Italy
Latvia
Malta
North MacedoniaNikolai 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 CSSF decision, including banking and payment rails.
Get a forex license in Luxembourg.
Luxembourg licenses forex and CFD brokerage as an investment firm under the Law of 5 April 1993 on the financial sector: the authorisation names the MiFID services by article, with Art. 24-3 dealing on own account at €750,000 and Art. 24-2 execution at €150,000 or €75,000. The CSSF charges €50,000 to examine the file and €123,750 a year for a dealing firm. Six months from a complete file, twelve at the very most. We build it from our Luxembourg office.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated · Reviewed by the Prifinance team
Luxembourg in brief
A €50,000 ticket, a 12-month hard stop.
Luxembourg licenses forex and CFD brokerage as an investment firm, an entreprise d'investissement under the Law of 5 April 1993 on the financial sector. Since the Law of 21 July 2021 the old statuses - courtiers, commissionnaires, gérants de fortunes - no longer exist; the authorisation lists MiFID services by article: Art. 24-1 reception and transmission, 24-2 execution, 24-3 dealing on own account, 24-4 portfolio management, 24-5 advice. A market-making CFD broker is an Art. 24-3 firm at €750,000 initial capital under IFD Art. 9(1); Art. 20 LFS sets €150,000 for a firm that may hold client money and €75,000 for one that may not. CSSF Regulation N° 19-06 has carried the ESMA retail set since 1 August 2019 - leverage 30:1 to 2:1, 50% close-out, negative balance protection, no incentives, the risk warning. Art. 15 gives the CSSF six months from a complete file and a hard twelve. Silence after twelve months is a refusal.
The price is in the Grand-ducal Regulation of 23 December 2022, as amended in January 2026: €50,000 to examine a new application, then an annual lump sum of €123,750 for a dealing-on-own-account firm, €41,250 for an execution-only broker in class 2, €27,500 in class 3. Add €4,900 a year to the investor compensation scheme and €20,000 for every branch abroad. Substance is read literally. Art. 17 wants the decision-making and administrative centre and a working commercial function in Luxembourg, Art. 19 two authorised managers resident in the country or the Grande Région, Circular 20/758 three internal control functions from day one. The register held 79 investment firms at 31 August 2026, eight fewer than a year earlier, most of them wealth managers and institutional brokers. Tax runs 23.87% aggregate in Luxembourg City from 2025. We build this licence from our Luxembourg office, and say so in the first call when a cheaper EU desk fits the plan better.
Investment firm under the Law of 5 April 1993, services named by article: Art. 24-3 dealing at €750k, Art. 24-2 execution at €150k or €75k. CSSF Regulation 19-06 carries the ESMA retail set; Art. 15 gives six months from a complete file and a hard twelve.
€50,000 to apply, €123,750 a year for a dealing firm, two resident managers, three control functions. 79 firms on the register, 23.87% aggregate tax in the capital. Built from our Luxembourg office.
The two builds
Art. 24-3 dealing on own account - or the Art. 24-2 execution desk.
One authorisation, priced by the highest service it carries: the market maker under Art. 24-3 at €750,000 and €123,750 a year, or the execution desk under Art. 24-2 at €150,000 and €41,250. We fix the article first, then build once.
Art. 24-3 at €750k and €123,750 a year - or Art. 24-2 execution at €150k and €41,250.
01 - ART. 24-3 · DEALING ON OWN ACCOUNT
The market-maker authorisation
Dealing on own account in CFDs and FX derivatives: €750,000 initial capital under IFD Art. 9(1), a €50,000 examination fee, the €123,750 annual lump sum and €4,900 a year to the SIIL. Two resident authorised managers and three control functions before the first trade.
Dealing on own account in CFDs and FX derivatives: €750,000 initial capital under IFD Art. 9(1), a €50,000 examination fee, the €123,750 annual lump sum and €4,900 a year to the SIIL. Two resident authorised managers and three control functions before the first trade.
