Tue Oct 31, 2017
Now is the Time to Open Your Offshore Forex Brokerage
The era of internet and globalization has made it easier than ever to create aspiring online businesses with a global audience. Among these booming businesses that have benefited from the technological development are forex brokers. The forex market offers tremendous opportunities for entrepreneurs looking to enter the largest financial market in the world, with a daily turnover of more than $5 trillion and a growing number of retail forex traders around the world.
Now might be the best time to open an offshore forex brokerage – don’t miss the opportunity! According to the joint Forex Industry Report by LeapRate and Dow Jones, retail forex trading reached a daily trading volume of $185 billion in 2011, experiencing a stunning growth from under $10 billion per day in 2001.
Today, there are thousands of online Forex brokers available and their number is only increasing. While many of them have found their edge to operate efficiently and make a profit in this competitive market, there is also a number of brokers that cannot keep up with the competition and have to leave the market in the long-run.
This is the point where you want a reliable partner that not only helps you establish a brokerage, but also takes care about the technology, trading platforms, and gives you world-class customer support around the clock. Opening a forex brokerage is like a journey, and Forexware could be your guide.
Where to Open Your Offshore Brokerage?
Among the many decisions to make when opening a forex brokerage, the one concerning where to base your company is one of the most important. The initial work involved in establishing a company and the legal framework around it present major hassles that every new forex broker faces. Choosing the right jurisdiction where to incorporate your company is the first step towards establishing a successful forex brokerage.
While some brokers opt for more established countries like the United Kingdom and Cyprus, the ease and low cost of establishing an offshore corporation in countries like Saint Vincent and the Grenadines, Vanuatu, Cayman Islands and even republic of Georgia attract an increasing number of new brokerages.
Among these countries, Saint Vincent and the Grenadines proved to be the best option with the lowest initial capital requirements.
Many of these countries are tax havens and feature tax rates that are practically at zero, with Saint Vincent and the Grenadines emerging as an especially popular destination for opening offshore companies. The country was removed from OECD’s “grey” list of non-transparent tax jurisdictions in 2010, but has not yet signed a Tax Information Exchange Agreement with the United States or Canada, which means that your confidential information is protected from the US and Canadian authorities.
No Restriction on Leverage
Financial companies established in any offshore venues, including forex brokerages, do not have a leverage restriction on their services. You can offer any leverage you want to your clients, and concentrate entirely on offering the best possible user experience instead of worrying about strict financial regulations.
How can Forexware Help?
Forexware will take care of all the paperwork required for opening your forex brokerage in the venue of your choice to help you fast track your brokerage setup. All you need is to take care of your clients and business, while Forexware takes care of the offshore company formation, technology, trading platforms, deep liquidity pools, and offers top-notch customer support to your business along the way.
Our services include:
- The complete offshore company formation in the venue of your choice, including all paperwork and obtaining any necessary licenses
- The formation of an E-Wallet/Bank for accepting client deposits
- Setting up a PSP service (Payment Service Provider) for the acceptance of client credit cards
- Fully apostilled documents
Forexware also offers several packages which each offer varying amounts of features and services.
Whether you choose our FXStarter Kit Select, Deluxe or Supreme, you can depend on our experience in the forex business and 24/6 customer support.
Our FXStarter Kit Select does not require any upfront payments, making it unique in the market. This package is ideal for entrepreneurs who want to start a small FX business and grow into a future white label.
More ambitious entrepreneurs, who also want a custom branded trading platform and a host of additional services including incorporation and corporate bank accounts, can select our FXStarter Kit Deluxe and FXStarter Kit Supreme packages.