Top 5 Best FSA Regulated Forex Brokers 2024

The Financial Services Authority of Seychelles is a top choice for traders looking for an offshore regulated forex broker. This guide picks the best FSA regulated forex brokers.
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Updated: Jun 25, 2024
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Over the course of the past decade, the Financial Services Authority of Seychelles has become a trusted jurisdiction for forex brokers. Our trading experts have reviewed and selected the best FSA regulated forex brokers and this guide explains how to start using one. 

Best FSA FX brokers overall for 2023

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  1. eToro: Best for beginners, copy-trading & demo-account
  2. Plus500: Best for international CFD trading*

What are the best brokers regulated by FSA Seychelles?

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You can find our expert selections below. Each one is FSA regulated and you can register an account in just a few minutes by clicking on the links. Alternatively, keep scrolling f you want to learn more about each platform.

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1
Min. Deposit
$ 100
Best offer
User Score
9.9
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

51% of retail CFD accounts lose money. Your capital is at risk.

2
Min. Deposit
$ 100
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
Min. Deposit
$ 0
Best offer
User Score
8.0
Open a free account in minutes
Go global with fee-free foreign exchange
Finance tracking made simple
Start Trading
Payment Methods:
Debit Card, Credit Card
Full Regulations:

Top 5 FSA regulated brokers

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1. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency CFD trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

51% of retail CFD accounts lose money. Your capital is at risk.

2. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 60 forex pairs with leverage up to 30:1. 

Plus500 has something for all types of forex trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding which is dependent on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What is a Seychelles FSA regulated broker?

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It’s a forex broker that operates under Seychelles’ Financial Services Authority (FSA) regulation. The FSA is a government body responsible for regulating the financial services sector in the country, ensuring that the companies operating in the market adhere to strict standards of conduct, financial stability and security. 

Benefits of using an FSA regulated forex broker

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The FSA Seychelles covers all financial services providers operating in the country, including forex brokers. The main objective of the FSA is to ensure the stability, efficiency, and integrity of the financial services sector in Seychelles. 

To achieve this, it has set several rules and regulations that oversee the financial services sector in the Seychelles. 

Here are a few benefits of using a forex broker regulated by the financial services authority Seychelles. 

  • Increased protection. Seychelles FSA regulated brokers are required to maintain a certain level of capital, which protects against market fluctuations and protects traders’ investments.  
  • Fair and transparent practices. Forex brokers operating under the FSA Seychelles must follow specific rules, such as providing accurate market quotes and transparent pricing and execution. This means that by using an FSA regulated broker, you will not fall prey to broker manipulation.
  • Segregated client funds. Another requirement the FSA has in place is segregated client funds. When you register with a Seychelles forex broker, your money will be kept in a different account from the one the broker uses for its everyday business activities.  
  • Quality customer support. FSA regulated brokers must have proper customer support systems, ensuring that traders receive prompt and effective assistance when needed.

How to Check FSA Regulation

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To check if the FSA Seychelles regulates a Forex broker, you should visit the broker’s website and look for information on their regulatory license. This information is usually available on the broker’s “About Us” page or at the footer of their website homepage. The broker should provide their regulatory license number, which you can cross-reference with the official FSA website.

To cross-reference the regulatory license, go to the FSA Seychelles website and look for a section on Licensed Providers. You can search for the broker by name or license number and confirm if the FSA regulates them. The FSA maintains an up-to-date and comprehensive list of licensed providers.

How should I choose a broker regulated by the FSA?

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Once you’ve checked if a broker is regulated by the Seychelles FSA, you can consider the following features to help you choose the best option for you. 

  • Reputation. Look for reviews and ratings from other traders to find out if the broker is known to have any issues. You can use online forums to find reviews from other traders to help you decide if the broker is worth signing up for. 
  • Trading Platforms and Tools. Make sure the broker offers a trading platform that meets your needs and provides the necessary tools to help you make informed trading decisions. Most FSA regulated brokers will offer common platforms like MT4, but if you want to use another, check if it’s available. 
  • Customer Support. Check that the broker has a responsive and effective customer support system and clear and accessible terms and conditions for their services. One easy way to do this is by using its live chat feature before registering an account. 
  • Trading Conditions and fees. Consider the broker’s trading conditions, including the spread, leverage, and available markets, to ensure that your requirements are available. 
  • Security of Funds. It is important to ensure that a forex broker follows proper security protocols and keeps client funds in a segregated account, as the FSA requires. You can check this in their terms and conditions, although the best forex brokers will make this information clearly available on their websites. 

Should I use FSA regulated brokers?

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Yes, using an FSA Seychelles-regulated forex broker could be a good option, especially if you cannot use brokers covered by other authorities. The FSA Seychlles does not have the reputation of regulators from other jurisdictions such as the FCA in the United Kingdom, however it is relatively new and many of the world’s top forex brokers hold licences with it. 

One of the key benefits of using a Seychelles FSA forex broker is the available leverage on offer. Other regulatory bodies have strict rules regarding retail forex traders and leverage; however, this is fine with the FSA and it is possible to obtain high leverage. 

The Seychelles FSA also imposes stringent rules on forex brokers, such as requiring them to keep clients’ funds in separate accounts and supply fair trading conditions. This makes the FSA Seychelles a good option for forex traders wanting a safe and regulated forex broker.

Choose an FSA regulated broker >

What are the risks of using a FSA regulated broker?

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The main risk of using an FSA regulated forex broker is losing your money, however, that risk is mainly down to losing trades, as opposed to foul play on the broker’s part. Here’s a selection of the pros and cons of using an FSA Seychelles regulated forex broker.

Benefits

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  • Client funds are kept in segregated accounts
  • FSA forex brokers generally offer higher leverage
  • You can start with as little as £10
  • Demo trading is available

Risks

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What are the fees for using a FSA regulated broker?

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Your fees will depend on the forex broker you choose, as all platforms have slightly different charges. However, you can expect to pay spreads, commissions, or a combination of both. 

Spread is the difference between the buy and sell price of a specific forex pair and commission is the fee charged by the broker for facilitating a trade. Other fees may include payment charges or swaps. 

Methodology: How did we choose the best FSA regulated brokers?

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 63 forex trading platforms to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of forex experts, analysts, and active traders who sign up to each broker, conduct research, and score each service.

Our tests are designed to find foreign exchange platforms that offer a beginner-friendly, secure trading experience at a fair price. To supplement our practical testing and experience, we research each service to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each forex broker is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual brokers to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

FAQs

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Do I have to live in the Seychelles to use an FCA regulated forex broker?
What is the difference between FSA and FCA?


Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.