ASIC, CySEC, DFSA +2 more
CySEC Regulator Explained
The Cyprus Securities and Exchange Commission (CySEC) stands as a leading financial regulatory agency in Cyprus, founded in 2001. Today, it holds a significant position in the Forex industry, commanding respect as one of the foremost regulators. CySEC-regulated Forex brokers are permitted to offer financial services to clients across Europe, as the commission complies with the European MiFID financial harmonization law. Being a member of the EU, Cyprus provides European clients with both security and opportunities to trade with brokers under CySEC regulation, ensuring maximum safety for traders. Below, we present a list of the best CySEC-regulated Forex brokers renowned for delivering high-quality services to traders across Europe and other countries.
CySEC shoulders numerous responsibilities, including supervising and controlling the Cyprus Stock Exchange and licensed investment service companies, overseeing Forex brokers, granting licenses to investment firms, and enforcing sanctions and penalties when necessary. To enhance trader safety, Forex brokers under CySEC regulations have implemented various measures. CySEC has worked towards improving transparency, increasing fines, and enhancing the handling of investor complaints. For retail clients engaged in Forex trading with CySEC-regulated brokers, leverage is capped at 1:30, ensuring responsible trading practices. Additionally, in the unfortunate event of broker insolvency, eligible investors can claim compensation, with the maximum amount set at 20,000 Euros. Over time, CySEC has transformed into a reliable regulatory authority, implementing key changes to its laws and regulations. As a result, traders can now feel secure and confident while dealing with Forex brokers regulated by CySEC.