#1
Magic Compass
RegulatedCyprusCySEC
Regulation
License
Spread
79.0Score
Ten brokers make this list, the highest-scoring names WIKILIX has on record holding a licence from the Seychelles Financial Services Authority (FSA). They come from 59 FSA-registered brokers that clear a WIKILIX score of 50, and they are ordered by that score alone. The FSA here is the Seychelles regulator, not the former UK authority of the same initials and not Japan's Financial Services Agency, a distinction worth holding onto before you trust any "FSA regulated" list.
| # | Broker | WIKILIX score | Also licensed by | Opened | Max leverage |
|---|---|---|---|---|---|
| 1 | Magic Compass (MC900) | 77.5 | SFC, CySEC | Not recorded | Not recorded |
| 2 | Interactive Brokers | 72.5 | FCA, ASIC, SFC | 1996 | 1:400 |
| 3 | IG | 69.5 | FCA, ASIC, BaFin | 1974 | 1:400 |
| 4 | FOREX.com | 68.3 | FCA, ASIC, NFA | 2006 | 1:200 |
| 5 | eToro | 67.8 | FCA, ASIC, CySEC | 2012 | 1:30 |
| 6 | Skilling | 65.7 | FCA, CySEC | 2016 | 1:200 |
| 7 | OANDA | 64.9 | FCA, ASIC, NFA | 2011 | 1:50 |
| 8 | EC Markets | 64.5 | FCA, ASIC, FMA | 2014 | 1:500 |
| 9 | Exness | 63.0 | FCA, CySEC, FSCA | 2014 | 1:100 |
| 10 | SuperForex | 61.8 | FCA, ASIC, CySEC | 2019 | 1:1000 |
What a Seychelles FSA licence signals, and what this ranking required
The Seychelles FSA is an offshore regulator. It licenses firms that operate internationally rather than serving one domestic market, and its rules sit lighter than those of an onshore authority such as the UK's FCA or Australia's ASIC. That is why almost every broker here carries a heavier second licence: 58 of the 59 in the qualifying pool hold authorisations from more than one regulator, and all ten below pair their Seychelles registration with at least one tier-1 licence, most often the FCA or ASIC. IG has traded since 1974 and Interactive Brokers since 1996, yet both rank on score rather than age.
Every entry had to clear two bars: a WIKILIX score of 50 or better, and a clean recorded status. The score is our own read on a broker's regulation and trading history, and it is the only thing setting the order. It says nothing about spreads or execution speed, and nothing about whether a firm suits you.
The high scorers this list leaves off
A score above 50 is not a clean bill of health. Of the 59 brokers that qualified on score, 15 carry a status a trader should read first: six flagged as suspicious clones, one as a scam, one as unregulated and one as trading beyond its licence, with a further six recorded simply as offshore. HTFX scored 62.9, higher than six names on this list, yet carries a scam flag, so it is left off. The ten above are the highest scorers that remain once those firms are set aside. The median score across all 59 was 57.2, and 14 of them opened before 2010.
Before you open an FSA account
- Find the licence number on the Seychelles FSA register and confirm the exact company name matches the entity you are signing with, not a similarly named group brand.
- Check which entity takes your deposit. A group may market under a familiar name while booking your account to its Seychelles arm, where FCA or ASIC protections do not reach.
- Weigh the leverage against your own risk. Caps here run from eToro's 1:30 to SuperForex's 1:1000, and a higher ceiling grows losses as fast as gains.
- Look for a second, onshore licence if segregated funds and a compensation scheme matter to you, because the Seychelles licence carries neither on its own.
10brokers on this list
Researched & ranked by the Wikilix team
- #2
Interactive Brokers Hong Kong Limited
RegulatedHong KongEst. 1996MISA
RegulationLicenseSpread73.5Score - #3
IG Group Limited
RegulatedUnited KingdomEst. 1974ASIC
RegulationLicenseSpread70.2Score - #4
GAIN Global Markets, Inc.
