15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FSRA permission, including banking and payment rails.
Forex license in Abu Dhabi: FSRA permission in ADGM.
A forex license in Abu Dhabi is a Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). A market maker needs USD 2 million of base capital; no statute fixes a decision date. The FSRA is not minded to approve start-ups for retail leveraged FX and CFDs, so a new firm begins with Professional Clients. We build the file in Abu Dhabi.
Updated · Reviewed by the Prifinance team
Forex license in Abu Dhabi: Professional Clients first, retail after a track record.
Abu Dhabi licenses forex and CFD brokerage inside Abu Dhabi Global Market (ADGM), which runs three independent authorities of its own: a Registration Authority (RA), the FSRA and the ADGM Courts. The law is the Financial Services and Markets Regulations 2015 (FSMR), broadly modelled on the UK's Financial Services and Markets Act 2000. Section 16(1) forbids carrying on a Regulated Activity in ADGM by way of business without authorisation or an exemption, and s.21 makes an agreement made in breach unenforceable against the other party. The FSRA regulates by activity. A firm holds one Financial Services Permission (FSP) listing what it may do, so there is no forex or CFD licence as such; Contracts for Difference are a product box on the application form. A market maker applies for Dealing in Investments as Principal (not as Matched Principal) and lands in prudential Category 2, at USD 2 million of base capital. A matched-principal or agency broker sits in Category 3A on USD 500,000.
Retail is where ADGM closes the door on new firms. In supplementary guidance of December 2023 the FSRA says it is not minded to grant approvals to start-up operations seeking to provide OTC leveraged products to Retail Clients, given their lack of a track record. It also sets an experience bar in similar products, in an equivalently regulated environment: ten years for the Senior Executive Officer (SEO), seven for each director, five for senior managers, the Compliance Officer and the MLRO. A new firm therefore starts with Professional Clients. Established groups can take retail on the terms the FSRA formalised in its rulebooks on 30 November 2022: margin from 3.33% on major currency pairs (30:1) to 50% on virtual assets (2:1), close-out at half the margin, negative balance protection, no bonuses. The retail add-on costs USD 40,000 to apply and USD 40,000 a year, and a matched-principal broker dealing OTC derivatives with Retail Clients needs USD 2 million, not USD 500,000.
A Financial Services Permission from the FSRA under FSMR 2015: Category 2 at USD 2 million for a market maker, Category 3A at USD 500,000 for matched principal, USD 40,000 to apply for dealing, no statutory decision period.
The FSRA is not minded to approve start-ups for retail OTC leveraged products and expects 10 years from the SEO, so a new firm starts with Professional Clients. Retail adds USD 40,000 a year and a 30:1 to 2:1 margin table.
Retail dealing for groups with a record, Professional Clients for new firms.
One FSP, priced by activity and by client. The FSRA charges a principal dealer USD 40,000 to apply, then adds USD 5,000 for OTC leveraged products sold to professionals or USD 40,000 where Retail Clients are in scope, so the client book moves the bill as much as the dealing model does.
Retail market making for groups; Professional Clients for new firms.
The retail market maker
A firm that takes the other side of retail CFDs holds Dealing in Investments as Principal (not as Matched Principal) together with the retail OTC permission. Its base capital is USD 2 million in Category 2, and it must also meet the Risk Capital Requirement in PRU. FSRA fees come to USD 80,000 to apply and USD 90,000 a year.
A firm that takes the other side of retail CFDs holds Dealing in Investments as Principal (not as Matched Principal) together with the retail OTC permission. Its base capital is USD 2 million in Category 2, and it must also meet the Risk Capital Requirement in PRU. FSRA fees come to USD 80,000 to apply and USD 90,000 a year.
- ✓Dealing as principal, not matched
- ✓USD 2 million base capital · Category 2
- ✓USD 80,000 to apply · USD 90,000 a year
- ✓SEO 10 years · directors 7 · CO and MLRO 5
- ✓30:1 on major pairs down to 2:1 on crypto
- ✓Realistic for groups with a retail record
The professional book
A new firm serves Professional Clients only, either as a Category 3A matched-principal or agency broker on USD 500,000 or as a Category 2 market maker on USD 2 million. Its OTC add-on is USD 5,000 a year, not USD 40,000. Retail comes later through a variation of the FSP, once the people and the record meet the FSRA's bar.
Category 3A at USD 500k or Category 2 at USD 2M; USD 5,000 OTC add-on; retail later by FSP variation.
- ✓Professional Clients, no retail book
- ✓Category 3A · USD 500,000 base capital
- ✓Category 2 · USD 2 million to make markets
- ✓OTC add-on USD 5,000 to apply and yearly
- ✓Matched principal or agent · USD 25,000 fee
- ✓Retail later · FSP variation fee USD 5,000
Costs and timelines are confirmed for your case before any work begins. The FSRA may charge a supplementary fee for a complex application, and its fee rules name a start-up profile among the reasons; ADGM registration and commercial licence fees are confirmed in the quote. FEES and GEN are under consultation until 6 November 2026 (CP No. 6 of 2026).
What ADGM gives a CFD broker, and what it asks before retail.
ADGM puts its fees, its capital tiers and its retail terms into FSRA rulebooks, so a founder can price most of the build before the first meeting with a case officer.
