including MetaTrader 4, MetaTrader 5, cTrader, TradingView, and proprietary web and mobile platforms, alongside copy trading solutions via Signal Start, DupliTrade, and MetaTrader Signals.

Pepperstone Pros and Cons

The table presented below offers a clear comparison of Pepperstone’s pros and cons.

AvaTrade

AvaTrade is a multi-asset brokerage that requires a $100 minimum deposit and supports six main payment methods including credit and debit cards, bank wire transfers, Skrill, Neteller, WebMoney, and PayPal.

AvaTrade operates under a broad regulatory structure with nine licenses, including the Central Bank of Ireland (CBI), CySEC in Cyprus, ASIC in Australia, FSCA in South Africa, JFSA in Japan, ADGM in Abu Dhabi, ISA in Israel, and BVI FSC, while also aligning with MiFID II requirements in Europe.

Client protection measures include segregated funds and negative balance protection, and EU clients can benefit from compensation coverage up to €20,000 under the Investor Compensation Fund through CySEC and CBI linked entities.

AvaTrade dashboard also provides copy trading through DupliTrade and AvaSocial, alongside an affiliate and referral program, but its non-trading fee model can penalize long periods of inactivity.

AvaTrade Pros and Cons

A breakdown of AvaTrade’s advantages and limitations is shown in the table below.

Eightcap

Eightcap is a Melbourne based forex and CFD broker founded in 2009 that offers access to six tradable markets including forex, commodities, metals, crypto, indices, and shares, with maximum leverage up to 1:500.

Spreads start from 1.0 pip on Standard and TradingView accounts, while Raw pricing can start from 0 pips with a commission model alongside Eightcap rebate.

Eightcap operates under a multi jurisdiction regulatory structure, with oversight from ASIC in Australia through Eightcap Pty Ltd, FCA in the United Kingdom through Eightcap Group Ltd, CySEC in Cyprus through Eightcap EU Ltd, and SCB in the Bahamas through Eightcap Global Limited.

Trading access is delivered through MetaTrader 4, MetaTrader 5, and TradingView, supported by add on tools such as Capitalise.ai for code free automation, FlashTrader for rapid order execution and position sizing, and an AI powered economic calendar for macro event impact tracking.

Eightcap broker also reports a Trustpilot score of 4.3 out of 5 based on 2,300+ reviews, while keeping its product stack focused on third party platform integration rather than proprietary investment services. 

Eightcap Pros and Cons

The table below provides a concise summary of Eightcap’s positive and negative aspects.

Tickmill

Tickmill is a multi-asset forex and CFD broker founded in 2014 that reports 785,000+ registered users, operates in 180+ countries, and averages more than $129 billion in monthly trading volume.

With pricing that can start from 0.0 pips and leverage that can reach up to 1:300 or higher depending on the regulated entity.

Tickmill runs a no dealing desk (NDD) execution model, routing orders directly to liquidity providers to support fast fills and reduced dealing desk interference.

The group is regulated across several jurisdictions, including CySEC in Cyprus through Tickmill Europe Ltd, FCA in the UK through Tickmill UK Ltd, FSCA in South Africa under license FSP 49464, and FSA in Seychelles through Tickmill Ltd, alongside LFSA oversight in Labuan and DFSA coverage for its UAE presence.

For accounts, Tickmill broker mainly offers Classic and Raw, where Classic is spread based and Raw combines tight spreads with a commission model, with MetaTrader 4, MetaTrader 5, MetaTrader Web, and mobile apps available.

The broker also provides Tickmill Social Trading in eligible regions, runs promotions such as the $30 Welcome Account, NFP Machine, Trader of the Month and Tickmill rebate. (All bonuses are available after Tickmill registration)

Tickmill Pros and Cons

You can review Tickmill’s core strengths and potential downsides in the table below.

Libertex

Libertex is a CySEC-regulated financial broker operating under the Libertex Group. Founded in 1997, the company serves over 3 million clients across more than 120 countries and provides access to five major markets: Forex, Cryptocurrencies, Commodities, Stocks, and Indices.

The broker offers four live account types including Real, Invest, MT4, and MT5, alongside a demo account for practice. Orders are executed through Market and Instant Execution models.

Libertex broker follows MiFID II compliance standards and applies strict client fund segregation policies to enhance trader protection. The broker supports copy trading services, allowing users to mirror professional strategies.

Libertex dashboard and its proprietary platform focuses on simplicity and fast execution, making it suitable for both short-term traders and long-term investors. 

Libertex Pros and Cons

The following table gives a structured overview of Libertex’s pros and cons.

What Is the CySEC Regulation?

The Cyprus Securities and Exchange Commission (CySEC) is the primary financial regulator overseeing forex and CFD brokers operating from Cyprus. As an EU authority, CySEC enforces MiFID II and ESMA rules, ensuring standardized investor protection across the European Economic Area.

CySEC regulation requires brokers to maintain minimum capital thresholds, segregate client funds, apply negative balance protection, and follow strict reporting and audit procedures. Regulated brokers must also comply with best execution policies, conflict of interest rules, and transparent pricing frameworks.

