Forex Brokers ?
Sunday, July 4th, 2010 at
6:42 pm
Does anyone know what the steps are to starting a Forex broking company ?
Tagged with: Forex
Filed under: Forex Companies
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Don’t. Nobody actually makes money in Forex.
Being licenced to sell securities in your country would be a good start.
They just go to other forex websites and get a good idea of how they base their accounts.
All you really need is several million dollars of starting capital.
You will also need a provider of realtime streaming data, get a programmer to design you your own custom platform or use a pre-existing one like MT4.
Finally you will need a large liquid market that you can trade your own money to hedge against the trades of your customers, and an automatic program to impliment it.
If you have $10+ million dollars I think you are better off starting a casino.
You are talking about starting your own brokerage, not simply picking a forex broker to trade with as an individual, right?
check on this site, register to log in and inquire about how to become a Forex Portfolio manager. You can then set up your own Forex site. good luck in your business endeavors.
The most important factor to look for when choosing a FOREX broker is whether or not they’re regulated. Any U.S. based FOREX broker should be registered with the Commodity Futures Trading Commission (CFTC) and should also be a member of the National Futures Association (NFA).
You can visit the NFAs website and look up any FOREX broker you’re interested in.
Make sure you deal with a broker that has a clean record and has solid company financials. Any FOREX brokers that don’t meet either of these criteria should be stricken off your list of candidates!
I use interbankfx.
1. You need HIGH liquid money
2. You must get certification from your country security regulator
3. You must provide fast backup server to ensure price/quote feed is prompt.
4. Be Honest