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To help you find the best online brokers in 2021, we went ahead and did the research for you. First, we selected 98 quality online brokers, then checked and compared basically every aspect of their offering: fees, available markets and products, trading platforms, deposit and withdrawal options and much much more. To be selected best online broker, service providers had to prove their excellence in multiple areas. We dug deep, so you won't have to.

5 brokers made it to the top in Cyprus. We highly recommend all 5 to you. And now, without further ado...

The top 5 picks for best international online broker of 2021 for citizens in Cyprus:

  1. Interactive Brokers is the best international online broker in 2021. Low trading fees. Wide range of products. Many great research tools.
  2. Saxo Bank takes second place. Great trading platform. Outstanding research. Broad product portfolio.
  3. TradeStation rounds out the top three. Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
  4. eToro, numero quattro. Free stock and ETF trading. Seamless account opening. Social trading.
  5. XTB just made it to the list at in fifth place. Low forex CFD fees, commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
Best international online brokers of 2021 for citizens in Cyprus
Broker Info Score Best in
#1 Interactive Brokers International broker providing all asset classes 4.9 Best online broker
#2 Saxo Bank Danish investment bank 4.8 Best forex broker
#3 TradeStation US stockbroker 4.5
#4 eToro Global social trading broker 4.7 Best broker for cryptos
#5 XTB Global CFD broker 4.8 Best CFD broker

What makes a good online broker? Surely, they need to provide great service in all areas. First of all, they need to offer fair fees and have a good safety score. Opening an account and depositing money should also be user-friendly processes. They need to provide access to a wide range of products and have a great platform.

These features are easy to list, but hard to figure out. We test brokers based on more than ~300 criteria with real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.

Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with our in-depth comparison table.

And now, let's see the best international online brokers in 2021 for citizens in Cyprus one by one, starting with the winner, Interactive Brokers.

Interactive Brokers Logo

#1 Best international online brokers for citizens in Cyprus
Interactive Brokers

4.9

Interactive Brokers review summary

 

Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1978. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

Given that the broker has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. The fact that it has a long track record and publicly disclosed financials while being listed on a stock exchange all point to IB being a safe service provider.

Our overall Interactive Brokers rating

Compare this broker to the best Interactive Brokers alternative here.

Recommended for traders looking for broad market access and a professional trading environment

Pros Cons
Low trading fees Complicated account opening process
Wide range of products Complex desktop trading platform
Many great research tools Understaffed customer service

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#1 Interactive Brokers
Fees
4.5

Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
Pros Cons
Low trading fees None
Free stock and ETF trading for US clients
Low margin rates
Interactive Brokers fees
Interactive Brokers Saxo Bank TradeStation eToro XTB
US stock $1.0 $10.0 $1.0 $0.0 $0.0
UK stock $4.2 $11.2 - $0.0 $0.0
EURUSD benchmark fee $10.5 $7.3 - $8.0 $8.3
AUDUSD benchmark fee $8.9 $6.9 - $7.5 $7.2
GBPUSD benchmark fee $8.3 $5.6 - $7.1 $5.8
S&P 500 index CFD fee $2.8 $1.2 - $1.4 $1.5
Europe 50 index CFD fee $3.1 $1.6 - $2.4 $1.8

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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#1 Interactive Brokers
Account opening
3.2

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.
Pros Cons
Fully digital Not user-friendly
No minimum deposit for most account types
Interactive Brokers minimum deposit and time to open an account
Interactive Brokers Saxo Bank TradeStation eToro XTB
Minimum deposit $0 $2,000 $0 $200 $0
Time to open account 1-3 days >3 days 1 day 1 day 1 day

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#1 Interactive Brokers
Deposit and withdrawal
3.0

Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
First withdrawal free each month
Interactive Brokers withdrawal fees and options
Interactive Brokers Saxo Bank TradeStation eToro XTB
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No Yes No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $5 $0

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#1 Interactive Brokers
Markets and products
5.0