The FSRA licenses by activity. A broker's FSP names each Regulated Activity, from Dealing in Investments as Principal or as Agent to Providing Custody, and the products, with Contracts for Difference a box of their own. A permission left unused for 12 months can be varied or cancelled under FSMR s.33(1)(c).Activities listed; CFDs a product box.
The Fees Rules price each activity: USD 40,000 to apply and USD 50,000 a year to deal as principal, USD 25,000 each way as matched principal or agent. A second activity adds the lesser of USD 10,000 or its own fee. The FSRA treats an application as submitted only once the fee is paid.USD 40,000 to apply for dealing.
Before November 2022 each retail OTC firm in ADGM worked under more than twenty licence conditions written into its own FSP. The FSRA then turned those conditions into rulebook provisions, so one margin table and one close-out level apply to every firm dealing with Retail Clients.Licence conditions became rulebook provisions.
UAE corporate tax reaches ADGM firms at 0% on the first AED 375,000 of taxable income and 9% on the rest, under Federal Decree-Law No. 47 of 2022. Dividends to a foreign parent leave with 0% withholding.0% withholding on dividends abroad.
FSMR is broadly modelled on the UK's Financial Services and Markets Act 2000. Under it the FSRA's rulebooks divide the work: conduct in COBS, prudential rules in PRU, fees in FEES and money laundering in its own AML rulebook.FSMR modelled on FSMA 2000.
The FSRA is not minded to approve start-ups for retail OTC leveraged products, and it would discourage applicants who miss its experience criteria. Ten years for the SEO is the headline figure. A team without that history files for Professional Clients.FSRA not minded to approve retail start-ups.
How Abu Dhabi differs from other routes.
Dubai's DFSA sets the same capital tiers as the FSRA: USD 500,000 for Category 3A and USD 2 million for Category 2. A market maker needs £750,000 of own funds in the UK and €750,000 of initial capital in Cyprus, and both tax profit at 15% or more, against the UAE's 9%. In ADGM, retail also needs a track record, set out in the FSRA's own guidance.
| Feature | Abu Dhabi | Other jurisdictions |
|---|---|---|
| Market-maker capital | USD 2 million · FSRA Category 2 | USD 2 million DFSA · £750,000 UK · €750,000 Cyprus |
| Agency or matched principal | USD 500,000 · USD 2 million matched principal with retail | USD 500,000 DFSA Category 3A · UK £75k-£150k agency, £750k matched principal |
| Retail CFD terms | 30:1 to 2:1 · 50% close-out · retail start-ups unlikely | 30:1 to 5:1 UK (PS19/18) · 30:1 to 2:1 Cyprus |
| Corporate tax | 9% above AED 375,000 | 9% Dubai · 25% UK (19% small) · 15% Cyprus (2026) |
| Country | License type | Taxation | Requirements |
|---|---|---|---|
Abu Dhabi · ADGM | FSRA permission (FSP) · Category 2 or 3A | 9% CIT above AED 375,000 | USD 500k-2M, retail needs a track record |
Dubai · DIFC | DFSA Category 3A or 2 | 9% CIT | USD 500k-2M, common law |
United Kingdom | FCA investment firm | 25% CIT · 19% small | £75k-£750k own funds, PS19/18 |
Cyprus | CySEC CIF | 15% CIT (2026) | IFD €75k-€750k, EU passport |
Abu Dhabi · ADGM
Dubai · DIFC
United Kingdom
CyprusForex licences in neighbouring jurisdictions
All 79 forex licence jurisdictions →
How to start a forex brokerage: license, capital and steps →
Forex license requirements in Abu Dhabi: what the FSRA checks.Abu Dhabi forex license requirements.
The FSRA's application form (GIRA) and its Getting Started Guide of May 2025 lay out the file; the December 2023 guidance adds the tests for retail OTC business. Each point below is a section of that file.
Reflects FSMR, the GIRA form as updated on 14 September 2026, the Getting Started Guide (May 2025), FEES VER16.181223 and the December 2023 guidance, as of October 2026. CP No. 6 of 2026 may change FEES and GEN, so we check the fee rules again before filing.FSMR + GIRA (14.09.2026) + FEES VER16.181223 + December 2023 guidance, as of October 2026.
Official sources
Regulator pages, legal texts and public registers the figures on this page are based on.
- LawUAE Ministry of Finance - Ministerial Decision No. 229 of 2025 on Qualifying Activitiesmof.gov.ae
- RegulatorADGM FSRA - Regulatory update: OTC Leveraged Products implementationadgm.com
- GuidanceADGM FSRA - Getting Started Guide (fees, capital, residency, process)assets.adgm.com
- GuidanceADGM FSRA - Supplementary Guidance: Authorised Persons dealing in OTC Leveraged Products for Retail Clientsassets.adgm.com
- FeesADGM FSRA - Fees Rules (FEES) VER16.181223assets.adgm.com
From the first FSRA meeting to the permission.
Initial meetings with FSRA case officers settle the activities, the category and the client book, Professional Clients or retail, before any form is filled in.Category and client book fixed.
When the Authorisation team considers the firm ready, it opens the FSRA Connect portal for the GIRA core form, the activity supplements and an APS form for each Approved Person.Portal opened when ready.
The FSRA invites payment, and the assessment starts once the fees are in. Written queries follow, then interviews with the Approved Persons.Fees paid, queries, interviews.
On a recommendation to its Authorisation Committee, the FSRA grants in-principle approval with conditions: share capital, staff, registration with the RA, a commercial licence and fitted-out premises.Conditions to meet.
With the conditions met, the FSRA grants the FSP by written notice stating the date it takes effect (FSMR s.41). The first annual fee is prorated; later ones fall due by 31 January.Written notice, effective date.
FSMR's permission sections set no decision period, and in-principle approval comes with conditions that must be met before the FSP is granted. We plan for 9-12 months from the first FSRA meeting to the permission for a Professional Clients firm.
Run from our Abu Dhabi office.

