Best Forex Brokers Mauritius 2022

To come up with this list, we have tested forex brokers Mauritius.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Then, we placed trades in each popular market to get the real picture. 

We also contacted the customer support to solve the possible issues. At last, to check the withdrawal process we withdrew our funds.

We handpicked the best forex brokers Mauritius based on our trading data and experience as a trader.

Is Forex Trading available in Mauritius?

The island of Mauritius is located in the Indian Ocean, about 500 miles east of Madagascar. It has an economy largely dependent on tourism, which accounts for over 50% of its total export revenue and nearly 80 percent worth of water sports products. Also, Mauritius is famous offshore zone for financial firms, since Island tend to attract capital to its jurisdiction.

For Forex Mauritius is an offshore zone with lower requirements for Forex and trading Brokers establishments. Though rules have been enhanced recently, still Mauritius is an offshore zone attractive to many Brokers, and there might be few reasons why Broker would choose to operate offshore entity not in a serious jurisction with good financial trust:

• Brokers that may engage in fishy business and might be a scam due to low requirements and easy run of entity always based offshore, for this reason it is not recommended to sign with solely offshore brokers
• Brokers that don’t have high capital to obtain a serious license also might choose offshore as first place to establish entity
• Also, Mauritius is a solution for international brokers that are seeking to enhance their proposals with options like high leverage or no deposit bonuses, or offer wider range of instruments, also accept clients from all over the world, this choice of Broker is considered relatively safe for traders.

Are Mauritius Forex Brokers safe?

No, solely Mauritius Based Forex Brokers are not considered safe enough for Forex Trading due to low regulation requirement, establishment standard and monitoring of the operation. Meaning the broker in Mauritius is able to perform almost any type of service and not be monitored for its trustworthiness.

If traders are looking for benefits such as high leverage or bonuses available in offshore brokers and Mauritius Brokers, you may better trade with the international entity of popular brokers who also hold other top-tier licenses like FCA, and ASIC, so the brokers reliability is proved by other regulations.

Forex Brokers Mauritius are under the regulation of the Financial Services Commission (FSC), which is one of the offshore regulators in the financial field. It is obligatory to be regulated by the local authorities upon firm establishment. Of course, most financial professionals consider offshore regulators the least trustworthy in the industry.

The official website of the FSC is www.fscmauritius.org.

🏦Regulator	The Financial Services Commission (FSC)
🛡️Is It safe to trade	No
🔒Negative Balance Protection	No
💰Compensation Scheme	No

Best Forex Brokers in Mauritius

Taking into consideration the fact that Mauritius is an offshore zone, we do not advise signing with solely Mauritius-based firms due to the high risks involved.

When choosing forex brokers Mauritius there are a number of aspects to pay attention to. First, it is essential to avoid solely offshore brokers, since it can be a scam too. Then select Broker with other top-tier licenses for safety and good to check comments from other traders online and see if there were any issuess with the broker in past.

We have tested a number of forex brokers in Mauritius, and were able to come up with the list of the best brokers, who are sharply regulated firms and also run international entity in Mauritius:

• Amana Capital – Best Overall Forex Broker in Mauritius
• FP Markets – Best MT4 Forex Broker in Mauritius
• AvaTrade – Best Stock Forex Broker in Mauritius

Best Forex Broker in Mauritius Overall

We picked Amana Capital as the overall best forex broker Mauritius. 

Amana Capital is a forex and CFDs broker. It has offices in Dubai, London, Limassol, and Beirut. Amana Capital offers trading instruments in multiple categories: forex, indices, commodities, cryptocurrencies, and shares CFDs. The broker is tightly regulated by top-tier regulators: FCA, CySEC, CMA, etc.

Amana Capital offers four account types: Amana Classic, Amana Active, Shares Account, and Amana Elite. The broker’s trading fees are commonly built into spreads and it charges a commission on share CFDs trading and for all asset classes on its top-tier accounts.

Spreads on forex and share CFDs are on the lower side. Anyway, spreads on indices and commodities are a little higher than the industry average. Amana Capital enables traders to choose a deposit method from multiple options: bank transfers, credit and debit cards, online wallets like Neteller and Skrill, and many other popular methods. The traders can conduct their trades on the popular MT4 and MT5 trading platforms. The customer support of the broker is also very helpful. Traders can reach out to them by a live chat, email, or phone.

