How to start obtaining a Forex license?

If you plan to engage in Forex activities, you need to obtain a Forex license. Since it not only gives access to a number of business opportunities on the Forex market, but also increases the trust in your business on the part of the relevant regulatory authorities. Despite the significant financial and time costs of obtaining such a license, it will only benefit your operational and financial activities.

The Prikhodko & partners legal company provides high-quality and professional support in Forex regulation and licensing, as well as legal support services for the activities of such legal entities in the most popular jurisdictions of the world.

And so, to begin with, you need to decide on the country in which you will receive a Forex license. I would like to draw your attention to the fact that the place of registration of your company and the country in which it is planned to obtain a license do not necessarily have to coincide, but in different regions the conditions of licensing may differ, as well as the price for them. Choosing a jurisdiction for obtaining a license must be approached with full responsibility and with the consulting support of specialists, as this will fully affect the status of your company and will have a direct impact on the development of your business in the future.

Before starting the procedure for obtaining a Forex license, you must decide on the following:

• finances, how much you are willing to spend on such a procedure;
• the time for which you are willing to wait for the permit documentation;
• the jurisdiction in which you will conduct the procedure for obtaining a Forex license, taking into account your opportunities listed in the first two points;
• banks in which corporate accounts for conducting such activities will be opened.

After answering these questions, a concrete understanding appears regarding the choice of the regulator and the wide range of possible jurisdictions is narrowed.

The Prikhodko & partners law firm also provides consulting services regarding the selection of appropriate regulators individually at the request of each client, which makes the choice of jurisdiction many times easier.

After you have chosen the best jurisdiction for obtaining a Forex license, you need to start the procedure of preparing the necessary documents for their submission to the registrar. Usually, such registration is carried out by the Central Bank or the Office of Financial Services of the country.

Regardless of the country in which the Forex licensing procedure will be carried out, the regulator sets practically the same conditions, such as:

• active, registered company of the country;
• providing up-to-date documentation regarding the parent (related) company, which is not located in the regulatory country;
• All necessary state fees and duties have been paid;
• development of a business plan;
• opening a corporate bank account.

Some of the most popular and prestigious regulators are Switzerland, Canada, USA, Malta, Great Britain and Cyprus. In many of the listed and not only global jurisdictions, our company is a direct registrar with a huge partner network around the world, which will allow you to go through the licensing procedure with a team of specialists in the highest quality and as quickly as possible.