Top 10 FSA (Seychelles) Regulated Forex Brokers by Score

Ten brokers sit at the top of this list, chosen from the 44 firms we track that hold a Seychelles FSA licence, carry no warning flag on their file, and score 50 or above. They are ordered by WIKILIX score, highest first, and by nothing else. The Seychelles Financial Services Authority is an offshore, tier-3 regulator, so the licence on its own says less than most comparison sites imply. It covers the entity a broker registers in Victoria, not the whole company.

That distinction runs through the set. Of the 44 firms that qualified, 41 also hold at least one tier-1 licence, most often from the UK Financial Conduct Authority or Australia's ASIC. Interactive Brokers lists eleven regulators on its record, including the FCA, ASIC and Hong Kong's SFC. IG, founded in 1974, holds eight. For firms like these the Seychelles registration usually sits beside the stronger licences, reserved for clients they cannot take on under stricter rules. Exness and SuperForex both work that way.

What a Seychelles FSA licence actually regulates

The FSA in Victoria licenses securities dealers registered in Seychelles, gives each an SD number you can look up on its public register, and sets capital and conduct rules for that local entity. What it does not carry is the safety net a trader in London or Sydney tends to assume. No statutory compensation scheme stands behind a Seychelles licence the way the FSCS stands behind an FCA one, and leverage is not capped. The maximum on record here reaches 1:2000, against 1:30 on an FCA retail account. Fourteen of the 44 advertise 1:1000 or more.

Why the score, and what it leaves out

The order is the WIKILIX score alone. It is our composite read on each firm, weighted toward how many licences it holds and how strong they are, and how long it has traded. The median across the 44 is 56.1, and scores run from 50.2 up to 77.5. It is not a measure of spreads, execution speed or a firm's handling of withdrawals, and it is not a verdict on whether a broker is safe for you. Fourteen of these firms opened before 2010; the oldest familiar name, IG, dates to 1974, and one Japanese securities house on record goes back to 1962.

The fifteen names left off

Fifteen more brokers hold a Seychelles FSA licence and clear a score of 50, but each carries a status our researchers flagged: a suspected clone, an offshore-only operation, or in one case a scam report. A strong score does not cancel that, so none of them reaches the ten above. If you are weighing one of those names, read its page and the flag on it first.

Before you open an account with an offshore entity

• Check which company you are actually contracting with. A broker may show an FCA logo yet open your account under its Seychelles entity, and that is where the FSA licence, and only that licence, applies.
• Look up the SD number on the FSA's own register in Victoria instead of trusting a badge on the broker's website.
• Read the leverage you will really be offered. The 1:1000 figures attached to several of these firms belong to their offshore entity, not their capped tier-1 arm.
• Confirm the Seychelles entity accepts clients where you live. A licence held is not the same as a door open to you.