In recent months, esoteric jurisdictions have been cropping up as consulting firms attempt to meet client demand for simple, easy to obtain forex broker licenses. We’ve begun to receive more requests about Nauru, a region that has no material resale value nor will provide access to legitimate banking options. In our opinion, Nauru is not a legitimate forex broker license as we’ll explain in today’s post.

Nauru is Not a Legitimate Forex License

Nauru is the tiniest island nation in the world and the 3rd smallest country on the globe, only the Vatican and Monaco are smaller than Nauru. For this reason it is not a legitimate financial hub nor a reputable jurisdiction for financial services. Like Comoros, Nauru is being used by consulting firms in order to make quick money at the detriment of the client.

Specifically, licenses in Nauru are currently being offered by the International Services Authority. We have done our own independent research where we inquired about this license with the Nauru Department of Justice and Border Control. We received the following response concerning the validity of this license: “We confirm that this website does not belong to any official organisation of the Government of Nauru. We also confirm there is no official organisation under the name of International Services Authority.” Should you wish to see the original email, please contact us team and we’ll gladly forward along a copy.

Workarounds like Comoros or Nauru will ultimately not be able to meet the minimum requirements that a forex broker requires to operate. There are no benefits to be gained on the banking front when applying for a forex broker license in Nauru. Furthermore, the license itself holds no reputational value yet consultants will charge thousands of dollars to help new brokers obtain it.

Alternative Options to a Nauru Forex Broker License

We primarily work with brokers in the start up phase of their business and understand the need to launch a company quickly. In our view one could achieve the same benefits that Nauru offers with a simple offshore registration. Not only would this option save money but the banking access would be the same. Additionally, we could also assist your group in applying for a legitimate forex broker license.

Atomiq Consulting – The Only Consultant to Offer Free Guidance with Obtaining a Nauru Forex License

We believe so strongly that Nauru is not a legitimate forex broker license that we will show you how to apply for the license free of charge. By arranging a call with one of our consultants, we’ll discuss alternatives to Nauru while also explaining how you can get this license without having to pay a consultant unnecessary fees. To learn more about this offer, don’t hesitate to contact us.