FOREX trading can bring good profit especially when you know what you are doing. At the same time, opening a secure and easy to use FOREX account is not so simple these days. In this article, we present ten alternative financial institutions where you can set up a corporate or a personal account in 2020 and trade FOREX. You can establish an account without leaving home.
How should you prepare for setting up a FOREX account?
The key factor is the document package. If you are serious about making a profit through FOREX trading, you have to ensure that your application document set is complete and the papers do not contain any errors nor blots.
We realize that this sounds like a primary school instruction but in this particular case, such instruction is justified.
Over the recent years, financial institutions all around the world have had to face the following phenomena:
- Tougher control on the part of the regulating authorities;
- Higher level of responsibility: million-dollar fines and license termination if a violation occurs;
- Global de-offshorization policy;
- Automatic exchange of financial information.
These toughened requirements have resulted in scrupulous security checks on the part of the banks. They treat new foreign clients with particular caution.
It has become much more difficult to open a corporate, a merchant, or even a personal account in a foreign bank. New clients face stricter requirements than before. This is exactly why you need professional advice of a consultant who will help you compile the application documents package, ascertain that all the documents are in good order, and introduce you (or your company) to the bank or some other financial institution.
This concerns opening FOREX accounts too.
Thus, before you proceed, please apply for a consultation and learn more about the possibilities to set up a FOREX account. If you place a request by writing to email@example.com, our specialists will help you choose the option that suits you best.
Where you can open a FOREX account: Ten alternative solutions
Even though setting up a financial account abroad is difficult indeed, we are ready to offer minimum ten different financial institutions where you can open an account and trade FOREX. All the institutions listed below have licenses and they all are prepared to service foreign clients.
Some of these brokers are so large and well established that they offer training and certificates to their clients. So, even if you are a rookie in this business, you can choose the platform that is able to give you a good start by providing training in FOREX trading.
Make a choice after you have consulted our specialists: firstname.lastname@example.org.
A FOREX account with a British broker
This broker’s headquarters are located in Great Britain but it has branch offices all over the world and offers over a hundred trade platforms including FOREX.
Both corporations and private individuals are entitled to open trading accounts with this broker. The accounts are opened remotely.
Minimum deposit for a legal entity is US$ 10,000 or the equivalent in another currency.
The broker also provides additional services. In particular, it gives access to market data.
A FOREX account in Mauritius
If you are entering the market with serious intentions, please consider the opportunity to open an account on the island of Mauritius. The conditions become highly beneficial when your portfolio is worth 500,000 EUR or more.
The account can be opened remotely. You will gain access to a multi-platform trading service. You can trade is all popular classes of assets including trading FOREX.
The company has strong partner relationships with the largest and the most secure financial institutions of the world, so your assets will be well protected.
A FOREX account in Australia
Sydney is where FOREX trading starts on the planet every weekday. You have an opportunity to set up an account with an Australian broker that is one of the largest FOREX brokers in the world.
The platform offers high speed of trading, training in the profession, real-time client support, and a high level of liquidity. The broker acts as an intermediary between institutional and retail clients.
Low spread, leverage of up to 1:500, high liquidity for day traders and more. You can trade using your computer or a mobile device.
As is the case with other brokers, the account in Australia can be opened remotely.
A FOREX account in a Danish bank
Over 40,000 financial instruments, advanced software, a famous name, and a secure financial system – this is what the Danish bank offers to its clients.
The bank implements a three-level commission system. The commission rate depends upon the activity of the trader: the more active your account is the lower is the commission!
The account can be opened remotely. High liquidity goes without saying. Besides, the Danish bank gives access to detailed statistics and strictly controls the deals and the prices.
A FOREX account with a Swiss bank
This bank has branch offices all over Europe as well as Middle East and Asia. The bank combines the creativity of a start-up and the classic Swiss security.
The FOREX account can be opened remotely. You can choose from four levels of access with different spreads each. Whichever one you choose, there is no commission on the deals. The minimum deposit is only US$ 1,000.
You can choose the platform that you deem most convenient to use. The bank clients manage assets whose total worth is about 30.5 billion Swiss francs.
A FOREX account with a Swiss bank group
Would you like to open a Forex account that is insured for up to 100,000 Swiss franc without leaving the comfort of your home? Then consider setting up an account with a Swiss banking group. The leverage is up to 1:200. You can engage in FOREX trading or deal in other assets. The welcome bonus is 100%.
This is a licensed bank group with solid reputation and vast experience.
The commission depends on the deposit amount. This platform should be especially inviting for large players.
A FOREX account with another Mauritian broker
The distinctive features of this broker located in Mauritius are the extended operation hours, multi-currency solutions, and high level of service. The recommended portfolio amount is US$ 500,000 or more.
Client support in multiple languages is available.
You can trade in various assets with this broker including FOREX trade.
The service fee is collected quarterly.
A FOREX account in Vanuatu
This is one more island country that offers opening a FOREX account remotely. You can also trade in other assets with this broker.
When you have an account with this bank, you gain access to thousands of financial instruments.
The bank works stably and it likes to cooperate with large clients.
A FOREX account in Puerto Rico
If you open an account with this bank in order to engage in FOREX trading, the minimum required deposit amount is only US$ 2,500.
It is important to realize that Puerto Rican banks are part of the USA banking system, which certainly adds to their security.
The bank offers modern software for fast and secure trading.
Large dealers with the monthly turnover that exceeds US$ 1,000,000,000 enjoy premium commission rates.
A FOREX account in Cook Islands
An account with the Cook Islands bank will give you access to thirty stock exchanges located in various parts of the world. You can use a single account to enter multiple trade platforms and trade in multiple different assets.
Opening a trading account with this bank is as easy as setting up a standard account there.
Please bear in mind that this bank does not provide consultations nor training services.
What platform should you choose to trade FOREX?
Each platform and each bank has its own advantages as well as limitations. How should you choose a platform from the list given above? Please apply for a consultation by writing to email@example.com. You will tell us what you would like to have and we will help you choose the best option and set up a FOREX account.
We can assist you in opening both personal and corporate accounts. Please contact us at firstname.lastname@example.org.