Get a forex license in Denmark.

A forex licence in Denmark is a fondsmæglerselskab licence from the Danish Financial Supervisory Authority (Finanstilsynet), granted under the lov om fondsmæglerselskaber og investeringsservice og -aktiviteter as consolidated in LBK nr 467 of 26 April 2026. CFD and FX brokerage has no separate category, and start capital runs from €75,000 to €750,000 by model. Section 22 writes the clock into the statute: a reasoned refusal within six months of a complete file, and a decision within 12 months of receipt in every case. Corporate tax is 22% in 2026. We run the file through our Copenhagen office.

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Denmark in brief

A Finanstilsynet licence with its deadlines in § 22.

Section 13 of the Danish act on fondsmæglerselskaber and investment services - LOV nr 1155 of 8 June 2021, consolidated most recently as LBK nr 467 of 26 April 2026 - decides who needs a forex licence in Denmark. Anyone who provides the bilag 1, afsnit A investment services as a regular business, in bilag 2 instruments, is a værdipapirhandler; outside banks and mortgage institutions, that means a fondsmæglerselskab licence. CFDs and currency derivatives are bilag 2 instruments. There is no separate forex or CFD licence. The text has been consolidated three times since 2024. Its § 18 stk. 1 copies the IFD capital classes: €750,000 for dealing on own account, €150,000 where client money is held, €75,000 where none is. Under § 19 the €75,000 firm must confirm each year that it still holds none. Only a licensed firm may be called a fondsmæglerselskab, and every licensed firm must be (§ 17).

The Danish detail sits in two statutes. Section 22 of the Act sets the clock: Finanstilsynet must give reasons for a refusal within six months of receiving the application or the missing information, and must decide within 12 months of receipt in every case. An applicant with no decision six months after a complete file may go to court. Chapter 22 of the lov om finansiel virksomhed (FIL, LBK nr 650 of 9 June 2025) sets the levy: 10.5 per mille of salary, commission and directors' fee costs, with a floor written as DKK 15,000 at 2016 level and indexed every year, plus balance-sheet pools for firms dealing on own account. The market is small. Finanstilsynet counted 59 fondsmæglerselskaber at December 2025, 16 in IFR class 2 and 43 in class 3, on a list dominated by asset managers. And § 20 stk. 2 lets it refuse a firm whose Danish seat only avoids the law of the country where most of its clients live.

Fondsmæglerselskab licence from Finanstilsynet under LBK nr 467/2026: IFD capital €75k/€150k/€750k, ESMA retail CFD rules, EEA passport. Section 22: refusal within six months, decision within 12.

Levy of 10.5 per mille of payroll, floor indexed from DKK 15,000, plus pools for dealers. 59 firms at December 2025, 16 in class 2. Corporate tax 22%.

The two builds

Afsnit A nr. 3 at €750,000 - or an agency licence below it.

One fondsmæglerselskab licence, priced in capital by § 18: the services you list decide the class, and the class decides whether the FIL balance-sheet pools apply. We settle the model before a page of the file is drafted.

Own account at €750,000 - or agency at €150,000 or €75,000.

01 - DEALING ON OWN ACCOUNT

The market-making fondsmæglerselskab

In Denmark a CFD market maker needs afsnit A nr. 3, dealing on own account. That brings €750,000 start capital under § 18, IFR class 2 with the full K-factor calculation, and a share of the FIL balance-sheet pools that such dealers split with banks and mortgage institutions.

In Denmark a CFD market maker needs afsnit A nr. 3, dealing on own account. That brings €750,000 start capital under § 18, IFR class 2 with the full K-factor calculation, and a share of the FIL balance-sheet pools that such dealers split with banks and mortgage institutions.

  • ✓Afsnit A nr. 3 - dealing on own account
  • ✓€750,000 start capital - § 18
  • ✓IFR class 2, K-NPR and K-TCD modelled
  • ✓Balance-sheet levy pools, indexed yearly
  • ✓CFD measure - ESMA opinion 23 July 2019
  • ✓Passport to 30 EEA states
Start the own-account route →
02 - AGENCY · STP
€75k-€150k start capital

The agency fondsmæglerselskab

A Danish agency fondsmæglerselskab offers reception and transmission, execution and portfolio management without a dealing book: €150,000 where it holds client money, €75,000 where it holds none and files the yearly § 19 declaration. It stays outside the FIL § 361 pool for dealers.

