At the same time, for incorporated companies, recipients of the Latvian license, certification in the EU is available — this is a key factor for many business owners from the former USSR states who are looking to expand to European markets. As per the existing Directive regulating operations with financial instruments and implemented in Latvia, all EU-States are obliged to give companies the freedom to provide services covered by their license.
Once your investment brokerage firm has been licensed in Latvia, you can simply notify the authorities of other Eurozone states of your intention to offer investment services in their territory this will be regarded as actual certification.
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All you need is to obtain approval from the selected state without going through the licensing process again. Latvia offers broker licenses to legal entities that are local residents or members of the European Union duly certified. It should be understood that the Republic of Latvia is not an offshore business, commercial operations are subject to standard taxation. All relations in the financial instruments market are regulated by a specialised Supervisory Commission that carries out its functions as per the relevant legislation of the Republic of Latvia.
Prifinance provides the full range of support in obtaining a forex license in Latvia. We have gained considerable experience in the safe conduct of all types of businesses in various jurisdictions, and provide services for:. When forming the authorised capital of a licensed forex firm, it is not possible to use intangible assets.
The supervisory commission determines the level of equity capital sufficient for the subject, who is obliged to maintain the set "bar". The minimum threshold for entry into the market for authorised capital is EUR 50,, including:.
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One hundred percent of the capital must be paid. High risk transaction amounts should not exceed the amount of equity by more than eight times. To obtain a broker license, as a rule, you must first establish and register the appropriate firm. After that, you will need to:. No fee is charged for the license, but there are mandatory annual fees with rates set by the Latvian regulator on an annual basis. The company is required to have a full and real address, conduct bookkeeping and submit reports. Once the account is activated, the licensing authority is provided with the following:.
To obtain a forex license in Latvia, a company must meet the numerous requirements that apply to owners, authorised capital, personnel and so on. The following rules are established for the owners of the company applying for brokerage activity:. They must remain directors for the entire duration of the license.
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The management and key employees of the firm must have:. Several new binary options brokers appear each month. There are hundreds of brokers in the world of binary options!!! In addition to reliable brokers, such as banc de binary , stockpair , and 24Option , there are many unreliable scammy brokers! Binary options trade can be a very good business, but we always have to be on a lookout for bad brokers as these can ruin our experience with binary options trade.
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How many days, weeks or even months do you carefully watch the market and, as soon as you start trading, problems arise. Brokers like this are usually not regulated by committee and, therefore, no committee can stop them. And even if it tried and took their license, brokers will continue to offer their services illegally. It would not be the first time, see Zoomtrader for example. Many other brokers shared similar fate:. But what seems to be the worst: these brokers continue to exist!!!
And they probably continue stealing from their unsuspecting customers.
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And therefore, I ask all of you: take a look at our broker reviews before you start with trading binary options. Brokers which we recommend have been throughly evaluated by us and never caused us any issues. And even if they did, these were minor and we informed you about them.
For example, ETX Capital , which suspended our account with seemingly no reason. In the end, it was all resolved. Much has been already written on this theme. For example here: Are binary options a scam? To put it shortly: binary options are a great money-making tool , provided that we educate ourselves, try the demo account and only after that start trading with one of our recommended brokers.