Hello Guys,
I am looking to become Forex broker. Can you help me to know which country i should I open company.
Which country has less regulation and good for Forex broker ?
Hello Guys,
I am looking to become Forex broker. Can you help me to know which country i should I open company.
Which country has less regulation and good for Forex broker ?
I don’t really have an answer as to which countries are best to open a brokerage, but I will offer that less regulation does not mean good for a Forex broker (unless the broker plans to be dishonest and scammy…)
It really depends on how much money you have at your disposal, what type of broker you want to open and what your general plans are. If funding is not a problem, I would go for one of the European countries e.g. Cyprus. The are plenty of law firms there who can walk you will help you apply for a license with their regulatory authority and eventually get the license.
On the other end of the spectrum are off-shore jurisdictions, like BVI, Mauritius, Dominican Republic, etc. Establishing a brokerage firm in one of these jurisdictions is pretty straight-forward and relatively cheap too. However, you will always have problems with banks and payment processors.
The bottom line is, you need to do a proper an in-depth analysis of the jurisdiction before you decide to go ahead and set up a brokerage. Don’t be cheap, contact one of the law firms.
Your advice is only about 4 years too late to be helpful!
oh noo. :=) well, as the old saying goes “better late than never.” LOL, I’m new here and still struggling with the navigation and other features.
Not really. It was posted Nov 13, 2017, just 1 month late.
there is one provider which one of my friend suggested me, “fxwhitelabel.net” they provide offshore company formation in many countries around the world. they also provide MT4/MT5 white label solutions for forex brokerage. worth a try.