Broker comparison · CySEC regulated · 2026
CySEC forex broker comparison 2026
Six of the most-used CySEC-regulated forex and CFD brokers compared side by side: eToro, XM, IC Markets, Exness, FxPro, and Plus500. Spreads, minimum deposit, leverage limits, platforms, margin requirements, and investor protections — in one table.
Updated July 2026 · All brokers CySEC licensed · ESMA leverage limits apply to all EU retail clients · Spreads are typical/variable — verify live with each broker
Best for beginners
eToro
CopyTrader, social feed, $50 min deposit. Easiest learning curve of any listed broker.
Best for low spreads
IC Markets
Raw spread from 0.0 pip EUR/USD. True ECN, no requotes, favoured by scalpers.
Best for high volume
Exness
Instant withdrawals, near-zero raw spread, and $4T+ monthly volume track record.
Best platform range
FxPro
MT4 + MT5 + cTrader + own platform. Widest platform selection on this list.
Best for simplicity
Plus500
Proprietary web platform — no MT4/MT5 complexity. FTSE-listed broker, clear interface.
Side-by-side comparison
| Criteria |
eToro |
XM |
IC Markets |
Exness |
FxPro |
Plus500 |
| Overall score |
8.6 |
8.5 |
9.0 |
8.8 |
7.8 |
7.4 |
| CySEC licensed |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Min. deposit |
$50 |
$5 |
$200 |
$1 |
$100 |
$100 |
| EUR/USD spread (typical) |
1.0 pip |
0.6 pip |
0.0 pip* |
0.1 pip* |
0.6 pip |
0.8 pip |
| Commission (round-turn) |
Spread only |
Spread only |
$7/lot |
$7/lot |
$6/lot |
Spread only |
| Max retail leverage (ESMA) |
30:1 |
30:1 |
30:1 |
30:1 |
30:1 |
30:1 |
| MT4 / MT5 |
Own platform |
MT4 + MT5 |
MT4 + MT5 |
MT4 + MT5 |
4 platforms |
Own platform |
| Negative balance protection |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Segregated client funds |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| ICF compensation (EU) |
€20,000 |
€20,000 |
€20,000 |
€20,000 |
€20,000 |
€20,000 |
| Copy trading |
CopyTrader |
Signals only |
Myfxbook API |
Social trading |
No |
No |
| Crypto CFDs |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
* Raw/ECN account. Commission applies. Spreads are typical/variable — verify live on each broker's platform before trading.
Broker profiles
Est. 2007 · Social investing · 30M+ users globally
$50Min deposit
1.0 pipEUR/USD spread
30:1Max retail lev.
€20,000ICF cover
Best for: beginners and passive traders. eToro's CopyTrader lets users automatically mirror the trades of experienced investors. The social feed provides market commentary. eToro does not support MT4/MT5 — trading is done on the proprietary eToro platform. Spreads are wider than ECN competitors, but there are no per-trade commissions. The €50 minimum deposit is among the lowest for a major EU-regulated broker. Full functionality requires a funded account.
Visit eToro →
Est. 2009 · 10M+ clients · 55 countries
$5Min deposit
0.6 pipEUR/USD spread
30:1Max retail lev.
€20,000ICF cover
Best for: platform choice and education. XM offers MT4 and MT5 on desktop, web, and mobile with an extensive library of webinars, daily market analysis, and education resources. The Ultra Low account provides tight spreads (0.6 pip typical EUR/USD) without commissions. The $5 minimum deposit on the Micro account makes XM accessible to traders with very limited starting capital. Over 1,000 instruments across forex, commodities, indices, and equities.
Visit XM →
IC Markets
CySEC · ASIC · SCB
Est. 2007 · True ECN · Raw spreads from 0.0 pip
$200Min deposit
0.0 pip*EUR/USD raw
30:1Max retail lev.
€20,000ICF cover
Best for: active traders and algorithmic strategies. IC Markets is the leading choice for scalpers and algo traders: raw spreads from 0.0 pip with $7 round-turn commission, no dealing desk, and straight-through processing. Available on MT4, MT5, and cTrader. Execution speed is consistently cited among the fastest in the retail market. The $200 minimum applies to the raw account; a lower minimum applies on the standard spread account.
Visit IC Markets →
Est. 2008 · Instant withdrawals · $4T+ monthly volume
$1Min deposit
0.1 pip*EUR/USD raw
30:1Max retail lev.
€20,000ICF cover
Best for: high-volume traders and liquidity. Exness processes one of the highest monthly trading volumes in the retail forex sector. Instant automated withdrawals (24/7, no manual delay) are a standout feature. The $1 minimum deposit removes the capital barrier for new accounts; the Raw Spread account minimum is $200. Swap-free accounts are available for traders requiring Islamic finance compliance. MT4 and MT5 available on all devices.
