Dominica used to attract Spanish, French, and British conquerors since the 16th century, but today the islands have become in the top tax-free states and beckon already traders and entrepreneurs.
The popularity of this rapidly growing financial zone is due to:
– zero rate of taxation
– favorable conditions for doing and opening a business, simplicity in matters of administration by the state
– confidentiality, which is ensured by closed registers with data on founders, beneficiaries, directors
– possibility to obtain citizenship through investments
– there is no restriction on areas of activity, it is possible to obtain permits for several types of activities at once (banking, insurance, trust activities, etc.).
– a registered offshore company has no right to conduct business on the territory of the state and has no right to own real estate.

The global forex market with a turnover of $6.6 trillion per day and over 9 million online traders is growing at 300% per year and according to research will continue to grow. Some of the brokers in Dominica include RoboForex, EagleFX, Plus500, SimpleFX,, and ICM Capital. Traders with Dominica forex license prefer to work in pairs with traditional currencies like the US dollar, euro, pound sterling, or yen; cryptocurrencies are not prohibited.

Advantages of a forex license in the Commonwealth of Dominica

  • Dominica forex license price takes only 1 month
  • Brokers don’t need to be required to have a physical office or employees
  • Financial Dealers take care of the annual audit at no additional cost
  • Brokers don’t need to disclose their dealing strategy, they can be a market-maker or STP
  • Renewal fee: $25,000 (From the second year and onwards)
  • The capital requirement: $50,000 (Will be maintained in a segregated bank account, refundable in case the broker gives up the license)
  • Quick KYC and AML verification procedure
  • An open bank account gives access to USD and EUR, use of IBAN, Visa, and MasterCard, possibility to work with SEPA and SWIFT
  • High level of confidentiality of personal data

Requirements for obtaining a Forex license in Dominica

There are about a lot of traders in this jurisdiction, among which are: Forex4you, Tickmill, Global Prime, and Fusion Markets. Mostly brokers that are just starting their activities are registered here.

To obtain a license of margin and spot derivatives, CFD dealer process in the jurisdiction of the Commonwealth of Dominica it is necessary to:

  • Collect the necessary documents about the company
  • Fill out the application form on the website
  • Register the company
  • Deposit the mandatory returnable reserve capital of US$50,000 into a corporate bank account.
  • Pay registration and license fees

The application process takes about 25 working days. Documents must be translated into English

Setting up a company in Dominica

The Commonwealth of Dominica provides a truly paradisiacal environment for doing business:

  • A company can be managed by either a legal entity or an individual (no requirement to hire a local director)
  • The structure must have one director and one shareholder
  • The company name must be Limited, Incorporation, or Corporation (and pass a check to ensure that there is no previously registered company with the same name).
  • No local office is required
  • No corporation tax
  • No requirements for a place of meeting for shareholders and managing directors
  • No need to file financial statements with the registrar
  • No requirement to pay the entire share capital (usually the share capital is $100k, but it can be divided into 100k shares of $1 each).
  • No restrictions on a single line of business

Requested documents for new company incorporation:

  • For the UBO, director of the new company
  • Certified Passport
  • CV
  • Proof of address (no older than 3 months)
  • Criminal record (No older than 6 months)
  • Business Reference
  • Character reference
  • Application form (By Financial Dealers)

Company registration takes place at the State Chamber in 24 hours.

Forex consultant in Dominica


Eugen Fomin

Regulation of forex licenses in Dominica

The Commonwealth of Dominica’s Financial Services Authority (FSU) is the island’s financial regulator, reports to the Ministry of Finance, and regulates all offshore banks, credit unions, gaming companies, and other financial organizations.

Dominica adheres to international FATCA rules, FATF, and EU standards.

The activities of financial dealers are controlled by the following regulations:

  • Financial Services Divisions Law No. 18 of 2008.
  • Companies Act No. 21 of 1994.
  • International Business Companies Act of 1996.

Instead of a formal licensing process, several principles apply throughout the Commonwealth:

  • Compliance with all regulations and standards
  • Accountability to clients
  • Full access to information about the services offered

FAQ about a Forex License in Dominica

Is forex trading legal in Dominica?

Yes, forex trading is legal in Dominica.

How to get a Forex license in Dominica?

Fill out an application, collect a company packet (according to all requirements) and submit it to FSU.

How much does it cost to get a Forex license in Dominica?

Capital requirement: $50,000 (kept in a separate bank account, to be returned if the broker surrenders the license).

How long does it take to obtain a Forex license in Dominica?

Takes up to 1 month.

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