CySEC
Cyprus Securities and Exchange Commission
Cyprus · Established 2001 · https://www.cysec.gov.cy
About CySEC
CySEC (Cyprus Securities and Exchange Commission) is the financial regulatory authority of Cyprus and the single most popular regulatory jurisdiction for forex and CFD brokers operating in the European Union.
As an EU member state, Cyprus benefits from MiFID II passporting rights, which means a CySEC-regulated broker can legally offer services to clients in all 27 EU member states without needing separate licenses in each country. This makes CySEC the gateway regulator for brokers wanting to access the European market.
CySEC enforces all ESMA (European Securities and Markets Authority) requirements, including leverage caps for retail traders, mandatory negative balance protection, standardized risk warnings, and restrictions on marketing incentives like bonuses.
The Investor Compensation Fund (ICF) provides an additional safety net. If a CySEC-regulated broker becomes insolvent, eligible clients can claim compensation of up to EUR 20,000 per person. This covers both deposited cash and the value of financial instruments held.
CySEC has significantly strengthened its enforcement in recent years, revoking licenses of non-compliant firms and imposing substantial fines. The regulator conducts regular on-site inspections and requires quarterly financial reporting from all regulated entities.
For EU traders, choosing a CySEC-regulated broker ensures access to the full suite of ESMA protections while benefiting from Cyprus's established financial services infrastructure.
Key Features
- MiFID II compliant - brokers can operate across the entire EU
- Investor Compensation Fund (ICF) covers up to EUR 20,000
- Requires segregation of client funds
- Mandatory negative balance protection for retail clients
- Regular audits and financial reporting requirements
- Strict marketing and disclosure rules
Leverage Limits
CySEC enforces ESMA leverage caps for all retail clients.
| Instrument | Max Leverage |
|---|---|
| Major FX Pairs | 30:1 |
| Minor FX Pairs | 20:1 |
| Major Indices | 20:1 |
| Commodities (excl. Gold) | 10:1 |
| Gold | 20:1 |
| Individual Equities | 5:1 |
| Cryptocurrencies | 2:1 |
Investor Protection
The Investor Compensation Fund (ICF) covers eligible clients up to EUR 20,000 per person if a CySEC-regulated firm becomes insolvent. This covers both cash and financial instruments held by the firm.
How to File a Complaint
Complaints should first be directed to the broker. If unresolved, clients can file a complaint with CySEC through the Financial Ombudsman of the Republic of Cyprus.
Brokers Regulated by CySEC
These brokers hold a license from CySEC and serve EU clients under its regulatory oversight.
Min Deposit
$200
EUR/USD
0.0 pips
Max Leverage
30:1
IC Markets is a leading ECN broker known for ultra-tight spreads and fast execution, making it a top choice for scalpers and algorithmic traders in the EU.
Min Deposit
None
EUR/USD
0.0 pips
Max Leverage
30:1
Pepperstone is a BaFin-regulated broker offering razor-sharp spreads, zero minimum deposit, and excellent execution across MT4, MT5, cTrader, and TradingView.
Min Deposit
$5
EUR/USD
0.6 pips
Max Leverage
30:1
XM is ideal for beginner EU traders, offering a $5 minimum deposit, award-winning education, multilingual support in 30+ languages, and CySEC regulation.
Min Deposit
$50
EUR/USD
1.0 pips
Max Leverage
30:1
eToro is the world's leading social trading platform, letting EU traders copy successful investors while also offering commission-free stock trading alongside forex.
Min Deposit
€100
EUR/USD
0.8 pips typical
Max Leverage
30:1
Plus500 is a publicly listed broker focused on simplicity, offering CFD trading with no commissions and an easy-to-use proprietary platform for casual EU traders.
Min Deposit
$100
EUR/USD
0.0 pips
Max Leverage
30:1
Forex.com, owned by NASDAQ-listed StoneX Group, offers competitive raw pricing from 0.0 pips, CySEC regulation, and a solid all-round trading experience.
Min Deposit
$10
EUR/USD
0.0 pips
Max Leverage
30:1
Exness is a CySEC-regulated broker with ultra-tight pricing, instant withdrawals, and one of the highest monthly trading volumes in the industry ($4T+).
Min Deposit
$50
EUR/USD
0.0 pips
Max Leverage
30:1
FP Markets combines ECN-style raw pricing ($3/lot commission) with cTrader availability and CySEC regulation, ideal for cost-conscious EU traders.
Min Deposit
€100
EUR/USD
0.0 pips
Max Leverage
30:1
Tickmill offers the lowest raw spread commissions in the industry ($2/lot/side), dual CySEC+FCA regulation, and solid execution for serious EU forex traders.
Min Deposit
€25
EUR/USD
0.0 pips
Max Leverage
30:1
Admirals (formerly Admiral Markets) is an EU-headquartered broker from Estonia, offering MetaTrader with Supreme Edition tools, real stock investing, and triple regulation.
Min Deposit
None
EUR/USD
0.1 pips
Max Leverage
30:1
XTB is a publicly listed Polish broker with an award-winning xStation platform, commission-free stock investing, and some of the best educational content in Europe.
Min Deposit
€20
EUR/USD
0.6 pips average
Max Leverage
30:1
Capital.com is an AI-driven broker offering 3,000+ commission-free instruments, an award-winning app, and FCA/CySEC regulation for EU traders.
Min Deposit
$100
EUR/USD
0.0 pips
Max Leverage
30:1
FxPro is a CySEC/FCA-regulated broker established in 2006, offering MT4, MT5, cTrader, and its own platform with ECN pricing on Raw+ accounts.
Min Deposit
$100
EUR/USD
0.0 pips
Max Leverage
30:1
Eightcap is a triple-regulated broker (ASIC/FCA/CySEC) offering raw spreads from 0.0 pips, TradingView integration, and one of the largest crypto CFD selections.