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NLA • NFSA license Families

Neves Financial Services Authority

NFSA is the dedicated financial services arm of the Neves Licensing Authority, a statutory supervisory body for activity conducted in or from Neves. NFSA focuses on licensing and ongoing oversight of financial and markets-facing business models.

Coverage
Trading • Prop • Payments
Clear license families for modern models.
Cross-border base
Structured Neves footprint
Framed permissions and disclosures.
Parallel authority
NGA separate page
Remote gaming licenses sit under NGA.

NFSA license families on this page

Complete listing of NFSA license categories and subcategories for public reference and scoping. license terms may include conditions and permission limits based on the applicant’s model and risk profile.

01
Capital Markets & DealingForex & multi-asset brokers
02
Proprietary TradingRemote prop & internal desks
03
PSPGateway & routing services
04
EMIWallets & stored value
05
Digital BankingDeposits & lending
06
Digital Assets & ExchangeSpot digital assets
07
Fund Management H1Pooled funds & MAM/PAM
08
Investment AdvisoryResearch & advisory
09
MSB RemittanceCross-border transfer
10
Custodian & TrusteeAsset/security holding
11
Insurance & ReinsuranceRisk cover & capacity
12
TCSPCorporate & fiduciary
Issued by NFSA Primary Forex & multi-asset brokers

Capital Markets & Dealing license

Primary license for Forex & multi-asset brokers providing access to FX, CFDs, indices, commodities, metals, energies, equity-linked instruments and (where permitted) crypto pairs used for trading.

Typical applicants: Forex brokers, multi-asset brokers, white-label brokerages, liquidity hubs and dealing desks.

Dealing – Principal / HybridInternalisation with defined hedging and risk limits
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The firm deals on its own account, may internalise client flow and can hedge externally where appropriate. Common for brokers using a market-making or hybrid book model, with defined risk limits and pricing policies.
Dealing – Agency / Execution-OnlyOrder routing to external liquidity providers
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Orders are routed to external liquidity providers. The firm does not run its own dealing book and focuses on pricing, routing, execution technology and connectivity for clients.
Dealing – Market MakerOwn bid/offer pricing, spreads and risk controls
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The firm provides its own bid/offer pricing, spreads and risk controls to clients and, where relevant, to other participants. Emphasis is placed on pricing integrity, conflict management and clear disclosure of the model.
Issued by NFSA license Proprietary Trading

Proprietary Trading license

Remote prop programmes & internal desks. For firms trading proprietary capital with clear evaluation, risk limits and payout mechanics (where applicable).

Typical applicants: online prop firms, funded trading programmes and institutions with internal prop desks.

Prop – Remote Online ProgrammesChallenges / evaluations with defined rules and payouts
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Fee-based evaluations and funded allocations backed by the firm’s capital or risk limits. The model must clearly explain rules, drawdowns, prohibited practices and payout terms.
Prop – Internal Institutional DesksInternal prop activity without mass-market challenges
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Proprietary trading using internal traders or teams. Used by groups that want a defined prop book and risk structure within the NFSA framework.
Issued by NFSA license PSP

PSP license – Payment Service Provider

Gateway, merchant and routing services. PSPs process and route payments without issuing stored value or holding customer balances as electronic money.

Typical applicants: payment gateways, merchant acquirers, orchestration platforms and routing hubs.

PSP – Merchant & Gateway ServicesCollection and settlement for merchants/platforms
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Checkout, card processing, alternative payment methods and payout rails as part of the PSP’s commercial activity.
PSP – Orchestration & RoutingRouting across processors and payout partners
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Routing transactions between multiple processors, banks and payout partners to optimise approval ratios and cost, without holding stored-value balances.
Issued by NFSA license EMI

EMI license – Electronic Money Institution

Wallets and stored-value balances. EMIs issue electronic money and hold customer balances for payment purposes (not deposit-taking banking).

Typical applicants: wallet providers, stored-value platforms, card and virtual card issuers.

EMI – Wallet & Stored-Value AccountsMulti-currency wallets and stored balances
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Load, hold and use funds for payments, transfers and withdrawals under defined limits and conditions.
EMI – Card & Token IssuanceCard/virtual card/tokenised instruments linked to wallets
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Issuing cards, virtual cards or tokenised instruments linked to stored-value balances, including programmes integrated with platforms.
Issued by NFSA license Digital Banking

Digital Banking license

Deposit-taking and lending activity delivered through digital channels, including current/savings accounts and credit.

Typical applicants: digital-first banks, group vehicles, specialised credit institutions.

