The forex market today is worth trillions of dollars, and forex brokers are very popular there, but without a forex license a brokerage company has no legal right to process traders’ transactions.
The activity of brokerage companies which do not have a forex license is considered to be illegal and unsafe, and traders avoid such companies.
Each jurisdiction has a regulator, which controls the transactions in this market and licenses the brokers. A brokerage company can raise a lot of questions from these authorities. In any case, if a forex broker does not want to have problems with the regulators or wants to get new clients, it is necessary to get a forex license.
Jurisdictions to pay attention to:
The first issue for a forex broker is choosing the jurisdiction in which a novice forex broker can set up business and obtain a brokerage license at the best price and in the shortest period of time.
Considering such factors as the price, the term of obtaining a forex license and the reputation of the jurisdiction, all the countries are divided into several categories.
Jurisdictions C and D are the most popular among the forex brokers due to the fast and cheap procedure of obtaining forex licenses.
The best choice for a forex broker who starts its activities in this market is Vanuatu. The process of obtaining a Forex license takes only 2-3 months from the moment all the necessary documents are received. The minimum registered capital is 50 thousand USD.
How to get a Forex License?
We have made a short checklist for obtaining a Forex license in any jurisdiction:
Obtaining a Forex license: additional requirements
Additional costs include:
A forex license in Vanuatu is the best option for a novice forex broker in 2020.
Malta is one of the largest and most interesting countries for entrepreneurs if they want…
The process of applying for the removal of personal information from Companies House involves several…
In Estonia, Games of skill are defined as games whose outcome depends mainly on the…
Introduction Tobique is an Indian reservation in Canada, in the province of New Brunswick (similar…
In the run up to 31 March 2024, we have prepared this notice to our…
General Information Antigua and Barbuda is a bi-island nation located between the Caribbean Sea and…