Best MetaTrader4 Forex Broker Mauritius

We picked FP Markets as the best MT4 forex broker Mauritius.

Founded in 2005, FP Markets is an Australia-headquartered forex broker. It offers trading instruments with forex, stocks, indices, commodities, and cryptocurrencies. FP Markets is known for its forex ECN pricing. The broker holds licenses in multiple jurisdictions: the United Kingdom, Australia, Cyprus, Saint Vincent, and the Grenadines.

FP Markets spreads are generally lower than the industry average. For forex and indices, they are lower than the industry benchmark. Spreads on stocks, commodities, and cryptocurrencies, are mostly on the average benchmark.

We have chosen FP Markets as the best MT4 forex broker Mauritius as its MT4 platform is favorable to conduct successful trading. It includes all the necessary tools and features. The broker also offers trades on MT5 and IRESS platforms, which are also very good. FP Markets accounts are based on its trading platforms: Standard and Raw account for MetaTrader platforms and Standard, Platinum, and Premier account for IRESS.

Best Stock Brokers in Mauritius

We picked AvaTrade as the best stock forex broker Mauritius. 

AvaTrade is headquartered in Dublin, Ireland, and was founded in 2006. The broker holds multiple licenses in Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands. AvaTrade offers trading instruments: forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs. Spreads on indices and stocks are generally on the lower side or in line with the industry average.

AvaTrade offers its clients multiple trading platforms: MetaTrader 4, MetaTrader 5, WebTrader (AvaTrade’s proprietary web-based platform), AvaOptions (forex vanilla options), AvaTradeGo (for mobile trading).

List of Forex Brokers in Mauritius

There are many available and trustworthy forex brokers Mauritius. Traders should be careful and sign in with only heavily regulated brokers.

Mauritius Forex Broker	About Our Test	Our Review
eToro	Deposit Amount: Over $6,000 Total Trade: 18 trades	eToro Review
AXI (AxiTrader)	Deposit Amount: Over €6,000 Total Trade: 12 trades	AXI Review
XM	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
Admiral Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
Vantage FX	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
GO Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	GO Markets Review
INFINOX	Deposit Amount: Over €4,000 Total Trade: 9 trades	INFINOX Review
Capital.com	Deposit Amount: Over €3,500 Total Trade: 15 trades	Capital.com Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
Tickmill	Deposit Amount: Over €8,000 Total Trade: 12 trades	Tickmill Review
Trading 212	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review

FAQ and More on Forex Trading in Mauritius

There may occur a lot of questions related to trading in Mauritius. We tried to choose and answer some of the most essential questions related to the forex brokers Mauritius.

How to Verify Mauritius Forex License?

In the country, forex brokers Mauritius are under the regulation of the local regulator – FSC, which is an offshore regulator. However, traders are advised to conduct their trades only with trustworthy forex brokers Mauritius, that hold top-tier regulations.

This means that the safest way of verifying forex brokers Mauritius, is by checking the information on the broker’s website. All the forex brokers provide information about the available and restricted regions on their websites.

Forex Traders in Mauritius

When talking about forex tradings in Mauritius, clients are always recommended to pick a top-tier broker that will provide safety. Especially beginners should choose a heavily regulated broker with a good Demo account. This is the best way of starting trading without much risk.

However, some traders may be attracted by the appealing offerings of offshore brokers. Yet, they should remember that there is no best offshore broker. In case traders decide to open accounts with offshore brokers, it is better to use a reputable brand with multiple regulations. Also, it is better to open a trading account with an international entity based offshore.

Tax in Mauritius for Forex Trading

The government of Mauritius taxes income gained from forex trading. The current rate starts from 10% and can be increased up to 15%, depending on the income amount. Generally, Mauritius residents pay taxes for the income gained in the country. For non-residents, taxes are applicable only for the income gained in the country, from a local source.

However, traders should be very careful when it comes to taxes. They are responsible for submitting forms to the relevant financial institutions in the country. In the case of tax avoidance, traders may face dire consequences.