Published January 5th 2026
By Shadi Swais
Mauritius has steadily positioned itself as one of the most credible and business-friendly financial jurisdictions for international brokerage firms. Regulated by the Financial Services Commission (FSC), the country offers a balanced framework that combines regulatory oversight, operational flexibility, and international recognition.
Among the most sought-after authorisations under the FSC framework is the Investment Dealer (Full Service) License, commonly used by Forex and CFD brokers serving international markets.
This article provides a practical overview of the FSC Mauritius regime, explains the scope of the Investment Dealer License, and highlights key strategic considerations for brokerage firms evaluating Mauritius as a licensing destination.
Mauritius is widely regarded as a stable and well-regulated international financial hub. Its financial services ecosystem benefits from:
A legal system influenced by English common law
Political and economic stability
Strong regulatory oversight aligned with international standards
Extensive double-taxation treaty networks
Strategic positioning between Africa, Asia, and Europe
The FSC operates as an independent regulator overseeing non-bank financial services, with a mandate focused on investor protection, market integrity, and compliance with global AML/CFT requirements.
The Investment Dealer (Full Service) license is the primary brokerage license issued by the FSC that enables firms to operate as Forex and CFD brokers.
This license authorises the holder to:
Deal in securities and derivatives as principal or agent
Offer margin trading, CFDs, and foreign exchange instruments
Execute trades on behalf of clients
Provide brokerage services to international markets
In industry practice, this authorisation is often referred to as the Mauritius Forex Broker License, although its formal regulatory classification remains Investment Dealer (Full Service).
An FSC-licensed Investment Dealer may conduct a range of brokerage activities, including:
Forex spot trading
Contracts for Difference (CFDs)
OTC derivatives
Margin trading services
Client order execution and trade facilitation
Depending on the approved business model, license holders may operate as agency (STP) brokers, hybrid brokers, or principal dealers, subject to appropriate disclosures, risk controls, and regulatory oversight.
While Mauritius is often perceived as commercially flexible, it is not a light-touch jurisdiction. The FSC places strong emphasis on substance, governance, and compliance.
Applicants are generally expected to demonstrate:
A Mauritius-incorporated operating entity
Physical office presence and operational substance
Approved directors and senior management
A qualified Compliance Officer and risk management framework
Comprehensive AML/KYC policies and procedures
Ongoing regulatory reporting and audited financial statements
The regulator’s focus is not only on initial licensing, but also on the firm’s ability to operate sustainably over the long term.
The FSC Mauritius Investment Dealer License continues to attract brokerage firms for several strategic reasons:
International regulatory credibility
Recognition by banks, liquidity providers, and payment service providers
Reasonable capital and operational requirements
Flexibility in serving non-Mauritius clients
Compatibility with multi-jurisdictional and dual-license brokerage structures
For many firms, Mauritius serves as a core operating license, often complemented by regional authorisations in jurisdictions such as the UAE, Europe, or Asia.
For a detailed breakdown of the Mauritius Investment Dealer (Full Service) License, including regulatory scope and structuring considerations, please refer to our brokerage jurisdiction section:
https://allianceadvisers.com/brokerage-jurisdiction#id_section_12
Across the global brokerage landscape, regulators are steadily tightening their requirements, particularly with respect to minimum capital thresholds, governance standards, and operational substance. Jurisdictions such as Labuan and Seychelles, among others, have already introduced increases in capital requirements and enhanced prudential expectations for licensed brokers.
While the FSC Mauritius has not formally announced changes to its current capital framework, regulatory convergence is a well-established global trend. As regulators continue to align with international best practices, it is reasonable to expect that Mauritius may, in due course, review and enhance certain regulatory thresholds to preserve its standing as a credible financial centre.
For this reason, brokerage firms considering an FSC Mauritius Investment Dealer (Full Service) License are generally advised to initiate their licensing plans sooner rather than later. Applying under the current regulatory framework may offer:
Lower entry barriers compared to potential future requirements
Greater flexibility in initial structuring
Smoother engagement with banks, auditors, and service providers
Early action allows firms to establish a regulatory presence ahead of any future tightening, making subsequent scaling or restructuring significantly more straightforward.
At Alliance Advisers, we support brokerage firms throughout the entire FSC Mauritius Investment Dealer licensing process, from early feasibility assessment and regulatory structuring to documentation preparation, coordination with local service providers, and regulator liaison.
Our approach focuses on building regulator-ready, sustainable brokerage operations, ensuring that clients are positioned not only to obtain a license, but to operate compliantly and scale confidently over time.
The FSC Mauritius Investment Dealer (Full Service) License remains one of the most practical and respected regulatory options for Forex and CFD brokers targeting international markets. When structured correctly and supported by strong governance and compliance frameworks, it provides a solid foundation for long-term brokerage operations.
As regulatory standards continue to evolve globally, firms that plan early and structure thoughtfully are best positioned to benefit from Mauritius’s established regulatory credibility.
If you are considering an FSC Mauritius Forex Broker License or planning a multi-jurisdictional brokerage structure, our team is ready to assist you from strategy through to approval.
🌐 https://allianceadvisers.com
📩 https://allianceadvisers.com/contact-us
Comments 0
No Comments