Regulation · last checked July 2, 2026
Siba Regulation: How Seychelles Broker Licensing Works Today
SIBA was replaced by the Seychelles Financial Services Authority (FSA) in 2014. If a broker mentions SIBA or Seychelles regulation, the practical question is whether the legal entity, licence number, and permitted activities match the current official register.
- Official regulator sources
- License-check guidance
- Risk-focused editorial approach
What SIBA regulation means now
In Seychelles, the former Seychelles International Business Authority (SIBA) was replaced by the Financial Services Authority (FSA) under the Financial Services Authority Act, 2013, effective 1 March 2014. For current broker checks, readers should rely on the FSA and its public register rather than treating “SIBA” as a standalone live regulator label. In practice, a broker page may still use legacy wording, but the regulatory question is whether the entity is currently licensed by the FSA and for which activities.
Broker examples with Seychelles/FSA references found in primary sources
| Broker | Legal entity shown in source | Regulatory reference | What the source supports |
|---|---|---|---|
 Exness | Exness (SC) Ltd | FSA Seychelles licence SD025 | The broker states that this entity is a Seychelles Securities Dealer authorised by the FSA. |
 eToro | eToro Seychelles Ltd | Securities Act 2007 licence #SD076 | The broker’s group regulation page identifies a Seychelles entity and licence number. |
| RTRAW Trading Ltd | RAW TRADING LTD | FSA Seychelles authorisation referenced in public risk disclosure notice | The FSA publishes a risk disclosure notice referencing the entity and its Seychelles authorisation. |
| BLBBG Limited | BBG LIMITED | FSA Seychelles documentation reference | The FSA-hosted client services agreement shows Seychelles venue/context and brokerage-related CFDs/Forex wording. |
Examples are included only where source material directly supports a Seychelles regulatory reference. This is not a complete market list and should not be read as an endorsement.
What kind of brokers use Seychelles licensing
Seychelles-licensed entities are commonly used by international Forex and CFD brands operating through an offshore structure. That does not make them unregulated, but it does mean the oversight framework may differ materially from higher-tier regimes. Readers should compare the named legal entity, licence number, and corporate registration details before funding an account.
How to verify a Seychelles broker license
Start with the broker’s legal entity name, then compare it against the FSA register of licensees. Confirm the licence number, the authorised activity type, and whether the broker’s website, footer, and account documents match the same entity. If the broker lists a Seychelles company but the regulator register shows a different name, a different licence class, or no matching entry, do not assume the marketing claim is correct.
What protections may exist
A Seychelles licence can provide public verification and a supervisory framework for the licensed entity. The FSA also publishes investor warnings and public notices, which can help readers spot unauthorised websites or suspicious operators. Even so, the existence of a licence is only one input in due diligence.
What regulation does not protect against
Seychelles regulation does not eliminate market risk, leverage risk, platform risk, counterparty failure, or the possibility of delays in withdrawals and dispute resolution. It also does not guarantee a broker’s commercial conduct, service quality, or financial strength. If a broker is only licensed offshore, readers should avoid treating the licence as equivalent to stronger compensation-backed regimes.
How to read a broker’s Seychelles disclosure
The strongest disclosure is specific: legal entity name, company number, licence number, regulator name, and a direct match to the official register. Weaker disclosures often say only “regulated in Seychelles” without a number or without naming the exact entity. That gap is important because different group companies can be regulated in different jurisdictions.
Common questions
Is SIBA the same as the Seychelles FSA?
No. SIBA was the former Seychelles International Business Authority. The current regulator is the Financial Services Authority (FSA), which replaced the SIBA framework in 2014.
Can I trust a broker just because it says Seychelles regulated?
No. A Seychelles licence confirms a regulatory relationship, but it does not guarantee safety, low risk, or successful withdrawals. Always confirm the exact legal entity and licence number on the official register.
What should I check first on a broker license page?
Check the legal entity name, licence number, regulator name, and the authorised activity. Those details should match the broker website, account documents, and the official FSA register.
Does Seychelles regulation include compensation protection?
The sources reviewed do not show a Seychelles compensation scheme comparable to the strongest investor-protection systems in major onshore jurisdictions. Readers should not assume compensation coverage unless it is explicitly stated by the regulator or broker.
Why do some brokers still mention SIBA?
Some pages use legacy wording because older material, archived branding, or marketing copy may not have been updated. The relevant verification point is the current FSA register, not the historic label alone.
What should I do if the broker name does not match the register?
Treat that as a warning sign. Ask the broker for the exact legal entity and licence number, then search the FSA register again before depositing funds.
Check the details yourself
These are the pages we relied on. Read them before you open an account or send money anywhere.