The Forex license in Malta is a fairly new option. Registering a company in Malta and obtaining a Maltese forex license is interesting for the reason that Malta is a member of the European Union.
If you want to obtain a Forex Broker licence in Malta then we recommend you to consider the following:
The Malta Financial Services Authority (MFSA) is responsible for licensing, regulating and controlling Forex companies.
According to the legislation of the country, when issuing a license, MFSA has the right to require the licensee to comply with all necessary conditions.
It is worth noting that Malta forms the conditions for issuing a license for the subsequent proper protection of investors and to prevent money laundering.
Category 1a. License holders can accept and transfer orders in relation to one or several instruments, and also provide investment advisory services;
Category 1b. Licensees can deal with organizing transactions (as an agent) or make legal recommendations (exclusively for non-profit private clients).
License holders have the right to provide investment services, as well as accept money or assets of clients for storage. To obtain a 2nd category license in Malta, the share capital of the company must be 125 000 EUR.
The share capital must be contributed to a bank account in Malta before obtaining a license (using these funds is prohibited). A company holding this type of license in Malta must submit financial statements on a quarterly basis and conduct an annual audit.
License holders can personally dispose of the financial assets of their customers and determine their value. To obtain a 3rd category license in Malta, the size of the share capital must be 730 000 EUR.
The share capital must be contributed into a corporate bank account in Malta before obtaining a license (using these funds is prohibited). A company holding this type of license must report on all client transactions (daily), as well as provide financial statements (monthly) and conduct annual audit.
Licensees can act as trustees or custodians of collective investment schemes. A company applying for obtaining a Maltese Forex Broker license must have qualified personnel and registered office in Malta.
For more information, please refer to IQ Decision experts using the contacts listed on the site.