NBG · Georgia
National Bank of Georgia
Georgia's central bank licenses and supervises brokerage companies, with ESMA-style leverage limits and negative balance protection. A newer forex jurisdiction with a short track record.
- Retail leverage
- Reported caps of 50:1 on major FX, 20:1 on minor FX, gold, and major indices, and 2:1 on crypto, with negative balance protection for retail clients.
- Compensation
- No investor compensation scheme.
- Capital
- Reported minimum of GEL 150,000 for a limited licence and GEL 500,000 for a full licence.
- Supervision & substance
- A Georgian company with a physical office, at least one resident director with financial-sector experience, full disclosure of beneficial owners, and an AML programme.
- Stocks, futures & crypto
- Brokerage licences can cover securities as well as FX. Crypto providers register separately with the National Bank.
- Trade-off
- Sensible retail rules, but low capital, no compensation scheme, and limited enforcement history.
What it means for you: Better retail rules than most offshore regimes, but we place it at Tier 3 until it builds a longer track record.
Common questions about NBG
Is NBG a good regulator for forex brokers?
In our view, NBG is a mid-tier offshore regulator (Tier 3 · Mid-tier offshore). Georgia's central bank licenses and supervises brokerage companies, with ESMA-style leverage limits and negative balance protection. A newer forex jurisdiction with a short track record. Better retail rules than most offshore regimes, but we place it at Tier 3 until it builds a longer track record.
What leverage can brokers regulated by NBG offer retail clients?
Reported caps of 50:1 on major FX, 20:1 on minor FX, gold, and major indices, and 2:1 on crypto, with negative balance protection for retail clients.
Is there a compensation scheme if a broker regulated by NBG fails?
No investor compensation scheme.
Does NBG regulate stocks, futures, or crypto?
Brokerage licences can cover securities as well as FX. Crypto providers register separately with the National Bank.
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.