MISAMwali International Services Authority

What MISA is

The Mwali International Services Authority is the licensing authority for international services in the Mwali (Anjouan) autonomous region of the Comoros. MISA is among the newer offshore licensing regimes and has become a common jurisdiction of incorporation for retail CFD broker brands targeting global client bases outside tier-1 markets.

Who and what it regulates

MISA licenses international brokerage and related services. Retail CFD brokers holding a MISA licence typically use it as the entity through which they onboard clients outside their primary regulator's reach. Because the regime is newer, the public enforcement record is shorter than for older offshore centres, and the supervisory intensity should be assumed to be lighter.

Compensation scheme

There is no statutory investor compensation scheme under MISA oversight. If a MISA-regulated firm fails, client recourse is through the firm's client agreement and the courts. There is no automatic compensation fund, and no equivalent to FSCS, ICF, or AFCA coverage.

Leverage and product rules

MISA-regulated entities commonly offer leverage well in excess of tier-1 caps. There is no ESMA-style product intervention order. Marketing inducements and bonus structures that would be restricted under tier-1 regimes are typically available. The flexibility is real; the absent safety net is the price.

How to verify a licence

MISA publishes a register of licensed entities. Search the firm name, confirm an active international brokerage licence, and cross-check the licence number back to the broker. Identify which regulator — if any — has primary jurisdiction over your specific account before funding.