What CySEC is
CySEC is the Cyprus Securities and Exchange Commission, the financial regulator of Cyprus. Many forex and CFD brokers that serve European clients hold a CySEC licence as a Cyprus Investment Firm (CIF), so "CySEC regulated broker" is a common claim in broker adverts.
A claim is not a licence. The only reliable check is the register on CySEC's official website. Type the address yourself or use a bookmark. Do not follow a link from a broker, an advert or a chat message, because clone sites copy regulator pages. For more on this, see Clone Sites and Fake Apps.
- Find the company's legal name and licence number on its website.
- Search that number on the regulator's official register.
- Compare the name, website address and contacts with the register entry.
- Check which company would actually serve clients from your country.
- Search the regulators' warning lists for the name and the website.
How to check a CySEC licence
- Get the exact legal name. Find the company name, registered address and licence number in the firm's client agreement or website footer. A brand name is not enough. One brand can use several companies in different countries.
- Open CySEC's official site. Find the section that lists regulated entities. Cyprus Investment Firms are listed there.
- Search by name and licence number. Both should match what the firm told you, letter for letter.
- Read the entry. Check the status (authorised, suspended, withdrawn), the services the firm is allowed to provide, and the official website domains listed for it.
- Compare contact details. If the website, email domain or phone number you were given is not the one listed on the register, treat the contact as a possible clone.
- Check CySEC's warnings. CySEC publishes announcements about unauthorised firms and websites. Search there for the brand name and the domain.
The same steps work for other regulators. See Verify a Broker and Other Regulator Registers.
Reading the result
| What you find | What it means |
|---|---|
| Name, number and domain all match an authorised entry | That Cyprus company holds a CySEC licence for the listed services |
| Name matches, domain does not | Possible clone; contact the firm only through the details on the register |
| Status shows suspended or withdrawn | The firm is not currently authorised by CySEC |
| Brand appears in a CySEC warning | CySEC has flagged it; do not deposit |
| No entry at all | The CySEC claim is not supported |
A valid entry covers the named Cyprus company only. If your account is opened with a sister company registered elsewhere, CySEC rules may not apply to you. This is true for any broker, including Exness: the protection that applies depends on the entity named in your own client agreement.
CySEC forex brokers and clients in Pakistan
A CySEC licence is a European licence. Its client protections are written mainly for clients of that Cyprus entity. These include rules on segregated client funds, leverage limits and access to an investor compensation scheme. Brokers usually serve clients from outside Europe through other group companies.
In Pakistan, the position is set by Pakistani regulators:
- The supervisor is the Securities and Exchange Commission of Pakistan (SECP), with trading in listed securities and commodities only via SECP-licensed securities and futures brokers.
- Per the SECP, lists of licensed brokers are on the PSX and PMEX websites.
- On offshore platforms, per the SECP, offshore forex/CFD platforms operate without regulatory approval in Pakistan.
- It also notes the following: per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.
- On remittances, per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)).
- Also, per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947.
A CySEC entry therefore does not make a firm licensed in Pakistan. For more, see Law and regulators and Offshore vs Onshore.
Leveraged CFD and forex trading can lose money fast, whatever the regulator. A licence controls how a firm must behave. It does not protect you from trading losses.
Warnings and clone firms
Scammers often name a real CySEC licence number on a fake website. Check the domain against the register every time. In Pakistan, the SECP has issued its own warnings: SECP warnings by press release naming platforms (Quotex 09.04.2025; IBKR look-alikes, IGIL Securities, BMA Capital No.108 etc. 22.05.2025; Hillhouse Capital, S-169 Wharton 13.01.2026), none of which names Exness. Do not accuse a firm of fraud on the basis of rumours. Rely on what a regulator has published.
If you suspect a scam, see Scam Warning Signs, Report a Scam and the Broker Checklist. Be careful with anyone who offers to "recover" lost money for a fee. See Recovery Scams.
Frequent questions
How do I do a CySEC register check?
Open CySEC's official website yourself, go to the list of regulated entities, and search by the firm's exact legal name and licence number. Then compare the status, services and website domains with what the firm told you.
Does "CySEC regulated broker" mean I am protected?
Only if your account is with that Cyprus entity, and only within CySEC's rules. Accounts opened with a group company in another country follow that country's rules.
Is a CySEC-licensed broker licensed in Pakistan?
No. Per the SECP, offshore forex/CFD platforms operate without regulatory approval in Pakistan.
The licence number is real but the website looks different. What now?
Treat it as a possible clone. Use only the contact details shown on the register, and check CySEC's warnings for that domain.
Where can I check brokers licensed in Pakistan?
Per the SECP, lists of licensed brokers are on the PSX and PMEX websites. See also PSX basics.
