To open a bank account for a forex brokerage, you usually need a licensed company first, then you apply to banks or electronic money institutions (EMIs) that accept forex and CFD businesses. Expect enhanced due diligence: licence and corporate documents, ownership and source-of-funds evidence, a business plan, AML/KYC policies, target countries and expected volumes. Most brokers keep separate operating and segregated client-money accounts, and use more than one banking partner to reduce the risk of an account being closed.
- Banks treat forex brokers as high-risk, so expect enhanced due diligence.
- A licence, clear ownership and strong AML policies are the keys to approval.
- Keep operating funds and client money in separate, segregated accounts.
- EMIs and specialist banks are often more open to brokers than retail banks.
- Use more than one banking and payment partner.
Looking for payments and KYC? Payment providers and KYC connected to your CRM, with reconciliation.
Banking is one of the hardest parts of launching a brokerage. Many banks avoid forex and CFD businesses because of fraud and money-laundering risks. With the right preparation, you can still get approved. Here is how.
Why banks see brokers as high-risk
- Large volumes of cross-border payments.
- Card chargebacks and payment fraud.
- Past cases of unlicensed or fraudulent brokers.
- Complex ownership structures.
Your options
| Option | Pros | Cons |
|---|---|---|
| Traditional bank | Strong credibility, suitable for client money | Slow, strict, may refuse brokers |
| Specialist bank in a financial centre | Understands brokers | Higher fees, minimum balances |
| Electronic money institution (EMI) | Faster onboarding, multi-currency | Check whether it can hold safeguarded client funds and its stability |
| Payment service providers | Accept client deposits by card and local methods | Not a replacement for a bank account; reserves and fees apply |
Documents banks usually ask for
- Licence or proof of the licence application.
- Certificate of incorporation, constitution and registers of directors and shareholders.
- Identity and address documents for directors and beneficial owners.
- Source of funds and source of wealth evidence.
- Business plan with target countries, products and expected volumes.
- AML/KYC, risk and complaints policies.
- Details of your technology, liquidity and payment providers.
Segregated client accounts
Most regulators require client money to be kept separate from the broker's own money. In practice you hold an operating account for company funds and one or more client accounts, and reconcile them daily with trading balances. Your back office and CRM should support that reconciliation.
Tips to get approved
- Apply after, or alongside, your licence, not before.
- Keep the ownership structure simple and transparent.
- Show strong compliance: an MLRO, written policies and KYC technology; see KYC and AML.
- Be realistic about volumes and countries.
- Avoid high-risk or sanctioned markets the bank cannot accept.
- Work with banks familiar with your licence jurisdiction.
Connecting payments
Client deposits usually come through payment providers that settle into your accounts. Read high-risk payment gateways for forex and see our payments and KYC integrations.
General information reviewed November 2026, not legal, tax or investment advice. Figures and rules change; confirm with the regulator or qualified counsel before relying on them. MetaTrader is a trademark of MetaQuotes Ltd.