Regulators： Cyprus Securities and Exchange Commission

Regulatory region： CYPRUS

License Type： STP/MM

Application price (USD)： ***

Application frequency： 4–9 months

Maintenance costs (USD)： ***

Company summary： The process of obtaining forex license in Cyprus consists of the following steps: registration of the company support in obtaining a license opening a bank account preparation of instructions on AML and business plan AML Officer with appropriate qualifications and knowledge

Product details： Cyprus Securities and Exchange Commission (CySEC) is the regulatory body Licensing process: 4–9 months HOW TO OBTAIN A FOREX LICENCE IN CYPRUS Register a company and obtain a CIF – Cyprus Investment Firm license Open a corporate bank account Prepare and submit license documents for CySEC application REQUIREMENTS A certain amount of money must be allocated to Investor Compensation Fund (ICF) by all licensed brokers There must be at least three local directors in the physical office Applicants must own and use their own exclusive website to conduct online activities Ensure qualified personnel are employed, including AML officers, compliance officers, risk managers, internal and external auditors. Fees for government services begin at EUR 9,000 The minimum share capital required for a Standard License (agent broker) is 125 000 euros The full license (marker creator) requires a minimum share capital of 750 000 euros