RTO and execution; €150k with client money, €75k without plus a yearly § 19 declaration.

  • ✓RTO and execution - the A-book model
  • ✓€150,000 with client money
  • ✓€75,000 without - yearly § 19 declaration
  • ✓Payroll levy, no dealers' pool
  • ✓Same passport, same CFD measure
  • ✓Own-account dealing added later
Scope the agency route →

Costs and timelines are confirmed for your case before any work begins. Finanstilsynet's application fee is confirmed per case; the levy is invoiced in early December, due by year-end and charged in full even for a licence granted late in the year (FIL §§ 368-369). Every fixed amount in FIL chapter 22, the DKK 15,000 floor included, is written at 2016 level and indexed to Finanstilsynet's appropriation (§ 361 stk. 13), so the current-year figures go into the quote.

Why Denmark

Dates you can plan around, a levy you can estimate.

Denmark is a small broker market with exact rules: the Act names the deadlines, and FIL names the levy formula.

✓
A deadline in the statute

Section 22 of the Danish Act limits Finanstilsynet to 12 months from receipt and opens a court route six months after a complete file. Both dates go into the business plan on day one.12 months at most, court after six.

✓
A levy you can estimate

Finanstilsynet's base levy under FIL § 362 is 10.5 per mille of salary, commission and directors' fees, with a floor written as DKK 15,000 at 2016 level and indexed since, so it comes straight out of the payroll budget.10.5 per mille, indexed DKK 15,000 floor.

✓
Warning: the letterbox rule

Under § 20 stk. 2 Finanstilsynet may refuse a licence where the Danish head office only avoids the law of the country where most clients live. We test the client plan against it before anything is filed.Client mix checked before filing.

✓
A short list of peers

Finanstilsynet counted 59 fondsmæglerselskaber at December 2025, 16 of them in IFR class 2. In a sector led by asset managers, we expect a CFD market maker to explain its dealing book from first principles.59 firms, 16 in class 2.

✓
The EEA passport

A Danish fondsmæglerselskab passports into the 30 EEA states under MiFID II Art. 34-35. Finanstilsynet forwards a services notification within one month, and each host state's CFD measure still governs the retail clients there.30 states, one-month notification.

✓
A known tax rate

Danish corporate tax is 22% for both 2026 and 2027 under selskabsskatteloven § 17 stk. 1, and a newly formed company pays no ordinary tax on account in its first three years.No tax on account for three years.

How it compares

How Denmark differs from other routes.

Sweden puts a printed price of SEK 975,000 on the application; Denmark puts a statutory limit of 12 months on the decision. Estonia and Lithuania charge €1,000 and €947 to apply, and tax profits at 0% while retained and 17% respectively. The figures are below.

Denmark vs other jurisdictions
FeatureDenmarkOther jurisdictions
Decision clock6 months · 12 at most (§ 22)6 months once complete and paid (Sweden) · 2-6 months (Estonia)
Application feeConfirmed per caseSEK 975,000 (Sweden) · €1,000 (Estonia) · €947 (Lithuania)
Annual levy10.5 per mille of payroll, indexed minimumBalance-sheet share, min SEK 150,000 (Sweden)
Corporate tax22% · 2026 and 202720.6% Sweden · 17% Lithuania · 0% retained in Estonia
Decision clock
Denmark6 months · 12 at most (§ 22)
Other jurisdictions6 months once complete and paid (Sweden) · 2-6 months (Estonia)
Application fee
DenmarkConfirmed per case
Other jurisdictionsSEK 975,000 (Sweden) · €1,000 (Estonia) · €947 (Lithuania)
Annual levy
Denmark10.5 per mille of payroll, indexed minimum
Other jurisdictionsBalance-sheet share, min SEK 150,000 (Sweden)
Corporate tax
Denmark22% · 2026 and 2027
Other jurisdictions20.6% Sweden · 17% Lithuania · 0% retained in Estonia
Country by country
CountryLicense typeTaxationRequirements
DenmarkFondsmæglerselskab · Finanstilsynet22% CIT (2026)IFD €75k-€750k, § 22 clock
SwedenVärdepappersbolag · Finansinspektionen20.6% CIT (2026)SEK 975,000 fee, board of three
LithuaniaFBF licence - category A/B/C17% CIT (2026) · 17% WHT€750k / €150k / €75k, €947 levy
EstoniaInvestment firm · Finantsinspektsioon0% · 22% distributedIFD €75k-€750k, statutory clock
Denmark
License typeFondsmæglerselskab · Finanstilsynet
Taxation22% CIT (2026)
RequirementsIFD €75k-€750k, § 22 clock
Sweden
License typeVärdepappersbolag · Finansinspektionen
Taxation20.6% CIT (2026)
RequirementsSEK 975,000 fee, board of three
Lithuania
License typeFBF licence - category A/B/C
Taxation17% CIT (2026) · 17% WHT
Requirements€750k / €150k / €75k, €947 levy
Estonia
License typeInvestment firm · Finantsinspektsioon
Taxation0% · 22% distributed
RequirementsIFD €75k-€750k, statutory clock
Europe

