Offshore Bank Account for Forex Trading

JohnDoe123

New Member
Hi, I am new to the forum and just need some information.

I am moving a lot and want to open a bank account in USD, primarily for forex trading.
Most brokers should accept the country where this bank account is based and of course I don't want to pay an arm and a leg for fees.

I will probably not withdraw any profits (hopefully there is :) for a couple of years.
For tax purposes, would it then be better to open an IBC and only declare additional income once I withdraw?
I don't know which country I would be in a couple of years.

And of course which provider and package(s) should I use for this?

Thanks in advance for any advise.
 

EUR99

Member
Are you meaning a bank account for your forex trading business ?

So you want to receive in C2B wires

If so in what jurisdiction do you hold a licence ?
 

JohnDoe123

New Member
No I don't hold any licenses to trade, this would primarily be for an account where I can open forex account at any broker and then fund and or withdraw to the bank account.
Forex license is way to expensive and I won't be able to make this in a good couple of years.

If forex license is required if I want to open an offshore IBC then it is not worth it
 

EUR99

Member
Hi John,

Ok to be honest I forgot to put this in my first point I think you’ll struggle to open a USD account for that purpose it’s generally very hard to obtain a USD with anything linked to forex,so I would suggest a EUR and keep your operations in EUR assuming most of the brokers accounts you want to fund are in EUR you should be fine with a sepa account within the EU only

To clarify are you just trading your own capital or other peoples funds ?
 

JohnDoe123

New Member
Just my own capital and I am not an EU resident so opening a SEPA account would be difficult.
Not sure if would be easy to open a business in EU as well for this purpose
 

EUR99

Member
You should be able to get a SEPA EUR account without too many issues even if you aren’t an EU resident etc
 

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