Are forex brokers based in Cyprus safe to deposit funds with and trade?
I know they have to be registered and licensed by CySEC and the EU’s MiFID, how safe are they to use?
Likelihood of them closing up and running off with clients money, or going insolvent?
I check review pages and being a member of forums, I have information who are scam who are not. i.e. I actually need to know that my broker is not scam, thats all. No matter where it is located.
Most of the Cyproit brokers are legit and the fact that none closed down after the banking crisis and fall of liberty reserve tell a lot about funds security.
Before settling on a specific broker, make sure that they are authorized by the FCA and CySEC. Confirm the physical office location and the deposit methods should be to a bank account with the company name.
Hope this helps/
These are brokers based Cyprus:
My broker Hotforex is not regulated by FCA but it’s regulated by FSC and CySEC so I think it’s secure to trade.
I guess its not necessarily the location of the broker, like hotforex is a cysec broker, registered there but bank account are segregated in the UK, and they are doing really good. its a good idea to always check review sites for major issue and legit ones, but yeah i guess most of the brokers there are ok 
Whenever I have looked at review sites I always find conflicting information.
In that case better be safe than sorry. More regulation translates to assurance of fund security and straight forward dealing.
Interesting article…it may no longer be an option anyway
Get Out! CySEC Bans FX Firms From Accepting Non-EU Clients | Forex Magnates
yeah there are a lot of contradicting info, i guess all brokers have pros and cons, for example forexpeacearmy, I check threads, issues and see how the broker deals with it, its like reading a story, what i look for usually is the credibility of the claim and what the broker does about it, technical issues happens, there is no such thing as a 100% broker, but what matters is how the broker responds, I hope it helps.
I know a very good broker based in Cyprus, which offers fixed spreads on all negotiated markets.
Brokers from Cyprus are strongly regulated by rules and regulations, but it does not mean that there is no scammer. My best suggestion to all newbie is that you should open an account to those brokers who have been in this market for very long period of time and who have been doing their business with good reputation.
If I had to pick one Cyprus firm to work with, it would be FXPro. The rest are all suspect. Mostly Market Makers pretending to be ECN’s.
Anybody tried IronFX? They are in Cyprus and looks interesting.