Turks And Caicos Forex Broker License
The Turks and Caicos islands have a well established history of financial services regulation, spanning over 25 years. In 2001, the Investment Dealers (Licensing) Ordinance (IDLO) kickstarted the regulation of financial services providers, paving the way for today’s current regulatory framework. A forex broker license in Turks and Caicos is both prestigious given such a long history as well as unique. The ideal fit for this license will be an established forex & CFD broker with existing regulation in either Asia or Europe.
How to Obtain an Offshore Forex License in Turks And Caicos?
- To start the process, one of our consultants will speak with your team about the license, providing a high level overview of costs, timeframes, and regulatory requirements in Turks And Caicos.
- There are 4 main types of licenses in Turks And Caicos: Investment Advisory, Investment Dealer (Execution Only), Investment Dealer (Full License) and Fund Management. During our discussion, we’ll help your team select the license that best fits your needs.
- If it is determined that Turks And Caicos is the right fit, we’ll then prepare an engagement letter and also request some basic KYC (Know Your Client) documentation in order to learn more about your brokerage.
- After reviewing your broker’s documentation, we’ll then prepare the license application for submission.
- During the application process our team will communicate any updates from the FSC as soon as they are received.
- Once the license has been approved, we’ll proceed to assist your brokerage in establishing a local bank account.
Turks And Caicos Islands Investment Dealers License – Key Facts
- A physical office in Turks And Caicos which includes a local compliance officer is a regulatory requirement
- Forex brokers licensed in Turks And Caicos must obtain professional indemnity insurance
- All licensed Investment Dealers must maintain a minimum capital requirement of $250,000
- It is possible to obtain an “Execution Only” which allows solely for matched principal / STP risk permissions
- Experience has shown it will take approximately 4 – 6 months to obtain a forex broker license in Turks And Caicos
Atomiq Consulting – Your Forex Broker Licensing Partner
Founded in 2014, Atomiq Consulting leverages its professionalism and years of experience in the online forex trading industry to deliver its clients the best guidance and know-how related to offshore and continental forex broker licenses. Our positive track record, professionalism, and experience make Atomiq Consulting the ideal partner to guide you in obtaining a forex broker license in the Turks And Caicos or your offshore jurisdiction of choice.
Contact Us Today In Order To Learn More About Obtaining a Forex Broker License in the Turks And Caicos
If you would like to explore the license application process in more detail, discuss timelines, or address any other questions related to the an FX broker license in Turks And Caicos, don’t hesitate to contact our team of license consultants today!
FAQ Related to Obtaining a Forex Broker License in Turks And Caicos
Are there any brokers currently for sale in Turks And Caicos?
In addition to license consultation services, we are also able to assist our clients with the acquisition of an active or dormant offshore licensed broker. Because our offers vary based on availability in the market, it is best to contact us directly to explore this opportunity further.
What types of licenses are available in Turks And Caicos?
There are 4 types of licenses one can obtain in Turks and Caicos: Investment Advisory, Investment Dealer (Execution Only), Investment Dealer (Full License) and Fund Management. Contact our team to discuss the license that is the best fit for your brokerage.
What is the name of the regulator which administers financial services in Turks And Caicos?
The Turks And Caicos Islands Financial Services Commissions (FSC) is responsible for financial services regulation.
What is the required paid up capital for FX brokers licensed in Turks And Caicos?
$250,000.
Which offshore forex broker license jurisdictions are similar to Turks And Caicos?
Forex brokers considering offshore licensing options may also be interested in applying for a forex broker license in the British Virgin Islands (BVI). An additional consideration would be a Seychelles forex license.
How long does it take to obtain a forex license in Turks And Caicos?
Once all documents have been received, a license is generally approved within 6- 8 months. Note that the specific approval time is very much dependent on the applicant and is determined on a case by case basis.
Which law governs forex trading & CFD trading in Turks and Caicos?
Forex in Turks And Caicos is regulated by the Investment Dealers (Licensing) Ordinance 2001 (IDLO).
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