I'm thinking about setting up unregulated fx brokerage offshore.
brief - I pass orders onto other fx brokers programmatically but taking my own fee in the process. Everything is done in crypto no kyc. I built this solution myself over few years.
I recently read that being Brit, operating/controlling offshore company from UK will cause offshore to be uk tax resident company. No problem.
Also, don't need a bank for offshore company because everything is done in crypto.
I know that unregulated brokers are not allowed to accept US clients.
So just wanted to understand more about accepting clients from regulated jurisdictions other than US like UK/EU.
My theory is people from UK/EU who use unregulated fx brokers are not only unprotected but the broker won't be prosecuted by the regulatory body though they might put them on a blacklist. That's better than being chased by America
But we can't actually prevent us clients because they could use VPN etc and we don't do KYC.
It got me thinking about having those disclaimers on the site stating we don't accept or solicit certain clients etc but don't know if that's good enough.
Even if I did do KYC, if the client was a offshore company with american UBOs - don't know how to handle that.
If I did get a EU forex licence like Cysec, ok I solicit EU clients openly but nothing changed - everything in crypto and no KYC.
Then I just think I should just white label or PAMM/MAMM with already regulated brokers but won't work because everything has to be in crypto and no KYC.
These solutions are not that technically advanced to do what I do.
I read about some guy wanting to pass orders directly to liquidity providers using dxtrade.
Interesting but looks like something you need capital for whereas what I'm doing doesn't really need much capital.
This forum is great, might go gold and thanks in advance
brief - I pass orders onto other fx brokers programmatically but taking my own fee in the process. Everything is done in crypto no kyc. I built this solution myself over few years.
I recently read that being Brit, operating/controlling offshore company from UK will cause offshore to be uk tax resident company. No problem.
Also, don't need a bank for offshore company because everything is done in crypto.
I know that unregulated brokers are not allowed to accept US clients.
So just wanted to understand more about accepting clients from regulated jurisdictions other than US like UK/EU.
My theory is people from UK/EU who use unregulated fx brokers are not only unprotected but the broker won't be prosecuted by the regulatory body though they might put them on a blacklist. That's better than being chased by America
But we can't actually prevent us clients because they could use VPN etc and we don't do KYC.
It got me thinking about having those disclaimers on the site stating we don't accept or solicit certain clients etc but don't know if that's good enough.
Even if I did do KYC, if the client was a offshore company with american UBOs - don't know how to handle that.
If I did get a EU forex licence like Cysec, ok I solicit EU clients openly but nothing changed - everything in crypto and no KYC.
Then I just think I should just white label or PAMM/MAMM with already regulated brokers but won't work because everything has to be in crypto and no KYC.
These solutions are not that technically advanced to do what I do.
I read about some guy wanting to pass orders directly to liquidity providers using dxtrade.
Interesting but looks like something you need capital for whereas what I'm doing doesn't really need much capital.
This forum is great, might go gold and thanks in advance
