Luxembourg
Malta
North Macedonia
Poland
RomaniaNikolai 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 AFM decision, including banking and payment rails.
Get a forex license in the Netherlands.
The Netherlands licenses forex and CFD brokerage as a beleggingsonderneming: an AFM licence under Art. 2:96 of the Wet op het financieel toezicht, with De Nederlandsche Bank advising on the prudential side - IFD capital from €75,000 to €750,000, a 13-week statutory decision period and an application fee charged at €200 an hour up to €100,000. The AFM has told the Minister that EU CFD providers still cause Dutch consumers financial damage; it is not a regulator that courts the sector. The passport reaches 30 states and corporate tax is 19% to €200,000 and 25.8% above. We build the file from Amsterdam.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated · Reviewed by the Prifinance team
Netherlands in brief
Thirteen weeks, an hourly fee and a regulator on the record.
A Dutch forex or CFD broker is a beleggingsonderneming under the Wet op het financieel toezicht (Wft): Art. 2:96(1) forbids providing investment services or performing investment activities in the Netherlands without an AFM licence, and Art. 1:1 lists the services in MiFID order - receiving and transmitting orders, executing orders, managing individual portfolios, advising, and dealing on own account as an investment activity. CFDs are financial instruments under onderdeel i, currency derivatives under onderdeel d. Capital follows IFD Art. 9 through Art. 3:53 Wft and Art. 48 of the Besluit prudentiële regels: €750,000 for dealing on own account, €150,000 for holding client money without it, €75,000 for neither. The AFM decides. It asks De Nederlandsche Bank for advice under Art. 1:48(2) on own funds, liquidity and sound business conduct, and DNB issues the verklaring van geen bezwaar for every 10% shareholder (Art. 3:95) - 62 days from a complete application.
Three figures define the Dutch file. The statutory decision period is 13 weeks (Art. 1:102(1) Wft), shorter than MiFID's six months, extendable and suspended whenever the AFM asks for more. The application fee is not fixed: €200 for every hour of AFM work, capped at €100,000, payable whatever the outcome. The annual bill in 2026 runs €13,336 to the AFM for an execution-plus-RTO broker before asset-based parts, €4,500 plus €5,300 to DNB for execution, and a one-off €5,000 to the investor compensation fund. Then the stance. The AFM acted against Cypriot CFD firms serving Dutch clients in September 2022 and told the Minister of Finance that EU CFD providers still cause financial damage despite the 2019 measures; the Minister's letter of 13 February 2024 endorsed the restrictions and pushed further action to EU level. A Dutch licence is for a broker that wants to be inside that supervision rather than passporting past it. We build it from our Amsterdam office.
An AFM licence as beleggingsonderneming under Art. 2:96 Wft, DNB advising on capital: €750,000 own account, €150,000 with client money, €75,000 without; 13-week statutory clock; fee €200 an hour up to €100,000.
Levies from €13,336 (AFM) plus €9,800 (DNB) a year, €5,000 fund entry, 19% tax to €200,000. A regulator sceptical of CFDs, on the record. Built from our Amsterdam office.
The two builds
Dealing on own account - or the execution broker.
One Art. 2:96 licence listing the services by letter: handel voor eigen rekening at €750,000 for the market maker, or ontvangen en doorgeven and uitvoeren van orders at €75,000-€150,000 for the STP broker. The services on the licence drive the annual levy, so the list is fixed before the fee clock starts.
Own-account dealing at €750k - or execution/RTO at €75k-€150k.
01 - HANDEL VOOR EIGEN REKENING
The market-maker licence
Dealing on own account as an investment activity (Art. 1:1 Wft): the firm is counterparty to its clients' CFDs at €750,000 minimum eigen vermogen, with DNB testing a three-year own-funds and liquidity forecast, client assets under Art. 4:87 vermogensscheiding and the AFM's 2019 CFD measure built into the product.
Dealing on own account as an investment activity (Art. 1:1 Wft): the firm is counterparty to its clients' CFDs at €750,000 minimum eigen vermogen, with DNB testing a three-year own-funds and liquidity forecast, client assets under Art. 4:87 vermogensscheiding and the AFM's 2019 CFD measure built into the product.
