National Supervisory Authority & Licensing Qualification Dossier • Offshore Financial Centre
FSA
SeychellesFinancial Services Authority Seychelles
Source / Native Reference: 塞舌尔金融服务管理局
- Supervisory tier
- Offshore
- License classes
- 2
- Licensed records
- 123
- Active / regulated
- 49
Statutory Supervisory Mandate & Scope
Financial Services Authority Seychelles (FSA) is the statutory financial regulatory and licensing authority in Seychelles. It oversees international investment dealers, securities brokers, collective investment schemes, and cross-border financial service providers under Seychelles's offshore financial centre framework, enforcing corporate governance, minimum paid-up capital, and Anti-Money Laundering / Counter-Financing of Terrorism (AML/CFT) compliance.
Supervises Securities Investment Business licensees, Virtual Asset Service Providers (VASPs), mutual and private investment funds, captive insurers, and international brokerage entities.
Prudential Tier Assessment
OffshoreRecognised international offshore financial centre supervisor regulating global hedge funds, institutional prime vehicles, digital asset exchanges, and cross-border securities dealers.
National licensing qualifications & statutory authorisation classes (FSA)
Authorisation categories, permitted institutional and retail activities, minimum initial capital adequacy, and ongoing prudential solvency rules enforced by FSA in Seychelles.
| License class / code | Official designation | Permitted institutional & retail activities | Minimum initial / base capital | Ongoing prudential & solvency rule |
|---|---|---|---|---|
| Full Service / Market Maker Securities Dealer | Securities Investment Business / Investment Dealer (Full Service Dealer Including Underwriting) | Acting as principal or market maker in securities, FX, CFDs, and commodities; executing client orders and managing portfolios. | USD $50,000 (Seychelles FSA SD / Vanuatu VFSC Class A–D statutory bond) to MUR 10,000,000 (~USD $220,000 Mauritius Full Service Dealer) or USD $300,000+ (Bahamas SCB / Cayman CIMA / Bermuda BMA). | Maintenance of unimpaired minimum net capital, local physical office and resident directors/MLRO, and Professional Indemnity Insurance. |
| VASP / Digital Asset Business (Class F / DARE) | Virtual Asset Service Provider & Digital Asset Exchange / Custodian Licence | Operating a virtual asset trading platform, digital asset derivatives exchange, custodial wallet service, or token issuance. | USD $100,000 to USD $1,000,000+ risk-based capital depending on custody volume and exchange turnover. | Cybersecurity penetration testing, cold/hot wallet segregation, independent custody audit, and quarterly regulatory filings. |
Investor compensation, client money segregation & digital-asset regime
Statutory counterparty protections, custody reconciliation mandates, and virtual-asset licensing status under FSA.
Contractual Custody & Segregated Trust Accounts (No Statutory Retail Compensation Fund)
- Maximum coverage per client
- EUR €0 / USD $0 statutory government compensation scheme (protection relies on segregated client trust accounts, minimum paid-up capital/bonds, and Professional Indemnity Insurance)
- Eligible counterparties & scope
- Global cross-border retail and institutional clients onboarded outside restricted onshore jurisdictions (US, UK, Japan, Canada typically excluded by terms of business).
CIMA Statement of Guidance on Client Assets / Mauritius Securities Rules / Seychelles Securities (Conduct of Business) Regulations
- Reconciliation & audit cadence
- Mandatory separation of client funds from proprietary operating accounts; periodic reconciliation audited annually.
- Approved custodian requirements
- Client moneys must be held in designated client trust accounts at approved domestic or international commercial banks.
Cayman VASP Act, Bermuda DABA Class F/M & Bahamas DARE Act 2024
- Travel Rule, custody & stablecoin rules
- Full FATF Recommendation 15 & 16 AML/CFT and Travel Rule compliance supervised via annual AML audits.
