Here is the list of the best Forex brokers in Belize 2020

With its business-friendly environment and lower taxes than other countries, Belize stands to be one of the most popular destinations for businesses all around the world. Having a population of less than half a million, the country manages to be a very important place for the market.

How did Belize manage to become such an important player in the Forex trading market? That is a question that many traders ask. For starters, the country has worked very hard to create a very friendly atmosphere for traders and businesses, the taxes in the country are one of the lowest, which attracts many people.

Belize is known to be one of the most popular offshore regulatory jurisdictions around the world. It is the home of a very well-known offshore regulatory body, the International Financial Services Commission of Belize, simply known as IFSC. The regulatory body of the country is known to be much more tolerant in terms of its regulatory framework than other countries around the world, especially Europe.

Today we are going to talk about Forex trading in Belize and everything that traders should know. So, if you are looking forward to starting trading in the country, follow our very detailed guide and learn everything that there is to know about the country.

How to find reputable FX brokers in Belize?

Trading Forex is not easy because it is connected to many challenges and risks. Finding a trustworthy Forex broker is a huge challenge for many people in the market, especially for those who are just getting started. The thing is, beginners are having a very hard time understanding what is important while trading.

To make your job much easier, we did very intensive research, focusing on every little detail that might make Forex trading better for you. So, if you are looking for the best Forex brokers in the country, you can see our list below. Check out the list that we came up with and try out some of the best Forex brokers in the country and around the world today.

XM Group

XM Group Forex Review

Minimum deposit

5 USD

Licences

CySEC, IFSC, ASIC

Maximum leverage

1:30*

US Clients

No

Exness

An in-depth review of Exness Forex broker

Minimum deposit

1 USD

Licences

CySEC, FCA, FSA

Maximum leverage

1:Unlimited

US Clients

No

IQ Option

IQ Option Review – can the broker be trusted?

Minimum deposit

10 USD

Licences

CySEC

Maximum leverage

1:1000

US Clients

No

BlackBull Markets

BlackBull Markets Review – What Does This FX Broker Offer?

Minimum deposit

$200

Licences

FMA

Maximum leverage

1:500

US Clients

No

Forex.com

Forex.com Review

Minimum deposit

100 currency units

Licences

CIMA, FCA, NFA

Maximum leverage

1:200

US Clients

Yes

EagleFX

EagleFX Review – Is it worth your time and money?

Minimum deposit

10 USD

Licences

N/A

Maximum leverage

1:500

US Clients

No

RoboForex

RoboForex Broker

Minimum deposit

100 USD

Licences

CySEC

Maximum leverage

1:200

US Clients

No

Forex trading in Belize – Regulations

As we have already noted, because of the lower taxes, ease of doing business, and many other details, the country has been known as one of the top destinations for internationally regulated Forex brokers. There are hundreds of different companies that are regulated here, and because of this, the role that Belize plays in the market is huge.

There are several ways to make sure that you are trading with a legit Forex broker. One thing that makes Belize so popular around the world is the regulatory body of the country, called the International Financial Services Commissions of Belize. IFSC is one of the prominent regulatory bodies around the world, known for its not-so-strict regulatory policies.

In addition to giving out licenses to Forex brokers, both locally and internationally, the regulatory body is also required to monitor the financial market in the country. It is responsible to set financial market regulations, and if needed, take accurate restrictive measures.

Regulated Forex brokers in Belize

The main idea behind establishing the regulatory body was to ensure the smooth business operation and the safety of Forex trading in Belize. The regulatory body, over the years, has become incredibly popular and as of now, it regulates both onshore, and offshore businesses.

The regulatory body of Belize started operating many years ago, in 1999. The regulatory body works under the surveillance of the government of Belize. The adoption of the International Financial Securities Commission Act is the one that set the basis for the promotion and protection of the financial companies in the country, and around the world as well.

The regulatory body works very hard to fight against money laundering and is a member of the Caribbean Financial Action Task Force, which is responsible to keep the region safe. Obtaining the license from the regulatory body is much easier than from other agencies, such as FCA of the UK, for example. This is one of the major reasons why so many companies have decided to be licensed by this company.

The regulatory body is an independent government agency, which means that the Forex broker functions on its own, however, follow the directives from the government of the country. The regulatory body has certain criteria and qualifications that Forex brokers in Belize have to meet to obtain local licenses.

Regulatory framework of IFSC

Forex trading brokers in Belize have to follow certain types of regulatory frameworks. The guidelines that the Fore regulatory body has might not be as strict as others, but they are still enough to maintain the security and safety of Forex traders.

Every single year, the regulatory body goes through the list of Forex brokers in Belize that it has regulated to make sure that they are in line with the regulatory framework. If there is some type of problem with the brokers, the regulatory body takes accurate measures to better the situation.

Forex brokers that are regulated by the Forex broker have to follow several requirements. One of them is the minimum capital requirement, which means that the Forex brokers owning the license of IFSC should always maintain a minimum capital of $500,000.

