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
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, regulated by FSC Mauritius, offers forex trading with a minimum deposit of $10. BDSwiss provides MT4 and MT5 platforms for Mauritian clients. BDSwiss does not offer bonuses in Mauritius.
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About BDSwiss
BDSwiss is a global forex and CFD broker established in 2012, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. BDSwiss provides MetaTrader 4, MetaTrader 5, and proprietary platforms. BDSwiss is regulated by multiple authorities including CySEC and FSC. BDSwiss is known for competitive spreads, fast execution, and extensive educational resources. BDSwiss serves over 1.6 million registered traders worldwide.
BDSwiss Features
The features of BDSwiss are listed below.
- 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.
BDSwiss Pros and Cons
Advantages of BDSwiss
The advantages of BDSwiss are listed below.
- Extensive Symbol Offering
- MetaTrader Integration
- Regulatory Compliance
Disadvantages of BDSwiss
The disadvantages of BDSwiss are listed below.
- High Inactivity Fee
- Basic Proprietary Platform
GO Markets
best for algo trading
GO Markets, with FSC regulation, requires a minimum deposit of $200 in Mauritius. GO Markets offers competitive spreads starting from 0 pips and provides a 30% trading rebate for Mauritian clients.
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About GO Markets
GO Markets is an online broker offering CFD trading in different markets such as forex, commodities, indices and shares. GO Markets was founded in 2006 and is regulated by multiple authorities, including ASIC, CySEC, FSC, and FSA. GO Markets provides various trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and their proprietary GO WebTrader. GO Markets emphasizes fast execution, tight spreads, and educational resources for traders.
GO Markets Features
The features of GO Markets are listed below.
- 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.
GO Markets Pros and Cons
Advantages of GO Markets
The advantages of GO Markets are listed below.
- Fast Account Opening
- Excellent Educational Resources
- Competitive Spreads
Disadvantages of GO Markets
The disadvantages of GO Markets are listed below.
- Limited Product Portfolio
- No Investor Protection for Non-EU Clients
- High Minimum Deposit Requirement
Orbex
best for trading flexibility
Orbex, overseen by FSC Mauritius, requires a $200 deposit. Orbex offers trading on the MT4 platform in Mauritius with spreads starting from 0 pips. Orbex does not offer bonuses to Mauritian traders.
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About Orbex
Orbex is a global forex and CFD broker established in 2011, offering trading on currencies, commodities, indices, and cryptocurrencies. Orbex provides MetaTrader 4 and MetaTrader 5 platforms. Orbex is regulated by CySEC and the FSC of Mauritius. Orbex is known for competitive spreads, fast execution, and extensive educational resources. Orbex offers various account types including Islamic accounts. Orbex has received multiple industry awards for its services. The Orbex Managing Director is Abdullah Abbas.
Orbex Features
The features of Orbex are listed below.
- 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.
Orbex Pros and Cons
Advantages of Orbex
The advantages of Orbex are listed below.
- Comprehensive Educational Resources
- Fast Execution Speed
- Flexible Trading Options
Disadvantages of Orbex
The disadvantages of Orbex are listed below.
- Limited Geographic Availability
- High Inactivity Fees
FXTM
best for high leverage trading
FXTM, FSC-regulated in Mauritius, offers trading with a minimum deposit of $10. FXTM provides spreads starting from 0 pips with leverage reaching up to 2000:1 for Mauritian clients.
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About FXTM
FXTM, also known as ForexTime, is a global forex and CFD broker founded in 2011. FXTM offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4, MetaTrader 5, and proprietary platforms. FXTM is regulated by multiple authorities including CySEC, FCA, and FSC Mauritius. FXTM is known for low spreads, fast execution, and extensive educational resources. FXTM serves over 2 million clients worldwide. The FXTM CEO is Nicholas Defteras.
FXTM Features
The features of FXTM are listed below.
- 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.
FXTM Pros and Cons
Advantages of FXTM
The advantages of FXTM are listed below.
- User-Friendly Platform
- Fast Customer Support
- Low Minimum Deposit
Disadvantages of FXTM
The disadvantages of FXTM are listed below.
- Withdrawal Fees
- Limited Product Range
- Inactivity Fees
FXDD
best for ECN trading
FXDD, regulated by FSC Mauritius, suggests a $250 deposit but does not set a minimum. FXDD offers trading with spreads starting at 0.3 pips using MT4 and MT5 platforms for Mauritian clients.
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About FXDD
FXDD is a global forex and CFD broker founded in 2002, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FXDD provides MetaTrader 4, MetaTrader 5, and a proprietary WebTrader platform. FXDD is regulated by multiple authorities including MFSA in Malta and FSC in Mauritius. FXDD is known for competitive spreads, fast execution, and extensive educational resources. FXDD offers various account types including ECN accounts. The FXDD CEO is Joseph Botkier.
FXDD Features
The features of FXDD are listed below.
- 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.
FXDD Pros and Cons
Advantages of FXDD
The advantages of FXDD are listed below.
- Low Minimum Deposit
- Comprehensive Market Analysis
- VPS for Automated Trading
Disadvantages of FXDD
The disadvantages of FXDD are listed below.
- High Withdrawal Fees
- Steep Charges for Small Withdrawals
- Inactivity Fees
Hantec Markets
lowest trading costs
Hantec Markets, under FSC regulation, offers trading with a minimum deposit of $50 for Mauritians. Hantec Markets provides competitive spreads from 0.2 pips, using the MT4 platform for forex trading in Mauritius.
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About Hantec Markets
Hantec Markets is a global forex and CFD broker founded in 1990, offering trading on currencies, commodities, indices, and stocks. Hantec Markets provides MetaTrader 4 and MetaTrader 5 platforms. Hantec Markets is regulated by multiple authorities including FCA, ASIC, and FSA. Hantec Markets is known for competitive spreads, fast execution, and extensive educational resources. Hantec Markets offers various account types including Islamic accounts. Hantec Markets has received multiple industry awards for its services. The Hantec Markets CEO is Nader Nurmohamed.
Hantec Markets Features
The features of Hantec Markets are listed below.
- 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.
Hantec Markets Pros and Cons
Advantages of Hantec Markets
The advantages of Hantec Markets are listed below.
- User-Friendly Platforms
- Regulatory Compliance
- Competitive Fees
Disadvantages of Hantec Markets
The disadvantages of Hantec Markets are listed below.
- Limited Educational Resources
- Withdrawal Fees
Amana Capital
wide range of payment methods
Amana Capital, FSC-regulated in Mauritius, sets a minimum deposit of $50. Amana Capital offers spreads from 1.4 pips using MT4 and MT5 platforms, with a $50 welcome bonus for a $100 deposit.
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About Amana Capital
Amana Capital is a global online trading broker established in 2010, offering trading on forex, metals, commodities, indices, cryptocurrencies, and stocks. Amana Capital provides multiple trading platforms and API solutions. Amana Capital is regulated by multiple authorities including CySEC. Amana Capital is known for competitive pricing and advanced technology. Amana Capital serves both retail and institutional clients. Amana Capital has recently undergone significant transformation and expansion. The CEO of Amana Capital is Muhammad Rasoul.
Amana Capital Features
The features of Amana Capital are listed below.
- 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.
Amana Capital Pros and Cons
Advantages of Amana Capital
The advantages of Amana Capital are listed below.
- Strong Regulatory Framework
- Negative Balance Protection
- Competitive Trading Fees
Disadvantages of Amana Capital
The disadvantages of Amana Capital are listed below.
- Mixed Customer Feedback
- Limited 24/7 Support
- Higher Spreads on Standard Accounts
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
- 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.