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AuthorAuthor: Jeffrey CammackPublished: Oct 14, 2019
EditorEditor: Alison HeyerdahlUpdated: Dec 11, 2023

Last Updated On Dec 11, 2023

Jeffrey Cammack

The Cyprus Securities and Exchange Commission (CySEC) is the European regulator based in Cyprus. Following the ESMA policies, CySEC ensures that Forex brokers adhere to strict rules to ensure they treat their clients fairly. 

However, not all CySEC-regulated brokers are right for all traders. Some traders may be looking for a beginner-friendly option with low-risk accounts and good educational materials, while others want the lowest possible trading costs, or great trading tools. We have curated a list of the best CySEC brokers for a variety of traders with differing needs.

These are the best CySEC-regulated brokers for 2024 according to our testing and our research.

  • HFM - Best Forex Analysis App
  • XM - Best Education
  • FXTM - Best Broker for Beginners
  • FP Markets - Best MetaTrader Execution
  • FxPro - Best Execution
  • FBS - CySEC Broker with Lowest Deposit Accounts
  • Tickmill - ECN Broker with Lowest Commission
  • XTB - Best Proprietary Platform
  • Skilling - Best CySEC-Regulated cTrader Broker
  • markets.com - Lowest Trading Fees

The best CySEC regulated Forex brokers for 2024

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Broker
Broker Score
Official Site
CySEC License
Min. Deposit
Max. Leverage (Forex)
Beginner Friendly
EUR/USD - Standard Spread
Cost of Trading
EUR/USD - Raw Spread
Total CFDs
Currency Pairs
Platforms
Compare
HFM (HotForex)
4.53 /5
Read Review
Visit Broker >
72.90% of retail CFD accounts lose money
183/12USD 0400:1Excellent1.00 pipsUSD 100.10 pips123053MT4, MT5, HFM Trading App
XM
4.45 /5
Read Review
Visit Broker >
75.33% of retail CFD accounts lose money
120/10USD 51000:1Excellent0.60 pipsUSD 60.60 pips155457MT4, MT5
FXTM
4.37 /5
Read Review
Visit Broker >
81% of retail CFD accounts lose money
185/12USD 102000:1Excellent1.50 pipsUSD 150.00 pips180362MT4, MT5
FP Markets
4.40 /5
Read Review
Visit Broker >
79% of retail CFD accounts lose money
371/18AUD 100500:1Excellent0.10 pipsUSD 70.10 pips1016270MT4, MT5, cTrader, IRESS
FxPro
4.39 /5
Read Review
Visit Broker >
71.58% of retail CFD accounts lose money
078/07USD 100200:1Excellent1.40 pipsUSD 140.40 pips224170MT4, MT5, cTrader, FxProEdge
FBS
4.33 /5
Read Review
Visit Broker >
76% of retail CFD accounts lose money
331/17USD 53000:1Excellent0.70 pipsUSD 70 pips25437MT4, MT5
Tickmill
4.58 /5
Read Review
Visit Broker >
71% of retail CFD accounts lose money
278/15USD 100500:1Excellent0.00 pipsUSD 40.10 pips20962MT4, MT5
XTB
4.39 /5
Read Review
Visit Broker >
78% of retail CFD accounts lose money
169/12USD 0500:1Excellent0.70 pipsUSD 70.70 pips521157xStation5
Skilling
4.37 /5
Read Review
Visit Broker >
73% of retail CFD accounts lose money
357/18EUR 100500:1Excellent0.70 pipsUSD 70.40 pips90573MT4, cTrader, Skilling Trader
Markets.com
4.68 /5
Read Review
Visit Broker >
70.3% of retail CFD accounts lose money
092/08USD 100300:1Excellent0.70 pipsUSD 70.60 pips100956MT4, MT5, markets.com

HFM (Hotforex) – Best Forex Analysis App

Broker Score
4.534.53 / 5
🏦  Min. DepositUSD 0
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage400:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

A CySEC-regulated ECN/STP broker, HFM offers trading on multiple assets, including Forex, metals, energies, indices, and shares.  HFM offers full support for the MT4 and MT5 platforms and numerous trading tools, including Autochartist, VPS services, Premium Trading Tools, and its proprietary HF App.  The HF App helps traders to understand the markets with trading tools and the latest news, updates, and financial analysis. 

