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Apply for a Forex Broker License in Singapore

Singapore is one of the fastest growing states, where it is prestigious to obtain a license for the provision of financial activities. In this article, we will tell you how to obtain a Forex broker license in Singapore (CMS License).

To find out the details, we recommend that you carefully read the prepared material, as well as order legal advice on obtaining a CMS license.

The regulation of Forex broker activities in Singapore

If you intend to trade in the Forex market, then obtaining a Forex broker license in Singapore can be the beginning of a successful business in this area.

The main regulator overseeing the financial services industry is the MAS. By applying to the MAS, companies can obtain a Capital Market Services license in Singapore.

Forex brokers should cooperate only with financial institutions and banks, which are regulated by the MAS. If you plan to register a Forex trading business, then obtaining the above license will become a prerequisite for you to conduct further activities.

It is also important to know that in order to successfully obtain a Forex broker license, your business must pass a check for compliance with the rules established by the MAS.

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Conditions for acquiring a Singapore Forex broker license

Only those enterprises that have met the following requirements of the financial regulator can obtain a brokerage license in Singapore:

  1. Have appointed 2 directors (1 resident), CEO, whose experience in providing financial services is at least 10 years (resident of Singapore), as well as 2 local employees;
  2. Have prepared a detailed description of the business plan of a company applying for buying a CMS license in Singapore;
  3. Have created a reliable risk management system and other important systems;
  4. Have the necessary financial resources;
  5. Have passed the MAS check for compliance with certain criteria.

The list of requirements is not exhaustive. You can find out the details when studying these Guidelines, as well as ordering personal advice on obtaining a license for Forex broker activities in Singapore.

Separately, it is worth noting that individuals cannot directly obtain a Forex broker license. To conduct brokerage activities, an individual entrepreneur must either register a Forex company or buy an existing company in Singapore.

Requirements for the company's authorized capital and registration fee

If you plan to order a CMS license in Singapore, then you will need:

  • From SGD 500 thousand (~ EUR 32 thousand) to SGD 5 million (~ EUR 3.2 million). The amount of required capital is determined individually;
  • The fee for obtaining a brokerage license in Singapore is SGD 1,000 (~ EUR 630). Annual license fee: SGD 2-8 thousand.

The tentative dates for obtaining a Forex broker license: 4 months.

IQ Decision Services

For entrepreneurs who decide to conduct business in this jurisdiction, our experts recommend asking for individual advice on obtaining a Capital Market Services license in Singapore.

Also, we are ready to provide legal assistance in registering a Singapore company and legal support in acquiring an existing business in Singapore. You can learn the details by filling out the form below.

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

  • Still have any questions?

    Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.

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