For many years, Saint Vincent & the Grenadines (SVG) was the favorite offshore base of forex brokers. The draw? Cost, ease of inclusion, and negligible regulation. That chapter has now closed.
The new rules in SVG
Saint Vincent now requires Forex brokers to submit valid licenses from the jurisdictions they are headquartered in. This isn’t just a formality. Certified proof of licensing is mandatory to avoid penalties, and those who fail to submit regulator confirmation or application proof within 45 days will be de-registered and possibly shut down.
In short: SVG is now no longer a place where the unlicensed are safe.
Why it matters
Certainly, new rules raise compliance costs and improve international standing. Setting up is no longer quite the deal it once was, but you gain stronger credibility. Banks, PSPs, and partners are significantly more likely to partner with brokers who hold established licenses, and SVG itself is indicating that it wants to act as a credible partner jurisdiction.
Alternatives to SVG
As SVG shut down to unlicensed parties, brokers are in a scramble. These are the core options still in play:
- St. Lucia
- You can still register a company without a license.
- Quick and cheap, but credibility is low and there are a few banking options.
- Marshall Islands
- Once popular, but they no longer accept forex/CFD registration.
- St. Kitts
- Had to think about that for a second, but then access to forex formations has been cut off.
Regulated territories (Seychelles, Labuan, Vanuatu, Cyprus)
- Need real licenses, offices, and compliance.
- Higher initial investment, but supply global quality, bank-ability, and long-term sustainability.
Quick comparison
| Jurisdiction | License Needed? | Cost/Speed | Global Reputation |
| SVG (now) | Yes | Medium | Improving |
| St. Lucia | No | Fast/Low | Limited |
| Marshall Islands | Closed | N/A | N/A |
| St. Kitts | Closed | N/A | N/A |
| Seychelles/Labuan/Cyprus/Vanuatu | Yes | High | Strong |
What brokers should do now
- Already in SVG without a license? File for one right away, or you could face deregistration.
- Considering St. Lucia? It’s a band-aid, not an answer.
- Planning for growth? Licensed jurisdictions are the only realistic route if you want to be considered credible by banks, investors, and legitimate clients.
Final take
The SVG offenders won’t be the end of offshore forex — it’s a new beginning. The industry is shifting toward more transparency and legality. Those brokers that respond to change will be in the best position for long-run success. Those who do not get on board will be left behind.