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 FCA decision, including banking and payment rails.
Get a forex license in the United Kingdom.
The stamp the industry measures itself against: FCA authorisation for CFD and rolling spot forex under FSMA - MIFIDPRU own-funds tiers from £75,000 to £750,000, the PS19/18 retail conduct rules, and credibility no offshore desk can price. We file from our own London office.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
The UK in brief
The benchmark desk of global FX.
The United Kingdom regulates forex and CFD brokerage as investment business: dealing in, arranging or advising on contracts for difference and rolling spot forex requires FCA authorisation under the Financial Services and Markets Act, with permissions matched to the model. The prudential frame is the IFPR: own-funds floors under MIFIDPRU run £75,000 for firms that neither deal nor hold client money, £150,000 where client money and assets are held, and £750,000 for dealing on own account - with the K-factor and fixed-overheads calculations layered above the floors. The retail conduct layer is equally defined: the PS19/18 rules cap CFD leverage at 30:1 to 2:1 by asset class, mandate negative balance protection and margin close-out, and ban inducements - the framework that ended the bonus-and-500:1 era.
Why brokers still queue for it: London remains the world's largest FX centre, an FCA permission converts into banking, liquidity and institutional relationships nothing else matches, and UK client money rules (CASS) are the segregation standard counterparties actually trust. The costs are real - capital, substance, a supervisor that reads everything, and the timeline runs 9-15 months. The reward is the licence that makes every other conversation easier. We run the file from our own office at 7 Bell Yard.
FCA authorisation under FSMA: MIFIDPRU own funds £75k/£150k/£750k by model, CASS client money, PS19/18 retail rules (leverage 30:1-2:1, negative balance protection, no inducements).
The reward: the benchmark stamp of global FX, in the world's FX capital. We file from our own London office.
The two routes
Dealing on own account - or the agency model.
One FCA authorisation, two architectures: the principal/market-maker model at £750,000 own funds, or agency and matched-principal models at £75,000-£150,000. We fix the model first, then build once.
Own-account dealing at £750k - or agency and matched-principal at £75k-£150k.
01 - DEALING ON OWN ACCOUNT
The principal model
The full market-maker authorisation: dealing on own account in CFDs and rolling spot forex at £750,000 own funds. With K-factor capital, CASS client money and the PS19/18 conduct stack built in.
The full market-maker authorisation: dealing on own account in CFDs and rolling spot forex at £750,000 own funds. With K-factor capital, CASS client money and the PS19/18 conduct stack built in.
- ✓Dealing on own account - market making
- ✓£750,000 own-funds floor
- ✓K-factor + fixed-overheads capital
- ✓CASS client money segregation
- ✓PS19/18 retail conduct compliance
- ✓The industry's benchmark stamp
02 - AGENCY · MATCHED PRINCIPAL
£75k-£150k own fundsThe agency models
Arranging, advising and matched-principal execution at £75,000-£150,000 own funds. STP brokers, introducers-at-scale and white-label operators licensed at the tier their model actually needs.
STP/matched principal; arranging and advising; £75k without client money, £150k with; upgrade path.
- ✓Matched principal / STP execution
- ✓Arranging and advising permissions
- ✓£75k without client money · £150k with
- ✓Lighter capital, same FCA stamp
- ✓Upgrade path to own-account dealing
- ✓Same conduct and CASS discipline
Costs and timelines are confirmed for your case before any work begins. FCA fees follow its schedule; capital, professional indemnity and substance costs are itemised in your quote.
Why the UK
The licence that opens the other doors.
London is where FX liquidity lives, and the FCA permission is how non-banks sit at that table.
✓
The world's FX capital
London clears more FX than any city on earth. Prime brokers, liquidity providers and banks are counterparties you meet across town, not across time zones.Liquidity across town.
✓
The stamp that converts
An FCA permission turns into banking relationships, PSP onboarding and institutional flow faster than any alternative. The diligence the FCA did becomes diligence others skip.Banking and PSPs follow.
✓
Defined prudential tiers
£75k, £150k, £750k. The MIFIDPRU floors match capital to the model, so agency brokers are not priced like market makers.Capital matches the model.
✓
CASS - the trusted standard
UK client-money rules are the segregation regime counterparties cite by name. Passing a CASS audit is a sales asset, not just a duty.Cited by name.
✓
Post-PS19/18 clarity
Leverage caps, negative balance protection and the inducement ban are settled law. The UK retail market is smaller but cleaner, and firms built for it export that credibility.Settled, exportable rules.
✓
Our own London office
Prifinance files UK mandates from 7 Bell Yard. The desk that drafts your application sits in the supervisor's city.The supervisor's city.
How it compares
How the UK differs from other routes.
The UK trades cost and time for the industry's strongest stamp. The comparison is below.
