#1
Magic Compass
RegulatedCyprusCySEC
Regulation
License
Spread
79.0Score
Forty-four brokers in the WIKILIX database hold a licence from the Seychelles Financial Services Authority, carry our clean regulation status label and score 50 or above. The database records 280 brokers holding a Seychelles FSA licence in total. The distance between 280 and 44 is most of what this page is for.
Scores in this set run from 50.2 to 77.5, with a median just above 56, and the grid is ordered by score. IG carries a recorded opening date of 1974. eToro and Plus500 record a maximum leverage of 1:30, while 14 of the 42 brokers with a leverage figure recorded go to 1:1000 or higher. Only three of the 44 are headquartered in Seychelles: 11 are registered in the United Kingdom and 7 in Australia.
| Broker | Score | Other regulators recorded | Opened | Max leverage |
|---|---|---|---|---|
| MC900 | 77.5 | CySEC, SFC, FSC | not recorded | not recorded |
| InteractiveBrokers | 72.5 | FCA, ASIC, SFC, CIRO and 6 more | 1996 | 1:400 |
| IG | 69.5 | FCA, ASIC, MAS, BaFin and 3 more | 1974 | 1:400 |
| FOREX.com | 68.3 | FCA, ASIC, NFA, CIRO, MAS, CySEC | 2006 | 1:200 |
| eToro | 67.8 | FCA, ASIC, MAS, CySEC, ADGM | 2012 | 1:30 |
| Skilling | 65.7 | FCA, CySEC | 2016 | 1:200 |
| OANDA | 64.9 | FCA, ASIC, NFA, MAS, CIRO | 2011 | 1:50 |
| EC markets | 64.5 | FCA, ASIC, FMA, FSCA | 2014 | 1:500 |
Where the boundary sits
Three conditions draw this list, and each one keeps real brokers off it. The first is the licence: a broker qualifies only where our records show a licence issued by the Seychelles FSA, which is regulator id 3 in the WIKILIX table. The second is our own recorded status label, which has to read regulation. The third is a score floor of 50.
What the boundary is not: it is not a list of brokers that accept clients from any particular country, and it is not a list of brokers headquartered in Seychelles. Those are three separate facts about a firm, and treating them as one is the usual failure on pages like this. Exness is registered in Cyprus, Saxo appears here through its Hong Kong entity, and both hold the Seychelles licence.
How we built this list
The page is a stored query, so nobody chose the members and nobody chose the order. The WIKILIX score is our own composite metric and is used here for two things only: a floor at 50, and the sort. We publish no spread, commission or execution figure, so nothing on this page ranks brokers on cost or on fill quality.
Licence tier is not printed on a broker card, so we resolved it separately by joining the regulator short names on each card to the WIKILIX regulator table. Counting only short names that map to a single authority, 41 of the 44 hold at least one tier-1 licence. Twenty-six record an FCA licence and twenty-six record ASIC. The Seychelles FSA itself sits in the tier-3, offshore band of that same table, below both.
Who is not here
236 of the 280 licence holders are outside this page. Of the twelve highest-scoring FSA licence holders before the status filter is applied, three carry a suspiciousClone label and one is labelled offshore, so the status condition alone removes a third of what would otherwise be the top of the grid. Brokers with no score row at all are dropped by the join rather than scored zero, which means a firm we simply have not scored yet is absent for a clerical reason.
The other absence worth naming is the acronym itself. Several authorities use the initials FSA. Japan's Financial Services Agency is classified tier-1 and onshore in our table, and the Seychelles authority is tier-3 and offshore. The earliest opening date in this set, 1962, belongs to Banyo Securities, a firm domiciled in Japan, which is a fair reminder to read a licence number rather than a set of initials.
What a Seychelles licence covers
A Seychelles licence confirms that an entity is registered and supervised there. It does not extend to a group's other companies, and it carries no equivalent of the UK Financial Services Compensation Scheme. That is why the tier-1 crossover figure above matters more than the licence badge: 14 of these brokers opened before 2010 and most of them run several entities, and the one you sign with decides what you have.
- Find the licence number on the broker's own legal page, then search it on the Seychelles FSA register instead of trusting a footer badge.
- Read the entity named in the client agreement. A group can hold an FCA licence and still onboard you to its Seychelles company.
- Check any UK claim on the FCA register, where an appointed representative entry looks nothing like a direct authorisation.
- Compare the leverage on offer against that entity. Both 1:30 and 1:2000 appear on this page, sometimes inside the same brand.
