The following legal entities can be registered as forex brokers in the NFC

• legal entities registered in the Republic of Belarus, whose authorized capital is formed in the amount of at least BYN 200 thousand, and included into the register of forex companies by the National Bank of the Republic of Belarus (hereinafter referred to as forex companies). The conditions for including forex companies into the Register are described here.
• a bank, a non-bank credit and financial organization (NCFO) carrying out operations in the OTC Forex market.

Forex brokers are required to transfer funds to the NFC Guarantee Fund

Registration fees in the amount of USD 55,000 are transferred by:

• forex companies - within three working days from the date of the National Bank Certificate on including forex companies into the Register, but no later than the day of the first agreement on non-deliverable OTC financial instruments;
• by banks (NCFO) - no later than three working days before the date of the first agreement on non-deliverable OTC financial instruments.

Calendar contributions are transferred by forex brokers to the Guarantee Fund in the amount of at least 5 percent of the total margin amount calculated as of the last working day of the week.

Forex brokers have the right to refund accounting and/or calendar fees in accordance with the procedure established by law.  

Forex brokers are required to submit reports to the NFC on OTC Forex market activities

In order to submit reports, forex brokers are required to meet the described below requirements established by the NFC:

• to submit documents proving the forex broker`s legal capacity;
• to be connected to the "Personal Account" including: 
  • registering an authorized representative;
  • concluding an agreement with the NFC
  • connecting to the BCSE EDSM system. The procedure for EDMS connecting is described here.
  • verifying the software for OTC Forex market operations and reporting to the NFC.

 The procedure is described here.