UK vs other jurisdictions
| Feature |  United Kingdom | Other jurisdictions |
|---|---|---|
| Regime | FSMA · MIFIDPRU - FCA | MiFID desks or offshore |
| Own funds | £75k-£750k by model | US$0-2M spread |
| Credibility | The benchmark | Varies to none |
| Timeline | 9-15 months | Weeks offshore, months EU |
Regime
United KingdomFSMA · MIFIDPRU - FCA
Other jurisdictionsMiFID desks or offshore
Own funds
United Kingdom£75k-£750k by model
Other jurisdictionsUS$0-2M spread
Credibility
United KingdomThe benchmark
Other jurisdictionsVaries to none
Timeline
United Kingdom9-15 months
Other jurisdictionsWeeks offshore, months EU
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| United Kingdom | FCA investment firm | 25% CIT · 19% small | MIFIDPRU tiers, CASS, PS19/18 |
 Cyprus | CySEC CIF | 15% CIT (2026) | IFD €75k-€750k, EU passport |
 Australia | ASIC AFSL | 30% · 25% base | NTA A$1M, CFD order |
 UAE · DIFC | DFSA Cat 3A/2 | 9% · 0% qualifying | US$500k-2M, common law |
United KingdomLicense typeFCA investment firm
Taxation25% CIT · 19% small
RequirementsMIFIDPRU tiers, CASS, PS19/18
CyprusLicense typeCySEC CIF
Taxation15% CIT (2026)
RequirementsIFD €75k-€750k, EU passport
AustraliaLicense typeASIC AFSL
Taxation30% · 25% base
RequirementsNTA A$1M, CFD order
UAE · DIFCLicense typeDFSA Cat 3A/2
Taxation9% · 0% qualifying
RequirementsUS$500k-2M, common law
Before you apply
Requirements for FCA authorisation.Requirements for authorisation.
The FCA reads everything and tests the people. The craft is a file where the model, capital and conduct story cohere. The checklist below is what a passing application contains.
01
UK entity. A limited company with its mind and management in the United Kingdom.
02
Own funds - £75,000, £150,000 or £750,000 by model, plus K-factor and fixed-overheads calculations modelled forward.
03
Approved persons. SMF holders with demonstrable track records, vetted individually under SM&CR.
04
Transparent ownership. Controllers disclosed and assessed to UBO level.
05
Regulatory business plan. The dealing model, flow economics and three-year financials the FCA can interrogate.
06
CASS arrangements. Client money segregation, reconciliation and the audit trail, designed before launch.
07
PS19/18 compliance. Leverage caps, margin close-out, negative balance protection and no inducements, engineered into the product.
08
Best execution and conflicts. Order-handling policy that survives supervision of a dealing desk.
09
AML/CFT framework. KYC, monitoring and SAR reporting with a resident MLRO.
10
Substance. Real UK presence: offices, executives and operations the FCA can visit.
01
UK company, run from the UK.
02
Own funds per MIFIDPRU tier.
03
SMF holders, individually vetted.
04
Controllers to UBO level.
05
Interrogable business plan.
06
CASS architecture designed.
07
PS19/18 engineered in.
08
Best-execution policy that survives.
09
AML with resident MLRO.
10
Substance the FCA can visit.
Reflects FSMA, MIFIDPRU, CASS and PS19/18 as of 2026.FSMA + MIFIDPRU + CASS + PS19/18, as of 2026.
How it works
From first call to the FCA register.
01
Model and strategy
Principal or agency, permissions and capital tier. Fixed in writing before any drafting.Principal or agency - in writing.
02
UK company and people
Incorporation, capital evidence and the SMF holders the FCA vets individually.Incorporation, capital, SMFs.
03
The application file
Business plan, capital models, CASS and conduct documentation. Complete before filing, because the FCA reads everything.Complete. The FCA reads everything.
04
FCA review
Question rounds and interviews answered - 9-15 months realistic end to end.9-15 months realistic.
05
Authorisation and launch
The register entry, CASS audit calendar, liquidity and banking live. The benchmark stamp at work.Register, CASS, liquidity on.
Quick facts
RegulatorFCA
Own funds - agency£75,000
With client money£150,000
Own account£750,000
Retail leverage30:1 → 2:1 by class
Client moneyCASS regime
Realistic timeline9-15 months
Our presenceOwn London office
The FCA authorises models it understands completely, run by people it has tested. Being ready for both is the entire game, and our job.
On the ground in London
Licensed from the city we work in.
Prifinance - United Kingdom
London · 7 Bell Yard
7 Bell Yard, London
01
UK company formation
Incorporation, capital structuring and the corporate layer the FCA expects. Built for the permission from day one.Built for the permission.
02
The FCA file
Regulatory business plan, MIFIDPRU capital models, CASS architecture and the PS19/18 conduct stack. Drafted by our London team and defended through the rounds.Drafted in the supervisor's city.
