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AuthorBy Jeffrey Cammack
Updated: May 6, 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.

The best CySEC regulated Forex brokers for 2022

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Broker
Overall Rating
Official Site
CySEC License
Min. Deposit
Max. Leverage (Forex)
Beginner Friendly
EUR/USD - Standard Spread
Cost of Trading
EUR/USD - Raw Spread
Total CFDs
Currency Pairs
Platforms
Website Language: English
Support Language: English
Compare
FXTM
4.33 /5
Read Review
Create Account >
Your capital is at risk
185/12USD 102000:1Excellent1.50 pipsUSD 150.00 pips79162MT4, MT5
XM
4.25 /5
Read Review
Create Account >
Your capital is at risk
120/10USD 5888:1Excellent1.60 pipsUSD 160.80 pips151057MT4, MT5
Tickmill
4.48 /5
Read Review
Create Account >
Your capital is at risk
278/15USD 100500:1Excellent0.00 pipsUSD 40.10 pips20762MT4, MT5
HFM (HotForex)
4.49 /5
Read Review
Create Account >
Your capital is at risk
183/12USD 51000:1Excellent1.00 pipsUSD 100.10 pips116953MT4, MT5
XTB
4.14 /5
Read Review
Create Account >
Your capital is at risk
169/12USD 5500:1Excellent1.40 pipsUSD 140.80 pips414848xStation5
FxPro
4.29 /5
Read Review
Create Account >
Your capital is at risk
078/07USD 100200:1Excellent1.40 pipsUSD 140.40 pips218170MT4, MT5, cTrader, FxProEdge
FP Markets
4.28 /5
Read Review
Create Account >
Your capital is at risk
371/18AUD 100500:1Excellent0.10 pipsUSD 70.10 pips1009960MT4, MT5, IRESS
easyMarkets
3.98 /5
Read Review
Create Account >
Your capital is at risk
079/07USD 25400:1Standard1.80 pipsUSD 180.70 pips216103MT4
BDSwiss
4.32 /5
Read Review
Create Account >
Your capital is at risk
199/13USD 10500:1Excellent1.50 pipsUSD 150.30 pips23450MT4, MT5
Fibo Group
3.50 /5
Read Review
Create Account >
Your capital is at risk
118/10USD 01000:1Standard0.60 pipsUSD 60.30 pips807948MT4, MT5, cTrader

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. 


FXTM – Best Broker for Beginners

FXTM is the best CySEC-regulated broker for beginner traders.  FXTM provides a world-class education section available for free in 22 languages, in addition to a comprehensive market research and analysis unit.  All materials are well-structured and in-depth and comprise several components, including various guides, e-books, articles on Forex trading strategies, educational videos, seminars, and webinars. 

FXTM also offers three account choices, including a Micro Account with instant execution, and two ECN accounts that execute orders directly to the market.  Spreads start at 1.5 pips (EUR/USD) on the Micro Account, which is wider than other similar brokers, but the minimum deposit requirement is only 50 USD.  Spreads tighten to 0 pips on its Advantage Account in exchange for a commission of 4 USD (round turn) and a minimum deposit requirement of 500 USD.  All accounts offer leverage of up to 1000:1, and traders can use both the MT4 and MT5 platforms. 

Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Copy trading accounts
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Minimum spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.

XM – Best Education

XM is a CySEC-regulated market maker broker with an excellent repository of educational and market analysis materials.  XM’s educational content focuses on instruction in video format, which is aimed at traders of all experience levels – beginner, intermediate, and advanced.  XM also provides daily interactive instruction via webinars that are available daily from 08.30 – 16.00 GMT, Monday to Friday. Topics range from the basics of Forex trading, to learning how to use multiple time frame techniques with real-time simulated trading conditions.  All webinars are hosted by industry expert analysts.

XM also offers competitive trading conditions on four live accounts.  Minimum deposits start at 5 USD on its entry-level account with a spread of 1.6 pips on the EUR/USD, which is wider than other market makers.  Trading costs improve on its Zero Account, with spreads as tight as 0 pips in exchange for a commission of 7 USD round turn.  All accounts offer a maximum leverage of up to 500:1. 

