FSA (Seychelles) Regulated Forex Brokers

Seychelles has become a popular hub for forex trading, thanks to its favourable regulatory environment and attractive tax benefits. The country’s reputation as an offshore financial centre has attracted quite a number of investors. However, traders should only invest with regulated brokers no matter the jurisdiction. Forex brokers in Seychelles are regulated by the Financial Services Authority (FSA), which oversees forex trading in the country. This article will look at some of the best FSA-regulated forex brokers. 

Understanding Forex Trading in Seychelles

Forex trading in Seychelles is legal with the FSA keeping the markets in check. The FSA's regulatory framework offers a balance of oversight and flexibility, making it appealing to both brokers and traders. However, it is important to remember that the FSA's regulatory framework may not be as stringent as that of other global regulators. FSA provides limited investor protection compared to more robust regulators like the FCA (UK) or the ASIC (Australia).

As such, as we list some of the best brokers with FSA regulations, we will also consider the regulations they hold in other jurisdictions. Below are the full criteria we will be using to make our selections for this article:

Our Criteria For Choosing FSA-Regulated Brokers

• Regulation - Above everything, we will consider the regulatory status of a broker. We will check whether they are FSA-regulated and then consider what other regulations they have. 
• Collection of Market Products - The selection of market products available on a broker site determines how well a trader can diversify their portfolios.
• Spreads and Other Fees - It is also very crucial to evaluate and compare the fees that each broker charges. The lower the fees, the better the trading experience.
• Trading Platform Provided - Consider the trading platform and tools offered by the broker. Most FSA-regulated brokers provide access to popular platforms like MetaTrader 4 and MetaTrader 5.

Using the criteria above, here are some of the best FSA-regulated brokers in Seychelles.

Tickmill

Tickmill is a reputable Forex broker operating under the regulation of the Financial Services Authority (FSA) in Seychelles. It holds the license number SD008. In addition to its FSA regulation, Tickmill also holds regulatory licenses from top-tier authorities such as the FCA in the UK and the CySEC in Cyprus, which helps ensure a safer trading environment.

Tickmill offers a wide range of market products including forex, stock indices, metals, bonds, commodities, and cryptocurrencies. To trade these markets, investors can use include MetaTrader 4, MetaTrader 5, and mobile apps. Additionally, Tickmill supports the use of VPS services for those looking to maintain high execution speeds.

One of the standout features of Tickmill is its low-cost trading. The Classic account offers spreads starting from 1.6 pips with no commissions. In contrast, the Pro account provides spreads starting from 0.0 pips, with a commission of 2 currency units per side for every 100,000 traded. Finally, the VIP account offers spreads from 0.0 pips but with a reduced commission of 1 currency unit per side for every 100,000 traded.

The minimum deposit required to trade with Tickmill is $100. Traders can choose from various payment options, including Bank Transfers, Credit/Debit Cards, Skrill, Neteller, and SticPay, among others. English is one of the supported languages on Tickmill which traders in Seychelles can use.

72% of retail investor accounts lose money when trading CFDs with this provider.

Exness

Exness is a global forex and CFDs broker with a presence in many countries around the world. In Seychelles, this broker operates under the regulation of the FSA with the license number SD025. Additionally, this broker has regulations by other organisations around the world including the FCA in the UK, the CySEC in Cyprus, and the FSCA in South Africa, among others. 

In terms of market products, this broker gives its clients access to over 250 different instruments. These include CFDs on forex, stocks, cryptocurrencies, commodities, and indices. There are various trading platforms to pick from. Traders can pick from MetaTrader 4, MetaTrader 5, and Exness Terminal. Further, the spreads that apply when trading depends on the account that a trader decides to use.

There are five different accounts to choose from including two standard accounts and three professional accounts. The standard account has a spread from 0.2 pips while the standard cent account has a spread from 0.3 pips, both of which do not charge a commission. The professional accounts include the raw spread and zero accounts with spreads as low as 0.0 pips with commissions. The commission on the raw spread account is up to $3.5 per side per lot. On the other hand, the commission on the zero account is floating starting from $0.2 upwards. The Pro account comes with ultra-low spreads as low as 0.1 pips with no commissions required.

There are several supported languages on this broker which include English and French that are spoken in Seychelles. The minimum deposit is a mere $10 with a plethora of payment options available including Wire Transfers, Skrill, Neteller, Credit and Debit cards, and Mobile Money e.g. M-Pesa.

Remember that forex and CFDs available at Exness are leveraged products and can result in the loss of your entire capital.
Please ensure you fully understand the risks involved.

FP Markets

FP Markets is another well-established forex broker that operates under the regulation of the FSA in Seychelles with license number SD130. Additionally, this FP Markets has a regulatory license from the ASIC in Australia, the CySEC in Cyprus, and the FSCA in South Africa. Like Exness, FP Markets supports both English and French which are two of the main languages in Seychelles.

