XS.com Strengthens Offshore Presence with a New Mauritius Licence

XS.com has strengthened its offshore presence by obtaining a licence from the regulator in Mauritius, which the contracts for differences (CFDs) broker highlighted as a “strategic move.”

XS.com’s Offshore Push

Announced today (Wednesday), the broker stressed that the licence from the Financial Services Commission (FSC) will allow it to serve its global clients.

Indeed, brokers usually obtain offshore licences to operate in jurisdictions without local CFD regulations, such as most of the emerging markets in Southeast Asia, Africa, and Latin America.

“This new licence not only solidifies our presence in the financial services industry but also aligns with our core principles of prioritising regulatory compliance and delivering exceptional service,” said Mohamad Ibrahim, the Group Chief Executive Officer at XS.com.

XS.com was established in Australia in 2010, and since then the broker has obtained several regulatory authorisations from authorities in Australia, Cyprus, Seychelles, Labuan, South Africa, Kuwait, and now Mauritius.

FinanceMagnates.com reported last month that the broker opened a new office in Kuwait with a local partnership, making it a central customer support and market development base.

A Preferred Offshore Destination

Mauritius has long been a popular jurisdiction for CFD brokers to set up their offshore businesses. Several big and small brokers operate with Mauritius licences. Some of the well-known brands holding Mauritius licences are ActivTrades, ATFX, Deriv, Exness, Hantec Markets, XM, and many more.

Recently, EC Markets, another CFDs broker, also opened an office in Mauritius.

Apart from the regulatory approvals, XS.com is also streamlining its technology and core offerings. The broker recently partnered with technology provider Centroid Solutions to expand access to its liquidity services for retail brokers worldwide.