To find a list of the best as well as trustworthy forex brokers in Seychelles can be quite a tough process. Seychelles is an offshore jurisdiction and as such offers flexibility in their business that results in higher trading leverage. Registration is also not so strict.
Forex brokers and Financial services companies trading in Seychelles is overseen by the Seychelles Financial Services Authority (SFSA)
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IC Markets
Overview
Established in 2007, IC Markets is a well-regulated broker along with being a true ECN broker that offers traders with more than 230 tradable financial instruments. Traders can trade these through powerful and advanced trading platforms, making use of IC Markets’ competitive trading conditions.
IC Markets also allows a variety of trading strategies such as hedging and scalping, offers social trading opportunities, free deposits, and withdrawals, and features transparent fee schedules. Traders also have access to institutional grade liquidity, and a range of trading tools which can be used.
Pros and Cons
| PROS | CONS |
| ECN-pricing model | No fixed spread accounts |
| Hedging and scalping allowed, and social trading supported | US Clients not allowed |
| Low trading and non-trading fees | |
| Tight and competitive spreads | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $200 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
HotForex
Overview
Based in Cyprus and regulated by multiple regulatory entities, HotForex is a popular choice for traders from around the world due to its competitive trading conditions, and comprehensive, all-encompassing trading solutions.
Traders have a choice between dynamic account types, powerful trading platforms, and a variety of financial instruments which can be traded.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions offered | US Clients not allowed |
| Strictly and well-regulated | |
| Strong international presence | |
| Vast variety of account types offered |
Features
| Feature | Information |
| Regulation | CySEC, FCA, DFSA, FSCA |
| Minimum deposit from | $5 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Tickmill
Overview
Established in 2015, Tickmill is another popular STP and ECN broker that offers the trade in more than 80 financial instruments. Tickmill caters for both retail and professional traders, offering them with flexible trading accounts, tight spreads, competitive commissions, and a vast selection of trading tools.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Cryptocurrency trading not supported |
| Powerful trading platforms supported | Fixed spreads not offered |
| Strictly regulated by multiple regulatory entities | US Clients not allowed |
| Variety of financial instruments | |
| Variety of trading tools offered |
Features
| Feature | Information |
| Regulation | FCA, CySEC, FSA |
| Minimum deposit from | $100 |
| Average spread from | 0.0 pips |
| Commissions from | From $1 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Vipro Markets
Overview
Vipro Markets was founded in 2015 and is a STP and ECN model forex trader and forms part of the Tickmill group of companies. It offers tight spreads and low overall fees trading through the globally known MT4 and MT5 platforms.
The live account types on offer at Vipro is identical to those of Tickmill and it also offers a demo and Islamic account. VIPRO’s website is available in 7 different languages and includes a vast selection of resources with lots of free-to-use tools, analyses, videos, and webinars.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Cryptocurrency trading not supported |
| MetaTrader 4 and MetaTrader 5 | No fixed spreads on offer |
| Strictly regulated by multiple regulatory entities | US Clients not allowed |
| Variety of trading tools offered | |
| Various financial instruments to trade in |
Features
| Feature | Information |
| Regulation | FCA, CySEC, FSCA, LFSA, SFSA |
| Minimum deposit from | $100 |
| Average spread from | 0.0 pips |
| Commissions from | From $1 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support | 24/5 |
IQ Option
Overview
IQ Option is an award-winning broker that offers traders from around the world with a vast amount of tradable financial instruments spread across several asset classes. The trading platform offered by IQ Option is intuitive and features a variety of tools and a dynamic trading platform for various traders despite their skills, knowledge, experience, or trading style.
