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Company Formation Panama



Forex Trading Licenses in Panama

Updated on Monday 06th September 2021

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Forex Trading Licenses in Panama.jpgAn 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 Superintendent (the financial authority of Panama) to develop technology that the brokerage houses should maintain for the exercise of this activity. Superintendent was previously named as Comisión Nacional de Valores, but after amendment it was changed to Superintendencia del Mercado de Valores. In this country, 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 licensing.
Obtaining forex trading licenses in Panama is easier with the help of a professional consultancy firm. You can rely on the services of our Panama incorporation experts for assistance in Forex trading and incorporation.

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 a principal executive; however, the number of principal executives may change depending upon the volume of the business. These principal executives must have the corresponding licenses issued by the Superintendent;
  • The articles of incorporation should have a corporate purpose satisfactory to the activities regarding broker-dealer house business;
  • Fees for the application of forex trading licenses in Panama;
These are the general requirements that are necessary to be fulfilled by the applicant. For further details, you can interact with our consultants for forex licensing requirements and Panama offshore company formation.

Cost for forex licensing in Panama

The Supreme Court in Panama sets attorney fees at least US$5,000 for brokerage house license application in 2001, and the government registration fee for a brokerage house is also US$5,000. The supervision fee equivalent to 0.0025% of yearly trades (minimum US$5,000 and maximum US$10,000) must be paid to the Superintendent on yearly basis.
You can get the assistance of our experts for clearing any ambiguity related to the forex trading license cost and the general incorporation process.
We can also answer any questions about Panama company formation.

Why is it necessary to work with a licensed broker?

A licensed forex broker means that this brokerage organization has voluntarily completed the process of obtaining forex trading licenses in Panama. Such brokers are reliable and it is safe to work with them because their work is controlled by competent organizations. In some jurisdictions brokers are not required to obtain licenses. An unlicensed broker is also a legally registered organization although its activities are not under any check and balance by competent authorities. But it does not mean that such brokers are unreliable, the thing is that investors and traders have no guarantees when they work with such brokers.
A special council Consejo de Coordinacion Financiera coordinates actions among all the financial regulators supervising banks, coops, securities brokers, pension funds, insurance, and finance companies with the involvement without a vote of the anti-money laundering bureau of Panama and the Accounting Board. So, working with a licensed broker is more important regardless of the type of license that broker holds.

3 best forex brokers in Panama

If you are planning to obtain forex trading licenses in Panama, you need to look at these three trading platforms that Panamanian traders are already using. These trading platforms are as follows:
  1. AvaTrade: it is an online broker founded in 2006. This broker offers Speed Betting trading, Social Trading, and Forex trading;
  2. XM: it was founded in 2009, and offers support to its traders in 30 languages. Around 1.3 million traders choose XM as their broker;
  3. Roboforex: it is a global broker that was founded in 2009. This broker only requires a minimum of US$1 deposit to start trading.
You can contact our consultants for details about the forex trading licenses in Panama.
You are also welcome to get any assistance related to setting up a company in Panama.


Meet us in Panama

Call us now at +44 203 287 0408  to set up an appointment with our business consultants in Panama City, Panama. Alternatively you can incorporate your company without traveling to Panama.

As a BridgeWest client, you will benefit from the joint expertise of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Panama.

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