Not legal advice. We are a measurement tool — not a broker, not a
financial adviser, not a legal authority. What follows is general
information about the regulators and what they publish, with links to
their own sites. Rules change, and this page is not enough to judge the
legality of a specific case or product. For your own situation, ask the
regulator directly or a qualified lawyer in Oman.
Scope of this page: trading currencies through a broker (spot forex or CFDs on currencies). The Financial Services Authority covers securities activities and related areas; which authority covers a specific product is a question to put to the FSA.
The short answer
The Financial Services Authority was established by Royal Decree No. 20/2024 in March 2024, which changed the name of the Capital Market Authority to it. The old name still appears in older documents and sites.
In its Investor Protection Portal the FSA publishes a list of unauthorised companies engaged in securities activities — more than a hundred entries, mostly Instagram accounts and websites — and a register of companies working in securities. In 2025 and 2026 it warned against unlicensed online platforms, including commodity-linked instruments such as gold and crude oil.
What we did not find as of the review date: an FSA text that uses the word "forex". So this page attributes no position on it to the FSA. The practical question: is the firm offering you trading licensed for what it offers? — and ask the FSA whether it is the competent authority.
The authorities in Oman — and what each one publishes
Regulator
Financial Services Authority (FSA)
Established by Royal Decree No. 20/2024 establishing the Financial Services Authority and issuing its system, which changed the Capital Market Authority's name. Publishes the authorised register, the unauthorised-companies list, a reporting window and a whistleblower e-service.
🔑 The FSA's official site is fsa.gov.om.
What the official documents say, in summary — each card links its source
The decree
Royal Decree No. 20/2024 — establishing the Financial Services Authority
According to the Oman News Agency on 31 March 2024, the FSA said the decree reorganises the financial services system, including changing the name of the Capital Market Authority to the Financial Services Authority.
Source: Oman News Agency (Arabic)
The list
Unauthorised companies list
The FSA describes it as a list of unauthorised companies engaged in securities activities in Oman that does not cover all unauthorised companies, and advises verifying the entity before any transaction, consulting the authorised list, and following IOSCO warnings.
Source: fsa.gov.om — Investor Protection Portal
2025 warning
Unlicensed online platforms — 16 March 2025
The FSA warned against unlicensed electronic platforms promoting securities-related services online, such as digital currencies, commodity-linked instruments such as gold and crude oil, crowdfunding and shares listed on regional or global exchanges — unless licensed by the FSA.
Source: fsa.gov.om — media centre (item by date)
2026 campaign
"Make Sure the Entity is Authorised" — 20 April 2026
An awareness campaign on fraud through unlicensed trading platforms, pointing readers to verify through the FSA website or the Muscat Stock Exchange.
Source: fsa.gov.om — media centre (item by date)
How to check in five minutes — the Oman steps
1
Search the unauthorised list
It is searchable and includes social accounts, not only companies. Search by name, account and web address.
2
Then the authorised register
"Companies working in the field of securities" is searchable by name. Match the legal name in your agreement.
3
Ignore the old name
"Licensed by the Capital Market Authority" refers to a name changed in 2024. What counts is the FSA register today.
4
Watch for gold and oil products
The FSA's 2025 warning names commodity-linked instruments such as gold and crude oil.
5
Report if you can't find the firm
The FSA reporting window is for entities carrying out securities activities without a licence that are not yet on the list.
Things people confuse
Mix-up
"Capital Market Authority" is an old name
Its name was changed to the FSA under Royal Decree No. 20/2024. The old name is not proof of a current licence — nor, alone, of fraud; the register answers.
Mix-up
Absence from the list is not a licence
The FSA says the list does not cover all unauthorised companies. What counts is presence in the authorised register.
Mix-up
Followers are not a licence
Most of the list is Instagram accounts and websites. Being well known does not make an account authorised.
A licence is not a guarantee of profit. A licence says who may
offer a particular activity and under what supervision. It has nothing
to do with whether you make or lose money. Trading currencies with
leverage risks your capital, at a licensed broker and an unlicensed one
alike.
Where we stand in this
BasketGo is not a broker. It opens no accounts, holds no money,
recommends no broker and takes no commission from any. It is a
measurement tool: we compute the strength of the eight majors from 28
pairs and publish the numbers as they are — measurement, not advice.
Choosing a broker and checking its licence is your decision; this page
exists to make that easier, not to steer it.
Frequently asked questions
Is forex trading legal in Oman?
As of this page's review date we found no FSA text that names forex, so we attribute no position on it to the FSA. The FSA publishes an authorised register, a list of companies not authorised for securities activities, and warnings on unlicensed online platforms. The practical answer is to look up the firm you deal with and ask the FSA if in doubt. This is general information, not legal advice.
Does the Capital Market Authority still exist?
Its name was changed to the Financial Services Authority under Royal Decree No. 20/2024, issued in March 2024. The official site is fsa.gov.om.
I can't find the firm on any list — what does that mean?
Not being in the authorised register means you have not verified its licence; not being on the unauthorised list proves nothing, because the FSA says that list does not cover every entity. Use the FSA reporting window, and don't deposit before you have an answer.
Where do I report an unlicensed trading platform in Oman?
Through the "Report an unauthorised entity" window in the Investor Protection Portal, or the FSA's whistleblower e-service.
Does a licence mean trading is safe or profitable?
No. A licence says who may offer a particular activity and under what supervision. It has nothing to do with whether you make or lose money. Trading currencies with leverage risks your capital, at a licensed broker and an unlicensed one alike.
Where does BasketGo stand in this?
We are not a broker. We open no accounts, hold no money, recommend no broker and take no commission from any. We publish measurements of currency movement, which is why this page points at official registers rather than at a list of firms.
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