All about STP Broker License in The Bahamas

The regulatory body responsible for issuing licenses and monitoring financial services activities is the Securities Commission of The Bahamas, also known as the SCB.

Broker - Straight-Through-Processing of orders in the case of an Agency or A-Book model.

Capital Requirements

The minimum capital requirement for Dealing as Agent (Broker) only is USD 120,000, and for Market Maker it is USD 300,000.

Physical Presence Requirements

If engaging in the business of dealing or arranging deals, you must have a physical presence in The Bahamas.  You must also designate a Compliance Officer and a Chief Executive Officer who must be located in The Bahamas.  Each must pass fit and proper tests and be approved persons by the regulator.

Approved Persons

The experience and qualifications of the personnel constitute one of the most important elements of a successful application.  It is very important to be able to locate and select qualified individuals, who would constitute the minimum required key personnel of your firm.  And, these individuals must be approved by the regulator.

Other Requirements

The regulator requires you to disclose most all aspects and details of your business.  AGP’s business is to ensure you meet the regulators requirements, and we will review what you currently have or complete what is needed for you, including:

  • Business and Financial Plan
  • Supervisory and AML/CTF Manuals
  • KYC of beneficial owners, directors, controllers and affiliates
  • Proof of Professional Indemnity Insurance

Reporting and Auditing Requirements

  • Annually, an audited financial statement
  • Quarterly, interim financial statements prepared in accordance with generally accepted accounting principles
  • As needed, any material changes to the firm, its operations or people.

  • 2 to 4 months from submission.

Can operate with local or international banks.

When you engage with us, our scope of service covers all of the aspects you need in order to get your forex broker licence:

  • Provision of Regulatory Guidance
  • Company incorporation
  • Approved Person’s fit and proper tests
  • Employing local directors, officers and staff
  • Establishing an office
  • Facilitating bank accounts opening
  • Introduction to accountant and auditor services
  • Management and supervision of the application
  • Preparation of all legal documents including client business terms, compliance manuals, employment and outsourcing agreements.

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