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 Options 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.
AvaTrade is a brokerage company that provides optimal working conditions for all traders with any skill level. The broker provides customers with security by protecting their data and finances, and they are constantly working to improve the service.
Swissquote is a broker that targets primarily large investors. The company is licensed by the reputable regulator FINMA and that ensures reliable protection of funds and interests of clients or investors in the event of disputes and conflicts. But for ordinary traders, Swissquote is not very convenient due to its unattractive working conditions. Swissquote is worth considering for those looking to invest from $1 million. If you are one of them, send us an email, and we will consult with you separately and help you do everything as quickly and reliably as possible. For ordinary traders, however, Swissquote is significantly inferior to its competitors in all respects.
J.P. Morgan Self-Directed Investing is a trading and investing broker focused on experienced market participants.
Robinhood markets is focused on working with traders from America but does not provide opportunities for active trading in currency pairs.
1
Best Options 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 Options Apps in Cyprus - AvaTrade
AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 10 countries. It currently has over 300, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC, 406684), the Japanese FSA ( 1662), and the South African FSCA ( 45984). AvaTrade holds accreditation by the Central Irish Bank ( C53877 ), the Abu Dhabi Financial Services Regulatory Authority (190018), and the British Virgin Islands Financial Services Commission ( SIBA/L/13/1049), CySEC ( 347/17). AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 1,200 tools to customers.
👍 Advantages of trading with AvaTrade for traders in Cyprus:
•a wide range of trading instruments;
•there is a license for the provision of services on the territory of 5 continents;
•customer service operates around the clock and provides competent assistance to users in 14 languages;
•a wide choice of convenient trading platforms;
•ability to trade from mobile devices;
•availability of an account for representatives of Islam (swap-free);
•for reliable storage of customer funds, the broker uses a segregated account;
•option for automated trading using trading advisors, indicators, and other analysis tools;
•no restrictions on trade and scalping;
•availability of training materials and conducting webinars for beginners and experienced traders.
👎 Disadvantages of AvaTrade for traders in Cyprus:
•the site interface is not user-friendly;
•customer service efficiency and response time
•trading terminals are prone to occasionally freeze.
3
Best Options Apps in Cyprus - Swissquote Bank SA
The Swissquote brokerage firm has been operating in the Forex market since 1996. The company is regulated by the Swiss Financial Markets Authority (FINMA). The company is a member of the Swiss Bankers Association. It has offices in many financial capitals of the world: Zurich, London, Dubai, Hong Kong and is moderately popular among traders. The company falls short in the category of customer service when compared to other top companies and is significantly inferior to popular Forex brokers in many other respects also. This is reflected in its place in the Forex broker ratings. Swissquote has prioritized reliability, while paying less attention to indicators that are important for each trader, such as the size of the minimum deposit, trading conditions, deposit conditions, and its rules on withdrawing funds. The quality of Swissquote Bank's customer support is also at a satisfactory level, but lower than that of the top brokers.
👍 Advantages of trading with Swissquote Bank SA for traders in Cyprus:
•availability of a license from an authoritative regulator;
•a wide range of financial services;
•a large selection of deposit currencies.
👎 Disadvantages of Swissquote Bank SA for traders in Cyprus:
•not very informative and slow working site;
•high spreads and commissions;
•large deposit;
•lack of multilingual support in the live chat;
•few promotions, bonuses, contests, or other special offers;
•a very complicated registration procedure that requires mandatory verification.
4
Best Options Apps in Cyprus - J.P. Morgan
The J.P. Morgan Self-Directed Investing service is in the brokerage division of JPMorgan Chase & Co Financial Corporation, and it offers investment services through JP Morgan Securities LLC (JPMS). The broker is part of one of the largest and oldest financial services corporations in the United States, with a reputation for transparency, accountability, and reliability. The broker provides services of long-term and retirement investment in securities within the USA market, services of active trading, and portfolio algorithmic investing. Trading assets are stocks of companies, ETF-fund shares, options, securities of retirement and investment funds, treasury notes, bills, US, corporate, and municipal bonds, derivatives, secondary market assets, etc.
👍 Advantages of trading with J.P. Morgan for traders in Cyprus:
•Flexible and clear tariff policy. For private investing the deposit is from $1, for automatic portfolio investing the deposit amount is from $500.
•Strict regulation. The SEC regulates J.P. Morgan Self-Directed Investing, and it is a member of FINRA CRD#: 79/SEC#: 801-3702,8-35008 and SIPC (the investor compensation fund). The broker is also subject to an annual external audit and is controlled by an exchange auditor.
•Offers trading accounts and retirement accounts.
•Automated Investing is an investment option that ensures that an investment portfolio follows the criteria set by the investor. The brokers’ analysts manage the portfolio.
•Additional products. Every broker's client can take advantage of other investment and financial offers from concessional lending to the development of a personal financial plan and trust management services.
👎 Disadvantages of J.P. Morgan for traders in Cyprus:
•The services are only available to U.S. residents. Possible schemes to work through intermediary funds/companies lead to a significant increase in the trade cost.
