If you wish to start forex trading, you should choose a broker that is regulated and offers low deposits. Here are the top 5 FSA-regulated brokers with the lowest deposit.

Over the last ten years, Seychelles has significantly managed to establish itself as a well-known and respected international jurisdiction for financial services. Seychelles regulations are being carefully put out through partnerships between the public and private sectors. This allows the islands to find a balance between international requirements and the needs of global businesses and investors. 

fsa regulated broker

 

What is FSA?

In 2021, Seychelles Financial Services Authority (FSA) celebrated its 26th year in operation. It is a non-banking financial services regulator responsible for overseeing various companies while protecting investors from petty hands. On their site, you can read the financial industry legal framework and the latest related news.

You can also see the FSA's vision, which is to develop Seychelles as a leading financial services center through the expansion and implementation of appropriate regulations. Long story short, they hope to create an environment in which the non-bank financial services sector can grow in line with the global economic development strategy.

It should be noted that the FSA was established based on the mission of Financial Services Authority Law (2013) which is tasked with licensing, monitoring, and developing the non-banking financial services industry. Additionally, under the same terms, FSA is entrusted with:

  • Managing the registry.
  • Developing legal, regulatory, and supervisory mechanisms.
  • Informing the public about important events and news related to financial services.
  • Taking strong action against people who perform unauthorized financial services in Seychelles.

The existence of FSA is now increasingly prominent after Seychelles became popular as the main destination for financial services companies and foreign capital markets to obtain licenses.

FSA licenses are very practical for companies around the world who deal with or trade securities. Licenses are a powerful tool for attracting clients to join a broker or use a company's services. Plus, having a license will certainly make a business look more trustworthy.

An FSA license can be acquired ultra-fast within just 3 months after applying the request. Here is a list of the types of entities that are supervised and regulated by FSA:

  • Fiduciary Services
  • Capital Markets
  • Collective Investment Schemes
  • Insurance
  • FinTech Sandbox
  • International Trade Zone
  • Casinos and Slot Machines

See also: Forex Brokers in Seychelles

However, it should be noted that Seychelles is still considered an offshore jurisdiction. For some people, it does mean a lot since offshore regulations are typically friendly towards forex brokers providing high-risk trading conditions. Their terms are also less strict compared to other more established agencies such as the UK's FCA and the US CFTC, hence the easy and quick process of acquiring their license.

 

What does FSA Do?

You may be wondering, does FSA carry out its responsibilities? Yes, FSA is indeed actively warning dishonest brokers and monitoring all financial service activities that happen in their jurisdiction.

Compared to brokerages that operate without adequate protections out there, in conducting its regulatory and supervisory functions, FSA strictly adheres to international standards to maintain a healthy and reputable financial center in the Indian Ocean.

Recently, the Seychelles Financial Services Authority and the Ministry of Finance are developing policies to ban or license cryptocurrency trading platforms as International Business Companies (IBCs) registered in the islands.

Why is FSA so determined to regulate crypto exchanges? It is none other than the existence of several crypto scams in Seychelles. The most recent incident was OneCoin which involved the transfer of 230,000 Bitcoins. The transaction also includes more than $10 billion in cash and property in what is known as a pyramid scheme.

FSA also updates its official page frequently with many regulatory updates to watch for. In early December this year, FSA notified against unauthorized use of www.girofx.com. The website is claiming to be operated by an FSA-licensed company when it's not linked to any entity licensed or regulated by the FSA in any capacity

Even though the FSA is hard-working in controlling and supervising, they still urge the public to remain cautious when trading online. FSA informs that they are not responsible if clients continue to trade or interact with brokers that have been warned by FSA.

 

How to Check If a Broker is Regulated by FSA?

As noted above, FSA has a wide range of regulatory responsibilities and powers, including the authority to provide Seychelles licenses to non-banking financial services companies that wish to operate legally. Furthermore, FSA has control over licensing international business firms, foundations, brokers, and international trusts.

