Best Forex Brokers in Cyprus for 2026

Company	Accepts CY Residents	Regulated by CySEC	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
IG	check	check		£1	0.91 info

IG is my top pick for forex traders in Cyprus in 2026. The broker operates locally through IGM Forex Ltd, which holds a Cyprus Investment Firm (CIF) license from CySEC (License No. 309/16, issued in 2016). That gives Cypriot residents direct access to IG under MiFID II rules. Founded in 1974 and publicly traded on the London Stock Exchange (LSE: IGG), IG is regulated across 11 Tier-1 jurisdictions globally.

Trust and regulation: Cypriot clients trade under CySEC oversight and ESMA's product intervention rules, including a 30:1 leverage cap on major forex pairs, mandatory negative balance protection, and segregated client funds. CySEC-regulated brokers must also participate in the Investor Compensation Fund (ICF), which covers eligible clients up to €20,000 in the event of broker insolvency. Through MiFID II passporting, IG's Cyprus entity can also serve clients across the European Economic Area.

Platforms: IG's proprietary web platform delivers sophisticated charting, integrated Reuters news, and customizable watchlists, while the IG Trading mobile app won our 2026 Annual Award for #1 Mobile App. MetaTrader 4 is supported for traders who prefer the industry standard, alongside ProRealTime for advanced charting and API connectivity for algorithmic strategies.

The IG web platform features integrated video on its charting as well as a full layout combining a watchlist with relevant news headlines.

Pricing: EUR/USD spreads sit around 0.6 pips on the standard account, with no commission on forex trades. EUR-denominated funding is supported through local SEPA transfers and standard payment options, and IG provides English and Greek-language coverage across its Cyprus-focused platforms and educational content.

Steven's take:

"IG combines a long-standing CySEC license with one of the most polished platforms in the industry. For Cypriot and EU traders alike, that pairing makes it one of the strongest options for anyone trading under MiFID II protections."

Steven Hatzakis
Director of Online Broker Research

Company	Accepts CY Residents	Regulated by CySEC	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
FOREX.com	check	check		$100	1.00 info

FOREX.com is best suited for Cypriot traders looking for a globally established broker paired with full local CySEC regulation. The broker operates in Cyprus through StoneX Europe Limited, a Cyprus Investment Firm (CIF) authorized and regulated by CySEC under License No. 400/21. Parent company StoneX Group is publicly traded on NASDAQ (SNEX) with a Fortune 500 ranking and operations across more than 180 currency markets.

Trust and regulation: Cypriot clients trade under CySEC oversight and ESMA's product intervention rules, including a 30:1 leverage cap on major forex pairs, mandatory negative balance protection, and segregated client funds. StoneX Europe Limited is a member of the Investor Compensation Fund (ICF), which covers eligible clients up to €20,000 in the event of broker insolvency. Through MiFID II passporting, the Cyprus entity also enables FOREX.com to serve clients across the European Economic Area.

Platforms: FOREX.com supports MetaTrader 4, MetaTrader 5, TradingView integration, and its proprietary web and desktop platforms. The Trading Academy earned our 2026 Annual Award for #1 Interactive Educational Experience, with structured courses, video lessons, and progress tracking designed for traders at any experience level. Performance Analytics is another standout tool, helping traders identify behavioral patterns in their own trade history over time.

You are able to trade from charts powered by TradingView on the FOREX.com mobile app. Here, an open position is visible on a 15m candlestick chart overlaid with a Bollinger Band indicator.

Pricing: Standard accounts run spreads around 1.4 pips on EUR/USD with no commission, while RAW Spread accounts narrow spreads with a per-volume commission. Minimum deposit is $100. EUR-denominated funding is supported through local SEPA transfers and standard payment options, making FOREX.com straightforward for Cypriot and broader EU residents to onboard.

Company	Accepts CY Residents	Regulated by CySEC	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
XTB	check	check		$0 info	0.92 info

XTB is best suited for Cypriot traders who want a polished proprietary platform paired with the credibility of a publicly listed broker. The broker operates locally through XTB Limited, which holds a Cyprus Investment Firm (CIF) license from CySEC (License No. 169/12, issued in 2012). Founded in Poland in 2002 and listed on the Warsaw Stock Exchange, XTB has grown into one of the largest publicly traded retail brokers in continental Europe, with more than 2 million clients globally.

Trust and regulation: Cypriot clients trade under CySEC oversight and ESMA's product intervention rules, including the 30:1 leverage cap on major forex pairs, mandatory negative balance protection, and segregated client funds. XTB Limited is a member of the Investor Compensation Fund (ICF), which covers eligible clients up to €20,000 in the event of broker insolvency. In December 2025, XTB also secured additional CySEC authorization under MiCA to offer spot cryptocurrency trading to Cypriot clients starting in 2026.

