Forex brokers regulated in Seychelles

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If your passion for trading foreign exchange and CFDs hasn’t been satisfied by online trading sites, you might want to consider switching to brokers who offer their services in a remote location. Seychelles is an archipelago in the Indian Ocean which is home to many financial service providers. In fact, brokerages that offer offshore accounts, or those that are not based on the territory of any country, are known as “non-resident” entities.

If you’re looking for a reliable forex broker regulated in Seychelles, we’ve prepared a guide to the top companies to help you make a decision.

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Warning:

There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What Is FSA Regulation?

The regulation of the Financial Services Authority (FSA) of Seychelles has become increasingly important in recent years. The FSA is a government authority that’s responsible for regulating the financial services sector and safeguarding the interests of financial services customers in Seychelles. It is an autonomous body that’s supported by the Ministry of Commerce.

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List of FSA Regulated Brokers

IC Markets

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Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) Financial Services Authority (FSA) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.

Exness

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Your capital is at risk.
You can lose your money.

Exness Trading Company has been working in the Forex market since 2008. The broker’s activity is managed by Nymstar Limited, a company registered in the Republic of Seychelles. The service is regulated by licenses of CySEC (Cyprus Securities Commission), FCA (Office of Financial Regulation and Supervision of Great Britain) and FSA (Office of Financial Regulation and Supervision of the Republic of Seychelles). The broker holds the leading position in Forex ratings. The company’s monthly trading turnover totals $325.8 billion USD. The broker currently has CFDs available for cryptocurrency, stocks, more than 120 currency pairs, energy and metals. Exness’s service provides favorable working conditions for traders: low commission, instant execution of orders and withdrawal of funds. An infinite leverage makes it possible to earn on small deposits up to $999. There are several options for opening an account depending on the traders’ needs. A demo account is available - a training account that is useful for both beginner level traders and professional traders.

Tickmill

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Your capital is at risk.

Tickmill brokerage introduces a new standard in the provision of brokerage services. The focus on innovation is what the company is proud of and why traders choose it. The trading conditions of the broker are appreciated by fans of scalping and passive trading with the help of robots because Tickmill provides minimal spreads. The company has earned many awards. Thus, for two years in a row (2018 and 2019), it was awarded the “Best Execution Broker” title, and it also won the “Most Transparent Broker” title in 2019.

HFM (HotForex)

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Your capital is at risk.
71.24% of retail investor accounts lose money when trading CFDs with this provider.

HFM is a broker owned by the HF Markets Group, offers a wide variety of account types, and has the widest selection of trading assets and high-quality software. HFM also has favorable trading conditions and instant execution of orders. Plus, a solid list of tools and services allow everyone to choose the best option. The broker's reliability is confirmed by the license of several regulators. The company's work experience in the financial, brokerage and other services market is over 10 years. Within that time, HFM has received 35 prestigious awards. For trading, MetaTrader 4 and MetaTrader 5 trading terminals are used.

Admiral Markets

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Your capital is at risk.

The Admiral Markets broker company commenced operations in 2001. The broker’s activities are registered and licensed by the Australian Securities and Investments Commission (ASIC). Admiral Markets now operates in more than 40 countries with a cash cycle of up to USD 40 billion. The broker holds a lifetime license issued by the Federal Financial Markets Service. It is also regulated by the Financial Conduct Authority (FCA). Access to the FX+Project as one of their specific features. In 2002 Admiral Markets was awarded the “Forex 2012” (“Best of the Best”) by The New Europe Magazine.

Alpari

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Your capital is at risk.

The Alpari broker has been providing financial services in the international foreign exchange market since 1998. The company's services include both active Forex trading and investment offers. The broker is registered in the territory of Saint Vincent and the Grenadines. Its license is № 20389 IBC 2012, issued by the Registrar of International Business Companies. The Company is also a member of The Financial Commission, which handles the settlement of disputes worldwide between brokers and their clients. The broker has received more than 30 awards, including Forex Expo Awards (2011, 2012, 2014), International Finance Magazine Awards (2013), and FX Empire Awards (2017).

JustForex

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Your capital is at risk.

JustForex is a brand owned by IPCTrade providing services of online Forex trading and access to various classic financial instruments.

The brokerage company focuses on classic assets, therefore offering its clients access to trading currency pairs, cryptocurrency, futures and indices. A distinguishing feature of JustForex is a mixed business model that allows the company to conduct both brokerage and dealing activities.

JustForex tries to follow the latest software development standards, focuses on high order execution speed and continuous improvement of the services it provides.

How to Check FSA Regulation

There are generally two ways of checking whether or not your prospective broker is regulated by the FSA of Seychelles. The first method is by checking the broker’s website or the “About Us” section. If your broker is regulated by the FSA of Seychelles, it will most likely mention it there. However, the second method for checking is more thorough. To check a broker’s Financial Services Authority (FSA) regulation status, you need to visit the regulator’s website and enter the broker’s name or company name in the relevant search box. If the company is listed as being regulated by the FSA of Seychelles, you will see the relevant details.

Here are more in-depth instructions on how to check a broker’s FSA regulation:

  • Visit the Forex broker’s website. To find out more about the forex broker you've chosen, visit its official website. Among the information may be the company name, license number, and address. The regulator, license number, and name of the company are usually found in the disclaimer section or footer at the bottom of the homepage. A licensed forex broker's website usually displays the license information and the company's name. You should double-check the broker's legality if you are unable to locate this information.

  • Visit the regulator’s website. On the broker's website, copy either the license number or the company name. Afterward, visit the regulator's (FSA) official website to access the search page. You will then need to enter the information that you are looking for (such as a company name or license number) in the search box. Make sure you enter the company name instead of the brand name or website name of the forex broker.