One of the key advantages of this broker is that it offers traders access to over 10,000 market products across various asset classes. Investors can trade forex currency pairs, along with CFDs on indices, metals, stocks, commodities, ETFs, cryptocurrencies, and bonds. The ability to diversify a portfolio within a single broker platform is a highly attractive feature. Additionally, the broker supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, TradingView, Iress, and cTrader, to suit a wide range of trading preferences.

On another note, FP Markets offers competitive pricing to maximise trading profits. Its Standard account features spreads as low as 1.0 pips on major currency pairs without commissions. For traders seeking even tighter spreads, the Raw account offers spreads starting from 0.0 pips, but with a $3 commission per side per lot.

The minimum deposit to start investing with FP Markets is $100 and the broker supports a variety of payment options. These include Credit/Debit Cards, Bank Transfers, Neteller, Skrill, PayTrust (Local Bank Transfer), Crypto Payments, and more.

72.92% of retail CFD accounts lose money

HFM

HFM (HF Markets) is another well-regarded Forex broker operating under the regulation of the FSA in Seychelles with license number SD015. In addition to its FSA regulation, HFM is regulated by several other authorities. These include the FCA in the UK, CySEC in Cyprus, and the FSCA in South Africa, among others. This broker does not have a minimum deposit requirement on most of its accounts. Some of the payment options supported by this broker include Wire Transfers, Credit and Debit cards, Skrill, Neteller, iPay, and Cryptocurrencies. Both French and English are supported by HFM which are popularly spoken in Seychelles. 

Once a trader successfully funds their account, they gain access to a plethora of market instruments totalling over 1,000 assets. These include assets in global markets such as forex, commodities, bonds, ETFs, metals, energies, indices, stocks, and cryptocurrencies. To trade these market products traders can use MetaTrader 4, MetaTrader 5, and HFM Platform. 

The Premium and Cent accounts offer spreads starting from as low as 1.2 pips on major currency pairs, with the added advantage of commission-free forex trading. The pro account offers spreads starting from 0.5 pips on major currency pairs and does not charge commission on forex trades. Meanwhile, Pro Plus accounts have spreads as low as 0.2 pips on major currency pairs and do not charge commission on forex trades. Further, the zero account boasts spreads as low as 0.0 pips on major currency pairs, but it comes with low commissions starting from $3 per side per lot.

70% of retail investor accounts lose money when trading CFDs with this provider.

eToro

eToro is a globally renowned forex and CFD broker that operates under the regulation of the FSA in Seychelles, with license number SD076. On top of that, eToro has oversight from other reputable authorities. These include the FCA in the UK, the ASIC in Australia, among others. The minimum deposit accepted by this broker depends on the country where a trader lives. In most countries it is $100. Some of the payment options available to use on this broker site include Credit/Debit Cards, Bank Transfers, Skrill, Neteller, and PayPal, among others.

What sets eToro apart is its innovative social trading feature accessible via its proprietary platform eToro. This platform gives traders access to a wide range of market products, including forex, stocks, and cryptocurrencies as well as CFDs on commodities, indices, forex, cryptocurrencies, indices, stocks, and ETFs. 

Further, the broker allows its traders to trade using some of the lowest spreads in the market. Major currency pairs have a spread as low as 1.0 pips with no commission charged. Both English and French are supported by eToro making it ideal for traders in Seychelles.

Admiral Markets

Admiral Markets provides access to a wide range of financial instruments including forex, commodities, indices, stocks, ETFs, and bonds. Traders trade these various instruments on market standard platforms. The platforms available to choose from include MetaTrader 4, MetaTrader 5, WebTrader, and Admirals Mobile App.

Positively, Admiral Markets does not require a trader to pay hefty fees. Admiral Markets offers some of the lowest spreads in the market depending on the account a trader uses. The Trade.MT5 account has spreads starting from as low as 0.5 pips on major currency pairs. This is the main trading account on Admiral Markets. The other accounts feature spreads starting from 0.0 pips with commissions paid. The commissions range from $1.8 to $3 per lot depending on the account.

Traders in Seychelles will be glad to know that Admiral Markets is a regulated entity in the country. It operates under the supervision of the FSA with the license number SD073. Beyond its FSA regulation, Admiral Markets is also regulated by several top-tier authorities such as the FCA in the UK, CySEC in Cyprus, and the ASIC in Australia.

To start trading with Admiral Markets, a minimum deposit of $1 is required for the Invest.MT5 account. Payment options include Bank Transfers, Credit/Debit Cards, Skrill, Neteller, and PayPal, among others. Admiral Markets supports multiple languages, including English, making it a convenient option for traders based in Seychelles.

Final Comments

Seychelles has established itself as a favourable location for forex trading with regulatory oversight by the FSA. When selecting a forex broker in Seychelles, it's crucial to prioritize the regulation above everything. 

From there, traders can consider other factors such as market product diversity, competitive fees, and a user-friendly trading platform. This article has highlighted several reputable FSA-regulated brokers, each with unique offerings. Remember to conduct thorough research and consider your individual trading goals before making a final decision. After all, this article offers only a general overview of forex brokers in Seychelles.