Regulator profile · MA
AMMC — Autorité Marocaine du Marché des Capitaux
Tracked byBrokerlist Editorial · Independent review teamUpdated
The Autorité Marocaine du Marché des Capitaux (AMMC) is Morocco's capital-markets regulator, supervising the Casablanca Stock Exchange, listed securities, asset-management firms and capital-markets intermediaries. It does not licence retail FX/CFD providers — that activity falls outside the Moroccan domestic framework.
Brokers in Morocco accepting residents under AMMC- Jurisdiction
- Kingdom of Morocco.
- Founded
- 2016
- Mandate
- Established by Law 43-12, replacing the prior CDVM (Conseil Déontologique des Valeurs Mobilières). AMMC enforces the Capital Markets Law and approves prospectuses, supervises CIU (collective-investment-undertakings) and OPCVM funds, and oversees the Casablanca exchange. Bank Al-Maghrib operates separately on prudential supervision and foreign-exchange controls.
- Consumer protection
- Investor Compensation Fund (Fonds de Garantie des Clientèles des Sociétés de Bourse) covers Casablanca-exchange brokerage clients up to MAD 200,000 per beneficiary. No specific protection for residents using offshore FX/CFD brokers.
- Retail leverage caps
- Not directly set by AMMC — domestic equity and bond trading does not use leverage in the retail CFD sense. Offshore brokers serving Moroccan residents operate outside AMMC's remit and self-set limits.
- Public register
- AMMC publishes its register of approved capital-markets intermediaries (sociétés de bourse, asset managers, advisors). The Authority also maintains a warnings list for unauthorised solicitations targeting Moroccan residents. Open register ↗
- Dispute resolution
- AMMC operates a mediator (Médiateur) for disputes between investors and capital-markets intermediaries. Moroccan courts for unresolved matters; cross-border disputes with offshore brokers face the structural limitation of Morocco's capital-controls regime.
- Editor notes
- Morocco maintains a managed-float currency regime under Bank Al-Maghrib, with the Office des Changes administering outbound capital movements. Offshore FX/CFD trading by residents is technically constrained by these controls; in practice MAD bank-channel funding to offshore brokers is limited, and most retail flow routes via USD wires or stablecoins.
Brokers we track with a AMMC licence
No brokersNo tracked broker currently holds a AMMC licence in our database.