Digital Bank – Retail & SMEIndividuals and smaller businesses
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Current and savings accounts, cards, payments, FX and suitable lending products for retail/SME segments.
Digital Bank – Business & InstitutionalCorporate and professional clients
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Accounts, credit lines, trade-related finance, treasury and banking services aligned to corporate needs.
Issued by NFSA license Digital Assets

Digital Assets & Crypto Exchange license

Spot digital assets and venues. For exchange-style platforms or broker/facilitator models providing access to digital asset trading.

Typical applicants: spot exchanges, OTC desks, tokenised venues and hybrid platforms.

Digital Assets – Exchange / Order-BookVenue model with listing, matching and settlement rules
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Order-book venues where participants place bids/offers and trade under defined listing, matching and settlement rules.
Digital Assets – Broker / FacilitatorOTC / RFQ arrangement without operating a full order book
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Intermediating/arranging digital asset trades (often OTC/RFQ) without operating a full exchange-style order book.
Issued by NFSA license Fund Management H1

Fund Management H1 license

Pooled investment and managed pools, including classic fund structures and MAM/PAM-style pools linked to trading platforms.

Typical applicants: fund managers, pooled vehicle operators, MAM/PAM structure providers.

H1 – Professional & Qualified Investor FundsPooled vehicles for professional/institutional investors
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Funds aimed at qualified investors with strategies spanning FX, multi-asset, systematic or discretionary approaches.
H1 – Managed Pools & MAM / PAM StructuresMaster accounts and pooled structures on platforms
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Managed pools, master–feeder structures and MAM/PAM arrangements with defined participation and exit terms.
Issued by NFSA license Investment Advisory

Investment Advisory license

Research and advisory activity supporting trading, funds or banking services operated under separate licenses or partners.

Typical applicants: advisory firms, research providers, strategy desks and platforms.

Advisory – General / Non-PersonalResearch, model portfolios and general guidance
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General research and guidance not tailored to one individual’s full profile (often used for content, signals or strategy tools).
Advisory – Personal / Profile-BasedAdvice for specific clients with documented scope
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Advice that takes into account the objectives and situation of specific clients, with documentation around suitability and scope.
Issued by NFSA license MSB Remittance

MSB Remittance license

Cross-border money transfer for individuals or organisations outside of a full banking license.

Typical applicants: remittance providers, corridor specialists, B2B transfer platforms.

MSB – Consumer & SME CorridorsIndividuals and smaller businesses via defined routes
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Corridor services for retail/SME send/receive flows using online channels and/or agent networks.
MSB – Corporate & Institutional CorridorsHigher-volume flows integrated with treasury/trade
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Corporate and institutional transfer flows, often integrated with trade, treasury or settlement activity.
Issued by NFSA license Custodian & Trustee

Custodian & Trustee license

Independent asset and security holding roles, separate from dealing, advisory or fund management.

Typical applicants: custodians, security trustees, escrow/settlement structure providers.

Custodian – Financial AssetsSafekeeping of instruments, balances and records
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Safekeeping with focus on control, segregation and reconciliations, independent from trading or management functions.
Trustee – Security & Transaction StructuresTrustee capacity in collateral and structured transactions
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Trustee roles in financing/collateral structures to hold security and enforce rights under documented terms.
Issued by NFSA license Insurance & Reinsurance

Insurance & Reinsurance license

Risk cover and capacity for projects, groups or defined risk pools.

Typical applicants: carriers, reinsurers, captives and risk cells.

Insurance – Primary CarriersIssuing policies directly to individuals or businesses
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Primary insurance activity, including niche or project-specific cover.
Reinsurance – Risk Capacity ProvidersAccepting risk from primary carriers / providing capacity
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Providing capacity to primary carriers or accepting risk via pooled/layered arrangements, including captive solutions.
Issued by NFSA license TCSP

TCSP – Trustee & Company Service Provider license

Corporate and fiduciary services for forming and maintaining companies, trusts and similar structures on behalf of clients.

Typical applicants: corporate service providers, trust/fiduciary firms, family office administration platforms.

Company Service ProviderIncorporation, registered office, governance support
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Company formation, registered office, secretarial and governance support including records and filings.
Trust & Fiduciary Service ProviderAdministration of trusts, foundations and similar arrangements
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Professional administration of trusts/foundations as fiduciary, alongside other advisers where applicable.
Note: The descriptions above are public summaries. license scope, conditions, reporting expectations and capital requirements may be applied based on the proposed model and supervisory risk assessment.
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    This portal provides information about the Neves License Framework and enables public verification through the official Public License Register. It does not replace independent professional advice or official determinations.

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