To obtain an Investment Service Provider License, Forex brokers need a reliable and competent legal service adviser. It is quite a difficult procedure and requires a high level of knowledge to prepare all necessary paperwork, and create a specific organizational structure as per common regulatory requirements, including anti-money laundering requirements.
Any aspiring broker service absolutely needs the expertise and capabilities of a competent legal service adviser. As a company dedicated to helping Forex brokers establish themselves as legitimate and prestigious services among their competitors, we at FXBS specialize not only in MetaTrader tools, client relations managers and other related systems, but also in expert legal services, and in getting our clients the investment service provider license required for practicing Forex trading within the European Union.
While foreign exchange can be a lucrative business, it’s also an industry wrought with a large amount of red tape. Like any financial institution, there are a lot of hoops to jump through before you and your service can achieve total legitimacy and certification under the right regulatory bodies. Forex involves the rapid exchange of a collectively large sum of money. As such, because the very nature of Forex calls for international currencies, it also involves international rules – and in that, the legal rules and distinctions can get quite muddy. However, there are regulatory bodies that determine what is legal and illegal in Forex.
Fundamentally, as an online system, many Forex brokers don’t keep strict tabs on these rules and regulations. While it doesn’t hurt them legally, it can hurt them on a business basis – serious clients will seek serious Forex brokers with a strict adherence to rules and regulations, as a means to protect their money and their investment. While its name is different for each country, every European nation has a license that all investment services providers must file for in order to conduct their business. As part of the EU, our experience and expertise in obtaining a Latvian investment service provider license is applicable for all nations within the European Union.
Getting Your Investment Service Provider License
When confronting the road towards legitimacy as a Forex broker, there are both international and domestic authorities to contact and seek registration. However, while the domestic regulatory body needs to be informed of a Forex broker’s business beforehand, attaining authorization in one country within the European Economic Area authorizes operations within all EEA countries.