Assuming that you want to check whether a particular broker or company is regulated by the FSA, the first step is to find out if the broker states an FSA license number on their site. On condition that you have found it, do a cross-check for the license number on the FSA's website. All legitimate Seychelles licenses can be inspected directly on the website.

 

5 FSA Brokers with the Lowest Deposit

When beginners set foot in forex trading, there are several trading conditions that they often research, one of which is what broker offers the lowest deposit.

Low minimum deposits tend to be the target of beginners since they usually can't put a lot of money into trades. They also tend to have lower risk tolerance for each trade. The advantage of choosing an account with a small deposit requirement for beginners is that they can test the waters with an actual live account without worrying about losing a lot of money. Professional traders can also use it to experiment with various strategies that require real execution in the market.

The following brokers are some FSA-regulated entities with very low minimum deposit requirements:

 

1. Exness

Founded in 2008, Exness is now a leading broker with nearly hundreds of thousands of active clients spread across the globe. Traders are interested in joining Exness not only because of the license from FSA and zero payment fees, but also the offer of several types of accounts with low minimum deposits of only $5. Exness also allows deposit and withdrawal through WebMoney.

Website
Established
2008
Leverage
1:2000
Min Deposit
$10
Regulation
FSA (Seychelles), CBCS (Curacao), FSC (BVI), FSCA, CMA (Kenya), FCA, CySEC, ESMA
PAMM
Trading contests
LAMM
Segregated accounts
VPS
Free education
Islamic account
Copy trading
Compensation scheme
Negative balance protection
Low spread eur/usd
Affiliate program
Trading via API
WebMoney
Skrill
Wire transfer
Neteller

The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.

Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.

Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.

The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.

Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.

Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.

The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.

Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.

The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.

Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.

One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.

Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.

Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.

When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.

From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.

 

2. HF Markets

In addition to holding multiple licenses from the UK's FCA, CySEC, FSCA, DIFC, and FSA, HF Markets offers some interesting features for novice traders when opening a trading account, including a minimum deposit of $5 through various payment methods, including e-wallet.

Website
Established
2010
Leverage
1:2000
Min Deposit
$0
Regulation
Capital Markets Authority of Kenya, CySEC, DFSA (Dubai), FCA, FSA (Seychelles), SVGFSA, FSC (Mauritius), FSCA
Bonus offers
Trading contests
Free education
Personal manager
Trading by telephone
PAMM
Segregated accounts
Managed accounts
Affiliate program
Islamic accounts available
Compensation scheme
Negative balance protection
VPS
Copy trading
FasaPay
Neteller
Skrill
WebMoney
Wire transfer

HF Markets is an award-winning forex and commodities broker. Established since 2010, the company provides trading services and facilities to both retail and institutional clients. For more than 9 years in business, HF Markets has around 1,500,000 live accounts opened and 200 employees globally.

Based on its services, HF Markets can be regarded as middle-class category. Clients do not need to prepare a big deposit for joining to trade with this broker. Also, there are various account types, trading software, and tools to facilitate individuals and institutional customers to trade forex and CFD online.

HF Markets is a registered brand name of HF Markets (Europe). Based on the location, the company is regulated by various financial regulators. Here are the details:

  • HF Markets (SV) Ltd, registered in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
  • HF Markets (Europe), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with Licence Number 183/12.
  • HF Markets SA (PTY), is authorized and regulated as a Financial Service Provider (FSP) by the Financial Sector Conduct Authority (FSCA) in South Africa, under license number 46632.
  • HF Markets (Seychelles), incorporated under the laws of the Republic of Seychelles with registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015.
  • HF Markets (DIFC) Ltd, authorized and regulated by the Dubai Financial Services Authority (DFSA) under license number F004885.
  • HF Markets (UK) Ltd, authorized and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.

If traders have more experienced, knowledgeable, and sophisticated trading environment, they can join to become Professional Clients, who can manage and assess their own risks. For that reason, these kinds of clients are granted access to more favorable rates but afforded lesser regulatory protections than retail clients.