  • Check the company status. Your forex broker should appear in the search results if it is licensed by the FSA. Other information regarding the company and its license can also be found here, including the broker status. You can contact the FSA directly from the website or via email if you have any additional questions. In addition, you can request more information about the forex broker from the company.

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FSA Regulated Brokers Trading Limitations

Trading limitations are regulatory limitations that are imposed on financial service providers. They are put in place to ensure the safety of both the providers and the customers. It is a common misconception that every broker that is regulated by the FSA can offer you the same trading conditions. That is not the case. The FSA imposes trading limitations on brokers that are regulated by it.

Depending on the jurisdiction, the trading limitations may be different. For example, if a broker is based in Seychelles, the regulatory body that oversees it is the FSA. If you are a citizen of Seychelles island, you can trade with this broker. However, if you are a U.S. citizen, you can’t trade with this broker because the regulatory body that oversees it bars U.S. citizens from doing so.

How to Choose an FSA (Seychelles) Regulated-Broker

Reliability

There are many ways to check the reliability of an FSA forex broker. One of the most important things that you need to do is to check its online reputation. You can do this by reading online reviews and discussion forums to find out what other traders think of the broker. You can also visit forex review websites to find out more about the broker. In addition, you can check whether the broker is a member of any industry associations. If it is, you can find out more about it by visiting the association’s website.

Trading Fees

Trading fees are the main source of profit for forex brokers. It is very important that you choose a broker that charges low trading fees. You can check the trading fees at any given broker by comparing them with those of other brokers. If you want to make sure that you get the best deal, you should check the trading fees at different brokers before choosing one. You should also keep in mind that some brokers offer discounts on their trading fees for new traders. You should check if the broker you want to trade with has a forex promotion that offers lower fees for new traders.

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Supported Assets

Not all assets are traded equally. Some assets are traded more frequently than others, and some assets are also more volatile than others. The selection of assets that a broker offers can have a major impact on your trading experience. Before choosing a broker, you should check which assets it offers. You should check which types of assets the broker offers, and you should also check the availability of these assets. The more assets a broker offers, the better the trading experience will be for you. However, you should also keep in mind that the more assets a broker offers, the less liquidity these assets will have.

Trading Platforms

The trading platforms of brokers are very important. The trading platforms that a broker offers can have a major impact on your trading experience. You should check the trading platforms that a given broker offers before you choose it. You should check the features that these platforms have to make sure that they meet your needs. There are many different trading platforms available, including MetaTrader 4 and 5, CTrader, and you can choose from among them. The trading platforms that are available depend on the broker you choose. The better the trading platforms are, the better the trading experience will be.

How to Choose a Forex Broker?

Conclusion

Seychelles is a popular jurisdiction for forex brokers to be regulated by. The Financial Conduct Authority is a financial regulator in the United Kingdom that regulates many forex brokers. You can make sure your chosen forex broker is FSA regulated by visiting its website. You can also ask the broker if it is regulated by the FSA. When choosing an FSA regulated broker, you must first find out if your country is on the list of approved countries. You can also use online broker reviews to know how reputable your broker is.

FAQ

What is the FSA?

In the Seychelles, the Financial Services Authority (FSA) regulates all non-banking financial companies and individuals. Also, it regulates Seychelles-registered online forex brokers.

Do forex brokers have to be regulated?

In some cases, yes. In several countries, strict regulations govern online forex brokers so individuals can trade safely through firms domiciled within their territories. In spite of the misconception that the forex market is unregulated, there are regulations in place to protect the retail forex trader.

How do I find a regulated forex broker?

Regulatory agencies assign unique ID numbers to each forex broker who is licensed and authorized to operate. It should be easy to find the ID number of a regulated broker on their website, since they often display their regulatory information prominently.

How do you check if a forex broker is safe?

There are many ways to check the trustworthiness of a forex broker. You can check your broker's credentials by visiting FINRA BrokerCheck or calling (800) 289-9999. You can also visit the SEC's Investment Adviser Public Disclosure (IAPD) website. You can also contact the securities regulator in your state. To find out what formal actions the SEC has taken against individuals, use the SEC Action Lookup tool.

Methodology for compiling our ratings of Forex brokers

Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.

Key aspects of the assessment include:

Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.

User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.

Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.

Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.

Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.

Other factors like brand popularity, client support, and educational resources are also evaluated.

Find out more about the unique broker assessment methodology developed by Traders Union specialists.

Team that worked on the article

Oleg Tkachenko
Author and expert at Traders Union

Oleg Tkachenko is an economist-analyst and a risk manager with a practical experience of working in financial institutions for over seven years. Oleg specializes in the analysis of commodities, Forex, stock markets and non-standard investment markets (cryptocurrency, hypes, peer-to-peer lending). He holds a Master’s Degree from the Ukrainian Academy of Banking of the National Bank of Ukraine, Kharkiv Banking Institute. Oleg became an author for Traders Union in 2018; in 2020 he joined the TU’s team of financial experts.

At Traders Union, Oleg is involved in expanded reviews of brokerage companies, and in monitoring the relevancy of the information provided in them. He analyzes trading strategies and indicators, and prepares educational articles on the topic of finance. In addition, Oleg carries out expert research in the Forex and stock markets, and also binary options and cryptocurrency markets. In particular, he checks brokerage companies, studies their performance and growth, tests new services offered by brokers, software and the level of customer support.

Oleg’s motto: Information is a force that opens boundless opportunities, but requires relevancy!

Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.

Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.