At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
Interactive Brokers markets and products
Interactive Brokers Saxo Bank TradeStation eToro XTB
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No Yes Yes
Funds Yes Yes Yes No No
Bonds Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFDs Yes Yes No Yes Yes
Crypto Yes Yes Yes Yes Yes

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#1 Interactive Brokers
Web trading platform
4.0

Interactive Brokers' web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
Pros Cons
User-friendly User experience could be better
Clear fee report
Two-step (safer) login
Best international online brokers for citizens in Cyprus - Interactive Brokers trading platform
Interactive Brokers trading platforms
Interactive Brokers Saxo Bank TradeStation eToro XTB
Web platform score 4.0 stars 5.0 stars 4.3 stars 4.4 stars 4.4 stars
Mobile platform score 3.5 stars 5.0 stars 4.8 stars 4.7 stars 4.4 stars
Desktop platform score 3.8 stars 5.0 stars 2.8 stars - 4.4 stars

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#1 Interactive Brokers
Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.

On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools

There are some drawbacks, though. We weren't satisfied with the quaity of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, the desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers is a great fit for you.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC.
Fees score 4.5 stars
Recommended for Traders looking for broad market access and a professional trading environment

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Saxo Bank Logo

#2 Best international online brokers for citizens in Cyprus
Saxo Bank

4.8

Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).

Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record and a banking background, and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for a great trading platform and solid research

Pros Cons
Great trading platform High bond, options and futures fees
Outstanding research High minimum deposit
Broad product portfolio Lacks live chat and 24/7 availability

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#2 Saxo Bank
Fees
3.3

Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
Pros Cons
Low forex fees Inactivity fee
Low fund fees Custody fee
No withdrawal fee High fees for options&futures
Saxo Bank fees
Interactive Brokers Saxo Bank TradeStation eToro XTB
US stock $1.0 $10.0 $1.0 $0.0 $0.0
UK stock $4.2 $11.2 - $0.0 $0.0
EURUSD benchmark fee $10.5 $7.3 - $8.0 $8.3
AUDUSD benchmark fee $8.9 $6.9 - $7.5 $7.2
GBPUSD benchmark fee $8.3 $5.6 - $7.1 $5.8
S&P 500 index CFD fee $2.8 $1.2 - $1.4 $1.5
Europe 50 index CFD fee $3.1 $1.6 - $2.4 $1.8

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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#2 Saxo Bank
Account opening
2.0

Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.
Pros Cons
Fully digital Minimum deposit is high in certain countries
User-friendly Slow account verification
Available in almost every country
Saxo Bank minimum deposit and time to open an account
Interactive Brokers Saxo Bank TradeStation eToro XTB
Minimum deposit $0 $2,000 $0 $200 $0
Time to open account 1-3 days >3 days 1 day 1 day 1 day

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#2 Saxo Bank
Deposit and withdrawal
4.8

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros Cons
Credit/Debit card available Electronic wallets not available for deposit or withdrawal
Free withdrawal
No deposit fee
Saxo Bank withdrawal fees and options
Interactive Brokers Saxo Bank TradeStation eToro XTB
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No Yes No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $5 $0

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#2 Saxo Bank
Markets and products
5.0

Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds are the only areas where the selection could be improved.
Saxo Bank markets and products
Interactive Brokers Saxo Bank TradeStation eToro XTB
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No Yes Yes
Funds Yes Yes Yes No No
Bonds Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFDs Yes Yes No Yes Yes
Crypto Yes Yes Yes Yes Yes

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#2 Saxo Bank
Web trading platform
5.0

Saxo Bank's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Best international online brokers for citizens in Cyprus - Saxo Bank trading platform
Saxo Bank trading platforms
Interactive Brokers Saxo Bank TradeStation eToro XTB
Web platform score 4.0 stars 5.0 stars 4.3 stars 4.4 stars 4.4 stars
Mobile platform score 3.5 stars 5.0 stars 4.8 stars 4.7 stars 4.4 stars
Desktop platform score 3.8 stars 5.0 stars 2.8 stars - 4.4 stars

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#2 Saxo Bank
Verdict

Saxo Bank is a great broker, providing a complex and good service.

