BVI FSC - British Virgin Islands Financial Services Commission

What is BVI FSC?

The British Virgin Islands (BVI) is well known for its stable political environment and legal framework based on English law. In 2001, with the enactment of the Financial Services Commission Act, the British Virgin Islands Financial Services Commission (BVI FSC) was officially established as the national financial regulator, responsible for protecting forex brokers and investors.

Functions and Scope of Supervision:

BVI FSC comprehensively oversees all financial activities in the BVI, including:

• Banking and insurance.
• Fund management and trust companies.
• Corporate management and company registration.
• Mutual funds and limited partnerships.
• Intellectual property.

In particular, all forex brokers operating in the BVI must obtain a valid license from the BVI FSC. The licensing process here is generally stricter than in many other offshore jurisdictions.

Regulations for Forex Brokers

• Client fund safety.
• Client assets must be fully segregated from company funds.
• Brokers must ensure client assets can be identified and protected at any time.
• Mandatory reporting requirements.
• Anti-Money Laundering (AML) reports.
• Audit reports.
• Transaction reports.

How to Verify a Broker’s BVI FSC License

You can verify information at: https://www.bvifsc.vg/regulated-entities

Steps to follow:

1. Obtain the broker’s official legal name from its website.

2. Enter the name into the search bar on the BVI FSC website.

3. Cross-check the displayed information with the broker’s website.

4. Confirm whether the broker is authorized to provide services such as “Arranging Deals in Investments” or “Dealing in Investments as Principal”.

Resolving Disputes with a BVI FSC-Regulated Broker

If a dispute arises, you can proceed in ways:

1. Contact the broker directly to discuss and resolve the issue.

2. File a complaint with regulators:

• BVI FSC: Complaints must be submitted in writing by mail, fax, or email.
• Email: commissioner@bvifsc.vg
• Address: Pasea Estate, P.O. Box 418, Road Town, Tortola, VG 1110, BVI
• Fax: +1-284-494-5016

3. BVI International Arbitration Centre (BVI IAC): You may review the fee schedule at https://www.bviiac.org

• Email: arbitration@bviiac.org
• Address: BVI International Arbitration Centre, P.O. Box 3438, Road Town, Tortola, VG 1110, BVI

4. File a lawsuit in the courts of the British Virgin Islands if the above two methods fail.