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Obtaining a Forex license, an overview of all jurisdictions in 2020

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Obtaining a Forex license in 2020

Advantages of ordering a brokerage license:

  • A popular business solution;
  • The ability to provide a wide range of financial services around the world;
  • A large selection of promising jurisdictions, such as Vanuatu, Malta, New Zealand;
  • A relatively fast licensing process.
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Many entrepreneurs are looking for foreign markets, potential customers, new partners. What seemed like a distant future - became today's realities. Our company has been engaged for a long time in helping to register an offshore company, to open a bank account for a shell company, to obtain a Forex license. In addition, we can assist in buying a shelf company in any jurisdiction in the shortest possible time.

Legal assistance in obtaining Forex licenses in offshore jurisdictions

Many brokerage companies are trying to choose between licenses for offshore jurisdictions, including: Seychelles, Belize, BVI, Vanuatu. And although the latter is not a classic offshore, often those, who want to conduct international business, want to obtain a Forex license in Vanuatu.

In addition, you can register a company in the Cayman Islands, the activity on which requires a license, including a brokerage activity. Obtaining a brokerage license on the Isle of Man is, also, one of the interesting opportunities. When choosing a country, every entrepreneur is interested in the financial side and terms of registration.

Obtaining an offshore Forex license. Dates:

Oddly enough, but all jurisdictions, that we compare, consider the application for a Forex license - identically (from three to five months).

Price range for professional services:
  • Seychelles - $12,000 to $18,000;
  • Belize - $12,500 to $20,000;
  • BVI - $12,000 to $19,000;
  • Vanuatu - from $10,000.
A share capital
  • BVI - $1,000,000;
  • Belize - $500,000;
  • Seychelles - $50,000 - $100,000;
  • Vanuatu - $48,000.

To register a company in Vanuatu and to obtain a Forex license in Vanuatu, the lowest costs are required.

Previously, offshore jurisdictions were prioritized by BVI, but the amount of share capital, requested by the regulator to date for issuing a license, is fabulous.

Jurisdictions, in which you can issue a Forex license: Malta, Cyprus and New Zealand. Dates

Regulators of all countries give an answer in three to six months from the date of submission of a full package of documents. Terms will increase, if you have requested an additional documentation. Terms for obtaining a license in Vanuatu from 2 months from the date of the submission of the entire package of documents.

Price range for legal services:
  • Cyprus - 32,500 to 60,000 euros (excluding license activation);
  • Malta - 35,000 to 60,000 euros;
  • New Zealand - 19,500 to 38,500 euros.
A share capital:
  • Malta - 125,000 euros - 730,000 euros (depending on category);
  • Cyprus - 125,000 euros - 1,000,000 euros (depending on category);
  • New Zealand - approximately $770,000.
Obtaining a Forex license: Vanuatu or Cyprus?

By the way, the Cyprus Securities Commission issues licenses to beneficiaries from Russia and Ukraine; quickly responds to customer complaints, that they have suffered losses from illegal actions of brokers; immediately answers all inquiries.

Having decided to obtain a Forex license in Cyprus or in two other jurisdictions, you will be able to use the authorized capital immediately after issuing the license, but it is necessary to show in the financial statements, where this amount is (for example, if you lent it).

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As you can see, if you compare offshore jurisdictions, then getting a Forex license in Vanuatu is beneficial. If you are targeting Europe, then obtaining a brokerage license in Cyprus is the most profitable option today.

To obtain a broker license in the EU countries

There is, also, an option to issue a Forex license in the Czech Republic, in Latvia, in Estonia or in Bulgaria. These countries are members of the European Union and their legislative systems are very similar, as they comply with EU standards. Specifically, activities of companies, licensed for Forex, are regulated by the law MIFID Directive 2004-39 EC on markets in financial instruments.

In order to obtain a brokerage license in Bulgaria, Latvia, the Czech Republic or Estonia it is necessary:
  • A company registration;
  • The presence of a business plan and financial plan;
  • A company employees must have an impeccable reputation, an appropriate education, a work experience;
  • Lack of criminal record;
  • An authorized capital.

An authorized capital, in order to obtain a Forex license in the Czech Republic, Estonia, Latvia or Bulgaria, is from 125,000 to 730,000, depending on the category of license (check with our specialists).

There are two types of licenses for Forex brokerage:
  • a brokerage license - STP;
  • a full license - Market Maker.
The first type of license is cheaper and makes it possible to hold funds and trading securities, as well as provide services such as:
  • a securities management;
  • to make an order/transfer of the order in relation to the 1st and more financial tools;
  • to perform intermediary services (to conclude transactions in relation to financial instruments);
  • to provide investment advice to clients;
  • to fulfill orders on behalf of customers.

The second type of license makes it possible to make decisions and conduct trading activities on your own.

Obtaining a brokerage license in euro jurisdictions, such as Bulgaria, Latvia, the Czech Republic or Estonia, is almost the same. In addition, the broker can cooperate with clients of both the country, in which he is registered and with clients of other jurisdictions after completing the certification of the license.

To take into account all nuances and get a license for Forex in Europe, use services of our professionals. We will take into account all subtleties of the legislation of the European Union, which regulate this type of activity.

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Obtaining a brokerage license in Hong Kong

You can issue a Forex license in Hong Kong after registering a company with the types of forex brokerage in Hong Kong. The procedure for applying a license in Hong Kong is extremely complex and lengthy. To get a positive response and apply for a Forex license in Hong Kong, you must contact our company. Our experts will prepare necessary documents as quickly as possible, and also explain to you nuances of brokerage in Hong Kong.

A share capital in order to issue a brokerage license in Hong Kong at least HKD 3,000,000 (approximately $382,355,66). The regulator will consider the reliability and competence of the applicant and staff.

Is it better to obtain a Forex license in Europe or in Asia?

This area of ​​modern business is supported in jurisdictions around the world. But, as you can see, each jurisdiction has its own set of conditions, according to which you can get a Forex license in Europe, Asia, etc. It is necessary to know all advantages of each country, and, also, take into account the budget, timing and goals. When preparing a business plan, you must understand benefits of a country. Our experts monitor the situation around the world and help you to deal with difficulties.

For beginner forex brokers,offer help in obtaining a forex license in Vanuatu. If you are faced with the fact, that the so-called “agencies” offer you to buy non-existent Forex licenses in such states as Saint Vincent, Dominica or Saint Kitts and Nevis - be aware, that these are scammers. In these countries, forex activity is not yet regulated, so if you decide to start brokerage in one of these countries, you will have very limited opportunities to open an account for your company.

Experienced employees of IQD Consulting will give you answers to all questions, provide accompanying services at every stage in registering a company in Vanuatu or in any other jurisdiction, that you consider appropriate to choose.

Interested in getting expert advice?

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