A Comoros forex licence usually means an island-level brokerage licence from Mwali (Mohéli), issued by the Mwali International Services Authority (MISA), or from Anjouan, issued by the Anjouan Offshore Finance Authority (AOFA). Both are marketed as fast and low-cost. They are not licences from the Central Bank of the Comoros, and in December 2025 the central bank described the Anjouan authority as a fictitious entity issuing unauthorised financial licences. Recognition by banks, payment providers and foreign regulators is limited, so check carefully and compare with Seychelles or Mauritius before choosing.
- Comoros brokerage licences come from island authorities: MISA on Mwali or AOFA on Anjouan.
- They are not issued by the Central Bank of the Comoros.
- The central bank called the Anjouan authority fictitious in December 2025.
- Banking and payment access is limited for island-licensed brokers.
- Compare total cost including banking, not just the licence fee.
Looking for licence application support? Compare jurisdictions and get help preparing and managing your licence application.
Search "Comoros forex licence" and you will find two different products: licences from Mwali and licences from Anjouan. They are often sold side by side, but they come from different island authorities and carry different risks.
Mwali vs Anjouan
| Mwali (Mohéli) | Anjouan | |
|---|---|---|
| Issuing authority | Mwali International Services Authority (MISA) | Anjouan Offshore Finance Authority (AOFA) |
| Typical marketing | Fast, low-cost international brokerage licence; providers report paid-up capital of around USD 50,000 | Fast, low-cost, no local office |
| Status | Island-level; recognition by banks and foreign regulators is limited | Disputed: called fictitious by the Central Bank of the Comoros (December 2025) |
| Banking | Mixed; brokers often rely on EMIs and crypto rails | Difficult |
Read our detailed Anjouan forex licence guide.
What to check before choosing a Comoros licence
- Which authority issues it, and its legal basis.
- Whether your target banks and payment providers accept it, in writing.
- Whether liquidity providers will onboard you.
- Whether ad platforms accept it for financial advertising.
- The total first-year cost, including banking, compliance and technology.
- How easily you can move to another regulator later.
Recognised alternatives
For most new brokers, a Seychelles FSA licence or a Mauritius FSC licence costs more but opens far more banking, payment and liquidity relationships. Compare options in our offshore licence guide and capital requirements by licence.
How we help
We help clients choose a jurisdiction that fits their markets, prepare the licence application and supporting documents, and coordinate the process through to approval, with legal opinions from qualified local counsel. We also supply the technology documentation regulators ask for, and the platform, CRM and liquidity to launch once you are approved. See forex licence and company formation.
General information reviewed November 2026, not legal advice. Licensing rules and regulators' positions change; confirm with the regulator and qualified local counsel before you apply. MetaTrader is a trademark of MetaQuotes Ltd.