Skip to content

Jurisdictions

Forex licence jurisdictions, grouped by level of regulation

Start from the level of regulation your business needs, then compare the jurisdictions within it. Every profile follows the same format and links to official sources.

Updated September 25, 2026

In short

Forex licence jurisdictions fall into four levels: tier-1 onshore regulators (Cyprus, UAE, South Africa), regulated offshore centres (Mauritius, Bahamas, Seychelles, BVI, Cayman, Vanuatu, Labuan, Belize), light offshore licences (Comoros – Mwali and Anjouan) and no-licence company routes (Saint Lucia, St Vincent, Marshall Islands).

Tier-1 onshore

Tier-1 / onshore

Onshore regulators such as CySEC, the DFSA or the FSCA. The strongest recognition and, in Cyprus, an EU passport. Months of work, real offices and teams.

Cyprus

Cyprus Securities and Exchange Commission (CySEC)

Cyprus Investment Firm (CIF)

Dubai & UAE

DFSA (DIFC), Capital Market Authority (federal, formerly SCA), FSRA (ADGM)

DFSA Category 3A (or 2); CMA dealing licence or Category 5 introducer; FSRA Category 3A

South Africa

Financial Sector Conduct Authority (FSCA)

FSP Category I/II; ODP authorisation for principal CFD providers

Regulated offshore

Regulated offshore

Established offshore regulators such as Mauritius, the Bahamas, Seychelles, BVI or Labuan. Good recognition with banks and LPs, moderate substance.

Regulated offshoreWe deliver here

Mauritius

Financial Services Commission (FSC)

Investment Dealer (Full Service Dealer excluding Underwriting)

Regulated offshoreWe deliver here

The Bahamas

Securities Commission of The Bahamas (SCB)

Securities firm registration (dealing) with CFD registration

Regulated offshore

Seychelles

Financial Services Authority (FSA) Seychelles

Securities Dealer Licence (plus Securities Dealer’s Representative licences)

Regulated offshore

British Virgin Islands

Financial Services Commission (FSC), British Virgin Islands

Investment Business Licence, Category 1 (Dealing in Investments)

Regulated offshore

Cayman Islands

Cayman Islands Monetary Authority (CIMA)

Securities Investment Business licence (SIBL), broker-dealer category; full or restricted

Regulated offshore

Vanuatu

Vanuatu Financial Services Commission (VFSC)

Financial Dealers Licence (Principal), classes A–D

Regulated offshore

Labuan (Malaysia)

Labuan Financial Services Authority (Labuan FSA)

Money Broking Licence

Regulated offshore

Belize

Financial Services Commission (FSC), Belize

Securities Industry Act registration: trading in securities as principal (market maker) or as agent

Offshore licence

Offshore licences

Light licences from the Comoros islands of Mwali and Anjouan. Very fast, minimal substance, limited and disputed recognition.

Offshore licenceWe deliver here

Comoros – Mwali

Mwali International Services Authority (MISA), island level; not recognised by the Central Bank of the Comoros

Brokerage licence for a Mwali IBC (listed by MISA under “Brokerage Companies”)

Offshore licence

Comoros – Anjouan

Anjouan Offshore Finance Authority (AOFA), island level; not recognised by the Central Bank of the Comoros

“Brokerage License” marketed for forex, CFDs and securities

No FX licence

No FX licence

Companies without an FX licence, such as a Saint Lucia IBC. Fastest route to MT5, but not a regulated brokerage.

No FX licenceWe deliver here

Saint Lucia

None for forex. FSRA states forex business is not licensed; IBCs are registered by the Registry of International Business Companies

None. International Business Company (registration only)

St Vincent & the Grenadines

Financial Services Authority (FSA), SVG: registers companies, does not license forex

None. A foreign licence or approval must be filed since 6 January 2023

Marshall Islands

None for forex; companies registered via the Registrar of Corporations

None

Dominica

Financial Services Unit (FSU) for financial entities other than commercial banks and securities business; ECSRC for securities

None for forex/CFD brokerage. Securities dealing: ECSRC broker-dealer licence

Antigua and Barbuda

Financial Services Regulatory Commission (FSRC): does not regulate CFD trading; ECSRC for securities

None for forex/CFD brokerage. International Business Corporation registration only

Cape Verde (Cabo Verde)

Banco de Cabo Verde (BCV) and the securities regulator AGMVM (Auditoria Geral do Mercado de Valores Mobiliários)

None offshore. Financial intermediaries need authorisation plus prior AGMVM registration

Compare all jurisdictions Try the licence finder

Not sure which licence is right for you?

Tell us your business model and target markets. We will shortlist jurisdictions and send a fixed, itemised proposal.

Free Consultation Try the licence finder