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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 2021 according to our testing and our research.

  • FXTM - Best Broker for Beginners
  • XM - Best Education
  • Tickmill - CySEC-Regulated Broker with the Lowest Trading Costs
  • HotForex - Best Forex Analysis App
  • XTB - Best Proprietary Platform
  • FxPro - Best Execution
  • FP Markets - Best MetaTrader Execution
  • easyMarkets - Best Risk Management Tools
  • BDSwiss - Best Market Research Provider
  • Fibo Group - Best PAMM Accounts

The best CySEC regulated Forex brokers for 2021

Scroll for more detailsPreviousNext
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
185/12
USD 10
2000:1
Excellent
1.50 pips
USD 15
0.00 pips
795
62
XM
4.25 /5
Read Review
Create Account >
Your capital is at risk
120/10
USD 5
888:1
Excellent
1.60 pips
USD 16
0.80 pips
1477
57
Tickmill
4.48 /5
Read Review
Create Account >
Your capital is at risk
278/15
USD 100
500:1
Excellent
0.00 pips
USD 4
0.10 pips
91
62
HotForex
4.49 /5
Read Review
Create Account >
Your capital is at risk
183/12
USD 5
1000:1
Excellent
1.00 pips
USD 10
0.10 pips
1150
53
XTB
4.14 /5
Read Review
Create Account >
Your capital is at risk
169/12
USD 5
500:1
Excellent
1.40 pips
USD 14
1.40 pips
2045
48
xStation5
FxPro
4.29 /5
Read Review
Create Account >
Your capital is at risk
078/07
USD 100
200:1
Excellent
1.40 pips
USD 14
1.80 pips
255
70
FxProEdge
FP Markets
4.28 /5
Read Review
Create Account >
Your capital is at risk
371/18
USD 100
500:1
Excellent
0.10 pips
USD 7
0.10 pips
10084
60
IRESS
easyMarkets
3.98 /5
Read Review
Create Account >
Your capital is at risk
079/07
USD 25
400:1
Standard
2.00 pips
USD 20
0.90 pips
211
103
BDSwiss
4.32 /5
Read Review
Create Account >
Your capital is at risk
199/13
USD 100
500:1
Excellent
1.50 pips
USD 15
0.30 pips
233
50
Fibo Group
3.50 /5
Read Review
Create Account >
Your capital is at risk
118/10
USD 0
1000:1
Standard
0.60 pips
USD 6
0.20 pips
8079
48

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
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
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
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
  • Wide range of assets
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 platform support. 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 2.00 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. 

