Belize's best FX brokers and the ways to find them

Contents

1 What are the best Forex brokers in Belize?
2 What is IFSC and how does it work?
3 What are the regulations of Forex brokers in Belize?
4 What is the national currency of Belize?
5 While trading Forex in Belize, what are the trading Softwares that you will come across?
6 Is Belize the right choice for Forex trading?

Belize is a country with under a half-million population in Central America. Even though the country is in Latin America, the speaking language of the country is English. Because of that, it is very comfortable for business around the world, it is also home to one of the best-known regulators, the International Financial Services Commission, IFSC. This agency is responsible for handling the filed of Forex in the country. There are a number of Forex brokers in Belize, each of them offering diverse opportunities to Forex traders.

The country is considered to be one of the most popular places for Forex trading around the world because of the business-friendly taxes and regulations, also, traders have access to higher leverage than in most of the countries.

What are the best Forex brokers in Belize?

Since there are so many active and legit Forex brokers in the country, it is not an easy thing to find the best one. However, we have done the research and considered everything that makes a broker the best one. You can access our list below.

Our Top Rated Broker

Licences

FCA, CySEC, IFSC, ASIC, DFSA

Min. depo

Leverage

1:888

Platform

MT4, MT5, WebTrader

XM

AvaTrade Review – Broker of choice since 2005

Licences

ASIC, FSA, FSCA, FFAJ, FSRA, FSC

Min. depo

100 USD

Leverage

400:1

Platform

MT4, MT5

AvaTrade

Exness Forex broker review – Everything it has to offer

Licences

CySEC, FCA, SFSA

Min. depo

$10

Leverage

1:2000

Platform

MT4, MT5

Exness

What is IFSC and how does it work?

IFSC, the International Financial Services Commission, is the main regulatory body in Belize that takes care of the field of Forex. Every participant of the market needs to have authorization from the company, it is also responsible to set and enforce financial market regulations. Among these, IFSC is in charge of:

The company works very hard to ensure the status of the country worldwide
It regulates and controls financial services in the country
IFSC also imposes disciplinary penalties and other sanctions on any company that fails to follow the rules that are in place

What are the regulations of Forex brokers in Belize?

Every requirement for Forex brokers in the country is set out by IFSC, it makes sure that every single one of them meets and maintains the requirements. Every year, the IFSC checks the companies and decides if they should or should not receive licenses again.

As a Forex broker, you will have to follow several rules that are in place. For example, the minimum capital that the company should have is $500,000. Brokers should work to keep the funds of their clients segregated, they should also follow international standards of AML and KYC rules. Brokers in Belize are required to issue monthly statements to clients, and submit monthly reports to the IFSC.

How to tell if a broker is really regulated by IFSC or not?

Every year, the company updates a lits of licensed service providers and it is very easily accessible for everyone on the official website of the company. If you are unable to find the list, simply contact the representatives of the company and they will provide you with the information that you need.

It is very important to always trade with regulated brokers since this is the only guarantee for your funds to be safe. Forex is already very risky business, so this feeling of safety is very important for many Forex traders.

What is the national currency of Belize?

The official currency of the country is the Belize Dollar, with official currency code BZD. 2 BZD equals 1 USD, and even though it is not that popular among many traders, as someone who is from Belize, you still need to look for the broker that offers payments in this currency.

There are many reasons for that, for example, if you find the Forex broker that accepts Belize dollar, you will not have to spend that much money on exchanging it. There are a number of brokers that accept this currency.

While trading Forex in Belize, what are the trading Softwares that you will come across?

There are a number of Forex brokers that offer services in Belize and every single one of them is very unique. However, most of them use MetaTrader4 as a trading platform. This software is very popular around the world, it was established in 2005 by a Russian company called MetaQuotes.

It offers traders huge access to the trading market, with the ability to trade dozens of different currencies. Most of the brokers around the world will offer you this software because of many reasons. One of the top reasons is that it is very simple to use, you can use it both on the internet browser directly and as a downloadable version. In addition, it has a mobile phone version, which makes sure that you can stay in touch with the trading market no matter where you are.

MT5 is a newer version of MT4, offers advancements on some of the tools. In recent years, these platforms became even more popular by gathering a huge following, which ensures that no matter what type of issue you have, you will be able to find someone who can help you in no time.

Other than these, there are also many brokers who have special Softwares created for them. You can find a number of Belizian Forex brokers that have their own Softwares.

We have already talked about the importance of trading software, but what are the best brokers in this regard? We worked very hard to try ou tall of these brokers and finally were able to find the ones that have the best trading platforms. Below, you can see the list that we ended up with.

XM

Min. Depo

Licences

FCA, CySEC, IFSC, ASIC, DFSA

Leverage

1:888

Platforms

MT4, MT5, WebTrader

AvaTrade

Min. Depo

100 USD

Licences

ASIC, FSA, FSCA, FFAJ, FSRA, FSC

Leverage

400:1

Platforms

MT4, MT5

Min. Depo

Licences

FSA, FSCA

Leverage

1:1000

Platforms

MT5,

Plus500

Min. Depo

$100

Licences

FCA, ASIC, CySEC, FSCA, FMA, MAS

Leverage

1:30

Platforms

WebTrader, Windows 10 Trader

Is Belize the right choice for Forex trading?

Even though there have been a lot of controversies in the past about the country and the whole region as well, in recent years, things have changed a lot. Belize has been considered to be a ‘tax haven’ for many years, and thanks to the regulations that are in place, Forex trading is considered to be fairly safe. As of today, money laundering is a huge problem around the world, and Belize, with its international partners, is working very hard to fight against it.

Belize is a member of the Caribbean Financial Action Task Force, with fights against money laundering very actively. Also, the country has signed a Tax Information Exchange Agreements with 100 other countries, and it also complies with the United States Foreign Account Tax Compliance Act.

Because of this and many other reasons, Belize is considered to be one of the most popular countries for Forex trading around the world. As time goes by, Forex trading in Belize is becoming even more popular, and more and more people are starting Forex trading in the country.