It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by several financial authorities globally, including the top-tier UK FCA.
Fees score 3.3 stars
Recommended for Investors and traders looking for a great trading platform and solid research

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TradeStation Logo

#3 Best international online brokers for citizens in Cyprus
TradeStation

4.5

TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).

TradeStation is considered safe because it has a long track record; discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.

Recommended for traders focusing on us markets and buy-and-hold investing

Pros Cons
Great web and mobile trading platform Not user-friendly deposit and withdrawal
Low trading fees No forex trading
High-quality research and education tools Mediocre customer service

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#3 TradeStation
Fees
4.0

TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals can be costly.
Pros Cons
Low trading fees Withdrawal fee
Low stock and ETF fees / Free stock trading
Multiple fee structures to choose from
TradeStation fees
Interactive Brokers Saxo Bank TradeStation eToro XTB
US stock $1.0 $10.0 $1.0 $0.0 $0.0
UK stock $4.2 $11.2 - $0.0 $0.0
EURUSD benchmark fee $10.5 $7.3 - $8.0 $8.3
AUDUSD benchmark fee $8.9 $6.9 - $7.5 $7.2
GBPUSD benchmark fee $8.3 $5.6 - $7.1 $5.8
S&P 500 index CFD fee $2.8 $1.2 - $1.4 $1.5
Europe 50 index CFD fee $3.1 $1.6 - $2.4 $1.8

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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#3 TradeStation
Account opening
5.0

TradeStation account opening is fully digital, user-friendly and fast. USD is the only available base currency (except for futures accounts).
Pros Cons
Fast None
Fully digital
User-friendly
TradeStation minimum deposit and time to open an account
Interactive Brokers Saxo Bank TradeStation eToro XTB
Minimum deposit $0 $2,000 $0 $200 $0
Time to open account 1-3 days >3 days 1 day 1 day 1 day

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#3 TradeStation
Deposit and withdrawal
2.3

TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; and the fee for wire transfer withdrawals is high.
Pros Cons
No deposit fee Credit/Debit card not available
Deposit and withdrawal in cryptocurrencies High fee for wire withdrawal
ACH withdrawal is free
TradeStation withdrawal fees and options
Interactive Brokers Saxo Bank TradeStation eToro XTB
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No Yes No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $5 $0

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#3 TradeStation
Markets and products
2.8

TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
TradeStation markets and products
Interactive Brokers Saxo Bank TradeStation eToro XTB
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No Yes Yes
Funds Yes Yes Yes No No
Bonds Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFDs Yes Yes No Yes Yes
Crypto Yes Yes Yes Yes Yes

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#3 TradeStation
Web trading platform
4.3

TradeStation has a nice-looking, user-friendly web trading platform with a safe login process
Pros Cons
Clear fee report None
Two-step (safer) login
Good search function
Best international online brokers for citizens in Cyprus - TradeStation trading platform
TradeStation trading platforms
Interactive Brokers Saxo Bank TradeStation eToro XTB
Web platform score 4.0 stars 5.0 stars 4.3 stars 4.4 stars 4.4 stars
Mobile platform score 3.5 stars 5.0 stars 4.8 stars 4.7 stars 4.4 stars
Desktop platform score 3.8 stars 5.0 stars 2.8 stars - 4.4 stars

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#3 TradeStation
Verdict

TradeStation is a great US broker.

The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and of high quality.

On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfers. There is no forex trading, and customer service has room for improvement.

Feel free to try TradeStation if you prefer trading on the US markets.

