3 Best Mauritius Forex Brokers - Forex Trading in Mauritius [year,month]
Best Forex Brokers in Mauritius
Affiliate Disclosure
Affiliate DisclosureDailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.
Christopher Lewis
Trading with Mauritius Forex brokers can result in a highly competitive trading environment overseen by a trusted regulator. I have reviewed Mauritius Forex brokers and Forex trading in Mauritius, including a guide on getting started, and an explanation of the risks of trading Forex in Mauritius. Read on to find out more about trading Forex with Mauritius Forex brokers.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Ultra-low trading fees in the Pro account with commission-free spreads from 0.1 pips
Instant 24/7 withdrawals & choice of payment processors, including cryptocurrencies
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Quality education and research for beginners, including actionable trading signals
High-paying affiliate program, refer-a-friend program, promotions, and contests
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Transparent cost structure, including swap rates & fast order execution (0.03 secs/avg)
Choice of payment processors & Orbex Prepaid Card (for qualifying traders)
Exness developed its proprietary web-based Exness Terminal and user-friendly mobile app Exness Trade App, ideal for its Exness copy trading service. Algorithmic and copy traders may also use MT4/MT5. Exness maintains one of the broadest asset selections for Forex traders, with 100+ currency pairs, complemented by its choice of cryptocurrency pairs.
With monthly trading volumes exceeding $3.3 trillion from over 500M traders and $1.3+ billion in quarterly client withdrawals, Exness ranks among the most-established Mauritius Forex brokers. Exness is a well-regulated broker and a Hong Kong-based Financial Commission member, which publishes transparent financial reports reviewed and verified by Deloitte.
Pros
Excellent
24/7 multi-lingual customer service
Multi-regulated
broker with excellent order and volume statistics
High
level of transparency and financial audits by Big Four accountancy Deloitte
Instant
withdrawals from a trusted broker with numerous payment processors
Best all-around broker with high floating leverage and fast execution
FXTM is one of the most competitive Mauritius Forex brokers due to its ultra-low pricing environment. Traders benefit from raw spreads of 0.0 pips for a commission of $0.80 and $4.00 per 1.0 standard round lot. The price improvement technology lowers costs by an average of 0.3 pips or $3.00 per round lot. FXTM offers the MT4/MT5 trading platforms and its Pivot Point Strategy MT4 plugin.
Mobile traders get the user-friendly FXTM Trader, an excellent choice for copy traders who want to use FXTM Invest. FXTM also offers a selection of payment processors, including localized methods for its core markets.
Pros
Excellent commission-based Forex pricing environment and transparency
Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
Quality market research and educational content for beginner traders
Proprietary copy trading platform, low minimum deposit, and high leverage
Cons
No cryptocurrencies and limited choice of
commodities
Orbex established itself among the Mauritius Forex brokers with the most competitive trading infrastructure. Traders get the MT4/MT5 trading platforms upgraded by Trading Central. Mobile traders can use the user-friendly Orbex Mobile app. Free VPS hosting supports algorithmic traders requiring low-latency 24/5 market access, and Orbex also offers the FIX API for advanced trading solutions.
Beginner traders get quality and well-structured education in written format and as short videos. Orbex also employs a five-member in-house research team that publishes reports daily. PAMM accounts cater to traditional fund management services, and Orbex developed custom trading solutions for select core markets.
Pros
High
leverage and deep liquidity for demanding traders
Quality
research and education for beginner traders
PAMM
module for account management services
Swap-free
accounts, free VPS hosting, and NND execution
Forex trading in Mauritius is legal and tax-free, while Mauritius Forex brokers present an ideal mix of trusted regulation with a business-friendly approach. Mauritius is home to leading Forex brokers, which is attractive for international and domestic Forex traders. Mauritius is a high-income economy and ranks among the most competitive and developed African economies, reflected in its Forex trading environment and local demand.
Forex Regulations in Mauritius
Mauritius Forex brokers operate under the oversight of the Financial Services Commission (FSC). It is a trusted and capable regulator, allowing Mauritius Forex brokers to onboard traders with minimal data collection and in compliance with global AML/KYC regulations.
The segregation of client deposits and negative balance protection for retail traders is mandatory at all Mauritius Forex brokers. There are no restrictions on Mauritius Forex brokers from accepting international traders, and Mauritius Forex brokers rank among the safest and most trusted brokers.
Choosing the Right Forex Broker in Mauritius
Evaluating Mauritius Forex brokers is necessary for traders to ensure they can trade in a competitive trading environment.
The best Mauritius Forex brokers should satisfy the following requirements:
Regulation - Traders should seek a Forex broker with a clean operational record, ideally of 10+ years.
Low trading fees - Trading fees are the most essential factor for traders. A competitive cost structure ensures major currency pairs do not exceed 0.8 pips or $8.00 per 1.0 lot. Swap rates can be equally important for longer-term traders. It is a good sign if a broker offers some positive swap rates on certain currency pairs.
