Since FXGT has a corporate account, we will explain the required documents, procedures, and precautions for account registration in this article. However, there is no form at all on the website that says “Open a corporate account.” Therefore, the procedure for opening an individual account is the same. The process will change midway through.
What is a corporate account?
A corporate account is an account in which the account holder is a corporation, unlike a personal account in an individual’s name. If you trade with a corporate account, you will be subject to “corporate tax” instead of income tax. Furthermore, if you have not yet started a company, you will have to start one in the first place. There are advantages and disadvantages to opening a corporate account, as follows. There are the following advantages to registering for overseas FX, and it is recommended. The fees are low, and bank accounts are also handled. Use this as a reference when making your selection later. Bonuses are also given, and you can manage leverage and other matters from home.
profit and loss
By creating a corporate account, profit and loss can be combined with businesses other than Forex, so it is a tax saving measure for those who run a company or who are starting a business. Profit and loss is the offsetting of profits and losses over a period of time. If there is a loss in the transaction, the profit and loss summation will subtract the loss in the trade from the profit earned in other businesses, so the tax on the reduced profit will be less.
can afford
By creating a corporate account, you can spread your expenses and save tax. If you have a corporate account, you can include expenses such as rent and executive compensation, expanding the range of expenses. Therefore, it will be quite easy because you will be able to drop it as an expense.
corporate business tax
If you trade on a corporate account, you will have to pay corporate tax on your profits. In addition, there are more types of tax due to incorporation than transactions with personal accounts, such as corporate inhabitant tax and corporate business tax, which is a tax on the region for running a business.
Maximum tax rate
This depends on the tax system, so it depends on the country, but if you create a corporate account, the maximum tax rate will be lower. If you are trading in a personal account, the profits you earn from trading are subject to comprehensive taxation, so income tax will be charged by adding them to other income such as salary income.
There will be a cost
In order to establish a corporation, you must prepare a large amount of money. Although it varies depending on the type of company, there are always costs associated with establishment. In addition, the company registration process not only costs money but also time. In order to operate as a company, we also need funds to outsource accounting processing and submit applications to various institutions.
Difficult to use profits freely
When trading FX with a corporate account, it is necessary to ensure transparency of funds. Therefore, unlike personal transactions, you cannot freely use the money in your account. As an individual, you can use your funds as you wish, but with a corporate account, it is difficult to do so.
Unsettled positions are also taxable
In corporate accounts, unclosed positions are also taxed. It is not possible to carry over unrealized profits without settling them at the time of closing.
How to open a corporate account and procedures
The method and procedure for opening a corporate account is the same as for an individual account. Please refer to the article below to get started by opening an account. This article will explain everything from activating your account. In other words, from the point of account activation, the method changes for corporate accounts. Please enter the information in lowercase or uppercase letters, numbers, or Roman letters. Please prepare your license and articles of incorporation in advance as you will be required to do so.
Once you have created an account, it will be time to authenticate your account. The key points are as follows. Prepare to submit your personal information. Please also check the terms and conditions now.
ID and proof of address
To open a corporate account, you must submit the documents of the representative director. In other words, it is necessary to submit the certificate of the representative of the company, not the personal thing. There is no problem with images taken with a smartphone or the like.
| required documents | conditions |
| Copy of register or certificate of incorporation | Registered copy of corporation establishment certificate |
| Identity verification documents of representative director | passport driver’s license My number card Other identity verification documents |
| Documents confirming the current address of the representative director | Resident card issued within 6 months Utility bill statement issued within the last 6 months |
| Director registration form | Complete history certificate issued within 6 months |
| shareholder list | Complete history certificate issued within 6 months |
Various corporate certificates
Certificates of incorporation may include shareholder certificates, officer certificates, incorporation certificates, and even certificates of all historical matters. Have all your documents ready.
Points to note when uploading
There are some things to keep in mind when uploading representative identity verification documents. Please pay attention to the following points. It is important that your name, phone number, etc. are visible on the page. Also, make sure to include your date of birth, postal code, city, and other status information before sending.
- is the original
- is in color
- Four corners are shown
- There are no hidden parts
- I have a photo of myself
Contact support center
Finally, if you have uploaded the required documents, please contact the support center. This requires an analog response, as procedures for corporate accounts cannot be performed on the system. Let’s tell FXGT support that you want to open a corporate account on the inquiry screen. The staff will ask you to submit the necessary documents for incorporation, so please respond accordingly. If the application is successful, the opening of the corporate account will be completed.
Points to note about FXGT corporate accounts
Please note the following points when using an FXGT corporate account. Since you can trade with MT4 or MT5, the conditions and settings are almost the same as for individuals. Easy click to order. A login ID and password are both required to log in to the page.
Turn your personal account into a corporate account
In the case of a corporate account, as explained above, simply opening an account does not make it a corporate account. Also, users cannot create a corporate account on the operation screen. To open a corporate account with FXGT, you need to contact the support center. Although it is not possible to create multiple accounts 100%, you can create multiple accounts.
maximum leverage
The maximum leverage for corporate accounts is the same as for personal accounts. FXGT has a maximum leverage of 1000x. You can also log in and download past transaction history and position history from the tools on my page. It serves as proof of income and can be prepared and used for tax returns. It can also be used for board resolutions, invoices, etc.
Bonus applies
In the case of an FXGT corporate account, a luxurious bonus is basically applied even if it is your first time. However, professional accounts and ECN accounts are not eligible for bonuses. This point is exactly the same as a personal account. Applies to mini, Crypto max, and standard. There are also leverages of 500x and 1000x. It is also possible to trade Bitcoin (virtual currency).
Use of corporate and personal accounts
Corporate accounts and personal accounts must be separated. However, you can also have one corporate account and one personal account. Since corporations and individuals have separate personalities, simultaneous operations are possible. Accounts and email addresses must be separated for corporate and personal use. The advantage is that you can trade even from your smartphone and receive bonuses.
Use by persons under 18 years of age
It is the same as a regular account, but a corporate account cannot be used by anyone under the age of 18. Of course, registration itself is also prohibited. Please note that you will not be able to open one even if you have the consent of your family. Citizens under the age of 18 are not authorized to use the service, even if requested.
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