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At the legislative level in Estonia, services such as Forex brokerage are classified as investment. For a company that wants to provide these services, it is necessary to obtain an EFSA license. Thus conditions are regulated in accordance with domestic Securities Market Act, and MIFID the EU directive on financial instruments in the EU markets.
FOREX LICENSE EFSA
Types of activities for investment licenses:
- for companies with securities operations;
- e-money services
- forex broker services;
- stock market.
The company, having received a license EFSA can carry out its activities in any country in Europe. To do this, you must specify the name of the region where the company’s work will develop, as well as provide a plan for which the work will take place. These data provided to the supervisory authorities.
There are certain capital requirements for the company. When providing the relevant services, the capital of the company should be as least 50,000 euros.
The securities under the law in Estonia are:
- Shares in an investment fund;
- Shares in circulation;
- IOUs, convertible securities;
- Money market instrument;
People who occupy a leading role in the management of a company should not have criminal offenses. They must meet the requirements of the company.
EMPLOYEES OF THE FOREX BROKER COMPANY
Director of the company hires an employees to manage a forex broker company. The company must consist of at least two employees. The employee must have education, work experience, good reputation.
Requirement for compane employees:
- A company with experience in investment services;
- Investment manager;
- An individual providing investment services and to which investment companies submit;
- Investment agent performing the services of this activity.
To apply for an EFSA license, you need to collect a full package of documents on behalf of the director of the company. Applications are processed from 3 to 6 months. The state deposit for submitting the application amounts to 1,000 euros.
Eternity Law international will gladly help you with forex broker license, and our specialists will answer all your questions. Take advantage of our many years of practical experience – save your time and your money.
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The information presented in this section is provided for general informational and B2B purposes only. Licensed or regulated companies listed here may be offered for sale by their respective owners or other third parties.
The Company does not sell, issue or provide licences, authorisations, registrations or the underlying regulated services. Any existing licence, registration, authorisation or regulatory status remains subject to applicable law and, where required, regulatory approval, notification, change-of-control, re-registration or other procedures imposed by the competent authority.
The Company acts solely as an independent provider of legal, consultancy and transaction support services and may assist with due diligence, transaction structuring, documentation, ownership transfer, re-registration and related legal or regulatory support.
No listing constitutes financial, investment or brokerage advice, or a guarantee that any licence or regulatory status may be transferred, maintained or used by a prospective purchaser.