•Emphasis on financial products. Technological trading tools go into the background.
5
Best Options Apps in Cyprus - Robinhood
Robinhood is an investment company that has provided services on the stock market for over ten years. Its owners engaged in software development for hedge funds ab initio and then teamed up to create a company that makes investing available to all. The broker is licensed to provide its services and is a member of the Financial Industry Regulatory Authority (FINRA, CRD#: 165998/SEC#: 8-69188) in the United States. There is no information about the broker receiving awards for their activities.
👍 Advantages of trading with Robinhood for traders in Cyprus:
•trading stock market instruments without paying commissions;
•the ability to trade from mobile devices;
•hassle-free registration procedure.
👎 Disadvantages of Robinhood for traders in Cyprus:
•the broker does not offer Forex instruments for trading;
•there are no offers for receiving passive income;
•training materials on the website are limited;
•the company works with clients exclusively from the US;
•lack of online support.
Best Options 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.
AvaTrade - Education for Investors
Investment Education Online
Information
The broker’s website has the Training section, which contains hundreds of text and video materials. Among them, there is both a base intended for training beginners and deeper analytics for advanced training of experienced traders.
If you want a more effective training system, you should use a demo account. Putting theory into practice will help you gain a better understanding of the material and will enable you to use the acquired knowledge safely to generate income on a live account.
Swissquote Bank SA - Education for Investors
Investment Education Online
Information
Videos, e-books, and training webinars are available on the Swissquote website.
All these instruments can be tested only on a real trading account before use, which is a disadvantage and may result in losses.
J.P. Morgan - Education for Investors
Investment Education Online
J.P. Morgan Self-Directed Investing is the investment brokerage division of JPMorgan Chase & Co. Therefore, the Financial Education section applies to the entire corporation and contains information not only about trading and investing, but also about personal finance in general.
Robinhood - Education for Investors
Investment Education Online
Robinhood Markets not only allows clients to invest but also explains the basics of investing.
The user won’t learn the ropes about the stock market without risks since there are no demo accounts in Robinhood.
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 Options Trading App in Cyprus 2024.
eToro | AvaTrade | Swissquote Bank SA | J.P. Morgan | Robinhood | |
---|---|---|---|---|---|
Overall score |
9.4 |
8.32 |
6.76 |
5.05 |
8.2 |
Execution of orders |
9.1 |
8.5 |
4.37 |
4.84 |
7.9 |
Investment instruments |
9.7 |
9.5 |
9.76 |
5.26 |
8.5 |
Withdrawal speed |
9.5 |
7.2 |
5.14 |
4.9 |
8.3 |
Customer Support work |
9.3 |
7.9 |
8.44 |
5.2 |
8.1 |
Variety of instruments |
9 |
10 |
8.02 |
4.68 |
7.8 |
Trading platform |
9.8 |
6.8 |
4.84 |
5.42 |
8.6 |
|
|||||
|
|
|
- Best CFD Trading App In The World for 2024
- Best Binary Trading App In Japan for 2024
- Best Options Trading App In Indonesia for 2024
- Best Futures Trading App In the Netherlands for 2024
- Best Mobile Trading App In Thailand for 2024
- Best Swing Trading App In Morocco for 2024
- Best Copy Trading App In Uganda for 2024
- Best Futures Trading App In the UK for 2024
- Best Swing Trading App In the Netherlands for 2024
- Best Copy Trading App In Romania for 2024
- Best Bitcoin Trading App In Slovenia for 2024
- Best Forex Trading App In Spain for 2024
- Best Options Trading App In South America for 2024
- Best Copy Trading App In Greece for 2024
- Best Forex Trading App In Japan for 2024
- Best Bitcoin Trading App In Haiti for 2024
- Best Stock Trading App In Switzerland for 2024
- Best Stock Trading App In Morocco for 2024
- Best Options Trading App In Poland for 2024
- Best Online Trading App In Turkey for 2024
- Best Futures Trading App In Portugal for 2024
- Best Copy Trading App In Singapore for 2024
- Best CFD Trading App In Sri Lanka for 2024
- Best Mobile Trading App In the Netherlands for 2024
- Best Paper Trading App In Tanzania for 2024
- Best Binary Trading App In The World for 2024
- Best Forex Trading App In the US for 2024
- Best Bitcoin Trading App In Egypt for 2024
- Best Paper Trading App In Spain for 2024
- Best Stock Trading App In Japan for 2024
FAQ
Is it possible to register with a broker using the mobile app?
Yes. Brokers provide an opportunity to open an account and pass verification directly in the mobile app.
Do I need to pay for downloading the app?
Brokers do not charge a fee for downloading their mobile app. They are provided for free.
Does the functionality of apps differ from that of the web version?
It depends on the broker. A good quality mobile app replicates the functionality of the web version either fully or as much as possible.
How are the apps protected against unauthorized access?
As a rule, in addition to the username and password, other security measures apply, for example two-factor authentication. In this case, you will need to enter a unique code to access your account.
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.