Bank account for forex trading company and crypto

[erni]

did you realize that you own non exist fancy paper? Comoros has no offshore centre. Its just clumsy fake

what you say is his setup is worthless and can't be used for anything serious ?

 

[SCHLOSSFINANZ]

his setup is based on a fake licence, of course its worthless and at worst brings you into legal trouble

 

[Davis123]

his setup is based on a fake licence, of course its worthless and at worst brings you into legal trouble

Any advice to setup an LLC and a bank account to trade forex in my personal broker.? I am having a dilemma here how to get a reputable jurisdiction and reputable bank to trade forex from.?

 

[ata01]

what do you advise in that case? for forex company license what we should do?

 

[SCHLOSSFINANZ]

Mauritius or Seychelles or Vanuatu

 

[plotoffshore]

Hi @moscote , I just DM you, please review and let me know, thank you.

what are you able to offer?

 

[Davis123]

Mauritius or Seychelles or Vanuatu

Mauritius or Seychelles or Vanuatu

But Mauritius banks require Mauritius companies and they don't like forex trading in general.

 

[SCHLOSSFINANZ]

I mean Mauritius or Seychelles as a place of licencing not banking!

 

[Davis123]

I mean Mauritius or Seychelles as a place of licencing not banking!

Well banks usually don't like any offshore companies currently.

 

[SCHLOSSFINANZ]

its different for REGULATED companies from these jurisdictions

 

[Davis123]

its different for REGULATED companies from these jurisdictions

With a Seychelles company it's hard to land a reputable bank these days. Then good banks offering to deal with a forex broker account is next to impossible

 

[SCHLOSSFINANZ]

you don't seem to have experience. If you are a regulated FX-broker with a Seychelles licence and substance in Seychelles plus audited accounts I know quite some banks that are happy to onbard such structures. You are talking about Offhore companies and yes for Seychelles IBC its next to impossible to find a bank.

 

[Davis123]

you don't seem to have experience. If you are a regulated FX-broker with a Seychelles licence and substance in Seychelles plus audited accounts I know quite some banks that are happy to onbard such structures. You are talking about Offhore companies and yes for Seychelles IBC its next to impossible to find a bank.

FYI I am not a broker. I never stated I am a broker. Many traders open up LLC or C corp and trade fx or stocks with a broker on them. This is for tax planning. Unfortunately reputable banks don't like forex trading. They term it as gambling but trade fx themselves.

 

[SCHLOSSFINANZ]

its really pointless to discuss with you. Just read my post properly!

 

[tomboy]

Hello guys,
I am interested into getting a bank account for doing a forex IB broker company, it is not outside the law, I need reliabe EU bank account and relyible exchange.
For example a client is depositing eur into the bank account and then we need to make the withdraw to him.
How to do that, any idea how to setup a EU account preferably in western Europe or to use an exchange for this?
Thanks!

First off, let's get clear on what your "IB broker company" actually does. Are you just gonna be sending clients to a main forex broker and collecting a fee for it? Or are you planning on actually handling their money, like taking deposits or making withdrawals for them, or even trading on their behalf?
If you're just introducing folks and the main broker handles all the money and trading, then your banking needs are gonna be way simpler.
But if you're gonna touch client money at all, even for a hot second, you're gonna need a serious financial license (think big-time regulatory stuff) and a special bank account just for client funds. That's a whole different ballgame, way more complicated and regulated.

 

[Nicholas Van Orton]

what are you able to offer?

Hi @plotoffshore just saw your question. I was offering them what they asked for (solution), since this is my bread and butter. Unfortunately, the guys were not that serious in their demands, so they just disappeared.

NVO

 

[Nicholas Van Orton]

First off, let's get clear on what your "IB broker company" actually does. Are you just gonna be sending clients to a main forex broker and collecting a fee for it? Or are you planning on actually handling their money, like taking deposits or making withdrawals for them, or even trading on their behalf?
If you're just introducing folks and the main broker handles all the money and trading, then your banking needs are gonna be way simpler.
But if you're gonna touch client money at all, even for a hot second, you're gonna need a serious financial license (think big-time regulatory stuff) and a special bank account just for client funds. That's a whole different ballgame, way more complicated and regulated.

An IB or even a full-fledged broker (Cyprus CIF, for example), by definition, can't handle client money (they can keep tabs of the clients deposits/withdrawals through their own ledger in their depository bank/EMI for the sake of reconciling clients' P&L). Unless of course they engage in asset management, in which case they could hold it captive for the sole purpose of executing or routing orders into the clients' accounts. But even that is a stretch too far.

NVO