Scroll for more detailsPreviousNext
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
319/17
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Brokers
Excellent
USD 20
100:1
USD 6
Fees Included in Spread
4027
137
220
Capital.com
Pepperstone
4.61 /5
Read Review
388/20
FCA Regulated Brokers
ASIC Brokers
CySEC Regulated Brokers
Dubai Financial Services Authority
Excellent
USD 5
200:1
USD 6.90
From 7 USD / lot - Razor Account
1019
60
5
Markets.com
4.49 /5
Read Review
092/08
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Brokers
Financial Services Conduct Authority
Excellent
USD 100
300:1
USD 7
Fees Included in Spread
2235
67
6
HotForex
4.49 /5
Read Review
183/12
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Conduct Authority
Dubai Financial Services Authority
Financial Services Commission
Excellent
USD 5
1000:1
USD 10
6 USD / lot - Zero Account
1150
53
4
Tickmill
4.48 /5
Read Review
278/15
CySEC Regulated Brokers
FCA Regulated Brokers
Labuan Financial Services Authority
Financial Services Conduct Authority
The Seychelles Financial Services Authority
Excellent
USD 100
500:1
USD 4
4 USD / lot - Pro Account
91
62
3
AvaTrade
4.48 /5
Read Review
347/17
ASIC Brokers
Financial Services Conduct Authority
British Virgin Islands Financial Services Commission
Financial Services Agency
CySEC Regulated Brokers
Central Bank of Ireland
Excellent
USD 100
400:1
USD 9
Fees Included in Spread
857
55
18
Avatrade Social
AvaOptions
IC Markets
4.46 /5
Read Review
362/18
CySEC Regulated Brokers
ASIC Brokers
The Seychelles Financial Services Authority
Excellent
USD 200
500:1
USD 8
7 USD / lot - Raw Spread Account
1723
64
10
Zulu Trade
FXTM
4.33 /5
Read Review
185/12
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Commission
Excellent
USD 10
2000:1
USD 15
From 4 USD / ECN Accounts
795
62
3
BDSwiss
4.32 /5
Read Review
199/13
CySEC Regulated Brokers
Financial Services Commission
The Seychelles Financial Services Authority
Excellent
USD 100
500:1
USD 15
5 USD / lot - RAW account
233
50
26
FxPro
4.29 /5
Read Review
078/07
FCA Regulated Brokers
CySEC Regulated Brokers
Financial Services Conduct Authority
Dubai Financial Services Authority
Securities Commission of the Bahamas
Excellent
USD 100
200:1
USD 14
9 USD / lot
255
70
5
FxProEdge
FP Markets
4.28 /5
Read Review
371/18
ASIC Brokers
CySEC Regulated Brokers
Excellent
USD 100
500:1
USD 7
6 USD / lot - RAW Accounts
10084
60
5
IRESS
XM
4.25 /5
Read Review
120/10
CySEC Regulated Brokers
ASIC Brokers
FCA Regulated Brokers
International Financial Services Commission
Excellent
USD 5
888:1
USD 16
7 USD / lot - XM Zero Account
1477
57
0
Admirals
4.24 /5
Read Review
201/13
ASIC Brokers
CySEC Regulated Brokers
FCA Regulated Brokers
Excellent
USD 25
500:1
USD 5
1.8 - 3 USD per lot
3818
50
32
MT Supreme
FXCM
4.24 /5
Read Review
392/20
FCA Regulated Brokers
ASIC Brokers
Financial Services Conduct Authority
CySEC Regulated Brokers
Bermuda Monetary Authority
Standard
USD 50
400:1
USD 13
None
306
45
5
TradeStation
FBS
4.23 /5
Read Review
331/17
CySEC Regulated Brokers
ASIC Brokers
Financial Services Conduct Authority
International Financial Services Commission
Excellent
USD 1
3000:1
USD 7
6 USD / lot - ECN Account
189
37
0
Skilling
4.23 /5
Read Review
357/18
CySEC Regulated Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
The Seychelles Financial Services Authority
Excellent
USD 100
500:1
USD 8
Fees Included in Spread
807
73
5
Fondex
4.14 /5
Read Review
138/11
CySEC Regulated Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
The Seychelles Financial Services Authority
Standard
USD 1
500:1
USD 7.80
None
1033
80
11
XTB
4.14 /5
Read Review
169/12
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
International Financial Services Commission
Excellent
USD 5
500:1
USD 14
Fees Included in Spread
2045
48
16
xStation5
Go Markets
4.10 /5
Read Review
322/17
ASIC Brokers
CySEC Regulated Brokers
Financial Services Agency
Financial Services Commission
Standard
AUD 200
500:1
USD 10
6 USD / lot - GoPlus+
570
49
5
Plus500
4.09 /5
Read Review
250/14
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Brokers
Monetary Authority of Singapore
Financial Markets Authority of New Zealand
Standard
USD 100
300:1
USD 8
Fees Included in Spread
2638
70
9
Plus500
HYCM
4.08 /5
Read Review
259/14
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
Standard
USD 100
200:1
USD 12
8 USD / lot - Raw Account
287
70
5
ETX Capital
4.07 /5
Read Review
096/08
FCA Regulated Brokers
Financial Services Conduct Authority
CySEC Regulated Brokers
Standard
GBP 100
300:1
USD 6
Fees Included in Spread
5135
62
5
ETX
easyMarkets
3.98 /5
Read Review
079/07
CySEC Regulated Brokers
ASIC Brokers
The Seychelles Financial Services Authority
Standard
USD 25
400:1
USD 20
Fees Included in Spread
211
103
12
FXCC
3.84 /5
Read Review
121/10
CySEC Regulated Brokers
Standard
USD 0
500:1
USD 6
None
98
71
0
Errante
3.83 /5
Read Review
383/20
CySEC Regulated Brokers
The Seychelles Financial Services Authority
Standard
USD 50
500:1
USD 15
Fees Included in Spread
148
50
5
NAGA
3.78 /5
Read Review
204/13
CySEC Regulated Brokers
Standard
USD 250
1000:1
USD 17
Fees Included in Spread
524
47
19
NAGA Web App
IronFX
3.74 /5
Read Review
25/10
CySEC Regulated Brokers
FCA Regulated Brokers
ASIC Brokers
Financial Services Conduct Authority
Standard
USD 50
1000:1
USD 11
From USD 13.5 / lot - Zero Accounts
285
83
5
Trade360
3.70 /5
Read Review
202/13
CySEC Regulated Brokers
ASIC Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
Standard
USD 250
400:1
USD 40
Fees Included in Spread
602
48
0
Sirix
eToro
3.69 /5
Read Review
109/10
CySEC Regulated Brokers
FCA Regulated Brokers
ASIC Brokers
Standard
USD 200
400:1
USD 10
Fees Included in Spread
2454
60
16
etoro
TrioMarkets
3.64 /5
Read Review
268/15
CySEC Regulated Brokers
Financial Services Commission
Standard
USD 500
500:1
USD 24
Fees Included in Spread
144
63
4
Sirix
UFX
3.60 /5
Read Review
127/10
CySEC Regulated Brokers
Standard
USD 100
30:1
USD 20
50
50
0
NordFX
3.53 /5
Read Review
209/13
CySEC Regulated Brokers
Vanuatu
Standard
USD 10
1000:1
USD 20
0,007% / Trade - Zero Account
33
33
11
Fibo Group
3.50 /5
Read Review
118/10
CySEC Regulated Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Finansinspektionen
British Virgin Islands Financial Services Commission
Financial Services Commission
Standard
USD 0
1000:1
USD 6
6 USD / lot
8079
48
9
FxPrimus
3.49 /5
Read Review
261/14
CySEC Regulated Brokers
Financial Services Conduct Authority
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
Vanuatu
Poor
USD 100
1000:1
USD 15
10 USD / lot - ECN Account
183
43
7
LegacyFX
3.49 /5
Read Review
344/17
CySEC Regulated Brokers
Vanuatu
Standard
USD 500
200:1
USD 16
Fees Included in Spread
41
41
4
WebTrader
Trade.com
3.42 /5
Read Review
227/14
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Conduct Authority
Standard
USD 100
300:1
USD 19
Fees Included in Spread
2215
55
4
Sirix
InstaForex
3.32 /5
Read Review
266/15
CySEC Regulated Brokers
British Virgin Islands Financial Services Commission
Standard
USD 150
1000:1
USD 30
Commission is 0.03% - 0.07%
296
110
11
IQ Option
3.13 /5
Read Review
247/14
CySEC Regulated Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
Poor
USD 10
1000:1
USD 7
Fees Included in Spread
235
25
12
IQ 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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