03
SM&CR people-work
SMF candidates prepared for vetting. Track records, statements of responsibility and interview readiness managed as their own workstream.Candidates prepared properly.
04
Substance and staffing
Resident executives, compliance and MLRO from London's deepest talent market. Assembled from our own office in the city.From our own office.
We also have offices in
Tallinn
Estonia
Roseni 13
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 UK.
25% headline with a 19% small-profits rate. Developed-market taxation for the market that justifies it.
Corporate tax 25% · 19%
The 25% main rate with 19% below the small-profits threshold and marginal relief between. Most licensed startups begin below the headline.Marginal relief between.
No VAT on financial services
Dealing and intermediation in financial instruments are VAT-exempt; the 20% standard rate touches only ordinary supplies.20% only on ordinary supplies.
Trading-loss flexibility
Carry-forward and group-relief rules absorb the build-phase losses licensed brokers typically book. Modelled into the capital plan.Build-phase absorbed.
R&D relief
Platform build-out claims the merged R&D expenditure credit. Real money back on the technology a broker actually builds.Platform build-out pays back.
Dividend efficiency
No withholding on outbound dividends. The UK remains structurally clean for international holding structures.Structurally clean.
Treaty network 130+
The world's deepest treaty network. Group structures above the UK entity model cleanly.World's deepest network.
Tax summary
Corporate tax25% · 19% small
VAT on financial servicesExempt
Dividend withholdingNone
R&D reliefMerged credit
Tax treaties130+
*Figures as of 2026 per HMRC. 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: UK 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, authorised broker.
Follow Prifinance
Active across our channels.
United Kingdom · FCA
Launch your forex project in the UK with expert support.
Full-service assistance - from incorporation to FCA authorisation, CASS and ongoing compliance - from our own London office.
Get a consultation →Free legal opinion
Is the UK 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 UK forex licence: frequent questions.
What licence does a forex broker need in the UK?+
FCA authorisation under FSMA with permissions matched to the model - dealing in investments as principal for market makers, matched principal or arranging for agency brokers - covering CFDs and rolling spot forex as MiFID-derived investments.
What capital does the FCA require?+
MIFIDPRU own-funds floors: £75,000 for firms neither dealing nor holding client money, £150,000 where client money is held, £750,000 for dealing on own account - with K-factor and fixed-overheads requirements calculated above the floors.
What are the PS19/18 retail rules?+
The FCA's CFD framework: leverage capped 30:1 to 2:1 by asset class, mandatory negative balance protection and margin close-out, and a ban on bonuses and inducements. The product must be engineered for them from day one.
How long does authorisation take?+
Realistically 9-15 months - the FCA reads the full file, tests SMF candidates under SM&CR and probes the dealing model. Completeness and prepared people are the speed levers; both are our job.
What substance is expected?+
A UK company genuinely run from the UK: resident SMF holders, compliance and MLRO, CASS-grade operations and offices the supervisor can visit. The FCA authorises businesses, not addresses.
How are UK brokers taxed?+
25% corporation tax (19% small-profits rate), VAT-exempt financial services, no dividend withholding, R&D relief on platform build-out and the world's deepest treaty network.
What is CASS and why does it matter commercially?+
The UK client-money regime - segregation, daily reconciliation, annual audit. It is the standard counterparties trust by name: passing CASS cleanly converts into banking and liquidity relationships.
Does the UK licence passport into the EU?+
No - that ended with Brexit. UK-authorised brokers serve the UK and non-EU world; EU retail flow needs an EU MiFID licence like the CySEC CIF, and serious groups hold both. We sequence the pair.
Is the UK worth it against offshore alternatives?+
Different products entirely: offshore licences price speed, the FCA prices trust. Institutional counterparties, UK retail and premium PSPs require the real thing - groups typically pair an FCA core with offshore satellites, cleanly separated.
Why Prifinance for the UK?+
Our own office in London, SM&CR preparation as a dedicated workstream, and a file built for a regulator that reads everything. The home-desk advantage in the market that matters most.
What licence?+
FCA authorisation - permissions by model.
Capital?+
£75k/£150k/£750k + K-factors.
Retail rules?+
PS19/18 - 30:1, NBP, no bonuses.
How long?+
9-15 months realistic.
Substance?+
Real UK operations, tested people.
Taxes?+
25%/19%; no dividend WHT.
CASS?+
The trusted client-money standard.
EU passport?+
Gone - pair with a CySEC CIF.
Vs offshore?+
Trust vs speed - pair deliberately.
Why you?+
Own London office, SM&CR craft.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“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…”
Google
“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”
Google
“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.”
Google
“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…”
Google
“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…”
Google
“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!”
Google
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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 UK route fits your project and what it will cost.
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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 Financial Conduct Authority (FCA) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.