Forex Broker Licence in Montenegro

Why do I need a license?

One of the important factors for clients who choose a Forex broker is the availability of an appropriate license — official permission from the financial regulator (or a special financial commission). A license provides a Forex broker with access to professional stock markets and gives the legal right to conduct trading operations. For traders and investors, a license is a guarantee of reliability and a good reputation of a broker.

Steps

Company registration in Montenegro

It is necessary to register a local company, for which a license will subsequently be issued. You should select the name of the company, indicate the participants and provide their documents in order to register a company.

Account opening

The company needs to open a bank account in order to deposit the share capital. Opening an account is a complex process that should be entrusted to professionals. In order to open an account, you should to collect a package of documents and competently conduct further negotiations.

Contribution of authorized capital

The exact amount of authorized capital depends on the type of the license. The beneficiary must provide documents on the source of origin of funds contributed as authorized capital upon bank's request.

Hiring required employees

The company must have key positions employees, some of them must be local. We will help with the search and selection of employees.

Office rent

Office rent is not mandatory, but having one will significantly increase your chances of obtaining a license. We will select a budget option that meets the requirements.

Preparation of documents for applying for a license

It is necessary to prepare a business plan, and policies. In addition, application forms must be filled out. The client will only need to provide a basic information, on the basis of which we will prepare documents, taking into account local legislation.

Filing an application

It is necessary to submit an application to the regulator after preparing the company and documents. After submitting an application, you must be ready to answer additional questions from the regulator. We will take care of timely and competent answers.

Obtaining a license

The company receives a license after successfully passing the previous stages.

Countries are nearby

Cyprus forex license

If a Forex broker is planning to expand activities in the European Union, Cyprus is usually chosen for this purpose. It is one of the most suitable jurisdictions because it is possible to obtain the Cyprus Securities and Exchange Commission (CySEC) license there. It allows brokers to legally operate, take customer deposits, and perform other legal actions in the territory of any EU member state.

learn more

Forex Broker Licence in Malta

The proof of the legality of the brokerage firm engaged in securities transactions on behalf and/or at the expense of the client is the license. Investors and traders give preference to licensed financial intermediaries as they realize that there is no sense to count on any legal recourse if a conflict of interest situation arises with an illegitimate broker.

learn more

Forex Broker Licence in Mauritius

If you decide to do business in the financial or capital markets, you must have a license to operate even in offshore jurisdictions. Companies registered in Mauritius can apply for a license that allows them to operate legally with options, securities, and futures. It is also the document that authorizes companies to trade in foreign exchange markets.

learn more

Frequently Asked Questions:

in order to obtain a forex license in Montenegro, it is necessary to register a company, prepare policies, technical documentation and other documents. After opening an account and depositing the authorized capital, submit an application to the regulator. After obtaining a license, it is necessary to show the activity of the company in order to avoid its cancellation.

In order to obtain a forex license in Montenegro, the following documents are required: the company's statutory documents, business plan, AML policy, rules for using the resource, confirmation of the identity and experience of the company's participants, technical documentation.

The term for preparing an application for a forex license in Montenegro is 1-2 months, and the term for its consideration by the regulator is 3-5 months.

The final cost of obtaining an investment license in Montenegro is depends on the various factors (the exact list of future services, the region of work, etc.). You can find out the exact cost of obtaining an investment license in Montenegro by contacting our specialists.