- ✓Dealing on own account - Art. 24-3 LFS
- ✓€750,000 initial capital (IFD Art. 9(1))
- ✓CSSF annual lump sum €123,750
- ✓SIIL contribution €4,900 a year
- ✓Two resident authorised managers
- ✓Passport to 30 EEA states
02 - ART. 24-2 · EXECUTION / STP
€41,250 a year · class 2The execution desk
Reception and transmission under Art. 24-1 and execution under Art. 24-2 without a dealing book: €150,000 initial capital where client money is held, €75,000 where it is not, the same €50,000 examination fee, and an annual lump sum of €41,250 in class 2 or €27,500 as a small and non-interconnected firm.
RTO and execution; €150k with client money, €75k without; €50,000 fee; €41,250 or €27,500 a year; SIIL €2,400.
- ✓RTO and execution - Art. 24-1, 24-2
- ✓€150,000 with client money · €75,000 without
- ✓CSSF annual €41,250 · €27,500 class 3
- ✓SIIL €2,400 a year
- ✓Same €50,000 examination fee
- ✓Extension to Art. 24-3 later: €15,000
Costs and timelines are confirmed for your case before any work begins. CSSF fees follow the Grand-ducal Regulation of 23 December 2022 as amended in January 2026; capital, audit, resident-manager and substance costs are itemised in your quote.
Why Luxembourg
The address, the deadline, and every fee in print.
Luxembourg is the dear option in this part of the map, and it says so in a published regulation; what it sells is an institutional address and a decision with a legal deadline.
✓
An institutional address
The register's 79 firms, at 31 August 2026, are mostly wealth managers and brokers for institutional clients. A CSSF authorisation sits beside them - the point for a group that sells to professional and institutional counterparties rather than to retail volume.79 firms, mostly wealth and institutional.
✓
A clock with a hard stop
Art. 15: six months from the complete file, and a decision within twelve at the latest. Silence after twelve months is a refusal you can take to the Tribunal administratif within one month - a date a project plan can be built on.Twelve months, then refusal.
✓
Every fee is published
The Grand-ducal Regulation of 23 December 2022 prices the whole life of the licence: €50,000 to apply, €123,750 or €41,250 a year, €15,000 per extension, €20,000 per branch abroad, €10,000 per thematic inspection. Expensive, and knowable to the euro.€50,000, €123,750, knowable.
✓
Start the day the letter arrives
Business may begin immediately on receipt of the authorisation; the licence has no term and no renewal, provided the firm complies at all times.No term, no renewal.
✓
A pre-application that finds the obstacles
The CSSF asks to be contacted before filing: the General Secretariat qualifies the activity, then the Investment Firms department tests the project against the LFS, Delegated Regulations 2017/1943 and 2017/1946 and the IFR. The formal file then gets a named contact person.Obstacles found before filing.
✓
Substance, read literally
Two authorised managers resident in Luxembourg or the Grande Région, the decision-making centre at the registered office, three control functions under Circular 20/758 from day one. It costs more than a Baltic desk, and it is the reason the stamp is worth having.Two resident managers, three functions.
How it compares
How Luxembourg differs from other routes.
The same passport as Malta or Vilnius at many times the running cost; the trade is the address, the hard deadline and a regulator used to institutional files. The figures are below.
