# Forex License

> Forex License is an independent guide to forex and CFD brokerage licences in 16 jurisdictions, grouped by level of regulation, with a comparison table and a licence finder. We deliver licences and companies directly in Mauritius, the Bahamas, the Comoros (Mwali) and Saint Lucia, and in other jurisdictions on request through partners.

Forex License is an independent consultancy and information resource. It is not a regulator, law firm or broker and is not affiliated with any authority named on this site. Licences are granted solely by the competent authorities.

Key facts:
- What we are: An independent guide and consultancy for forex and CFD brokerage licences
- Jurisdictions profiled: 16, grouped into tier-1 onshore, regulated offshore, offshore licences and no-licence routes
- Delivered directly: Mauritius (FSC), the Bahamas (SCB), Comoros – Mwali (MISA), Saint Lucia (IBC)
- On request: Seychelles, BVI, Cayman, Vanuatu, Labuan, Belize, Cyprus, UAE, South Africa, Anjouan, St Vincent, Marshall Islands
- Tools: Comparison table and a four-question licence finder
- Services: Licence strategy, company formation, licence application, officers and office, bank and PSP accounts
- Platform: MT5 licence support through our sister site mt5license.net
- Contact: info@forexlicense.net

## Jurisdiction profiles
- [Mauritius (Regulated offshore)](https://forexlicense.net/mauritius-forex-license/): Forex and CFD brokers in Mauritius usually hold an FSC Investment Dealer licence (Full Service Dealer excluding Underwriting) under the Securities Act 2005, through a company with a Global Business Licence. Expect resident directors, a compliance officer, MLRO and deputy MLRO, an approved auditor and typically 4–8 months.
- [The Bahamas (Regulated offshore)](https://forexlicense.net/bahamas-forex-license/): Forex and CFD brokers in the Bahamas register with the Securities Commission of The Bahamas under the Securities Industry Act 2024, including a registration to deal in CFDs. The SCB expects a CEO, compliance officer, CFD supervisory officer, registered representatives and local presence; timelines are typically 4–9 months.
- [Seychelles (Regulated offshore)](https://forexlicense.net/seychelles-forex-license/): Seychelles licenses forex and CFD brokers with a Securities Dealer licence from the Financial Services Authority under the Securities Act 2007, amended in 2024. Since 2025, licensees need a resident director, at least two resident fit-and-proper persons, a local office and higher capital; timelines are typically 3–6 months.
- [British Virgin Islands (Regulated offshore)](https://forexlicense.net/bvi-forex-license/): BVI forex brokers hold an Investment Business Licence from the BVI Financial Services Commission under the Securities and Investment Business Act 2010, usually Category 1 (dealing in investments, as agent or principal). The BVI has been on the FATF grey list since June 2025, which adds banking friction.
- [Cayman Islands (Regulated offshore)](https://forexlicense.net/cayman-islands-forex-license/): Cayman forex brokers obtain a Securities Investment Business Licence from the Cayman Islands Monetary Authority under the Securities Investment Business Act, covering broker-dealer and market-maker activity. Expect fit-and-proper management, a compliance officer, MLRO and deputy MLRO, local audit and typically 6–12 months.
- [Vanuatu (Regulated offshore)](https://forexlicense.net/vanuatu-forex-license/): Vanuatu licenses forex dealers through the Vanuatu Financial Services Commission under the Financial Dealers Licensing Act, with cumulative licence classes A–D since the 2024 amendment. A local office and staff are required; Vanuatu remains on the EU list of non-cooperative tax jurisdictions (February 2026).
- [Labuan (Malaysia) (Regulated offshore)](https://forexlicense.net/labuan-forex-license/): Labuan licenses forex brokers with a Money Broking Licence under the Labuan Financial Services and Securities Act 2010 and the September 2024 guidelines. The licence is agency-only (no market making), FX-only with a 100:1 leverage cap and aimed at institutional and high-net-worth clients; an operational office in Labuan is required.
- [Belize (Regulated offshore)](https://forexlicense.net/belize-forex-license/): Belize licenses forex brokers through its Financial Services Commission for trading in foreign exchange and derivatives, with securities activity also subject to the Securities Industry Act 2021. Licensees typically need a local office and staff, a compliance officer/MLRO and capital held in a Belize bank.
- [Cyprus (Tier-1 onshore)](https://forexlicense.net/cyprus-forex-license/): A Cyprus Investment Firm (CIF) licence from CySEC is a MiFID II authorisation that can be passported across the EU/EEA. It requires full mind and management in Cyprus, a four-eyes board, compliance, AML and risk staff, EU retail CFD limits and typically 6–12 months; corporate tax rose to 15% from 2026.
- [Dubai & UAE (Tier-1 onshore)](https://forexlicense.net/dubai-uae-forex-license/): Forex brokers in the UAE are licensed by the DFSA in the DIFC (typically Category 3A), the FSRA in ADGM, or onshore by the federal Capital Market Authority, which replaced the SCA on 1 January 2026. All three require full local presence with approved individuals; timelines range from about 3 to 14 months depending on the licence.
- [South Africa (Tier-1 onshore)](https://forexlicense.net/south-africa-forex-license/): South Africa licenses forex brokers through the FSCA: an FSP licence (Category I or II) under FAIS for intermediary services, and an Over-the-Counter Derivative Provider (ODP) authorisation under the Financial Markets Act for firms acting as principal in CFDs. South Africa left the FATF grey list on 24 October 2025.
- [Comoros – Mwali (Offshore licence)](https://forexlicense.net/comoros-mwali-forex-license/): The Mwali International Services Authority (MISA) on the Comoros island of Mwali issues international brokerage licences to Mwali IBCs within weeks, without local substance. The Central Bank of the Comoros has stated that approvals from island authorities have no legal effect in the Union (June 2022, republished December 2025), so recognition by banks, PSPs and platforms is limited.
- [Comoros – Anjouan (Offshore licence)](https://forexlicense.net/anjouan-forex-license/): The Anjouan Offshore Finance Authority (AOFA) on the Comoros island of Anjouan markets forex and brokerage licences issued within weeks. The Central Bank of the Comoros named the AOFA in its June 2022 warning that island approvals have no legal effect, republished in December 2025, and a 2025 press investigation examined Anjouan licensing.
- [Saint Lucia (No FX licence)](https://forexlicense.net/st-lucia-forex-license/): Saint Lucia has no forex or CFD brokerage licence; the Financial Services Regulatory Authority warns that forex business is not licensed there. Brokers and prop firms use a Saint Lucia International Business Company with trading objects and a legal opinion, formed in about 3–5 business days, mainly to support an MT5 licence application; it must never be presented as regulated.
- [St Vincent & the Grenadines (No FX licence)](https://forexlicense.net/st-vincent-forex-license/): St Vincent and the Grenadines does not regulate or license forex brokers. Since January 2023 the FSA requires SVG business companies and LLCs engaged in forex to file a certified foreign licence (or a letter from the relevant authority), so SVG no longer works as a standalone broker base.
- [Marshall Islands (No FX licence)](https://forexlicense.net/marshall-islands-forex-license/): The Marshall Islands has no securities or forex regulator that licenses offshore brokers; brokers simply register a non-resident domestic corporation or LLC in days. There is no licence, no investor protection and limited acceptance by banks, PSPs and platform vendors.

