- MetaQuotes recommends a legal opinion on the jurisdiction where you set up your company.
- It is required in practice when your Memorandum does not clearly list trading activities.
- For Saint Lucia, it confirms the company may conduct online forex, brokerage and financial services.
- It is issued by local counsel, typically within about a week.
What a legal opinion is
A legal opinion (or representation letter) is a formal letter from a lawyer qualified in the company’s jurisdiction. It confirms facts about the company and its lawful activities. For an MT5 application, it addresses item 8 of MetaQuotes’ checklist: a document confirming that the company is lawfully entitled to offer trading services in financial markets.
Why MetaQuotes asks for it
MetaQuotes requires applicants to operate in trading of financial instruments, online forex, or brokerage and financial services, and it recommends a legal opinion for the chosen country. It usually accepts the Memorandum as proof of activities, but if the objects are missing or very general, a representation letter or legal opinion from a local lawyer or agent is the accepted alternative.
What it should confirm for a Saint Lucia IBC
- The company is duly incorporated and in existence.
- It may conduct online forex trading, brokerage and financial services activities.
- The position regarding local licensing for clients outside Saint Lucia and CARICOM.
The wording must match your actual business model. Tell counsel exactly what you do.
How to get one
We arrange legal opinions from Saint Lucia counsel as part of our MT5 Ready package, or separately for existing Saint Lucia companies. Once the company’s documents are in order, it is generally issued within about a week.
Frequently asked questions
Is a legal opinion mandatory for MT5?
MetaQuotes recommends it, and in practice it is needed whenever the Memorandum does not clearly name trading or financial services activities.
Can my existing company get one?
Yes, if it is a Saint Lucia company in good order. We can arrange an opinion for an existing entity.