Luxembourg vs other jurisdictions
| Feature |  Luxembourg | Other jurisdictions |
|---|---|---|
| Regime | LFS 1993 · Art. 24-1 to 24-9 - CSSF | Same directive or offshore |
| Application fee | €50,000 lump sum | €15,000 Malta · €947 Lithuania · €1,000 Estonia |
| Annual regulator fee | €123,750 dealing · €41,250 execution | €17,500 minimum Malta · capped at 1% of income in Lithuania |
| Decision | 6 months · hard stop at 12 | 6 months EU-wide from a complete file · 2-6 statutory in Estonia |
Regime
LuxembourgLFS 1993 · Art. 24-1 to 24-9 - CSSF
Other jurisdictionsSame directive or offshore
Application fee
Luxembourg€50,000 lump sum
Other jurisdictions€15,000 Malta · €947 Lithuania · €1,000 Estonia
Annual regulator fee
Luxembourg€123,750 dealing · €41,250 execution
Other jurisdictions€17,500 minimum Malta · capped at 1% of income in Lithuania
Decision
Luxembourg6 months · hard stop at 12
Other jurisdictions6 months EU-wide from a complete file · 2-6 statutory in Estonia
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Luxembourg | CSSF investment firm - Art. 24-3 | 23.87% aggregate (city) | IFD tiers, €50,000 fee, 2 resident managers |
 Germany | BaFin Wertpapierinstitut | 29.8% at a 400% Hebesatz | €750k mid-size class, hourly fee, file in German |
 Netherlands | AFM licence - Art. 2:96 Wft | 19% to €200k · 25.8% above | IFD tiers, €200/h fee up to €100,000 |
 Cyprus | CySEC CIF | 15% CIT (2026) | IFD €75k-€750k, EU passport |
LuxembourgLicense typeCSSF investment firm - Art. 24-3
Taxation23.87% aggregate (city)
RequirementsIFD tiers, €50,000 fee, 2 resident managers
GermanyLicense typeBaFin Wertpapierinstitut
Taxation29.8% at a 400% Hebesatz
Requirements€750k mid-size class, hourly fee, file in German
NetherlandsLicense typeAFM licence - Art. 2:96 Wft
Taxation19% to €200k · 25.8% above
RequirementsIFD tiers, €200/h fee up to €100,000
CyprusLicense typeCySEC CIF
Taxation15% CIT (2026)
RequirementsIFD €75k-€750k, EU passport
Europe
Forex licences in neighbouring jurisdictions
Before you apply
Requirements for the CSSF authorisation.Requirements for the licence.
The CSSF publishes what the file must contain and reads it against Art. 17 to 20 of the LFS. Below is what a passing application contains.
01
Luxembourg company - an S.A. or S.à r.l. under Art. 16 LFS, with registered office and central administration in Luxembourg.
02
Initial capital - €750,000 for dealing on own account under IFD Art. 9(1), €150,000 where client money may be held, €75,000 where it may not (Art. 20 LFS), fully paid up, with own-funds and liquidity projections in the file.
03
Two authorised managers - natural persons with closely equal powers under Art. 19, experienced at a high level of responsibility, resident in Luxembourg or the Grande Région and reachable by the CSSF at any time.
04
Shareholders approved first - every 10% holder cleared by the CSSF under Art. 18 on reputation, financial soundness and ML/TF risk, with the information set of Delegated Regulations 2017/1943 and 2017/1946.
05
Central administration - decision-making centre and administrative centre at the registered office, a commercial function effectively run from Luxembourg, Art. 37-1 organisation and Circular 20/758 governance.
06
Three control functions - compliance, risk management and internal audit in place at authorisation, not promised for later.
07
The file the CSSF lists - rationale for Luxembourg, services and target clients, countries served, omnibus accounts and depositary bank, three-year projections, BCP, IT, outsourcing under Circular 22/806, group chart and UBOs.
08
Client assets - the safekeeping and protection design written out; the SIIL covers misappropriated money and instruments up to €20,000 per investor, not market losses.
09
Retail CFD conduct - CSSF Regulation N° 19-06 built into the platform: 30:1 to 2:1 leverage, 50% close-out, negative balance protection, no incentives, the firm-specific risk warning.
10
Audit, AML and fees - a réviseur d'entreprises agréé under Art. 22, the AML organisation of the Law of 12 November 2004 with goAML reporting to the CRF, and the €50,000 examination fee paid with the file.
01
S.A. or S.à r.l. in Luxembourg.
02
€750k / €150k / €75k, fully paid.
03
Two resident authorised managers.
04
10% holders approved under Art. 18.
05
Central administration on site.
06
Three control functions live.
07
The CSSF's listed file, complete.
08
Client-asset design, SIIL member.
09
Regulation 19-06 built in.
10
Réviseur, AML, €50,000 fee.
Reflects the Law of 5 April 1993 as amended by the Law of 21 July 2021, the Grand-ducal Regulation of 23 December 2022 as amended on 8 January 2026, and CSSF Circulars 20/758 and 22/806 as of 2026.LFS 1993 as amended 2021 + GDR 23 Dec 2022 + Circulars 20/758, 22/806, as of 2026.
How it works
From first contact to the CSSF register.
01
Model and article
Art. 24-3 dealing or Art. 24-2 execution, client types and countries served - fixed in writing before any drafting.24-3 or 24-2 - fixed.
