Saint Vincent and the Grenadines is one of the most popular offshore jurisdictions for forex brokers in the world. The Caribbean nation is known for its low taxes and ease of doing business, while also exercising very little oversight over forex brokers registered there.
Traders who are considering to open an account with a forex broker in the Saint Vincent and the Grenadines should know that the government does not “regulate, monitor, supervise or license” any forex brokers. This is clearly stated on the website of the Saint Vincent and the Grenadines Financial Services Authority, which means that any broker that claims to be regulated in the country, is being dishonest.
However, lax regulations also mean great opportunities for forex traders who want to take advantage of high trading leverage, which is often as high as 1:1000 in Saint Vincent and the Grenadines.