## Tools
- [Compare Jurisdictions](https://forexlicense.net/forex-license-comparison/): Compare 16 forex licence jurisdictions side by side: regulator, licence type, tier, speed, reputation, substance, cost of ownership and EU passporting.
- [Licence Finder](https://forexlicense.net/which-forex-license/): Answer four questions about your target clients, priorities, substance and platform needs, and get a shortlist of suitable forex licence jurisdictions.
- [Jurisdictions](https://forexlicense.net/jurisdictions/): Profiles of 16 forex licence jurisdictions grouped by level of regulation: Cyprus, Dubai, South Africa, Mauritius, Bahamas, Seychelles, BVI, Cayman, Vanuatu, Labuan, Belize, Comoros and more.

## Services & topics
- [Licence Types](https://forexlicense.net/forex-license-types/): The main types of forex and CFD licences: market maker (dealing on own account), STP/agency broker, securities dealer, broker-dealer, investment dealer, and how they differ in capital, substance and permissions.
- [Fastest Forex Licences](https://forexlicense.net/fastest-forex-licenses/): The fastest routes to a licensed or MT5-ready brokerage in 2026: Comoros (Mwali, Anjouan), Saint Lucia IBC, Seychelles and more, with the trade-offs of each.
- [Services](https://forexlicense.net/forex-license-services/): End-to-end forex licence services: jurisdiction strategy, company formation, licence application, local officers and office, bank and PSP accounts, compliance manuals and MT5 licence support.
- [Packages](https://forexlicense.net/packages/): Three ways to work with us: Licence Strategy for choosing a jurisdiction, Offshore Set-up for a fast launch, and Regulated Licence for Mauritius, the Bahamas and other regulators.
- [How It Works](https://forexlicense.net/how-it-works/): How we take you from first call to a licensed brokerage: consultation, shortlist, proposal, due diligence, company and application, regulator review, licence and launch.
- [About](https://forexlicense.net/about/): Forex License is an independent guide and consultancy for forex and CFD brokerage licences, working with licensed partners in Mauritius, the Bahamas, the Comoros, Saint Lucia and beyond.

