There are plenty of CySEC-regulated brokers on the market, but not all of them are beginner-friendly. Find out how to find them in this article.

Choosing the right broker might be a hard task for new traders. There are many things that cause this, but the most common one is that beginners don't really know what they should look for in a broker. Sure, regulations can be a defining factor in choosing a good broker, but there are different kinds of regulatory bodies so it might be overwhelming for new traders to recognize them. In this case, a CySEC-regulated broker is probably one of the most ideal choices for many types of traders.

The CySEC (Cyprus Securities and Exchange Commission) is associated with laws such as MiFID and MiFIR. Both are EU-based companies which means they will provide transparency according to European laws. However, not all CySEC-regulated brokers are specifically made for beginners. In order to make a wise choice, traders should know what factors to look for in a broker for beginners.

CySEC broker for beginners

Generally, there are many factors that can determine whether a CySEC broker is fit for beginners or not. But, these three are some of the most common factors. Notice that a good broker doesn't have to provide all of these aspects, but it would be great if they are all made available:

  1. Low spreads: Spreads will affect trading costs, so a low-spread broker can be a great choice for those who have just started trading.
  2. Education materials: The markets always change, therefore, traders should always be prepared. This is why education is very important, especially for new traders who have just started trading.
  3. Good customer service: This feature might be one of the most overlooked features, but it is actually very important for beginners. Sure, most brokers have customer service features. But the question is, how active their support team is in answering questions? Brokers with 24-hour customer service can be a great choice considering beginners might have a lot of questions when it comes to trading.

Following the criteria above, here are some CySEC brokers that may work best for beginners. Keep in mind that each trader might have different opinions regarding each broker. This list is just a simple guideline to help new traders get the idea.

 

IC Markets

IC Markets is a CySEC-regulated broker that is popularly known because of its raw spread. The trading accounts are not only available on MT4 and MT5 but also on cTrader. This broker claims to have diverse and proprietary liquidity in order to provide consistent tight spreads 24/7, no matter what the condition of the market is. But, what about other features that benefit beginners?

This broker equipped their official website with a lot of educational features to make sure their traders have access to one of the best materials. For starters, they have tons of video materials teaching traders how to use trading platforms. In addition to that, IC Markets provides podcasts as well as webinar programs to teach traders anything about trading. For customer support, IC Markets comes with email inquiries as well as a phone line that is available 24/7.

IC Markets Specifications

🌐 Website
www.icmarkets.com
Leverage
1:500
💼 Regulation
💲 Min Deposit
$200
Year Established
2007

Interest rate on funds
Free education
PAMM accounts
MAM accounts
Segregated accounts
Managed accounts
Islamic accounts available
FasaPay
Neteller
PayPal
Skrill
Wire transfer

IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).

On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.

Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.

The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.

For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.

As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.

To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.

 

XM

Another CySEC broker for beginners to consider is XM. The company offers plenty of trading accounts with various spreads, with the lowest spread measured at 0.6 pips. XM also comes with more than 300 trading instruments to trade with. It doesn't stop there as the broker provides educational materials in the forms of webinars, podcasts, and market insights. This has made XM one of the top choice for traders who want to learn more. When it comes to customer support, the live chat service is available 24/7 in various languages.

XM Specifications

🌐 Website
www.xm.com
Leverage
1:888
💼 Regulation
💲 Min Deposit
$5
Year Established
2009

Interest rate on funds
Bonus offers
Free education
Personal manager
Trading by telephone
Segregated accounts
Affiliate program
Islamic accounts available
Requires sending documents via postal mail
CashU
FasaPay
Neteller
QIWI
Skrill
WebMoney
Wire transfer

Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).

XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.

In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.

Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage on the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.

To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.

For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.

XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).

All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.

For their global approach, XM has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access XM via this link.

 

Exness

Exness has several trading account types that offer 0.0 pips spreads. However, these accounts are originally intended for professionals as well as scalpers, day traders, and algo-traders. That being said, new traders can still enjoy the benefits of Exness trading guides and market updates on their blog. customer support, Exness offers 24/7 live chat, email, and phone, as well as a help center in several areas. For global users, the broker has made sure that their support is available in various languages including English, Chinese, Thai, and Swahili.

