Updated 08/06/2023
Kazakhstan Forex License (authorization) allows to trade forex exchange (currency) and crypto assets alone without need to apply for crypto license additionally. Kazakhstan financial markets regulation does not consider the Forex Trading as a regulated financial activity, but implies much less regulatory requirements compared with full brokerage prudential, AML policy and other general requirements.
Forex trading authorization is a legal concept that allows to set up and start running a forex trading activity in no more than 2 weeks from the moment of sharing the shareholders ID documents with our fintech attorney for company formation. Fastest, affordable and reliable option to acquire an access to FX trading market just in no time.
Here is a brief and key highlighted comparative table used by our clients to make an informed decision.
| License type | License functionality | License authority (licensor) | License authorization fee | Registration fee (company formation) | supervision fee (annually) | capital base requirements | liquid assets requirement (liquidity ratio) | AML policy Internal/External audit policy | law firm’s average charge |
| FX trading authorization | foreign exchange (currency), digital assets (crypto) trading | Ministry of Justice, Financial Monitoring Agency | $1,000 | $50 | – | $100 | – | – | $10,000 |
| Brokerage license | foreign exchange (currency), digital assets (crypto), commodities, stocks, futures, bonds, options and etc. | Ministry of Justice Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market | $250 | $50 | – | $3,000,000 | 1.4 | + | $100,000 |
| Dealing in investments as an agent | foreign exchange (currency), digital assets (crypto), commodities, stocks, futures, bonds, options and etc. | AFSA | $10,000 | $300 | $7,000 | $50,000 | 25% | + | $25,000 |
| Dealing in investments as a principal | foreign exchange (currency), digital assets (crypto), commodities, stocks, futures, bonds, options and etc. | AFSA | $10,000 | $300 | $8,000 | $500,000 | 25% | + | $25,000 |
Brief legal framework of financial regulated activity
Pursuant to Law of Republic of Kazakhstan on “Securities market” dated July 2, 2003 government body authorized to regulate licensure questions for trading related only to securities appointing National Bank and Agency for Regulation and Development of Financial Activity (hereinafter – Agency) as the main regulators.
National Bank and Agency together pursue a state policy to ensure the functioning and development of the securities market, the development of its infrastructure, monitors and analyze the current state of the stock market and its participants, provides an appropriate level of protection of the rights and interests of investors, as well as the completeness and availability of information on the activities of securities market entities.
Forex trading (currency trading) is mainly related to trading with currencies considered as values based on literal interpretation and closely related to digital assets trading, including crypto coins, and therefore are considered as subject of financial monitoring.
One of the main requirements to comply with counteraction of legitimization (laundering) of incomes received by illegal means, and financing of terrorism is giving a notice before forex trading (currency trading) with further annual renewal, including or excluding digital assets trading.
Our fintech attorneys are professionals with a proven track record in FinTech industry will help you with Forex License in Kazakhstan.