Tuesday, 28/02/2017 (Finance Magnates) – There is a new option gaining status for forex broker licences and binary options dealers. It is not actually new, but the financial services regulator in The Bahamas is getting quite a lot of attention from forex brokers and binary options dealers seeking a business-friendly jurisdiction.

Located just 80 kilometers southeast of the United States, The Bahamas is historically a base for US and European asset managers, and hosts some of the biggest financial services firms with a thriving community managing upwards of $800 billion.

Looking for an Alternative?
The Securities Commission of The Bahamas (SCB) is certainly a regulator that should be considered if you are looking for a forex broker licence or seeking an alternative to your current jurisdiction.

• The Bahamas is a former British Crown colony and its stable parliamentary democracy has been built upon English law.
• The country is on everyone’s good list, meaning it doesn’t come with the dubious distinctions of notorious tax-haven countries.
• Opening a bank account is not as difficult as other jurisdictions, even those which are EU equivalent.
• Its government complies with global Money Laundering guidelines and Common Reporting Standards established by the OECD.
• US, UK and European financial institutions view Bahamas-based companies in a positive way; therefore, establishing business relationships is easier.

This is an excerpt from Finance Magnates as it appeared on February 28, 2017. For updates or to read the current version of this post in its entirety, please click here.

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