Pros
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
Cons
  • Dealing desk
  • Wide spreads on its entry-level accounts
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 888:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

TickMill – CySEC-Regulated Broker with the Lowest Trading Costs

CySEC-regulated since 2015, Tickmill has a long history of being a responsible broker with a focus on both experienced traders and serious beginners. Tickmill offers support for both MT4 and MT5 and while trading costs on its commission-free Classic Account are higher than the industry average, the Pro Account features dynamic spreads down to 0 pips and a 4 USD (round turn) commission – much lower most other brokers. Beginners will be happy with the low 100 USD minimum deposit on both accounts and will also appreciate the detailed market analysis and trading education on offer.

For experienced MT4 traders looking to switch brokers, Tickmill’s VIP Account has even lower trading costs, with commission down to 2 USD round turn – though this account is only available to traders with a minimum balance of 50,000 USD. Tickmill also offers an excellent range of MT4 trading tools, such as AutoChartist, Myfxbook and a subsidised VPS service.

Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 and MT5 platforms supported. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

Hotforex – Best Forex Analysis App

A CySEC-regulated ECN/STP broker, HF Markets offers trading on multiple assets including Forex, metals, energies, indices, and shares.  HF Markets offers full support for the MT4 and MT5 platforms in addition to numerous trading tools, including Autochartist, VPS services, Premium Trading Tools, and its proprietary HF App.  The HF App helps traders to understand the markets with trading tools and the latest news, updates, and financial analysis. 

The HF App’s analysis tools include Daily Market Analysis, which allows traders to stay on top of market events, a Trading Positions feature, which allows you to track how other traders are reacting to currency and commodity movements, and a Traders’ Board with information on currency movers and live charts of major pairs.  The HF App also allows traders to deposit and withdraw funds, apply technical indicators, copy trade, and create watchlists. 

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

XTB – Best Proprietary Platform

XTB is a CySEC-regulated STP broker that offers trading on multiple trading instruments, including Forex, indices, commodities, stock CFDs, and cryptocurrencies.  Following a recent decision to move away from MT4, XTB only offers support for its proprietary award-winning proprietary platform, xStation 5.  It offers many of the trading features found in MetaTrader4, introducing sentiment data directly into the platform, powerful charting tools, one-click trading, and real-time performance statistics. 

XTB only offers trading on a single commission-free market execution account with no minimum deposit requirements, leverage of up to 500:1, and spreads that start at 0.80 pips on the EUR/USD which is tighter than other STP brokers. 

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
AlertAccepts Malaysian Clients. Minimum spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. xStation5 platforms supported. XTB Group is regulated by CySEC, FSCA, DFSA, FCA and the IFSC.

FXPro – Best Execution

FxPro is a leading CySEC-regulated market maker broker with no dealing desk intervention.  With full support for the MT4, MT5, and cTrader platforms, FxPro provides low latency, fast execution on four account types.  Most trades are filled in under ten milliseconds, and trades are executed at one of FxPro’s Equinox Data Centres in either London or Amsterdam. 

At FxPro, each account type is associated with a different platform.  On the MT4 and MT5 accounts, spreads average at 1.84 pips and 1.65 pips on the EUR/USD, respectively which is higher than other similar brokers.  Spreads tighten significantly on the cTrader account, averaging at 0.31 pips on the EUR/USD in exchange for a commission of 9 USD round turn per lot traded.  FxPro also employs a dynamic leverage model which adapts according to the volume traded.

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

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 Malaysian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. FP Markets is regulated by CySEC and ASIC.

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 Malaysian Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & the proprietary easyMarkets platform are supported. easyMarkets is regulated by CySEC, ASIC, BVI FSC and the FSA in Seychelles.

BDSwiss – Best Market Research Provider

A CySEC regulated broker, BDSwiss offers trading on over 1000 assets, including Forex, stocks, commodities, shares, indices, ETFs, and cryptocurrencies.  It won Best Market Research Provider of 2020 for its 24/5 market coverage and leading financial commentary through daily and weekly previews, video briefs and special reports.  These materials are often published by global news agencies, and BDSwiss’ clients benefit from accurate and detailed analyses of movements on the markets.

BDSwiss offers full support for the MT4, MT5, and BDSwiss webtrader platforms on three live account types.  Spreads average at 1.5 pips (EUR/USD) on its commission-free entry-level account in exchange for a minimum deposit requirement of 100 USD.  Spreads tighten significantly on its Raw Account, averaging at 0.3 pips in exchange for a commission of 5 USD round turn per lot traded.  All accounts benefit from fast execution speeds, with 97.5% of all trades executed in less than 0.2 seconds.  

