Best Forex Brokers in Cyprus: A Comparative Guide

• Bybit - A global cryptocurrency exchange offering Forex and CFD trading through the MetaTrader 5 platform, with leverage of up to 1:500.

• XM Group - Best Order Execution (99.35% of orders are executed nearly instantly)

• Vantage Markets - Best for trading CFDs on major U.S. Stocks (zero fees apply)

• FxPro - Biggest choice of currency pairs (70+ FX CFDs)

• VT Markets - Attractive Forex bonuses (50% welcome bonus, 20% deposit bonus)

• NPBFX - Best for trading real market rates (STP/NDD Trading Model)

At Traders Union, we evaluate Forex brokers to help traders make informed, confident decisions and avoid unreliable or unsafe options. We use a professional and detailed approach, focusing on key factors such as regulation and safety, trading costs, ease of use, platform features for all experience levels, and real trader feedback collected over 15 years.

We’ve outlined every step of our evaluation in detail on our Methodology Page. Our process is transparent, data-driven, and built on years of expertise, combined with real trader insights, ensuring you can trust our recommendations.

Our goal is to guide traders toward brokers that are safe, reliable, and suited to their needs, whether they are beginners or experienced professionals in Cyprus

Comparison of leading Forex brokers in Cyprus

The minimum deposit, EUR/USD spread, eligibility for residents of Cyprus, and the number of available currency pairs are key factors to consider when choosing a broker.

• The minimum deposit shows how affordable it is to start trading.
• The EUR/USD spread highlights trading costs—lower spreads mean you save more.
• Eligibility for residents of Cyprus ensures you can legally access the broker’s services.
• The number of currency pairs reveals the variety of trading options available.

Together, these factors help you determine if a broker is safe, cost-effective, and aligned with your trading needs.

We have analyzed the key advantages and disadvantages of the leading Forex brokers in Cyprus, as well as their overall ratings based on our proprietary methodology.

Available in Cyprus

1

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TU Overall Score 9.2 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.7 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	8 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	4.4 /10

Advantages Disadvantages

• Access to Forex and CFDs without the need for third-party broker verification;
• Support for trading via mobile and desktop MT5 versions;
• Leverage up to 1:500 on most contracts;
• Transparent commission and spread calculation system;
• ECN model with ultra-tight spreads and fixed lot-based commissions;
• No minimum deposit requirements;
• Free demo account for virtual trading.

• No multi-currency accounts;
• Limited passive income options in the Forex market.

Available in Cyprus

2

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TU Overall Score 9 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.1 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	7 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	10 /10

Advantages Disadvantages

• XM Broker guarantees 100% execution of orders, 99,35% of orders delivered nearly instantly. No requotes guaranteed;
• No “markup” on narrow market spreads (broker's margins over the spread);
• Over 1,000 trading instruments. Available for trading are: 57 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), stocks;
• No commission for replenishment and withdrawal of money. XM Broker incurs all commission costs of payment systems;
• Around the clock support for 5 days a week in more than 30 languages.

• Expanding their limited choice of trading platforms. Despite the fact that the broker offers 16 terminals, all of them are modifications of MT4 and MT5 for desktop, browser and mobile trading.

Available in Cyprus

3

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TU Overall Score 8.3 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	7.8 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	7 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	10 /10

Advantages Disadvantages

• A vast array of trading instruments like 1000+ currency pairs and contracts for difference (CFDs).
• The broker has licenses from four reputable regulators.
• Classic trading terminals and a proprietary mobile application.
• An extensive array of trading signals to choose from for traders, regardless of the type of trading account.

• Customers from most countries are forced to cooperate with a branch that has an offshore license.
• Limited training and a lack of information on Forex trading.
• Snail-paced withdrawal of funds with the requirement to comply with special conditions.

Available in Cyprus

4

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TU Overall Score 7.9 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	8.5 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	6 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	10 /10

Advantages Disadvantages

• Negative Balance Protection of a client on a real account is a unique broker service. It has an automated transaction monitoring and a risk management system, the capital is guaranteed not to go into a negative balance;
• insurance of client funds at the expense of the broker participation in an investor compensation fund;
• beginner traders will be able to access tested advisors;
• a full package of services is available to the client regardless of the balance of his account;
• VIP account holders are offered a personal manager and get a Free VPS;
• company capital exceeds 100 million euros;
• offers swap-free accounts for customers whose religious beliefs do not permit swapping eg. Islamic traders;
• the reliable trading environment provided by the competent educational and research department.

• it is not the best choice for beginner traders who are looking for their first broker as the minimum deposit of $100 is considered high;
• difficulties registering in an affiliate program.

Available in Cyprus

5

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TU Overall Score 8.7 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.7 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	6 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	9.5 /10

Advantages Disadvantages

• Financially stable parent company and reliable custodian bank.
• Over 230 assets of different classes are available for trading.
• It allows trading using STP, ECN, and Islamic accounts.
• A wide range of investment solutions from reputable third-party platforms.
• Margin trading with leverage up to 1:500 for cryptocurrency pairs.
• Average trading commissions on ECN and precise market spreads on all account types.
• Access to making trades in desktop and mobile terminals MetaTrader 4/5, as well as in the web version of MT4.

• The high minimum deposit for novice traders is $50.
• Lack of access to micro (cent) accounts.
• The list of available assets does not include cryptocurrencies and ETFs.

