Offshore Forex Brokers in the Seychelles

In the Seychelles, offshore forex brokers should generally be licensed and regulated by the Seychelles Financial Services Authority (FSA). However, it is well-known that a number of forex brokers operate out of the Seychelles without holding such a license, and thus operating in a legal grey area.

Before the FSA was set up, offshore forex brokers in the Seychelles were overseen directly by the Seychelles International Business Authority, more commonly referred to as SIBA. For this reason, some forex brokers continue to refer to this regulator on their websites. Some brokers that operate in the Seychelles have also chosen to join independent dispute resolution organizations to compensate for not holding a license from the national regulator. However, the legality of this practice is uncertain.