Bermuda is home to a number of CFD forex brokers, many of which use Bermuda as convenient jurisdiction to serve traders around the world from. Most financial services companies in Bermuda, including CFD & forex brokers, hold a license from the Bermuda Monetary Authority, or BMA for short. In addition to regulating CFD forex brokers, BMA is also responsible for issuing and overseeing Bermuda’s currency, the Bermuda dollar. However, it is also known that some brokers operate Bermuda-registered companies without being licensed by the BMA.
As a British Overseas Territory in the North Atlantic, Bermuda has a long history of attracting companies in the financial services industry to incorporate there. The territory provides a reliable legal framework for businesses combined with low taxes. The regulator in Bermuda is also known to take a laid-back approach to financial regulation, which explains why many CFD forex brokers in Bermuda can offer such attractive trading conditions.