Dominica is a well-known offshore country located in the Caribbean. The country has up until recently been under British rule, and still has a legal system based on British common law. This has helped in providing a clear legal framework for offshore financial companies to operate in, and has also contributed to attracting offshore forex brokers over the years.
Offshore forex brokers in Dominica are not regulated by any government agency, but may instead sometimes be members of independent dispute resolution organizations. This means that forex brokers in Dominica are largely allowed to offer whatever trading conditions they see fit, as long as they are reasonably transparent with their clients and follow all relevant laws. As a result, trading leverage is generally high in Dominica at up to 1:1,000 for major fx pairs.