BROKERAGE LICENSES

BROKERAGE LICENSES

A brokerage license is a document required for doing business in the field of Forex and binary options. It allows you to legally provide exchange trading services and connect popular payment systems.

More often, brokerage licenses are sought in the UK, Hungary, Australia, Belize, Germany, Lithuania, Cyprus, and the Czech Republic. There are also other interesting jurisdictions: Panama, New Zealand, Latvia, and Malta.

Today we will consider the nuances, requirements, and cost of licenses.

Nuances of obtaining a license

Stages of obtaining a license:

• Preparation of necessary documents.
• Opening a broker company to provide forex or binary options trading services.
• Opening bank accounts to transfer money to customers from most countries.
• Assistance in the process of collecting and submitting documents before issuing a permit.
• Fulfillment of tax requirements, insurance, etc.
• Certification of financial activities in the Eurozone countries.

Each regulator that will be considered for a license has its own nuances and requirements.

Requirements for obtaining a license

Basic requirements to be met:

• Authorized capital and its proof.
• The staff of qualified personnel.
• For individuals – a document on the status of bankruptcy is.
• Payment of government fees.
• Entrepreneurial activity in the territory of the country in which the regulator has issued a license.
• List of requirements for a resident or non-resident of the country.

These are general criteria. In fact, the legal system of different jurisdictions is different, and these differences must be taken into account when planning to obtain a brokerage license.

The cost of a brokerage license

On the territory of different countries, there are lists of requirements that an entrepreneur must fulfill in order to obtain a Forex dealer license or open a business in the field of binary options.

The cost varies greatly, from $1,000 to $ 100,000. This difference is due to the different prestige of jurisdictions, the list of areas of activity for which a license will be obtained, and other factors.