Canada    FinTech Guide    Chapter 4    Luxembourg

4. Trading Platforms / Social Trading Platforms / Signal Following
Luxembourg  Luxembourg

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.

Legal Affairs

We must to identify the information with advice or without advice:

  1. Without advice: no regulation.

  2. With advice: investment advice or trading activities through the platform, a license is required with the following requirements:
    1. The share capital minimum from EUR 50,000 to EUR 125,000 depending on the activities.
    2. Directors and shareholding requirements
    3. Administrative substance in Luxembourg
    4. 3-year business plan:
    5. Costs for getting a license : EUR 15,000 to be paid to the CSSF
    6. Annual license : from EUR 12,000 to EUR 60,000 depending on the activities to be paid to the CSSF.

Economic Conditions

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.

Contributing Authors

Felten & Associes

Bernard Felten

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Chapter Index:

1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 August 2019