Pros
  • Tight spreads
  • Good for beginners
  • Wide range of assets
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.

Fibo Group – Best PAMM Accounts

Founded in 1998 in Cyprus, Fibo Group is regulated by CySEC.  With a broad platform choice, including MT4, MT5, and cTrader, Fibo Group offers a wide range of account types with varying trading conditions.  Fibo Group stands out for its sophisticated copy trading and award-winning PAMM accounts for those wishing to subscribe to the trades of more experienced traders. 

PAMM is a variation of asset management wherein a manager uses the funds of multiple investors to trade.  The remuneration for the manager depends on the successful management and volume of the trades, and investors are afforded an opportunity to earn an income without being an expert on Forex or CFDs.  All profits and losses are distributed between the participants in proportion to the funds invested. 

Pros
  • Great platform choice
  • Low minimum deposit
Cons
  • Limited education
AlertAccepts Malaysian 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 1000:1. Islamic account available. MT4, MT5 & cTrader platforms supported. FIBO Group is regulated by CySEC and BVI FSC.

Why Trade with a CySEC Regulated Forex Broker?

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.

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.

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. 

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Broker
Overall Rating
CySEC Licence
Regulators
Beginner Friendly
Min. Deposit
Max. Leverage (Forex)
Islamic Account
Cost of Trading
Fees
Total # CFDs
No. of FX Pairs
Crypto Pairs
Platforms
Compare
Capital.com
4.68 /5
Read Review
319/17FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersExcellentUSD 20100:1 USD 6Fees Included in Spread4284137477Capital.com, MT4
Pepperstone
4.61 /5
Read Review
388/20FCA Regulated BrokersASIC BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityExcellentUSD 0200:1 USD 6From 7 USD / lot - Razor Account07019MT4, MT5, cTrader
Markets.com
4.49 /5
Read Review
092/08FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionExcellentUSD 100300:1 USD 7Fees Included in Spread22066725MT4, MT5
HFM (HotForex)
4.49 /5
Read Review
183/12CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services CommissionThe Seychelles Financial Services AuthorityExcellentUSD 51000:1 USD 106 USD / lot - Zero Account11695319MT4, MT5
Tickmill
4.48 /5
Read Review
278/15CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityExcellentUSD 100500:1 USD 44 USD / lot207628MT4, MT5
AvaTrade
4.48 /5
Read Review
347/17ASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCySEC Regulated BrokersCentral Bank of IrelandExcellentUSD 100400:1 USD 9Fees Included in Spread8725520MT4, MT5, Avatrade Social, AvaOptions
IC Markets
4.46 /5
Read Review
362/18CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityExcellentUSD 200500:1 USD 87 USD / lot - Raw Spread Account17446418MT4, MT5, cTrader, Zulu Trade
Admirals
4.34 /5
Read Review
201/13ASIC BrokersCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityExcellentUSD 25500:1 USD 81.8 - 3 USD per lot38305042MT4, MT5, MT Supreme
FXTM
4.33 /5
Read Review
185/12CySEC Regulated BrokersFCA Regulated BrokersFinancial Services CommissionExcellentUSD 102000:1 USD 15From 4 USD / ECN Accounts791620MT4, MT5
BDSwiss
4.32 /5
Read Review
199/13CySEC Regulated BrokersFinancial Services CommissionThe Seychelles Financial Services AuthorityExcellentUSD 10500:1 USD 155 USD / lot - RAW account2345027MT4, MT5
FxPro
4.29 /5
Read Review
078/07FCA Regulated BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthoritySecurities Commission of the BahamasExcellentUSD 100200:1 USD 149 USD / lot21817030MT4, MT5, cTrader, FxProEdge
FP Markets
4.28 /5
Read Review
371/18ASIC BrokersCySEC Regulated BrokersExcellentAUD 100500:1 USD 76 USD / lot - RAW Accounts100996011MT4, MT5, IRESS
XM
4.25 /5
Read Review
120/10CySEC Regulated BrokersASIC BrokersFCA Regulated BrokersInternational Financial Services CommissionExcellentUSD 5888:1 USD 167 USD / lot - XM Zero Account15105731MT4, MT5
FXCM
4.24 /5
Read Review
392/20FCA Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersBermuda Monetary AuthorityStandardUSD 50400:1 USD 13None306457MT4, TradeStation
FBS
4.23 /5
Read Review
331/17CySEC Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityInternational Financial Services CommissionExcellentUSD 13000:1 USD 76 USD / lot - ECN Account25437100MT4, MT5
Skilling
4.23 /5
Read Review
