13 Best BVIFSC Regulated Forex Brokers in British Virgin Islands

BVIFSC Regulated Forex Brokers in the British Virgin Islands are regulated by the BVIFSC.Forex Brokers who wish to operate within in the country’s borders will fall under the Regulation of the British Virgin Islands Financial Services Commission. The entity is tasked with the responsibility to supervise, regulate, and inspect all financial services operating in the country.

Choose your quick section of our best BVIFSC Regulated Forex Brokers in the British Virgin Islands below.

Our 10 Best Handpicked BVIFSC Regulated Forex Brokers in the British Virgin Islands Revealed:

The British Virgin Islands officially known as the Virgin Islands, is a British Overseas Territory situated in the Caribbean. The British Virgin Islands Financial Services Commission is the supervisory authority for insurance, trustee banking, intellectual property, banking, company registration and management, and limited partnerships respectively. The aim of the Commission is to safeguard the public against unauthorised or illegal financial service providers operational within the British Virgin Islands.

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

Pros and Cons

Pros	Cons
Segregates client funds	Limited range of instruments
Established in 2010	Not FCA Regulated
Regulated by CySEC
Min. deposit from $1

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar. The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Trading Benefits

Trading Features	Accounts offered	Funding methods
Allows scalping	Micro account	Credit cards
Allows hedging	Mini account	Bank Transfer
Offers STP	Standard account	Neteller
Low min deposit	Zero spread account
Offers Negative Balance Protection	Islamic account

Customer support is available via phone and email.

XM Group

XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.

Pros and Cons

Pros	Cons
Low stock CFD and withdrawal fees	Limited product portfolio
Easy and fast account opening	Average forex and stock index CFD fees
Great educational tools	No investor protection for non-EU clients

XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs. Forex trading is available on over 55 pairs, including the major USD, GBP, EUR and JPY pairs. Traders must take note that XM does not offer binary options or futures.

Trading Benefits

Trading Features	Accounts Offered	Funding Methods
Negative Balance Protection	Micro	Wire Transfer
Low Spreads	Standard	Credit/Debit
Low Commission	XM Zero	Neteller
Hedging Allowed		UnionPay
Scalping Allowed		WebMoney
		Qiwi

Customer Service is available via live chat, Phone and email support.

FBS

FBS is a Forex and CFD broker which is authorised and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).

Pros and Cons

Pros	Cons
Negative Balance Protection	Limited Tradable assets
Excellent Regulation	Limited Trading Platforms
Available in Multiple Countries
Award Winning Service

FBS offers users the option to trade on Forex, Indices, Stocks, Metals and Energies across the MetaTrader 4, MetaTrader 5 and FBS Trader trading platforms.

Trading Benefits

Trading Features	Accounts Offered	Funding Methods
Copy Trading	Cent	Wire Transfer
Rapid Order Execution	Micro	Credit/Debit
	Standard	Neteller
	Zero Spread	Bitwallet
	ECN	Perfect Money

Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

InstaForex

InstaForex is a global online brokerage which is registered and regulated in several offshore jurisdictions around the world, including the EU jurisdiction of Cyprus.

Pros and Cons

Pros	Cons
No requirements for minimum deposit	High commissions on Forex market
Low commissions on CFDs on stocks	Low diversity of available markets
Support of Islamic accounts
Wide selection of trading platforms

InstaForex allows traders open an account with as little as $1 and Welcome bonuses may be on offer.

Trading Benefits

Trading Features	Accounts offered	Funding Methods
PAMM Accounts	Insta.Standard	Credit Cards
Market Analysis	Insta.Eurica	E-Wallets
	Cent.Standard	Bitcoin
	Cent.Eurica	Wire Transfer

Customer service is available 24 hours a day, with local phone numbers for nine countries, as well as through popular apps like Telegram, WhatsApp, Skype, and others channels.