Primary Governing Statutes & Rulebooks
- Cayman Islands Securities Investment Business Act (SIBA) & Virtual Asset (Service Providers) Act (VASP Act)
- Bermuda Digital Asset Business Act 2018 (DABA) & Investment Business Act 2003
- BVI Securities and Investment Business Act (SIBA) & Bahamas DARE Act 2024
- Mauritius Financial Services Act 2007, Seychelles Securities Act 2007 & Vanuatu Financial Dealers Licensing Act [Cap 70]
Regulatory Reporting & Audit Obligations
Annual audited financial statements prepared under IFRS/US GAAP and submitted within 3 to 6 months of financial year-endMandatory appointment of an approved Anti-Money Laundering Compliance Officer (AMLCO) and Money Laundering Reporting Officer (MLRO)Annual AML/CFT Independent Audit and Economic Substance (ES) annual filing
Cross-Border Equivalence & Passporting
Offshore licences permit international cross-border onboarding where lawful under reverse solicitation, but do not grant automatic onshore passporting into the US, UK, EU, or Japan.
Supervised institutions & FSA licence records in our database
123 licence records referencing FSA (49 regulated/registered, 4 flagged with warnings/revocations).
| Institution | Licence number | Status | Licensed legal entity | Effective date | Verification |
|---|---|---|---|---|---|
| Best Leader | SD084 | Suspected clone | Best Leader International (SYC) Limited | — | |
| FONDEX | SD037 | Suspected clone | TopFX Global Ltd | — | |
| Admiral Markets | SD073 | Offshore | Admirals SC Ltd | — | |
| ThinkMarkets | SD060 | Offshore | TF Global Markets Int Ltd | — | |
| Viverno | SD047 | Regulated | BDS Ltd | — | |
| Axion | SD175 | Offshore | Axion Trade Limited | — | |
| Zenfinex | Number pending check | Regulated | ZENFINEX GLOBAL LIMITED | — | |
| Axia Investments | SD034 | Offshore | Smarttool Trading SC Limited | -- | |
| Orbex Limited | Number pending check | Regulated | Orbex Limited | — | |
| Fivehills | SD059 | Suspected clone | FIVEBATS SECURITIES LIMITED | — | |
| Securcap | SD012 | Suspected clone | Securcap Securities Limited | — | |
| OKX | Number pending check | Regulated | Aux Cayes Fintech Co Ltd | — | |
| Doo Prime | SD090 | Regulated | Doo Prime (Seychelles) Limited | 2021-11-03 | |
| Equiti | SD064 | Offshore | Equiti Brokerage (Seychelles) Limited | -- | |
| Exness | SD025 | Offshore | Exness (SC) Ltd | — | |
| Tickmill | SD008 | Regulated | Tickmill Ltd | — | |
| FXGT.com | SD019 | Regulated | GT Global Ltd | — | |
| M4Markets | SD035 | Regulated | Trinota Markets (Global) Limited | — | |
| BAXIA MARKETS | SD104 | Offshore | Baxia Global Ltd | — | |
| JustMarkets | SD088 | Offshore | Just Global Markets Ltd | — | |
| Taurex | SD092 | Offshore | Zenfinex Global Limited | — | |
| XS | SD089 | Regulated | XS LTD | — | |
| 77markets | SD007 | Offshore | Leadcapital Corp Ltd | — | |
| Capitalix | SD052 | Offshore | 4 Square SY Limited | — | |
| Evalanch | SD082 | Regulated | Evalanch Ltd | 2001 | |
| FinPros | SD087 | Offshore | FinPros Financial Ltd | — | |
| eToro(Global network record) | SD076 | Regulated | eToro (Seychelles) Ltd | — | |
| GLOBAL(Global network record) | SD 192 | Regulated | B2B Prime Services SC Ltd | 2024 | |
| AETOS(Global network record) | SD206 | Regulated | AETOS Markets (Seychelles) Ltd | — | |
| capital.com(Global network record) | SD101 | Offshore | Capital Com Stock and CFD Investing Ltd | — | |
| easyMarkets(Global network record) | SD056 | Offshore | EF Worldwide Ltd | — | |
| EC Markets(Global network record) | SD009 | Offshore | EC Markets Limited | — | |
| Trade Nation(Global network record) | SD150 | Regulated | TRADE NATION FINANCIAL MARKETS LIMITED | — | |
| GVD Markets(Global network record) | SD210 | Regulated | GVD Prime Capital Limited | — | |
| Hantec Markets Australia(Global network record) | SD164 | Regulated | Hantec (Seychelles) Services Limited | — | |
| HFM(Global network record) | SD015 | Offshore | HF Markets (Seychelles) Ltd | -- | |