TradeStation
Summary TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body.
Fees score 4.0 stars
Recommended for Traders focusing on US markets and buy-and-hold investing

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eToro Logo

#4 Best international online brokers for citizens in Cyprus
eToro

4.7

eToro review summary

 

eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.

eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC)-regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its website and does not have a bank parent.

Being regulated by the top-tier FCA and ASIC is a good sign for eToro's safety.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Our overall eToro rating

Compare this broker to the best eToro alternative

Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading

Pros Cons
Free stock and ETF trading High non-trading fees
Seamless account opening Only one account base currency
Social trading Customer support should be improved

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Your capital is at risk

#4 eToro
Fees
4.3

eToro offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee.
Pros Cons
Low trading fees Inactivity fee
Free stock and ETF trading $5 withdrawal fee
Low forex and CFD fees
eToro fees
Interactive Brokers Saxo Bank TradeStation eToro XTB
US stock $1.0 $10.0 $1.0 $0.0 $0.0
UK stock $4.2 $11.2 - $0.0 $0.0
EURUSD benchmark fee $10.5 $7.3 - $8.0 $8.3
AUDUSD benchmark fee $8.9 $6.9 - $7.5 $7.2
GBPUSD benchmark fee $8.3 $5.6 - $7.1 $5.8
S&P 500 index CFD fee $2.8 $1.2 - $1.4 $1.5
Europe 50 index CFD fee $3.1 $1.6 - $2.4 $1.8

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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#4 eToro
Account opening
5.0

Account opening at eToro is seamless and very fast, and the minimum deposit is relatively low for most countries.
Pros Cons
Fast None
Fully digital
Low minimum deposit
eToro minimum deposit and time to open an account
Interactive Brokers Saxo Bank TradeStation eToro XTB
Minimum deposit $0 $2,000 $0 $200 $0
Time to open account 1-3 days >3 days 1 day 1 day 1 day

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#4 eToro
Deposit and withdrawal
3.9

Depositing money is easy, with a lot of available options, although there is a $5 withdrawal fee. As only USD accounts are available, you may pay a high conversion fee if you deposit or withdraw in another currency, like EUR or GBP.
Pros Cons
Credit/Debit card available Only one account base currency
User-friendly $5 withdrawal fee
Conversion fee for non-USD deposits
eToro withdrawal fees and options
Interactive Brokers Saxo Bank TradeStation eToro XTB
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No Yes No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $5 $0

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#4 eToro
Markets and products
4.3

At eToro, you can trade CFDs and forex, as well as real stocks, ETFs and many cryptos. Innovative services like social trading and Smart Portfolios are also available.
eToro markets and products
Interactive Brokers Saxo Bank TradeStation eToro XTB
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No Yes Yes
Funds Yes Yes Yes No No
Bonds Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFDs Yes Yes No Yes Yes
Crypto Yes Yes Yes Yes Yes

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#4 eToro
Web trading platform
4.4

eToro offers a user-friendly and well-designed web trading platform, where social trading is also available. On the other hand, the platform's customizability is limited.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best international online brokers for citizens in Cyprus - eToro trading platform
eToro trading platforms
Interactive Brokers Saxo Bank TradeStation eToro XTB
Web platform score 4.0 stars 5.0 stars 4.3 stars 4.4 stars 4.4 stars
Mobile platform score 3.5 stars 5.0 stars 4.8 stars 4.7 stars 4.4 stars
Desktop platform score 3.8 stars 5.0 stars 2.8 stars - 4.4 stars

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#4 eToro
Verdict

How does eToro work? eToro offers zero-commission stock trading. The account opening is swift and seamless. It has a lot of innovative features, like social trading and copying other (successful) traders. Furthermore, eToro offers many cryptos to trade.

It has some drawbacks, though. There is a $5 withdrawal fee and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high if your funding currency is not USD. It's difficult to contact customer support and their educational materials could be better.

