Financial advisory and broking services including robo advisory and auto-trading
FinTechs belonging to this category offer advisory and broking services for investments usually via an internet platform.

Robo advisory services usually offer an investment proposition following a series of questions concerning the personal financial background and the risk-bearing capacity of the user. Sometimes the respective platform also enables the user to directly execute the proposed investment. 

Auto-trading concerns all services which automatically trade on behalf of the customer according to his or her specifications.

Apart from that some FinTechs collect and offer merely or as an ancillary service market information or operate comparison portals to increase the transparency of the capital markets and to help the investor with his decision-making. 

There are also FinTech-advertising-services which advertise various financial services or products.


Attitude of the country towards modern financial advisory and broking services

There is no significant social or political climate towards this kind of advisory services in BiH. It can be expected that provision of these services will increase with the further development of BiH market.

Legal affairs

Obligations and requirements to provide financial advisory and broking services, or ancillary services described above

The legislation regulating capital markets recognises advisory and broking services as licensable activities which may be performed by licensed investment companies – i.e. broker-dealer company and authorised banks. Capital markets in BiH are regulated at the entity level (FBiH and RS). Thus, regulations pertain to the capital markets in FBiH, which has a regulatory framework and institutions of its own, or the RS capital marker, to which the same applies. However, it should be noted that even though this matter is regulated separately at the entity level, there is a certain harmonisation of applicable regulation between the two (2) entities. Pursuant to both FBiH and RS Law on Securities Market, as applicable legislation in regard to this matter, investment companies are obliged to obtain a license issued by relevant Securities Commission depending on the registered seat of the company. Aforementioned laws, as well as relevant bylaws, provide a list of requirements for investment company license. In regard to the capital requirements, initial capital for the investment companies amounts to BAM 200,000 (approx. EUR 100,000) in FBiH and BAM 250,000 (approx. EUR 125,000) in RS. The fee for obtaining the licence amounts to BAM 8,000 (approx. EUR 4,000). 

There are no laws and regulations on robo advisory or requirements for different business models using robo advisory.

Additional comments regarding the legal situation for financial advisory and broking services, or adjacent services or what FinTech’s must be aware of in this business area


Economic conditions

Market size for financial advisory and broking services as well as adjacent services and biggest companies in this business area

The market in BiH is relatively small and undeveloped. There is no publicly available information on the number of customers of companies operating in the sector of advisory and broking services. A list of registered companies to perform this activity in FBiH and RS can be found on the following links: and The lists consist of six (6) registered licenced companies in RS and seven (7) in FBH.

Additional comments regarding the economic situation for financial advisory and broking ser

vices as well as adjacent services or what FinTech’s must be aware of in this business area Generally, Bosnian market is still in its developing stages. However, it is expected that an increase in financial instruments trading in the forthcoming period may influence the further development in this sector.



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