Pros and Cons
| PROS | CONS |
| Advanced trading tools | Fixed spread accounts not offered |
| Segregated client funds and member of ICF | Restricted leverage for non-professional traders |
| Strictly regulated | US Clients not allowed |
| User-friendly trading platform | |
| Vast variety of financial instruments |
Features
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $10 |
| Average spread from | 5 pips on GBP/USD |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:30 |
| Bonuses | No |
| Customer Support | 24/5 |
BDSwiss
Overview
BDSwiss is a STP and CFD broker founded in Switzerland with its headquarters in Cyprus. It holds separate entities registered in Mauritius and Seychelles for non-European traders.
BDSwiss offers traders three live account types, as well as a demo account. Clients also have the option to open an Islamic account. The BDSwiss web platform is fully synchronized with the MetaTrader 4 platform, making it possible to switch between the two platforms at any time.
Pros and Cons
| PROS | CONS |
| Strictly regulated through three entities | US and Canada clients not allowed |
| Variety of financial instruments on offer | No tight spreads |
| MetaTrader 4 and MetaTrader 5 on offer | |
| Proprietary web platform | |
| Reliable trading conditions |
Features
| Feature | Information |
| Regulation | CySEC, FSC, NFA |
| Minimum deposit from | $100 |
| Average spread from | Starting form 0.0 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support | 24/5 |
Swiss Markets
Overview
Swiss Markets is a STP broker and the trading name for BDS Markets. It operates out of two off-shore jurisdictions and regulated through the respective regulatory bodies. Trading is offered in over 50 currency pairs and stocks of about 130 American and European companies.
It provides the popular MetaTrader 4 as only trading platform. Swiss Markets offers two live accounts as well as an Islamic account and a demo account.
Pros and Cons
| PROS | CONS |
| Accept all mayor payment methods | No tight spreads |
| MetaTrader 4 | US clients not allowed |
| Reliable trading conditions | |
| Strictly regulated | |
| Trading in Forex, Metals, Energies, Indices, Equities | |
| Variable spreads |
Features
| Feature | Information |
| Regulation | SFCA, FSC |
| Minimum deposit from | $200 |
| Average spread from | Starts from 0.0 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support | 24/5 |
LeoPrime
Overview
LeoPrime is a standard STP and ECN model offshore forex broker offering traders tight spreads and superior trading technology in over 65 trading instruments. Trading is done on MT4 and MT5 on various devices.
LeoPrime offer customers a choice between four live account types, and new clients have the option to open a demo account. Various payment methods can be used in the USD base currency.
Pros and Cons
| PROS | CONS |
| Clients from USA, Australia, Japan, and more no accepted | |
| MetaTrader 4 and MetaTrader 5 | No tight spreads |
| Over 65 tradable instruments | Off-shore trading company |
| Transparent trading conditions | Only USD currency accounts |
Features
| Feature | Information |
| Regulation | FSA |
| Minimum deposit from | $10 |
| Average spread from | Starts from 0.1 pips |
| Commissions from | $6 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Alvexo
Overview
Alvexo is a STP and ECN model forex broker located in Cyprus and the Seychelles. It is a brand name operated by HSN Captial Group Ltd and regulated through strict regulatory rules. Alvexo offers trading in over 450 real-time assets and a wide selection of stocks in more than 300 companies listed in the US, UK, and EU.
Once a trader has signed up, they can choose between four different live account types as well as a demo or Islamic account. Customer support is offered in many countries via local telephone numbers.
Pros and Cons
| PROS | CONS |
| Good educational tools | Clients from USA not accepted |
| MetaTrader 4 | Commission on ECN accounts are high |
| Stickily regulated | Limited payment methods |
| Transparent trading conditions | Wide spreads on some accounts |
Features
| Feature | Information |
| Regulation | SFSA, CySEC |
| Minimum deposit from | €500 |
| Average spread from | Starts from 3.3 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:300 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Oinvest
Overview
Oinvest is a STP model forex broker based in Seychelles and operated by Aronex Corporation Ltd. It offers trading in over 350 instruments that include stocks from more than 200 companies listed in the US, Europe, and Australia.
Three live account types are on offer depending on a trader’s trading volume and the size of their initial deposit. Muslim clients also have the option to open an Islamic account.
