Market Maker Broker License United Kingdom

Financial Conducts Authority (FCA) - Authorised under the Financial Services and Markets Act 2000 (FSMA) and the EU Markets in Financial Instruments Directive.

• FX Brokerage and Marker Maker Operations (Binary Options not included)
• Reception, Transmission and Execution of Orders on behalf of clients
• Holding client funds
• Portfolio Management and advising on investments
• Dealing in investments as agent
• Safekeeping and administration of financial instruments for the account of clients, including custodianship
• Underwriting and placing of financial instruments on a firm commitment basis
• Dealing on Own Account
• Operation of Multilateral Trading Facility.

• The Applicant must be a company or partnership incorporated in the UK.
• Physical operational office must be situated in the UK (mandatory); directors, senior management and major administrative functions must also be situated in the UK.
• Capital requirement: €730,000 to be deposited in a local bank during application process; subject to BIPRU calculation.
• Minimum personnel is one (1) but depends on the Company’s day to day operations. Minimum functions to be established:
• Two Directors (other than a non-executive director) with experience in the investment industry
• Non Executive Director
• Partner (if partnership)
• Chief Executive
• Compliance Oversight (can be outsourced)
• Client Assets Oversight
• Money Laundering Reporting
• Customer Function
• Usually one employee per above functions is customary.
• Upon authorisation, the firm may apply for a regulatory passport to establish a branch in the EEC or to provide cross-border services.
• Audited accounts to be submitted on an annual basis.
• Internal and external auditors have to be appointed.
• Employees (including management and traders) have to be assessed for fitness and probity under the Approved Persons Regime, and to be employed on a full-time basis.
• Upon authorisation the company must be registered with the Financial Services Compensation Scheme.

The experienced professionals of our FS Advisory Team and UK network assist our clients on the following:

• Consulting on investment services to be included in the application as well as on the design of the investment firm structure;
• Registration of specially drafted Memorandum of Association for an FX Investment firm;
• Completion of the Application Form and check-lists to be submitted to the FCA;
• Preparation and drafting of the required Internal Operations Manual according to FCA and MiFID regulations;
• Assistance on the preparation and drafting of the Business Plan and the Financial Projections;
• Preparation of the Applicant’s Money Laundering Manual;
• Assistance in the preparation of the company shareholder, director and senior management Questionnaires;
• Follow-up during the process of assessment by the FCA;
• Assistance on recruitment of executive and non executive directors, senior management and other members of the Company's departments;
• Assistance on appointment of outsourced Compliance Officers, Accountant(s), Internal & External Auditors;
• External legal consultancy on an on-going basis.