So is eToro good? Overall, we would recommend eToro for its social trading feature, crypto offering and zero-commission stock trading. If you are a long-term stock investor, a traditional stockbroker might make more sense to you as some of the drawbacks of eToro (like not applying reduced withholding tax on US dividends) might outweigh the benefits of free trading.

Risk disclaimer

eToro is a multi-asset platform that offers both investing in stocks and crypto assets as well as trading CFD assets.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro
Summary eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC.
Fees score 4.3 stars
Recommended for Traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading

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XTB Logo

#5 Best international online brokers for citizens in Cyprus
XTB

4.8

XTB is a global CFD broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to regularly disclose its financials.

XTB is considered safe because it has a long track record, is listed on a stock exchange and publishes its financial statements transparently.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service

Pros Cons
Low forex CFD fees, commission-free stocks/ETFs for some High stock CFD fees
Free and fast deposit and withdrawal Product portfolio limited mostly to CFDs
Easy and fast account opening Limited fundamental data

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73% of retail CFD accounts lose money

#5 XTB
Fees
4.3

Forex fees are low, in many cases there's no withdrawal fee, and some clients are eligible for free stock and ETF trading. However, stock CFD fees are high there's an inactivity fee.
Pros Cons
Free stocks/ETFs up to €100k monthly volume High stock CFD fees
Low forex and stock index CFD fees Inactivity fee
Most bank transfer withdrawals are free
XTB fees
Interactive Brokers Saxo Bank TradeStation eToro XTB
US stock $1.0 $10.0 $1.0 $0.0 $0.0
UK stock $4.2 $11.2 - $0.0 $0.0
EURUSD benchmark fee $10.5 $7.3 - $8.0 $8.3
AUDUSD benchmark fee $8.9 $6.9 - $7.5 $7.2
GBPUSD benchmark fee $8.3 $5.6 - $7.1 $5.8
S&P 500 index CFD fee $2.8 $1.2 - $1.4 $1.5
Europe 50 index CFD fee $3.1 $1.6 - $2.4 $1.8

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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73% of retail CFD accounts lose money

#5 XTB
Account opening
5.0

XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
No minimum deposit
XTB minimum deposit and time to open an account
Interactive Brokers Saxo Bank TradeStation eToro XTB
Minimum deposit $0 $2,000 $0 $200 $0
Time to open account 1-3 days >3 days 1 day 1 day 1 day

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73% of retail CFD accounts lose money

#5 XTB
Deposit and withdrawal
4.5

XTB deposits and withdrawals are fast, mostly free and can be done via several channels.
Pros Cons
Credit/Debit card available Few minor account currencies accepted
Deposits/withdrawals are mostly free
E-wallets available
XTB withdrawal fees and options
Interactive Brokers Saxo Bank TradeStation eToro XTB
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No Yes No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $5 $0

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73% of retail CFD accounts lose money

#5 XTB
Markets and products
3.3

XTB's default selection includes only CFDs. Some European clients can also trade real stocks and ETFs. Popular assets like bonds, mutual funds, options or futures are not available.
XTB markets and products
Interactive Brokers Saxo Bank TradeStation eToro XTB
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No Yes Yes
Funds Yes Yes Yes No No
Bonds Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFDs Yes Yes No Yes Yes
Crypto Yes Yes Yes Yes Yes

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73% of retail CFD accounts lose money

#5 XTB
Web trading platform
4.4

XTB's xStation 5 platform is user-friendly, customizable and has a good search function. On the other hand, two-step login is not available.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Best international online brokers for citizens in Cyprus - XTB trading platform
XTB trading platforms
Interactive Brokers Saxo Bank TradeStation eToro XTB
Web platform score 4.0 stars 5.0 stars 4.3 stars 4.4 stars 4.4 stars
Mobile platform score 3.5 stars 5.0 stars 4.8 stars 4.7 stars 4.4 stars
Desktop platform score 3.8 stars 5.0 stars 2.8 stars - 4.4 stars

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73% of retail CFD accounts lose money

#5 XTB
Verdict

XTB is a great CFD broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.

