Overview of an Onfline FX Prop Firm
I became a franchise owner of a prop trade firm here in Ontario Canada with head office in France, and other offices in India, Italy, Serbia. I'm operating virtually at this point to mainly recruit day traders to trade forex and binary options and possibly stocks online. Was thinking I should find a firm or licensed Advisors to become a part of the company and create board of directors and incorporate other investment products that may be of interest to potential clients or at least have the support and backing to contribute to further growth and expansion.
Some hiccups I run into that prevent me from turning this into a full fledge brokerage is the hefty licensing fee involved which sits at $25k with Canadian Regulatory bodies like IIROC. I'm thinking outside the box that if I partner with a firm as an Agent and be sponsored under them, it should assist me in overcoming this obstacle of licensing issues.
There's some firms I've talked with overseas who do this, but one I am considering is a bit slow with bringing things to fruition and I'm not that confident that they can do what they say.
Is this something you can help with or can you provide any recommendations or direction?
I have a Ontario Corporation setup and a Federal Corporation setup and an LLC in Las Vegas wondering how I can tie these companies altogether for asset protection or cross-border partnership as well or create sub-franchises across Canada.