HYCM

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

Pros and Cons

Pros	Cons
Segregates client funds	Doesn’t offer VPS
Established in 1977	Inactivity Fee
Regulated by Financial Conduct Authority	Limited range of instruments
Min. deposit from $1	Not ASIC Regulated

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice. A wide variety of instruments and currency pairs are available for trade:

Over 100 instruments
Over 40 currency pairs

Trading Benefits

Trading Features	Accounts offered	Funding methods
Allows scalping	Micro account	Credit cards
Allows hedging	Mini account	Bank Transfer
Low min deposit	Standard account	PayPal
	Islamic account	Payoneer

HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat and Phone – 24/5.

FXCM

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorised and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinjaTrader and ZuluTrade.

Pros and Cons

Pros	Cons
Segregates client funds	Limited range of instruments
Established in 1999
Regulated by Financial Conduct Authority
Min. deposit from $1

FXCM offers traders 4 main types of trading accounts to choose from, including Spread Betting, CFD Trading, Active Trader and Professional Clients. A Free Demo account is also made available.

Trading Benefits

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Mini account	Bank Transfer
Offers STP	Standard account	Payoneer
Low min deposit	Islamic account

Customer Support is available via Live Chat, Phone, Email and SMS.

OANDA

OANDA is a globally regulated Forex and CFD broker which also provides corporate Forex solutions and currency conversion. Users have the choice to trade on Forex, Indices, Metals, Commodities and Bond CFDs on the broker’s own proprietary trading platform for desktop, web and mobile, as well as on MetaTrader 4.

Pros and Cons

Pros	Cons
Accepts U.S. clients	No account protection for U.S. clients
Regulated by FCA and NFA	No guaranteed stop losses for U.S. or U.K. clients
Well-designed platforms	Traders cannot access cryptocurrencies or single-stock CFDs
Superior research offerings	A lot of ancillary fees

OANDA is the most Regulated Forex Broker and operate across six of the most credible authorities.

Trading Benefits

Trading Features	Account Offered	Funding Methods
Mobile Trading	Standard	Wire Transfer
Excellent Charting Tools	Premium	Credit/Debit
Educational Materials		PayPal

Customer support is available via a FAQ section, a OANDA Virtual Assistant and phone.

Forex Time (FXTM)

FXTM or ForexTime was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295. FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary. Three accounts are offered under the Standard category. Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

Pros and Cons

Pros	Cons
Segregates client funds	Limited range of instruments
Established in 2011	Not ASIC Regulated
Regulated by CySEC
Min. deposit from $10

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.

Trading Benefits

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Micro account	Bank Transfer
Offers STP	Mini account	Payoneer
Low min deposit	Standard account	Neteller
Offers Negative Balance Protection	Zero spread account
	ECN account
	Islamic account

Customer Service is available via phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.

FP Markets

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer. Over 100 instruments and over 60 currency pairs in total are on offer, on the popular MT4 forex trading platform. FP Markets also offers traders mobile apps for Android and iOS.

Pros and Cons

Pros	Cons
Low Forex Fees	High Stock CFD fees
Easy Account Opening	Limited Product Portfolio
Quick Deposit and Withdrawal	Outdated Platform

Trading Benefits

Trading Benefits	Accounts Offered	Funding Methods
Allows scalping	Mini	Bank Transfer
Allows hedging	Standard	Credit/Debit
Offers STP	ECN	Electronic Wallets
Low min deposit	STP
Offers Negative Balance Protection	Managed

All accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese. Customer Service is available via email, phone and live chat.

AvaTrade

AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC and FCA.

Pros and Cons

Pros	Cons
Used by 200,000+ traders	Doesn’t offer VPS
Established in 2006	Not FCA Regulated
Regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI
Min. deposit from $100

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform. AvaTrade also offer mobile apps for Android and iOS.

Trading Benefits

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Micro account	Bank Transfer
Low min deposit	Mini account	PayPal
	Standard account	Skrill
	Islamic account	Payoneer
		Neteller

Customer support is available by email, phone, or live chat.

Alpari

Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms. Alpari is regulated by the FSC.

