Wikilix
Licence record

MISA licence T2023415

Holder
Caibull
Jurisdiction
Comoros
Licence type
Retail Forex License
Last checked
Sep 19, 2026

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

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Licence intelligence

RecordModified Sep 19, 2026

Licence Verification Record

Moroni International Services Authority T2023415

Wikilix read the MISA register on Sep 19, 2026. This is what it said.

Issuing authority
Moroni International Services Authority
Holder
CaiBull Ltd
Jurisdiction
Comoros
Licence type
Retail Forex License
Effective
Nov 27, 2023
Expires
Nov 27, 2025
Register status
Registered to Eva Markets Ltd, not to CaiBull Ltd; listed Active on the register, though the recorded term ran to Nov 2025.

Checked Sep 19, 2026

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

wikilix.com/licenses/moroni-international-services-authority/caibull/t2023415Fields on file 9 / 11

Open CaibullAbout MISA
Our check
Checked

What we checked

This authorisation is in force but limited — it does not carry the same protections as a full trading licence.

Wikilix check
Limited
Authority strength
Tier 4
Jurisdiction
Comoros
Last checked
Sep 19, 2026
Register says
Registered to Eva Markets Ltd, not to CaiBull Ltd; listed Active on the register, though the recorded term ran to Nov 2025.

Finding

An offshore registrar authorisation. On the MISA register this licence (T2023415) and company number HY01123442 are recorded to Eva Markets Ltd (evamarkets.com), a different, now-defunct broker, not to CaiBull Ltd. Client protection: None in practice; MISA is not a functioning financial supervisor and its licences have been publicly disavowed.. Effective: 27 Nov 2023. Expires: 27 Nov 2025.

Exhibit

Register screenshot, captured Sep 19, 2026

Verification note

Caibull publishes this licence on its own regulation page and repeats it in its Terms of Business, Withdrawal Conditions and AML policy, each naming CaiBull Ltd, company number HY01123442, as an International Brokerage and Clearing House licensed by the Mwali International Services Authority on the Island of Moheli, Comoros. The authority operates no public licence lookup, so the number cannot be checked against an official record, and a licence of this class carries no client-money protection, no compensation scheme and no independent complaints mechanism.

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
T2023415
Licence type (Wikilix classification)
Retail Forex License
Register status
Registered to Eva Markets Ltd, not to CaiBull Ltd; listed Active on the register, though the recorded term ran to Nov 2025.
Effective from
Expires
The authority

About MISA

Moroni International Services Authority is the authority that issued this licence, and the jurisdiction it applies in is Comoros.

Full name
Moroni International Services Authority
Jurisdiction
Comoros
Strength
Tier 4Minimal supervision. A registration here says little about client protection.
Established
2014
Oversight
A government or statutory body
Firms we track under it
20 firms
Regulates
Forex
Licences it issues
International Brokerage Licence
Typical cost of a licence
USD 3000-7000
Public register
No public register published
Transparency
Low

MISA is classed as an offshore regime. An offshore registration can be entirely legitimate, but it typically means lower capital requirements, no compensation scheme, and a complaint route that is harder to use from abroad.

Protection

What this licence protects

MISA's own rules for the firms it authorises.

  • No compensation scheme
  • Negative balance protection
  • No complaints route
  • Maximum leverage1:997
This describes the authority's regime, not how Caibull applies it.
The holder

Who holds this licence

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

Broker
CaiBull Ltd
Based in
Comoros
Wikilix score
33.7the 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.

  • CaiBull LtdComoros · Reg. HY01123442
  • Modisa Fintech LtdCyprus · Reg. HE 441220 · Dec 4, 2022
  • Finorka LtdMauritius · Reg. C186708
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.

Official source
The issuing authority’s registerPublished by the authority, not by Wikilix.
Last checked by Wikilix
Record last edited
When this entry was last changed in our database, which may be a correction rather than a change at the register.
Evidence held
A screenshot of the register entry is on file.
Wikilix records what an authority published. It does not issue or endorse authorisations.
Also on record

Other licences Caibull holds

One other licence is on record for Caibull.

Frequently Asked Questions

Questions about this licence

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

Most Popular Questions

By email at support@caibull.com, through the contact form, or via the live chat widget on the site. Complaints go to that same general support address under the Complaints Handling Procedure. There is no telephone number published anywhere on the site and no named compliance officer, and the only postal address is the registered office in the Comoros.

It reserves the right to. Section 6 of the Terms of Business states that Caibull may act as a market maker in forex and CFD contracts, may hold positions contrary to a client's, and may retain a proprietary position with the intention of making a trading profit. The same document acknowledges that this creates a conflict of interest between the company and its clients.

