Bank account for forex trading company and crypto
- Thread starter moscote
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his setup is based on a fake licence, of course its worthless and at worst brings you into legal trouble
you don't seem to have experience. If you are a regulated FX-broker with a Seychelles licence and substance in Seychelles plus audited accounts I know quite some banks that are happy to onbard such structures. You are talking about Offhore companies and yes for Seychelles IBC its next to impossible to find a bank.
FYI I am not a broker. I never stated I am a broker. Many traders open up LLC or C corp and trade fx or stocks with a broker on them. This is for tax planning. Unfortunately reputable banks don't like forex trading. They term it as gambling but trade fx themselves.
First off, let's get clear on what your "IB broker company" actually does. Are you just gonna be sending clients to a main︀ forex broker and collecting a fee for it? Or are you planning on actually handling︁ their money, like taking deposits or making withdrawals for them, or even trading on their︂ behalf?
If you're just introducing folks and the main broker handles all the money and︃ trading, then your banking needs are gonna be way simpler.
But if you're gonna touch︄ client money at all, even for a hot second, you're gonna need a serious financial︅ license (think big-time regulatory stuff) and a special bank account just for client funds. That's︆ a whole different ballgame, way more complicated and regulated.
If you're just introducing folks and the main broker handles all the money and︃ trading, then your banking needs are gonna be way simpler.
But if you're gonna touch︄ client money at all, even for a hot second, you're gonna need a serious financial︅ license (think big-time regulatory stuff) and a special bank account just for client funds. That's︆ a whole different ballgame, way more complicated and regulated.
Hi @plotoffshore just saw your question. I was offering them what they asked for (solution), since this is my bread and butter. Unfortunately, the guys were not that serious in their demands, so they just disappeared.
NVO
NVO
An IB or even a full-fledged broker (Cyprus︂ CIF, for example), by definition, can't handle client money (they can keep tabs of the︃ clients deposits/withdrawals through their own ledger in their depository bank/EMI for the sake of reconciling︄ clients' P&L). Unless of course they engage in asset management, in which case they could︅ hold it captive for the sole purpose of executing or routing orders into the clients'︆ accounts. But even that is a stretch too far.
NVO
NVO
There are plenty of EMIs that offer IBAN accounts to Seychelles fx, including C2B which i guess you need the most.
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