IronFX overseas is primarily intended for individual users to open trading accounts, and this article will explain whether corporations can register and what the benefits are. They offer account types for individuals. However, some users would like a corporate account. IronFX also offers corporate accounts, but this cannot be done on the operation screen, so you will need to contact the support center to have them assist you.
What is a corporate account?
As the name suggests, a corporate account is an account that can be opened in the name of a corporation. Most Forex companies offer individual accounts, but some also offer corporate accounts to professional traders. By opening a corporate account, you can aim for tax savings, so you can expect certain benefits.
Advantages and disadvantages of opening a corporate account
The advantages and disadvantages of opening a corporate account are as follows:
Losses can be carried forward
If incorporated, FX losses can be carried forward for 10 years. In the case of a personal account, the carryover is about 3 years, so a corporate account is more advantageous. You have the option of canceling taxes on future profits by carrying forward losses.
Total profit and loss
If you run another business, you can add up your profits and losses. This is a great benefit for those who are considering incorporating multiple businesses. For individuals, it is calculated based on miscellaneous income from FX only, so it is impossible to add it up with other businesses.
There will be a cost
A corporate account has the disadvantage of having to establish a company. In addition to registration costs, there are maintenance costs such as filing various applications with administrative agencies and outsourcing accounting procedures. Therefore, if you don’t want to waste money, we recommend going private.
money cannot be used freely
As an individual, you can use the money you earn as you wish. However, corporate money cannot be used freely. Transparency is required in how funds are used. Transferring company money into and out of personal accounts may violate the law or result in tax evasion.
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How to open a corporate account
To open a corporate account, first open a personal account. Please refer to the article below for instructions on how to open a personal account.
Once you have opened a personal account, please prepare the documents required to open a corporate account. The documents include the following:
- articles of incorporation
- Certificate of all history items
- shareholder certificate
- Bank statement proving the address of the head office (within the past 6 months)
- Utility bill receipt (within the past 6 months)
- Valid identification documents for all directors (within 3 months of issue)
- Address certificate (within 3 months from issue)
Prepare your documents and request a corporate account at the support center. Then, IronFX will send you the contract documents. When the documents arrive, please sign the contract documents and submit the documents. Please refer to the article below for information on how to contact the support center.
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Frequently asked questions about corporate accounts
Please refer to the document that summarizes the questions about the procedure for corporate accounts. You can log in and apply for registration from the official website. Support is also substantial. Live platforms such as MT4 can be used, and the products (stocks, indexes, FX currency pairs, etc.) are the same, so it is advantageous. We also support three types of withdrawals, so we recommend it. When investing in finance, it is best to do it with the minimum amount of capital possible.
How many days does it take to open an account?
Opening a corporate account requires analogue processing. Visual inspection and document verification by support center staff is required. Therefore, it will take about two weeks to complete the account opening. You can trade a lot in the market with a wide range of functions by accessing the website and using the system from the mobile app. Of course, zero cut is adopted and there is no margin call.
Can I open multiple corporate accounts?
IronFX allows only one corporate account. Each person can only have one account. It also has futures and other attractive features. You can receive bonuses with the service. When you start, register under the name of the representative. You can now participate in trading events and contests with prizes, and rent a VPS. Click on the news to check it out.
Is there an examination for corporate accounts?
There is no screening by the operator when opening a corporate account. There is no screening, only document verification. Of course, if the documents are not complete, you cannot open an account. Also, customers who are residents of the United States or North Korea are not protected and are not eligible for support from the exchange. These residents should immediately look for other global exchanges.
At what age can I open a corporate account?
Corporate accounts are subject to the same conditions as personal accounts, and can be opened from the age of 18. Normally, if there are no problems with the investor, they will be approved. If profits are made, tax issues will arise, so expenses etc. must be recorded. You must select and open an account on our official website.
What are the trading conditions for corporate accounts?
At IronFX, you can trade with the same conditions for both corporate and personal accounts. The same applies to leverage and the zero cut condition. At IronFX, you can receive the same bonuses as individuals with corporate accounts.
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