Mauritius FSC Licence Explained
The Financial Services Commission (FSC) of Mauritius licenses forex brokers as Investment Dealers, with licence numbers often in the form GBxxxxxxxx. Its public register lets you check any licensee. It's a genuine licence from a recognised financial centre, but protection is still far weaker than in the UK or EU, with no compensation scheme we could find. We place it between the top tier and the smaller offshore centres.
What the FSC is
The Financial Services Commission, Mauritius regulates non-bank financial services. It publishes a register of licensees under the Financial Services Act 2007, listing each licensee’s name, licence date and licence type. The FSC notes the register is for information only.
Forex and CFD brokers typically hold an Investment Dealer licence. The register shows licence categories such as full-service dealer, broker and discount broker.
Brokers we cover with a Mauritius licence
| Broker | Company | Licence |
|---|---|---|
| XMTrading (Japan only) | Fintrade Limited | GB20025835 |
 Vantage |
VIG Group | GB20026165 |
 Exness |
Exness (MU) Ltd | GB20025294 |
| FXGT group | GT Markets Capital Ltd | GB24203727 |
Group companies may serve different regions. FXGT’s retail clients, for example, are served by its Seychelles company. Check your client agreement.
How to verify
- Open the FSC’s register of licensees.
- Search the exact company name from your client agreement.
- Confirm the licence type (investment dealer) and that no lapse or revocation note appears.
- Confirm the broker’s website and contact details match.
What it does and doesn’t give you
Does: a licensed company in a recognised offshore financial centre, a public register, and a regulator that can sanction licensees.
Doesn’t: UK/EU leverage caps or mandatory negative balance protection, and no investor compensation scheme for forex clients that we could find. Your protection if the broker fails depends on its client-money arrangements: see segregated funds and compensation.
Don’t confuse the FSCs
“FSC” can mean Mauritius, Belize (XM Global’s regulator) or the British Virgin Islands (one of Exness’s). They’re different regulators with different rules. See licences ranked by tier and compare with Seychelles FSA. Brokers ranked by licence: safest offshore brokers.
Related
- How to Spot a Scam Forex Broker: 7 Checks
- Forex Broker Licences Ranked by Tier
- Japan FSA Warnings: What They Mean for Offshore Brokers
- Segregated Funds and Investor Compensation Explained
- What Happens to Your Money if a Broker Goes Bust
- Seychelles FSA Licence: How Strong Is It?
- Vanuatu VFSC Licence Explained
- CySEC Regulation: What It Covers
- Forex Glossary
Frequently asked questions
Is FSC Mauritius a good regulator?
It's one of the more established offshore regulators, with a searchable public register. It still doesn't offer the compensation or leverage limits of UK or EU regulation.
Which brokers are licensed in Mauritius?
From our database: Fintrade Limited (XMTrading, GB20025835), VIG Group (Vantage, GB20026165), Exness (MU) Ltd (GB20025294) and GT Markets Capital Ltd (FXGT group, GB24203727).
Is FSC Mauritius the same as FSC Belize or FSC BVI?
No. They're separate regulators that share an abbreviation. Always check which country's FSC a broker means.
How do I check an FSC Mauritius licence?
Search the company name on the FSC's register of licensees and match the licence number and licence type.
