The UK financial industry is a vast, complex and highly regulated place. Hence it is crucial to understand the application procedure while acquiring a Forex license in UK. Knowing the regulatory body for UK forex brokers is also necessary as compliance with the rules and regulations as laid down by this regulatory body is supreme.
About Licensing Body(Financial Conduct Authority (FCA London))
FCA, London has some of the major Forex brokers who are duly authorized with FCA Broker License. The FCA in London is regarded as one of the toughest and strongest regulatory procedure in acquiring a Forex license.
Tax Rate System:
Corporate Tax is just 20%
Individual Tax starts from 20%
From the Client
- Lawyer's reference letter
- Director/Shareholder's Bank reference letter
- Director/Shareholder's CV
- Criminal record check certificate
- The copy of educational degree certificate (Should be in English)
- Notarized passport copy (Should be notarized in English - 2 copies)
- Last 3 months utility bill (Should be notarized in English - 2 copies with original)
- 1/3rd of office staff should hold the citizenship of the UK (Not mandatory)
Related to the process
- FCA, United Kingdom Application Form
- AML (Anti-Money Laundering) Procedures
- AML/CFT Declaration
- Strong Business Plan with stated Revenue
- 3-year Financial projection of your business
- Statutory Declarations
- Bank Application Forms
- Balance sheet with forecast description
- Trademark applications, IP Agreements and Domain Name Registration;
- Website preparation as well as the preparation or review of any other marketing material.
- Assisting with the purchase and negotiations for an MT4 server or any other trading platform required
- Assessment, review or testing of the entity’s proposed trading platform;
- Assisting with the implementation of Know Your Customer (“KYC”) processes or other compliance procedures.