The HF App’s analysis tools include Daily Market Analysis, which allows traders to stay on top of market events, a Trading Positions feature, which allows you to track how other traders are reacting to currency and commodity movements, and a Traders’ Board with information on currency movers and live charts of major pairs.  The HF App also allows traders to deposit and withdraw funds, apply technical indicators, copy trade, and create watchlists. 

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Kenyan Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

XM – Best Education

Broker Score
4.454.45 / 5
🏦  Min. DepositUSD 5
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage1000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

XM is a CySEC-regulated market maker broker with an excellent educational and market analysis materials repository.  XM’s educational content focuses on video instruction aimed at traders of all experience levels – beginner, intermediate, and advanced.  XM also provides daily interactive instruction via webinars that are available daily from 08.30 – 16.00 GMT, Monday to Friday. Topics range from the basics of Forex trading to learning how to use multiple time frame techniques with real-time simulated trading conditions.  All webinars are hosted by industry expert analysts.

XM also offers competitive trading conditions on four live accounts.  Minimum deposits start at 5 USD on its entry-level account with a spread of 1.6 pips on the EUR/USD, which is wider than other market makers.  Trading costs improve on its Zero Account, with spreads as tight as 0 pips in exchange for a 7 USD round turn commission.  All accounts offer a maximum leverage of up to 500:1. 

Pros
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
Cons
  • Dealing desk
  • Wide spreads on its entry-level accounts
AlertAccepts Kenyan Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the Belize FSC.

FXTM – Best Broker for Beginners

Broker Score
4.374.37 / 5
🏦  Min. DepositUSD 10
🛡️  Regulated By
💵  Trading Cost 
USD 15
⚖️  Max. Leverage2000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

FXTM is the best CySEC-regulated broker for beginner traders.  FXTM provides a world-class education section for free in 22 languages and a comprehensive market research and analysis unit.  All materials are well-structured and in-depth and comprise several components, including various guides, e-books, articles on Forex trading strategies, educational videos, seminars, and webinars. 

FXTM also offers three account choices: a Micro Account with instant execution and two ECN accounts that execute orders directly to the market.  Spreads start at 1.5 pips (EUR/USD) on the Micro Account, which is wider than other similar brokers, but the minimum deposit requirement is only 50 USD.  Spreads tighten to 0 pips on its Advantage Account in exchange for a commission of 4 USD (round turn) and a minimum deposit requirement of 500 USD.  All accounts offer leverage of up to 1000:1, and traders can use both the MT4 and MT5 platforms. 

Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Copy trading accounts
Cons
  • Expensive withdrawals
AlertAccepts Kenyan Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 2000:1. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.

FP Markets – Best MetaTrader Execution

Broker Score
4.404.40 / 5
🏦  Min. DepositAUD 100
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

FP Markets is a leading CySEC-regulated CFD broker offering trading on both the MT4, MT5, and cTrader trading platforms.  In addition to providing super-fast execution speeds over a dedicated fibre-optic line, it offers versions of the platforms for alternate operating systems, including Mac OS and WebTrader.  Traders also have access to institutional-grade liquidity from multiple execution venues, with no price manipulation, no dealing desk intervention, and no requotes or rejections.

Trading conditions at FP Markets are generally excellent, with tighter than average spreads on two live accounts.  The commission-free Standard Account offers spreads starting at 1.0 pips on the EUR/USD and spreads as tight as 0 pips (EUR/USD) on its Raw Account in exchange for a commission of 6 USD (round turn) per lot. 

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
AlertAccepts Kenyan Clients. Average spread EUR/USD 0.10 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.

FXPro – Best Execution

Broker Score
4.394.39 / 5
🏦  Min. DepositUSD 100
🛡️  Regulated By
💵  Trading Cost 
USD 14
⚖️  Max. Leverage200:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

FxPro is a leading CySEC-regulated market maker broker with no dealing desk intervention.  With full support for the MT4, MT5, and cTrader platforms, FxPro provides low latency, and fast execution on four account types.  Most trades are filled in under ten milliseconds, and trades are executed at one of FxPro’s Equinox Data Centres in either London or Amsterdam. 

At FxPro, each account type is associated with a different platform.  On the MT4 and MT5 accounts, spreads average at 1.84 pips and 1.65 pips on the EUR/USD, respectively, which is higher than other similar brokers.  Spreads tighten significantly on the cTrader account, averaging at 0.31 pips on the EUR/USD in exchange for a commission of 9 USD round turn per lot traded.  FxPro also employs a dynamic leverage model which adapts according to the volume traded.

