There are no social and political reservations towards trading, social trading or signaling platforms. The local market is small. All the platforms are targeting international clients.
We must to identify the information with advice or without advice:
- Without advice: no regulation.
- With advice: investment advice or trading activities through the platform, a license is required with the following requirements:
- The share capital minimum from EUR 50,000 to EUR 125,000 depending on the activities.
- Directors and shareholding requirements
- Administrative substance in Luxembourg
- 3-year business plan:
- Costs for getting a license : EUR 15,000 to be paid to the CSSF
- Annual license : from EUR 12,000 to EUR 60,000 depending on the activities to be paid to the CSSF.
KEYTRADE BANK LUXEMBOURG was the first online platform in Luxembourg. There are various platforms through a partnership with SAXO BANK such as INTERNAXX, HMS.
Most of the web platforms have now mobile App with watch lists to help seizing market opportunities.