Forex Business - Ask Me Anything

CALL US ON +971 50 4467827 - TO SETUP YOUR NON-CRS COMPANY STRUCTURE IN DUBAI.
Bank Accounts, Company Formations, Tax Planning, Residency Solutions, and more

jryan54

New member
Hey Folks,

I've recently gotten some useful information from the forum, and it's helped me a bunch, so i'm looking to give a little back as far as actionable information.

So in my current day job, i'm a relatively well known economist and Head of Research for a mid-tier foreign exchange broker. I've seen plenty of shady behavior and unethical actions right across the spectrum from retail traders to wholesale liquidity services. I've largely seen the trade flow from `inside' and know most of the tricks that brokers use to screw you out of your account balance if you are not STP ( and even sometimes then!).

I am also very well aware of what goes on as far as Introducing Brokers and the broader business of making money at FX and dealing with licensing issues around the world.

So feel free to ask me anything and if i'm able/willing I will provide you the inside scoop.

Admin, please feel free to message me if you would like to verify me.

Couple of ground rules:

1. Please no PM's because i'm not selling anything
2. I will not name the company I work with...read above.
3. I will not do any consulting/provide any financial or investment advice.
4. I cannot and will not recommend any FX brokers.
 

jryan54

New member
How do I make lots of money?? :D

Don't trade Forex :)

lol.

In all honesty though...the industry is quite saturated now so it's really only the people that are selling picks and shovels to the brokers that are doing well. Otherwise, you must have a really unique USP because everyone can offer seamless execution these days.

Cheers
 

jryan54

New member
@jryan54 What is the best place to create a offshore company to work with MAM accounts without any financial license?

At the moment, the Seychelles has no license requirements for companies that do not trade FX locally. However, your biggest hurdle with this will be getting a bank account opened IF you are going to accept client funds directly.

If you are operating a simple MAM account with a broker who is accepting client deposits on your behalf then it is very easy.

So it really depends on your business model. Seychelles would be excellent for you...but the question would be which bank will you approach if you are accepting third part deposits.

Might need more info to help you out!.
 

Richie

New member
Hello and thank you for reply.

I'm not accepting direct third parties funds, I only do trade in my account and orders are copy to subaccounts.

I haven't access to these accounts or the deposits are stored on It. Regulated broker manage these deposits.

If you are operating a simple MAM account with a broker who is accepting client deposits on your behalf then it is very easy.

This is.
 

Arslan

New member
Hello,

I'm a Freelancer (from Pakistan) & my client (company) needs an invoice from a safe country.
I'm currently using upwork, they charge (13% of the total transaction which is way to high) + lose money in converting to my currency as well.

I'm wondering what the best solution to invoice my client (from a European country) to get paid outside Upwork?

- Any Alternative to upwork which charge less than 13%? (Freelancer, Fiver they charge the same)
- Opening a Deleware / UK llp Company?

Or any other suggestion?
(Sorry if it's not the right forum for this kind of post)
 

goldies

New member
Which forex broker will accept you as a corporate client with a seychelles company and you managing sub accounts ??? The forex broker has a bank account and he also has to comply with all the KYC. I sinceraly doubt that a forex broker will accept a seychelles company acting on behalf of third parties. And if they do then the bank will shut them down because every client of the forex broker is subject to KYC.
 

jryan54

New member
Which forex broker will accept you as a corporate client with a seychelles company and you managing sub accounts ??? The forex broker has a bank account and he also has to comply with all the KYC. I sinceraly doubt that a forex broker will accept a seychelles company acting on behalf of third parties. And if they do then the bank will shut them down because every client of the forex broker is subject to KYC.

I think you might want to do a bit more reading to understand how the FX industry actually works. Most of the major retail bucketshops built their businesses around unregulated, unlicensed, entities. Even with all of the present KYC requirements....there are still banks around that will deal with Seychelles entities.

Please do a bit of research before attempting to thread **** here.
 

rainman101

New member
200% agree eith OP
Forex is a dirty business. Retail does not make profits. I said this since 1998. They will not listen.
What if i set up an offshore fx bizz. Just trnd follow taking tiny ridks. Might even make a few % profits..
To manage dirty money?
What do you think?
 

lostguy

Mentor Group Gold
IF OP comes back I have lot's of questions... where shall I start?
 
Top