| Updated: January 15, 2025In the realm of foreign exchange trading, the Seychelles has emerged as a prominent jurisdiction for forex brokers. The Financial Services Authority (FSA) of Seychelles, established in 2014, is responsible for regulating and overseeing non-bank financial services, including forex trading.
Below you can find a list with the best Forex brokers regulated by the FSA (Seychelles):
Top 7 Forex Brokers Regulated by Seychelles
-
Fusion Markets
- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
-
FP Markets
- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading Instruments- Forex CFDs
- Shares CFDs
- Metals CFDs
- Commodities CFDs
- Indices CFDs
- Crypto CFDs
- ETF CFDs
-
Plus500
- Multi-Level Regulated Broker
- Proprietary trading platforms
- Easy to use mobile app
Trading Instruments- CFDs on: Forex
- Crypto
- Indices
- Commodities
- Stocks
- Options
- ETFs
-
Global Prime
- Australia regulated broker
- Advanced MT4
- $0 Minimum Account Size
-
BlackBull Markets
- Broker boasting lightning-fast execution speed
- ECN brokers with tight spreads from 0.0 pips
- $0 minimum deposit requirement
Trading Instruments- Forex
- Commodities
- Futures
- Indices
- Stocks
- Cryptocurrencies
-
IC Markets
- Offers 2,200+ tradable markets, including 61 currency pairs
- Leverage of up to 1:1000 in select jurisdictions
- EUR/USD spreads from 0.8 pips for standard accounts
Trading Instruments- CFDs on Forex
- Commodities
- Index
- Bond
- Cryptocurrencies
- Stock
- Futures
-
Admirals
- Trade using MetaTrader 4 and 5, as well as Admirals' specialized plugins for additional functionality.
- Access forex, shares, indices, commodities, ETFs, bonds, and cryptocurrency CFDs.
- Admirals is overseen by top-tier regulatory bodies: FCA, ASIC, CySEC, and EFSA, assuring transparency and customer security.
Trading Instruments- CFDs on Forex
- Indices
- Stocks
- Commodities
- Bonds
- ETFs
- Cryptocurrencies
Brokers Compared by Spread
| Brand | Commission per lot | |
|---|---|---|
| Fusion Markets | 0.93 avg (Classic) | $0 Classic Account, $4.50 round turn on Zero Account |
| FP Markets | 1.1 | $0 Standard Account; $6 round turn on Pro Account |
| Plus500 | 1.2 | $0 |
| Global Prime | 0.96 avg (Standard) | $0 Standard Accounts; $7 round turn on Raw Accounts |
| BlackBull Markets | 0.1 | $0 Standard; $6 per lot Prime; $4 per lot Institutional |
| IC Markets | 0.8 | $0 Standard MT; $6 round turn on Raw cTrader; $7 round turn on Raw MT |
| Admirals | 0.1 | $3 per lot |
FX Brokers Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Fusion Markets |  |
$0 |
| FP Markets | |
$50 (AU$100) |
| Plus500 |  |
$100 |
| Global Prime | |
$0 |
| BlackBull Markets | |
$0 (Standard)$2,000 (Prime)$20,000 (Institutional) |
| IC Markets | |
$200 |
| Admirals | |
$100 ($1 for Invest MT5 Account) |
Forex Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Fusion Markets | |
1:30 (1:500 for forex and metals via VFSC) |
| FP Markets | |
1:30 |
| Plus500 | |
1:30 |
| Global Prime | |
1:500 (1:30 for ASIC entity) |
| BlackBull Markets | |
1:500 |
| IC Markets | |
1:30 |
| Admirals | |
1:30 |
Forex Brokers Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Fusion Markets | |
80+ |
| FP Markets | |
70+ |
| Plus500 | |
60+ |
| Global Prime | |
56 |
| BlackBull Markets | |
70+ |
| IC Markets | |
61 |
| Admirals | |
82 |
Comprehensive Comparison of the Best FSA (Seychelles) Forex Brokers
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
 |
$0 |
|
0.93 avg (Classic) |
|
|
 |
$50 (AU$100) |
|
1.1 |
|
|
 |
$100 |
|
1.2 | ||
 |
$0 |
|
0.96 avg (Standard) |
|
|
 |
$0 (Standard)$2,000 (Prime)$20,000 (Institutional) |
|
0.1 |
|
|
 |
$200 |
|
0.8 |
|
|
 |
$100 ($1 for Invest MT5 Account) |
|
0.1 |
|
This page provides detailed information about the best Seychelles forex brokers, highlighting the regulatory framework, laws, and requirements for obtaining a forex license in the Seychelles. Also included are the pros and cons of trading with Seychelles-licensed brokers and the criteria onboarding customers must consider when selecting FSA-regulated trading sites.
Structure and Regulatory Responsibilities of FSA Seychelles
The FSA Seychelles is a regulatory body that supervises and regulates various types of financial services in the island country, including securities, insurance companies, and forex trading. The regulator’s primary objective is to maintain the stability and integrity of the financial system in the Seychelles.
