Guides for brokerage founders

The three UAE regulatorsFrom this guide's sources

1. CMAFirst CategoryAED 30 million paid-up capital
2. DFSACategory 2Base capital from USD 2 million
3. DFSACategory 3ABase capital from USD 200,000
4. FSRACategory 2Base capital from USD 2 million

Labuan money broking licenceFrom this guide's sources

1. Labuan FSAPermitted activityNo dealing as principal
2. Labuan FSAPaid up capitalRM1,000,000
3. Labuan FSAClientsinstitutional investors and high net worth individuals
4. Labuan FSAClient leverageUp to 100:1

What RBI and SEBI allowFrom this guide's sources

1. RBIElectronic trading platformsa net worth of at least ₹5 crore
2. SEBIStock brokersa base net worth of Rs 1 crore
3. RBIRupee currency derivativesonly to hedge contracted exposure
4. RBIRemittance to trade forex abroadprohibited

Two regulators, two jobsFrom this guide's sources

1. SECPFutures broker licencea minimum net worth of PKR 10 million
2. PMEXCommodity futures exchangethe country's only SECP-licensed commodity futures exchange
3. State BankPayments to offshore forex platformsnot allowed

Foreign Exchange Regulation Act, 1947From this guide's sources

1. Section 4(1)Dealing in foreign exchangeno person other than an authorised dealer
2. Section 23Penaltyimprisonment of up to seven years, a fine, or both
3. Bangladesh BankVirtual asset dealingsnot permitted

Exchange control in Sri LankaFrom this guide's sources

1. CBSLWho may deallicensed commercial banks acting as authorised dealers
2. CBSLCards issued to residentsnot used for dealings in foreign exchange
3. CBSLOverseas investment, from 20 June 2026only in overseas employee share ownership plans

Kenya's online forex licencesFrom this guide's sources

1. CMADealing broker, paid up capitalKES 50 million
2. CMANon-dealing broker, paid up capitalKES 30 million
3. CMAMoney manager, paid up capitalKES 10 million
4. CMAClient leverageUp to 400 times the deposit

What South Africa asks of a CFD brokerFrom this guide's sources

1. FSCAFAIS licence, Category I applicationR2,697
2. FSCAODP authorisation applicationR53,000
3. FSCAODP equity capitalsix months of operating expenses
4. FICRegistrationthrough the FIC's goAML system

Who licenses a forex brokerage in GhanaFrom this guide's sources

1. SECLicence for broker-dealerssection 109 of Act 929
2. SECForex guidelinesat the market engagement stage
3. Bank of GhanaDealing in foreign exchangeSection 3 of Act 723
4. FICIdentity records keptat least five years

What Egyptian law says about forexFrom this guide's sources

1. FRAUnlicensed regulated activityup to five years in prison
2. CBEDealing in foreign currency outside banksthree to ten years in prison
3. CBECrypto platform without a licenceEGP 1 million to EGP 10 million
4. FRAFutures brokerage capitalEGP 50 million

Financial broker for others at the JSCFrom this guide's sources

1. JSCMinimum paid up capitalJD 3 million
2. JSCUnconditional bank suretyJD 500,000
3. JSCNet equity to paid up capitalat least 75%
4. JSCClient leverage, currencies and metals100 times the cash deposited

Bank Indonesia's forex derivatives licencesFrom this guide's sources

1. Bank IndonesiaBroker paid up capitalRp12 billion
2. Bank IndonesiaDealer paid up capitalRp30 billion
3. Bank IndonesiaForeign ownership cap49% of paid up capital
4. BappebtiSites blocked, Jan to May 2025225 domains

What the Philippine rules sayFrom this guide's sources

1. SECForex and CFD licenceNone while the suspension in Rule 11.2 stands
2. SECLicence from abroadDoes not by itself allow selling in the Philippines
3. SRCPenalty, section 73A fine of PHP 50,000 to PHP 5 million, 7 to 21 years in prison, or both
4. BSPFunding an offshore companyUp to USD 60 million a year from bank FX without prior BSP approval

What Vietnam's rules sayFrom this guide's sources

1. State BankWho may deal in foreign exchangecredit institutions, foreign bank branches and other organisations
2. Decree 340/2025Unlicensed foreign exchange activity, individualVND 200 million to 250 million
3. Decree 340/2025Same breach, organisationVND 400 million to 500 million
4. SSCCapital to broker exchange derivativesVND 800 billion

Thailand licenses no forex platformsFrom this guide's sources

1. Bank of ThailandLicence for a forex platformNone offered
2. Exchange Control ActPenalty, section 8Up to THB 20,000 or 3 years in prison, or both
3. SECUnlicensed derivatives businessUp to THB 300,000 or 3 years in prison, or both
4. Bank of ThailandA resident's own transfers to a foreign brokerUSD 5 million a year

What a Nepali founder runs intoFrom this guide's sources

1. NRBPayments abroadonly as the NRB prescribes
2. 1964 ActInvesting abroadno investment abroad of any kind
3. NRBCrypto transactionsillegal under both Acts
4. SEBONCommodities exchangeshad not yet licensed anyone