Although it is not among the world’s major financial hubs, Mauritius is still home to many FX brokers. This is simply one of the many nations where the majority of brokers have formed local operations. The residence status of the trader and the particular policies of each offshore broker Mauritius typically determine which branch the trader is permitted to trade with.
FSC, which is in charge of overseeing the monetary industry, oversees all forex brokers. With high trading leverage being the standard there, this authority often adopts a more permissive approach to FX broker laws than in the EU and US. Some of the leading offshore forex brokers in Mauritius are listed below.
What features should an FX broker possess?
When you start dealing in the FX market in Mauritius, there are several aspects to be mindful of as with trading in any nation.
First of all, keep in mind that the offshore regulative framework in place here is a little laxer than it is in other locations, such as CySEC in Europe. Benefits include higher leverage—often up to 500:1—and more bonus offers as a result.
Additionally, you should be in the know that the below-listed pairs cannot be traded in Mauritius:
- USD-MUR;
- EUR-USD;
- GBP-USD;
- USD-MUR;
- Gold-USD;
- Silver-USD;
- and US crude oil-USD.
Is FX trading tax deductible?
Profits from trading are taxed in Mauritius. Currently, this tax rate is 10% for gains up to 650,000 MUR and 15% for gains above this threshold. However, when it comes to these issues, we advise that you speak with a licensed tax expert.
Overview of best Forex brokers in Mauritius 2023
Amana Capital
- The FSC has Amana Capital under registration number C118023192 under strict regulation.
- The min. deposit is $50.
- The base currencies that Amana accepts for Mauritian traders are EUR, USD, and GBP.
- Mauritian clients get access to a total of 800 assets, covering more than 50 currency pairs.
- Amana spreads on FX in Mauritius begin at 1.4 pips with a maximum leverage of 500:1.
- Traders can use the MT4 and MT5 platforms to transact with Amana.
- If you make a deposit of at least $100 with Amana, you’ll receive a $50 welcome bonus.
GO Markets
- GO Markets is a well-regarded Mauritius forex broker with FSC regulation in place and the 19024896 registration number.
- The min. deposit is $200.
- Mauritian traders have access to the base currencies AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, and HKD.
- GO Markets offers their clients access to more than 50 currency pairs and 600 total tradable products.
- At GO Markets in Mauritius, spreads on the major pairs start at 0 pip subject to the account type, and leverage is accessible up to 1:500.
- Clients of GO Markets can use platforms like WebTrader, MT5, and MT4.
- Mauritian clients are eligible for a 30% trading cash rebate.
Orbex
- Orbex Global LTD, doing business as Orbex, is well-regulated by the FSC and has its registered office in Ebène.
- The min. deposit is $200.
- The broker accepts Mauritian clients in base currencies of USD and EUR.
- Clients of Orbex in Mauritius have access to more than 80 trading assets, covering 45 currency pairs.
- Mauritian traders who trade with leverage up to 500:1 find that Orbex spreads start at a fantastic 0 pips.
- Orbex permits the use of the MT4 platform.
- There are currently no bonus offers.
BDSwiss
- The FSC has effectively regulated BDSwiss since it received the number C116016172 (registration).
- The minimum deposit is $10.
- Accounts with BDSwiss can be opened in Mauritius using the base currencies of EUR, USD, and GBP.
- BDSwiss allows the trading of more than 200 assets.
- Spreads start at 0.3 pips on more than 50 forex pairs at BDSwiss, which provides leverage up to 500:1.
- MT4, MT5, and WebTrader are just some of the platforms that BDSwiss provides to its Mauritian customers.
- Local customers are not eligible for BDSwiss bonuses.
FXTM
- FXTM is a well-known Mauritius forex broker with a registration number of C112012295 but it does not allow traders who are based in Mauritius.
- The minimum deposit is $10.
- Mauritian traders using FXTM have access to more than 250 assets, including more than 60 forex pairs.
- FXTM trading can be done using MT4, MT5, or WebTrader.
- FXTM spreads start at 0 pip on the most popular forex pairs, and the maximum leverage available is 2000:1.
- A bonus of up to $5,000 is offered for FXTM clients, and there is also a loyalty program.
Hantec Markets
- Hantec Markets is subject to FSC regulation and has registration number C114013940.
- The minimum deposit is $50.
- Deposits are accepted in USD, EUR, GBP, and AED.
- Clients have access to 90+ assets, covering 45 currency pairs.
- Hantec’s MT4 trading platform is available to traders.
- Spreads on popular currency pairings start at a competitive 0.2 pips, and leverage can reach 500:1.
- Mauritian customers are not presently eligible for any Hantec bonuses.
FXDD
- FXDD is another broker with a brokerage license in Mauritius by the FSC (reg. number C117017252).
- No minimum deposit obligation. The suggested deposit by FXDD is $250.
- For Mauritian clients, the base currencies accessible are USD, EUR, GBP, and CHF.
- FXDD offers 100 assets, including more than 50 foreign currency pairings.
- Mauritians can trade using the MT4, MT5, and WebTrader platforms thanks to FXDD.
- Spreads on forex start at 0.3 pips, yet depending on your level of experience, you could only be able to use a leverage of 200:1.
- There is currently no bonus available to Mauritius clients.