Financial Regulator Guide

MISA License for Forex and CFD Brokers in Mwali

The Mwali MISA license is used by some international forex and CFD brokers operating through entities registered in Mwali, Comoros. This guide explains the license, official entity verification, regulatory strength, risks, and key account checks.

✓ Official register checked✓ Last updated: June 2026✓ 1 regulated brokers

2.5/5

★★★★★

License strength

1

Licenses

1

Brokers

1998

Founded

View regulated brokers Official register link

What is the MISA license?

A simple explanation of the regulator, the strength of the license, and what to check before opening an account.

The Mwali International Services Authority, commonly known as MISA, is associated with Mwali or Mohéli, an autonomous island within the Union of the Comoros. The authority provides a framework for registering and licensing certain international businesses, including entities offering brokerage, online trading, and other financial services.

Some forex and CFD brokers use MISA-licensed entities to serve international clients through an offshore structure. The official registry provides a way to check the legal company name, license number, and entity status, which is more reliable than accepting an unverified regulatory claim or certificate.

However, MISA is not generally ranked among the world’s leading financial regulators. Its supervisory framework, investor protection, enforcement powers, and complaint procedures may be more limited than those available under authorities such as the FCA, ASIC, or CySEC. Traders should review the broker’s operating history, withdrawals, fees, legal entity, client agreement, and any additional licenses before opening an account.

The Mwali International Services Authority, commonly known as MISA, is associated with Mwali or Mohéli, an autonomous island within the Union of the Comoros. The authority provides a framework for registering and licensing certain international businesses, including entities offering brokerage, online trading, and other financial services. Some forex and CFD brokers use MISA-licensed entities to serve international clients through an offshore structure. The official registry provides a way to check the legal company name, license number, and entity status, which is more reliable than accepting an unverified regulatory claim or certificate. However, MISA is not generally ranked among the world’s leading financial regulators. Its supervisory framework, investor protection, enforcement powers, and complaint procedures may be more limited than those available under authorities such as the FCA, ASIC, or CySEC. Traders should review the broker’s operating history, withdrawals, fees, legal entity, client agreement, and any additional licenses before opening an account.

Why is the MISA license important?

The MISA license is relevant because it provides a public framework for registering and licensing certain international financial and brokerage entities in Mwali, which forms part of the Union of the Comoros. The official registry allows users to search for licensed entities and compare the legal company name and license details with the information published by a broker.

For traders, this offers a clearer verification method than relying only on a license certificate or regulatory logo displayed on a company website. The registry can help confirm whether a specific legal entity appears among the companies authorized by MISA.

However, MISA is generally considered an offshore licensing authority and should not be treated as equivalent to major regulators such as the FCA, ASIC, or CySEC. Investor protection, enforcement standards, complaint procedures, and compensation arrangements may be more limited. Traders should carefully review the broker’s history, withdrawal record, account agreement, legal entity, client protection terms, and any stronger additional licenses before depositing funds.

The MISA license is relevant because it provides a public framework for registering and licensing certain international financial and brokerage entities in Mwali, which forms part of the Union of the Comoros. The official registry allows users to search for licensed entities and compare the legal company name and license details with the information published by a broker. For traders, this offers a clearer verification method than relying only on a license certificate or regulatory logo displayed on a company website. The registry can help confirm whether a specific legal entity appears among the companies authorized by MISA. However, MISA is generally considered an offshore licensing authority and should not be treated as equivalent to major regulators such as the FCA, ASIC, or CySEC. Investor protection, enforcement standards, complaint procedures, and compensation arrangements may be more limited. Traders should carefully review the broker’s history, withdrawal record, account agreement, legal entity, client protection terms, and any stronger additional licenses before depositing funds.

Brokers regulated by MISA

A list of brokers in the Broker Alarab database with license numbers, legal entities, and official verification links where available.

Alpari

Alpari⭐ 4.031 license

Review Open account▼

Alpari

Alpari⭐ 4.031 license

View review →Open account →▼

License number	Legal entity	Status	Official verification
T2023236	Alpari (Comoros) Ltd	Active	Verify officially

License number

T2023236

Status

Active

Legal entity

Alpari (Comoros) Ltd

Verify officially

Last license data check: June 26, 2026

How to verify a MISA license?

Search steps in the MISA register

1

Open the official register

Go to the regulator’s official website or register.

2

Search for the company

Use the company name or license number.

3

Match the details

Check the legal entity and license status.

To verify a MISA license, visit the official Mwali registry and open the approved brokerage companies or licensed entities directory. Search by the company’s legal name or license number, then compare the available registry details with the information provided by the broker.

Do not rely only on a license certificate, regulatory badge, or MISA logo displayed on the company website. Confirm the legal entity, license number, and official website information whenever these details are available.

Because many brokers operate through multiple international companies, check the legal entity named in the client agreement and deposit page. If the account is opened under another entity, the MISA license and its regulatory conditions may not apply to your account.

To verify a MISA license, visit the official Mwali registry and open the approved brokerage companies or licensed entities directory. Search by the company’s legal name or license number, then compare the available registry details with the information provided by the broker. Do not rely only on a license certificate, regulatory badge, or MISA logo displayed on the company website. Confirm the legal entity, license number, and official website information whenever these details are available. Because many brokers operate through multiple international companies, check the legal entity named in the client agreement and deposit page. If the account is opened under another entity, the MISA license and its regulatory conditions may not apply to your account.

Do not rely on the logo only

A regulator logo on a broker website is not enough. Always verify the license number and legal entity through the official register.

Open MISA register View all licenses

MISA license advantages

Advantages of MISA licensing include access to an official registry where users can search for the legal company and license information. This provides a clearer verification method than relying only on a certificate image, regulatory badge, or unsupported claim displayed by a broker.

For international brokerage groups, a MISA license may provide a legal framework for an offshore operating entity. It can be considered more transparent than having no identifiable license, especially when the broker clearly discloses the contracting company, account conditions, fees, withdrawal terms, and any stronger regulatory approvals held by other entities in the group.

Advantages of MISA licensing include access to an official registry where users can search for the legal company and license information. This provides a clearer verification method than relying only on a certificate image, regulatory badge, or unsupported claim displayed by a broker. For international brokerage groups, a MISA license may provide a legal framework for an offshore operating entity. It can be considered more transparent than having no identifiable license, especially when the broker clearly discloses the contracting company, account conditions, fees, withdrawal terms, and any stronger regulatory approvals held by other entities in the group.

Important points to watch

The main limitation of MISA licensing is that it is generally considered a lower-strength offshore framework and does not provide the same level of supervision, enforcement, or investor protection associated with major regulators. Complaint and compensation arrangements may be limited or less accessible for international clients.

A company appearing in the registry does not automatically make the broker safe or suitable. Traders should carefully review the broker’s history, contracting entity, withdrawal policy, fees, support quality, account documentation, and any stronger additional licenses before opening an account.

The main limitation of MISA licensing is that it is generally considered a lower-strength offshore framework and does not provide the same level of supervision, enforcement, or investor protection associated with major regulators. Complaint and compensation arrangements may be limited or less accessible for international clients. A company appearing in the registry does not automatically make the broker safe or suitable. Traders should carefully review the broker’s history, contracting entity, withdrawal policy, fees, support quality, account documentation, and any stronger additional licenses before opening an account.

Final thoughts on the MISA license

A MISA license provides a public registry for verifying certain international brokerage entities, but it is not considered top-tier regulation. Confirm the company and license details, then carefully review withdrawals, account terms, client protection, and the broker’s wider history.