Four Cyprus-based companies among the ‘Five Best Forex Brokers’ for 2024

No less than four of the five platforms selected by industry experts as the best brokers for 2024 are based and regulated in Cyprus.

According to a recently updated Traders Union article, five platforms stood out among their competitors on broker rankings in 2023, boding well for their performance this year. These are RoboForex, Exness, Tickmill, FxPro, and AAFX. Of these, all but AAFX are connected to Cyprus, being regulated by CySEC and having offices on the island.

Leading the list in Traders Union's 2024 ranking is RoboForex, for which users in Cyprus, are redirected to the RoboMarkets Ltd. website since RoboMarkets is the EU subsidiary of international multi-asset broker RoboForex. The site also notes that "Provided services and trading conditions at RoboMarkets and RoboForex are different."

In its article, Traders Union said that RoboForex platform stood out with both customer and expert reviews of its attainable trading requirements and attractive bonus for deposit offer.

With offices in Limassol, RoboMarkets was Established in 2012 and received its license as a European broker in 2013. RoboMarkets is regulated by the CySEC, under license No. 191/13.

According to its website, RoboMarkets is a multi-asset broker offering more than 3,000 instruments for trading. The company has grown rapidly in the past years, and now provides professional services for institutional and retail clients from Europe.

Exness claimed the second spot, recognized as the best platform offering optimal trading conditions for active traders.

Exness (Cy) Ltd is a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 178/12. It also has offices in Limassol.

Third is Tickmill, a highly regulated and award-winning, multi-regulated Forex and CFD provider Forex broker, has also made Limassol its corporate home. Tickmill Europe Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission as a CIF limited company. License number: 278/15

FxPro, another market favorite, secured the fourth spot with its sophisticated trading instruments and low spread offer. Another company with offices in the district of Limassol, it has License Number 078/07 at CySEC.

Completing TU's top five list is Hong Kong-based AAFX, a broker, according to the expert portal, that is known for zero-fee, zero-commission, and low-margin requirements since its founding in 2014. It is also the only one of the five that does not appear to have a direct connection to Cyprus.

As noted on its website, Traders Union is a financial portal aiming to provide traders and investors with the necessary information to make their endeavours in the financial markets profitable.