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
None
EUR/USD
0.0 pips
Max Leverage
Up to 1:30
BaFin
CySEC
FCAPepperstone serves EU clients through its CySEC-regulated entity (part of a group also licensed by BaFin, the FCA and ASIC), offering razor-sharp spreads, zero minimum deposit, and excellent execution across MT4, MT5, cTrader, and TradingView.
73.7% of retail CFD accounts lose money.
Min Deposit
$5
EUR/USD
0.6 pips
Max Leverage
Up to 1:30
IFSCXM is ideal for beginner EU traders, offering a $5 minimum deposit, award-winning education, multilingual support in 30+ languages, and CySEC regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
$50
EUR/USD
1.0 pips
Max Leverage
Up to 1:30
eToro is the world's leading social trading platform, letting EU traders copy successful investors while also offering commission-free stock trading alongside forex.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
None
EUR/USD
From 0.1 pips
Max Leverage
Up to 1:30
XTB is a publicly listed European broker (WSE: XTB) regulated by KNF, FCA and CySEC, offering commission-free stock investing and competitive forex spreads via its proprietary xStation 5 platform.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
€100
EUR/USD
From 0.8 pips
Max Leverage
Up to 1:30
Plus500 is a London Stock Exchange-listed broker offering CFD-only trading through its proprietary Plus500 Platform. No commissions & tight spreads; additional fees may apply. CFDs are complex financial products and come with a high risk of losing money rapidly due to leverage.
80% of retail CFD accounts lose money.
Min Deposit
$100
EUR/USD
0.0 pips
Max Leverage
Up to 1:30
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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
$10
EUR/USD
0.0 pips
Max Leverage
Up to 1:30
FSAExness is a high-volume global broker with ultra-tight pricing and instant withdrawals. Holds CySEC and FCA licences but closed EU/EEA/UK retail onboarding in 2019 — available to non-EU residents only.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
€100
EUR/USD
0.0 pips
Max Leverage
Up to 1:30
Tickmill offers competitive raw spread commissions ($3/lot/side), dual CySEC+FCA regulation, and solid execution for serious EU forex traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
None
EUR/USD
0.0 pips
Max Leverage
Up to 1:2000
Equiti is a multi-jurisdiction broker (FCA, CySEC, UAE SCA, Seychelles FSA) offering MT4, MT5 and proprietary EQTrader, with a Premier account delivering 0.0-pip raw spreads for active traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
€25
EUR/USD
0.0 pips
Max Leverage
Up to 1:30
Admirals (formerly Admiral Markets) is an EU-headquartered broker based in Tallinn, offering MetaTrader with Supreme Edition tools, real stock investing, and CySEC + FCA dual regulation.
72% of retail CFD accounts lose money.
Min Deposit
€20
EUR/USD
0.6 pips average
Max Leverage
Up to 1:30
CMA
SCBCapital.com is an AI-driven broker offering 5,000+ commission-free CFD instruments, an award-winning app, and FCA/CySEC regulation for EU traders.
89% of retail investor accounts lose money.
Min Deposit
$100
EUR/USD
0.0 pips
Max Leverage
Up to 1:30
FSCAFxPro is a CySEC/FCA-regulated broker established in 2006, offering MT4, MT5, cTrader, and its own platform with ECN pricing on Raw+ accounts.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
$100
EUR/USD
0.0 pips
Max Leverage
Up to 1:30
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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
€1
EUR/USD
0.9 pips average
Max Leverage
Up to 1:30
Trading 212 is a FCA and CySEC regulated broker offering zero-commission real stock investing, CFDs, and an award-winning mobile app with a EUR 1 minimum deposit.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
€100
EUR/USD
0.9 pips typical
Max Leverage
Up to 1:30
AvaTrade is a Central Bank of Ireland and CySEC regulated multi-asset broker offering MT4, MT5, AvaOptions, social trading, and a strong EU marketing presence since 2006.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
$200
EUR/USD
0.0 pips
Max Leverage
Up to 1:30
IC Markets is an ASIC and CySEC-regulated true ECN broker offering one of the deepest cTrader integrations in the industry, with average EUR/USD spreads of 0.02 pips on Raw Spread.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.