The procedure for obtaining a forex broker license can be complex without the guidance of a professional consultancy firm. Starting Business consultants will be on hand to assist with every stage of the licensing procedure, and will provide guidance on the company documentation and manual preparation steps. We aim to help clients meet all necessary requirements in order to become an investment broker in a professional and timely manner.
Regulation and licensing issues are quite complex and it is advisable to use the assistance of a professional specialist firm that will be able to guide you each step of the way until your forex license is issued.
By choosing Starting Business as your advisor for your licensing needs, you will have a complete understanding of what you need to do and an effective plan for what you have to do in order to succeed with your forex broker license application. Moreover, you will save time and expense which you would experience if you proceed without correct information and proper preparation.
On the basis of your requirements and specific needs, Starting Business will offer a thorough legal analysis of the legislation regulating forex brokerage or investment business in the jurisdiction of your choice. We can also advise you on all the related financial, regulatory and practical issues that are important for decision making regarding.
Moreover, as part of the pre-incorporation and pre-application process, we would need to ensure that all directors, managers, shareholders and beneficial owners of the applicant company pass the so called “fit and proper test” and this is one of the areas where our advice and support can be indispensable. Since the fitness and propriety are determined by regulatory bodies on the basis of collected documents and information rather than on conducting a physical test itself, we will advise you on how certain documents should be prepared and where obtained from, what information they should include etc. Needless to say, the documents obtained will be thoroughly checked by us for correctness and completeness before being sent to the license issuing authority.
No forex license application will be reviewed by a regulatory authority unless it is supported by a professional business plan, financial projections, company’s internal manual, operations policies and procedures. These should be drafted in strict compliance with regulatory requirements which are based on the underlying laws, rules and regulations. Unless you have deep and thorough knowledge and understanding of such laws and regulations, it is highly unlikely that the documentation will be properly drafted and withstand the scrutiny of your license issuing authority. This is another area where our guidance and expertise can be indispensable, as our advisory team has substantial experience in the preparation of statutory documents which are accepted by regulatory authorities in various jurisdictions.
After the submission of your application documents to a regulator, we will closely monitor the progress and status of your application and attend, on your behalf, to all queries the regulator may have in relation to your application or otherwise. We shall discuss these with you and provide a comprehensive balanced response to the regulator in order to avoid any delays in the application review and issuance of your license.
We will forward you a copy of your license the moment we have received it and explain what is reasonably required in order to maintain it.
Licensed entities need to meet certain standards and requirements in order to maintain their licenses. Some jurisdictions – EU member states in particular – have stricter governing and monitoring arrangements than others, however being licensed but not regulated sounds like an oxymoron, i.e. two incompatible things, and as such licensees would have to comply with on-going regulatory requirements in the course of their operations. This is where the term “compliance” stems from.
Starting Business will be on hand to assist you with any additional Broker Services you may require.