In the Cayman Islands, low spread forex brokers are licensed by the Cayman Islands Monetary Authority (CIMA), which is also the agency in charge of the national currency, the Cayman Islands dollar. Although this Caribbean nation has a long history of attracting companies from the US & Canada in particular, the Cayman Islands is not home to as many low spread forex brokers as some of the other countries in the region.
Traders should note, however, that being located in the Cayman Islands does not necessarily equal low spreads and commissions on trading instruments. In reality, trading conditions can vary quite a bit from one broker to another. To ensure the lowest spreads that are available in the Cayman Islands, it is therefore important to do proper research before choosing a broker to trade with.