Visit Exness →
Est. 2006 · 4 platforms · 2M+ clients
$100Min deposit
0.6 pipEUR/USD (std)
30:1Max retail lev.
€20,000ICF cover
Best for: platform variety. FxPro offers four platforms — MT4, MT5, cTrader, and the FxPro proprietary platform — the widest range of any broker on this list. The cTrader option is popular with traders who want depth-of-market visibility and an ECN environment. ECN/STP accounts charge $6 commission round-turn. Strong CySEC and FCA dual regulation, negative balance protection, and segregated client funds.
Visit FxPro →
Plus500
CySEC · FCA · ASIC
Est. 2008 · LON: PLUS · 2,800+ instruments
$100Min deposit
0.8 pipEUR/USD (typ)
30:1Max retail lev.
€20,000ICF cover
Best for: simplicity and transparency. Plus500 operates a clean, beginner-friendly proprietary web and mobile platform — no MT4/MT5 complexity to navigate. 2,800+ instruments across forex, indices, commodities, and individual equity CFDs. No commissions — all trading costs are in the spread. Plus500 is listed on the London Stock Exchange (LON: PLUS), providing a level of public-company transparency uncommon in the retail broker space.
Visit Plus500 →
ESMA margin requirements for EU retail clients (all brokers)
| Instrument category |
Max leverage (retail EU) |
Margin required |
Example: €10,000 position |
| Major forex pairs (EUR/USD, GBP/USD, USD/JPY) | 30:1 | 3.33% | €333 margin |
| Non-major forex pairs / Gold | 20:1 | 5.00% | €500 margin |
| Major stock indices (FTSE 100, DAX 40) | 20:1 | 5.00% | €500 margin |
| Commodities (excl. gold) / Minor indices | 10:1 | 10.00% | €1,000 margin |
| Individual equity and ETF CFDs | 5:1 | 20.00% | €2,000 margin |
| Cryptocurrency CFDs | 2:1 | 50.00% | €5,000 margin |
ESMA limits are the maximum permitted for EU retail accounts. Some brokers apply lower (tighter) limits. Verify current margin requirements directly with your broker before trading.
Frequently asked questions
What does CySEC regulation mean for a trader?
CySEC (Cyprus Securities and Exchange Commission) is an EU-recognised financial regulator operating under MiFID II. CySEC-regulated brokers must: hold client funds in segregated bank accounts; apply ESMA leverage limits for retail EU clients; provide negative balance protection; maintain minimum capital requirements; and participate in the Investor Compensation Fund (ICF), which covers up to €20,000 per retail client if the broker becomes insolvent. All six brokers on this page hold valid CySEC licences. Always verify a broker's licence directly on the CySEC register (cysec.gov.cy) before depositing.
Which CySEC broker has the lowest spread?
IC Markets and Exness both offer raw spreads starting at 0.0 pip on their ECN/raw accounts, but these accounts carry a per-trade commission (typically $6–$7 per standard lot round-turn). On a no-commission basis, XM's Ultra Low account offers EUR/USD spreads around 0.6 pip, which is competitive. eToro and Plus500 embed all costs in the spread, making direct spread comparison to ECN brokers misleading. The true all-in cost depends on trade frequency, lot size, and whether you prefer spread-only or commission+raw pricing.
Can EU retail clients access higher leverage than 30:1?
No — ESMA's product intervention measures cap leverage for retail clients across the EU at 30:1 for major forex pairs, with lower caps for other instruments. These limits apply to all CySEC-regulated brokers when serving EU retail clients. Professional client classification is available to traders who meet at least two of three criteria: significant trading frequency (10+ large transactions per quarter over 12 months), financial portfolio over €500,000, or relevant professional experience in financial services. Professional clients can access higher leverage but lose certain protections including negative balance protection under CySEC rules.
Is the Investor Compensation Fund (ICF) reliable protection?
The ICF covers up to €20,000 per retail client if a CySEC-regulated broker becomes insolvent and cannot return client funds. This is separate from negative balance protection, which is a real-time trading safeguard. The ICF provides a safety net for the event of broker insolvency — it does not cover trading losses. For context, the UK's FSCS equivalent covers up to £85,000 per client, which is substantially higher. The ICF has been used in past CySEC broker failures to return client funds within its coverage limits.
Risk and editorial disclosures. Trading forex and CFDs involves significant risk of loss. Between 74–89% of retail investor accounts lose money when trading CFDs with leverage. CompareFX editorial opinions are independent. Some links on this page are affiliate links — CompareFX may earn a commission at no additional cost to you. Broker data (spreads, fees, leverage) changes frequently — verify directly with the broker before depositing funds. Regulation details correct at time of publication. ICF cover applies to EU retail clients of CySEC-regulated entities. This page does not constitute financial advice.
Full affiliate disclosure. Michalvi Empire LTD (HE 493986), Cyprus.