Best Affordable FX Brokerage License Options Today (Budget ~$50K)

[Clearsky Network]

That's unfortunately insufficient budget in today's realities that won't get you licensed virtually anywhere considering setup costs + capital requirements + substance. I'd consider adhering to @Sols advice.

As already mentioned by @Clearsky Network you're not going to get that on your budget. Setup fees, FSC fees and locally required staff arrangements would most likely alone consume all your initial setup budget.

@Clearsky Network dear colleague, although I see where it's coming from, Comoros is pure garbage by all reasonable standards. Of course, it's not a solution which is a staying power.

Agree, Comoros is a Garbage, yet its still possible to get some payment solutions with this garbage, platform and traffic.

 

[Clearsky Network]

What is a realistic budget for registering a company, applying for licenses, and being compliant with all international regulations?

minimum of 80-150k, depending on the license and permissions.
South African license would probably be the cheapest, no share capital requirements but it would still require local office and director.

 

[gatrader]

That's unfortunately insufficient budget in today's realities that won't get you licensed virtually anywhere considering setup costs + capital requirements + substance. I'd consider adhering to @Sols advice.

As already mentioned by @Clearsky Network you're not going to get that on your budget. Setup fees, FSC fees and locally required staff arrangements would most likely alone consume all your initial setup budget.

@Clearsky Network dear colleague, although I see where it's coming from, Comoros is pure garbage by all reasonable standards. Of course, it's not a solution which is a staying power.

Is Mauritius much more than 50k? Because everyone is complaining about the low budget but no one is saying how much it really costs to setup from scratch.

 

[Sols]

Is Mauritius much more than 50k? Because everyone is complaining about the low budget but no one is saying how much it really costs to setup from scratch.

I can only speak from my own experience getting licenses like this in Mauritius and other places. And, without digging up old emails, I wouldn't know what the total cost actually is. These are usually pretty long-lasting projects where the scope may change during the process. However, I wouldn't expect anything less than well into six figures once you factor in all surrounding costs like corporate service fees, legal fees, salaries for required employees/contractors, office space, flights to/from the jurisdiction (face to face meetings with the regulator often required/expected), insurances, certifications, pre-launch audits, and so on.

You're focusing on the wrong part of the project: the minimum share capital. That's not what it costs. That's the bare minimum capital you need to have in addition to paying for everything else around.

On top of the costs and minimum paid-up share capital, banks will often ask for a security deposit to open an account for you. That's not always the case and is often not required. Depends on what you do, who your bank is, and the overall risk profile. Worth looking into, though. I've seen a couple of projects nearly fail because the founders had to quickly raise another few hundred thousand to put in as collateral with a bank.

 

[gatrader]

Let me put it straight forward...I'm looking for a cheap solution not because I can't afford but because it's a setup I want to have ready just in case but atm it's not needed as I already have another structure in place.

 

[Compliance Circle]

Then...

Why bother with bearing all the associated costs/having employees on payroll/paying for office and every other expense point @Sols mentioned?

there's always plenty of off-shelf structures in the market to be "just in place for when the right times arrive"