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.
- FXTM, Best all-around broker with high floating leverage and fast execution.
- Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.
- FP Markets, ECN trading with leverage up to 1:500.
- Eightcap, Competitive pricing + excellent daily videos.
Best Mauritius Brokers Comparison
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Regulators | CMA, CySEC, FCA, FSC Mauritius, FSCA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | ASIC, CMA, CySEC, FSCA | ASIC, CySEC, FCA, SCB |
Year Established | 2011 | 2010 | 2005 | 2009 |
Execution Type(s) | ECN/STP, Market Maker | No Dealing Desk, NDD | ECN/STP | ECN/STP, Market Maker |
Minimum Deposit | ||||
Average Trading Cost EUR/USD | 0.1 pips | 1.1 pips | 1.2 pips | 1.0 pips |
Average Trading Cost GBP/USD | 0.2 pips | 1.4 pips | 1.4 pips | 1.2 pips |
Average Trading Cost Gold | $0.18 | $0.15 | $0.16 | $0.12 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | MetaTrader 4, MetaTrader 5, Trading View |
Islamic Account | ||||
Negative Balance Protection | N/A | N/A | ||
| Visit Website | Get Started Visit Website75-95% of traders on margin lose | Visit Website | Visit Website |
FXTM
In Summary Best all-around broker with high floating leverage and fast executionFXTM 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. FXTM also offers a selection of payment processors, including localized methods for its core markets.
Pros & Cons
- 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
- A highly regulated broker with a tier-1 license
- No cryptocurrencies and limited choice of commodities
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
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
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.
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