In what country is better to open a forex broker
There are several best countries for opening a forex broker and obtaining a license. Trading in the financial market is possible only through a broker. These companies provide an opportunity for an individual to enter the financial market. In order to clarify the details of such company registration, reach out to our specialists at IT-OFFSHORE.
The concept of forex broker and nuances of functioning
Opening of Forex broker implies the registration of the company, which is engaged in providing an individual with access to the financial market. Brokers are called intermediaries between the exchange and the trader. Their functioning is important for trading.
The main duty of forex broker is to expose the client's orders to the exchange in a timely manner and provide a trading schedule. In addition, the broker can offer advice and support if needed.
The income levels of forex brokers differs depending on the turnover of their clients. The more service users trade, the higher is the profit. In this connection, the broker is interested in users’ active trading. In order to be engaged in such activity, it is necessary to obtain a license.
Top 5 countries for the brokerage activity
If you need to create a forex company, it is recommended to read the list of the best countries to get a license and develop entrepreneurship in this direction.
If you’re considering a company in Asia, you should pay attention to this territory. To get a forex license in Labuan, a number of conditions need to be met. An office in the territory and two or more directors with experience in the field of finance will be required. Experience must be documented.
Requires at least one employee with resident status, the capital must be at least 237,000 euros. Every year a financial audit should be carried out. On average, the time of registration is about 12-16 weeks.
It is profitable to open a firm in the British Virgin Islands. To set up a business with a license, you need an office, you will need to manage the company from the territory. You need at least two directors and a minimum capital of 250 thousand euros.
Doing business must be clear and transparent. Get the documents with a work permit can be obtained on average in 12 weeks.
Opening a company in the territory allows you to enter the EU markets. To obtain a license will require a registered office with the hiring of qualified employees. At least one director is needed.
The smallest amount of capital must be from 730 thousand euros. Regular filing of financial statements, organization of audit is a mandatory condition. The time of getting a permit can take more than six months.
Office and at least three directors, having the status of residents and previously functioning in the field of finance, are required. The minimum turnover should not be less than 750 thousand euros.
Regular financial reports must be filed and traders and their funds must be protected. To obtain a Forex license in Cyprus, you should consider a time frame of six months.
Setting up a forex firm in Japan gives you the opportunity to do business in Asia's largest markets. At least one director with resident status and experience in the field is required to establish a company. It is necessary to have an office and hire qualified employees. The company must be able to work with the citizens of the country.