- ✓Handel voor eigen rekening - Art. 1:1 Wft
- ✓€750,000 minimum eigen vermogen
- ✓DNB three-year capital and liquidity test
- ✓Vermogensscheiding · Art. 4:87 Wft
- ✓AFM CFD measure 2019 - 30:1 to 2:1
- ✓Passport via the AFM Portaal · no fee
02 - RTO · UITVOEREN VAN ORDERS
€75k-€150k · AFM levy €13,336The execution broker
Receiving and transmitting orders (a) and executing orders for clients (b) at €75,000 when the firm holds no client money, €150,000 when it does - the STP architecture, with vermogensbeheer (c) added for managed accounts. In 2026 the AFM levy for execution plus RTO is €13,336 before the asset-based part; DNB adds €4,500 plus €5,300 for execution.
RTO and execution; €75k without client money, €150k with; AFM levy €13,336 (2026); DNB €9,800; extension €10,500.
- ✓RTO and execution - Art. 1:1 a, b
- ✓€75,000 without client money
- ✓€150,000 with client money
- ✓AFM levy 2026: €3,335 RTO + €10,001 execution
- ✓Vermogensbeheer for managed accounts
- ✓Extension to own account: €10,500 fee
Every cost and the calendar are confirmed for your case before work begins. The AFM fee is hourly (€200, capped at €100,000) and due whatever the outcome; the 2026 AFM and DNB levies, the €5,000 compensation-fund entry, capital and substance costs are itemised in your quote.
Why the Netherlands
A 13-week clock and a regulator that means it.
The Dutch licence is not the cheap EU ticket; it is the one with a 13-week statutory clock, the clearest fee schedule and a supervisor whose views on CFDs are on the public record.
✓
A 13-week statutory clock
Art. 1:102(1) Wft gives the AFM 13 weeks to decide, against six months under MiFID II Art. 7(3). The period is suspended while you complete the file and DNB's 62-day vvgb runs alongside - but the figure itself is less than half of MiFID's.Art. 1:102 Wft; stops when incomplete.
✓
Fees printed in a regulation
€200 per AFM hour capped at €100,000 for the licence; €10,500 for an extension; €2,400 for the DNB vvgb; passport notifications free. No fee is a surprise, which is rarer than it sounds.€200/h, max €100,000.
✓
Annual costs you can model
2026: AFM €3,335 for RTO, €10,001 for execution, €13,337 for portfolio management, €10,001 for advice, plus €13.94 per €1 million of managed or advised assets; DNB €4,500 basic plus €5,300 for execution - printed in Stcrt. 2026, 20792.Per service, printed yearly.
✓
A supervisor with a view on CFDs
The AFM acted against Cypriot CFD firms in September 2022 and told the Minister that EU providers still cause financial damage to Dutch consumers; its register lists dozens of Cypriot, Estonian and Portuguese CFD brokers passporting in. Expect your business model to be read in that light.On the record since 2022.
✓
DNB enforces the capital rules
DNB fined GMG Europe B.V. €59,770 on 22 June 2026 for repeated own-funds shortfalls and BondAuction Europe B.V. €10,000 on 26 February 2026 for late reports. Small firms are supervised, not ignored - which is what counterparties pay for.€59,770 fine, June 2026.
✓
19% on the first €200,000
Corporate tax is 19% on taxable profit up to €200,000 and 25.8% above, unchanged 2023-2026, with the deelnemingsvrijstelling on 5% holdings and a 15% dividend tax that qualifying EU parents avoid.25.8% above.
How it compares
How the Netherlands differs from other routes.
The Netherlands is the EU desk with a short clock and an hourly fee. Set against the routes brokers usually weigh it against, this is the picture.
