By Staff Writer
Deriv appears to be pursuing a banking licence in St Vincent and the Grenadines (SVG), based on entries in the local regulatory registry that show an application listed as pending approval.
This move comes as the broker continues to broaden its regulatory setup across multiple jurisdictions, a strategy we’re seeing more often from large, globally-active trading firms trying to support different products, client regions, and operational needs under separate entities.
Deriv established a separate entity in St Vincent and the Grenadines in June 2023, and the registry entries suggest the company is now taking a step further by seeking a banking licence in the jurisdiction.
SVG is widely known as a corporate registration hub, but it’s worth noting that under the Financial Services Authority (FSA) of St Vincent and the Grenadines, there is no dedicated forex/CFD brokerage licence. Instead, companies may offer leveraged trading services through incorporation.
However, the regulator has reportedly required locally incorporated brokers to verify overseas regulatory authorisations, which effectively means external licensing still matters if a firm is using SVG as part of its operational structure.
Deriv traces its origins back to 1999, when it operated under a different brand. Today, it holds regulatory authorisations across a range of jurisdictions, including:
Malta
Labuan
Vanuatu
British Virgin Islands
Mauritius
Cayman Islands
The company has also expanded into the UAE, having obtained a full Category 1 brokerage licence in Dubai, and began onboarding clients under that framework last year.