Financial-services applicants go to the FSRA before the Registration Authority, which registers the company after the FSRA has approved. We open the case with the FSRA's case officers and form the ADGM company as a condition of the in-principle approval.Company registered after approval.
The GIRA core form, a supplement for each activity, an APS form for every Approved Person and the three-year projections, drafted by us and carried through the FSRA's queries and interviews.GIRA, supplements, APS forms.
A UAE-resident SEO, Compliance Officer and MLRO, recruited or prepared with the client, and premises on Al Maryah or Al Reem Island fitted out before the permission takes effect.UAE residents, island office.
The 9% corporate tax model with the free-zone test run per structure, and an AML programme written to Federal Decree by Law No. 10 of 2025 rather than the 2018 decree-law it replaced.9% model, 2025 AML law.






Taxation of forex brokers in Abu Dhabi.
An ADGM broker pays UAE federal corporate tax at 9% above AED 375,000, and the 0% free-zone rate is unlikely to reach its dealing income.
Federal Decree-Law No. 47 of 2022 taxes income up to AED 375,000 at 0% and the rest at 9% (Art. 3(1); threshold in Cabinet Decision No. 116 of 2022). The threshold counts once per taxable person, however many businesses it runs.Above AED 375,000.
A Qualifying Free Zone Person pays 0% on qualifying income only. Ministerial Decision No. 229 of 2025 does not list dealing for clients among qualifying activities and excludes transactions with natural persons, so a retail broker is unlikely to qualify; we confirm it per structure.Unlikely for a retail broker.
Non-qualifying revenue may not exceed 5% of total revenue or AED 5 million, whichever is lower. A firm that crosses the line loses the status for that tax period and the four after it.5% or AED 5 million.
Wealth and investment management under a Competent Authority's oversight is a qualifying activity even with natural persons as clients, and the FSRA is one of four Competent Authorities. A group's management arm can reach 0% where its dealing arm cannot, if it meets the Art. 18 conditions.Can qualify under Art. 18.
Art. 45(1), as replaced by Federal Decree-Law No. 40 of 2024, sets withholding tax on a non-resident's UAE-sourced income at 0%. Dividends reach a foreign parent without deduction.On dividends abroad.
Cabinet Resolution No. 142 of 2024 adds a domestic top-up tax from 1 January 2025, for multinational groups with revenue of EUR 750 million or more in two of the four preceding years. A start-up broker is outside it.EUR 750m groups only.
*As of 2026 per Federal Decree-Law No. 47 of 2022 as amended, Cabinet Decision No. 116 of 2022, Ministerial Decision No. 229 of 2025 and Cabinet Resolution No. 142 of 2024. Group and founder-level outcomes are modelled per structure.
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Builds the application itself: ADGM private company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed broker.
Active across our channels.
Get your forex license in Abu Dhabi with expert support.
Full-service assistance - from the first FSRA meeting and the FSRA Connect file to in-principle approval, RA registration and the permission - run through our Abu Dhabi office.
Get a consultation →Is Abu Dhabi the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
ADGM, the FSRA and retail CFDs: what founders ask.
What licence does a forex broker need in Abu Dhabi?+
A Financial Services Permission (FSP) from the FSRA under FSMR. ADGM has no separate forex or CFD licence: the FSP lists Regulated Activities, and a market maker applies for Dealing in Investments as Principal (not as Matched Principal), which puts it in Category 2 with USD 2 million of base capital.
Can a start-up offer CFDs to retail clients from ADGM?+
Not in practice. The FSRA's guidance says it is not minded to approve start-ups that want to offer OTC leveraged products to Retail Clients, because they have no track record. A new firm applies for Professional Clients only and adds retail later by varying its FSP.
What experience does the FSRA expect for retail CFD business?+