Pros and Cons

Pros	Cons
Transparent	Limited Research Tools
Suitable to all trader types
No Deposit Fees

Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker. The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.

Trading Benefits

Trading Features	Accounts Offered	Funding Methods
250 tradable assets	Micro	Wire Transfer
PAMM Accounts	Standard	Credit/Debit
	ECN	E-Wallets
	Pro MT4	Cryptocurrency

Customer Service is available via live chat, email and phone service.

XTB

XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe. XTB is regulated by the UK Financial Conduct Authority (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016. XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:

xStation5
MT4

Pros and Cons

Pros	Cons
Lowest FX spreads	Does not accept U.S. clients
Regulated by FCA (U.K.)	Non-FX spread costs are high
Offers protection for client accounts	No guaranteed stop loss
Emphasis on customer service	No back-testing or automated trading capabilities

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.

Trading Benefits

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Micro account	Bank Transfer
Offers STP	Mini account	PayPal
Low min deposit	Standard account	Skrill
Guaranteed stop loss	Islamic account	Payoneer
Offers Negative Balance Protection		Neteller

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

Markets.com

Markets.com offers traders access to the world’s most traded CFDs using instruments such as shares, currencies, indices, bonds, ETFs and commodities. Markets.com is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Pros and Cons

Pros	Cons
Segregates client funds	Doesn’t offer VPS
Established in 2008	Inactivity Fee
Regulated by CySEC, Financial Services Board	Limited range of instruments
Min. deposit from $100	Not FCA Regulated

To open a live account, traders will need to make a minimum deposit of at least $100. Markets.com offers over 2,146 different instruments to trade, including over 56 currency pairs on MT4 and MT5 forex trading platforms.

Trading Benefits

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Mini account	Bank Transfer
Low min deposit	Standard account	PayPal
Guaranteed stop loss	Islamic account	Payoneer
Offers Negative Balance Protection

Customer support is available in over 25 languages, 24/5 via email, telephone and live chat.

How to Choose a Forex Broker

Choosing a forex broker will require a Forex Traders to first figure out what type of investor they are and what their goals in investing might be. Each Fore broker which offers forex investments will have both advantages and disadvantages. Some of the most important factors to consider when making a Broker choice includes regulation, the level of security provided and transaction fees. Security features may vary from broker to broker and some brokers will offer integrated security features like two-step authentication which keeps accounts safe from potential hackers. Not all brokers will be well-regulated and traders should be wary of unregulated brokerage firms. Forex Brokers will also vary in the Trading platforms on offer and have different required account minimums and transaction fees. Before signing up with a Forex Broker and jumping onto a unknown trading platform, investors should create a budget for their investment life.

Understanding Currency Pairs

Forex Pairs, as explained by Gordon Scott (Investopedia), refers to “the quotation of two different currencies, with the value of one currency being quoted against the other.” The first listed currency in Forex Pairs is called the base currency, and the second currency is called the quote currency.

Trading Forex Pairs will be conducted in the foreign exchange market, which is also referred to as the forex market. The Foreign Exchange Market is the largest and most liquid market in the world. This market will allow for the buying, selling, exchanging, and speculation of currencies and it enables the conversion of currencies for international trade and investment via banks or a bank for international settlements. The foreign exchange market is open 24 hours a day, five days per week (including most public holidays). All foreign exchange trading will involve the simultaneous purchasing of one currency and sale of another, but the currency pair itself can be thought of as a single unit or as an instrument which is bought or sold. When an investor buys a currency pair from a forex broker, they will be buying the base currency and sell the quote currency. On the other hand, when an investor sells the currency pair, they will sell the base currency and receive the quote currency. Currency pairs are quoted based on their bid (buy) and ask prices (sell).

When trading currencies, an investor will be selling one currency in order to buy another. On the contrary, when trading commodities or stocks, investors will use money to buy a unit of that commodity or a number of shares of a particular stock. Other types of Forex Pairs include Exotic Currency.

