Discount Broker
A streamlined brokerage licence for online and technology-enabled platforms focused on low-cost, high-efficiency retail and institutional order execution.
A Discount Broker licence is the most targeted of the three Investment Dealer categories, designed specifically for technology-driven, low-cost execution platforms that provide order execution services without advisory, research, or principal trading activities.
Permitted Activities
A Discount Broker may receive, transmit, and execute client orders in securities on an execution-only basis. No investment advice, research, or market making is permitted.
Capital Requirements
Discount Brokers are subject to the lowest minimum capital requirements, reflecting the execution-only nature and absence of both advisory and principal risk.
Technology Requirements
Applicants must demonstrate robust, secure technology infrastructure capable of handling client orders and executing trades in accordance with FSC requirements.
Client Onboarding
Despite the streamlined nature, Discount Brokers must implement comprehensive KYC/AML client onboarding procedures. Digital onboarding solutions are acceptable.
Fee Structure
Discount Brokers typically operate on a commission-per-trade or subscription fee model, providing investors with transparent, low-cost access to securities markets.
Licensing Process
Discount Broker applications focus heavily on technology systems, cybersecurity, AML/CFT onboarding procedures, and the business model's viability.
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Our team will guide you through every step — from initial structuring advice through to incorporation, licensing, and ongoing administration.