Pros and Cons
| PROS | CONS |
| Commission free trading offered | Clients from USA not accepted |
| MetaTrader 4 | No demo account |
| Stickily regulated | No fixed spreads |
| Transparent trading conditions | |
| Variety of educational tools on offer |
Features
| Feature | Information |
| Regulation | SFSA |
| Minimum deposit from | $250 |
| Average spread from | Starts from 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:400 |
| Bonuses | Yes |
| Customer Support | Monday to Friday from 08:00 to 20:00 |
Swissquote
Overview
Established in 1996, Swissquote is a well-regulated and reputable STP broker with offices in the UK, Switzerland, Malta, UAE, and Hong Kong and respective, corresponding regulation and authorisation through FINMA, FCA, MFSA, DFSA, and SFC.
With Swissquote, traders are offered with a wide variety of tradable financial instruments, competitive and tight spreads, and zero commissions charged on trades. In addition, traders can also access a variety of powerful trading platforms, flexible account types, a variety of advanced trading tools, and a range of educational material.
Pros and Cons
| PROS | CONS |
| Competitive spreads | High minimum deposit |
| Multi-regulated | No fixed spread accounts |
| Trading tools and research resources and tools offered | US Clients not allowed |
| Variety of tradable financial instruments | |
| Zero-commission trading offered |
Features
| Feature | Information |
| Regulation | FINMA, FCA, MFSA, DFSA, SFC |
| Minimum deposit from | $1,000 |
| Average spread from | 1.1 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may be applied to some payment methods |
| Maximum Leverage | 1:100 |
| Bonuses | Yes |
| Customer Support | 24/5 |
XTB
Overview
XTB has been in operation since 2004 and is a forex and CFD broker which is also listed on a stock exchange. XTB takes a lot of pride in offering traders with a personal approach, enabling them to establish a long-term relationship with traders, helping them to achieve their trading goals and objectives.
Each trader has access to a personal account manager who provides individual support in addition to gaining access to some of the best trading conditions in the industry.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions offered | EU clients restricted to leverage of 1:30 |
| Islamic Account provided as a standalone account | Fixed spreads not offered |
| Negative balance protection offered | US clients not allowed |
| Strict regulation | |
| Variety of financial instruments |
Features
| Feature | Information |
| Regulation | ACPR, BaFin, CNMV, FCA, IFSC, KNF |
| Minimum deposit from | $250 |
| Average spread from | 0.1 pips |
| Commissions from | $3.50 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
OANDA
Overview
Oanda has been in operation since 1989 and is based in the United States with regulation through CFTC, NFA, IIROC, FCA, MAS, ASIC, and FFAJ in offering traders from around the world the trade in more than 10,000 financial instruments.
Oanda also offers MetaTrader 4 and its own in-house proprietary trading platform which can be used to execute trades. In addition, traders are also offered with commission-free trading options, the advantage of not having to pay a minimum deposit when registering an account, and advanced trading tools.
Pros and Cons
| PROS | CONS |
| Advanced trading tools | No fixed spread accounts |
| Flexible trading platforms | Social trading not supported |
| Member of FSCS and CIPF | Spreads not the tightest in the industry |
| Multi-regulated | |
| No minimum deposit |
Features
| Feature | Information |
| Regulation | CFTC, NFA, IIROC, FCA, MAS, ASIC, FFAJ |
| Minimum deposit from | $0 |
| Average spread from | 1.2 pips EUR/USD |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:100 |
| Bonuses | None |
| Customer Support | 24/5 |
eToro
Overview
eToro is a popular and well-regulated Market Maker broker based in Australia, Cyprus, and the UK, with corresponding regulation and authorisation through ASIC, FCA, and CySEC. eToro, apart from being one of the most popular brokers is also the leading online social trading platforms, providing traders with flexible ways for investing in financial markets and copying trades.
