Regulators： The financial authority of Panama

Regulatory region： Panama

License Type： financial licence

Application price (USD)： 150000 deposit

Application frequency： 3-5months

Maintenance costs (USD)： *****

Company summary： An individual can obtain a forex broker license and enter the business of trading foreign currencies. Foreign exchange is a marketplace where one currency is exchanged for another currency and the traders can make profitable ventures due to fluctuations between currency values. In the amended law of Panama, Article 44 defines Forex activity as the operation of selling and buying currency and coins at a price or exchange rate (Foreign Exchange Market) regularly. Article 44 further authorizes the Superintendency (the financial authority of Panama) to develop technology that the brokerage houses should maintain for the exercise of this activity. The Superintendency was previously named as Comisión Nacional de Valores, but after amendment it was changed to Superintendencia del Mercado de Valores. Forex futures and options could only be traded by companies that hold forex trading licenses in Panama while government transactions are exempt with some exceptions from the compulsory lic

Product details： Requirements for a Panama forex trading license If you are interested in obtaining a Panama forex trading license, then here is the list of requirements for the brokerage house: - You must have a paid-up capital of a minimum of US$150,000, and you must be very dedicated to the broker-dealer house business; - You must have your offices in Panama; - A board of directors with proven professional and business integrity is required, or at least three individuals equivalent to the board of directors. Corporate directors are not permitted; - A minimum of one third of the members of the board of directors should have knowledge and experience of the stock market or have a general experience in the financial sector. On a side note: those individuals deemed to have adequate knowledge and experience who have worked as principal executives or have done other finance-related jobs in the public or private sectors for at least two years; - Every broker-dealer house appoints at least one person as