To start a forex brokerage in Mauritius you set up a Global Business Company and apply to the Financial Services Commission (FSC) for an Investment Dealer licence under the Securities Act 2005. Most forex and CFD brokers choose the Full Service Dealer (excluding Underwriting) category, which needs at least MUR 1 million in unimpaired stated capital. You also need fit and proper directors and shareholders, a compliance officer, an MLRO and deputy MLRO, real substance in Mauritius, and a trading, CRM and reporting stack that supports FSC supervision.
- Forex brokers in Mauritius are licensed by the FSC as Investment Dealers.
- Minimum capital ranges from MUR 600,000 (Discount Broker) to MUR 10 million (Full Service including Underwriting).
- Most brokers choose Full Service Dealer (excluding Underwriting), with a MUR 1 million minimum.
- Applicants are usually Global Business Companies that must meet economic substance rules.
- Mauritius was removed from the FATF grey list in October 2021, which supports banking relationships.
Looking for a turnkey brokerage set-up? MT5 white label, liquidity, CRM and payments in one package for your FSC licence.
Mauritius is one of the most respected offshore centres for forex and CFD brokers. It sits between Africa and Asia, has a mature financial centre in Ebène, and its FSC licence is seen as more credible than many offshore alternatives. This guide explains the licence options, capital, substance and technology you need.
Why brokers choose Mauritius
- Credibility. A well-established regulator and a financial centre with many banks, law firms and management companies.
- Location. A time zone that suits Africa, the Middle East, Asia and Europe.
- Banking. Mauritius was removed from the FATF grey list in October 2021, which helps with banking and payment providers.
- Cost. Lower capital and running costs than top-tier licences such as the FCA or CySEC.
Comparing options? Read Mauritius vs Seychelles forex licence and our offshore forex licence guide.
FSC Investment Dealer licence categories
| Category | Minimum unimpaired stated capital | Typical use |
|---|---|---|
| Full Service Dealer (including Underwriting) | MUR 10 million | Firms that also underwrite securities issues |
| Full Service Dealer (excluding Underwriting) | MUR 1 million | Most forex and CFD brokers, including market makers |
| Broker | MUR 700,000 | Agency brokers that do not deal as principal |
| Discount Broker | MUR 600,000 | Execution-only brokers |
Capital can be held in the foreign-currency equivalent. Plan for working capital on top of the minimum, because banks, liquidity providers and the FSC will look at your overall financial strength.
Company structure and substance
Most licensees are Global Business Companies administered by a licensed management company in Mauritius. The FSC expects:
- fit and proper directors, shareholders, beneficial owners and key staff,
- usually at least two Mauritius-resident directors,
- a compliance officer, a money laundering reporting officer (MLRO) and a deputy MLRO,
- staff with relevant experience and qualifications, and
- economic substance in Mauritius, such as local expenditure, staff or premises appropriate to the business.
Step-by-step: how to start a brokerage in Mauritius
- Choose a management company. It handles incorporation, the Global Business Licence and local compliance support.
- Pick your licence category. Usually Full Service Dealer (excluding Underwriting) for forex and CFD brokers.
- Prepare documents. Business plan, financial projections, AML/CFT policies, risk policies and personal documents for all key people.
- Describe your technology. The FSC wants to understand your trading platform, CRM, risk controls and data security. We supply system documentation.
- Submit and respond. Answer FSC questions and complete any conditions before the licence is issued.
- Open bank and payment accounts. Corporate banking, segregated client accounts and payment providers for your target markets.
- Launch. Go live with AML monitoring, client money controls, audits and FSC reporting.
The technology stack for an FSC broker
| Component | Purpose |
|---|---|
| Trading platform | MT5 white label or another platform under your brand. See white label vs full licence |
| Liquidity and bridge | Access to liquidity providers and A/B-book routing through a liquidity bridge |
| Forex CRM and client portal | Onboarding, KYC, deposits, withdrawals and IB management in the CRM |
| Risk management | Real-time exposure and margin monitoring |
| Payments | Cards, wires, e-wallets, African mobile money and crypto gateways where permitted |
| Reporting | Financial, AML and management reporting for the FSC and auditors |
Want everything in one package? A turnkey brokerage combines the platform, liquidity, CRM and payments so you can launch soon after your licence is granted.
Serving Africa and Asia from Mauritius
Many Mauritius-licensed brokers serve clients in Africa, the Middle East and Asia, using local payment methods such as mobile money. Each target country has its own laws, so take advice before marketing to its residents. See our pages for Kenya, South Africa and Southern Africa.
How we help Mauritius brokers
We provide MT5 white label, liquidity, forex CRM, risk tools, payment integrations and reporting, plus technology documentation for your FSC application. We do not issue licences or give legal advice; we work alongside your management company and lawyers. See our Mauritius page.
General information reviewed November 2026, not legal, tax or investment advice. Rules change; confirm your model with qualified local counsel. MetaTrader is a trademark of MetaQuotes Ltd.