## Guides
- [How to Choose a Forex Licence Jurisdiction in 2026](https://forexlicense.net/guides/how-to-choose-forex-licence/): A practical framework for choosing a forex licence: target clients, business model, recognition, speed, substance, banking and total cost of ownership, applied to 16 jurisdictions.
- [How to Get a Forex Licence: Step by Step](https://forexlicense.net/guides/how-to-get-forex-licence/): The steps to obtain a forex or CFD brokerage licence: choosing a jurisdiction, forming the company, preparing the business plan and manuals, fit-and-proper checks, regulator review, capital and launch.
- [Forex Licence Application Documents: The Complete Checklist](https://forexlicense.net/guides/forex-licence-application-documents/): The documents regulators usually ask for in a forex licence application: corporate documents, business plan, manuals, fit-and-proper files, source of funds, organisation chart and more.
- [Market Maker vs STP Licence: Which Do You Need?](https://forexlicense.net/guides/market-maker-vs-stp-licence/): The difference between a market-maker (dealing on own account) and an STP/agency forex licence: permissions, capital, risk management, conflicts of interest and how regulators classify them.
- [Offshore vs Onshore Forex Licence: Pros, Cons and Who Needs Which](https://forexlicense.net/guides/offshore-vs-onshore-forex-licence/): How offshore forex licences (Mauritius, Seychelles, BVI, Comoros) compare with onshore licences (Cyprus, UAE, South Africa) on market access, recognition, speed, substance and running costs.
- [Forex Licences Without Local Substance: What Really Exists in 2026](https://forexlicense.net/guides/forex-licence-without-substance/): Which forex licence routes still work without a local office or resident staff, what the trade-offs are, and why regulators keep tightening substance requirements.
- [Bank Accounts and Payment Providers for Licensed Forex Brokers](https://forexlicense.net/guides/forex-broker-bank-account/): How licensed forex brokers open corporate bank accounts and payment provider accounts, what banks check, how the jurisdiction affects onboarding, and how to prepare.
- [Licences for Crypto CFD and Multi-Asset Brokers](https://forexlicense.net/guides/crypto-cfd-broker-licence/): Which licences cover crypto CFDs, when spot crypto needs a separate virtual-asset registration, and how multi-asset brokers structure their permissions.
- [Adding a Second Forex Licence: Group Structures That Work](https://forexlicense.net/guides/second-licence-group-structure/): Why brokers add a second licence, common group structures (offshore plus onshore), how clients are allocated between entities and what regulators expect.
- [How Long Does a Forex Licence Take? Timelines for 16 Jurisdictions](https://forexlicense.net/guides/forex-licence-timelines-compared/): Indicative forex licence timelines in 2026, from days for company-only routes to over a year for onshore regulators, and the factors that slow applications down.
- [Are Comoros Forex Licences Recognised? Mwali and Anjouan in 2026](https://forexlicense.net/guides/comoros-licence-recognition/): The facts on Mwali (MISA) and Anjouan (AOFA) forex licences: the Central Bank of the Comoros position, what banks and platforms do, and how to use them responsibly, if at all.
- [Seychelles vs Mauritius Forex Licence: Which Is Better in 2026?](https://forexlicense.net/guides/seychelles-vs-mauritius-forex-licence/): Seychelles FSA Securities Dealer vs Mauritius FSC Investment Dealer: speed, substance after the 2024 Seychelles reforms, recognition, tax and which suits which broker.

## Reference
- [FAQ](https://forexlicense.net/faq/): Answers about forex and CFD licences: which jurisdiction to choose, the fastest and most respected licences, substance, banking, Comoros recognition, MT5 and working with us.
- [Glossary](https://forexlicense.net/glossary/): Definitions of forex licensing terms: market maker, STP, A-book, B-book, passporting, substance, MLRO, fit and proper, CIF, securities dealer, broker-dealer, segregated funds and more.
- [Full text for LLMs](https://forexlicense.net/llms-full.txt): all pages and guides in one Markdown file

## Contact
- [Free consultation](https://forexlicense.net/contact/) — email: info@forexlicense.net
- Related: [MT5 License](https://mt5license.net) — MetaQuotes MT5 licence consultancy (sister site)
- Related: [St Lucia Company](https://stluciacompany.com) — Saint Lucia IBC formation for MT5 applicants

## Languages
- English: https://forexlicense.net/
- Chinese: https://forexlicense.net/zh/
- Hindi: https://forexlicense.net/hi/
- Spanish: https://forexlicense.net/es/
- French: https://forexlicense.net/fr/
- Arabic: https://forexlicense.net/ar/
- Portuguese: https://forexlicense.net/pt/
- Russian: https://forexlicense.net/ru/
- Japanese: https://forexlicense.net/ja/
- Turkish: https://forexlicense.net/tr/