Forex licences in neighbouring jurisdictions

All 50 forex licence jurisdictions →

Before you apply

Requirements for the fondsmæglerselskab licence.Requirements for the licence.

Section 20 stk. 1 lists nine licence conditions, and Finanstilsynet's checklist, updated 3 April 2023, turns them into attachments for the virk.dk form. A complete file holds the ten items below.

01
Danish seat - head office and registered office in Denmark (§ 20 stk. 1 nr. 8), and the word fondsmæglerselskab in the company name (§ 17).
02
Start capital - €750,000, €150,000 or €75,000 by class under § 18 stk. 1, made up of own funds as IFR Art. 9 defines them.
03
Fit and proper people - every board member and manager assessed against §§ 75, 76 and 78 on Finanstilsynet's forms.
04
Owners - qualifying holdings assessed under § 60 stk. 1, with a group chart that shows whether a parent becomes a fondsmæglerholdingvirksomhed.
05
Business model - the bilag 1 services and bilag 2 instruments, a three-year budget month by month, and the BEK nr 760 of 14 June 2024 conduct rules built into the product.
06
Governance papers - board rules of procedure under § 68 stk. 1 and the board's written guidelines to management under § 67 stk. 2.
07
Procedures and contracts - business procedures per licensed area, capital adequacy and compliance (§ 94 stk. 1 nr. 3), an auditor's statement that they are adequate, and standard client contracts.
08
Organisation - an organisation chart and a staff list giving each person's function, education and prior employment.
09
AML/CTF - written policies under hvidvaskloven § 8 stk. 1, suspicious-transaction reports to Hvidvasksekretariatet at the National enhed for Særlig Kriminalitet (NSK), and a manual ready for the EU AML Regulation from 10 July 2027.
10
Guarantee scheme - membership is condition nr. 9 of § 20 stk. 1; Garantiformuen covers securities a failed firm cannot return up to €20,000 per investor.
01
Seat and head office in Denmark.
02
Capital per § 18 class.
03
Board vetted under §§ 75, 76, 78.
04
Owners assessed under § 60.
05
Services, budget, conduct rules.
06
Board rules and guidelines.
07
Procedures plus auditor's statement.
08
Organisation chart, staff list.
09
AML policies, NSK reporting.
10
Guarantee scheme, €20,000 cover.

Reflects LBK nr 467 of 26 April 2026, FIL chapter 22 (LBK nr 650 of 9 June 2025) and IFR/IFD as of 2026. Professional indemnity insurance is not among the § 20 conditions.LBK nr 467/2026 + FIL ch. 22 + IFR/IFD, as of 2026.

How it works

From first call to Finanstilsynet's register.

01
Model and class

Own account or agency, the bilag 1 services and the § 18 class - fixed in writing, because the class also fixes the levy pools.Services and class in writing.

02
Company and people

A Danish company with its seat in Denmark, capital evidenced, and fit-and-proper forms for every board member and manager.Seat, capital, forms.

03
The application

Filed on virk.dk with every checklist attachment, since only a complete file starts the six months after which § 22 allows a court case.Complete - the six months start.

04
Finanstilsynet review

Questions answered by our team; the decision is due within 12 months of receipt, and we plan for 9-12 months from filing.12 months at most by statute.

