List of Brokers with FSC Regulation

FSC Mauritius is an offshore regulatory agency that is responsible for overseeing and regulating non-banking financial services on the island of Mauritius. The main purpose of FSC is to keep a steady balance between regulatory measures and business development in all of its aspects. FSC makes sure that all activities of its members are above board and that the code of conduct is observed in their business dealings in terms of fairness, efficiency, and transparency.

The institution is attractive to a lot of forex brokers as the license is much cheaper compared to onshore European forex licenses. Still, FSC Mauritius is known to be quite stringent and puts stress on the importance of conducting brokerage operations in a transparent manner. There are cases when it has issued several warnings to FSC-licensed brokers, proving its reliability despite its status as an offshore regulatory agency.

Trading in an FSC-regulated broker would mean higher leverage that benefits traders with small deposits. Since the license acquisition is not costly, brokers operating under FSC Mauritius generally offer low trading costs in spreads, commissions minimum deposits, and transaction fees. The regulatory agency does not explicitly prohibit its brokers to attract clients with promotions, so traders could easily find bonus programs when trading with an FSC-regulated broker.

However, it is also important to note that an FSC license does not ensure segregated accounts, so the safety of the client's funds is not highly guaranteed. Clients are recommended to do their due diligence when dealing with a forex broker that is only regulated by FSC Mauritius.

1. Go to the official website of FSC Mauritius.
   
   
2. Click on Supervision, and choose Register of Licensees.
   
3. To simplify your search, skip this form and choose the Search By Name tab.
   
4. Next, type the company name of your broker and click Submit.
   
5. If your broker is rightfully registered in FSC Mauritius, there should be a detail like this below the search section.
   

The Financial Services Commission (FSC) of Mauritius is one of many regulatory bodies around the world that oversee and regulate forex (foreign exchange) and financial services activities. Each regulatory authority operates within its own jurisdiction, and the effectiveness of regulation can vary based on several factors. Here's a general comparison between FSC Mauritius and other forex regulators:

In general, here are the steps to apply for an FSC Mauritius license:

1. Identify the specific type of license you need from the FSC. If you're a forex broker, you could choose Investment.
2. Gather all the necessary documents and information required for the application. This may include:
   1. Business plan detailing your proposed financial activities.
   2. Information about the company's shareholders, directors, and management.
   3. Financial statements, including audited accounts.
   4. Compliance policies and procedures.
   5. Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures.
   6. Proof of sufficient capital and financial resources.
   7. Any other documents specific to the type of license you're applying for.
3. Prepare the application form provided by the FSC and submit it along with all the required documents. The application form can usually be downloaded from the FSC's official website.
4. The FSC will review your application and conduct a thorough evaluation of your proposed business, compliance with regulations, financial stability, and other relevant factors.
5. The FSC will then conduct due diligence checks on the company's shareholders, directors, and other relevant individuals. This is to ensure that the individuals involved meet the required fit and proper criteria.
6. During the review process, the FSC may request additional information or clarifications about your application. It's important to respond promptly and provide accurate information.
7. If your application meets all the requirements and passes the evaluation process, you will receive approval from the FSC. Once approved, you will be issued the relevant license to operate your financial services activities in Mauritius.

After obtaining the license, you will need to adhere to the regulatory requirements set by the FSC. This includes regular reporting, compliance with regulations, and maintaining adequate records.