Is an offshore company the same as a forex licence?

No. A company registered in St Lucia or St Vincent and the Grenadines is a corporate vehicle. It is not authorised by a securities regulator to deal in forex or CFDs for clients.

How do I choose between Mauritius and Seychelles?

Both regulators license broker-dealers serving international clients. The choice usually turns on licence category, capital, local substance and banking. Compare our Mauritius and Seychelles guides, or ask us for a side-by-side assessment for your structure.

Can I buy an existing licensed broker instead of applying?

Sometimes. The regulator must still approve the change of control, and the target needs full legal, regulatory and financial due diligence.

Forex License: Regulated Jurisdictions Compared (2026)

A forex or CFD brokerage needs authorisation from a securities regulator in the jurisdiction it operates from, and often in the markets it serves. The jurisdictions below are the ones Zitadelle AG advises on most often. They differ in market access, regulator standing, capital, substance and banking, so the right choice depends on who your clients are and how you plan to operate.

In short

EU and EEA clients: only a CySEC-authorised Cyprus Investment Firm on this list can passport services across the EEA under MiFID II.
International clients outside the EEA: Mauritius, Seychelles, Labuan, Vanuatu and Panama each license broker-dealers under their own securities laws.
Company set-ups in St Lucia or St Vincent and the Grenadines are not licences from a securities regulator.
Capital, fees and timelines differ by licence category; each jurisdiction guide below sets them out.

Regulated forex licence jurisdictions

Jurisdiction	Regulator	Authorisation	EEA passporting	Guide
Cyprus	Cyprus Securities and Exchange Commission (CySEC)	Cyprus Investment Firm (CIF) under MiFID II	Yes	Cyprus CIF guide
Mauritius	Financial Services Commission (FSC)	Investment Dealer (Full Service Dealer, excluding Underwriting)	No	Mauritius forex licence guide
Seychelles	Financial Services Authority (FSA)	Securities Dealer	No	Seychelles securities dealer guide
Labuan (Malaysia)	Labuan Financial Services Authority	Money Broking licence	No	Labuan money broking guide
Vanuatu	Vanuatu Financial Services Commission (VFSC)	Financial Dealers Licence	No	Vanuatu FDL guide
Panama	Superintendencia del Mercado de Valores (SMV)	Casa de Valores (broker-dealer)	No	Panama broker licence guide

Capital, fees and timelines are set out on each jurisdiction page.

Company set-ups that are not a forex licence

Our St Lucia and St Vincent and the Grenadines pages cover company set-up routes rather than a licence from a securities regulator. They can suit some proprietary-trading and technology structures, but they do not replace a regulated broker licence where your target markets require one.

St Lucia forex company setup SVG forex company setup

Buying an existing licensed company

Acquiring an already-licensed entity can be an alternative to a new application. The regulator still has to approve the change of control, and the entity's history needs full due diligence.

See licensed companies for sale

What we need to recommend a route

Where your clients are, and whether you need to serve EEA clients
Products: FX and CFDs, crypto-asset products, other securities
Execution model: agency (A-book), principal (B-book) or hybrid
Whether you will hold client money
Your budget and target launch date
Existing group companies, licences and people you can place in the jurisdiction

How Zitadelle AG helps

We compare jurisdictions against your client base, product range and budget, then prepare the application, policies and substance plan for the regulator you choose.

Frequently Asked Questions

Of the jurisdictions on this page, only a CySEC-authorised Cyprus Investment Firm can passport its services across the EEA under MiFID II. Licences from Mauritius, Seychelles, Labuan, Vanuatu or Panama do not carry EEA passporting rights.