FSC Mauritius · Mauritius
Financial Services Commission (Mauritius)
A popular mid-tier jurisdiction that requires genuine local substance and has been tightening its rules. The FSC is a signatory to IOSCO's multilateral agreement on cross-border regulatory cooperation.
- Retail leverage
- No regulatory leverage limits.
- Compensation
- No investor compensation scheme.
- Capital
- Reported minimum of MUR 1 million (about US$22,000) for the full-service dealer licence most FX brokers use. Low by international standards.
- Supervision & substance
- Two Mauritius-resident directors, a physical office, a resident compliance officer, and an independent MLRO. In 2026 the FSC barred investment dealers from acting as liquidity providers to other brokers and required them to notify it of every liquidity provider they use.
- Stocks, futures & crypto
- The investment dealer licence can cover securities as well as FX and CFDs. Crypto is licensed separately under the Virtual Asset and Initial Token Offering Services Act 2021.
- Trade-off
- Real substance, but low capital and no compensation. Mauritius was on the FATF grey list from February 2020 to October 2021.
What it means for you: A reasonable middle ground, well above registration-only jurisdictions, but less credible than a strong primary regulator.
Common questions about FSC Mauritius
Is FSC Mauritius a good regulator for forex brokers?
In our view, FSC Mauritius is a mid-tier offshore regulator (Tier 3 · Mid-tier offshore). A popular mid-tier jurisdiction that requires genuine local substance and has been tightening its rules. The FSC is a signatory to IOSCO's multilateral agreement on cross-border regulatory cooperation. A reasonable middle ground, well above registration-only jurisdictions, but less credible than a strong primary regulator.
What leverage can brokers regulated by FSC Mauritius offer retail clients?
No regulatory leverage limits.
Is there a compensation scheme if a broker regulated by FSC Mauritius fails?
No investor compensation scheme.
Does FSC Mauritius regulate stocks, futures, or crypto?
The investment dealer licence can cover securities as well as FX and CFDs. Crypto is licensed separately under the Virtual Asset and Initial Token Offering Services Act 2021.
A licence only protects you if your account is with the entity that holds it. Many broker groups hold several licences and onboard clients through an offshore entity. Check your client agreement, and verify the licence on the regulator's own register.
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Tiers and ratings are M1 Strategic's own assessment, based on public sources listed in our regulator guide. Rules change: always verify with the regulator directly. Not financial advice.