Available in Cyprus

6

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TU Overall Score 7.7 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	7.2 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	3 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	4.7 /10

Advantages Disadvantages

• The broker provides traders with best market prices supported by liquidity from Tier 1 banks and ECN systems, such as Integral, Currenex, and Hotspot;
• Membership in the Financial Commission provides up to EUR 20,000 insurance coverage on deposits of traders;
• social trading with access to the independent ZuluTrade platform;
• Loyal trading conditions. Minimum deposit is $10 with leverage up to 1:1000;
• all strategies are allowed, including scalping, hedging/locking, and algorithmic high-frequency trading on all types of accounts.

• compared to other brokers, the speed of copying trades on ZuluTrade is not the fastest;
• no MT5 trading platform, which has unique advantages over MT4;
• There are no licenses from regulators. The broker is a member of the Financial Commission, which does not always support traders and is not authorized to recover fines imposed on brokers;
• no cent accounts.

Trading fees and commissions of top brokers in Cyprus

We compared both trading and non-trading fees of the top brokers in Cyprus. This comparison highlights the following:

• Trading fees:

  These include average spreads in pips for popular currency pairs like EUR/USD and GBP/USD, based on both Standard and ECN account types with floating spreads.

• Non-trading fees:

  These cover deposit and withdrawal fees (percentage-based), along with inactivity fees.

By analyzing these parameters, we aim to provide a transparent overview of the cost-effectiveness of brokers in Cyprus.

Security and regulation of top brokers in Cyprus

When choosing a Forex broker in Cyprus, regulation ensures your funds are safe. Tier-1 regulation is the most reliable, with strict rules on transparency and client protection. Tier-2 regulation is solid but less strict, offering a reasonable level of oversight. Tier-3 regulation and unregulated brokers are riskier, with minimal or no monitoring, which can put your money at risk.

The data below shows the regulatory level of brokers available in Cyprus, helping you make a safe and informed choice.

Top 3 brokers for beginners in Cyprus

This comparison highlights the best brokers in Cyprus for new traders based on the following criteria:

• Education Score: Assesses the quality of educational materials, such as tutorials and guides.
• Cent Accounts: Allow traders to start with minimal capital ($1–$10), enabling them to learn market dynamics with limited financial risk.
• Demo Accounts: Provide risk-free environments for practicing trading strategies.
• Copy Trading: Enables new traders to learn by replicating the trades of experienced traders.
• PAMM Accounts: Offer opportunities for passive investment.

These features help ensure a smooth start and effective learning experience for beginners in Cyprus.

Is Forex regulated in Cyprus?

How to choose a Forex broker in Cyprus

For beginners, it’s essential to start with a strong foundation in Forex trading basics. Focus on understanding trading psychology, how leverage impacts risk, and the importance of lot sizes and risk management strategies.

Once you’ve built your knowledge, follow these practical steps to begin trading Forex in Cyprus:

• Check regulation and security.

  Ensure the broker is regulated by a Tier-1 or Tier-2 regulatory authority or holds a valid license in Cyprus. Regulation helps guarantee fund safety and compliance with industry standards.

• Compare fees and spreads.

  Seek brokers offering low spreads, transparent fees, and competitive commission structures for Cyprus clients to minimize trading costs.

• Evaluate trading platforms.

  Choose brokers offering advanced platforms such as MT4, MT5, or TradingView for efficient trading and analysis.

• Review account types.

  Select a broker that offers account types suited to your needs, such as Cent and Demo accounts for beginners and ECN accounts for experienced traders.

• Assess deposit and withdrawal options.

  Ensure the broker provides fast, affordable, and reliable deposit and withdrawal methods in Cyprus.

• Check customer support quality.

  Choose brokers that offer responsive, multilingual support 24/7 to ensure prompt and effective issue resolution.

Expert advice for traders in Cyprus

Author at Traders Union Parshwa Turakhiya

Updated on July 07, 2025

In my experience, responsive customer support is crucial for a positive trading experience. Trading inevitably involves occasional issues, whether it's a question about deposits and withdrawals or a technical problem with the platform. Brokers offering 24/7 multilingual support have been invaluable in my trading journey. Multiple communication channels, such as live chat and phone support, facilitate prompt issue resolution. Reliable customer support not only addresses issues quickly but also demonstrates the broker's commitment to its clients' success.

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Team that worked on the article

Anton Kharitonov

Financial expert and analyst at Traders Union

Anton Kharitonov is an active trader and analyst. He employs both short- and long-term trading strategies, primarily based on fundamental factors, supported by technical indicators and intermarket analysis. Anton trades major and minor currency pairs, while his primary focus is on oil futures and index CFDs.

As a financial expert and analyst at Traders Union since 2013, Anton performs thorough internal broker evaluations, referred to as “test drives.” He examines website and account interfaces, client support, software stability, deposit and withdrawal processing speed, legal documentation, and additional broker services such as VPS, affiliate programs, contests, bonuses, and training programs.

New knowledge is the key to expanding our horizons and unlocking new opportunities. Every step in learning, every new understanding empowers us become better, smarter, and stronger. Knowledge provides an advantage, enabling informed decisions, confident actions, and forward momentum. In a changing world, only those who embrace learning and adaptation can truly thrive.

Based on these evaluations, Anton prepares expert reports on the operation of Forex, stock, binary options, and cryptocurrency exchanges.

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Chinmay Soni

Developmental English Editor

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito

Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).