Traders Union experts names the best CySEC-regulated brokers for safe trading

Traders Union experts names the best CySEC-regulated brokers for safe trading

Traders Union experts examined all CySEC-regulated brokers and chose Top-10 of them. Among the leaders of the rating, there are such well-known brokers as IC Markets, Exness, and eToro. The full list can be found at the link above.

Traders Union experts examined all CySEC-regulated brokers and chose Top-10 of them. Among the leaders of the r...

Why is regulation important for every broker? 

The popularity of Forex trading is constantly growing, despite all the risks it comes with. Forex is one of the easiest ways of making money without extra effort. Traders earn money from their homes, using a familiar device and a chosen trading platform. No need to depend on anyone, or to go to an office every morning — all they need is trading skills and analytical thinking. 

But where big money is — there will always be scammers, willing to cash in on the inexperience of novice traders. Thus, conscious traders always get information about how the broker is regulated, before entrusting their funds 

The main task of regulators is to prevent a situation where a broker is unable to fulfill its obligations to traders. The regulator provides legal protection for traders and investors in case of disputes and investigates their complaints.

What is CySec? 

Today, many Forex brokers seek to obtain a CySEC (Cyprus Securities and Exchange Commission) license, even if they were not originally registered in Cyprus.

CySEC is a reputable European regulator founded in 2001. It was created before the integration of Cyprus with the European Union. Today CySEC controls the entire financially active sector of Cyprus, including all investment companies registered in the Republic, as well as Forex companies. The regulator monitors the work of investment firms to ensure that they comply with the directives of the legislative and regulatory framework of both Cyprus and the European Union. This public body holds control over the actions and operations of the stock exchange. When violations are detected, CySEC has the right to apply various measures, and administrative or disciplinary sanctions. CySEC can even revoke the broker’s license.

The prerequisites for obtaining a CySEC license are:

  • At least three years of experience in the market;
  • The mandatory initial membership fee to prove the solvency of the broker;
  • Availability of technical tools for high-quality work of the trading platform and user comfort;
  • A representative office in Cyprus.

Therefore, if a broker has a CySEC license, this is already a solid motive to trust him.

IC Markets is recognized as the best broker regulated by СySEC

After analyzing all CySEC-regulated brokers, Traders Union analysts came up with a clear choice. IC Markets offers The best conditions, tools, and opportunities for traders. The broker was established in Sydney, Australia in 2007. Now it proposes the lowest spreads, and numerous services and features, useful both for novice and experienced traders. In addition, the broker has an extended library of educational materials and videos.

Risk warnings 

But it is worth remembering that even the most reputable regulator can’t prevent the risk of losing funds. Therefore, traders should only invest in Forex what they can afford to lose. It is dangerous to start trading with a credit load — that may deepen the credit hole. Otherwise, Forex trading is a great opportunity to improve your well-being by choosing a reliable ally.

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Bibliography ►
Phoneia.com (January 19, 2023). Traders Union experts names the best CySEC-regulated brokers for safe trading. Recovered from https://phoneia.com/en/traders-union-experts-names-the-best-cysec-regulated-brokers-for-safe-trading/

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