Exness Specifications

🌐 Website
www.exness.com
Leverage
1:2000
💼 Regulation
💲 Min Deposit
$1
Year Established
2008

Trading contests
Free education
PAMM accounts
LAMM accounts
Segregated accounts
Affiliate program
Islamic accounts available
Neteller
Skrill
WebMoney
Wire transfer

The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.

Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.

Not only that, but traders can also enjoy other advantages such as an automatic fund withdrawal system. If a trader withdraws funds through the e-Payment facility provided by Exness, the processing time is instant and goes straight into the account. This means that when traders make a withdrawal, everything happens automatically without human intervention.

The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.

Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.

Traders do not need to worry about transaction fees when depositing and withdrawing. When trading on Exness, transaction fees are not charged to traders. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.

All information displayed on the Exness website is tested and proven. Their business is audited quarterly by Deloitte, which is an audit company for financial services.

Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.

The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.

Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.

One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.

Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.

Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.

When trading with Exness, profit opportunities generated by traders also increase with VPS hosting services. This feature helps to maintain trading activities to progress smoothly and without interruption in the event of unexpected troubles such as lost internet connection or electricity problems that shut down traders' PCs unanticipatedly.

From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.

 

FBS

Another CySEC broker with low spreads to consider is FBS. This broker offers fixed spreads starting from 0 pips. FBS took trader education seriously in a way they have plenty of educational programs besides scheduled webinars. For example, they have a forex guidebook that can help traders start learning according to their levels. Sometimes they also help with offline seminars in several countries in order to teach traders face-to-face. For customer service, FBS can be contacted by phone call as well as live chat which is available in desktop and mobile platforms.

FBS Specifications

🌐 Website
fbs.com
Leverage
1:3000
💼 Regulation
💲 Min Deposit
$1
Year Established
2009

Bonus offers
Trading contests
Free education
Affiliate program
Islamic accounts available
FasaPay
Neteller
Skrill
Wire transfer

Since 2009, the action of FBS Holding Inc. or known as FBS in the world of forex trading has been recognized by various international institutions. With clients reaching 14 million as of 2019, FBS has received the title of Most Transparent Forex Broker 2018, Best Investor Education 2017, Best Customer Service Broker Asia 2016, IB FX Program, and many others.

FBS is regulated by IFSC Belize and CySEC Cyprus. This broker has been trusted by millions of traders and 370 thousand partners from various countries. Based on their data, FBS garners about 7,000 new traders and partner accounts every day. And, 80% of the clients stay in the FBS for a long time. No wonder the broker is growing rapidly due to the incredible growth in the number of clients.

Trading products offered by FBS range from forex, CFD, precious metal, and stock. For forex trading, CySEC-regulated FBS offers leverage up to 1:30 on Cent and Standard Accounts. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.

In all types of accounts, provided spreads start from 1 pip. On a standard account, volume orders can be made from 0.01 to 500 lots. Therefore, this account is recommended for experienced traders.

Whereas on Cent Accounts, volume orders can be carried out with a maximum of 500 cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading tools: 28 currency pairs and 2 metals.

Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i.e Standard and Cent.

FBS uses the MetaTrader 4 and MetaTrader 5 platforms. They offer them on Windows and Mac as well as Android and iOS mobile. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time.

MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors (EA) and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.

Another advantage provided by FBS is a deposit bonus of 100% for clients who fulfill certain requirements. The process of depositing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than 3-4 hours, except on holidays.

To increase the security of client funds, FBS also provides segregated account where 70% of funds can be deposited in the client bank. This broker also presents something unique; a guarantee 10% to 100% of the deposit fund. If a trader loses funds during a transaction but is insured, FBS will refund the trader's funds.

Traders also have the opportunity to develop a side business when trading with FBS, namely as an Introducing Broker (IB) or Affiliate. The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income.

Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course. The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.

Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Available languages include English, Dutch, Italian, French, Portuguese, Indonesian, Spanish, and others. Live chat support is also provided 24 hours 7 days a week.

In conclusion, FBS is a widely known broker among retail traders around the world. It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages.

 

Tickmill

The lowest spread on Tickmill is 0.0 pips, making it one of the best CySEC brokers for beginners. But that isn't the only good thing about this broker. Tickmill is very serious about giving the best education to their traders. Not only do they come with webinars, but they are also available in multiple languages including German and Spanish. Furthermore, Tickmill provides video tutorials to help traders understand the basics of trading.

Tickmill Specifications

🌐 Website
tickmill.com
Leverage
1:500
💼 Regulation
💲 Min Deposit
$100
Year Established
2014

Bonus offers
Trading contests
Free education
Trading by telephone
PAMM accounts
MAM accounts
Segregated accounts
Affiliate program
Islamic accounts available
FasaPay
Neteller
QIWI
Skrill
WebMoney
Wire transfer

Tickmill is an award-winning global ECN broker, authorized and regulated by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus, and the FSA of Seychelles. Founded in 2014, it offers its retail and institutional clients various trading services with a prime focus on forex, stock, commodities, CFDs, and metals.

For traders who prioritize the value of spreads in broker selection, Tickmill provides excellent services with low spreads, starting from 0.0 pips.

The London-based company has a mission to provide clients with the best possible trading environment, so clients can focus on trading and become successful traders. One way to reach its mission is to offer a fast-execution of 0.15s. With this facility, it's no wonder that Tickmill gets the 2019 Best Forex Execution Broker award by the CFI.co Awards. Also, Tickmill received the achievement as Best CFD Broker Asia 2019 by International Business Magazine, the Best Forex Broker Asia, and the Most Transparent Broker 2019 by Forex Awards.

After registering in Tickmill, traders can choose the most ideal asset among 60 currency pairs that they can trade. If traders aren't sure yet to open a real account, Tickmill recommends learning to trade through a demo account.

There are also educational features such as Webinars, Seminars, Ebooks, and Video Tutorials. All of these facilities can be used by traders to increase knowledge about trading and the financial market as a whole. If traders already have enough knowledge, they have a greater opportunity for earning profit consistently.

For traders registered in real accounts, they can choose between provides three types of accounts, including Pro Account, Classic Account, and VIP Account. Traders can open positions with a minimum order of 0.01 Lots. This applies to all types of accounts.

The company provides recommendations for traders who are still confused when choosing an account. For example, for novice traders, Tickmill encourages clients to choose a Classic Account. It offers optimal conditions with fast order execution while enabling traders to use virtually any trading strategy. Additionally, the account is trade commission-free so traders only pay the bid/ask spread. Other than the 3 main accounts above, Tickmill also provides an Islamic account (swap-free).

The downside is, trading with Tickmill will only enable traders to use MetaTrader 4 as their offered trading platform. Although not much if compared to other brokers, the Tickmill platform provides a user-friendly and highly customizable interface, accompanied by sophisticated order management tools to help traders control positions quickly and efficiently.

The convenience of trading on Tickmill is enhanced by the existence of One-Click EA integrated on MT4. Traders will get Stop Loss and Take Profit calculations automatically. On top of that, Tickmill provides a VPS hosting for automated traders that can't be bothered with technical problems such as troublesome internet connection.

They offer several third-party research solutions, including Autochartist, which is a popular pattern-recognition software that uses automated technical analysis to make forecasts and generate trading signals. Autochartist is available both in Tickmill's web portal and as a platform plugin for MetaTrader 4.

As a Tickmill client, a trader can deposit and withdraw with a variety of payment methods, including Visa, Mastercard, bank transfer, and Skrill. Tickmill accepts deposits and withdrawals in 4 currencies, which include USD, EUR, GBP, and PLN.

Overall, Tickmill is a competitive broker in spreads and provides a safe trading environment with its regulated entities in three different jurisdictions. Although their trading platform is not outstanding, the analytical tools they present to equip traders' needs are considered by retail broker standards.

