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.
- FP Markets, ECN trading with leverage up to 1:500.
- Eightcap, Competitive pricing + excellent daily videos.
- Octa, A commission-free broker with a proprietary copy trading service.
- XM, Exception range of assets + negative balance protection.
- Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.
Best Mauritius Brokers Comparison
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Regulators | ASIC, CMA, CySEC, FSCA | ASIC, CySEC, FCA, SCB | CySEC, FSCA, MWALI International Services Authority | ASIC, CySEC, DFSA, FSC Belize | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Year Established | 2005 | 2009 | 2011 | 2009 | 2010 |
Execution Type(s) | ECN/STP | ECN/STP, Market Maker | Market Maker | Market Maker | No Dealing Desk, NDD |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 1.2 pips | 1.0 pips | 0.9 pips | 0.1 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.4 pips | 1.2 pips | 1.3 pips | 0.2 pips | 1.4 pips |
Average Trading Cost Gold | $0.16 | $0.12 | $0.30 | $0.19 | $0.15 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, Proprietary platform | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ |
Islamic Account | |||||
Negative Balance Protection | N/A | N/A | |||
| Visit Website | Visit Website | Visit Website | Visit Website | Get Started Visit Website75-95% of traders on margin lose |
FP Markets
In Summary ECN trading with leverage up to 1:500I rank FP Markets among the best Forex brokers in Mauritius, as traders receive a well-balanced asset selection, including cryptocurrencies, ETFs, and bonds, and low-cost, commission-based trading fees featuring raw spreads from 0.0 pips for a commission of $6.00 per 1.0 lot. FP Markets also maintains an excellent choice of payment processors, including cryptocurrencies, with a reasonable $100 minimum deposit.
Copy traders can use the embedded services in MT4/MT5/cTrader, fee-based Signal Start, well-known Myfxbook Autotrade, and the in-house FP Markets Copy Trading service. VPS hosting ensures 24/5 low latency algorithmic Forex trading and MAM/PAMM accounts enable traditional account management.
Pros & Cons
- Choice of trading platforms and auxiliary trading tools
- Very competitive cost structure and excellent asset selection
- Low minimum deposit requirement and leverage of up to 1:500
- Well-regulated and trustworthy
- Availability of Iress geographically restricted
Eightcap
In Summary Competitive pricing + excellent daily videosEightcap established itself among the best Forex brokers due to its superb trading infrastructure, excellent order execution amid deep liquidity, competitive fees, and cutting-edge trading tools. Manual traders get a well-designed AI-powered economic calendar, and Eightcap upgrades MT4 via Capitalise AI, which enables algorithmic trading in a code-free environment. MT5 traders benefit from Flash Trader, while the dedicated cryptocurrency solution Crypto Crusher caters to cryptocurrency traders.
Copy traders get the embedded MT4/MT5 services, and Eightcap connects social traders to the active TradingView community. Beginner traders get an outstanding educational and research offering via Eightcap Labs and Eightcap Trade Zone.
Pros & Cons
- Low minimum deposit and high leverage of up to 1:500
- Competitive cost structure
- Excellent technology infrastructure and seasoned management team
- Daily research and quality educational content
- Limited leverage in some areas
Octa
In Summary A commission-free broker with a proprietary copy trading serviceFounded in 2011, Octa is a “Straight Through Processing” (STP) broker, which means they do not have an internal dealing desk. They simply connect buyers and sellers directly. With this model, Octa aims to be more cost-effective than anyone else in the market. They offer low spreads and claim 97.5% of trades are executed without slippage.
Octa offers their clients a choice of three Forex trading platforms: the world’s most popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). All of these can be traded as a desktop application, and on Android and iOS devices.
Octa is an unregulated broker but continues to earn the trust of traders around the globe, with more than 1,500,000 accounts opened. One reason for the ongoing success of this market maker is appealing bonus campaigns. This broker paid out almost $3,000,000 in bonus funds. Octa offers traders the MT4 and MT5 platforms, and a proprietary mobile trading platform. Octa additionally grants their clients Autochartist, but traders require a Silver Level in the Status Program. Traders have a choice between fixed and floating spreads, and the overall cost structure remains competitive.
Asset selection remains the distinct weakness at Octa, making it most suitable for new retail traders. A series of short educational articles offers a basic Forex introduction, and this broker maintains an excellent arsenal of research and analytics tools.
Pros & Cons
- Quick withdrawals and deposits
- 0% commission and no overnight charges
- Space with personalised trading ideas
- Customer Support 24/7
- Mobile copy trading services available only for Android
XM
In Summary Exception range of assets + negative balance protectionI rank XM among the best Forex brokers for beginners as it provides exceptional education, with the live education room available Monday through Friday between 06:00 and 15:00 GMT at its core. Beginners also receive actionable trading recommendations, and the $5 minimum deposit ensures accessibility to all traders, boosted by deposit bonuses.
XM rewards active traders with a four-tier loyalty program and supports algorithmic traders with VPS hosting. The well-balanced asset selection exceeds 1,000 assets, and the proprietary copy trading service pays signal providers up to 50% profit share. Swap-free trading and low trading fees ensure a competitive edge.
Pros & Cons
- Outstanding trading tools and loyalty program
- Low minimum deposit, high leverage*, and competitive trading cost
- Excellent research and education
- Trustworthy and transparent with generous bonuses and incentives
- Inactivity fee
Pepperstone
In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platformPepperstone maintains a well-balanced asset selection of 1,500+ assets, including Forex, Forex indices, cryptocurrencies, and ETFs. Deep liquidity pools result in NDD execution with ultra-fast average execution speeds of 30 milliseconds, while VPS hosting ensures 24/5 low-latency Forex trading. Commission-based fees feature raw spreads from 0.0 pips for a commission between $6.00 and $7.00 per 1.0 standard round lot, depending on the trading platform, with a volume-based rebate program.
The most significant edge at Pepperstone is the availability of Capitalise AI, which enables algorithmic trading in a code-free environment, placing Pepperstone highly within this best Forex brokers in Mauritius listing.
Pros & Cons
- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
- Leverage of up to 1:400 depends on jurisdiction and superb trade execution
- Demo accounts have 60-day time limits
Forex Trading in Mauritius
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.
2. Traders should first master trading psychology.
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.
