Thread: Unlicensed Jurisdictions to Operate in Forex

Hello everyone, Apart from Saint Vincent and the Grenadines, are there other jurisdictions where you can operate as a Forex broker without the need for a specific license or minimum capital requirements? If so, which countries allow it and why?

There are several tax havens that operate with very lax or almost non-existent regulations. To name a few: Belize, Cayman Islands, Vanuatu. They do not require large capital guarantees from brokers and the level of supervision they offer is quite limited. That carries a high risk for those who invest through these entities. Ideally it is to operate with great caution when it comes to these types of companies.

Thank you for the info. I had been mentioned by Belize, but I did not know that Vanuatu was also so permissive. Do any of these countries have any public record of brokers?

Yeah, but don't get excited, those records are usually decorative, showing up there doesn't mean the broker is reliable, just paid the fee.

If you're going to mount something in one of those jurisdictions, at least make sure your client knows what he's getting himself into.

Most of those jurisdictions are wanted by evaders or scammers. I don’t say it for you, but statistics don’t lie.

My intention is not to cheat anyone. I am exploring options to launch a copy trading service with total transparency. That is why the question.

Then it begins with serious jurisdiction, such as Cyprus or even Malta. They are not perfect, but at least they are within the European framework.

Transparency in tax haven? Sounds like “healthy salad in a McDonald’s.” Good luck with that.

I understand, but not everyone has the necessary capital to meet the requirements of regulators like the FCA. I’m looking for a starting point, not a way to avoid responsibilities.