i need bank account support swift transfer

[atefa2009]

Hi,

I am working with my team in forex trading for a company like icmarkets.com, vantagefx.com, and etc.

I have a problem to withdraw profit using wire transfer with multiple clients.

the bank must have this requirement:-
- support swift transfer to get payment for Australia and spea zone and other countries.
- it must support big transfer for example form 10k to 50k EUR and USD
- can make multiple account number to get multiple payments
- how to solve client name when making the transfer , I mean each client has it is own name and the forex company will release payment using IBAN or bank account number with its own name!

there easy way to make this option

Thanks

 

[lrotter]

Know the solution that can help you with the exception of dedicated IBAN

 

[atefa2009]

lrotter said:
Know the solution that can help you with the exception of dedicated IBAN
Click to expand...

what that solution?

 

[Luganese]

If your forex broker licensed ? Anyway, have bank transfers bridges to make smooth transactions

 

[atefa2009]

Luganese said:
If your forex broker licensed ? Anyway, have bank transfers bridges to make smooth transactions
Click to expand...

yes all broker I work with it is licensed and top rank as icmarket and vantagefx

how can use these banks' account and it is accepted from any client name?

thanks

 

[atefa2009]

just see reply without a solution, still looking for solutions!

 

[Tax Cow]

Look into CIM Switzerland and OCBC Singapore. Both are a good fit for an active business with a moderate risk profile.

...Licensed FX should be within the threshhold of tolerance for both but I can't confirm from my personal experience.

 

[JohnLocke]

xzars said:
Look into CIM Switzerland and OCBC Singapore. Both are a good fit for an active business with a moderate risk profile.
Click to expand...

don't both require large deposits and license or do you know the min. requirements to get an account there?

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[CaptK]

Your risk profile is too much.
Payments on behalf of clients to accounts in their own name.
Meaning you trade their accounts so you are not licensed. It would be difficult for you to receive multiple payments in different names. Setting up multiple IBAN's in different names is a massive RED FLAG.

You need to look at an investment licence in the Caribbean, Mauritius or Seychelles. Or see if funds can be moved internally through the broker to you then send it out. I doubt it though.

 

[Tax Cow]

CaptK said:
Your risk profile is too much.
Payments on behalf of clients to accounts in their own name.
Meaning you trade their accounts so you are not licensed. It would be difficult for you to receive multiple payments in different names. Setting up multiple IBAN's in different names is a massive RED FLAG.

You need to look at an investment licence in the Caribbean, Mauritius or Seychelles. Or see if funds can be moved internally through the broker to you then send it out. I doubt it though.
Click to expand...

I suspected something like this, but assumed that a simpler scenario applies to OP.

So he's possibly looking into a requirement to be licensed as a custodian, and then lubing up for a lengthy process of receiving more permissions to provide the actual hedge-fund-like services.

With that considered, I retract my suggestion to try CIM and OCBC. Get a license from one of the easier offshore islands that has decent on-shore banks readily available to service your business. There's going to be some local presence requirement for the financial license tough. An expert can help you choose.

Last edited: Jul 31, 2020

 

[CaptK]

xzars said:
I suspected something like this, but assumed that a simpler scenario applies to OP.

So he's possibly looking into a requirement to be licensed as a custodian, and then lubing up for a lengthy process of receiving more permissions to provide the actual hedge-fund-like services.

With that considered, I retract my suggestion to try CIM and OCBC. Get a license from one of the easier offshore islands that has decent on-shore banks readily available to service your business. There's going to be some local presence requirement for the financial license tough. An expert can help you choose.
Click to expand...

The requirement by the broker to pay profits in the name of the account holder is the clear indication. Alternatively he could buy an EMI off the shelf and then can control the way he receives his funds.

Hedge Fund in the Caribbean would suffice with a sensible should keep his clients happy.