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List of Brokers with CIMA Regulation


The Cayman Islands Monetary Authority (CIMA) began operations on January 1, 1997, to regulate and oversee the Cayman Islands' financial services industry. CIMA is also responsible for enhancing Cayman's ability to maintain a well-regulated financial services regime and monetary stability. CIMA is given the functions, duties, powers, and obligations to ensure the accountability and transparency of the Cayman Islands while protecting and enhancing the integrity of the financial services industry in the area.

Established : 1997
Country : Cayman Islands
Website :
Total Brokers : 10

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Score Broker Regulation Payment Min Deposit Max Leverage


Being regulated by CIMA (the Cayman Islands Monetary Authority) means operating under the standards of a Cayman Islands financial regulator. Established in 1997, the institution bears the responsibilities derived from the Cayman Islands Monetary Authority Law. Its regulatory framework helps ensuring the ethical code of conduct from financial companies in the country. Their subjects include banks (onshore and offshore), portfolio managers, hedge funds, fund management entities, and credit unions.

CIMA regulated forex brokers are generally operating under easier policies compared to other brokers regulated in top financial watchdogs. The Cayman Islands Monetary Authority is known for a liberal framework to give more flexibility to financial companies set up in the country. Nonetheless, CIMA is obliged to the international community for creating specific rules and regulations to at least prevent money laundering and financial crimes. Other requirements set up by CIMA are:

  • Annual audits on company accounts.
  • Submission of annual accounts and certificate of compliance.
  • Notification to CIMA if there are changes made by the company.
  • Independent audit on the internal controls of licence holders.
  • Provision of current insurance details.
  • Submission of monthly statements by licensed dealers/brokers.
  • Adjustion of balance sheet figures on an annual basis.

What is the main purpose of CIMA?

  • To regulate and supervise all financial services in the Cayman Islands.
  • To ensure that regulated businesses are compliant with money laundering regulations. -To provide regulated entities with a guideline containing policies and procedures, as well as statements of principles.
  • To act as an advisor for the Cayman Islands government in relation with monetary and regulatory matters.
  • To manage currency reserves, issue, and redeem the Cayman Islands currency.
  • To contribute in helping overseas regulatory agencies to promote the supervision of financial markets.

To ensure the safe operation of the Cayman Islands economy and protect investors from financial malpractices, CIMA has the authority to implement several guidelines in place. Involvement in any financial crimes by a member firm won't be taken lightly even though CIMA's preference to keep their policies flexible may deter them from applying strict rules to a suspected instituion. Nevertheless, CIMA ensures constant surveillance and regularly promotes sound financial system to improve confidence and trust among investors.

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 foreign exchange transaction activity in the offline market is supported by law. Some of these include the Central Bank of Nigeria Act of 1958, the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act of 1995, the Exchange Control Act of 1962, the Banks and Other Financial Institutions Act of 2007, and the Investments and Securities Act of 2007.

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

Selecting a broker regulated by the Monetary Authority of Singapore (MAS) should be the foremost consideration when embarking on your trading journey in Singapore. MAS is Singapore's premier financial regulatory body, renowned for its unwavering commitment to maintaining the integrity and stability of the financial sector. When a broker is subject to MAS regulation, the institution adheres to the highest industry standards.

Continue Reading at Top Forex Brokers in Singapore

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

The first official effort to regulate the industry began in 2004 through the establishment of Federal Financial Markets Service (FFMS/FSFR). After the agency's disbandment in 2013, the Central Bank of Russia took over supervising Russian forex brokers.

In 2015, the Central Bank of Russia launched far stricter law enforcement. Forex brokers were given a January 2016 deadline to obtain licenses from CBR, or abstain from carrying out their services in the region. Since then, CBR only granted licenses to a handful of brokers.

Continue Reading at Best Forex Brokers in Russia