Hello guys,

I got the same approach from a friend couple weeks ago, and I asked the same question to myself like all of you did above.

I went on and dive deeper into the search, and actually emailed the regulatory body of St. Vincent and the Grenadines. Please note that to be VERY VERY careful about this group/company promoting their product/services.

There are many many more forex brokerage companies out there in bigger name countries such as US, UK, Australia, Switzerland, etc etc. Funny islands like that are usually used for Ponzi Scheme/MLM.

But of course, you can still make some money provided you can find some naive people out there (mostly young kids I see), and not being caught (YET) by the government.


Below please find the reply I got from the regulator:-

Dear Mr. XXX,

Please be advised that Olympus Financial Group Limited is registered as an International Business Company with the Financial Services Authority. Please be further advised that if Olympus is involved in forex or brokerage activities, it is not being regulated by the Authority.

No Forex or brokerage licence has been issued to Olympus Financial Group Limited or any other IBC incorporated in SVG, as no such licence exist in this jurisdiction, as such the entity is not being regulated in relation to its activities as it relates to forex trading or brokerage.

The St. Vincent and the Grenadines Financial Services Authority (FSA) does not ‘Regulate, Monitor or Supervise” International Business Companies (IBCs) which engage in FOREX Trading or Brokerage. The extent of supervision of IBCs goes no further than to ensure that IBCs comply with their obligations under the International Business Companies (Amendment and Consolidation) Act.


An IBC incorporated in SVG is authorised to engage in any business activity without additional approval from the FSA, except where its proposed business activity amounts to banking, insurance or mutual fund business, as these activities are licensed activities.

As such, an IBC which chooses to be involved in forex brokerage services will not be regulated by the Financial Services Authority or any other regulatory authority in St. Vincent and the Grenadines. Of note please also be advised that any person who invests with an IBC which engages in brokerage business is doing so at their own risk.



This post has been edited by junggleman: Jul 30 2018, 05:46 PM