The Seychelles is another island nation that is home to a fair number of high leverage forex brokers, where most offer a maximum trading leverage of 1:500 on the most liquid currency pairs. The country has for many years been a popular jurisdiction for financial services providers, and the government therefore has long experience in dealing with these types of companies.
Forex brokers in the Seychelles should generally hold a license from the country’s Financial Services Authority (SFSA), but there are also brokers operating from the country without such oversight by the national regulator. In any case, the oversight provided by SFSA is very loose, and brokers are largely allowed to carry on their business without too much involvement from the government. The Seychelles’ regulator is also sometimes referred to by its previous name SIBA – or the Seychelles International Business Authority – which took over the financial regulatory responsibility from the central bank in 2013.