Pepperstone, Capital.com, and Trade Nation Establish Rare Collective Voice in Bahamas

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. The Bahamas Institute of Forex and CFD Issuers (BIFCI) was established by Pepperstone, Capital.com, and Trade Nation. According to Tamas Szabo, Group CEO of Pepperstone, the initiative has been under development since April 2023 and is now operational.

Szabo stated that the idea emerged from shared challenges across licensed firms, including regulatory expectations, capital requirements, and market conduct standards. The association aims to provide a formal structure for firms to communicate 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.

The institute plans to promote collaboration among members, create a structured channel for regulatory dialogue, and support education initiatives, including partnerships with universities. Membership is open to all licensed brokers in the Bahamas, and the organization will be governed by an executive committee formed by its founding members.

The FX and CFD industry in the Bahamas has shifted from a light-touch offshore hub to a more structured jurisdiction with tighter rules. The Securities Industry (Contracts For Differences) Rules 2020 introduced leverage caps of up to 200:1 for retail, a ban on binary options, negative balance protection, and stricter marketing limits.

Unlike most offshore centers where brokers operate independently, this move brings together three multi-jurisdiction brokers to create a formal, broker-led association. This structure provides Bahamas-licensed brokers a collective platform not commonly found in comparable jurisdictions such as Seychelles, Belize, or Vanuatu.