Why Is A Forex Broker License In Labuan, Malaysia So Popular? – 4 Reasons to Consider Forex & Crypto Licensing in Labuan
4 Reasons to Consider a Money Broker License in Labuan, Malaysia
The regulatory landscape in the online forex industry can be likened to a rollercoaster ride, with plenty of twists, turns and surprises along the way. Jurisdictions which were popular only several years ago have basically shut their doors, while newer regions are constantly emerging. Over the past years especially, Labuan, Malaysia has gained massive popularity, now boasting over 70 regulated forex brokerages and cryptocurrency exchanges.
Today, we’ll explore 4 reasons why it makes sense to consider applying for a Money Broking license in Labuan, Malaysia:
#1. The Approval Period for a Forex Broker License in Labuan, Malaysia is Quite Fast
When it comes to the approval period for a forex broker license, it’s quite common to see applications approved after 9 months and in extreme cases 12 – 14 months (the average time in a region like Cyprus). Labuan, Malaysia happens to be an exception to this rule. A major advantage in applying for a forex broker license in Labuan is that the average approval time is roughly 6 months.
Given the above, We wish to highlight that the time frame quoted is contingent upon first receiving all required documentation. Having many years of experience in Labuan, we make the entire application process clear and easy to understand, which is a major advantage in partnering with Atomiq Consulting to obtain a forex broker license in Labuan, Malaysia.
#2. Labuan Malaysia Offers A Myriad of Banking Options
Banking happens to be one of the most challenging aspects for FX & CFD brokers, even licensed brokerages run into banking challenges. As each year passes, options are becoming even more difficult to come by. In fact, banking challenges aren’t exclusive to offshore brokerages: forex brokers regulated in Europe and other regions face similar difficulties. Because Labuan, Malaysia offers a variety of banking options to both new and existing brokers alike, many FX brokers are now seriously considering this region when evaluating forex broker license options.
#3. Labuan, Malaysia Offers Competitive Costs When Compared to Other Jurisdictions
Both capital requirements and ongoing costs are quite competitive when Labuan is compared to other global jurisdictions. For this reason, we often recommend Labuan, Malaysia to entrepreneurs interested in starting their own brokerages. Rather than paying exorbitant fees in other jurisdictions from the start, a license in Labuan is a great option for first time brokers as it has maintains a higher level of credibility when compared to offshore licenses and comes complete with full regulatory oversight.
#4. Labuan, Malaysia is Crypto Friendly
Recently, Labuan has begun offering crypto currency regulation, a rare case as the majority of licensed jurisdictions nowadays do not have a cross over in the FX space. FX brokers looking to expand into crypto can offer both licensing under one regulatory body, a major advantage.
Atomiq Consulting – Your Forex Broker Licensing Partner
Atomiq Consulting specializes in forex brokerage licensing, company formations and banking services for FX brokers. Our positive track record, global portfolio of clients, and industry knowledge make us the ideal partner for guidance with obtaining a forex broker license in Labuan, Malaysia.
If you are interested in applying for a money broker license in Labuan, Malaysia, don’t hesitate to contact us today to explore our services further!
Have a look at some of the additional services our clients have found to be helpful in the growth of their business.