BDSwiss
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72.5% of retails investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
7 Best Forex Brokers in Mauritius for 2023
Our Picks
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GO Markets
Visit GO Markets62% of retail CFD accounts lose money -
FXTM
Visit FXTM81% of retail investor accounts lose money
Forex (Foreign Exchange) brokerage firms are authorised to offer their trading services in Mauritius to Mauritian traders.
Mauritius, an island nation located in the Indian Ocean, uses the Mauritian rupee (MUR) as its official currency.
In the realm of forex trading, the regulatory body overseeing this activity in Mauritius is the Financial Services Commission (FSC).
Below you will find some of the best forex brokers in Mauritius. We have chosen these brokers according to these criteria:
- FSC Regulation
- Minimum Deposit
- Number of assets offered
- Base currencies accepted
- Spreads charged
- Leverage provided
- Range of Trading Platforms
- If Bonuses were available
Table of Content
What are the best forex brokers in Mauritius?
Below is our curated list of the best forex brokers for traders living in Mauritius, with details and information about the country laws, the features, and the characteristics.
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
BDSwiss : best forex broker overall
- BDSwiss is well regulated by FSC under the registration number C116016172.
- The BDSwiss minimum deposit starts from $10 in Mauritius.
- BDSwiss accounts can be opened in Mauritius with EUR, USD, and GBP base currencies.
- 200+ assets can be traded in Mauritius with BDSwiss.
- BDSwiss charges spread from 0.3 pips on 50+ forex pairs with leverage up to 500:1.
- BDSwiss offer their Mauritian clients a number of platforms including MT4, MT5, and WebTrader.
- BDSwiss bonuses are not offered to Mauritius clients.
72.5% of retails investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
GO Markets : best for algo trading
- GO Markets is a respected broker throughout the industry with FSC regulation in place under the number 19024896.
- The GO Markets minimum deposit is $200 in Mauritius.
- AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, and HKD base currencies are all available for Mauritian traders.
- GO Markets provides their Mauritian clients access to 600 tradable products in total, with 50+ forex pairs.
- In Mauritius, spreads at GO Markets start from 0 pips depending on the account type on the major pairs with leverage up to a 1:500.
- In Mauritius, GO Markets clients find platforms including WebTrader, MT5, and MT4.
- A 30% trading cash rebate is available for Mauritian clients.
Orbex : best for trading flexibility
- Orbex are well-regulated by the FSC under the name Orbex Global LTD, with a registered office in Ebène.
- The Orbex minimum deposit starts from $200 in Mauritius.
- USD and EUR base currencies are both accepted by the broker for Mauritian clients.
- Orbex Mauritian clients can trade by choosing among 80+ assets, including 45 forex pairs.
- When it comes to Orbex spreads, Mauritian traders find that spreads start from a great 0 pips on forex trading with leverage of up to 500:1.
- In Mauritius, Orbex allows the use of the MT4 platform.
- No Orbex bonus offers are available at the moment in Mauritius.
(Your capital is at risk)
FXTM : best for high leverage trading
- FXTM is a broker known around the world and regulated in Mauritius by the FSC, with the registration number C112012295, although they do not accept traders who are based in Mauritius.
- In Mauritius, the minimum deposit starts from $10 with FXTM.
- 250+ assets are offered to FXTM Mauritian traders, with 60+ forex pairs included.
- In Mauritius, trading with FXTM takes place through MT4, MT5, or WebTrader.
- FXTM spreads from 0 pips on major forex pairs, with leverage which can reach a maximum 2000:1 in Mauritius.
- FXTM Mauritian clients can benefit from a bonus of up to $5,000 available and a loyalty program.
FXDD : best for ECN trading
- Another broker regulated in Mauritius by FSC (reg. number C117017252) is FXDD.
- No minimum deposit amount is required in Mauritius. A $250 deposit is suggested by FXDD.
- USD, EUR, GBP, and CHF base currencies are the ones available for Mauritian clients.
- 100 FXDD assets are offered in Mauritius, including 50+ forex currency pairs.
- FXDD allows Mauritians to trade via the MT4, MT5, and WebTrader platforms.
- In Mauritius spreads start at 0.3 pips on forex with leverage up to 500:1 although it may be limited to 200:1 depending on your experience.
- No FXDD bonus is offered at the moment for Mauritian clients.
75% of retail investor accounts lose money
Hantec Markets : lowest trading costs
- Hantec Markets are regulated by the FSC under registration number C114013940.
- The Hantec minimum deposit starts from $50 for Mauritians.
