Sector
Forex and Investment.
Brokers, liquidity providers and investment firms. Investment firm authorisation, prudential capital and client money arrangements for brokers and liquidity providers.
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Brokers, liquidity providers and investment firms. Investment firm authorisation, prudential capital and client money arrangements for brokers and liquidity providers.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money and cryptoasset firms.
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We obtain the investment firm authorisation, meet the prudential requirements and arrange the client money for brokers, liquidity providers and investment managers.
Permissions for dealing, arranging, advising and managing investments.
Permanent minimum requirement, own funds and the SNI assessment.
Client money arrangements and the accounts that support them.
Operating and settlement accounts and liquidity provider relationships.
A broker licenses where its clients are: an investment firm licence for the EU and the UK, an AFS licence for Australia, a DFSA licence in Dubai and a dealer licence in an international centre for clients outside those markets. Capital follows the trading model, and dealing as principal (taking the other side of client trades) carries the highest tier.
| Licence | Regulator | Capital | Our realistic timeline |
|---|---|---|---|
| Cyprus investment firm licence | CySEC | €75,000 to €750,000 | 6 to 8 months |
| UK investment firm authorisation | FCA | £75,000 to £750,000 | 6 to 8 months |
| Australian financial services licence | ASIC | A$1m or 10% revenue | 5 to 8 months |
| DIFC DFSA licence | DFSA | By category | 4 to 6 months |
| Mauritius investment dealer licence | FSC Mauritius | MUR 1,000,000 | 3 to 5 months |
| Seychelles securities dealer licence | FSA Seychelles | US$100,000 | 2 to 3 months |
| Vanuatu securities dealer licence | VFSC | See the guide | 3 to 4 months |
| BVI investment business licence | BVI FSC | Set to the business | 2 to 3 months |
| Labuan money broking licence | Labuan FSA | RM1,000,000 | 2 to 3 months |
| South Africa financial services provider licence | FSCA | 4/52 to 13/52 expenditure | 4 to 6 months |
An onshore licence for each major regulated market and an international dealer licence for clients elsewhere. Many groups hold both side by side.
A Cyprus investment firm licence, with capital of €75,000, €150,000 where client money is held and €750,000 for dealing on own account, and access to every EU and EEA state on notification.
Investment firm authorisation on the same three tiers in sterling.
An AFS licence, with net tangible assets of the greater of A$1,000,000 and 10% of revenue for retail derivative issuers. A DFSA licence in the Dubai International Financial Centre, with capital set by activity.
An FSP licence, plus a derivative provider authorisation for a broker dealing as principal.
Mauritius, Seychelles, the BVI, Labuan and Vanuatu, on lower capital and shorter timelines: US$100,000 in Seychelles, MUR 1,000,000 in Mauritius, a VT 5,000,000 deposit in Vanuatu. Labuan licenses agency broking only, with RM1,000,000.
The full comparison sets out capital, fees and timing side by side.
Client money accounts, liquidity and payment processing for new and established brokers, arranged through our direct relationships with banks, e-money institutions and payment providers.
In place for authorisation for a new broker. For a licensed broker, new currencies, regions or liquidity providers, or a replacement for a bank that has withdrawn.
Client money accounts held apart from the firm’s own, operating and settlement accounts in each currency, and liquidity providers (the banks and dealers whose prices you offer and with whom you hedge).
Acknowledgement letters in the UK, trust accounts reconciled daily and monthly in Australia, the principal bank account in Mauritius, and accounts marked per client in Labuan.
Card, bank transfer and local methods in both directions, in the currencies and regions you serve. See banking and payment processing.
Five disciplines, run to each regulator’s standard from the first trade. One in-house team runs the function or works alongside yours, on one framework across every centre.
The higher of permanent minimum capital and the fixed overheads requirement, with larger firms adding a requirement sized to their activity.
Reconciliations on each regulator’s cycle, with any difference reported; in Australia, a monthly director’s declaration.
In Cyprus, the Investor Compensation Fund at 0.5% of eligible client funds a year. In Australia, the complaints authority and indemnity cover of at least A$2 million per claim.
Margin limits, client agreements and disclosure of spreads and fees, with client checks, monitoring and suspicious activity reporting. See regulatory compliance.
Bespoke white-label onboarding, wallet and payment technology for new and established brokers, carrying your brand only, with every entity in a group on one platform and each client assigned by where they live.
Identity checks, source of funds, client classification and the appropriateness test for retail clients.
Each client’s cash balance, deposits, withdrawals and transfers to trading accounts, matched to the client money accounts.
Card, bank transfer and local methods routed by currency and region, with client money reconciliations and the data each return draws on.
A new broker goes live on it the day it is authorised. A licensed broker moves onto it to add entities, regions or payment methods.
An existing authorisation puts you in market with client money accounts, liquidity and a trading record in place. The regulator approves the new controller before completion.
Permissions, capital position, client money record, complaints, financial crime findings and banking, each priced into the deal.
The controller application with business plan, ownership chain and fitness evidence. In the UK, 60 working days from a complete application.
Funding for the target’s capital tier confirmed first, with governance, policies and reporting updated for the new owner.
We act for one side only. Licensed brokers and buyers with committed capital sit on our marketplace. See transactions and change of control.
The licence of the market its clients are in: a CIF licence for the EU, FCA investment firm authorisation for the UK and an AFS licence for Australia. For clients outside those markets, brokers hold a dealer licence in Mauritius, Seychelles, the BVI or Vanuatu. Many groups hold an onshore and an international licence side by side.
€75,000 or £75,000 for agency business without client money, €150,000 or £150,000 where client money is held, and €750,000 or £750,000 for dealing on own account, which covers a broker taking the other side of client trades. Larger UK firms add a requirement sized to their activity.
The BVI regulator's service standard is six weeks from a complete application, and Seychelles and Labuan each publish 30 working days, though Labuan licenses agency broking only. We plan for two to three months in Seychelles, the BVI and Labuan, and three to five months in Mauritius.
Yes. A CIF provides investment services in every EU and EEA state on one CySEC authorisation, on notification to CySEC for each state. The head office sits in Cyprus, at least two fit and proper persons direct the business, and membership of the Investor Compensation Fund is compulsory.
Yes. Dealing in or making a market in derivatives and foreign exchange contracts in Australia requires an AFS licence. A retail derivative issuer holds net tangible assets of the greater of A$1,000,000 and 10% of average revenue, with at least two responsible managers. We plan for five to eight months.
Banks and liquidity providers review the licence scope, the client money arrangements and the financial crime framework before onboarding. We arrange the client money, operating and settlement accounts and the liquidity relationships through our direct relationships: for a new broker in time for authorisation, and for a licensed broker adding currencies or regions, or replacing a provider.
The licence, the banking and the timing for your business.