Ten years for the Senior Executive Officer, seven for each director, executive or not, and five for senior managers, the Compliance Officer and the MLRO. The years must come from dealing with Retail Clients in similar products under an equivalent regulator, backed by a relevant qualification and professional-body membership.
How much capital does an ADGM CFD broker need?+
USD 2 million of base capital for a Category 2 market maker and USD 500,000 for a Category 3A matched-principal or agency broker, rising to USD 2 million where it deals as matched principal in OTC derivatives with Retail Clients. In both categories the firm must also meet the Risk Capital Requirement in PRU.
How long does a forex license in Abu Dhabi take?+
There is no statutory deadline: FSMR's sections on permissions (ss.27-41) set no decision period. The FSRA works through meetings, a portal application, queries, interviews, its Authorisation Committee and an in-principle approval with conditions. We plan for 9-12 months for a Professional Clients firm; the RA expects to approve a company registration within 10 business days of complete documents.
What does a forex license in Abu Dhabi cost?+
The FSRA charges USD 40,000 to apply and USD 50,000 a year to deal as principal, plus USD 5,000 each for OTC leveraged products sold to professionals, or USD 40,000 each with Retail Clients. Each Approved Person costs USD 500 and a market maker holds USD 2 million of base capital; ADGM registration and licence fees are confirmed in the quote.
Which retail CFD rules apply in ADGM?+
The FSRA's OTC leveraged products rules, implemented on 30 November 2022: margin of 3.33% on major currency pairs (30:1) up to 50% on virtual assets (2:1), close-out at 50% of margin, negative balance protection, no bonuses, no paid referrals from unregulated introducers, credit-card funding blocked as far as possible, and the share of profitable retail accounts disclosed for each of the last four quarters.
How is a CFD broker in ADGM taxed?+
At the UAE's 9% corporate tax above AED 375,000 of taxable income. The 0% rate for a Qualifying Free Zone Person is unlikely to fit a retail broker, since dealing is not a qualifying activity and transactions with natural persons are excluded; we confirm it per structure. Dividends paid abroad carry 0% withholding.
Abu Dhabi or Dubai for a professional-clients CFD broker?+
On capital the two centres are level: the DFSA asks USD 500,000 for Category 3A and USD 2 million for Category 2, as the FSRA does. Dubai suits a team that already works there, since we run DFSA files from our own office in Al Saqr Business Tower. ADGM keeps its fees in one rulebook and its retail terms in another, which sets most of the FSRA budget before filing.
Why Prifinance for Abu Dhabi?+
We open the FSRA case, build the FSRA Connect file with its projections and APS forms, and line up the UAE-resident SEO, Compliance Officer and MLRO the permission needs. The work runs through our Abu Dhabi office, with our Dubai office, which handles DFSA files, behind it.
What licence?+
FSRA permission (FSP) under FSMR.
Retail start-up?+
FSRA not minded; start with professionals.
Experience?+
SEO 10, directors 7, CO and MLRO 5.
Capital?+
USD 2M Category 2; USD 500k 3A.
How long?+
No statutory clock; 9-12 months planned.
Cost?+
Market maker: USD 45,000; USD 80,000 with retail.
Retail rules?+
30:1 to 2:1, 50% close-out.
Taxes?+
9%; free-zone 0% unlikely.
Or Dubai?+
Same tiers; our own office there.
Why you?+
Abu Dhabi office, FSRA file built.
Founders who wanted it done right.
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”

“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”

“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”

“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”

“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”

“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”

One message away from your Abu Dhabi forex licence.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which FSRA permission fits your client book and what it will cost.
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.