- USD, EUR, GBP, and AED deposits are all available in Mauritius.
- Mauritian clients have access to 90+ assets, including 45 forex pairs.
- Mauritian traders can trade through the Hantec MT4 trading platform.
- Spreads in Mauritius start from a competitive 0.2 pips on forex with leverage stretching to 500:1 on major forex pairs.
- No Hantec bonus is currently offered to Mauritian clients.
65% of retail investor accounts lose money
Amana Capital : wide range of payment methods
- Amana Capital are well-regulated by the FSC under the registration number C118023192.
- The Amana minimum deposit for Mauritians is $50.
- EUR, USD and GBP are the base currencies accepted by Amana for Mauritian traders.
- A total of 800 assets are provided for Mauritian clients, with 50+ forex pairs included.
- Amana spreads in Mauritius start from 1.4 pips on forex with a leverage reaching 500:1.
- Trading with Amana can be done through both MT4 and MT5 platforms in Mauritius.
- A welcome bonus of $50 is offered if you deposit at least $100 with Amana.
(Your capital is at risk)
Is forex trading legal in Mauritius?
Forex trading is legal in Mauritius. Not only this, but brokers in Mauritius are regulated by one of the most recognized offshore bodies in the industry. That is the FSC. Although they are considered as offshore regulators and what many traders might consider the last rank of regulatory bodies, they are present nonetheless.
It is a must for forex brokers to be regulated by the local regulatory body in order to operate and luckily, all of our top featured brokers come with stellar and trusted reputations.
How to trade forex in Mauritius
If you do wish to trade forex in Mauritius you will require the same basic documents and proof that you would in another nation. This means the following must be provided by you:
- An ID (preferably passport) to confirm your identity.
- A Proof of residence in the form of a utility bill, bank statement or government correspondence.
Once you have provided these documents and passed the usually speedy verification process the brokers have in place, then you will be free to trade.
What should Mauritian traders look for in a forex broker?
As with trading in any country, there are a few things to be aware of when you begin trading forex as a Mauritian trader, and a few tips to help you along the way.
First, you should remember that the offshore regulation that exists here is somewhat more lenient than other places like CySEC in the EU. This can bring benefits in the form of increased leverage often up to 500:1 and more bonus offers. Just be careful of brokers that don’t offer negative balance protection.
Also, you should be aware that you can’t trade the following instruments in Mauritius:
- EUR-USD
- GBP-USD
- USD-MUR
- Gold
- Silver
- US Crude Oil
Beyond that, you can trade freely. Here are some tips on doing so:
1. Avoid brokers that are ONLY offshore regulated
Even though Mauritius brokers are all technically regulated offshore, you should avoid choosing a broker that only has this type of regulation. Many top brokers will feature this so they can reach all traders but will also be regulated well by a top-tier regulation at the same time. These include CySEC, ASIC, FCA, and others.
Be mindful that some forex scam brokers do feature only offshore regulation although this is not always the case.
2. Choose the broker before choosing the bonus
This is a big point to follow. Particularly with forex brokers in Mauritius where bonuses are legal. You should always choose brokers over bonuses. This means that even though you may be tempted by a great bonus offer, be sure to select the broker that best meets your needs when it comes to actual trading.
With that said, there are still some excellent no deposit bonus offers to be had, just make sure you read through all the terms and conditions before choosing.
3. Are you a beginner? Choose a broker with a good demo account
Due to the higher leverage availability especially (this can be as much as 500:1) it is essential you get in as much quality trading experience as possible if you plan to trade on leverage.
This means choosing a top forex broker with a great demo account. These accounts can function just like the real thing and often give you a great knowledge of how a broker and trading platform work before you put any money at risk.
How to verify if a forex broker is regulated in Mauritius
Trust but verify is important here as it is everywhere with your forex broker. You can easily check the official FSC website to verify this. Once you are here simply look for the firms register and type the business name of the broker in the search bar. This should display your broker and their current status. The business name can usually be found at the bottom of their homepage.
It is also recommended that you verify any other regulation that the broker may have in place. Here are links to the major bodies that you can check on:
- FCA (UK) firms register
- ASIC (AU) firms register
- ESMA (EU) firms register (You will need to know the EU country of registration for your broker)
Is forex trading taxable in Mauritius?
Forex trading profits in Mauritius are taxed. This tax rate currently stands at 10% for gains up to 650,000 MUR, or 15% on gains more than this amount. We recommend that you consult with a certified tax professional when it comes to these matters though.
About The Author
Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.
7 Best Forex Brokers in Mauritius for 2023
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