MISA (Comoros) Regulated Brokers

One hundred and three brokers in the WIKILIX database are recorded as holding a licence from the Moroni International Services Authority, or MISA, an offshore licensing body in the Comoros. This page lists every one of them, ordered by overall WIKILIX score, from Interactive Brokers at 72.5 down to two firms sitting at 4. A MISA licence is a tier-4 registration, the weakest of the four tiers WIKILIX tracks, and this list exists so you can check whether a broker's "Comoros regulated" badge means what its marketing implies.

It usually means less than it sounds. Only 35 of the 103 are actually headquartered in the Comoros. The rest are domiciled in Saint Vincent, Saint Lucia, Australia, the United Kingdom, Seychelles and elsewhere, holding the Comoros licence as one registration among several or as their only one. Seventy of the 103 list no regulator at all beyond MISA, so it is the single piece of oversight on record for them. Seventy also carry a WIKILIX status flag rather than a clean label: 44 marked offshore, 16 noRegulation, five suspiciousClone and five exceeded.

What a Comoros MISA licence is, and what this list required

To appear here a broker needs one thing only: a MISA licence recorded in the WIKILIX database. No score floor and no status filter are applied, so this is the full register rather than a shortlist of the good ones. That is deliberate. If you have landed on a broker advertising Comoros regulation, you want to see it in context, next to the 102 others carrying the same licence, not filtered out because its score is low.

The Moroni International Services Authority issues offshore business licences from the Comoros. It sets no meaningful capital requirement and runs no investor compensation scheme. It imposes no leverage cap either, which is why 26 of the brokers here advertise 1:1000 or more and three of them, INGOT, FXLINK and CapitalXtend, list 1:5000. The median score across the 103 is about 28, and 26 opened before 2010, with Plotio Global Financial the oldest at 1983.

What a tier-4 offshore licence does not give you

A tier-1 regulator such as the FCA or ASIC caps retail leverage near 1:30 and backs a compensation scheme if the firm collapses. It also requires client money to sit in segregated accounts that it inspects. A Comoros licence carries none of this, and MISA's standing has been publicly questioned, including by the Comoros central bank. A high WIKILIX score does not close that gap: QRS GLOBAL scores 60 yet carries a suspiciousClone label in our records. Before treating any of these firms as regulated, work through the checks below.

• Find out which legal entity would actually open your account. A group may hold an FCA licence in London and still onboard you through its Comoros arm, where none of the FCA protections reach.
• Check whether the broker holds a stronger licence too, and whether that licence covers your account rather than sitting on the homepage for reassurance.
• Read the advertised leverage as a warning rather than a perk: 1:1000 and above is banned for retail clients by every tier-1 regulator.
• Confirm the firm's status yourself, because a Comoros licence leaves you with no local ombudsman and no compensation fund to fall back on.

Two things this list does not tell you. It does not tell you whether a broker will accept you as a client, because that is set by each firm's own terms, not by where it is licensed or based. And it says nothing about trading costs or how reliably a firm returns your money, neither of which WIKILIX holds as verified figures. Everything above reflects licence records in the WIKILIX database as of today; confirm any licence on the issuing body's own register before you deposit.