Many traders in Cyprus use mobile apps to trade. Many brokers operate in this country, each offering their own platform. Before making a choice, it is important to evaluate apps to find the one that perfectly suits your goals and strategy. TU analysts compared Top 5 mobile apps. You will be able to choose the Best Online Trading App in Cyprus for 2024, based on our assessments.
eToro is an international broker for trading and investing in assets, copying trades of experienced market players and earning income on offering your own successful strategy. The activities of eToro are controlled by European financial regulators: CySEC and FCA. The broker offers its clients the opportunity to trade indices with a maximum leverage of 1:20 and ETF instruments with a leverage of 1:5. Size of leverage in eToro can also vary depending on the regulation of the division of the broker you work with.
Revolut provides its clients access to shares of international and American companies, cryptocurrencies, and metals. For investors, Revolut offers a social trading program. Revolut's copy trading platform is trendy among investors because it has a forum for traders to communicate with each other in real-time. Also, various charts and indicators are available in the Revolut trading platform for technical analysis. Revolut is a company actively developing and plans to make all of its services available to foreign citizens. Fractional share trading offered by the broker allows beginners to learn trading without high financial risks.
E-Trade specializes in e-trading and is primarily focused on working with the American stock market.
SpeedTrader strives to cooperate with traders with significant capital reserves who have hands-on experience in trading on the stock markets.
Advantage Futures is a broker for active participants in the futures markets, and trading conditions are suitable for traders with different levels of expertise.
1
Best Online Apps in Cyprus - eToro
The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA.
👍 Advantages of trading with eToro for traders in Cyprus:
•High level of reliability ensured by the licenses of respected regulatory authorities and participation in the compensation funds.
•Wide selection of assets quoted at stock exchanges in the UK, U.S., Australia and Asia.
•An opportunity to combine active trading with social trading and passive investing.
•Zero-fee trading of a number of stocks.
•Access to ready-made diversified asset portfolios with various risk levels.
•Provision of leverage, educational materials on various markets and user-friendly trading platforms that can run on any device.
•Zero fees for portfolio management, depositing funds and account maintenance.
👎 Disadvantages of eToro for traders in Cyprus:
•High minimum deposit for users of a number of countries.
•No live chat on the website for quick connection to customer support.
2
Best Online Apps in Cyprus - Revolut
Revolut is a British fintech company that has been providing investors with accounts for trading precious metals, cryptocurrencies, and stocks listed on U.S. exchanges since 2015. The broker offers its clients access to investing in stocks and ETFs on European stock exchanges. For organizations and private clients, the company offers a multi-currency account with the possibility of exchanging currencies at the current inter-bank exchange rate. Revolut is supervised by the Financial Services Authority (FSA).
👍 Advantages of trading with Revolut for traders in Cyprus:
•In addition to stock trades, customers can trade cryptocurrencies and precious metals.
•The broker offers commission-free trading plans.
•The minimum number of shares to buy is 0.00000001.
•There are no minimum deposit requirements.
•Social trading is available, which allows newcomers to the stock market to copy trades of successful traders.
•Communication with the support service via chat is available in the mobile application 24 hours a day.
•There is no fee for opening and maintaining a trading account.
👎 Disadvantages of Revolut for traders in Cyprus:
•Stock trading is currently only available to UK residents.
•Operations in precious metals and cryptocurrencies are not regulated by supervisory authorities.
•The company does not offer fiduciary management of its investment portfolio.
3
Best Online Apps in Cyprus - ETrade
The Etrade broker is a subsidiary of Morgan Stanley, the financial conglomerate, which has been operating since 1982. Today, E*TRADE is the leading online platform for financial instruments trading on the world's major exchanges. It offers operations with stocks, options, futures, bonds, ETFs, as well as investments in mutual funds. The broker is a member of FINRA (CRD#: 29106/SEC#: 8-44112), SIPC, NFA (0401545), and the FDIC, and provides services according to its license with the SEC, the US Securities and Exchange Commission.
👍 Advantages of trading with ETrade for traders in Cyprus:
•Fully adaptable to e-commerce through its mobile applications.
•No commissions when working with stock options on American exchanges.
•Twenty-four/seven customer support via online chat.
👎 Disadvantages of ETrade for traders in Cyprus:
•The Forex market tools are not available for trading.
•Training is provided in English only,
•Leverage is limited and cannot exceed 50% of the trader's personal funds.
•You cannot open a demo account to test the broker's conditions.
•There is no support, the website is only in English.
4
Best Online Apps in Cyprus - SpeedTrader
SpeedTrader is a stock market broker that started operations in 1999 under the brand name Mint Global Markets, Inc. The broker is currently regulated by the Financial Industry Regulatory Authority (FINRA, CRD#: 107403/SEC#: 8-53035 ) and is a member of the Securities Investor Protection Corporation (SIPC). SpeedTrader provides online trading platforms with a collection of analytical instruments as well as trading software with direct access to renowned exchanges. The company is headquartered in New York, USA.
👍 Advantages of trading with SpeedTrader for traders in Cyprus:
•SIPC insurance coverage and FINRA membership.
•Availability of an affiliate program.
•Proprietary trading platforms.
•Daily update of the list of available assets.
