Where to open an account for a forex broker

Obtaining an offshore forex broker license is relevant because the availability of a special permit allows increasing traders' confidence, confirming the quality of the company is established. Clients most often cooperate with a reliable broker with a positive reputation. An important point is opening an account for a forex broker. To choose a suitable country and bank contact our specialists at IT-OFFSHORE.

Peculiarities of obtaining a license

To carry out forex operations abroad, it is necessary to obtain a special license. This will allow your business to operate legally.

What must be considered when opening such a company:

• The state where the financial operations will be performed;
• The speed of setting up a business;
• The extent of anonymity;
• The possibility of choosing an appropriate bank.

To open a bank account for a forex broker, it is required to gather a package of documentation. Most financial institutions increase control, accountability, and automatic exchange of tax information. Credit organizations are scrutinizing their clients, and a lot of requirements are made for them.

Mauritius

It is possible to set up a corporate brokerage account with a dedicated bank or a modern financial company that has the necessary permits. Mauritius is a suitable country for companies that earn from brokerage services. It has a positive investment climate and tax benefits.

Pros of opening:

• Connections with investment institutions in other countries are established;
• There is 24-hour access to funds;
• Offers a wide range of trading platforms;
• Support in several languages;
• There is access to a large number of financial instruments;
• Confidentiality is ensured.

Since the jurisdiction belongs to the white list, transparency of financial transactions is required. Clients are required to be identified and prove compliance with anti-money laundering standards. It's more reasonable to open a deposit in the territory for clients, whose work is connected with trading and securities.

Australia

You can open a corporate brokerage account in Australia. A high-quality technical basis for trading is offered.

The main advantages:

• Deposits in different currencies are accepted;
• It is possible to create a deposit for forex, cryptocurrency business;
• Funds of clients and the company are kept in accordance with the law;
• Audits are conducted by independent organizations;
• Information about clients is not disclosed.

To create an account, you need to go through the identity verification procedure, specify the nature of the activity, as well as show income and set investment goals. To open a corporate brokerage account, you will be required to provide copies of your passport, residency address and company information.

Canada

The largest bank in Canada where you can open an account is the Royal Bank of Canada. This financial institution is one of the largest in the world that offers asset management services and corporate banking.

The main advantages:

• The bank is the largest trust platform;
• There is access to all brokerage services;
• One can open a multi-currency deposit, time deposit;
• Individual credit solutions are offered.

To open a corporate account, you need to comply with the bank's requirements, such as the conditions regarding turnover.