First of all I would like to thank all the forum members for the helpful and resourceful information that has been posted.
I am EU citizen and I have recently registered a company in Estonia which will be used for trading forex and cryptos. The use of the bank account will be to send money from / to exchanges. The deposited amount will be between 50k-100k. For the bank account, I have contacted more than 30 banks and EMIs but the replies have been mostly negative due to the high risk of cryptocurrencies. I am sharing below a summary of the replies I received so far (I tried to contact the crypto friendly banks and EMIs):
EMIS
My choices at the moment are:
Do you have any ideas how I could send the money to Dukascopy or Swissquote?
Also, does anyone have experience with Orounda or Intergiro?
Any other ideas with lower fees?
Thanks a lot for the help!
I am EU citizen and I have recently registered a company in Estonia which will be used for trading forex and cryptos. The use of the bank account will be to send money from / to exchanges. The deposited amount will be between 50k-100k. For the bank account, I have contacted more than 30 banks and EMIs but the replies have been mostly negative due to the high risk of cryptocurrencies. I am sharing below a summary of the replies I received so far (I tried to contact the crypto friendly banks and EMIs):
EMIS
- Bilderlings: 2.000 euro fee for account opening and 200 euro per month
- Mistertango: 800 euro for account opening and 100 euro per month
- Paytah: 500 euro for account opening and 150 euro per month
- Orounda: 200 euro for account opening and 100 euro per month (if I understood correctly as their pricing was confusing)
- Intergiro: 220 euro for account opening and 25 euro per month. Fee of 1% for incoming transactions
- Wirex: They replied that they are currently making updates and they should soon take over a new wave of clients
- Cashaa: new token with 5 million market cap. They also charge 100 euro per month. Not trustworthy as it is still at experimental stage
- Trustpay.eu: They replied they do not support the industry
- Banqia: does not seem trustworthy
- Banknovo: They replied they do not support the industry
- Solaris: they replied they do not support this business type
- Bitwala: only individual accounts
- Monaize: must be a French resident
- Fidor: no reply
- Santander: no reply
- Hypothekarbank: only for businesses registered in Switzerland
- VPEAG: minimum funding is 200k
- ING Luxembourg: no reply
- Ally bank: only for individuals
- Moneta International: they replied they do not support this business type
- Blueorangebank: no reply
- Bunq: they do not support Estonian business
- Bank Frick: positive reply but they require a minimum of 500k
- Dukascopy / Swissquote: they offer a trading account with a dedicated IBAN but the money needs to come from a bank account in the company’s name. That means that I still need to get a company business bank account…
My choices at the moment are:
- Pay the high fee for a more established EMI (Bilderlings or Mistertango)
- Take the risk and try a newer EMI (Orounda or Intergiro) which offers lower fees
- Go for a broker-bank (Dukascopy or Swissquote) and try to find a bank solution (such as Transferwise) to transfer the money to them
Do you have any ideas how I could send the money to Dukascopy or Swissquote?
Also, does anyone have experience with Orounda or Intergiro?
Any other ideas with lower fees?
Thanks a lot for the help!
Actually, i'm trying with Cashaa. My documents are under processing, hope will be the good one.