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
AlertAccepts Kenyan Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

FBS – CySEC Broker with Lowest Deposit Accounts

Broker Score
4.334.33 / 5
🏦  Min. DepositUSD 5
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage3000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

CySEC-regulated since 2017, FBS is a large international broker with low minimum deposits, and two beginner-friendly low-risk accounts. Well-regulated around the world, FBS also holds licences from ASIC in Australia, the FSCA in South Africa, and the IFSC in Belize. The Cent Account has a minimum deposit of 1 USD, the Micro Account is 5 USD, and the Standard Account is 100 USD.

FBS has 100 cryptocurrency pairs to trade at a leverage of 5:1. Cryptocurrencies available include Bitcoin, Ethereum, Litecoin, Dogecoin and Ripple – and many less common crypto coins. FBS is also one of the better brokers in terms of education and market analysis. The education section is helpful and well-structured, and market analysis is frequent and well-explained.

Pros
  • Tight spreads
  • Low minimum deposit
  • Excellent education
  • Excellent market analysis
Cons
  • Limited range of assets
  • Extreme leverage
AlertAccepts Kenyan Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 3000:1. Islamic account available. MT4 & MT5 platforms supported. FBS is regulated by ASIC, CySEC, the FSCA, and the IFSC.

Tickmill – ECN Broker with Lowest Commission

Broker Score
4.584.58 / 5
🏦  Min. DepositUSD 100
🛡️  Regulated By
💵  Trading Cost 
USD 4
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Tickmill is an ECN broker with regulation from numerous authorities, including CySEC and the South African FSCA.  It offers local customer support and a no-deposit bonus for new clients. Assets available to trade include Forex, stock, oil, precious metals, and bonds.  Tickmill has won many awards for its excellent trading conditions, especially its low commissions.  

Tickmill offers three live accounts in addition to a demo account. Spreads start at 1.6 pips on its commission-free Classic Account, which a wider than other ECN brokers, but tighten to 0.1 pips on its Pro Account in exchange for a very low commission of 2 USD per side per lot.  Minimum deposits are reasonable, starting at 100 USD and traders are offered leverage of up to 500:1.  Tickmill only supports the MT4 and MT5 platforms, but it offers lightning-fast execution and low latency trading. 

Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
Cons
  • Limited base currencies
AlertAccepts Kenyan Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

XTB – Best Proprietary Platform

Broker Score
4.394.39 / 5
🏦  Min. DepositUSD 0
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

XTB is a CySEC-regulated STP broker that offers trading on multiple trading instruments, including Forex, indices, commodities, stock CFDs, and cryptocurrencies.  Following a recent decision to move away from MT4, XTB only offers support for its proprietary award-winning proprietary platform, xStation 5.  It offers many of the trading features found in MetaTrader4, introducing sentiment data directly into the platform, powerful charting tools, one-click trading, and real-time performance statistics. 

XTB only offers trading on a single commission-free market execution account with no minimum deposit requirements, leverage of up to 500:1, and spreads that start at 0.80 pips on the EUR/USD, which is tighter than other STP brokers. 

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
AlertAccepts Kenyan Clients. Average spread EUR/USD 0.70 pips on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC

Skilling – Best CySEC-Regulated cTrader Broker

Regulated by CySEC since 2018 and renowned for its transparency and dedication to customers, Skilling is also one of our favourite cTrader brokers. With two cTrader accounts, one aimed at beginners and the other at more experienced traders, Skilling is also the first broker in the world to have full cTrader integration with its own trading platform. The one account, two platforms approach allows traders to move seamlessly between cTrader and Skilling Trader – both on desktop and mobile.

Skilling’s Standard Account requires a minimum deposit of 100 EUR, and offers maximum leverage of 500:1. Spreads here start at 0.80 pips on the EUR/USD. No commission is charged. For more experienced traders, the Premium Account is a commission-based, raw spreads account, with spreads starting at 0.1 pips, 3 USD/lot commission charged. But the minimum deposit is 5000 EUR, so this is probably not an account for beginner traders.

Pros
  • Copy trading accounts
  • Tight spreads
  • Great platform choice
Cons
  • No swap-free account option
  • Limited education
AlertAccepts Kenyan Clients. Average spread EUR/USD 0.70 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 and cTrader platforms supported. Skilling is regulated by CySEC and the FSA-Seychelles.

