The overseas FX company easyMarkets allows you to open a corporate account using their trading page, so we will introduce and explain it in this article. They usually offer accounts for individual users. However, they also handle corporate accounts and it is possible to open a corporate account. However, for corporate accounts, the standards are higher because there is more paperwork and screening.
Advantages and disadvantages of corporate accounts
What are the advantages and disadvantages of choosing a corporate account rather than an individual account? Some companies offer corporate accounts, which can be used with easy Markets as well. However, unlike a personal account, the settings and information are different, so whether or not it is recommended depends on the person. Please contact support for more details.
Necessary expenses for FX expenses
When trading FX as an individual, there is a disadvantage that the range of expenditures that can be recognized as expenses is narrow. However, once you become a corporation, the range of expenses that can be expensed becomes much wider, which can lead to tax savings. In other words, a corporate account has a tax saving effect.
loss carry forward
For individuals, losses can only be carried forward for three years, but for corporate accounts, losses can be carried forward for up to 10 years. This has the advantage of making it easier to save on taxes than with a personal account.
Total profit and loss
For corporate accounts, profits and losses can be combined. If you have other businesses, you can calculate this by adding them together. Income earned through personal FX trading is classified as miscellaneous income. Miscellaneous income cannot be combined with other income.
There will be a cost
In order to establish a corporation, you must prepare the amount of money. The company registration process not only costs money but also time. Also, depending on the company, there is a possibility of hiring people, which incurs labor costs.
not able to use profits freely
Corporations cannot use profits freely. When trading FX with a corporate account, it is necessary to ensure the transparency of funds. Individuals can do as they like, so this is a disadvantage. When starting as a target, fees may be charged in unexpected places. It depends on the purpose, but there are also cases where expenses are incurred widely. It is best to consult with the customer and decide.
Corporate account required documents
For corporate accounts, you do not need just ID and address verification documents like for personal accounts. The following documents are required for corporate accounts. Please note that you will need documents issued in the relevant country of residence and management numbers. It is safe because they have a proper financial license. If you wish, you can apply and fill out the account opening form on the official website and agree to the terms before proceeding.
- Certificate of all history items
- Company address proof
- shareholder list
- articles of incorporation
- financial statements
- bank statement
In addition to these company documents, you will also need additional identity verification documents. The following documents are also required for individual users.
- Identification: Driver’s license, passport, My Number card
- Address confirmation: utility bill, credit card or bank statement
How to open a corporate account
To open a corporate account, you must first open an account as an individual. The following article introduces how to open an individual account, so please refer to it and complete the opening process. You are required to register your personal information (date of birth, address, phone number) and upload your ID and address confirmation documents.
Request to open a corporate account
After opening an individual account, you will need to contact the support center and request to open a corporate account. Since it cannot be operated by the user, it is analog compatible. easyMarkets will ask you to submit the specified documents, so please submit them. The examination will begin.
Corporate Account Frequently Asked Questions
We have compiled a list of frequently asked questions regarding opening a corporate account. Corporate accounts have been introduced by other companies such as iforex, axiory, exness, fxgt, threetrader, titanfx, and xmtrading, so if you have experience with other companies, you will be able to use them smoothly. However, you can access environments such as easytrade that other companies do not have, so if you have the knowledge, you will be able to make a profit immediately with currency pairs and CFDs. If you start financial services now, residents can take advantage of the system and make a lot of money in the market from the first time. Some people will see their balance increase at once, so consider it.
Is there a difference between a corporate account and a personal account?
Corporate accounts have advantages in terms of tax savings. There are also disadvantages, but I have explained them above, so I hope you find them helpful. In both cases, you will be required to upload required documents such as ID and address verification documents. Both platforms, including the minimum deposit amount and MT4 tools, can be used once a new account is opened. You can also trade on the app.
Can I open two accounts: a personal account and a business account?
After opening a personal account at easyMarkets, you will need to go through the process of turning that account into a corporate account. Since easyMarkets only allows one account per person, it is not possible to have multiple accounts. Also, if you make a profit, you will be required to pay tax. Both types can be used without restrictions, so it is worth choosing which one to use. The service can be used without any restrictions on functions, etc. Many types can be used continuously from the web at the investor’s discretion.
Does the zero cut apply to corporate accounts?
Recently, easyMarkets has been offering the same trading conditions for both personal and corporate accounts. Loss cut and zero cut are also applied to corporate accounts. There is an explanation on the official website, so be sure to understand the risks. Currently, you can trade cryptocurrencies (Bitcoin), foreign exchange, precious metals, energy, stocks, etc. Vanilla options can also be used by logging in. Investors and personnel should always start with a small amount.
I want to know about corporate account leverage and campaigns.
Corporate accounts, like individuals, are offered three types of accounts regardless of region and a maximum leverage of 400x. Limited-time promotions and campaigns are also applied, so you can receive bonuses. Trading with hedging, scalping, and automated trading (EA) tools is also permitted. Unique option trading such as dealcancellation is also possible, and metatrader can also be used. Click on the screen to invest. There is also a support guide on the website for your reference. There is a wealth of unique content to help you avoid placing an order in the negative.
Can I cancel my corporate account?
You can cancel your corporate account just like you can cancel your personal account. However, you cannot do this yourself, so please contact the support center and have them handle the process. This is a broker that can increase your assets considerably in the industry, as you can earn and receive bonuses on futures and other products, making it possible to make fairly large trades. Freeze trade rights are also available on mobile apps and PCs, so if you are a first-time user, try it out with a wide range of stocks.
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