Caibull says so, describing segregated accounts held with tier one banks and reconciled daily. None of it can be checked: no bank, auditor or custodian is named, and the offshore licence it claims imposes no segregation duty that a client could enforce. Treat the statement as a marketing claim rather than a protection you could rely on.

Its registration form offers a closed list of 117 countries, and that list is what actually governs who can open an account. Caibull separately states that it does not serve residents of the United States, Sudan, Syria, Iran, North Korea, Myanmar or the United Arab Emirates. Six of those seven are indeed missing from the registration list, but Iran is still selectable, so the two do not quite agree.

Caibull publishes symbol level tables covering about 70 currency pairs, 66 share CFDs, 16 crypto CFDs, 10 index CFDs, 8 metals and 3 energy contracts, which is roughly 173 instruments in total. Note that the home page advertises more than 1,000 instruments, a figure the published tables do not support. The CENT account is limited to forex and gold.

MetaTrader 5 only, running on a server named Caibull-Trade, with Expert Advisor support, depth of market and one click trading. Caibull advertises Windows, Mac, web and mobile access, though on its platforms page the Mac download and the web trader link both lead to the same Windows installer.

Yes, and the conditions are set out in its Withdrawal Conditions document. Caibull can cancel a request if you do not supply updated identification or bank details within seven days, if the request is incomplete, or if you chose a withdrawal method that breaks its same method rule. Clients whose accounts are only partially approved cannot withdraw anything until their KYC documents are accepted.

Caibull states that requests are handled Monday to Friday between 08:00 and 17:00 server time and processed the same or the next working day, which is narrower than the instant processing its home page advertises. The company says it charges no deposit or withdrawal fees of its own, and that any charge comes from your bank, card issuer or the payment gateway. No minimum or maximum withdrawal amount is published.

The two routes Caibull documents are cards, meaning Visa and Mastercard, and bank transfer. Withdrawals must go back to the method used for the deposit, and a card refund cannot exceed what was originally deposited on that card, with the remainder paid by bank transfer. Card deposits older than six months and expired cards cannot be refunded to the card at all.

The lowest advertised spread is 0.0 pips on the RAW account, which charges 4 USD per lot on forex. The commission free tiers are more expensive in spread terms, starting at 0.8 pips on VIP and 1.7 pips on PRO, with CENT at 1.2 pips and a commission of up to 0.10 USD. Share CFDs carry 0.02 USD per lot on PRO, RAW and VIP.

Up to 1:2000, but only on major currency pairs and only on small positions. Leverage is lot based and steps down as your net open lots on a symbol rise, and it varies by asset class: 1:1000 on minor pairs, 1:500 on metals, indices and oils, 1:200 on exotic pairs, 1:50 on shares and 1:10 on crypto. Leverage at this level is not permitted for retail clients in most regulated markets.

10 USD, on the CENT account. The other tiers start at 25 USD for PRO, 100 USD for RAW and 200 USD for VIP. All accounts are denominated in USD, and the CENT account is capped at a maximum deposit of 1,000 USD.

There is no evidence that Caibull is a scam, and equally nothing that confirms it is safe. It runs a real trading service on MetaTrader 5 and publishes an unusually complete set of legal documents and pricing tables. What cannot be established is the thing that matters most: whether anyone supervises it, and which legal entity actually holds client money. Treat it as unverified rather than clean.

Caibull is a brand of CaiBull Ltd, registered under number HY01123442 at Bonovo Road, Fomboni, Island of Moheli, Union of the Comoros. The picture is not entirely consistent: the definitions clause of the Terms of Business names the contracting company as KYMM Capital Ltd trading as CaiBull, using the same registration number and licence. No director or beneficial owner is named anywhere on the site.

Not by any authority that supervises retail forex in a major market. Caibull claims a single licence for its trading entity, number T2023415 from the Mwali International Services Authority in the Comoros, and that claim is unconfirmed because the authority operates no public licence register. The company also advertises a Mauritius licence, but that one is held by a separate group company rather than by the entity you would trade with.

Licence T2023415 was issued by Moroni International Services Authority (MISA), the financial authority for Comoros.
Caibull holds this MISA licence. A licence on record means the authority published an entry; it is not an endorsement.
We located this entry on the MISA register. Note that confirming a register ENTRY is not the same as confirming a live licence — the register’s own wording on this page is what states its current standing.
Wikilix rates MISA tier 4, the lowest band. A registration here says little on its own about client protection.
Yes, MISA is classed as an offshore regime. That can be a legitimate registration, but it usually means lower capital requirements, no compensation scheme, and a complaint route that is harder to use from abroad.
This page links straight to the MISA register. Search it for T2023415, and for the name Caibull rather than the trading brand.
Caibull has one other licence on record with Wikilix, across one jurisdiction. They are listed further down this page.
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