02
Pre-application with the CSSF
Activity qualified with the General Secretariat, obstacles identified with the Investment Firms department; shareholders prepared for Art. 18 approval.Activity qualified, obstacles found.
03
Company and file
S.A. or S.à r.l. formed, capital paid, two managers approved, the full dossier submitted by MFT link with originals under three months old and the €50,000 fee.Formed, paid, filed, €50,000.
04
Examination
A named CSSF contact, question rounds answered by us; six months from the complete file, twelve at the very most.6 months, hard stop at 12.
05
Authorisation and launch
Business may start the day the authorisation arrives; SIIL membership declared, passport notifications filed, the first annual lump sum due.Start on receipt, passport filed.
Quick facts
RegulatorCSSF
FrameworkLFS 1993 · Art. 24-1 to 24-9
Own account€750,000
With client money€150,000
Application fee€50,000
Annual fee - dealing€123,750
Decision6 months · hard stop at 12
Plan for9-14 months end to end
Every figure here is in a published regulation, and the CSSF's clock has a hard stop. The file we build is the one that reaches it complete.
On the ground in Luxembourg
Run from our Luxembourg office.
Prifinance - Luxembourg
Luxembourg · Luxembourg
Luxembourg, Luxembourg
01
Luxembourg company formation
S.A. or S.à r.l., paid-up capital and the two-manager structure of Art. 19 - built for the authorisation from day one.Two-manager S.A., built for Art. 19.
02
The pre-application
We qualify the activity with the CSSF's General Secretariat, then take the project to the Investment Firms department before a single formal page is filed.Secretariat, then the department.
03
The CSSF file
Rationale, projections, governance, client-asset design and the Circular 20/758 control framework, filed by MFT link with originals under three months old - drafted by us and defended through the rounds.By MFT link, defended.
04
Managers and substance
Resident authorised managers, control-function heads and the réviseur sourced in Luxembourg - the central administration Art. 17 describes, in a working office.Resident, on site, real.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of forex brokers in Luxembourg.
Three layers on profit - 16% corporate tax, a 7% surcharge on it, 6.75% municipal business tax in the capital - and a wealth tax with a floor that applies in loss years.
Corporate tax 16%
From tax year 2025 on income above €200,000 (14% up to €175,000, a sliding band between), down from 17% in 2019-2024.Above €200,000, since 2025.
23.87% all in
Add the 7% employment-fund surcharge on the corporate tax and the 6.75% municipal business tax of Luxembourg City, and the aggregate nominal rate is 23.87% from 2025; other communes set their own rate.Surcharge and city business tax.
Net wealth tax
0.5% of taxable net wealth up to €500 million and 0.05% above. The minimum - €4,815 for balance sheets over €2 million, €1,605 between €350,000 and €2 million - applies even in a loss year, reduced by the prior year's corporate tax.0.5%, floor €4,815 above €2m.
Dividend withholding 15%
Under Art. 146-148 LIR, exempt for a qualifying parent under Art. 147 - 10% or €1.2 million held for 12 months by an EU, treaty-state or fully taxed company; treaty rates otherwise.0% for qualifying parents.
Participation exemption
Dividends and gains on qualifying holdings are exempt under Art. 166 LIR, so a holding layer above the broker carries no second charge.Art. 166, holdings untaxed.
VAT-exempt dealing
Art. 44(1) of the VAT law exempts financial transactions including negotiation in currencies and securities - no VAT on brokerage income, no input recovery.Art. 44(1), no input recovery.
Tax summary
Corporate tax16% · income above €200,000
Aggregate, Luxembourg City23.87%
Net wealth tax0.5% · minimum €4,815 above €2m
Dividend withholding15% · 0% qualifying parent
VAT on dealingExempt
*As of 2026 per the Administration des contributions directes and the Law of 4 December 1967 (LIR). 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.
Oleksii Kindratenko
Builds the application itself: Luxembourg company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
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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Luxembourg · CSSF
Launch your forex project in Luxembourg with expert support.
Full-service assistance - from the S.A. to the CSSF decision, passporting and ongoing compliance - run through our Luxembourg office.