05
Licence and launch

Entry in Finanstilsynet's virksomhedsregister, guarantee-scheme membership and EEA notifications - the passport live from Copenhagen.Register, guarantee scheme, passport.

Quick facts
RegulatorFinanstilsynet
Own account€750,000
With client money€150,000
No client money€75,000
Decision limit12 months · § 22
Plan for9-12 months from filing
Annual levy10.5 per mille of payroll · indexed floor
Corporate tax22% · 2026 and 2027

An incomplete file still runs against the 12-month limit; only a complete one starts the six months that open a court route. We file complete.

On the ground in Denmark

Run from our Copenhagen office.

Prifinance - Denmark
Copenhagen · Denmark
Copenhagen, Denmark
✆+852 5808 0297✉info.en@prifinance.com
◷Mon-Fri · replies within one business day
01
The Danish company

Head office and registered office in Denmark, the § 17 name and capital placed to match the § 18 class - set up for the licence before the first filing.Seat, name and capital set.

02
The virk.dk file

Procedures per licensed area, the auditor's statement, client contracts and the three-year monthly budget - drafted by us and taken through Finanstilsynet's questions.Complete at filing.

03
People Finanstilsynet can approve

Board members and managers prepared for the §§ 75, 76 and 78 assessment, and a staff list that matches the functions the business plan describes.Ready for §§ 75, 76, 78.

04
Levy, reporting and passport

The FIL levy budgeted from payroll, MiFIR transaction reporting to Finanstilsynet and the EEA notifications sequenced so the licence goes live complete.Budgeted before launch.

We also have offices in
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Hungary
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+36 18 001 911
Good to know

Taxation of forex brokers in Denmark.

Danish corporate tax is 22% in 2026 and 2027, outbound dividends carry 27% withholding unless a directive or treaty takes them to 0%, and one question - § 17 A - is settled per structure.

Corporate tax 22%

Selskabsskatteloven § 17 stk. 1 fixes the Danish rate at 22% for 2026 and again for 2027 - two budget years on a known number.2026 and 2027.

The § 17 A question

Under selskabsskatteloven § 17 A the taxable income of 'finansielle selskaber' is multiplied by 26/22, an effective 26% in 2026 and 2027. Whether it reaches your fondsmæglerselskab is confirmed per structure before we model the numbers.26/22 - confirmed per structure.

No tax on account at first

Skattestyrelsen collects no ordinary tax on account from a new company in its first three years, which leaves that cash in the firm while own funds are being built.No tax on account, three years.

Dividends: 27% by default

Danish dividends paid abroad carry 27% withholding for non-resident individuals and other foreign companies, 0% for parent and group companies covered by EU directives or a treaty, and 44% for recipients in ligningsloven § 5H(2) countries.0% to qualifying parents.

Refund down to the final tax

A foreign company's final tax on Danish dividends is 22%, or 15% for holdings under 10% where information is exchanged (selskabsskatteloven § 2 stk. 3); withholding above that is reclaimed.15% below a 10% holding.

VAT-exempt dealing

The EU VAT Directive 2006/112/EC exempts transactions in securities, payments and currency under Art. 135(1)(d)-(f), and a Danish broker's dealing income is modelled on that basis.Art. 135(1) exemptions.

Tax summary
Corporate tax22% · 2026 and 2027
Financial companies (§ 17 A)26/22 · confirmed per structure
Dividend withholding27% · 0% to qualifying parents
Final tax on dividends22% · 15% under 10%
VAT on financial servicesExempt · Art. 135(1)

*As of 2026 per selskabsskatteloven, the Danish Ministry of Taxation and Skattestyrelsen. Group and founder-level outcomes are modelled per structure.

Turnkey professional support

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.

Nikolai Timofejev
Nikolai Timofejev

15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the Finanstilsynet licence, including banking and payment rails.

Oleksii Kindratenko
Oleksii Kindratenko

Builds the application itself: Danish fondsmæglerselskab, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.

Eugeniu Bevziuc
Eugeniu Bevziuc

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.

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Denmark · Finanstilsynet

Launch your forex project in Denmark with expert support.

Full-service assistance - from the Danish company to the Finanstilsynet licence, the EEA passport and the yearly levy - run through our Copenhagen office.

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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.

Written assessment within 2-5 business days
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FAQ

The Denmark forex licence, answered.

