Setting up a Forex company is slightly more complicated than most people think. The market is huge and because money is exchanging hands on a regular basis, the rules and regulations set by authorities are extremely tight. Of course, this means that you’ll need more than a small investment to get your business off the ground, but once you have done so, you stand to gain a lot!
The first thing that needs to happen after you have registered you company is apply for a Forex Trading company license. It isn’t a case of filling out a simple form and submitting it to the CYSEC though. Oh no! In fact the CYSEC require a payment of EUR 2,000 before they will even look at your application. It doesn’t stop just there though. The cost extends a further EUR 5,000 up to EUR 10,000 depending on what fees you incur. What does this mean? You could be paying anywhere up to EUR 51,000 for a Forex Trading company license.
This definitely breaks most people’s bank, but that is the idea. This means the only people that run Forex Trading companies are those that are 100% serious. It keeps all the wannabes out of the market, meaning you’ll have a much bigger market share. This is where it gets interesting. There is plenty of room in the market for new companies, which is obviously great for the likes of YOU!
What you need to do is budget. There is no point applying for a Forex Trading company license if you don’t have the cash to back your business and make it a huge success. You’ll need money for staff, promotion and even website development. If you are looking to become a broker then you’ll need to devise to professional constructed software. Of course, on top of this you’ll need a support team that can handle any enquiries, as the chances are that you don’t have the first clue about the software.
The next thing you need to assess is the amount of share capital that you will need. The amount of share capital does depend on the type of Forex Trading Company that you are looking to be. The most basic is one that just offers advice and order transmissions. If this is something that sounds appealing to you then the upfront share capital required will be just EUR 80,000. If you want to do anything else then you may be required to have a share capital of EUR 200,000. It doesn’t stop there though; if you want a full blown Forex Trading Company then you’ll need to have a share capital of EUR 1,000,000!
Setting up a Forex Trading Company is extremely complicated. Luckily there are a range of company formation specialists that are on hand to help you. Instead of going through the pain and frustration of trying to set the business yourself, it is advisable to let the professionals take care of it. After all, if you are investing this much money, you’ll need to ensure everything is above board!
The first thing that needs to happen after you have registered you company is apply for a Forex Trading company license. It isn’t a case of filling out a simple form and submitting it to the CYSEC though. Oh no! In fact the CYSEC require a payment of EUR 2,000 before they will even look at your application. It doesn’t stop just there though. The cost extends a further EUR 5,000 up to EUR 10,000 depending on what fees you incur. What does this mean? You could be paying anywhere up to EUR 51,000 for a Forex Trading company license.
This definitely breaks most people’s bank, but that is the idea. This means the only people that run Forex Trading companies are those that are 100% serious. It keeps all the wannabes out of the market, meaning you’ll have a much bigger market share. This is where it gets interesting. There is plenty of room in the market for new companies, which is obviously great for the likes of YOU!
What you need to do is budget. There is no point applying for a Forex Trading company license if you don’t have the cash to back your business and make it a huge success. You’ll need money for staff, promotion and even website development. If you are looking to become a broker then you’ll need to devise to professional constructed software. Of course, on top of this you’ll need a support team that can handle any enquiries, as the chances are that you don’t have the first clue about the software.
The next thing you need to assess is the amount of share capital that you will need. The amount of share capital does depend on the type of Forex Trading Company that you are looking to be. The most basic is one that just offers advice and order transmissions. If this is something that sounds appealing to you then the upfront share capital required will be just EUR 80,000. If you want to do anything else then you may be required to have a share capital of EUR 200,000. It doesn’t stop there though; if you want a full blown Forex Trading Company then you’ll need to have a share capital of EUR 1,000,000!
Setting up a Forex Trading Company is extremely complicated. Luckily there are a range of company formation specialists that are on hand to help you. Instead of going through the pain and frustration of trying to set the business yourself, it is advisable to let the professionals take care of it. After all, if you are investing this much money, you’ll need to ensure everything is above board!
