Forex trading is legal in Comoros, but the regulatory framework remains underdeveloped and fragmented across the country's autonomous islands. Each of the three islands in the Union of Comoros—Mohéli, Anjouan, and Grande Comore—maintains separate regulatory bodies with distinct licensing requirements for forex businesses. The Central Bank of Comoros (Banque Centrale des Comores) has the legal mandate to regulate and oversee financial market infrastructures and ensure they comply with international standards, focusing primarily on monetary policy and banking sector stability (1).
The regulatory landscape for forex trading in Comoros is characterized by limited central oversight and island-specific authorities. The Mwali International Services Authority (MISA) on Mohéli Island and the Anjouan Offshore Finance Authority (AOFA) on Anjouan are the primary regulators responsible for licensing and supervising forex businesses operating from these jurisdictions. These authorities apply relatively lenient regulatory approaches with minimal supervision requirements, making them attractive to forex startups seeking offshore licenses. Forex brokers must comply with Anti-Money Laundering and Know Your Customer requirements as mandated by the Ministry of Finance (2).
"The BCC has the legal mandate to regulate and oversee Financial Market Infrastructures and ensure they are fully compliant with international standards. The scope of oversight also includes the retail payment systems given the significant importance for the overall efficiency of the payments system."
While forex trading activities are permitted, Comoros residents can legally trade currencies and open accounts with offshore brokers regulated in other jurisdictions. Local companies offering forex brokerage services must obtain proper licensing from the relevant island authority and maintain minimum capital requirements, typically starting from €50,000 to €250,000 depending on the jurisdiction. The Central Bank primarily focuses on maintaining the country's fixed exchange rate regime with the Euro and ensuring price stability rather than directly regulating retail forex trading activities (1).
Source:
https://www.imf.org/-/media/Files/Publications/CR/2024/English/1COMEA2024001.ashx
https://documents1.worldbank.org/curated/en/812791592801563444/pdf/Comoros-Payments-and-Settlement-Systems-Oversight-Policy-Framework.pdf
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