Trading with HF Markets can enable traders to access a variety of trading instruments like CFDs on Forex, Cryptocurrencies, spot metals (gold, silver, and others), energies (oil and gas), commodities (such as coffee, copper, and sugar), indices, bonds, and popular shares such as Google, Apple, and Facebook.

HF Markets offers some of the tightest spreads in the market, starting from 0 pips in Zero Account. This broker quote major foreign exchange currency pairs to five decimal places. Therefore, traders have the opportunity to get more accurate pricing and the best possible spreads.

HF Markets receives numerous highly prestigious titles, including the huge honor of being ed to join the ranks of the World Finance Top 100 Global Companies. Others are Best Client Funds Security Global by Global Brands Magazine, Best Global Forex Copy Trading Platform by Global Forex Awards 2019, Fastest Growing Forex Broker Mena 2019 by International Business Magazine, and many more.

After opening an account in HF Markets, traders will obtain various forex trading platforms to accommodate all of their trading demands. Whether traders like to trade on desktop or prefer to trade on-the-go, they can use MetaTrader 4 on desktop (terminal, multi-terminal, and web terminal) and phone (iPhone, iPad, and Android).

Clients' funds are held in segregated accounts. Only major banks are used by Markets because they believe that successful traders have to give their full attention to their trading rather than worrying about the safety of their funds.

Traders do not need to worry about transaction fees when depositing and withdrawing. Transaction fees are not charged, and diversity of payment methods enable them to choose between Wire Transfer, Bank Card, and online payments (Neteller, iDeal, Sofort Banking, and Skrill). HF Markets ensures that traders make fast transactions 24/5 during the standard hours.

Traders can earn extra income by joining the affiliate program offered by Markets. Clients who join this program will get some advantages, such as 60% of Net Spreads based on the volume traded by sub-clients, up to $15 per a lot of net revenue, and many more. More information about HF Markets can be obtained on their official website which is supported in 27 languages.

From the review above, it can be concluded that HF Markets is one of the award-winning forex and commodities brokers. There are various account types traders can choose in HF Markets, and the broker itself becomes a favorite among traders for its low spreads. This condition is very suitable for traders with limited funds and a desire to get more opportunities to gain maximum profit.

 

3. M4Markets

Trinota Markets Global Limited or M4Markets was only established 2 years ago. However, this broker has managed to provide traders with global quality services from its headquarters in Seychelles which is regulated by FSA. You can open an account with this broker with a starting capital of $5 through various payment methods.

Website
Established
2019
Leverage
1:1000
Min Deposit
$5
Regulation
FSA (Seychelles), CySEC
PAMM
Personal manager
Segregated accounts
VPS
MAM
Free education
Skrill
Wire transfer
Neteller
FasaPay

 

4. Alpari

Alpari is a reliable broker with years of experience in the industry. The company was founded in 1998 and is consistently attracting clients around the globe due to its commitment to providing the best service for all types of traders, including the new ones. Alpari's initial deposit only starts from $1. Traders can deposit through credit card and debit cards as well.

Website
Established
1998
Leverage
1:1000
Min Deposit
$1
Regulation
SVGFSA, 20389 IBC 2012, FSA (Seychelles), SD026, The Financial Commission, 01, 09, 2013
Bonuses
PAMM
Trading contests
Segregated accounts
Managed accounts
Free education
Trading by phone
Copy Trading
WebMoney
Skrill
Wire transfer
Neteller
FasaPay

Alpari International is one of the largest forex brands. They always try to work hard to make sure traders make the best trading and investment decisions. Established on 24th December 1998, Alpari has started from a small group of men who are looking to start a business in finance in one of the most economically precarious years in Russia's history.

During 20 years of experience in the forex industry, there are about 2 million traders choosing Alpari as the broker to trade with. Alpari has a head office on the 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius. The company is regulated in St.Vincent and the Grenadines (the licensed number is 20389 IBC 2012), IFSC Belize (the licensed number is IFSC/60/301/TS/18).

