Forex trading

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  • #6504

    Lead is interested to set up forex trading firm in the UAE. Not brokers, only traders. We informed him this activity is not allowed and take financial consultancy instead. Lead is ok with it.

    We are tyring to make a quotation using the expert form. Need expert help to identify which description will work for this activity.

    SHAMS
    Other financial service activities, except insurance and pension funding activities,
    This Class Includes : 6499.01 —other financial service activities primarily concerned with distributing funds other than by making loans:• factoring activities• writing of swaps, options and other hedging arrangements• activities of viatical
    settlement companies6499.02 —own-account investment activities, such as by venture capital companies, investment
    clubs etc.

    Other activities auxiliary to financial service activities
    This Class Includes : 6619.01 — financial transaction processing and settlement activities, including for credit card transactions6619.02 — investment advisory services6619.03 — activities of mortgage advisers and brokers6619.04 — trustee, fiduciary and custody services on a fee or contract basis

    DWC
    6599-11 Money Exchangers
    Includes financial firms which work for their own account or the account of others in money exchange field, which is based on the purchase and sale of negotiable foreign currencies, monetary notes and coins. Their activities also include the purchase and sale of travelers’ cheques, financial transfers and other exchange activities regulated by the laws and statutes of the Central Bank. This activity does not include firms working in financial and monetary brokerage.

    Thank you!

    #6518

    We advised lead that forex trading is not allowed inside UAE. Is financial consultancy can do forex trading in freezone. Lead wants to do trading with inside brokers.

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