The existence of forex brokers with multiple licenses creates the illusion of higher credibility. But the facts about trusted forex brokers are not so simple.

Forex Brokers with Multiple Licenses

Many forex brokers nowadays are regulated and licensed across multiple jurisdictions. A North American-based forex broker may hold licenses from the US and Canadian authorities, as well as the Australian and European Union. It creates the illusion of higher credibility; the more licenses they have, the more trustworthy they are. But the facts are not so simple.

Beginner forex traders should understand that every forex broker must seek to operate a legal and lucrative business. To this end, multiple licenses may be needed. The number of licenses owned by each forex broker merely marked the countries where the company is liable to operate legally. They did this to comply with the regulatory framework and maintain their market integrities.

What else should traders know about brokers with multiple licenses?


Why Forex Brokers Opt for Multiple Licenses?

The foreign exchange (forex) market is the world's largest and most liquid financial market. It has a daily trading volume of around $6.6 trillion. Consequently, the forex market has become a competitive industry in which forex brokers contend to win more and more clients' funds.

Merely recruiting more clients is not enough. Forex brokers should also boost their credibility and reputation and legalize their services across multiple jurisdictions. How would the company expect its clients to deposit more money without credibility? Without official licenses, who knows when the authorities would seize its business?

Accordingly, there are two major reasons why many forex brokers opt for multiple licenses:

  1. To comply with regulatory frameworks in the countries where they offer trading services.
  2. To maintain market integrity and build investor confidence in the company.


Are Forex Brokers with Multiple Licenses More Trustworthy?

Financial markets regulatory agencies worldwide do not have a single policy framework. Each establishes their own rules, revises and improves them as needed, and so on. To comply with rules in different countries, forex brokers that seek multiple licenses may have to prepare millions of capital, pay expensive fees, and more.

Thus, not every forex broker could actually gain licenses in multiple jurisdictions. There are several requirements to be fulfilled.

  1. First, they should have enough capital.
  2. Second, they have to streamline their businesses to conform to different official requirements in different countries.

Let's say ABC forex broker is seeking licenses from the UK Financial Conduct Authority (FCA) and Australian Securities and Investment Commission (ASIC). Both established different leverage limitations, different capital requirements, and even some conflicting rules.

The UK FCA allows forex brokers to run a "market maker" business, while ASIC prohibits forex brokers to form any conflict of interest with their customers. To gain both licenses, ABC should offer a "hybrid" model in which clients from different countries would be offered different types of services.

The ability of ABC forex broker to comply with both agencies' requirements is certainly commendable. It enables the UK and Australian citizens to trust them more. However, what if you are not a citizen of the UK or Australia? It should be clear that ABC may not comply with your country's law and is not liable for any damages.

Long story short, forex brokers with multiple licenses may be more capable than forex brokers with a single license. But multiple licenses do not guarantee trustworthiness. The best option is to register with a trusted forex broker officially licensed in your own country.

Moreover, not all forex brokers with multiple licenses can be ranked equally. ABC broker that holds only two licenses from the UK and Australia may have more credibility than its rival that holds five licenses from offshore authorities. See the examples below.


Examples of Forex Brokers With Multiple Licenses

Forex Broker Countries
AvaTrade Ireland, Australia, Japan, South Africa, British Virgin Islands, UAE
CMC Markets UK, Germany
Exness UK, Cyprus, Seychelles, South Africa
FBS Cyprus, Australia, Belize
FXCM UK, Australia, Italy, Cyprus, Israel, UAE, Hong Kong
FXTM UK, Cyprus, Mauritius, South Africa
FXOpen UK, Australia
FXPro UK, Cyprus, South Africa, UAE
IG UK, Germany, Switzerland, USA, Singapore, Japan, South Africa, UAE, Australia, New Zealand
Interactive Brokers USA, UK, Australia, Ireland, Singapore
OANDA USA, UK, Japan, British Virgin Island, Malta
OctaFX UK, Cyprus, St Vincent and Grenadines
Pepperstone Australia, Germany, Cyprus, UAE, Kenya
Plus500 UK, Cyprus, Australia, Israel, South Africa, Singapore
Cyprus, Vanuatu



In conclusion, choosing a broker with multiple licenses can provide traders with significant benefits and peace of mind. It ensures that the broker operates under strict regulatory frameworks, offering enhanced protection for client funds and adherence to high industry standards.

Moreover, the availability of multiple licenses demonstrates the broker's commitment to transparency, professionalism, and global compliance. By selecting a broker with multiple licenses, traders can enjoy a trusted and reliable trading environment that aligns with their needs and priorities.


As TriumphFX is regulated by CySEC and Vanuatu's regulatory agency, it can be said that this broker is a multi-licensed broker. To register with the broker, you could visit How to Open an Account in TriumphFX.