Get a consultation →Free legal opinion
Is Luxembourg 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.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Luxembourg forex licence, answered.
What licence does a forex broker need in Luxembourg?+
Authorisation as an investment firm from the CSSF under the Law of 5 April 1993 on the financial sector, listing the MiFID services by article: Art. 24-3 dealing on own account for a market maker, Art. 24-1 and 24-2 reception and execution for an STP desk. The old courtier and commissionnaire statuses were abolished in 2021.
How much capital does the CSSF require?+
€750,000 for dealing on own account under IFD Art. 9(1), €150,000 for a firm that may hold client money and €75,000 for one that may not, under Art. 20 LFS - subscribed and fully paid up, with own-funds and liquidity projections in the file and the IFR ratios kept at all times.
What does the CSSF charge?+
€50,000 to examine a new authorisation, then an annual lump sum by the highest service held: €123,750 for dealing on own account, €41,250 for execution in class 2 (€27,500 in class 3), €37,125 for RTO. Add €4,900 a year to the SIIL for a dealing firm, €2,000 plus a variable part for MiFIR reporting and €20,000 per branch abroad.
How long does the CSSF take?+
Six months from the complete and compliant file under Art. 15 LFS, and a decision within twelve months at the latest - silence after twelve is a refusal, appealable within one month. The pre-application dialogue comes before that, so we plan for 9-14 months from first contact to authorisation.
Who has to live in Luxembourg?+
The two authorised managers who run the business day to day under Art. 19: natural persons with closely equal powers, resident in Luxembourg or the Grande Région and reachable by the CSSF at any time. One of them may be exempted from residence, and only for the first six months after authorisation.
Which retail CFD rules apply in Luxembourg?+
CSSF Regulation N° 19-06, permanent since 1 August 2019 and in substance ESMA's measure: leverage 30:1 to 2:1 by underlying, 50% margin close-out per account, negative balance protection, no incentives, the firm-specific risk warning. Regulation 19-05 bans binary options to retail clients, and the CSSF relays other states' measures, as it did with Spain's 2023 advertising ban.
How are Luxembourg brokers taxed?+
16% corporate income tax above €200,000 of income from 2025, plus the 7% employment-fund surcharge and 6.75% municipal business tax in Luxembourg City: 23.87% aggregate. Net wealth tax at 0.5% with a €4,815 minimum above a €2 million balance sheet, 15% dividend withholding unless the parent qualifies, VAT-exempt dealing.
Can a Luxembourg firm passport or open branches?+
Yes. The European passport runs through the CSSF under the LFS transposition of MiFID II Art. 34 and 35: services into 30 EEA states on notification, branches and tied agents on the branch procedure. Each branch abroad adds €20,000 to the CSSF annual lump sum, and host-state CFD measures apply to retail clients there.
Luxembourg or Cyprus for a CFD market maker?+
Cyprus does better on cost and speed: 15% corporate tax, the Limassol cluster, a realistic 8-14 months, no €123,750 annual lump sum. Luxembourg does better where the counterparties are institutional, the group banks there, or the owner wants a CSSF decision with a twelve-month legal deadline behind it. For a retail-volume B-book, Cyprus; for a wealth or institutional franchise, Luxembourg.
Why Prifinance for Luxembourg?+
We run the two-stage pre-application with the CSSF, form the S.A. or S.à r.l., recruit the two resident authorised managers and the control-function heads, and file the full electronic dossier from our Luxembourg office. We also say plainly, in the first call, when a Baltic or Cypriot desk would serve the same plan at a fraction of the running cost.
What licence?+
CSSF investment firm, Art. 24-3 or 24-2.
Capital?+
€750k / €150k / €75k.
Fees?+
€50,000; €123,750 a year dealing.
How long?+
6 months; hard stop 12; plan 9-14.
Who lives here?+
Two authorised managers.
Retail rules?+
Regulation 19-06 - ESMA set.
Taxes?+
23.87% aggregate; NWT floor.
Passport?+
30 states; €20,000 per branch.
Vs Cyprus?+
Their cost; your address.
Why you?+
Pre-application to decision, locally.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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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 Commission de Surveillance du Secteur Financier (CSSF) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.