Trading platforms - 80%+ of Forex trading volumes are algorithmic, making an algorithmic trading platform desirable for many.
Asset diversity - Mauritius Forex brokers should offer the necessary range of assets for traders to execute their strategy.
Deposits/Withdrawals - Traders should evaluate the choice of payment processors and find low to zero minimums to guarantee the flexibility to manage their portfolios and follow-on transactions.
How to Start Trading Forex in Mauritius
Beginners should consider the below tips to minimize avoidable mistakes and shorten their learning curve.
Here are tips on how to start trading with Mauritius Forex brokers:
1. In-depth education is paramount to successful trading.
3. Understanding the importance of leverage and its relationship to risk management.
4. Risk management is equally as important as trading strategy.
5. Leverage is an excellent tool, but only if traders understand how to use it.
6. Traders must define a suitable trading strategy and execute it properly.
7. Successful traders understand the significance of trading costs.
8. Realistic expectations are necessary to avoid trading errors.
9. Proper placement of take profit and stop loss levels (placing them with each order ticket represents the only instance where traders act emotionless).
Forex Trading Platforms in Mauritius
Mauritius Forex brokers, with few exceptions, provide traders with the industry-leading trading platform MT4. It is the most versatile trading platform with 25,000+ custom indicators, templates, and EAs. It fully supports algorithmic trading, including API trading for the most advanced trading solutions, plus machine learning and AI-based alternatives. Capitalise AI, which allows code-free algorithmic trading, is MT4 compatible.
Other trading platforms consist of MT5 and cTrader, which perform similar core functions with an improved user interface, but fewer add-ons and customizations, which makes a tremendous difference. Some Mauritius Forex brokers have developed proprietary alternatives ideal for manual, mobile, and copy traders.
Forex Payment Methods in Mauritius
Mauritius Forex brokers implement modern and low-cost payment processors alongside bank wires and credit/debit cards to ensure traders have the freedom to manage their portfolios.
Non-banking Forex payment methods widely offered in Mauritius include:
Skrill
China UnionPay
Cryptocurrencies
Perfect Money
WebMoney
PayPal
Neteller
Bolero
Localized payment apps and services for their core markets, primarily Asian, African, and Latin American solutions
Risks of Forex Trading in Mauritius
Mauritius Forex brokers offer a competitive and secure trading environment, but traders must consider the risks of Forex trading before processing.
Here are the most notable risks of Forex trading in Mauritius:
Amid the absence of quality education, despite its availability, traders can get a fundamental misunderstanding of Forex trading, its requirements, and possibilities.
Overtrading, frustration, and inefficient trading due to insufficient trading capital and unrealistic expectations
Lack of adequate risk management may result in avoidable leveraged trading losses.
Questionable Forex brokers and affiliates promote unrealistic trading performances
Scams and fraud trap uneducated beginners who rushed into Forex trading
The disrespect of Forex trading as a high-skilled profession leads to wrong trading mentalities
Inadequate hardware, no quiet place to trade, or using mobile apps for Forex trading rather than Forex copying yields sub-standard trading conditions
Uncompetitive trading circumstances for manual trading as 80%+ of Forex transactions are algorithmic.
Beginners who rely on demo accounts as an educational tool achieve a false sense of accomplishment, as demo trading lacks exposure to trading psychology
Bottom Line
Mauritius Forex brokers established themselves among the most trusted, secure, and competitive Forex brokers globally. Traders get a cutting-edge trading infrastructure with high-quality trading tools, including support for advanced algorithmic trading solutions. Beginners benefit from good education and research, and trading fees among some Mauritius Forex brokers belong to the cheapest ones available.
Mauritius Forex brokers deploy a competitive mix of quality regulation and trader-friendly conditions.
FAQs
Which Forex trading platform is best in Mauritius?
MT4 is the best Forex trading platform in Mauritius and industry-wide.
Can you trade Forex in Mauritius?
Yes, Forex trading is legal in Mauritius, and Mauritius Forex brokers maintain a well-known, trustworthy, and competitive trading environment.
How much is a Forex license in Mauritius?
There is a one-off regulatory fee of €30,000 or Rs 1,000,000 (Mauritian Rupee). Capital requirements will differ, but an office in Mauritius and €30,000 or Rs 1,000,000 in a local bank are additional requirements. Some sources claim a Forex license in Mauritius can cost up to $70,000. Interested parties must consult a licensed professional before proceeding. Costs will vary dependent on the required services.
Who is the number one broker in Mauritius?
No data exists to confirm this, and it really depends on individual preferences.
Is Forex taxable in Mauritius?
Mauritius does not have a capital gains tax, and revenues from the sale of securities remain tax-exempt. Therefore, it seems that Forex trading income is tax-free in Mauritius. Forex traders must consult with a licensed professional to confirm their tax obligations and for assistance with tax-related matters.
Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.
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