Main requirements

1. Registering with the National Futures Association (NFA) as a Futures Commission Merchant (FCM) or Introducing Broker (IB).
2. Meeting minimum capital requirements, which vary based on whether the firm is an FCM or IB.
3. Complying with anti-money laundering and combating the financing of terrorism (AML/CFT) laws and regulations.
4. Submitting a detailed business plan outlining key operating assets, market strategies, financial estimates, and risk management measures.
5. Providing photocopies of passport details of shareholders, management, and key personnel.
6. Presenting residence registration documents for shareholders, executives, and important team members.
7. Obtaining professional references of senior staff demonstrating their expertise in foreign exchange operations.
8. Ensuring criminal record-free identification for shareholders, management, and key executives.
9. Paying a license fee and submitting proof of identity and residency.
10. Passing a criminal background check.