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Where it is better to get a Forex license in 2021

2021-01-06
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An important issue for any trader is getting a Forex 2021 broker's license. For those who are planning to work in Forex in 2021 and open brokerage companies, it is required to choose a suitable country with favorable licensing conditions. Contact our experts at IT-OFFSHORE to clarify the nuances of licensing in different countries.

Top countries for licensing

When choosing where to apply for a license, it is important to consider the region where you are going to conduct business and the time frame during which the company must be registered. Beforehand it is worth choosing a bank and determine the capital required to start a business.

USA

To start working in the U.S. Forex market, you will be required to obtain a Forex license in the USA in 2021. Prior to its issuance, the regulator checks the company's capital sources and personal information on the owners; it is also required to pass the examinations for key employees. Transparent reporting is mandatory.

Brokers are required to file all reports in a timely manner, and the regulator can audit the company at any time. Such control contributes to quick reaction in case of violation of users' rights.

UK

Although there are fewer requirements for obtaining a Forex license in the UK in 2021, the FCA authorization is among the most reputable ones. In order to obtain it, you need to register an LTD-type company beforehand. Forex activity belongs to the betting industry, therefore, the requirements for organizations are quite serious. High conditions are also set for the staff of the company, as they need to confirm they professional qualifications.

Cyprus

The registration of the Forex license in Cyprus in 2021 is relevant when planning to expand one's activities in the European Union. The document obtained in this jurisdiction gives the opportunity to sell and accept deposits from clients and establish one's presence in the EU member-states.

Malta

This country is a member of the European Union and obtaining a Forex license in Malta in 2021 allows you to enter the European market. The country has an open economy, attractive taxation and positive reputation. The country is stable politically and economically.

A brokerage organization must have an office in the territory and hire qualified employees, as well as periodically submit financial reports.

Belize

Applying for Forex license in Belize in 2021 is relevant. The process of obtaining a minimal tax burden in the territory is quite simple. There are requirements for directors - they must have sufficient experience and knowledge to conduct such activities. It is required to have an office and hire employees.

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