Key takeaways
- FX/CFD brokers usually apply for Full Service Dealer excluding Underwriting.
- The licence is held by a Global Business Company.
- Expect resident directors, a compliance officer, an MLRO and a local bank.
- Typical timeline: four to eight months.
Licence categories
The FSC Investment Dealer licence has several categories. Full Service Dealer excluding Underwriting is most common for brokers; broker-only categories exist for those who do not deal on own account.
Substance and officers
- At least two Mauritius-resident directors and a qualified company secretary.
- A compliance officer, MLRO and deputy MLRO.
- Registered office via a management company, and a local phone line with a receptionist.
- Multi-currency bank accounts and PSP accounts for payments.
- Annual licence renewals, audit and FSC reporting.
A licensed management company can provide the directors, secretary, officers and office as a service.
From FSC licence to MT5
The licence confirms the activity requirement; the rest of the MetaQuotes checklist still applies. See Mauritius forex licence.