The FSA is structured into several departments, each responsible for a specific area of regulation, including licensing, compliance, and enforcement. The regulator’s responsibilities include setting and enforcing regulatory requirements, monitoring for compliance, and investigating any breaches of local regulations.
The FSA Seychelles regulates a range of companies, including forex brokers, securities dealers, and insurance companies. The regulator’s oversight ensures that these companies operate in a fair and transparent manner in the best interest of their clients and maintain the reputation of the Seychelles as a financial hub.
Forex Trading Laws and Regulations in Seychelles
Forex trading in the Seychelles is governed by the Securities Act of 2007 and the Financial Services Authority Act of 2013. These laws provide the framework for the regulation of forex trading in the Seychelles, outlining what is legal and what is not.
For instance, forex trading is legal in the Seychelles, but brokers must be licensed by the FSA to operate. The laws also require brokers to comply with various rules, including anti-money laundering and know-your-customer (KYC) regulations.
Brokers regulated by the FSA Seychelles must also comply with specific requirements, such as maintaining adequate capital, segregating client funds, and providing transparent pricing and reliable order execution. The regulator requires brokers to disclose certain information to clients, including risks associated with forex trading and the terms and conditions of trading.
Requirements for Obtaining Forex License in Seychelles
To obtain a forex license in the Seychelles, applicants must meet the requirements set by the Financial Services Authority (FSA) of Seychelles. The licensing process involves submitting various documents, paying application fees, and meeting specific capital requirements. Here’s an overview of the licensing requirements for FSA Seychelles forex brokers.
Documents Required
Applicants must submit the following documents to the FSA Seychelles:
- Business Plan: A detailed business plan outlining the company’s structure, management, and operations.
- Company Documents: Certified copies of the company’s Memorandum and Articles of Association, Certificate of Incorporation, and Shareholder Register.
- Director and Shareholder Information: Personal and professional information about the company’s directors and shareholders, including passports and proof of address.
- Anti-Money Laundering (AML) and Know-Your-Customer (KYC) Policies: Documents outlining the company’s AML and KYC policies and procedures.
- Risk Management Policy: A document outlining the company’s risk management strategy and procedures.
- Financial Statements: Audited financial statements for the company, including balance sheets, income statements, and cash flow statements.
- Insurance Certificate: A certificate of insurance covering professional indemnity and other relevant risks.
Application Fees and Licensing Costs
The Financial Services Authority (FSA) of Seychelles charges application fees to forex brokers seeking licenses to operate in the country. According to the FSA’s official website, the application fees for forex brokers are as follows:
- Application fee for a Securities Dealer License: SCR 5,000 (approximately USD 350)
- Application fee for a Forex Broker License: SCR 10,000 (approximately USD 700)
- Annual license fee for a Securities Dealer License: SCR 20,000 (approximately USD 1,400)
- Annual license fee for a Forex Broker License: SCR 50,000 (approximately USD 3,500)
Please note that these fees are subject to change, and forex brokers should check the FSA’s website for the most up-to-date information on application fees and other licensing requirements. Additionally, the FSA may charge other fees, such as inspection fees or penalty fees, in certain circumstances.
It’s also worth noting that the FSA requires forex brokers to pay a non-refundable application fee, which is payable upon submission of the license application. The FSA will review the application and may request additional information or documentation before making a decision on the license application.
Corporate Taxes for Forex Brokers
Forex brokers licensed in the Seychelles are subject to corporate taxes on their profits. Companies with a taxable income exceeding SCR 1 million (approximately $75,000) are subject to corporate taxes of 25%, according to the Seychelles Revenue Commission. However, forex brokers may be eligible for a reduced tax rate of 1.5% on their foreign-sourced income, provided they meet certain conditions.
Retail Leverage at Seychelles Brokers
Seychelles brokers offer retail forex traders leverage as high as 1:1000 or more, which is significantly higher than the limits imposed by regulators in Europe, Australia, and the UK. For example, European regulators cap leverage at 1:30 for major currency pairs. Australian and UK regulators impose the same limit.
In contrast, Seychelles brokers provide more flexible leverage options, which can be attractive to traders who want to maximize their trading potential. However, high leverage also increases the risk of significant losses, and traders should carefully consider their risk management strategies. Many Seychelles brokers provide risk warnings and disclosures, but it’s up to the trader to manage their risk exposure.
Client Protections at Seychelles Brokers
Seychelles brokers are required to implement various measures to protect their clients’ interests. One key protection is the segregation of client funds, which ensures that brokers keep their clients’ money separate from their own operational funds. This reduces the risk of clients losing their funds in the event of a broker’s insolvency.
Additionally, some Seychelles brokers offer negative balance protection, which prevents clients from incurring losses that exceed their account balance. While there is no formal investor compensation scheme in place, brokers are required to maintain adequate capital and insurance to cover potential losses.
