How To Start A Forex Trading Company In Dubai (2022)
While new laws and policies on foreign business owners have made it easier to start business in Dubai, entrepreneurs and foreign investors still need to acquire certain licenses or permits to operate legally in Dubai.
If you’d like to establish a business focusing on Forex trading, here’s what you need to do to get started on your new business setup Dubai:
- Study the market
Doing proper research to learn about the market is a crucial step in establishing a business. Even if you have years of experience in doing business, it won’t hurt to investigate the needs of your potential market as well as the trends in providing the services you offer. Needs of your potential market also change with time, so you need to keep up with these to ensure that you are providing the needs of your customers in the most convenient way to encourage them to keep their business with you.
- Find a reliable broker
If you’re new to Forex trading or business establishment in general, you need to find a reliable broker who can provide you with a dependable Forex trading platform. Business setup in Dubai cost can be expensive, especially when you consider the cost of your day-to-day operations, as well as the costs of acquiring documents and licenses. Hence you need to make sure that you are investing in or working with credible or reliable business partners in Dubai. When possible, request a demo account so you can familiarize yourself with the trading interface provided by the broker before finalizing any transaction. Once you have determined that you agree with all of the restrictions or regulations, you may work on finalizing the transactions with the broker for your forex trading business.
- Obtain a license for Forex trading
Contact the Dubai Financial Service Authority (DFSA) to acquire a forex trading company license for your forex trading business. This office is responsible for overseeing the trade of commodities, foreign currency, international stocks, and other financial instruments in the country. They also conduct a business fit test to determine the credibility of brokerage companies. You will only be granted a license once the DFSA determines that you are competent to run a forex trading company in Dubai.
Whether you need to help with legal procedures in starting a business or you are looking for affordable office space to lessen your business setup in Dubai cost and still be able to provide a facility for your growing team, Austria Business Center offers a range of business solutions and office for rent to meet all your business needs. You may also book serviced offices if you need a meeting room to meet with clients or conduct interviews.