This list does not tell you spreads, execution quality, withdrawal times, or whether a broker will accept a client where you live. It reflects licence records held in the WIKILIX database as of today, and a record can lag a change at the regulator.
49brokers 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
EC Markets Limited
RegulatedUnited KingdomEst. 2014FCA
RegulationLicenseSpread67.0Score - #7
Skilling Ltd
RegulatedCyprusEst. 2016CySECRegulationLicenseSpread65.7Score - #8
Exness Technologies Ltd
RegulatedCyprusEst. 2014FSARegulationLicenseSpread65.7Score - #9
OANDA Corporation
RegulatedUnited StatesEst. 2011ASICRegulationLicenseSpread65.1Score - #10
EMC
RegulatedAustraliaEst. 2022ASICRegulationLicenseSpread64.4Score - #11
CORE SPREADS
RegulatedUnited KingdomEst. 2014FCARegulationLicenseSpread62.9Score - #12
AVA Trade EU Ltd.
RegulatedIrelandEst. 2008ASIC
RegulationLicenseSpread62.8Score
This page is a query, not a snapshot. A broker that gains a Seychelles licence, loses one, has its status label changed or moves across the score floor of 50 enters or leaves the grid with no edit to this text. The written count is refreshed when the page is rebuilt, so if the copy says 44 and the grid disagrees, the copy is the stale part and the grid is current.
Two obvious next steps from here. If the tier-1 crossover is what interests you, the 26 brokers on this page recording a UK licence are covered in more depth on FCA regulated brokers, and the Australian side on ASIC regulated brokers. For the strictest cut we publish, tier-1 regulated brokers scoring 70+ drops the offshore licences entirely.
Going the other way, FSA regulated brokers based in Seychelles answers the domicile question this page deliberately does not, and brokers recording 1:1000 leverage or higher covers the 14 firms here that sit at the top of the leverage range.
One standing caveat. Every figure on this page comes from our own licence records. Confirm a licence number on the issuing regulator's register before you deposit, and confirm which company you are contracting with.
Frequently Asked Questions
Frequently asked questions
Answers from the Wikilix research team about this ranking.
Most Popular Questions
This page cannot tell you, and no filter on the site can. WIKILIX records where a broker is headquartered and which authorities licence it, not which countries it onboards clients from. One broker here, FXPesa, is headquartered in Kenya, but a licence held anywhere says nothing about residency rules. Read the broker's own client agreement and account opening terms.
Two conditions remove them. A broker has to carry our regulation status label, which excludes firms recorded as offshore, unregulated or as a suspicious clone, and it has to score 50 or above, which drops lower-scored firms along with any broker holding no score row at all. Of the twelve highest-scoring licence holders before those conditions, three carried a clone label.
No. Several authorities share the initials FSA, including Japan's Financial Services Agency, which our table classifies as tier-1 and onshore, and the Seychelles authority, which is tier-3 and offshore. This list is keyed to the Seychelles record. Where a broker advertises itself as FSA regulated, check the licence number against the register of the authority it actually names.
The earliest opening date recorded here is 1962, against Banyo Securities, a Japan-domiciled firm. Among the internationally known names IG records 1974, Hantec 1990 and Saxo 1992. Fourteen of the 44 opened before 2010. Three carry no opening date at all, which is why any filter built on years in operation would drop them from the page entirely.
Forty-one of the 44. We read the regulators recorded on each broker card and joined them to the WIKILIX regulator table, counting only short names that map to a single authority, such as FCA, ASIC and SFC. Three brokers show no tier-1 authority beside the Seychelles licence: Banyo Securities, M4Markets and doto. That is a fact about the record rather than a verdict.
Forty-four. The database records 280 brokers holding a Seychelles FSA licence, and this page shows those that also carry our clean regulation status label and score 50 or above. It is generated from a stored query, so a broker that gains or loses a licence, or whose score crosses 50, appears or disappears without anyone editing the page.
An account opened with a broker's Seychelles entity sits with the Financial Services Authority of Seychelles. The same brand's UK or Australian account does not: those fall to the FCA or ASIC, under different capital and complaint rules. Twenty-six brokers on this list record an FCA licence and twenty-six record ASIC, so the entity named on your contract decides which regulator applies to you.
On this page FSA means the Financial Services Authority of Seychelles, which licenses non-bank financial firms registered there. The WIKILIX regulator table classifies it as tier-3 and offshore, below the FCA or ASIC for the protection a retail client can expect. A licence confirms registration and supervision in Seychelles. It says nothing about how a group's other entities behave.