Markets.com – Lowest Trading Fees

Broker Score
4.684.68 / 5
🏦  Min. DepositUSD 100
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage300:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Markets.com, a leading Forex broker, operates under the strict regulatory oversight of the Cyprus Securities and Exchange Commission (CySEC), ensuring transparency and accountability in its operations. The company’s dedication to maintaining the highest standards of regulatory compliance has been evident since it first received its CySEC license in 2008.

In terms of cost-effectiveness, Markets.com distinguishes itself with its low-cost trading account. Market.com’s Basic Account tier has a minimum deposit requirement of 100 USD, making it accessible to most traders, while its highest tier account (the Platinum tier) is accessible to traders with a 50,000 USD deposit. Spreads are much tighter than other brokers across all account tiers, with spreads that start at 0.6 pips (EUR/USD) on its lowest account tier and lower still on its Platinum Account.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
AlertAccepts Kenyan Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 300:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA.

Broker Regulation and Why it’s Important

Regulators are essential in all financial markets because they set the rules that guarantee a level playing field. They also enforce those rules by requiring members to submit regular reports and have independent audits, most good regulators will also have an investigations department and will conduct unannounced visits to regulated companies to ensure day-to-day operations are compliant. Regulators also have the power to impose penalties on members, including fines, sanctions and even revoking a company’s operating licence, thereby putting them out of business.

What is interesting about the Forex market is that there is no legal requirement for brokers to be regulated. CFD Forex trading is an Over the Counter (OTC) derivatives market – this means that there is no central exchange and no overall regulator with oversight for the market.

Having a wholly unregulated market is a bad idea and leads to massive consumer fraud, as happens on a smaller scale in regions with poorly regulated local Forex industries. Instead of having a single regulator, countries and regions regulate the brokers who reside in their territory. As each regulator has different abilities and priorities, Forex regulation is not uniform, and brokers must abide by different rules depending on which country/countries they are legally resident.

What is CySEC?

CySEC is the financial regulatory agency of Cyprus. It was founded in 2001 and when Cyprus joined the EU in 2004 CySEC became part of the pan-European MiFID (Markets in Financial Instruments Directive). MiFID is an EU law the harmonises regulation for financial services across the member states, allowing for financial firms registered in one state to essentially have a “passport” to operate in all the other EU states.

In terms of the Forex industry, this means that any Forex broker registered in Cyprus can market to, and accept business from, all EU citizens.

As the Cyprus financial regulator, CySEC has many crucial obligations in the financial sector – most of them outside the Forex industry – these are:

  • To review applications for and provide operating licenses to supervised financial companies – and revoke these if necessary.
  • To supervise and regulate the operation of and all transactions on the Cyprus Stock Exchange
  • To carry out all necessary investigations in view of the exercise of its duties under the law as well as on behalf of other foreign competent Authorities.
  • To impose administrative and disciplinary sanctions provided by the law.
  • To issue regulatory Directives and Decisions.
  • To cooperate and exchange data and information with foreign supervisory authorities.

How CySEC protects Forex traders

Most Forex brokers in Europe are based in Cyprus and are subject to CySEC’s regulations, so it follows that many millions of Forex traders are directly impacted not only by CySEC’s rules but also by how well they enforce them. The most important regulatory benefits for customers of a CySEC-regulated broker are as follow:

  • Segregated Funds: All trader funds are kept in a segregated trust account which the broker cannot access. This prevents the broker from using trader funds for operational purposes. It also ensures that in the case of broker bankruptcy, trader funds can be returned.
  • Capital Adequacy: CySEC requires all regulated brokers to hold enough capital to meet the capital adequacy ratio requirement. This decreases the likelihood of broker failure in the event of significant losses.
  • Reports and Auditing: Because brokers are required to submit regular financial compliance reports to CySEC, it is very difficult for brokers to hide any wrongdoing. Similarly, because these brokers are also subject to independent audits and visits from CySEC investigators, any malfeasance will be exposed.
  • Compensation Fund: All CySEC-regulated brokers are required to join the Investor Compensation Fund Scheme. Under this scheme, traders are liable for compensation up to 20,000 EUR in the case of broker bankruptcy.
  • Insurance Coverage: CySEC demands that all licenced brokers maintain insurance coverage of at least 1.5 million EUR for losses resulting from negligence.
  • Transparency: CySEC expects to have a complete overview of all products that a broker is planning to offer, and that these products are the same as the products offered to clients.

These protections are enshrined in regulatory law and brokers who are found to be in contravention are penalised and can even have their operating licence removed altogether.

