How to legally open your own Forex brokerage business?
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I am currently thinking about launching my own project in the Forex sphere. I have some experience in trading, plus a team of developers for the platform. But the more I read, the more I understand that it is impossible to work officially without a license. I want to enter the international market, so I am interested in how to get such a license, how long it takes and in which country it is better to apply. I read that in some jurisdictions it is easier, and in others there are strict requirements and high costs.
You are right, without a license for Forex brokerage activities it is almost impossible to enter the international market. This is not only a requirement of regulators, but also a matter of reputation and customer trust. If you want to understand in detail, I advise you to look at the information on the forex broker license. Everything is laid out step by step there – from choosing a jurisdiction to submitting documents. In short: you need to decide in which country you will receive a license. For example, popular jurisdictions include Cyprus, Great Britain, Belize, and Mauritius. Each has its own conditions: somewhere the requirements are simpler, but the trust of clients is lower, and somewhere the rules are strict, but the status is higher.
It is also important to immediately set up a transparent company structure and have lawyers who understand the requirements of regulators. Some people get a license where it is cheaper and faster, and then develop their business in other countries. In any case, it is better to start with consultations with specialists to avoid mistakes at the start.
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