Netherlands vs other jurisdictions
| Feature |  Netherlands | Other jurisdictions |
|---|---|---|
| Regime | Wft Art. 2:96 · AFM + DNB advice | One regulator in Cyprus, Malta, Estonia |
| Statutory clock | 13 weeks (Art. 1:102 Wft) | 6 months MiFID · 2 months Poland |
| Licence fee | €200 per hour · max €100,000 | €947 Lithuania · €10,000 Spain · €50,000 Luxembourg |
| Corporate tax | 19% to €200k · 25.8% above | 10% Bulgaria · 15% Cyprus · 25% France |
Regime
NetherlandsWft Art. 2:96 · AFM + DNB advice
Other jurisdictionsOne regulator in Cyprus, Malta, Estonia
Statutory clock
Netherlands13 weeks (Art. 1:102 Wft)
Other jurisdictions6 months MiFID · 2 months Poland
Licence fee
Netherlands€200 per hour · max €100,000
Other jurisdictions€947 Lithuania · €10,000 Spain · €50,000 Luxembourg
Corporate tax
Netherlands19% to €200k · 25.8% above
Other jurisdictions10% Bulgaria · 15% Cyprus · 25% France
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Netherlands | AFM investment firm - Wft 2:96 | 19% · 25.8% above €200k | IFD €75k-€750k, 13-week clock, €200/h fee |
 Germany | WpIG Wertpapierinstitut - BaFin | 15.825% + trade tax | IFD €75k-€750k, German file, 6-month clock |
 Estonia | Investment firm - FI | 0% · 22% distributed | IFD €75k-€750k, €1,000 fee, 2-6 month clock |
 United Kingdom | FCA investment firm | 25% CIT · 19% small | MIFIDPRU £75k-£750k, CASS, outside the EU |
NetherlandsLicense typeAFM investment firm - Wft 2:96
Taxation19% · 25.8% above €200k
RequirementsIFD €75k-€750k, 13-week clock, €200/h fee
GermanyLicense typeWpIG Wertpapierinstitut - BaFin
Taxation15.825% + trade tax
RequirementsIFD €75k-€750k, German file, 6-month clock
EstoniaLicense typeInvestment firm - FI
Taxation0% · 22% distributed
RequirementsIFD €75k-€750k, €1,000 fee, 2-6 month clock
United KingdomLicense typeFCA investment firm
Taxation25% CIT · 19% small
RequirementsMIFIDPRU £75k-£750k, CASS, outside the EU
Europe
Forex licences in neighbouring jurisdictions
Before you apply
Requirements for the AFM licence.Requirements for the licence.
Art. 2:99 Wft lists what the AFM tests and Art. 1:48(2) hands the prudential items to DNB; the application form on the AFM Portaal follows the same order. A passing application contains the following.
01
Dutch entity - a B.V. or N.V. with its seat (zetel) in the Netherlands, registered office and head office together (§ 2.2.12.1 Wft; MiFID II Art. 5(4)).
02
Minimum eigen vermogen - €750,000, €150,000 or €75,000 by model (Art. 3:53 Wft, Bpr Art. 48), present at application and shown to cover IFR Art. 11 and Art. 43 for at least three years.
03
Suitable and reliable policymakers - geschiktheid and betrouwbaarheid of the dagelijks beleidsbepalers and supervisory-board members, tested in separate AFM personentoetsingen; two natural persons determining day-to-day policy.
04
DNB-approved shareholders - a verklaring van geen bezwaar for every holding of 10% or more (Art. 3:95 Wft), €2,400 per application, 62 days from a complete file, DNB contacted beforehand.
05
Business plan for DNB - a three-year forecast of own-funds and liquidity requirements, consolidated IFR/IFD figures where an investment holding sits above the firm.
06
Inrichting van de bedrijfsvoering - the organisation of the business under Art. 4:14 Wft, with integere bedrijfsuitoefening and a conflicts-of-interest policy the AFM can test.
07
Zeggenschapsstructuur - a control structure transparent enough for the AFM to supervise, with group entities and outsourcing mapped.
08
Vermogensscheiding - client funds and instruments held so that client rights survive the firm's failure (Art. 4:87 Wft and the Nrgfo), designed before launch.
09
The AFM CFD measure engineered in - initial margin from 3.33% to 50% per Bijlage I, 50% close-out, negative balance protection, no bonuses and the firm-specific risk warning recalculated every three months over a 12-month window.
10
Wwft compliance - client due diligence, reporting of unusual transactions to FIU-Nederland and Sanctiewet screening, with the AFM as Wwft supervisor for investment firms.
01
B.V. or N.V., seat in the Netherlands.
02
Minimum eigen vermogen per class.
03
Tested policymakers, two of them.
04
DNB vvgb for 10% holders.
05
Three-year forecast for DNB.
06
Bedrijfsvoering per Art. 4:14.
07
Transparent control structure.
08
Vermogensscheiding designed.
09
AFM CFD measure built in.
10
Wwft and Sanctiewet compliance.
Reflects the Wft, the Bpr, the Regeling bekostiging financieel toezicht 2026 and the AFM and DNB licensing guidance, as of 2026.Wft, Bpr, Regeling bekostiging 2026, AFM/DNB guidance, as of 2026.
