Two years after securing a licence from the Mauritius Financial Services Commission (FSC), multi-asset broker Deriv has opened a physical office in the island nation.
Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).
“Opening this office in Mauritius is the result of two years of deliberate work, building the right regulatory relationship, finding the right talent, and ensuring the infrastructure here reflects how we operate globally,” said Joanna Frendo, the company’s Chief Risk and Compliance Officer.
- Why Deriv's April bonus targets psychology, not just acquisition numbers
- Deriv Applies for a Banking Licence in SVG
- Deriv Appoints Prakash Bhudia as Chief Growth Officer
An Ideal Location for Offshore Operations
Mauritius has long served as a hub for CFD brokers looking to establish an offshore footprint.
Prominent industry names maintaining a presence there include ActivTrades, ATFX and Exness, alongside other major players like Hantec Markets and XM.
Last year, EC Markets joined this growing cohort, opening an office in the country.
Relative to other offshore jurisdictions, Mauritius offers a notably reduced risk profile for payment providers after its removal from the FATF (Financial Action Task Force) "Grey List" in 2021.
This is a critical factor in an industry where banking and payment friction have been a persistent operational challenge.
Indeed, these challenges have pushed some brokers toward expanding into Electronic Money Institutions and payment processing.
AI Signals Industry-Wide Shift
While Deriv did not disclose how many employees will staff the Mauritius office, one theme dominates its plans: artificial intelligence.
The broker announced in 2025 that it is transitioning to an AI-first company.
“What we’re building in Mauritius reflects how we work globally,” Frendo added. “People joining the team will have access to AI training, the latest AI tools, and the same technology exposure as all our offices, an opportunity not always provided to non-engineering staff in financial services.”
Artificial intelligence is reshaping the retail brokers, influencing everything from customer support and compliance to staffing structures and operational efficiency.
In 2026 alone, firms including eToro and IronFX announced workforce reductions, fuelling speculation that AI-driven efficiencies are beginning to replace some traditional roles.
Whether firms are genuinely restructuring around AI or using the technology narrative to justify broader cost-cutting measures remains an open question.
Meanwhile, NAGA Group AG, the Xetra-listed company behind the Naga One trading app, recently said that AI now handles most of its chat-based customer support without human agents.
The company also noted that automation allowed the firm to operate its marketing department with roughly 20% fewer staff.
Technology providers are also positioning themselves to capitalise on growing demand from CFD brokers seeking AI-powered solutions. BridgeWise, traditionally focused on institutional clients, recently appointed forex and CFD expert Thomas Kareklas to strengthen its presence in the retail trading and CFD segment.
AI adoption is extending into compliance and risk management, although regulatory tolerance remains uncertain.
In a recent case, the UK’s Financial Conduct Authority ordered BeAccount Ltd to cease operations and return client funds after automated screening systems failed to identify risks that manual reviews would likely have detected.
