Cyprus Forex Brokers (2024)

Cyprus Forex brokers reviews and comparison by “ForexSQ.com” experts, We provide a list of top Forex companies in Cyprus for those foreign exchange traders looking for theTop Forex companies in Limassol list or Forex Nicosia brokers to open online currency trading account. We list top Forex industry Cyprus broker’s with MT4 trading platform if you are looking for the Top 10 Forex Brokers Cyprus list with Metatrader 4 online trading platform.

Top Ten Forex Brokers in Cyprus

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  • FxPro – Originated in 2006, London-based FxPro is an online broker providing Forex trading along with CFD’s. Mt4 and trader trading platforms are available. Fxpro Forex broker is one of theTop Forex Brokers in Cyprus.
  • Plus500 – The Plus500 broker was established in 2008 as an online international trading platform that is popularly used in Cyprus, Europe and Australia and elsewhere in the world.
  • eToro – The eToro company is a social trading and multi asset brokerage company in Cyprus that has registered offices in Limassol, Israel and the United Kingdom.
  • Markets.com – The Markets.com maintains its headquarters in Cyprus, UK andis an investment services firm that is operated by Safecap Investments Limited (Safecap), which was founded in 2006 and is a subsidiary ofPlaytecPLC.
  • XM – The XM.com forex brokerwas established in 2009 in the Republic of Cyprus using the nameTrading Point of Financial Instruments Ltd. The broker is regulated by CySEC as well as the UK’s Financial Services Authority (FSA).
  • FOREX.com – Forex.com is owned by parent company GAIN Capital (NYSE:GCAP). Operating since 2001, it was a first mover in getting currency markets to the selling trader.
  • FXCM – provides a no dealing desk model along with competitive spreads. FXCM brokerage provides trading in a wide variety of currencies including the Chinese Yuan.
  • AvaTrade – The AvaTrade company was founded in 2006 in Dublin, Ireland and is licensed and fully regulated in the EU and BVI, as well as Australia, Japan and South Africa.
  • HYCM – In trade for 30 years, HYCM offers several trading platforms and a wide variety of trading instruments. HYCM forex broker is one of the Top Cyprus Forex Brokers, It is a division of the Henyep Group, a global corporation with a presence in 20 countries.
  • Fxstay – foreign exchange Company provides professional managed forex accounts service in Cyprus with competitive management fees, their specialty is trading on big investment safely. You dont need to know foreign exchange trading with them as their team handle trading or you.

Cyprus Forex Brokers With MT4 Platform

Metatrader 4 or MT4 is the most popular Forex trading platforms in the whole world. Spread betting firmsthat offers MT4 give customers the capacity to upload and purchase custom indicators, then run automated trading strategies based on pre-set technical perimeters. Dealers can also follow “Professional Advisors” and trade based on recognisedFX policies without the need to physically execute trades.

MetaTrader 4 also offers FX traders with around 400:1 margin, mullet chart capability, micro lot (small per point size), hedging tools, a mobile platform and “One Click Trading” There are only some spread betting brokers that provides access toMT4.

Top Cyprus Forex Companies Offering Spread Betting

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IG Group

IG Group are the most recognized spread betting brokers. As well as their own platform, customers can trade FX, Index and supplies through MT4. They also have a very nice welcome bonus for new customers. New customers can get a minimum deposit bonus of up to £3,750. It is one of the unique and biggest spread betting brokers. Itcan also offer access to the markets through MT4 as well as their own online platform.

Invented in 1974 as a spread betting business under the name IG Index broker. The company provides trading in sets including EUR/USD, AUD/USD, and USD/JPY with spreads as low as 0.8 pips. IG group are one of the largest Top 10Cyprus Forex Brokers. Customers mostly trade through their own well recognized platform. Though, as MT4 is such a popular choice for FX traders recently IG Markets launched an MT4 option.

CMC Markets

CMC Markets was founded in the UK in 1989 andlisted on the London Stock Exchange (LSE) in 2016. Almost thirtyyears of experience trading in financial markets has created a loyal following of traderswhoregularly usethis award winningplatform for investing their money in variousinternational financial marketplaces.

ETX Capital

ETX Capital is a broker that was established in 2002 and is headquartered in London, England. The broker also provides financial spread betting for Cyprus traders.

City Index

Recognized in the UK in 1983, City Index provides Forex trading, CFD’s and spread betting. The MT4 platform is offered with added tools and features. CityIndex is one of the unique and biggest spread betting brokers. City Indexcan offer access to the markets through MT4 as well as their own online platform.

If you get a deposit bonus, you are more possible to have troubles withdrawing. The difficulty with withdrawing doesn’t necessarily indicate there is anything wrong with the broker, in fact the terms and conditions of the bonus were possibly misunderstood. To avoid difficulties, avoid deposit bonuses.

