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Trading forex (currencies) internationally is popular among traders. Before any fx broker in Cyprus can accept forex and CFD traders as clients, they must become authorised by theCyprus Securities and Exchange Commission (CySEC), which is the financial regulatory body in Cyprus. CySECs website iscysec.gov.cy. We recommend Cypriot residents also follow CySEC on twitter,@CySEC_official.
CySEC was formed in 2001, and in 2004 the country became a member of the European Union (EU), which made CySEC part of MiFID regulation. For a historical breakdown, heres a link to the Cyprus Securities & Exchange Commissions webpage onWikipedia.
To find the best forex broker in Cyprus, we created a list of all CySEC authorised brokers, then ranked brokers by their2019 Overall Ranking. Here is our list of the top forex brokers for Cyprus.
Compare Cypriot authorised forex and CFDs brokers side by side using theforex broker comparison toolor the summary table below. This broker list is sorted by the firms m Trust Score.
To identify if a forex broker is regulated as a Cypriot Investment Firm (CIF) by CySEC, the first step is to identify the register number from the disclosure text at the bottom of the brokers homepage. For example, heres the key disclosure text from FxPros website,
FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence no. 078/07) .
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.Learn more.
About the author:Steven HatzakisSteven Hatzakis is the Global Director of Research for . Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The m staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
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