Key takeaways
- Banking is often the slowest part of launching a brokerage.
- Recognised licences make onboarding far easier.
- Segregated client accounts are required in most regulated jurisdictions.
- Electronic money institutions and PSPs complement traditional banks.
What banks check
- The licence and regulator.
- Ownership and source of funds.
- Target markets and expected volumes.
- AML/CFT framework and compliance staff.
Which accounts you need
- Operating account for company funds.
- Segregated client money account(s).
- PSP accounts for cards and local payment methods.