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Cyprus Forex Brokers (2024)

FAQs

Why are most forex brokers in Cyprus? ›

Favorable Taxation and Incentives:

The country offers a low corporate tax rate of 12.5%, making it one of the most competitive tax environments in Europe. Additionally, the absence of capital gains tax on profits from trading foreign exchange further incentivizes Forex companies to set up operations in Cyprus.

Is forex trading legal in Cyprus? ›

Forex trading has long been popular in Cyprus since it was one of the first countries to legalize and create an infrastructure to support it. Despite its accumulated experience and well-developed infrastructure, Cyprus remains a popular and reputable forex trading jurisdiction.

Why don't forex brokers accept US clients? ›

Over the last decades, the forex market in the US has emerged as one of the most regulated markets anywhere in the world. Rules that were introduced and backed up by Federal laws have made it very difficult for brokers and traders alike to operate in the US forex market.

Which country has the most forex brokers? ›

United States (335,000 Traders)

The regulatory environment, overseen by organisations like the CFTC and NFA, ensures a secure trading platform for a diverse array of traders. The U.S. dollar's dominance in global finance further amplifies the country's role in the Forex market.

Do forex traders pay tax in Cyprus? ›

Cyprus: Cyprus has a relatively favorable tax system for forex traders. It offers a "non-domiciled" regime where residents can benefit from a 0% tax rate on foreign-sourced income, including capital gains from forex trading. Malta: Malta is another EU member state with a favorable tax environment for traders.

How is forex trading taxed in Cyprus? ›

Forex differences are tax neutral for CIT purposes (i.e. forex gains are not taxable and forex losses are not deductible). However, forex differences arising from trading in foreign currencies (and related derivatives) are subject to CIT.

How much is a forex license in Cyprus? ›

There are two types of licenses in Cyprus applicable for forex and usually, the companies are known as CIF – Cyprus Investment Firm: Standard license – approx. €125,000.00, a broker can hold clients' money but cannot trade on its own account; Full license – requires approx.

What are the largest forex companies in Cyprus? ›

Intro and winners
  • Saxo Bank is the best forex broker in Cyprus in 2024 - Massive number of currency pairs. ...
  • Fusion Markets - One of the lowest commissions on the market. ...
  • Global Prime - Low forex fees. ...
  • IC Markets - Low FX commission and tight spreads. ...
  • Pepperstone - Low FX commission and tight spreads.
Mar 28, 2024

Is CySEC regulation good? ›

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.

Can you trust forex brokers? ›

Forex trading itself is not a scam, but there are certainly scammers who use the industry as a way to take advantage of unsuspecting investors. These scams come in many forms, from unscrupulous brokers to fake trading systems.

Is it illegal for US residents to trade with offshore forex brokers? ›

US citizens are allowed to trade on offshore brokers as long as these brokers are registered with the CFTC or fall under an exemption category. It's crucial for traders to ensure that the broker they choose is compliant with these regulations to avoid any potential legal issues.

Is forex illegal in the US? ›

Are Forex Brokers and Forex trading legal in the U.S.? Yes, forex brokers are legal in the U.S., but they must be registered with and regulated by the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA).

Which European country is best for forex traders? ›

Switzerland

Switzerland tops our list due to the low crime rate, substantial healthcare, fast broadband and great forex trading. The crime rate here is rated low at 21.68, with all aspects being rated low to very low – residents feel safe during the day and night. The healthcare system is rated highly at 74.02.

Who is the current best forex trader in the world? ›

Top 10 best forex traders in the world 2024
  1. George Soros. Known as the "Man Who Broke the Bank of England," George Soros is a Hungarian-born American billionaire investor and philanthropist. ...
  2. Stanley Druckenmiller. ...
  3. Bill Gross. ...
  4. Ray Dalio. ...
  5. Carl Icahn. ...
  6. John Templeton. ...
  7. Warren Buffett. ...
  8. Charlie Munger.
Jan 2, 2024

Who is the number one forex trader in the world? ›

1. George Soros. We start our list of the best Forex traders in the world by looking at one of the most legendary figures in Forex trading history, George Soros.

Where is the most important foreign exchange trading center? ›

There is actually no central location for the forex market - it is a distributed electronic marketplace with nodes in financial firms, central banks, and brokerage houses. 24/7 forex trading can be segmented into regional market hours based on peak trading times in New York, London, Sydney, and Tokyo.

Why do forex traders go to Dubai? ›

In fact, Dubai has become a hub for forex trading companies due to its strategic location, business-friendly environment, and advanced infrastructure. The city's position as a global financial center makes it an attractive location for companies looking to establish a presence in the Middle East and beyond.

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