Major Currency Pairs

The currencies which are traded the most (volume) against the USD are referred to as the major currencies, which include:

EUR USD or the Euro vs. the U.S. dollar
USD JPYor dollar vs. the Japanese yen
GBP USDor the British pound vs. the dollar
USD CHFor the Swiss franc vs. the dollar
AUD USDor the Australian dollar vs. the U.S. dollar
USD CADor the Canadian dollar vs. the U.S. dollar

Basic Forex Terms – Need to Know

Forex Market

According to market research – The most common definition of the foreign exchange market is “ a global decentralized or over-the-counter market used for the trading of currencies. The Forex market will determine foreign exchange rates for every currency. This will include all aspects of buying, selling and exchanging currencies at current or determined prices. The Forex Market may also be referred to as the Currency Market.

Forex Trading

Foreign Exchange trading is the process of exchanging of one currency for another. Foreign exchange transactions take place on the foreign exchange market, also known as the forex market.

Exchange Rate

An exchange rate refers to the value of a country’s currency vs. the currency of another country or economic zone.

Retail Investor Accounts

A retail or individual investor, is a non-professional investor who buys and sells securities or funds through the use of a Retail Investor Account.

Market Price

The market price refers to the current price at which an asset or service can be bought or sold.

Trading Volume

Volume, in Forex trading, represents how much of a financial asset has exchanged hands over a particular period of time.

Trading Account

A foreign exchange account, or Forex Trading account, is an account which is used to hold and trade foreign currencies.

EUR USD

The Currency Pair EUR USD is the shortened term which refers to the euro against U.S dollar pair, or cross for the currencies of the European Union (EU) and the United States (USD).

Stock Markets / Stock Market

The stock market is a marketplace which allows investors to buy and sell the shares of publicly traded companies.

Forex Pair

A Forex Pair, better known as a currency pair, is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market.

Retail Traders

Retail foreign exchange trading is a small part of the much larger foreign exchange market where individuals (Retail Traders) speculate on the exchange rate between different currencies.

Currency Trader

A currency trader, also referred to as a foreign exchange trader or forex trader, is an individual who trades currencies on the foreign exchange market.

Pip Value

Pip – “percentage in point” or “price interest point“, is the smallest price move that an exchange rate can make based on forex market convention. Most currency pairs will be priced out to four decimal places and the pip change is the final or the fourth decimal point.

Margin Requirements

The term Margin refers to the amount of money which an investor will need to put forward in order to open a trade. When trading forex on margin, investors will only be required to pay a percentage of the full value of the position to open a trade.

Forex Trading Tools

Forex Trading Tools are tools which will form a part of the available trading platform.

Conclusion

If an investor has full confidence in their forex broker, they will be able to devote more time and focus their attention on analysis and developing profitable forex strategies. Doing some due diligence and doing some research before committing to a broker will go a long way when it comes to an investors career and success in the competitive forex market. Forex traders will be able to place their bets on the world’s currencies through the use of forex (foreign exchange) brokerage accounts, by buying or selling forex pairs which react to economic developments all over the globe. The foreign exchange markets are operational 24/6, and opens on Sunday afternoon in the U.S and closes after stock traders complete their business on a Friday afternoon. The volume of currency trading on the Forex exchange market is massive and transacts an estimated $4 trillion per day. Forex traders take on either long or short sale positions on forex pairs, which will calculate the exchange rate between two forms of legal tender, for example the euro (EUR) and U.S dollar (USD). A Forex Broker will hold a forex traders money in an account which changes value nightly in reaction to daily profits and losses.

FAQs

What are the responsibilities of the BVIFSC?

Responsibilities include Protecting Customers, Overseeing legislation and detecting financial crime.

Do Brokers situated in the British Virgin Islands fall under any set regulations?

Yes. Brokers active in the country will fall under and must adhere to various guidelines and regulations imposed.

How can I check if a broker is regulated by BVIFSC?

Investors can simply visit the Brokers Website itself in order to confirm Broker Regulation.

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Table of Contents

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

May 5, 2024

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