On the plus side, XTB's forex CFD fees are low, while many European clients can enjoy commission-free stock and ETF trading up to a €100,000 monthly trade volume. We also liked that the deposit and withdrawal process is fast and mostly free. The account opening process is seamless, hassle-free and quick.

XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.

We recommend XTB for clients who prefer forex or CFD trading and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.

XTB
Summary XTB is a global CFD broker, listed on the Warsaw Stock Exchange. XTB is regulated by many financial authorities globally, including the top-tier FCA.
Fees score 4.3 stars
Recommended for forex and CFD traders looking for low fees and great deposit/withdrawal service

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73% of retail CFD accounts lose money

Best international online brokers for citizens in Cyprus
What makes a good online broker

Now that you know the top 5, you are probably curious how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?

What is an online broker?

Thirty years ago, if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like characters in the movie 'Wolf of Wall Street'. They were constantly monitoring stock prices while holding the phone and shouting. The Internet changed all that. Nowadays, if you want to invest in Apple shares, you open an online account, deposit money, and set up an order on the brokers' online platform. These platforms are the online brokers. Online brokers help you buy and sell securities like stocks and ETFs. After creating your order, the online broker executes it immediately. It all takes place online.

Are these brokers safe?

We consider each broker on our list safe. You can be sure none of them is a scam. All the brokers featured on BrokerChooser are regulated by at least one authority.

However, brokerage companies can still go bust. Remember the collapse of Lehman Brothers? In such cases, it is important to know what happens with your securities and cash. Your funds are usually held in segregated accounts, so even if your broker goes bankrupt, your funds are safe.

If all goes wrong, and for example, the broker steals your assets, then you have a last resort: the compensation fund of the country where the broker is regulated.

How did BrokerChooser pick the best online brokers?

At BrokerChooser, we test online brokers based on more than ~300 criteria, with real accounts and real money. We don\'t want to overwhelm you, so we will list the five most important criteria.

5 most important criteria for the best online brokers in 2021
1. Fees The trading fees of a typical US equity trade can be 50 times higher at one online broker compared to another. It's definitely worth checking these fees.
2. Account opening Some online brokers require a minimum deposint to start investing while others don't ask for a fix first-time deposit. Check these reuirements at the best online brokers.
3. Deposit and withdrawal At some online brokers, funding and withdrawing funds can take 5 times longer and be much more expensive than at others.
5. Trading platform A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
4. Markets and products You want to invest in Amazon or trade Bitcoin? They might not be available. Check the product lineup before opening an account.

Best international online brokers for citizens in Cyprus
Bottom line

These were the details, now let's zoom out. Here are the best international online brokers of 2021 for citizens in Cyprus:

Best international online brokers for citizens in Cyprus
Interactive Brokers Saxo Bank TradeStation eToro XTB
Overall score 4.9 4.8 4.5 4.7 4.8
Best in Best online broker Best forex broker Best broker for cryptos Best CFD broker
Fees score 4.5 stars 3.3 stars 4.0 stars 4.3 stars 4.3 stars
Account opening score 3.2 stars 2.0 stars 5.0 stars 5.0 stars 5.0 stars
Deposit and withdrawal score 3.0 stars 4.8 stars 2.3 stars 3.9 stars 4.5 stars
Markets and products score 5.0 stars 5.0 stars 2.8 stars 4.3 stars 3.3 stars
Web platform score 4.0 stars 5.0 stars 4.3 stars 4.4 stars 4.4 stars
Mobile platform score 3.5 stars 5.0 stars 4.8 stars 4.7 stars 4.4 stars
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73% of retail CFD accounts lose money

Interactive Brokers is our winner, the best international online broker in Cyprus for 2021. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are considered safe and a great choice. Pick the winner, or any of the runners-up, and take the next step in your investment journey. Let us know what you think in the comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with the help of our in-depth comparison table.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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