357/18CySEC Regulated BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtThe Seychelles Financial Services AuthorityExcellentEUR 100500:1 USD 86 USD round turn commission8077310MT4, cTrader, Skilling Trader
ThinkMarkets
4.18 /5
Read Review
629628Financial Services Conduct AuthorityFCA Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityCySEC Regulated BrokersFinancial Services AgencyExcellentUSD 0500:1 USD 127 USD / lot - ThinkZero Account18084621MT4, MT5, ThinkTrader
Fondex
4.14 /5
Read Review
138/11CySEC Regulated BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtThe Seychelles Financial Services AuthorityStandardUSD 1500:1 USD 7.80None10338011cTrader
XTB
4.14 /5
Read Review
169/12CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityInternational Financial Services CommissionExcellentUSD 5500:1 USD 14Fees Included in Spread41484814xStation5
FxPrimus
4.11 /5
Read Review
261/14CySEC Regulated BrokersVanuatuStandardUSD 151000:1 USD 158 - 10 USD / lot - PRO Account181434MT4, MT5, cTrader
Go Markets
4.10 /5
Read Review
322/17ASIC BrokersCySEC Regulated BrokersFinancial Services AgencyFinancial Services CommissionStandardAUD 200500:1 USD 106 USD / lot - GoPlus+575495MT4, MT5
Plus500
4.09 /5
Read Review
250/14FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersMonetary Authority of SingaporeFinancial Markets Authority of New ZealandStandardUSD 100300:1 USD 8Fees Included in Spread26387018Plus500
HYCM
4.08 /5
Read Review
259/14CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtStandardUSD 100200:1 USD 128 USD / lot - Raw Account2877021MT4, MT5
ETX Capital
4.07 /5
Read Review
096/08FCA Regulated BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersStandardGBP 10030:1 USD 6Fees Included in Spread5135623MT4, ETX
easyMarkets
3.98 /5
Read Review
079/07CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityStandardUSD 25400:1 USD 18Fees Included in Spread21610317MT4
FXCC
3.84 /5
Read Review
121/10CySEC Regulated BrokersStandardUSD 0500:1 USD 6None98718MT4
Errante
3.83 /5
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383/20CySEC Regulated BrokersThe Seychelles Financial Services AuthorityStandardUSD 50500:1 USD 15Fees Included in Spread1515014MT4, MT5
IronFX
3.74 /5
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25/10CySEC Regulated BrokersFCA Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityStandardUSD 501000:1 USD 22On select STP/ECN Accounts290835MT4
Trade360
3.70 /5
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202/13CySEC Regulated BrokersASIC BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtStandardUSD 250400:1 USD 40Fees Included in Spread602480MT5, Sirix
eToro
3.69 /5
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109/10CySEC Regulated BrokersFCA Regulated BrokersASIC BrokersStandardUSD 200400:1 USD 10Fees Included in Spread34366096etoro
TrioMarkets
3.64 /5
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268/15CySEC Regulated BrokersFinancial Services CommissionStandardUSD 250500:1 USD 24Fees Included in Spread144634MT4
UFX
3.60 /5
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127/10CySEC Regulated BrokersStandardUSD 10030:1 USD 2050500MT5
NordFX
3.53 /5
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209/13CySEC Regulated BrokersVanuatuStandardUSD 101000:1 USD 200,007% / Trade - Zero Account443311MT4
Fibo Group
3.50 /5
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118/10CySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinansinspektionenBritish Virgin Islands Financial Services CommissionFinancial Services CommissionStandardUSD 01000:1 USD 66 USD / lot8079489MT4, MT5, cTrader
LegacyFX
3.49 /5
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344/17CySEC Regulated BrokersVanuatuStandardUSD 500200:1 USD 16Fees Included in Spread45414MT5, WebTrader
Trade.com
3.42 /5
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227/14CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityStandardUSD 100300:1 USD 19Fees Included in Spread22155512MT4, MT5, Sirix
IQ Option
2.74 /5
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247/14CySEC Regulated BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtStandardUSD 101000:1 USD 8Fees Included in Spread2633312IQ option

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 Malaysian 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 a Malaysian 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

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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.

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