 

FP Markets

FP Markets offers 0.0 pips spread for their traders, in addition to routinely held webinar programs for educational purposes. These programs are available in many different languages including English, Spanish, Arabic, and many more. They also offer video tutorials on how to use trading platforms. Traders can contact their customer service using a variety of methods including live chat, phone, and email.

FP Markets Specifications

🌐 Website
www.fpmarkets.com
Leverage
1:500
💼 Regulation
💲 Min Deposit
$100
Year Established
2005

Bonus offers
Free education
Personal manager
Trading by telephone
PAMM accounts
MAM accounts
Segregated accounts
Affiliate program
Islamic accounts available
FasaPay
Neteller
Skrill
Wire transfer

 

To Conclude

While there are debates about which regulatory body is the best, CySEC brokers remain to be one of the most popular among traders. The agency's mission is to provide effective supervision to ensure trader protection. As an independent regulatory authority, CySEC will make sure that their members behave according to their rules. But, regulations aren't the only thing to consider about when choosing brokers. Traders should also consider their needs to help them get the best result in trading. For better guidance, here is a comparison of some CySEC brokers listed above.

Compare IC Markets XM FBS
General Rating 4.23/5
3.42/5
3.28/5
Trustpilot 4.9/5

rated by 24082 users
2.1/5

rated by 255 users
2.6/5

rated by 307 users
💼 Regulation
⌛ Established 2007 2009 2009
💲 Min Deposit $200 $5 $1
⚖ Max Leverage 1:500 1:888 1:3000
🔢 Spread Variable Variable Variable
💸 Commissions $3.50 $3.50 $6
💡 Min Position 0.01 lot 0.01 lot 0.01 lot
💳 Payment Crypto, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer CashU, Credit/debit cards, FasaPay, giropay, iDEAL, Moneta.Ru, Neteller, paysafecard, QIWI, Skrill, SOFORT, UnionPay, WebMoney, Western Union and Wire transfer Credit/debit cards, FasaPay, Local bank transfer, Neteller, Perfect Money, Skrill, UnionPay and Wire transfer
🏢 Office(s) AustraliaCyprusBahamasChinaEuropean areaHong KongIndiaIndonesiaRussian FederationSpainThailandTurkeyUnited Arab EmiratesUnited Kingdom AustraliaGermanySpainItalyCyprusUnited KingdomNew ZealandBelizeEuropean areaFrance AustraliaCyprusSouth AfricaBelizeUnited Kingdom
🧩 Forex Demo Account
📁 Segregated Account
🕋 Islamic Account
👨‍💻 PAMM Account
📈 Managed Account
💱 Hedging
🇺🇸 US traders are welcome
🕛 Swaps
🏆 Trading contests
⚡ Automated trading
💹 Interest rate on funds
💰 Bonus offers
📖 Free education
📱 Mobile trading
💻 Browser-based platform
1️⃣ One-click trading
⏱ Trailing stop
⏳ Pending orders
ForexForex
cfdCFD
IndexesIndexes
Spread BettingSpread Betting
Gold & SilverGold & Silver
CryptocurrenciesCryptocurrencies
stocksStocks
oilOil
MetalsMetals
EnergiesEnergies
FuturesFutures
etfETF
OptionsOptions
AgricultureAgriculture
BondsBonds
Binary OptionsBinary Options
IndicesIndices
CommoditiesCommodities
SharesShares
Physical StockPhysical Stock
Stock CFDStock CFD
🗣 Website Languages Arabic, Chinese, English, German, Indonesian, Japanese, Korean, Malay, Portuguese, Russian, Spanish Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Turkish Arabic, Bengali/Bangla, Burmese, Chinese, English, French, German, Indonesian, Italian, Japanese, Korean, Laothian, Malay, Portuguese, Spanish, Thai, Turkish, Urdu, Vietnamese
🚪 Open Account Open IC Markets Open XM Open FBS


Besides CySEC, FCA is also considered a trusted regulations body. Some traders even prefer this financial authority over other regulatory bodies. But, is there any broker for beginners under FCA? As a matter of fact, you can find the list in this article.