Platforms: XTB's proprietary xStation 5 platform offers sentiment data, heat maps, integrated economic calendar, advanced charting, and built-in educational content. The mobile app mirrors most of the desktop functionality, making it easy to switch between devices. XTB no longer supports MetaTrader, which is a meaningful trade-off depending on your workflow, but xStation 5 covers most of what active traders need without third-party software.

XTB’s xStation 5 platform features a highly intuitive, modular layout that supports one-click trading directly from the "Market Watch" list or via visual on-chart levels for precise Stop Loss and Take Profit placement.

Pricing: XTB offers commission-free forex trading with EUR/USD spreads averaging around 0.7 pips on the Standard account. There's no minimum deposit, which keeps the broker accessible for traders testing the platform before committing capital. Cypriot clients get access to over 11,300 instruments across forex, indices, commodities, stocks, ETFs, and crypto CFDs, with native EUR funding through SEPA transfers.

Company	Accepts CY Residents	Regulated by CySEC	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
eToro	check	check		$50-$10,000	1

eToro is best suited for Cypriot traders who want a social trading experience paired with a broad asset lineup. The broker operates locally through eToro (Europe) Ltd, which holds a CySEC license (No. 109/10, issued in 2010) and an ICF membership covering eligible clients up to €20,000. In February 2025, eToro also secured MiCA authorization from CySEC, allowing regulated crypto services across the entire EEA.

Company	Accepts CY Residents	Regulated by CySEC	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
FXCM	check	check		Starts from $50	0.9 info

FXCM is best suited for Cypriot traders who want platform flexibility paired with one of the longer-running names in retail forex. The broker operates locally through FXCM EU Ltd, which holds a Cyprus Investment Firm (CIF) license from CySEC (License No. 392/20, issued in November 2020 as part of FXCM's post-Brexit European expansion). FXCM was founded in 1999, with EU clients now served through dedicated localized sites across multiple European languages.

To identify if a forex broker is regulated as a Cypriot Investment Firm (CIF) by CySEC, the first step is to identify the register number from the disclosure text at the bottom of the broker's homepage. For example, here's the key disclosure text from FxPro's website,

FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence no. 078/07) .

Next, look up the firm on CySEC's website to validate the CIF register number is, in fact, legitimate. Here is the official CySEC page for FxPro.

Yes, forex trading is fully legal in Cyprus. The sector is tightly regulated by the Cyprus Securities and Exchange Commission (CySEC), which is known across the EU for maintaining strict standards on transparency and consumer protection. Any forex broker offering services to Cypriot residents must be licensed by CySEC or passported through another EU member state under MiFID II regulations.

Forex brokers operating in Cyprus are primarily regulated by CySEC (Cyprus Securities and Exchange Commission). CySEC is responsible for enforcing rules around capital requirements, segregation of client funds, and fair marketing practices. CySEC-regulated brokers are also subject to the European Securities and Markets Authority (ESMA), which provides additional regulatory oversight within the EU.

Yes, forex trading profits are subject to taxation in Cyprus. While Cyprus is known for having relatively low tax rates, all residents are required to report earnings, including capital gains from forex and CFD trading. Keep in mind that tax treatment may vary depending on whether you're trading as an individual or through a company. I recommend consulting with a local tax advisor to fully understand your obligations under Cyprus law.

To open a forex trading account in Cyprus, start by choosing a well-regulated broker that is either licensed by CySEC or passported into Cyprus via MiFID II. Once you’ve chosen a forex broker, you can follow this step-by-step guide to getting started with forex trading in Cyprus:

1. Complete the live account application process with your forex broker and read through the applicable terms and conditions.
2. Next, you’ll need to fund your new brokerage account. Choose your preferred deposit method, and make sure you are starting with an amount you can afford to risk.
3. Check out a demo (or, virtual trading) account to familiarize yourself with the broker’s trading platform. Get comfortable with the broker’s website and product offerings, and consume any available educational content.
4. Put together a trading plan. Even the best traders can lose money, but the key to long-term success lies in sticking to a trading plan that keeps your average losses low (relative to your average profits).
5. Now, you can enter the forex market. Choose your desired trade size, and open a long position by clicking buy on a given currency, or open a short position by clicking sell.

The best forex trading app for residents in Cyprus is IG's Trading app. Available on both iOS and Android, IG’s mobile platform mirrors the functionality of its web platform, offering a reliable experience for traders who prefer managing positions on the go. The app features real-time quotes, advanced charting, price alerts, integrated news, and full account management tools. You can execute trades in just a few taps, view detailed order tickets, and monitor your watchlists with ease.