Mwali International Services Authority
Offshore onlyMwali (Mohéli), Comoros · MISA
A registration sold by an autonomous island of the Comoros, and the weakest thing on this site that is still called a licence. There is no retail leverage cap, no compensation scheme and no conduct supervision a client abroad could invoke. It is also the only one here that cannot be checked: misa.km and misa.org.km did not resolve when this was written, and the registrar site that does answer sits behind a security challenge. A licence number you cannot look up is a claim, not a licence.
Compensation if the firm fails
No compensation scheme is on record for retail clients in this jurisdiction.
Negative balance protection
Not established. Plan on the assumption that you can owe the broker money, and confirm with the authority.
Brokers that name MISA
Naming a regulator is not the same as your account being covered by it. Confirm the entity.