eToro’s comprehensive trading solutions and services, adds a competitive edge to their trading with zero-commission trading on a substantial selection of stocks, no limits on trading volume, no additional mark-ups, and no ticketing or management fees charged.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Fixed spread accounts not provided |
| Large online trading community | MetaTrader 4 and 5 not offered |
| Leading social trading platform | No US Clients |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, FCA, CySEC |
| Minimum deposit from | $200 |
| Average spread from | 3 pips on EUR/USD |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/6 |
Pepperstone
Overview
Pepperstone, founded in 2010 and based in Australia and the UK, is one of the largest online trading brokers offering trading in a variety of financial instruments. The broker offers traders with innovative technology, tight and competitive spreads, low-latency, and high-speed trade execution along with customer service which is award-winning, dedicated, and prompt.
In addition, traders have access to powerful and innovative trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader.
Pros and Cons
| PROS | CONS |
| Award-winning customer support | No fixed spread accounts |
| Competitive trading conditions | No US clients |
| Hedging and scalping allowed | |
| Social trading offered | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, FCA, DFSA |
| Minimum deposit from | $200 |
| Average spread from | 1 pip |
| Commissions from | AU$3.5 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | Yes |
| Customer Support | 24/5 |
FP Markets
Overview
FP Markets is an ECN broker based in Australia and in operation since 2005. It offers traders with direct market access (DMA) pricing, tight spreads from 0.0 pips, and flexible leverage up to a maximum of 1:500.
Traders have access to several financial instruments which can be traded through either MetaTrader 4, MetaTrader 5, or IRESS. The commissions that traders can expect start from $3 and FP Markets offers fast execution speed, no inactivity fees, MQL5 signals, a Trader’s Hub, and more.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | No fixed spread accounts |
| ECN-Pricing model | No US clients |
| Variety of financial instruments | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, CySEC, SVGFSA |
| Minimum deposit from | AU$100 |
| Average spread from | 0.0 pips |
| Commissions from | US$3 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
EasyMarkets
Overview
EasyMarkets was originally established as Easy Forex in 2001 before it was renamed EasyMarkets in 2016. It is a reputable Market Maker broker which is based in Cyprus and has regulation and authorisation with ASIC, CySEC, and FSA.
Traders can expect more than 200 financial instruments which can be traded through powerful trading platforms. easyMarkets is an award-winning and well-established broker that caters for both beginner traders as well as professionals.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Forex spreads start from 1 pip |
| Fixed spread accounts offered | Variable spread accounts not offered |
| Free guaranteed stops | US Clients not allowed |
| Negative balance protection | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, CySEC |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
AvaTrade
Overview
AvaTrade is one of the best options where trading brokers are concerned. AvaTrade not only has multi-regulation with reputable entities in several jurisdictions, but the broker has accumulated an impressive amount of industry awards throughout its time in operation.
Traders can choose from more than 250 financial instruments that can be traded through a choice in powerful trading platforms. In addition, AvaTrade also offers transparent fee schedules, commission-free trading options, and more.
Pros and Cons
| PROS | CONS |
| Award-winning broker | Variable spreads not offered |
| Competitive trading conditions | Only one account type for either retail or professionals |
| Fast trade execution | US Clients not allowed |
| Social trading offered | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, BVI, CBI, FFAJ, FSA, FSCA |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Alpari
Overview
Alpari International is the business name of Exinity Limited based in the Republic of Mauritius. It was originally established in Russia in 1998. It is a popular and well-regulated broker that offers traders from all over the world with comprehensive trading solutions.
Alpari has more than 2 million registered traders from more than 150 countries. With Alpari, traders can expect competitive trading conditions, the use of powerful trading platforms, and prompt multilingual customer support.
