Forex trading is one of the largest businesses worldwide and makes a business of $3 Trillion in just 1 week. It’s an exchange of currencies from one currency to another at their agreed rate. Nowadays, more and more peoples are turning to foreign exchange to make their investment protected. Forex Trading business in Dubai is also increasing in a wide range due to the business hub and becomes the future platform for trading.
Forex trading License in Dubai
Dubai Multi Commodity Center (DMCC) offers a Forex Trading License. To set up your Forex Trading business in Dubai, you need a verified license from DMCC.
Question which may be asked to Investor
Here are some relevant questions which may be asked form the investor for a Forex Trading License which will get you a green signal for global investment and also helps your investors to believe in you.
- What is your experience in this sector and how will you manage this?
- Do you have a professional certificate in this industry?
- Provide the financial details of the applicant and the sources of the funds to be invested? Also, attach needed documents.
- Who are your investors?
- What exchange will you provide for them?
- Which markets are related to you?
- What financial instruments will you involve in trading?
- Will you use third-party clients?
Documents Required for Trading License
- Passport Copy
- Visa Copy
- Trade Name
Cost for setting up Forex Trading Business
The setup cost of a Trade business in Dubai is 32000 AED and also you need to choose your office presence like it will be flexi desk or office space and then get approval from authorities.
The applicant needs to have minimum capital share value 50,000 AED and a bank guarantee letter need to be shown DMCC authorities.
Benefits of Forex Trading Business in Dubai
When it comes to the exchange market, people seem scary to invest their money and in that case, Forex Trade becomes the first choice of investors. Also, it’s easy to start with minimal deposits and user-friendly. Many investors start their Forex trading business in Dubai for its easy setup and 0% income tax or any kind of corporate tax.
As a most trading business, you will get maximum clients or investors in just limited time and corporate environment of Dubai will help you to reach your goals faster.
Forex Trading is recession proof through which you can trade anytime, anywhere in the world with a device and internet connection with low transaction costs.