Short answer: Seven of the brokers we track serve EU clients through a CySEC-licensed company in Cyprus: Eightcap, FxPro, IQ Option, NAGA, Pepperstone, Plus500 and XM. ActivTrades, AvaTrade and Darwinex also serve the EU, but through regulators in Portugal, Ireland and Spain.
The list, with CySEC licence numbers
| Broker | Cyprus company | CySEC licence |
|---|---|---|
| Eightcap | Eightcap EU Ltd | 246/14 |
| FxPro | FxPro Financial Services Ltd | 078/07 |
| IQ Option | IQBroker Europe Ltd | 247/14 |
| NAGA | NAGA Markets Europe Ltd | 204/13 |
| Pepperstone | Pepperstone EU Limited | 388/20 |
| Plus500 | Plus500CY Ltd | 250/14 |
| XM | Trading Point of Financial Instruments Ltd | 120/10 |
From our broker data, last verified against each broker’s own disclosures on 21 September 2026. Licence numbers don’t change, but a firm’s permissions can, so check the register before you deposit.
EU brokers regulated elsewhere
| Broker | EU company | Regulator |
|---|---|---|
| ActivTrades | ActivMarkets – Empresa de Investimento, S.A. | CMVM (Portugal), 433 |
| AvaTrade | AvaTrade EU Ltd | Central Bank of Ireland, C53877 |
| Darwinex | Sapiens Markets EU Sociedad de Valores SA | CNMV (Spain), 311 |
What a CySEC licence gets you
- EU-wide rules under MiFID II, and the right to serve clients across the EU through passporting.
- Leverage caps for retail: 1:30 on major currency pairs.
- Negative balance protection and a ban on bonuses for retail clients.
- The Investor Compensation Fund: up to €20,000 if the firm fails and can’t return client money. See fund protection.
- A published loss figure: the percentage of retail accounts that lose money.
Not the only EU regulator
Some brokers serve EU clients through another EU regulator, such as Spain’s CNMV or Germany’s BaFin, with the same EU rules. Cyprus is simply where most forex brokers base their EU company.
How to check it yourself
Search the company on CySEC’s list of regulated entities (cysec.gov.cy), check the licence number and permitted websites. More in how to check a broker’s licence.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
