A group of forex and CFD brokers has launched a new industry body in the Bahamas, aiming to improve coordination among firms and strengthen engagement with regulators in a growing offshore market.
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Industry Body Takes Shape
The Bahamas Institute of Forex and CFD Issuers (BIFCI) has been established by Pepperstone, Capital.com, and Trade Nation. According to Tamas Szabo, the Group CEO of Pepperstone, the initiative has been under development since April 2023 and is now operational.
Szabo said that the idea emerged from shared challenges across licensed firms in the jurisdiction. These include regulatory expectations, capital requirements, and market conduct standards.
“We have been working on developing this Bahamas industry body www.bifci.com since April 2023 and now it has finally come to fruition. Looking forward to working with other industry participants and if you are already in the Bahamas or looking at the Bahamas as a jurisdiction of choice please feel free to reach out.”
The association aims to provide a formal structure for firms to communicate with each other and present a unified voice when engaging with the Securities Commission of The Bahamas. BIFCI will operate as a not-for-profit body representing licensed forex and CFD issuers in the country.
Focus on Standards and Regulation
The institute also plans to promote collaboration among members, create a structured channel for regulatory dialogue, and support education initiatives. These include partnerships with universities to build local expertise in leveraged trading markets.
BIFCI has opened membership to all licensed brokers in the Bahamas and is encouraging firms considering the jurisdiction to apply. The organization will be governed by an executive committee formed by its founding members.
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The FX and CFD industry in the Bahamas has shifted from a light‑touch offshore hub to a costlier but more structured jurisdiction, with tighter rules and a growing cluster of internationally regulated brokers. The Securities Commission of The Bahamas oversees forex and CFD brokers under a regime that has tightened significantly since 2020.
The Securities Industry (Contracts For Differences) Rules 2020, which came into force in May 2021, introduced leverage caps of up to 200:1 for retail, a ban on binary options, negative balance protection and stricter marketing limits, including curbs on cold calling and aggressive acquisition tactics.
Brokers Build Rare Collective Voice in Bahamas
Unlike most offshore centres, where brokers typically operate independently under local rules, this move brings together three multi‑jurisdiction brokers to create a formal, broker‑led association, making the development a notable outlier among rival offshore hubs.
This structure gives Bahamas‑licensed brokers a collective platform that does not really exist in comparable jurisdictions such as Seychelles, Belize or Vanuatu, where regulators and broad business chambers usually dominate the conversation rather than product‑specific industry bodies.
This article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More
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