Applying For a Dubai Forex Prop Trading License – Key Takeaways

• A budget of $250,000 is recommended
• License application process takes between 5 – 7 months
• Categorized as SCA Type 5 authorization which allows for “Arrangement and Advice”
• A minimum of 3 locals are required: Compliance Officer, Promotion Officer, Head of Category who have passed local exams

• As a starting point, we will initiate a call with your team to discuss the license at length.

• If both parties agree that the license is a good fit, we’ll begin gathering the required KYC documentation in order to prepare the application.

• We’ll draft the necessary business plans and policies in order to prepare the application for the SCA to review.

• Once the application has been submitted we will keep your team posted as soon as the regulator comes back to us

• Upon successful approval, we’ll assist with the formation of a local company.

• Upon successful approval of the license, we’ll begin to set up a bank account.

• A physical office and local directors are a strict requirement
• Paid up capital is set at 500,000 AED
• Category 5 allows permissions for promotions only
• A local company is established after license approval
• The estimated timeline for approval is 5 – 7 months
• Live trading services aren’t covered by these license permissions, either the broker must upgrade or refer the business to a licensed entity