| Squared Financial(Global network record) | SD024 | Offshore | Squared Financial (Seychelles) Ltd | — | |
| Windsor Brokers(Global network record) | SD072 | Offshore | Windsor Brokers International Ltd | — | |
| WisunoFX(Global network record) | SD178 | Offshore | WISUNO LIMITED | — | |
| Alvexo(Global network record) | SD030 | Offshore | HSN Capital Group Ltd | — | |
| CFI International Ltd(Global network record) | SD107 | Regulated | Credit Financier Invest International Limited | — | |
| FMGP(Global network record) | SD096 | Offshore | Fusion Markets International Ltd | — | |
| FXORO(Global network record) | SD046 | Regulated | ORO FINTECH LIMITED | — | |
| Global Prime(Global network record) | SD057 | Offshore | Global Prime FX Ltd | 2017-01-27 | |
| GO MARKETS(Global network record) | SD043 | Offshore | Go Markets International Ltd | — | |
| Interstellar Group(Global network record) | SD127 | Regulated | First Interstellar Global Ltd | 2022-08-08 | |
| OnEquity(Global network record) | SD154 | Regulated | OnEquity Ltd | — | |
| Scope Markets(Global network record) | SD079 | Offshore | Scope Markets Global Ltd | — | |
| STARTRADER(Global network record) | SD049 | Offshore | STARTRADER LIMITED | — | |
| The(Global network record) | SD127 | Offshore | First Interstellar Global Ltd | — | |
| Tradu(Global network record) | SD147 | Offshore | Stratos Systems Limited | — | |
| 4T(Global network record) | SD058 | Offshore | 4T Limited | — | |
| BlackBull(Global network record) | SD045 | Offshore | BBG Limited | — | |
| Dbinvesting(Global network record) | SD053 | Offshore | DB Invest LIMITED | — | |
| doto(Global network record) | SD0063 | Offshore | Doto International Ltd | — | |
| Errante(Global network record) | SD038 | Offshore | Errante Securities (Seychelles) Limited | — | |
| ETO Markets(Global network record) | S062 | Offshore | ETO Markets Limited | — | |
| Moneta Markets(Global network record) | SD144 | Regulated | Moneta Markets Ltd | 2024-01-08 | |
| Oqtima(Global network record) | SD109 | Regulated | CDE Global Markets Ltd | — | |
| Pipbull Ltd(Global network record) | Number pending check | Regulated | Tixee | — | |
| PU Prime(Global network record) | SD050 | Offshore | PU Prime Limited | — | |
| Purple Trading(Global network record) | SD041 | Regulated | AXSE Brokerage Ltd | — | |
| Skilling(Global network record) | SD042 | Regulated | Skilling (Seychelles) Limited | — | |
| Swiss Markets(Global network record) | SD047 | Regulated | BDSwiss(Seychelles)Ltd | — | |
| Titan FX(Global network record) | SD138 | Regulated | Goliath Trading Limited | — | |
| Trust(Global network record) | SD122 | Offshore | Trust Capital Ltd | -- | |
| Valutrades(Global network record) | SD028 | Offshore | Valutrades (Seychelles) Limited | — | |
| ZFX(Global network record) | SD027 | Regulated | zeal capital market (seychelles) limited | — | |
| 10TradeFx(Global network record) | Number pending check | Cancelled | Holiway Global_ | — | |
| 4Square(Global network record) | SD052 | Offshore | 4Square SY Ltd. | -- | |
| ACG Markets(Global network record) | SD182 | Offshore | ACG MARKETS LTD | -- | |
| Aerarium(Global network record) | SD036 | Offshore | Aerarium Limited | — | |
| Afterprime(Global network record) | SD057 | Offshore | Afterprime Ltd | — | |
| ArgoTrade(Global network record) | SD007 | Regulated | Leadcapital Corp Ltd | — | |
| ATG(Global network record) | SD054 | Offshore | ATG WORLD MARKETS LIMITED | — | |
| ATG World(Global network record) | SD054 | Offshore | ATG WORLD MARKETS LIMITED | — | |
| ATM Capital(Global network record) | SD082 | Offshore | Evalanch Ltd | -- | |
| Axon(Global network record) | SD115 | Offshore | Axon Markets Ltd | -- | |
| Bullwaves(Global network record) | SD185 | Regulated | Equitex Capital Limited | — | |
| ClickTrades(Global network record) | SD020 | Offshore | KW Investments Ltd | — |
FSA (Seychelles): institutional licensing & due diligence FAQ
Key statutory capital, compensation, custody segregation, and verification answers for compliance teams.
