This meant Forex brokers in the British Virgin Islands were forced to follow a new set of rules and regulations aimed specifically at Forex brokers and other investment firms. We are stable, solid and well established company. In order to achieve this objective, the Commission has established a process of enforcement and compliance in which businesses are active participants. To start the application process it is necessary to have a company in the BVI specifically formed to provide Forex services. If you own a bank account, you must have executed transactions through different means cards, cheques […]. Custodian Services in Foreign Exchange What is a custodian?
Reasons to Trade with BVI FSC Forex Brokers. BVI FSC stands for the British Virgin Islands Financial Services Commission and is the regulatory body with ultimate responsibility for the regulation, supervision and inspection of all financial services in the British Virgin Islands.5/5(2).
But there is one group of islands that offer this and so much more, the British Virgin Islands. The islands offer both corporations and individuals amazing tax breaks guarantee a zero-percentage tax structure. With all these advantages comes an influx of broker development.
With all the popularity and the influx of brokers and traders coming to the BVI, it was evident a strong regulatory authority was needed to please the global financial community. The BVIFSC has numerous responsibilities with their role of protecting and maintaining the integrity and transparency of financial markets in the British Virgin Islands.
The regulatory authority is responsible for both the financial markets and the protection of traders and investors participating in these markets. As well, they must enforce these rules and supervise firms to ensure they comply with all the guidelines laid out by them. Since the British Virgin Islands are such an attractive destination due to its tax structure, there are many Forex brokers and companies alike who come here.
Although, there are also many companies who set up here purely for tax benefits and operate their services in fraudulent ways. Brokers looking to obtain an offshore forex license should strongly consider the British Virgin Islands. After obtaining some basic information about your business plans, we are happy to provide a quote and overview of the license process. With many years of experience in the forex industry and corporate services, Atomiq Consulting is the best choice for a professional and efficient application process.
Yes, we will also assist your business in establishing a bank account. Some jurisdictions have fixed capital requirements, for example when applying for a forex license in Bulgaria , these settings are fixed. In BVI, there are no fixed requirements, rather the level is determined on a case by case basis.
Yes, we are able to help with obtaining an office and finding local staff to support it. There must also be a rigid business plan and documents covering compliance procedures. But the Commission is more than happy to assist any brokerage firm that wants to obtain a license. However, there are a large number of regulated bodies you may never have encountered, and are probably wondering whether the same protection is afforded.
Since , it has been responsible for regulating companies falling within the Securities and Investment Business Act. This Act requires brokers offering Forex services to comply with the regulation, although it seems a number of firms have managed to slip under the radar of the Commission and operate without regulatory approval.
This is something you should look out for. After taking a look at some of the requirements we discovered Forex brokers are not required to keep minimum levels of capital, to segregate client funds, to contribute to a compensation scheme, or outline their execution policy to customers.
Establishing a BVI Company
18 rows · Offshore Entities: British Virgin Islands Below is a list of online forex brokers which are . Forex Trading in the British Virgin Islands and BVI FSC Forex Brokers For those of you considering Forex trading as an investment, the first hurdle you need to clear is . Best BVIFSC (BVI) Regulated Forex Brokers Advertising Disclosure Listings that appear on this page and/or on this website are of products / companies .