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List of Brokers with FSC (BVI) Regulation

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The BVI Financial Services Commission is the autonomous regulatory authority responsible for the regulation, supervision, and inspection of all British Virgin Islands financial services, including insurance, banking, business trust, corporate management, mutual fund business, company registration, limited partnership, and intellectual property.


Established : 2001
Country : British Virgin Islands
Website : https://www.bvifsc.vg
Total Brokers : 13

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FAQ

What does BVI regulated mean?

Being regulated by the BVI or the BVIFSC means operating under the standards of a British Virgin Islands financial regulator. BVI forex brokers typically enjoy several tax breaks that enables firms to enjoy huge profits and offer lucrative offers to attract clients.


What are BVI rules?

The country enforces its rules through the Securities and Investment Business Act of 2010, which was created alongside the BVIFSC. The regulatory guidelines are quite simple and do not go according to the global regulatory frameworks. Registered companies under the BVIFSC are not required to hold any amount of minimum capital, nor keep client funds in segregated accounts.

Still, financial dealings and transactions are monitored by the BVIFSC. Regulated brokers in British Virgin Islands are also required to follow several regulatory guidelines to avoid insider trading, prevent financial scams, and other aspects that may harm the BVI economy.


What is the main purpose of BVI?

To safeguard the economic interests of British Virgin Islands by upholding its integrity as a well-regulated international finance center. In general, the BVIFSC has purposes to:

  • Protect the interests of the general public and market participants.
  • Ensure industry compliance with the highest international regulatory standards and best business practices.
  • Ensure that the nation plays its part in the fight against cross-border, white-collar crime while safeguarding the privacy and confidentiality of legitimate business transactions.

What are the powers of BVI?

By enforcing all financial services regulatory and registry legislation, the BVIFSC has the power to monitor the regulated financial services activity to protect the public against any illegal and/or unauthorised financial services. The agency also has the right to review all financial services and related enforcement legislation and policie to keeping attuned to domestic and international developments affecting the financial services industry.

If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.


Additional FAQ

The CNMV is responsible for supervising and regulating the financial markets in Spain. It collaborates closely with the European Securities and Markets Authority (ESMA) and applies unified laws for trading in leveraged markets for retail investors, as Spain is a member of the European Union.

Continue Reading at 3 Interesting Facts of Forex Trading in Spain

African countries are forex-friendly, but naturally, there are minor restrictions from the government. Forex brokers must hold a license before running their business in any of these countries. The status of forex trading in these countries is still unclear; it is not yet legalized but not against the law.

The South African Financial Sector Conduct Authority (FSCA), previously known as Financial Services Board (FSB), is one of the most well-known forex regulatory bodies.

Continue Reading at Is Forex Trading Legal in Africa?

Some of the top regulatory agencies in the world include:

  • The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the United Kingdom
  • The Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the United States
  • The Swiss Financial Market Supervisory Authority (FINMA) in Switzerland
  • The Australian Securities and Investments Commission (ASIC) in Australia
  • The Financial Services Agency of Japan (JFSA) in Japan
  • The Cyprus Securities and Exchange Commission (CySEC) in Cyprus

If the broker you use is regulated by one of the regulatory agencies above, you can be confident that it is safe. The reason is that these regulatory agencies have strict requirements that brokers must meet to be licensed.

Only the most reputable and trustworthy brokers can obtain a license.

Continue Reading at How to Avoid Forex Broker Scams

When it comes to online trading regulation, the ambiguity of laws in Nigeria contrasts with other African countries that have already implemented regulations. For example, South Africa's Financial Sector Conduct Authority (FSCA) and Kenya's Capital Markets Authority (CMA) have already regulated online forex brokers in their countries. Furthermore, South Africa has even established rules for forex trading taxation.

Continue Reading at Is It Safe to Trade Forex in Nigeria?