The difference in the OTC Forex market is the organization of trading at free prices without publishing information about the transactions conducted with the possibility of rates within 24 hours a day.
Profit at the auction is created due to exchange differences in the sale and purchase of various currencies. To organize transactions at the expense of attracted funds (traders) a license is required.
You can buy a forex license in the following jurisdictions:
- Cyprus - offers a European permit, issues a body - the Cyprus Securities and Exchange Commission (CySEC), excluding brokerage functions;
- Belize - allows using the tool for conducting offshore business, is provided by the International Financial Services Commission (IFSC), it is possible to conduct both brokerage and trading activities.
The advantages of the Cyprus license:
- registration by a citizen of any country;
- minimum requirements for paperwork;
- online registration;
- a small fee in the form of registration fees and fees in connection with the renewal of the license;
- minimum deposit on the account;
- low commissions for operational goals.
Cyprus license allows you to register accounts in EU banks. The cost of obtaining a license for forex in this jurisdiction is an order of magnitude (35–40%) lower than in other EU countries. The advantages include the absence of currency control and double taxation on the basis of agreements of Cyprus with more than 40 countries. Mandatory fees are not deducted from dividends received from the ownership of securities.
License registration in Cyprus lasts 6–8 months, in Belize - 3–4 months.
Prices for Forex licenses are for Belize - 21,500 euros and Cyprus - 65,000 euros and include:
- registration of a company abroad;
- bank account management;
- advising at all stages of paperwork;
- registration of the sections of the founding agreement “Company Policy” and “Procedures”.
- execution of the petition in the Financial Commission of Belize, Cyprus Multilateral Trading Platform, negotiating until receipt of permission to conduct financial transactions in the Forex market.
Additional charge is the writing of a business fee with the introduction of an individual schedule of conducting activities, state fees and notarization of documents, search and provision of personnel and commercial premises for conducting activities.
Forex licenses are sold with the assistance of our highly qualified specialists. Intermediation is possible when issuing permits for financial transactions in the jurisdictions of Belize and Cyprus. The tool is used to manage futures, debentures, securities.