FTMO - Setting up a UK Business Bank Account

[MichaelJohnFX]

For those who trade under FTMO or any other "prop firm"...I've recently just become a 'funded' trader and i'm trying to set up a business bank account through my limited company. I've tried Revolut and Starling bank, but have been rejected on both occassions. I think it's because these banks don't recognise the services that FTMO etc provide. Has anyone had any luck setting up a UK business account for this line of work / contracting?

Thanks!

 

[Inquisitor]

The "Challenger" banks which Starling and Revolut both are do not allow accounts that in any way can be considered speculative in nature. They will also close accounts that are already being used by customers if they try and use them for anything to do with Bitcoin.

Try a more traditional high street bank as you should have better success.

 

[MichaelJohnFX]

The "Challenger" banks which Starling and Revolut both are do not allow accounts that in any way can be considered speculative in nature. They will also close accounts that are already being used by customers if they try and use them for anything to do with Bitcoin.

Try a more traditional high street bank as you should have better success.

Awesome - thanks for your help! Much appreciated. I've just tried with my current account (Santander) - will post back in here re. what they come back with.

 

[ffsear]

I use Metro Bank , business account

 

[MichaelJohnFX]

I use Metro Bank , business account

So i just tried with Santander and i got rejected. They said they "don't do foreign exchange trading". This is really annoying. How did you declare this for metro? DM if required...I've tried 3/4 different banks now (challenger and retail) no luck.

 

[ffsear]

I'm a "marketing consultant"

 

[trilobite]

I'm a "marketing consultant"

Does mean you consult the markets to make an income, nice one!

 

[icek4ys]

Hi were you able to find a solution to this I’m currently facing the same problem

 

[MoxinFutures]

Honestly when dealing with anything more than £1000 I would steer clear of these alternative banks

I've heard many stories from people getting their accounts closed for various reasons, reasons don't make any sense beyond the fact they just don't want to deal with you

What did you settle on as your solution in the end?