Bermuda is a popular offshore jurisdiction in the forex brokerage industry, even though brokers there are not unregulated as in many other offshore countries in the Caribbean. Instead, forex brokers in Bermuda are regulated by the Bermuda Monetary Authority, or BMA for short. This is the government’s main financial regulator, and it is also tasked with overseeing Bermuda’s currency.
Due to the largely hands-off approach that regulators in Bermuda and the rest of the Caribbean are known for, most forex brokers in this region offer very high trading leverage to their clients. That also includes forex brokers in Bermuda, which often offer up to 1:500 in leverage to their non-professional clients.