What licence does a forex broker need in Denmark?+

A fondsmæglerselskab licence from Finanstilsynet under § 13 of the lov om fondsmæglerselskaber og investeringsservice og -aktiviteter (LOV nr 1155 of 2021, consolidated as LBK nr 467 of 26 April 2026). Denmark has no separate forex or CFD licence: the bilag 1 services you apply for, such as dealing on own account, decide the capital class and the levy pools.

How long does Finanstilsynet take to decide?+

Finanstilsynet has 12 months from receipt at most. Section 22 of the Act requires a reasoned refusal within six months of a complete file and a decision within 12 months in every case, and an applicant still waiting six months after a complete file may go to court. We plan for 9-12 months from filing.

What capital does a Danish CFD broker need?+

A Danish broker dealing on own account needs €750,000, the class every market-making CFD broker falls into; an agency firm holding client money needs €150,000, and one holding none €75,000 (§ 18 stk. 1). IFR's K-factor and fixed-overheads requirements apply on top of these floors.

What does Finanstilsynet charge?+

Finanstilsynet's application fee for a fondsmæglerselskab is confirmed per case before we quote. The yearly levy follows FIL chapter 22: 10.5 per mille of salary, commission and directors' fee costs with a minimum written as DKK 15,000, plus balance-sheet pools for dealers on own account and a transaction-reporting fee banded by volume; every fixed amount is set at 2016 level and indexed each year.

Which retail CFD rules apply in Denmark?+

Finanstilsynet's permanent CFD measure, which received a positive ESMA opinion on 23 July 2019: leverage from 30:1 on major currency pairs to 2:1 on cryptocurrencies, close-out at 50% of required margin, negative balance protection, no bonuses and a standard risk warning. Its retail ban on binary options received an ESMA opinion on 24 June 2019.

Can a Danish fondsmæglerselskab serve clients in other EU states?+

Yes - the licence passports into all 30 EEA states under MiFID II Art. 34-35, and Finanstilsynet forwards a services notification within one month. Retail clients abroad stay under their host state's CFD measure. In the other direction, an EU firm's branch in Denmark pays an annual levy under FIL § 363 b, written as DKK 8,000 at 2016 level.

Can Finanstilsynet refuse a broker whose clients are mostly abroad?+

Yes - § 20 stk. 2 lets Finanstilsynet refuse a licence where the head office is placed in Denmark only to avoid the law of the country where most of the applicant's clients live. Where the client plan points to another market, we say so before filing.

How are forex brokers taxed in Denmark?+

Danish corporate tax is 22% for 2026 and 2027 under selskabsskatteloven § 17 stk. 1; whether the 26/22 multiplier for financial companies in § 17 A reaches a fondsmæglerselskab is confirmed per structure. Dividends leave with 27% withholding by default and 0% to qualifying EU or treaty parents.

Denmark or Sweden for a Nordic CFD broker?+

Sweden is easier to price: Finansinspektionen publishes a SEK 975,000 application fee and says it decides within six months of a complete, paid file, and Swedish corporate tax is 20.6% against 22%. Denmark answers with a 12-month limit and a court route in statute, and a levy floor written as DKK 15,000 at 2016 level, indexed since, against Sweden's SEK 150,000 minimum fee.

Why Prifinance for Denmark?+

We build the fondsmæglerselskab file the way Finanstilsynet's checklist reads - procedures per licensed area, the auditor's statement, the monthly budget, fit-and-proper forms - and check the client plan against § 20 stk. 2 first. The work runs through our Copenhagen office, with the levy and tax model built alongside the application.

What licence?+

Fondsmæglerselskab - Finanstilsynet.

How long?+

12 months at most; we plan 9-12.

Capital?+

€75k/€150k/€750k by class.

Fees?+

Fee per case; levy 10.5 per mille.

Retail rules?+

ESMA set: 30:1, NBP, no bonuses.

Passport?+

30 EEA states, one month.

Clients abroad?+

§ 20 stk. 2 letterbox test.

Taxes?+

22%; § 17 A per structure.

Vs Sweden?+

Sweden's printed fee; Denmark's written clock.

Why you?+

Checklist-complete file, Copenhagen desk.

Client notes
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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 Danish Financial Supervisory Authority (Finanstilsynet) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.