Need to know how to setup a Cyprus company for Forex Trading?

[foralo]

How can I setup a company in Cyprus and use it for forex trading, is there anything I need to be aware of and is it more expansive then setting up a regular company in Cyprus?

 

[SysOp]

Well, you will need to know that is isn't going to be easy.


You should get a license from Cyprus Stock Exchange Committee ( CYSEC) for offering financial services if you are offering one of the following services:


(a) Reception and transmission of orders


(b) Execution of orders


© Portfolio management


(d) Provision of investment advice


The capital required for one or more of the above services is EURO 200.000


If the company is offering service (a) and/or (d) above and does not keep clients’ monies, then Capital can be reduced to EURO 80.000


The capital required for one or more of the following services is EURO 1.000.000


(a) Dealing on own account


(b) Underwritting


© Placing of financial instruments without a firm commitment basis


(d) Operation of Multilateral Trading Facilities

 

[SysOp]

Also for more information on costs and requirements to register a Forex Trading Company you can check this link : How to Register a Forex Trading Company in Cyprus

 

[foralo]

Thank you very much SysOp .. it was simply too expensive for me I have a NZ entity today which works perfectly fine for me.

 

[Sany zeth]

i would rather prefer to open a forex trading account as personal and not with company affiliated

 

[Anton]

i would rather prefer to open a forex trading account as personal and not with company affiliated

I agree, you might cut down extra fees by doing this. Anyway they have their own pros and cons. So the OP still have the decision to make.