The capital you need depends mainly on your licence and whether you deal on your own account. Regulatory minimums range from about US$100,000 for a Seychelles securities dealer and MUR 1 million for a Mauritius full-service investment dealer, to €75,000–€750,000 in Cyprus, £75,000–£750,000 in the UK, and at least US$20 million for a US retail forex dealer. On top of regulatory capital, you need working capital for technology, liquidity margin, staff, compliance, marketing and several months of running costs before revenue covers expenses.
- Regulatory capital depends on the licence and whether you deal on own account.
- Top-tier licences (UK, EU) need €/£750,000 for market makers; agency models need less.
- Offshore licences need far less regulatory capital, but substance is still required.
- The US is the most demanding: at least $20 million for retail forex dealers.
- Budget separately for working capital: technology, liquidity margin, staff and marketing.
Looking for a turnkey brokerage? Platform, liquidity, CRM and payments in one package for your licence.
"How much money do I need?" is the most common question from new brokerage founders. There are two parts to the answer: the minimum capital your regulator requires, and the working capital your business needs to operate until it is profitable.
Minimum regulatory capital by licence
| Licence | Minimum capital | Notes |
|---|---|---|
| United Kingdom (FCA) | £750,000 / £150,000 / £75,000 | £750k if dealing on own account; £150k if holding client money without dealing; £75k otherwise. Own funds must also cover other requirements |
| Cyprus (CySEC) | €750,000 / €150,000 / €75,000 | €750k for dealing on own account; €150k for holding client money; €75k for advice or agency without client money |
| United States (CFTC/NFA) | US$20 million+ | Minimum adjusted net capital for retail forex dealers, rising with liabilities |
| Mauritius (FSC) | MUR 600,000 to MUR 10 million | MUR 1 million for Full Service Dealer (excluding Underwriting), the usual broker category |
| Seychelles (FSA) | US$100,000 | Minimum paid-up capital for a securities dealer; the FSA may require more |
For licence details, see our guides to the UK, CySEC, USA, Mauritius and Mauritius vs Seychelles.
Why your execution model matters
Regulators ask for more capital when you deal on your own account (market maker or B-book), because you take on client risk. Agency (A-book or STP) brokers that pass trades to liquidity providers usually face lower minimums. Read A-book vs B-book vs hybrid.
Working capital you also need
| Item | What drives the cost |
|---|---|
| Company and licence set-up | Jurisdiction, legal fees, application fees |
| Trading technology | White label or own licence, CRM, hosting; see MT5 white label cost |
| Liquidity margin | Deposit with liquidity providers, depending on volume and credit terms |
| Staff and substance | Directors, compliance, support and dealing staff in the jurisdiction |
| Payments and banking | Set-up fees, reserves held by payment providers |
| Marketing and IBs | Acquisition costs before revenue builds up |
| Running costs | Several months of expenses before break-even |
For a full budget, read how much it costs to start a forex brokerage and forex licence cost comparison.
Ways to start with less capital
- Start as an introducing broker; see how to become an IB.
- Use an agency model to reduce capital and risk.
- Use a white label instead of buying your own platform licence.
- Choose a licence that matches your real target markets, not the most prestigious one.
Our own custom CRM and software plans start from USD 500; platform and turnkey packages are quoted separately.
General information reviewed November 2026, not legal, tax or investment advice. Figures and rules change; confirm with the regulator or qualified counsel before relying on them. MetaTrader is a trademark of MetaQuotes Ltd.