How to open your own "forex" company?

Discussion in 'Forex Brokers' started by mikelkenneth, Nov 24, 2009.

  1. Panaforex


    Most licenses are above 40K. for a start up you could become an IB for a broker and take advantage of all their support and customer service. Some White Labels even get you a page wih your company name on it.
    #11     Dec 19, 2009
  2. Can't believed last post was 10 years ago. anyone interested making one? I saw that many firms offer WL program in UK. Is it legal in the US? thanks.
    #12     Mar 6, 2019
  3. I know that MT4 or MT5 are costing $ 100,000. I also met an advertisement for the sale of a ready-made brokerage company for $ 150,000
    #13     Apr 10, 2019
  4. pipeguy


    Too expensive. I doubt this industry would thrive to such extent (with many small unknown brokers with website design from past decade) with so expensive software.

    And Yes white label is best option to trade if you are new to this.Tickmill, Hotforex, Exness, IB all big brokers offer this option.
    #14     May 9, 2019
    kventin.upgrade likes this.
  5. I would not call the sum of 100-200 000 too expensive to open a highly profitable business
    #15     May 12, 2019
  6. pipeguy


    What is your ROE estimates for a medium forex company? Would be interesting to hear your opinion.
    #16     May 13, 2019
    kventin.upgrade likes this.
  7. I think that informally this may be 400% -1000%, and officially not exceed 100%
    #17     May 13, 2019
  8. pipeguy


    Omg, this includes b-booking activity right? I doubt its possible only one spreads and commissions
    #18     May 14, 2019
  9. Masil


    Alot is involved. I can confirm that mt4 license is around 100 - 150 thousands dollar, and then there is the pro website, vps hosting, marketing, staffs and more. It is expensive in my opinion.
    #19     May 27, 2019
  10. There are various prerequisites to open a forex brokerage firm – solid capital, legal conformity, time and effort. Yes, it requires a lot. You will have to abide by all the rules and procedures to incorporate yourself as a forex broker.

    Following chain of steps can be used to set up your own forex brokerage firm:-

    • Compare the legal requirements for various countries and then decide on where you want yo set up, depending on the ease of grant of license.
    • Build up a good business plan for yourself. Don’t forget to include the start up capital amount, target markets, projected expenses, strategies, etc.
    • The cost of setting up a forex firm is undoubtedly the major concern to handle. Make sure you are ready with the initial capital requirements for the business.
    • Negotiate with various payment service providers and strike a deal with the stable ones, as you need a lot of them, to be safe in case one of them fails. For leverage options, contact a bank. This is a time consuming process.
    • Create a website for yourself and decide on what trading platforms are you going to use.
    • You cannot handle this business alone, so set up a system to inculcate various personals to help you with the idea.
    • Test all your set ups before you actually go live and start your own firm. Allow sufficient time to train your staff to help them work efficiently.
    • Once you are done with the above procedure, you are good to go. However, prefer to support your launch with a good marketing campaign.
    #20     Jul 11, 2019