Pros and Cons
| PROS | CONS |
| MetaTrader 4 and 5 offered | Fixed spread accounts not offered |
| PAMM Accounts offered | Limited financial instruments offered |
| Superior multilingual customer support | Restriction on traders from some countries |
| Well-regulated |
Features
| Feature | Information |
| Regulation | FSC, FSA |
| Minimum deposit from | $5 |
| Average spread from | 0.4 pips |
| Commissions from | $1.5 per lot per side |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
ForexTime (FXTM)
Overview
FXTM is a well-regulated ECN and STP broker which has offices in the UK, Cyprus, South Africa, and Mauritius along with corresponding regulation and authorisation through CySEC, FCA, FSC, and FSCA in offering traders around the world with comprehensive trading solutions.
Since its inception in 2011, the broker has won several industry awards and offers traders with a choice between more than 250 financial instruments to trade. There is also a wide variety of educational material, trading tools, and a variety of account types to choose from.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Restricted leverage for EU-clients |
| Low minimum deposit | US Clients not allowed |
| Strictly regulated | |
| Variety of account types offered | |
| Variety of financial instruments offered |
Features
| Feature | Information |
| Regulation | CySEC, FCA, FSC, FSCA |
| Minimum deposit from | $10 |
| Average spread from | 0.0 pips |
| Commissions from | $2 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
FXCM
Overview
FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, spread betting and related services. It has become part of the Leucadia Company in 2015.
The broker is based in the UK with regulation through FCA, ASIC, and ASIC, FXCM offers traders with the trade in multiple tradable financial instruments. Traders can expect superior trading conditions including tight spreads, low commission charges, and access to adequate leverage ratios.
Pros and Cons
| PROS | CONS |
| Access to AutoChartist and PsyQuation premium | EU clients restricted to 1:30 leverage |
| Client funds kept in segregated accounts | Fixed spread accounts not offered |
| Commission-free trading offered | US Clients not allowed |
| MetaTrader 4 NextGen offered | |
| Well-regulated by reputable regulatory entities |
Features
| Feature | Information |
| Regulation | FCA, ASIC, FSCA |
| Minimum deposit from | $50 |
| Average spread from | 0.2 pips on EUR/USD |
| Commissions from | $0.10 on CFDs |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/5 |
FBS
Overview
FBS is an online broker that offers financial market trading in forex and CFDs. It is operated by Tradestone Ltd. The broker headquarters in Belize and in operation since 2009. It is a well-regulated broker offering the trade of forex and CFD instruments through the popular MetaTrader 4 and MetaTrader 5 trading platforms.
Traders are also offered with a variety of trading tools, market analysis, and a choice in educational materials. FBS caters for both retail and professional traders and offers a variety of account types and social trading opportunities.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions | High spreads on some accounts |
| Multiple account types offered | Limited tradable assets |
| Social trading supported | Limited trading platform and tools offered |
| Ultra-low minimum deposit requirement | Several countries restricted including US, UK, Japan, Israel, and others |
| Well-regulated |
Features
| Feature | Information |
| Regulation | IFSC, CySEC |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | $6 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:3000 |
| Bonuses | Yes |
| Customer Support | 24/7 |
Interactive Brokers
Overview
Interactive Brokers is an online broker specialising in forex and CFD trading. It has many account types to choose from which fall into two big groups, namely accounts for individual traders and investors and accounts for institutions. Funding your account depends on the country you live in.
Pros and Cons
| PROS | CONS |
| Strictly regulated | Inactivity fees on the IBKR Pro |
| Strong research tools | No MetaTrader4 |
| Well-regulated | No transparent fee schedule |
| Wide range of financial instruments offered | US clients not accepted |
| Website not user friendly |
Features
| Feature | Information |
| Regulation | SEC, FINRA, NYSE, FCA, ASIC |
| Minimum deposit from | $0 |
| Average spread from | 0.2 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Other fees may apply |
| Maximum Leverage | 1:2000 |
| Bonuses | No |
| Customer Support | 24/5 |
Trading 212
Overview
Trading 212 was founded in 1977 and headquarters in London, UK. It offers trading a various instrument and an outstanding, highly responsive customer service team available 24 hours a day across a variety of platforms and in 16 different languages.