This broker uses MetaTrader 4 and MetaTrader 5, both of which offer great flexibility, charting tools, and an easy-to-use interface. For higher volumes, the company also provides the Alpari International Direct platform which offers enhanced features for advanced investors.

The company offers an array of live trading accounts to choose from. Each one offers different opportunities and allows traders to trade in different ways. All of their accounts use USD, EUR, GBP, and NGN as the options for base currency. But, NGN accounts are only available to clients in Nigeria.

Each kind of account has a different spread. At Standard Account provides spreads from 1.2, the spread of Micro Accounts is from 1.7, and ECN Account and Pro Account have spread from 0.4. A trader can open an account in Alpari and opt to trade currencies (FX majors, FX minors, FX exotics, and FX RUB), spot metals, spot commodities, stock trading, spot indices, and crypto-currencies.

A trader can find out what the minimum spreads, pip value, swaps, and trading session times are for each instrument before start trading. If the trader is still not sure where to begin, they can found the answer in a guide provided by Alpari on their official website.

Their guide to trading is designed to break down the terminologies and answer the most frequently asked questions by traders. A trader will be trading more quickly and with more confidence in no time.

Besides, Alpari offers PAMM (Percent Allocation Management Module) which allows a trader to choose their desirable Account Manager. This allows traders to have a chance in gaining more profit without advanced knowledge of forex trading. These managers usually have a wealth of experience in the markets, with tried-and-tested strategic trading decisions.

This program also gives opportunities for well-seasoned traders to become Strategy Managers. As Strategy Managers, they can use their trading experience and earn more from profitable trades. They have privileged access to Alpari's advanced programs and all the tools they need to cultivate a massive following of investors. The investors then will help Strategy Managers to earn more through commission fees up to 40%.

Their website also provides various Forex Trading Strategies. Because to increase the chance to profit, it's important to know as much about the markets and the trading strategies behind them as possible. Alpari believes that strategies provide traders with a roadmap for trading, reducing panicked decision-making that can occur in the heat of the moment. In other words, trading in Alpari allows traders to learn about any kind of forex trading strategy.

For educational purposes, the company provides Trading Webinars, one of the variants of technology that allows users to hold seminars, talk shows, and discussions online, without having to communicate face to face.

Alpari creates a very convenient funding and withdrawal experience for each trader. A trader can transfer with any kind of methods, such as e-payment (example: FasaPay, Local Transfer, TC Payment, etc), credit cards (Visa, Mastercard, and Maestro), E-Wallet (Neteller, Skrill, VLOAD, TC Pay Wallet, WebMoney, Perfectmoney, Bitcoin), and bank transfer. If there's been no trading activity on the trader account for at least 6 months, an inactivity fee of 5 EUR/USD/GBP will be applied.

All Back office transfers are processed during standard business hours, 03:00-19:00 GMT+2 (GMT+3 during DST), Monday-Friday. If traders still feel confused, they can contact Alpari's team by any method, such as Live Chat, Telegram, or email.

 

5. SquaredFinancial

Squared Financial Ltd is an online forex and CFD broker that clients trust because it is regulated by many authorities, including the FSA. The broker offers several advantages, one of which is a low minimum deposit of $1

Website
Established
2017
Leverage
1:30
Min Deposit
$250
Regulation
CySEC, FSA (Seychelles)
Segregated accounts
Free education
Skrill
Wire transfer
Neteller
FasaPay

 

EndNote

Seychelles hopes to continue to expand until the jurisdiction is recognized everywhere as a leading financial service. As a forex trader, you may have specific preferences in choosing a broker. If you are in search of a regulated broker with low deposits appropriate for novice traders, then the choices above can be put through your list of prospective brokers. Besides low deposits, beginners should also consider cheap brokers with low fees to help access the forex market without spending a lot of money.

 

In addition to low minimum deposit, there are plenty of Seychelles-regulated brokers that provide spreads as low as zero for many short-term traders out there.