What are the primary licensing classes and minimum capital requirements under FSA (Seychelles)?
FSA (Financial Services Authority Seychelles) supervises financial institutions in Seychelles under Cayman Islands Securities Investment Business Act (SIBA) & Virtual Asset (Service Providers) Act (VASP Act) and Bermuda Digital Asset Business Act 2018 (DABA) & Investment Business Act 2003. Key statutory authorisation classes include: Full Service / Market Maker Securities Dealer (Securities Investment Business / Investment Dealer (Full Service Dealer Including Underwriting) — min. capital: USD $50,000 (Seychelles FSA SD / Vanuatu VFSC Class A–D statutory bond) to MUR 10,000,000 (~USD $220,000 Mauritius Full Service Dealer) or USD $300,000+ (Bahamas SCB / Cayman CIMA / Bermuda BMA).); VASP / Digital Asset Business (Class F / DARE) (Virtual Asset Service Provider & Digital Asset Exchange / Custodian Licence — min. capital: USD $100,000 to USD $1,000,000+ risk-based capital depending on custody volume and exchange turnover.). Ongoing prudential supervision requires strict adherence to capital adequacy and liquidity buffers.
Does FSA provide statutory investor compensation and mandatory client asset segregation?
Under FSA's framework, investor protection is governed by Contractual Custody & Segregated Trust Accounts (No Statutory Retail Compensation Fund) with maximum coverage of EUR €0 / USD $0 statutory government compensation scheme (protection relies on segregated client trust accounts, minimum paid-up capital/bonds, and Professional Indemnity Insurance) (Global cross-border retail and institutional clients onboarded outside restricted onshore jurisdictions (US, UK, Japan, Canada typically excluded by terms of business).). For client money and custody assets, supervised firms must comply with CIMA Statement of Guidance on Client Assets / Mauritius Securities Rules / Seychelles Securities (Conduct of Business) Regulations, performing mandatory separation of client funds from proprietary operating accounts; periodic reconciliation audited annually. with client moneys must be held in designated client trust accounts at approved domestic or international commercial banks..
How does FSA regulate digital assets, crypto exchanges (VASPs/CASPs), and stablecoins?
FSA's digital-asset regime is structured around Cayman VASP Act, Bermuda DABA Class F/M & Bahamas DARE Act 2024 (Dedicated statutory digital asset licensing regimes used by top global institutional crypto derivatives exchanges, custodians, and tokenized funds.). Custody and AML/CFT compliance obligations require: Full FATF Recommendation 15 & 16 AML/CFT and Travel Rule compliance supervised via annual AML audits.
How can I verify an institution's FSA licence number and check our 123 recorded licence entries?
Our database currently tracks 123 licence records referencing FSA (49 marked regulated or registered). To verify a counterparty at the primary source, open FSA's official public register (https://fsaseychelles.sc/regulated-entities), search by the exact reference number and legal entity name, and confirm that the firm's domain and permitted activities match its statutory authorisation.
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Statutory licensing classes, base capital rules, and investor protection summaries for FSA (Seychelles) are maintained for institutional benchmarking and do not constitute legal advice. Always verify current rulebooks and active firm authorisations directly on FSA’s official public register.