How it works
From first call to the AFM register.
01
Model and services
Own account or execution, the Art. 1:1 service letters and the capital class - fixed in writing, because each service carries its own levy.Letters and class fixed.
02
Company and people
B.V. formation, capital in place, policymakers prepared for testing, the shareholders' vvgb file opened with DNB.B.V., capital, vvgb opened.
03
Ondernemersloket, then the Portaal
Contact with the AFM Ondernemersloket and DNB, then the complete application on the AFM Portaal - complete, because the 13 weeks stop whenever the file is not.Complete application.
04
AFM review with DNB advice
13 weeks by statute (Art. 1:102), suspended for supplements; DNB's vvgb in 62 days; the hourly fee running. We plan for 6-10 months end to end.13 weeks; plan 6-10 months.
05
Licence, fund, passport
Register entry, the €5,000 compensation-fund contribution, free passport notifications - 30 states from one Dutch licence.Register, fund, 30 states.
Quick facts
RegulatorsAFM · DNB
FrameworkWft · Bpr
Capital - no client money€75,000
With client money€150,000
Own account€750,000
Application fee€200/hour · max €100,000
Statutory clock13 weeks · Art. 1:102 Wft
Our planning range6-10 months
Thirteen weeks is the statute's figure, and the clock stops every time the AFM asks for more. A file that is complete when the vvgb goes to DNB is the whole schedule - and the reason to hire a desk that has filed one.
On the ground in the Netherlands
Run from our Amsterdam office.
Prifinance - Netherlands
Amsterdam · Netherlands
Amsterdam, Netherlands
01
Dutch company formation
B.V. with its zetel in Amsterdam, the policymakers and the capital DNB tests - incorporated for the Art. 2:96 licence.B.V. built for 2:96.
02
The AFM and DNB file
Application on the AFM Portaal, the three-year own-funds and liquidity forecast for DNB, the vvgb file for shareholders - one programme, two regulators, defended through both.One programme, two reviews.
03
People the AFM can test
Dagelijks beleidsbepalers and supervisory-board members prepared for the personentoetsingen, compliance and Wwft ownership sourced in the Netherlands.Ready for personentoetsingen.
04
Levies, fund, passport
AFM and DNB levies modelled from the 2026 Regeling, the €5,000 compensation-fund entry handled, passport notifications filed free through the Portaal.Modelled, filed, free.
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 the Netherlands.
A two-band corporate tax, a 15% dividend tax most EU parents avoid, and a conditional withholding aimed at low-tax jurisdictions - standard Dutch rules, nothing broker-specific.
Corporate tax 19% / 25.8%
19% on taxable profit up to €200,000 and 25.8% above (Art. 22 Wet Vpb 1969), unchanged from 2023 through 2026.Threshold €200,000.
Dividend tax 15%
The Wet op de dividendbelasting 1965 withholds 15%; participation dividends to a 5% shareholder in the Netherlands and, under conditions, to an EU or treaty-state parent are exempt.0% participation.
Conditional withholding 25.8%
Since 1 January 2024 dividends - like interest and royalties - paid to low-tax or non-cooperative jurisdictions and in abuse cases carry the top rate under the Wet bronbelasting 2021.25.8% to low-tax states.
Deelnemingsvrijstelling
Dividends and gains on holdings of 5% or more are exempt at the Dutch parent (Art. 13 Wet Vpb 1969) - the group layer above the broker models cleanly.5% holdings.
VAT-exempt dealing
Transactions in securities and currencies, including negotiation, are exempt under Art. 11(1)(i) Wet op de omzetbelasting 1968 - no VAT on revenue, no input-VAT recovery.Art. 11(1)(i) OB.
Levies on top of tax
The innovation box (Art. 12b) and the Pillar-2 minimum tax exist but do not touch a broker; the DNB resolution levy of €500 plus €3.13 per €1 million of total assets does, every year.€500 + €3.13 per €1m.
Tax summary
Corporate tax19% to €200,000 · 25.8% above
Dividend tax15% · 0% participation
Conditional withholding25.8% to low-tax jurisdictions
VAT on dealingExempt
Participation exemption5% holdings
*As of 2026 per the Wet Vpb 1969, the Wet op de dividendbelasting 1965, the Wet bronbelasting 2021 and the Belastingdienst. 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: Dutch 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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Netherlands · AFM
Launch your forex project in the Netherlands with expert support.
