Best forex brokers in Malta

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Online Forex trading is quite popular and widespread in Malta which has lead authorities to integrate it within the regulatory framework of the country. Furthermore, Malta is a member-state of the European Union which means that the government has diligently followed the guidelines set out by the European Securities and Markets Authority. The country is also part of the Eurozone monetary union which means it is integrated quite thoroughly in the European community.

The responsibility of overseeing and regulating the whole financial sector of the country falls on the shoulders of the local Malta Financial Services Authority (MFSA). Forex brokers operating on the territory of Malta have to be licensed by the MFSA in order to provide financial services legally. The website of the MFSA is available in English and is easy to navigate and understand.

As was pointed out above – the guidelines laid out by the European Securities and Markets Authority are relevant in Malta as well. They include a leverage cap of 1:30 for Forex brokers, obligatory segregation of accounts, a guarantee of negative balance protection, a ban on binary options trading and many more. Furthermore, the local Malta Financial Services Authority requires a starting capital of at least  €730,000 in order to prove liquidity and be eligible for a license.

The most popular payment methods in Malta are the standard Visa and MasterCard, as well as Mint which is a prepaid cash card.

It goes without saying that the EU membership of Malta entails that EU-regulated brokers may provide services in Malta freely, as long as they are licensed by the relevant European regulatory agencies.