The Belize financial regulator, the International Financial Services Commission (IFSC), has granted license to forex broker Arvis Capital Ltd., trading as Arvis FX, according to data published on the regulator’s website.
The IFSC has included the broker in a list of financial service providers registered and regulated in the country. With its addition, the list comprises of 99 regulated entities that provide trading in securities.
Arvis FX was set up in 2013 and is based Belize. It offers white-label forex solutions to other brokers, which allow them to offer forex trading under their own brand. Arvis FX allows forex trading and spread betting in nearly 200 currency pairs, as well as binary option on 15 forex pairs.
The broker provides no trading conditions on its website, nor any regulatory or authorization information.
Belize, an offshore destination, is renowned for its milder regulation and licensing requirements and lower incorporation costs. Many forex brokers choose to register in Belize and fall under the supervision of the IFSC since they need to meet fewer and softer criteria and to comply with less strict rules and requirements than if they registered in other countries.
The IFSC rather relies on self-regulation by the companies. Nevertheless, a broker license is attractive to traders as it brings them a feeling of confidence and security when choosing a broker.
Recently, the IFSC increased significantly the annual license fees and the minimum capital requirement for forex brokers to $25,000 and %500,000, respectively. Despite this, it remains one of the countries with lowest such requirements.
The list of forex brokers licensed and regulated in Belize include, FX Choice, RoboTrade, FBS, FXCL, Windsor Brokers, Exness, and MFX Broker.