Full-service assistance - from B.V. formation to the AFM licence, DNB's prudential test, passporting and ongoing compliance - run through our Amsterdam office.
Get a consultation →Free legal opinion
Is the Netherlands 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 Netherlands forex licence, answered.
What licence does a forex broker need in the Netherlands?+
A vergunning as beleggingsonderneming from the AFM under Art. 2:96(1) Wft, listing the services from Art. 1:1: dealing on own account for a market maker, receiving-transmitting and executing orders for an STP broker, portfolio management for managed accounts. CFDs are financial instruments under onderdeel i; no separate forex category exists.
How much capital does a Dutch broker need?+
€750,000 for dealing on own account, €150,000 for a firm holding client money without it, €75,000 for RTO or execution without client assets - IFD Art. 9 as applied through Art. 3:53 Wft and Bpr Art. 48. DNB wants proof that IFR own funds and liquidity are covered for the next three years.
How long does the AFM take?+
The statutory period is 13 weeks (Art. 1:102(1) Wft), extendable and suspended while you complete the file; DNB's vvgb for shareholders takes 62 days from a complete application. Our planning range is 6-10 months from the first Ondernemersloket contact to the register entry.
What does the AFM licence cost?+
€200 for every hour the AFM spends on the application, capped at €100,000 (Regeling eenmalige handelingen, Wft.A1.18), payable whether or not the licence is granted. The DNB vvgb costs €2,400 per shareholder application; passport notifications are free; an extension later costs €10,500.
What are the annual levies?+
For 2026: AFM €3,335 for RTO, €10,001 for execution, €13,337 for portfolio management, €10,001 for advice, plus €13.94 per €1 million of managed or advised assets up to €1 billion; DNB €4,500 basic plus €5,300 for execution or portfolio management; a resolution levy of €500 plus €3.13 per €1 million of assets.
Which retail CFD rules apply?+
The AFM Besluit of 18 April 2019: initial margin 3.33% (30:1) on major pairs, 5% on major indices, other pairs and gold, 10% on other commodities and indices, 20% on shares, 50% on crypto; 50% close-out, negative balance protection, no bonuses, and a risk warning recalculated every three months over a 12-month window.
Is there investor compensation?+
Yes - the beleggerscompensatiestelsel covers up to €20,000 per investor (€40,000 for a joint account). Every newly licensed firm pays a one-off €5,000 entry contribution to the fund, even if it serves only professional clients, and reports retail client asset values to DNB each year.
How does the AFM view CFD brokers?+
Critically, and on the record. It acted against Cypriot CFD firms serving Dutch clients in September 2022 and told the Minister of Finance that EU CFD providers still cause financial damage despite the measures; the Minister endorsed the restrictions on 13 February 2024 and said a full ban was not desirable for now. A Dutch applicant files into that view.
The Netherlands or Estonia for an EU CFD broker?+
Estonia wins on entry cost and tax: a €1,000 fee, a 2-6 month statutory decision, 0% on retained profit. The Netherlands wins on supervisory standing and a 13-week headline clock, at the price of an hourly fee up to €100,000, levies of €13,336 plus DNB's, and a regulator that reads CFD models sceptically. We model both.
Why Prifinance for the Netherlands?+
We build the beleggingsonderneming from our Amsterdam office: B.V. formation, the AFM Portaal application, DNB's three-year own-funds and liquidity forecast, the vvgb files for shareholders and the policymakers' personentoetsingen - then the levies modelled from the 2026 Regeling and the passport notifications filed free.
What licence?+
Beleggingsonderneming - AFM, Art. 2:96.
Capital?+
€75k/€150k/€750k by class.
How long?+
13 weeks statutory; plan 6-10.
Fee?+
€200/h, max €100,000.
Levies?+
AFM €13,336 + DNB €9,800.
Retail rules?+
AFM 2019: 30:1, NBP, no bonuses.
Compensation?+
€20,000; €5,000 entry.
AFM's view?+
Sceptical, on the record.
Vs Estonia?+
Their cost; your clock and standing.
Why you?+
Amsterdam desk, two-regulator file.
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 Autoriteit Financiële Markten (AFM), De Nederlandsche Bank (DNB) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.