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They also provide the best signup bonuses for new traders from Cyprus, and are trusted, safe, and have a long term record in the forex world. Regulated — Before any Cypriot trader signs up to a new broker, the trader needs to check if the broker is regulated. A Regulated broker is one that follows the strict rules of the forex regulators to prevent scamming small investors like you and i.
Before creating our list of the best brokers for Cypriots, we had to make sure they were all regulated and trusted brokers. Asset Coverage — Assets are financial instruments available for us to trade on. Most brokers offer all asset types, while some offer a selected range asset type. Offers Mobile Trading — Every Cypriot forex trader needs to have access to the inter-bank market irrespective of which device they own. That is why a lot of Forex brokers choosed to be domiciled in Cyprus.
It is now even more the case due to the fact there are a lots of supplying companies that can serve brokerage firms there, Cyprus is still one of the most attractive country for Forex brokers. From the point of view of a trader, Cyprus-based forex brokers can be well considered. CySEC brokers must conform to the following rules: Funds of traders must be kept in segregated accounts. Financial statements of brokers must be reviewed on a periodic basis. What is Forex? Forex is a global market for the trading of currencies, it is the largest market in the world, opened 24 hours a day from Sunday evening until Friday night.
Forex is also the most liquid financial market, there is a huge trading volume: each day, more than 5 trillion dollars are exchanged, there are always a lot of trades. The common goal of forex trading is to profit from these changes in the value of one currency against another.
All forex pairs are quoted in terms of one currency versus another, Forex trading is the act of simultaneously buying one currency while selling another. Each currency pair has a "base" currency and a "counter" currency.
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