Financial Services Commission (Mauritius) (FSC Mauritius)
OffshoreA mid-to-offshore licence used by many internationally focused brokers.
Is FSC Mauritius regulation safe? Quick verdict
Short answer: an FSC Mauritius licence offers weak protection. Financial Services Commission (Mauritius) (Mauritius) is an offshore registry — oversight is light, there is no meaningful investor-compensation scheme, and brokers can offer extreme leverage. Compared with a tier-one authority like the UK's FCA or Germany's BaFin, an FSC Mauritius-only broker is a serious caution sign. Many genuine brokers run an FSC Mauritius entity for international clients, but you should never keep large balances under an offshore licence alone.
How to check a broker's FSC Mauritius licence
The single best defence against a fake FSC Mauritius broker is a 60-second register check. Do this before you deposit:
- 1Find the broker's licence/registration number — it is usually in the website footer or "Legal" / "About" page, alongside the legal entity name.
- 2Open the official FSC Mauritius register at https://www.fscmauritius.org/en/supervision/list-of-licensees and search that number (or the company name) directly — never click a "regulated by FSC Mauritius" badge on the broker's own site.
- 3Confirm the name, website and status on the register match the broker you are about to fund. If the entity is flagged, expired, or the domain doesn't match, walk away.
4 protections an FSC Mauritius licence gives retail traders
Here is what FSC Mauritius regulation actually means for your money — the parts that matter when something goes wrong:
Segregated client funds
Reputable FSC Mauritius brokers say they segregate client money from company funds, but offshore enforcement of this is weak. There is rarely independent auditing, so segregation depends largely on the broker's own honesty.
Investor compensation
There is no statutory investor-compensation scheme under FSC Mauritius. If the broker becomes insolvent and client money is missing, there is no government-backed fund to reimburse you — a major difference versus the FCA (£85,000) or CySEC (€20,000). This alone is a reason not to keep large balances here.
Negative balance protection
Negative balance protection is not guaranteed under FSC Mauritius. Some brokers offer it voluntarily, but without a regulatory mandate a gap move could in theory leave you owing more than you deposited. Check the broker's specific terms.
Leverage capped at High (up to 1:500+)
FSC Mauritius caps retail leverage at High (up to 1:500+) on major currency pairs (and lower on volatile assets such as minor pairs, indices and crypto). This is a deliberate brake on risk. It is also a useful tell: any "FSC Mauritius-regulated" broker advertising 1:500 leverage to retail EU clients is lying about its licence.
FSC Mauritius-regulated brokers we track
Hover a broker to see the share of retail accounts that lose money. CFDs are high-risk.
Typical FSC Mauritius scams to watch for
An FSC Mauritius badge is exactly what fraudsters imitate. These are the patterns we see most often:
⚠The clone-broker trick
Fraudsters copy the real licence number and legal name of a clean FSC Mauritius broker, then build a near-identical website on a slightly different domain. The licence "checks out" — but it belongs to the legitimate firm, not the clone. Always confirm the exact website/domain on the FSC Mauritius register, not just the number.
⚠Too-good-to-be-true offers
Promises of guaranteed profits, "risk-free" trades, account managers who trade for you, or pressure to deposit more to "unlock" withdrawals are classic fraud patterns. A real FSC Mauritius broker does not guarantee returns or manage your money for you.
⚠An "offshore-but-respectable" front
Some operators lean on an FSC Mauritius registration to look established while doing none of the things a tier-one broker must do. An FSC Mauritius number is not equivalent to FCA or BaFin oversight — verify what the entity is actually authorised to do, and be wary if FSC Mauritius is the only licence on offer.
Verdict: should you trust an FSC Mauritius broker?
An FSC Mauritius licence on its own is not enough for money you can't afford to lose. Treat it as a flag to dig deeper: who really holds your funds, is there any tier-one licence behind the brand, and how do withdrawals actually work?
Of the brokers we track, 8 list an FSC Mauritius licence — see them below, and read the full review before depositing.
Frequently asked questions
Is FSC Mauritius regulation safe?+
An FSC Mauritius licence offers limited protection. It is a legitimate registration, but oversight, compensation and leverage rules are far weaker than under the FCA, BaFin or CySEC. It should not be a broker's only licence if you are depositing meaningful money.
How do I check a broker's FSC Mauritius licence?+
Find the broker's licence number on its website, then search it on the official FSC Mauritius register (https://www.fscmauritius.org/en/supervision/list-of-licensees). Confirm the company name, website and "authorised" status all match. Never rely on a badge or a link supplied by the broker itself.
What happens if a FSC Mauritius broker goes bankrupt?+
Client money should be segregated and returned to you, but FSC Mauritius has no statutory compensation fund. If client money is missing, there is no government-backed scheme to reimburse you — one reason to keep balances modest under this regulator.
Why is leverage limited to High (up to 1:500+)?+
FSC Mauritius caps retail leverage at High (up to 1:500+) on major pairs to stop small accounts being wiped out by normal market moves. It is a protection, not a restriction to work around — and any "FSC Mauritius" broker offering far higher leverage to retail clients is misrepresenting its licence.