RegulatedUnited StatesEst. 2006ASIC
RegulationLicenseSpread68.6Score - #5
eToro (UK) Ltd
RegulatedUnited KingdomEst. 2012ASIC
RegulationLicenseSpread67.8Score - #6
Skilling Ltd
RegulatedCyprusEst. 2016CySECRegulationLicenseSpread65.7Score - #7
OANDA Corporation
RegulatedUnited StatesEst. 2011ASICRegulationLicenseSpread65.1Score - #8
EC Markets Limited
RegulatedUnited KingdomEst. 2014FCA
RegulationLicenseSpread67.0Score - #9
Exness Technologies Ltd
RegulatedCyprusEst. 2014FSARegulationLicenseSpread65.7Score - #10
Finateqs Corp
RegulatedBelizeEst. 2019FSC
RegulationLicenseSpread61.8Score
Score order shifts as WIKILIX rechecks each licence and status, so this ranking is the one that held on the day the page was built, not a permanent order. A broker that picks up a heavier licence can climb, and one that loses its clean status can drop off the list entirely.
If you want to see how a Seychelles licence compares with a home-market regulator, the sibling rankings are the next stop. The top FCA regulated brokers and top ASIC regulated brokers cover two of the tier-1 authorities most of these firms also answer to, while the top CySEC regulated brokers and top FSCA regulated brokers show the same names under other regimes. Whichever you read, confirm the licence number on the Seychelles FSA register before you deposit, and check which company entity your account is booked to.
Frequently Asked Questions
Frequently asked questions
Answers from the Wikilix research team about this ranking.
Most Popular Questions
IG, which has traded since 1974, is the longest-established name here, followed by Interactive Brokers from 1996. Age is not the ranking criterion, though: this list is ordered by WIKILIX score, so IG sits third despite being the oldest. Fourteen of the wider pool of 59 opened before 2010.
Often, yes. Offshore FSA licensing carries no hard leverage cap, so ceilings on this list run from eToro's conservative 1:30 up to SuperForex's 1:1000, with several offering 1:500. Higher leverage magnifies losses at the same rate as gains, and the cap you actually get can depend on which company entity holds your account.
This list cannot tell you that. It ranks brokers by the licence they hold and their WIKILIX score, not by which countries each one accepts clients from, and acceptance changes with your residency and local law. Check the broker's own account-opening terms and any warnings from your national regulator before you sign up.
An FSA licence is real oversight, but it is offshore and lighter than an onshore one, so treat it as one signal rather than a guarantee. Of the 59 FSA brokers that scored 50 or higher, 15 still carry a cautionary status, including one scam flag and six suspicious clones. The ten here were drawn only from those with a clean status.
FSA regulation here means a licence from the Seychelles Financial Services Authority, an offshore body that authorises brokers serving clients internationally. Its requirements on capital and client-money handling are lighter than those of onshore regulators. That is why 58 of the 59 qualifying brokers also hold at least one other licence, most often from a tier-1 authority.
On this list, the FSA is the Seychelles Financial Services Authority, the offshore regulator that licenses these firms. It keeps a public register of the companies it authorises and the licence numbers they hold. It does not run a broad retail compensation scheme, so an FSA licence alone gives you less recourse than an onshore regulator such as the FCA.
Magic Compass (MC900) sits top with a WIKILIX score of 77.5, ahead of Interactive Brokers on 72.5 and IG on 69.5. The score is our own overall read on a broker, and it sets the order here. It is not a measure of spreads or execution, so a high score is a starting point for your own checks, not a verdict.
Ten. They are the highest-scoring brokers WIKILIX has on record holding a Seychelles FSA licence, chosen from 59 that scored 50 or above. The order runs from Magic Compass on 77.5 down to SuperForex on 61.8, and every one carries a clean recorded status rather than a clone or scam flag.