Wikilix
Licence record

MFSA licence 395/20

Holder
Sheer Markets
Jurisdiction
Mongolia
Licence type
Market Making(MM)

This is Wikilix's record of a licence issued by Malta Financial Services Authority. It sets out what the register says, what we checked, and what the authority's own rules protect.

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RecordModified Sep 7, 2026

Licence Verification Record

Malta Financial Services Authority 395/20

Recorded from the firm's own disclosure. Not yet checked against the register.

Issuing authority
Malta Financial Services Authority
Holder
Sheer Markets (Cyprus) Limited
Jurisdiction
Mongolia
Licence type
Market Making(MM)

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.

wikilix.com/licenses/malta-financial-services-authority/sheer-markets/395-20Fields on file 2 / 11

Open Sheer MarketsAbout MFSA
Our check

What we checked

Nobody has adjudicated this licence yet. It is recorded here as claimed, not as confirmed.

Wikilix check
Not checked
Authority strength
Tier 2
Jurisdiction
Mongolia
Last checked
Never

Nobody at Wikilix has looked this licence up on the official register yet. Everything above comes from the record as supplied; treat it as a claim until you have checked it yourself.

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.
The register

What the authority publishes

Printed as the register prints it. A field that is missing here is one nobody has recorded, not one the register leaves blank.

Licence number
395/20
Licence type (Wikilix classification)
Market Making(MM)
The authority

About MFSA

Malta Financial Services Authority is the authority that issued this licence, and the jurisdiction it applies in is Mongolia.

Full name
Malta Financial Services Authority
Jurisdiction
Mongolia
Strength
Tier 2Well-established regimes with real supervision, usually with lower compensation limits than tier 1.
Established
2002
Oversight
A government or statutory body
Firms we track under it
158 firms
Regulates
forex, bond, Stocks, Derivatives, Loa
Licences it issues
Investment Services Licence (Cat 2/3)
Typical cost of a licence
€50000-100000
Public register
Searchable by the public
Transparency
High
Protection

What this licence protects

MFSA's own rules for the firms it authorises.

  • Compensation schemeUp to €20000 (ICF)
  • Negative balance protection
  • Complaints routeMFSA Complaints Office
  • Maximum leverage1:30
This describes the authority's regime, not how Sheer Markets applies it.
The holder

Who holds this licence

The licence above is recorded against Sheer Markets. A licence is issued to a legal company, so the companies below are what you would search a corporate register for.

Broker
Sheer Markets (Cyprus) Limited
Based in
Mongolia
Wikilix score
47.3the firm’s overall score, not a rating of this licence

Recorded companies

None of these matches the name the register printed, so we do not say which one holds this licence.

  • SHEER MARKETS (CYPRUS) LTDMongolia · Reg. HE404686 · Nov 29, 2019
Provenance

Where this record came from

Every date below has already happened. We do not publish a promised next-update date, because we do not schedule per-licence re-checks.

Last checked by Wikilix
Never — nobody has looked this entry up yet
Record last edited
When this entry was last changed in our database, which may be a correction rather than a change at the register.
Wikilix records what an authority published. It does not issue or endorse authorisations.
Frequently Asked Questions

Questions about this licence

Answered from this register entry and the authority’s own record.

Most Popular Questions
Sheer Markets offers a maximum leverage of up to 100:1. This leverage level allows traders to control larger positions relative to their account balance but also involves increased risk.
Withdrawals from Sheer Markets must be made from a verified account, indicating that KYC (Know Your Customer) verification is required. This helps ensure security and compliance with regulatory standards.
The minimum deposit amount at Sheer Markets is 200 USD or EUR. This applies to all supported deposit methods including bank wire transfers, credit/debit cards, Skrill, and Neteller.
Sheer Markets supports deposits via bank wire transfers, credit/debit cards, Skrill, and Neteller. Deposits by wire transfer typically take 1-3 business days, while credit/debit card and e-wallet deposits are usually instant. Withdrawals by wire transfer are processed within 24 hours but may take 2-5 business days to reach the account.
Sheer Markets offers the MetaTrader 5 platform, which is a multi-asset trading platform supporting forex, stocks, and futures. MetaTrader 5 provides advanced analytics, faster execution, and algorithmic trading tools, available on desktop and other devices.
Sheer Markets (Cyprus) Limited is regulated by the Malta Financial Services Authority (MFSA), an onshore regulator. The broker holds a Market Making license and offers client fund insurance up to €20,000 under the Investor Compensation Fund. It is subject to high transparency and regulatory standards.
Licence 395/20 was issued by Malta Financial Services Authority (MFSA), the financial authority for Mongolia.
Sheer Markets holds this MFSA licence. A licence on record means the authority published an entry; it is not an endorsement.
Nobody at Wikilix has looked this entry up on the MFSA register yet, so treat it as claimed rather than confirmed. That is a gap in our coverage, not a finding against the licence.
Wikilix rates MFSA tier 2: a well-established regime with real supervision, usually with lower compensation limits than a tier-1 authority.
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