Have you decided to launch and license a Forex business? We’ll help you select the perfect country to get it. Next, we list the top 5 countries and the normative rules for getting a license there in 2024. Forming this list, we were guided by the timing, expenses, and complexity of obtaining permits and the level of the image of the particular space itself.
Our specialists also possess extensive experience in licensing brokerage companies in hundreds of countries, in particular, in a broker in Estonia and others. We are focused on the best result for our clients, being a reliable ally and a strong support service for entrepreneurs who want to start their businesses as soon as possible and correctly.
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Great Britain
Source: forbes.com
Great Britain takes the honorable first place on our list. Now it’s an extremely popular space where broker draws up a Forex license. Financial Commission is in charge of regulating brokerage deals in this territory. Conditions for getting a permit for FX trading provided by the regulator are:
- having two directors with residence;
- members of the Directors’ Board need to possess appropriate expertise in financial management;
- initial capital 125,000+ euros.
Getting a licensed permit takes less than six months.
Australia
It’s next on our list. Privileges of getting a license here are next-mentioned:
- no hedging ban;
- no restrictions for investments from other sources.
- The conditions provided by the local regulator will be:
- the term for getting a permit is from 6 to 12 months;
- presence of at least 2 local directors;
- the initial capital of more than 635,000 euros.
Cyprus
Source: forbes.com
Cyprus takes an honorable third place on our list for FX traders only because it is a bit more difficult to obtain a license agreement on this island, but companies such as FINAM, UWC, Admiral Markets, FOREXYARD, and others still preferred this particular republic to get their permit. Normative points for getting permission for FX trading in this offshore:
- 3 local directors;
- the presence of an office in these territories;
- minimum capital over 725,000 euros;
- the presence on the Board of Directors of at least two citizens of the country;
- active banking account.
The Securities Commission provides permits in about a 6-month period.
Malta
It’s next on our list for FX traders. Such a permit will give you a great opportunity to run your business activities throughout the European Union. The directors of your company will not necessarily have local citizenship, but the office premises in these territories must still belong to your company. Also, your directors need to possess expertise in the Forex market. Capital for getting a permit in these territories is 730,000 euros, and the period for obtaining it fluctuates in several months, depending on how accurately and competently you filled out mandatory documentation, and whether your business structure meets normative rules applicable to Malta.
Vanuatu
The state of Vanuatu completes our top list. This republic is convenient for its loyal attitude towards non-residents and their businesses and also has a favorable tax environment. The minimum amount to enter the FX market in this territory is $50,000. The main advantage of getting a permit in Vanuatu is the exemption from any taxes for 20 years from the date of registration. It would be foolish not to take advantage of this opportunity to save money, but in order for your company to get an exemption from duty, you need to possess a legal address in Vanuatu and appoint at least one local director. It is all of the above data making this country an extremely popular offshore zone.
We have provided you with a list of effective countries for Forex-brokerage licensing. Please note that obtaining such a permit is a complex procedure not only consisting of submitting an application but passing registration for the organization and opening a bank account. Turn to our specialists and they’ll assist you in launching a brokerage business structure in the shortest possible time, while fully accompanying you and giving comprehensive services.