A useful resource for traders, CySEC hosts an up-to-date list of brokers that are legally allowed to operate in their jurisdiction, if you are concerned that a broker may be operating illegally, check CySEC’s regulated entities list.

CySEC also publishes warnings on unregulated brokers operating illegally, many illegal brokers will often disguise themselves as regulated brokers so it is important to check here if you are concerned.

CySEC and ESMA: Restrictions on Trading Conditions

In March 2018, the European Securities Markets Authority (ESMA – a EU taskforce which examines EU-wide financial risk) announced new regulations on all CFD trading in the EU; these regulations were a directive at the supranational level – meaning that all EU members were required to abide by the regulations and enshrine them in domestic law.

Cyprus, as an EU member state, must also abide by this new set of regulations and all CySEC-regulated brokers will have the following restrictions as a result:

  • Leverage Restriction: Maximum leverage of 30:1 on major currency pairs, 20:1 on all other pairs, 5:1 on equities, 2:1 on cryptocurrencies
  • Negative Balance Protection: All brokers must guarantee negative balance protection for all traders
  • No Bonus: All bonuses, promotions or any other type of trading incentive are banned
  • Margin Call: Brokers will be required to close a client’s open positions when the account equity reaches 50% of the required minimum margin by all open positions.
  • Risk Warning: All brokers will be required to display a standard risk warning showing what percentage of clients lose money with them.

While traders and brokers were unhappy with the restriction on leverage, industry experts agree that the new ESMA regulations protect traders from making huge losses without critically damaging broker profits.

CySEC vs FCA

The Financial Conduct Authority is the United Kingdom’s financial regulator and is generally upheld as the best and strictest national regulatory authority in the world. Most good brokers will be regulated either by CySEC, the FCA or sometimes both.

On paper, there is little difference between CySEC or FCA regulation – though the licencing fee for CySEC brokers is only 7,000 EUR, compared to 25,000 GBP for the FCA. Aside from that, both regulators require segregated accounts, membership of a compensation fund and have high capital adequacy standards. All brokers regulated by both authorities will have the same leverage restrictions and other constraints required by the ESMA regulation – though whether this continues to remain the case once the United Kingdom leaves the EU remains to be seen.

The differences between the two regulators are mainly anecdotal, while the FCA is seen as unimpeachable when it comes to protecting consumers and being tough on brokers, many traders complain that CySEC is too broker-friendly and that it gives away operating licences too easily. CySEC also has a history of being easy on badly behaved brokers, with industry commentators noting that fines being levied by CySEC tended to be smaller than those handed out by other EU regulatory organizations.

But since 2016, CySEC has made sweeping changes to both the registration and regulation processes of all registered entities. Changes include more transparency regarding existing listed entities, tougher fines and regular unannounced onsite visits from CySEC investigators to check compliance. This has led to a surge in broker suspensions and license revoking and CySEC is gradually losing its image as a light-touch regulator.

Conclusion

As the regulator with the most EU registered brokers, CySEC has a critical role in the Forex industry and millions of traders rely on their ability to ensure a fair trading environment.

While in the past, this ability has been questioned, currently CySEC is seen as a leader in the Forex regulatory world and brokers with CySEC regulation should be considered safe and secure places for trading.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. Forex and CFD transactions involve high risk due to the following factors: Leverage, market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection. Traders should not deposit any money that is not considered disposable income. Regardless of how much research you have done or how confident you are in your trade, there is always a substantial risk of loss. (Learn more about these risks from the UK’s regulator, the FCA, or the Australian regulator, ASIC).

Our Rating & Review Methodology

Our State of the Market Report and Directory of CFD Brokers to Avoid are the result of extensive research on over 180 Forex brokers. These resources help traders find the best Forex brokers – and steer them away from the worst ones. These resources have been compiled using over 200 data points on each broker and over 3000 hours of research. Our team conducts all research independently: Testing brokers, gathering information from broker representatives and sifting through legal documents. Learn more about how we rank brokers.

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.

 

Vanessa Marcos
Financial Writer

Vanessa joined the team in 2023. Born and raised in southern Portugal, she has a BA in Journalism and a Master’s in Literary Theory, both from Lisbon University. Since 2011, she has worked in social media, copywriting, content management, ghost-writing, and SEO. Vanessa loves to write, and although she is a generalist in digital marketing, she always draws on her creativity in her work. She is constantly researching new subjects and finds the analytical depth of Forex trading fascinating.

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