Forex Brokers in Belize
If you are looking to trade forex online but do not want the limitations and restrictions that some regulated brokers have, you might be considering an offshore forex broker such as those who ar regulated in Belize. Forex brokers in Belize are regulated by the International Financial Services Commission (IFSC), an independent self-regulatory agency under the Ministry of Belize Securities and International Financial Services Commission Act. The IFSC is to issue Belize Broker licenses and to regulate the forex brokers that fall under their supervision. Whilst this might not give you the same protection as some of the top tier regulators such as the FCA, ASIC or CySEC, they may offer high leverage and crypto trading which can be an incentive for traders to choose them over others.
Best forex brokers Belize
To find the best forex brokers in Belize, we created a list of all the Belize forex brokers, then ranked them based on our overall rating. You can see the list of our top forex brokers for Belize below.
IFSC forex brokers in Belize
It is legal to trade forex in Belize. You can choose to engage the services of Belize brokers or other recognised brokers if you wish to trade on the forex market or stocks, commodities, indices and other financial instruments. Belize has traditionally been one of the most popular offshore jurisdictions for companies seeking to apply for a forex License.
The International Financial Services Commission or IFSC is the agency authorized by the government of Belize to regulate financial activities in the country. The IFSC is responsible for establishing and enforcing financial regulations and overseeing all market participants in Belize.
In Belize, it is mandatory for all companies that provide services related to foreign exchange trading to procure a Belize forex License. Companies that provide brokerage, consultancy or advisory services with regards to forex trading must also obtain a license from the IFSC.
Many online forex brokers have obtained international licenses from the IFSC after registering in the offshore jurisdiction of Belize. IFSC is under the control of the Belize Ministry of Securities and the International Financial Services Commission Act enacted in 1990.
- The IFSC promotes, protects and enhances the status of Belize as a centre for international financial services
- It regulates the arrangements for international financial services
- It is responsible for the supervision and control of Licensed Investment Services Companies, investment consultants, and mutual fund management companies
- It issues licences to all participants in the financial services market including brokers, brokerage firms, and other financial services providers
- Any financial providers found to be breaking the regulations are at risk of facing administrative sanctions or disciplinary penalties imposed by the IFSC
Belize is a classic offshore jurisdiction with much more lenient regulations on the forex brokerage industry than what is common in Western countries. Due to the business-friendly taxes and more lenient regulations in Belize, the country has for a long time been among the most popular places in the world for new forex brokers to register in.
How to verify IFSC regulated brokers in Belize
It is important to check the Belize brokers details, as an unregulated forex broker can pretend to be an authorised broker in Belize. If a broker also holds regulation in a major European economy such as also being regulated by the FCA, it is a good sign. Some forex brokers are regulated in multiple jurisdictions to provide a diverse range of services to clients with different forex strategies.
You can get the brokers regulation number from the disclosure text at the bottom of their homepage. You can then look up the registration number on the IFSC website to confirm if the forex broker is regulated in Belize to provide online forex trading products and services.
Is forex trading legal in Belize?
Yes, Belize has a population of about 390’353 potential forex traders, and the country is legal for forex trading. In Belize, the International Financial Services Commission oversees forex brokers (IFSC). According to the Ministry of Belize Securities and International Financial Services Commission Act, the IFSC is an independent self-regulatory organization. Belize’s economy is modest and dominated by private businesses, and tourism is significant to the national economy.
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