Most HF Markets accounts are private. However, HF markets allows you to open a corporate account. However, unlike opening a personal account, it takes a lot of time and effort, and you will need to prepare documents.
- Account opening method and procedure
- Procedures different from opening a personal account
- Documents to be submitted
- Corporate account features
Account opening method and procedure
In fact, the method and procedure for opening a corporate account is no different from the procedure for opening an individual account. Most of the steps are exactly the same, only the operating method is slightly different. Overseas FX brokers such as exness, axiory, fbs, traderstrust, milton, bigboss, easymarkets, and xm have high leverage and the content on their official websites is also extensive. In order to be validated, you will need to pass a document screening process. Please refer to the article below. Once you have successfully logged in, a password will be issued.
High maximum leverage
The maximum leverage is 2000x, allowing for quite high leverage trades. There are no execution rejections, and scalping and automatic trading EA functions are also permitted. It is also attractive that various platforms such as MT4 and MT5 are offered. Transaction history can be downloaded for tax saving measures.
Perfect security measures
It is important to ensure that security measures are in place, rather than relying on a family member or other agent to trade on your behalf.You can only trade if you create a profile, create a photo, and verify your documents (My Number Card or Passport) to be authenticated and approved. It is solid in terms of safety and reliability. Password settings are also managed securely using lowercase and uppercase letters.
Full of bonuses and campaigns
The latest bonuses, campaigns, and points are quite substantial. Since it has a cushion function, you can trade the margin with just a bonus. Furthermore, a loss cut level is also set, and a zero cut rule will be applied when the balance is exhausted. It is also possible to incorporate and create a corporate account.
Procedures different from opening a personal account
The difference from the procedure for opening an individual account is that in the case of a corporation, you need to select the corporation on the tab in advance. When you click below, the following screen will appear. Click “Open Account”. The disadvantage is that there are many procedures to upload the certificates of submitted documents.
The following screen will be displayed, so please select “Corporation”. This is the only point to watch out for. Be careful not to select “Individual”. The rest of the steps are the same as for individuals.
Documents to be submitted
The documents to be submitted are decisively different from opening a personal account. In the case of a personal account, it was OK only to submit ID and address confirmation documents. However, a corporate account cannot be opened by itself.
certified copy of register
A certified copy of the company register is an absolutely necessary document for opening an account. This document will be issued when you go to the Legal Affairs Bureau.
articles of incorporation
You must also file the articles of incorporation of the company. This is also a required document to be submitted, and if there is no articles of incorporation, it is necessary to go to the Legal Affairs Bureau and apply for inspection, or go to the notary public office and apply for a certified copy.
You will need a list of shareholder registers. This document should be prepared using Word or Excel. However, documents must be submitted with the seals or signatures of all shareholders.
Identity verification documents of officers
A corporate account will also require identification of the representative or officer. Not only representatives, but all executive level documents will be required.
Officer address verification documents
A corporate account will also require proof of address for the representative or officer. Not only representatives, but all executive level documents will be required.
Corporate account features
The characteristics of corporate accounts are the same as those of personal accounts in transaction conditions, but they are characterized by a large difference in measures such as taxes.
terms of trade
In the case of a corporate account, the terms and conditions of transactions are exactly the same as those of a personal account. Since the conditions are the same, you may not feel much benefit.
There is a risk that the money earned in a personal account will basically become miscellaneous income and the tax rate will rise. However, by creating a corporate account, the tax rate will be lower, profit and loss can be combined and carried forward, and the range of expenses that can be used will increase.
Scope of expenses
Corporate accounts have a much wider range of expenses. In the case of a corporate account, entertainment expenses and business trip expenses will be included in addition to expenses. Retirement allowances, life insurance premiums, business trip expenses, etc. can be recorded as expenses that cannot be recorded in personal accounts.
profit and loss
If you have a corporate account, you can combine other income such as real estate income and business income with profit and loss. The range of profit and loss that can be aggregated in a personal account is only the profit and loss of miscellaneous income such as profit and loss and affiliate income.
loss carry forward
Individuals cannot carry forward losses. However, corporate accounts can carry forward losses for up to 10 years. If there is a loss, it will be a great advantage because it can be offset with the profit in the remaining 10 years.
Pay taxes even if you’re in the deficit
Individuals do not pay taxes if they do not make a profit. In the case of corporations, the payment of corporate inhabitant tax is required even if the annual profit and loss is in the red. In addition, most corporations hire a tax accountant, so they also have to pay tax accountant fees.
If you open a corporate account, you will need to file a financial statement. Many companies hire tax accountants because the process is more complicated than filing individual tax returns. In the case of corporations, tax audits may occur once every five years.