Cyprus is one of the most attractive jurisdictions that forex brokers can prefer when extending into the EU. This is because a CySEC forex license enables brokers to market, take client deposits, and rightfully build a presence in all EU member states. Applying for a forex broker license in the EU is a huge determination, making it essential to choose a partner carefully. Due to our industry expertise and experience, Startupformations is the best companion to help your brokerage with getting a forex broker license in Cyprus.
Incorporation & obtaining a license: from 5 to 9 months
Minimum paid-up capital: 110,000.00 Pound or 640,500.00 Pound it solely depends on the license type you select(STP or MM)
License government form fee: 3,500.00 pounds+VAT
Investors compensation fund: 17500.00- 26500.00 Pound (approx.)
License renewal government fee: 3,500.00 pounds+VAT
CySEC is the Cyprus Securities and Exchange Commission, the government regulatory agency that issues all Forex licensing in Cyprus. CySEC Cyprus is considered one of the leading Forex governmental licensing agencies in the world. Most of the top Forex and Binary Options companies hold a CySEC license for their operations both within and outside the EU.
- Standard license –approx. 110,000.00 Pound, the broker can handle clients’ money, however, cannot trade on its own account;
- Full license – requires approx. 640,500.00 Pound – a broker can trade on its own account;
Depending on the permit type, side fees may change.
As an extra benefit, all CIF organizations are authorized to Passporting, i.e. opening of offices in other EU member states without having to purchase a local license.