•Online chat for urgent issues.
•Trade routing.
•Optimized web platform.
👎 Disadvantages of SpeedTrader for traders in Cyprus:
•The high minimum deposit for day trading (from $30,000) and a fee for using the trading platform.
•Inability to trade cryptocurrency and Forex instruments.
•Time-limited free demo account.
5
Best Online Apps in Cyprus - Advantage Futures
The Advantage Futures broker (Advantage Futures) is an American brokerage that began its operations in 2003. The company is regulated by three independent bodies: the US National Futures Association (NFA 327359), the US Financial Industry Regulatory Authority (FINRA 39362), and the US Commodity Futures Trading Commission (CFTC). Advantage Futures specializes in futures trading and provides traders with direct access to seven exchanges for derivatives. Experience in trading in the futures market is not obligatory, the broker offers trading platforms for different clients’ needs, and the support service will help each client individually to choose the appropriate options.
👍 Advantages of trading with Advantage Futures for traders in Cyprus:
•The broker allows you to kick the tires and get acquainted with trading conditions using a demo account.
•A trader can choose accounts with different forms of ownership.
•The company offers a lightning-fast execution of transactions, so trading at Advantage Futures is suitable for scalpers.
•The company offers low fees, which decreases further with increasing trading volumes.
•Providing traders with direct access to derivatives exchanges.
•Keeping clients’ funds in segregated accounts.
•A vast array of trading platforms for different clients’ needs.
👎 Disadvantages of Advantage Futures for traders in Cyprus:
•Bonuses for trading in the company but contests are not provided.
•High level of minimum deposit.
•The company's clients do not have access to replenishment and withdrawal of funds through electronic payment systems.
Best Online Trading App in Cyprus 2024: Education for Investors
When choosing the app, it is important to consider educational tools offered by brokers. TU analysts prepared a comparison of educational programs.
eToro - Education for Investors
Investment Education Online
eToro pays special attention to the education of traders. The broker’s website features information about what copy trading, leverage and margin are. There are also descriptions of how to buy and sell various types of financial instruments.
Upon completion of registration, any trader can create a free demo account with a virtual deposit of $100,000 and practice trading in an entirely risk-free environment.
Revolut - Education for Investors
Investment Education Online
Revolut doesn't offer training programs on the basics of stock trading. But the company's site has a blog section, which contains articles and videos with investment tips from Revolut experts and a description of the nuances of stock trading.
The information presented in the Blog section can be useful not only for beginners but also for professional investors.
ETrade - Education for Investors
Investment Education Online
The broker offers a library on the site to introduce the basics of stock trading to novice traders. It provides reviews, analytics, news, expert opinions, and useful tips to improve your trading efficiency.
The broker doesn’t have a demo account, but the knowledge gained academically can only be applied in practice using real assets.
SpeedTrader - Education for Investors
Investment Education Online
No training is offered on www.speedtrader.com. But the Resources section contains articles on fundamental analysis and how to use technical indicators in trading. It also features video tutorials and webinar recordings from successful traders and leading SpeedTrader analysts.
Working on a demo account makes it possible to test the trading terminal and create a profitable strategy without the risk of losing capital.
Advantage Futures - Education for Investors
Investment Education Online
Cooperation with Advantage Futures assumes not only high-quality service and favorable trading conditions, but the broker also provides its clients with educational materials so that they can improve their professionalism and achieve greater success in futures trading.
The broker allows traders to test trading conditions and try out trading strategies without financial risks on a virtual account. To open it, contact the company's employees.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Cyprus choose the most. However, now you need to choose the best of them. You can do it using the scores given by the Traders Union. Check out the score table that will help you choose the Best Online Trading App in Cyprus 2024.
| eToro | Revolut | ETrade | SpeedTrader | Advantage Futures | |
|---|---|---|---|---|---|
|
Overall score |
9.4 |
9.5 |
8.3 |
7.05 |
7 |
|
Execution of orders |
9.1 |
9.2 |
8 |
6.84 |
6.79 |
|
Investment instruments |
9.7 |
9.8 |
8.6 |
7.26 |
7.21 |
|
Withdrawal speed |
9.5 |
9.6 |
8.4 |
6.9 |
6.85 |
|
Customer Support work |
9.3 |
9.4 |
8.2 |
7.2 |
7.15 |
|
Variety of instruments |
9 |
9.1 |
7.9 |
6.68 |
6.63 |
|
Trading platform |
9.8 |
9.9 |
8.7 |
7.42 |
7.37 |
|
|
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FAQ
Do all brokers offer mobile apps for iOS and Android?
Unfortunately no. Some companies focus only on one operating system. Before opening an account make sure that the broker offers the version for your operating system.
If a broker has several platforms, does it mean it offers several apps?
No. If a broker has several trading platforms, there is either an option to switch between them in the app, or only one trading platform is available (usually the proprietary one).
Are there versions of the apps for tablets?
In some cases, Forex brokers develop separate versions of apps for smartphones, tablets and even for TV sets.
If I remove the app from my phone and then reinstall it, will I lose the information?
No. The information is stored in the user account on the server. You will need to enter your username and password, pass two-factor authentication (if applicable) and you will have full access to your information.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.