FBS, an overseas FX broker, offers corporate accounts, so this article will introduce and explain how to use them in an easy-to-understand manner. Many traders from all over the world are registered. And trades are conducted every day, but most of them are ordinary users with personal accounts. However, some users have opened corporate accounts. What are the benefits of a corporate account?
What is a corporate account?
A corporate account means that you register as a company, not as an individual. There are advantages and disadvantages to a corporate account, as follows. In addition, even for a corporate account, identification and address verification documents are required. Be sure to prepare your passport, driver’s license, and My Number card. You will need to upload an image from the official website that shows your name.
There are many expenses that can be recorded as expenses.
There are many expenses that can be recorded in corporate accounts. In the case of an individual, you can record expenses even if they cannot be classified as expenses, which is a tax saving measure. For corporations, executive compensation, life insurance, etc. can also be claimed as expenses. For individuals, I think this is limited to books, computers, and rent.
Aggregation of profits and losses is possible
The advantage of using a corporate account is that you can calculate your profits and losses. Profit and loss aggregation is a system that allows you to offset the profits and losses of one year when you run multiple businesses, and it is possible to offset the profits and losses of any of the businesses even if the annual income is in the red.
Unrealized loss is also a loss
Trading as a corporation also has the advantage of being able to record unrealized losses as losses. In the case of a personal account, held positions cannot be recorded.
I don’t have money to spend freely
In the case of a corporation, in various aspects, there is an obligation to explain the meaning of the use of expenses. This means that there are more restrictions than individuals.
Establishing a corporation is expensive
Corporations that can be established for profit purposes are subject to establishment fees. Since the cost of establishment is high, consider whether to build one after taking this point into consideration.
Taxes even in deficit
When a corporation is established, taxes are payable even if the annual income is in the red. This is not the case for individuals, but for corporations, it is necessary to be careful about financing.
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How to open a corporate account
Opening an FBS corporate account is almost the same as opening an individual account. First, please open an account as an individual. Please refer to the article on the following page for instructions on how to open one. If you log in, you can insert funds and currency and trade within the specified time just like an individual. Depending on the selection of financial products such as currency pairs, fees will be incurred as with personal accounts. You can also use official MT tools, so you can download and use both MT4 and MT5.
After opening an account, please contact the support center. Please send the representative’s identification card, representative’s address confirmation document, and corporate documents to the support desk along with a statement stating your desire to open a corporate account. If there are no defects in the documents, the corporate account opening will be completed.
Documents required to open a corporate account
The required documents include the articles of incorporation, a certified copy of the register, a certificate of all historical matters, a corporate seal certificate, and a representative’s identity verification document. There are also cases where you may be required to submit other documents, so we recommend that you prepare them in advance. The documents required for a corporate account are not uploaded and submitted, but are sent to the support desk after opening an individual account.
Switching between corporate and personal accounts
Switching between a corporate account and a personal account basically requires manual operation by the support center. If you wish to switch, please contact the support center each time. Users cannot switch on their own.
Deposits and withdrawals in the name of a corporation
For corporate accounts, deposits and withdrawals must be made in the name of the representative. Please note that if the name of the holder is different, the transaction will be rejected and canceled in either case.
Opening multiple corporate accounts
Corporate accounts are the same as personal accounts, and multiple accounts cannot be opened. This is also clearly stated in FBS’s prohibitions. If an account is not used for three months, it will be temporarily disabled. If you wish to use it again, you can contact the support desk to reactivate it. Let’s ask for more details about financial services.
Apply zero cut
Zero cut applies to both corporate and personal accounts. The operating company has a financial license, so it is reliable and safe. Margin, platform, product name, lot and other categories will be the same as personal accounts from the start. Currently, you should basically decide the lot according to your balance and minimize scalping and hedging, but with zero cut, there is no margin call. Basically, there will be no problems when starting on the screen.
Leverage, account types and bonuses
Each condition is set in the same way as for a personal account. You can manage the investment assets of the target account on your My Page, and set orders such as the minimum amount. This allows you to set any multiplier, making it a popular broker in Japan and one of the top brokers in the rankings. Although there are upper limits and risks for setting virtual currencies and FX currency pairs, you can trade with high leverage. You can earn money by using numbers, with the content of 500x or 1000x. You can also change it by clicking from the home page.
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