Pros and Cons
| PROS | CONS |
| Demo account | Hardly any research tools offered |
| Ideal for beginners | No Islamic account |
| Strictly regulated | No MetaTrader 4 |
| Various payment methods offered | No transparent fee schedule |
| Wide range of financial instruments offered | US clients not accepted |
Features
| Feature | Information |
| Regulation | FCA |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Other fees may apply |
| Maximum Leverage | 1:30 |
| Bonuses | No |
| Customer Support | 24/5 |
Olymp Trade
Overview
Olymp Trade has been in operation since 2014 and is a broker that offers traders from around the world with a variety of educational resources, trading signals, and market analysis. Olymp Trade also offers traders with market news, a low minimum deposit requirement, and multilingual customer support which is available 24/7.
Pros and Cons
| PROS | CONS |
| Low minimum deposit requirement | No MetaTrader |
| Market news as well as analysis | No regulation |
| Multilingual customer support available 24/7 | Social trading not offered |
| Proprietary trading platform | Trade automation not supported by trading platform |
| Training resources offered | US and UK clients not accepted |
Features
| Feature | Information |
| Regulation | None |
| Minimum deposit from | $10 |
| Average spread from | None charged |
| Commissions from | 0.00400% |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support | 24/7 |
IG
Overview
IG Group was founded in 1974 and is regulated by FCA in the U.K. and ASIC in Australia. The country of a trader’s residency will determine which account type they can open. In most countries, they will only be able to trade forex, CFDs and options. Traders can choose between two trading platforms, IG’s proprietary trading platform or MetaTrader 4.
Pros and Cons
| PROS | CONS |
| Strictly regulated | Account opening is slow |
| Good educational tools offered | Limited product portfolio |
| MetaTrader4 platform | Forex and CDF fees are high |
| Transparent fee schedule | US clients not accepted |
Features
| Feature | Information |
| Regulation | FCA, ASIC |
| Minimum deposit from | $0 |
| Average spread from | 0.2 pips |
| Commissions from | 0% |
| Deposit/Withdrawal Fees | Financial institution fees may apply |
| Maximum Leverage | 1:200 |
| Bonuses | No |
| Customer Support | 24/6 |
HYCM
Overview
HYCM is part of the Henyep Group and an online broker that was founded in 1977. It offers Forex and CFDs trading on the MT4 and MT5 platforms. HYCM offers a variety of trading instrument and a choice between three live account types as well as an Islamic and a demo account.
Pros and Cons
| PROS | CONS |
| Fixed spreads offered | Clients from Afghanistan, Belgium, Hong Kong, Japan, the US not accepted |
| MetaTrader4 platform | No research tools |
| Overall pricing is expensive | |
| Strictly regulated |
Features
| Feature | Information |
| Regulation | SFC, FCA |
| Minimum deposit from | $100 |
| Average spread from | 1.8 pips |
| Commissions from | 0% |
| Deposit/Withdrawal Fees | Financial institution fees may apply |
| Maximum Leverage | 1:200 |
| Bonuses | No |
| Customer Support | 24/5 |
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Frequently Asked Questions
Is forex trading legal in Seychelles?
Yes. Forex trading is legal in Seychelles.
Who is the regulatory entity for Seychelles?
Forex brokers trading in Seychelles is overseen by the Seychelles Financial Services Authority (SFSA).
Can beginners trade in forex?
Yes. Anyone can start trading in forex. However, traders must first ensure that they have a clear understanding of forex, the market, and the risks involved before they start trading.
Do these forex brokers offer demo accounts?
Yes. Most of the brokers offer demo accounts that can be used to practice trading, test out strategies, or test out the broker’s offer.
Are these forex brokers regulated and safe to use?
Most of these brokers are regulated, however, there are some that are not.
Top 4 Brokers