Also, IFSC requires companies to keep the funds of the Forex traders on segregated bank accounts, and they should also follow the international standards of AML and KYC laws. The Forex brokers in Belize regulated by IFSC also are submitting monthly reports about the events that had been happening.

The thing that makes the regulatory framework of IFSC very different from others is the leverage restrictions. While other regulatory bodies limit the amount of leverage that can be offered by the brokers, this one is not doing that. Forex brokers regulated in Belize can offer a leverage of up to 1:1000. However, keep in mind that using such high leverage is very risky and can be dangerous for beginners.

If you are using such high leverage, you could end up losing a lot of money if something goes wrong, even more than you have on your trading account. So, keep in mind that leverage should be used with a lot of care.

Finding IFSC regulated FX brokers

One of the most dangerous things in the world of Forex trading is that there are many companies that are not regulated and claim to be owning licenses from regulatory bodies. To avoid being scammed while trading Forex, make sure to only trust reputable Forex brokers.

Also, you can always check the regulatory status of a Forex broker with the regulatory body. You can directly contact the IFSC and ask them about the Forex broker that you are planning to use. Keep in mind that one of the most important things while trading Forex is your safety and security.

Best Forex platforms in Belize

When you are trading Forex, the platform that you are using is of utmost importance. There are many different types of trading platforms available for FX traders in Belize, but the most popular one here, much like anywhere else, is the MetaTrader. MetaTrader 4 was created by a Russian company called MetaQuotes, exactly 15 years ago, in 2005.

The trading platform became very popular around the world, and as experts are saying, more than 90 percent of all Forex brokers are offering MT4. MetaQuote also released a newer version of MT4, called MT5, which is also very popular. MetaTrader has a browser-based platform, which is called WebTrader.

With the help of the WebTrader, you will have the opportunity to trade Forex without having to download any additional applications. You can simply open your browser and use the trading platform.

Mobile trading in Belize

In recent years, mobile Forex trading in Belize has become very popular. Most of the Forex brokers are now offering Forex traders in Belize the ability to trade Forex with the help of their mobile devices. Because smartphones developed so fast and so much, now they are able to run Forex trading platforms very easily.

A huge list of best Forex brokers in Belize is offering local traders the ability to trade Forex using Android and iOS devices thanks to the special applications created for mobile devices. With the help of it, even those traders who are always on the go can participate in this market from wherever they want to.

The national currency of Belize

The national currency of Belize is called Belize Dollar, the official code of the currency is BZD. There are banknotes and coins available in BZD, it was first issued in 1974. Before getting its independence, Belize used the British Honduras dollar, British pounds, and Spanish dollars in different parts of history.

The economy of the country is very much dependent on the tourism and agriculture sectors. The country is famous for reporting sugar, bananas, citrus, and even crude oil. Because of the steps taken by the country, the GDP of Belize has been growing steadily over the past few decades, mainly because of the monetary and fiscal policies of the country.

The Belize dollar is not that popular in the world of Forex trading, but there are still many people who trade it. If you decide to trade Belize dollar in pairs with the USD, which will be an exotic currency pair. These currency pairs are known for higher spreads and lower liquidity, which is why not as many people are trading them.

If you want to trade in the local currency of the country, it would be a better idea to find a broker that offers payments in this currency to avoid paying huge amounts of fees for transactions.

Best Belize Forex brokers – Payment Methods

When you are trading Forex, you need to use the payment methods that fit your needs the best. Local Forex brokers offer many different types of payment methods in Belize. You can make payments with more traditional payment methods, such as, credit cards and bank transfers, or use online payment methods.

When it comes to cards, Visa and Mastercard are those that are very widely accepted, you can also find brokers accepting American Express but not as much as Visa and Mastercard. For online payment methods, Belize is known to be very active. There are many mobile payment methods and online payment methods available for Forex traders.

Why is Belize so important in the world of Forex?

As we have already said in this guide to the best Forex brokers in Belize, the country plays a huge role in the world of Forex. One of the major reasons for it is the regulatory body of the country. IFSC is known around the world as one of the top Forex regulators, one of the major reasons for it being the fact that it gives out licenses very easily.

There are tens of different Forex brokers owning the license from this regulatory body. Over the last few years, the regulatory body has changed the guidelines that it follows a lot. This mostly happens to safeguard the rights of Forex traders.

Best Forex brokers in Belize 2020 – Key Takeaways

Belize is known to be a very loved destination for Forex traders and businesses around the world. Known for its low taxes and fast-developing markets, Belize plays a huge role in the worldwide Forex trading market.  The International Financial Services Commissions of Belize is known to be one of the top Forex regulators around the world, for its friendly attitude towards Forex brokers.

Over the years, the economy of the country has changed and developed at a very fast pace, which has created a very good environment for Forex brokers and traders in the country.