Furthermore, many brokers provide clear risk disclaimers and disclosures to their clients, outlining the potential risks and consequences of trading. By implementing these measures, Seychelles brokers ensure a safer trading environment for their clients. This helps to build trust and confidence in the market.
Popular Trading Platforms Used by Seychelles-Licensed Brokers
Seychelles-licensed brokers offer a range of trading platforms to cater to the diverse needs of their clients. These platforms provide traders with the tools and features they need to analyze markets, execute trades, and manage their accounts. With a variety of options available, traders can choose the platform that best suits their trading style and preferences.
Some of the most popular trading platforms used by Seychelles-licensed brokers include:
-
MetaTrader 4 (MT4)
A widely-used platform known for its ease of use, advanced charting tools, and automated trading capabilities. MT4 offers 30 built-in technical indicators, 23 analytical objects, and 9 timeframes, allowing traders to conduct in-depth market analysis. Additionally, MT4 supports the use of Expert Advisors (EAs) for automated trading, and features a built-in strategy tester for backtesting strategies.
-
MetaTrader 5 (MT5)
An upgraded version of MT4, offering additional features such as improved charting and analysis tools, as well as enhanced trading capabilities. MT5 features 38 built-in technical indicators, 44 analytical objects, and 21 timeframes, providing traders with more advanced tools for market analysis. MT5 also supports the use of EAs and features a built-in strategy tester, as well as a more advanced order management system.
-
TradingView
A web-based platform that provides real-time market data, advanced charting tools, and a community of traders to share ideas and insights. TradingView features a vast library of technical indicators, with over 100 built-in indicators and the ability to create custom ones, using the platform’s proprietary programming language, PineScript. TradingView also offers advanced charting capabilities, including 12 different chart types and 10 timeframes, as well as a range of drawing tools and objects.
-
cTrader
A professional-grade platform designed for ECN trading, offering advanced features such as level II pricing, fast execution, and automated trading capabilities. cTrader features a range of technical indicators, including 55 built-in indicators, as well as advanced charting capabilities, including 14 different chart types and 24 timeframes. It also supports the use of automated trading strategies, using the platform’s proprietary programming language, cAlgo.
These platforms are designed to provide traders with a seamless and efficient trading experience, and are often available for desktop, mobile, and web-based trading.
Choosing Reliable Seychelles Brokers
When selecting a Seychelles broker, it’s essential to consider several key factors to ensure a safer trading experience. One crucial aspect is the broker’s regulatory status, including their license and compliance with FSA regulations.
Traders should also evaluate the broker’s reputation, including reviews and ratings from other clients, to gauge their level of customer satisfaction and support. Additionally, the broker’s trading platform, including its stability, security, and features, should be thoroughly assessed. Other important considerations include the broker’s leverage, spreads, commissions, and margin requirements, as well as their deposit and withdrawal procedures.
By carefully evaluating these factors, traders can increase their chances of finding a reputable Seychelles broker that meets their trading needs and provides a secure and stable trading environment. This helps to minimize potential risks and maximize trading opportunities.
Pros and Cons of Trading with Seychelles Brokers
Seychelles brokers are a viable option for forex traders, offering a unique combination of benefits and drawbacks. Here are some of the key advantages and disadvantages to consider before registering with a Seychelles-licensed broker:
- Flexible trading conditions
- High leverage options
- Fewer country restrictions
- Access to a wide range of trading instruments
- Competitive trading conditions
- Limited regulatory oversight
- Higher risk of fraud or scams
- Fewer investor protection measures
- Limited access to dispute resolution services
Conclusion
In conclusion, Seychelles brokers offer a unique blend of flexibility and lucrative opportunities, making them suitable for experienced traders seeking high leverage and competitive trading conditions.
While they may not offer the same level of regulatory oversight as brokers in other jurisdictions, they can still provide a valuable trading experience for those who are aware of the potential risks and take steps to mitigate them.
Ultimately, traders must carefully weigh the pros and cons and conduct thorough research before deciding to trade with a Seychelles broker.
Why You Should Trust RationalFX
When it comes to making informed decisions about forex brokers, it’s essential to rely on trustworthy sources. RationalFX, a company with over 17 years of experience since its founding in 2005, has established itself as a credible authority in the industry. With an impressive collection of over 2500 reviews on Trustpilot, boasting a score of 4.2, it’s clear that Rational FX has built a reputation for providing reliable and unbiased information.
What sets Rational FX apart is its rigorous evaluation process, which considers over 30 different criteria when selecting forex brokers. This comprehensive approach ensures that every aspect of a broker’s service is taken in consideration, including regulation, forex spreads, trading platforms, deposit methods, and reputation. With its wealth of experience, transparent review process, and outstanding customer feedback, Rational FX is a trusted source for anyone seeking reliable information on forex brokers. You can reach us via e-mail at [email protected] or contact us through our social media accounts here: Facebook, YouTube, or leave a feedback here.