CySEC supervision allows licensed brokers to passport their services across EU member states, making Cyprus a strategic regulatory hub for European forex operations.

Important Factors for Choosing the Best Forex Brokers in Cyprus

Choosing a forex broker in Cyprus requires a structured review beyond pricing alone.

TradingFinder forex methodology evaluates CySEC regulated brokers using data driven criteria that focus on trader safety and execution quality.

• Regulation and Client Protection: including CySEC licensing, fund segregation, and investor compensation
• Trading Costs: such as spreads, commissions, and non trading fees
• Account Types and Market Coverage: across forex and CFD instruments
• Platforms and Execution: including MT4, MT5, cTrader, and liquidity access
• Deposits, Withdrawals, and Onboarding: efficiency and transparency
• Customer Support and Trust Signals: based on responsiveness and verified reviews

This methodology ensures Cyprus brokers are ranked on measurable factors that directly impact real trading conditions.

How Can I Verify a CySEC Regulated Forex Broker?

Verifying a CySEC regulated forex broker is a straightforward process that helps traders confirm regulatory legitimacy and avoid clone entities.

Steps to verify a broker:

1. Visit the official CySEC website
2. Access the “Regulated Entities” or CIF register section
3. Search by broker name or CIF license number
4. Confirm the legal entity name, license status, and authorized services
5. Cross-check the broker’s website domain with the registered entity

CySEC also publishes warnings for unlicensed or impersonating brokers, which provides an additional layer of due diligence for traders.

Is Forex Trading Legal in Cyprus?

Forex trading is fully legal in Cyprus and operates under a clear European regulatory framework. As an EU and EEA member state, Cyprus applies MiFID II rules to forex and CFD trading activities, with CySEC acting as the national supervisory authority.

Cyprus based brokers can legally offer services across Europe via passporting rights, while non-EU clients may also access CySEC brokers, subject to onboarding and compliance checks defined by each firm.

What is the Maximum Leverage Offered by CySEC Forex Brokers?

CySEC regulated forex brokers must comply with ESMA leverage limits for retail traders, which cap maximum leverage to reduce excessive risk exposure. CySEC structure for offering leverage:

Do CySEC Forex Brokers Offer Negative Balance Protection?

Negative balance protection is mandatory for all retail clients trading with CySEC regulated forex brokers. This rule ensures that traders cannot lose more than their deposited capital, even during extreme market volatility or gap events.

Professional clients, however, are not entitled to negative balance protection, as they are classified as experienced traders who accept higher risk exposure under EU regulatory definitions.

Taxation of CySEC Regulated Forex Brokers

Cyprus offers a highly favorable tax environment for CySEC regulated forex brokers, which plays a key role in its position as a European brokerage hub.

In addition, Cyprus provides various tax exemptions, double taxation treaties, and international agreements that help reduce overall tax burdens for resident brokerage firms.

This tax-efficient framework supports cross-border investment activity, encourages international entrepreneurship, and allows forex brokers to operate efficiently while remaining fully compliant with EU regulatory and reporting standards.

What Are the Requirements for Obtaining a CySEC Forex Brokerage License?

Forex brokerage licensing in Cyprus is regulated by the Cyprus Securities and Exchange Commission (CySEC), which defines strict authorization and governance standards for Cyprus Investment Firms.

Applicants must demonstrate operational transparency, financial stability, and robust internal controls before approval is granted.

Key documentation and structural requirements include:

• Core Application Documents: such as an organizational structure report, business plan, corporate procedures manual, AML and risk control manual, and a three-year financial forecast;
• Shareholder and Director Due Diligence: including questionnaires, criminal record certificates, and bankruptcy declarations for all shareholders and directors;
• Mandatory Key Appointments: requiring four directors including a managing director, as well as approved risk manager, compliance control manager, and internal and external auditors;
• Governance and Operational Framework: covering board composition, client protection procedures, risk management functions, activity monitoring mechanisms, customer identification processes, and client data security protocols.

Forex Trading in Cyprus Compared to Other European Countries

Forex trading in Cyprus operates under the same MiFID II and ESMA rules applied across Europe, ensuring consistent leverage limits, client fund protection, and negative balance protection.

Compared to countries like Germany and France, Cyprus offers a broader range of licensed brokers and more flexible market access. This balance between strict regulation and broker availability makes Cyprus one of the most popular Forex hubs in Europe.

Conclusion

Cyprus is a leading European hub for Forex and CFD trading, where CySEC enforces MiFID II under ESMA oversight. EU and EEA membership grants passporting rights to regulated brokers across Europe. Investor protection includes negative balance protection, strict capital adequacy, and Investor Compensation Fund ICF coverage up to €20,000.

Rankings typically compare brokers like IC Markets, FP Markets, Pepperstone, and XM using spreads, fees, platforms, liquidity, Trustpilot scores, execution, transparency

Broker rankings are determined by assessing multiple critical elements, including fees, regulatory status, and available account options, all defined within TradingFinder forex methodology.