The International Financial Services Commission is the regulatory thing in Belize. Also Called the IFSC. It’s accountable for financial regulation. It was instituted in Belize at 1999. The IFSC is the regulatory body to its foreign industry in Belize.
As a regulatory power, IFSC’s authority under the IFSC Act will be to market, maintain and grow Belize within a global financial services centre also to govern the supply of financial services that are international.
What Are The Responsibilities of The IFSC?
The responsibilities of this IFSC are recorded the following:
- Promoting and growing Belize like a centre for international financial services
- Protecting and improving the trustworthiness of Belize within an offshore financial centre
- Providing appropriate oversight and regulation of international financial services
- Formulating policies and providing advice and support to the federal government on the law of such agencies
- Collecting, preserving and disseminating reliable and timely advice on interested parties about developments and new trends from those services.
The aim of this IFSC will be always to guard consumers, boost the trustworthiness of Belize within a global financial services centre also to promote decent business methods by great businesses.
Belize has turned into a well known overseas place for forex brokers together with a few grounds. The taxation profits offered in Belize are potentially the largest convenience. Forex brokers in Belize aren’t required to pay for any taxation on earnings away from the united states; this really will be really for your profit of brokers offering online services round the whole world.
Are IFSC Regulated Brokers Safe?
Many forex brokers make use of the liberty to perform their company overseas from Belize because of its IFSC permit, that’s a lot easier to gain than such as an FCA permit (from the UK).
There are a few requirements for IFSC forex brokers to acquire. All these are recorded down from:
- Brokers governed by the IFSC will need to have a sensible degree of unimpaired funding. This funding has been set at $100,000 but has been recently increased by the IFSC to $500,000.
- Brokers need to continue to keep the customers’ funds in segregated accounts.
- They have to issue monthly statements to clients of IFSC regulated businesses.
- IFSC regulated forex brokers have to send monthly reports including details of unimpaired capital, and number and volume of trades.
- IFSC regulated forex brokers have to offer a customer complaints procedure.
The requirements set by the IFSC are basic but it looks like the regulator has been trying to improve itself. The rules are getting a little stricter when we compare to before.
|Brokers||Regulation||Spreads||Max Leverage||My Score||Action|
|ASIC, CYSEC, IFSC||Low||1:888||8.7||The review will be Coming Soon|
|FCA, CYSEC, FBS, IFSC||Low||1:500||8.6||The review will be Coming Soon|
|CySEC, FCA, BaFin, FSC, FSCA, FSA||Low||1:1000||7.5||The review will be Coming Soon|
|IFSC, CySEC||Low||1:400||7||The review will be Coming Soon|
|CySEC, IFSC Belize||Medium||1:1000||6.3||The review will be Coming Soon|
|IFSC||Low||1:500||6||READ MY REVIEW|
|IFSC||Low||1:200||5.6||READ MY REVIEW|
|IFSC, SVG||High||1:1000||5||READ MY REVIEW|
|IFSC||High||1:500||4.0||READ MY REVIEW|