The daily turnover in the Forex market is 8 trillion. dollars. And this figure is growing rapidly. So working in this market is a promising occupation for many years to come. Of course, you can become a trader. But if you have certain money, at least about 50 thousand dollars, then it is much more promising to become a forex broker. Are you afraid of organizational difficulties? Our company Tobebroker will solve them for you and make you a turnkey brokerage company.
What you need to do to become a broker
Organizing a Forex brokerage company means solving several completely diverse tasks:
- legal;
- technological;
- marketing;
- organizational.
Let’s consider them in more detail.
Legal issues
Brokerage activity requires a license. To do this, you need to determine the region of your customers. After that, taking into account the region, choose the jurisdiction in which you need to obtain a license for brokerage activities. It often happens that the jurisdiction is chosen based on financial capabilities. Indeed, in this regard, the requirements are very different. From 20 million dollars for registration in the USA, up to 50 thousand dollars for registration in Vanuatu.
You also need to choose a bank and conclude a service agreement with it, choose a payment aggregator. And the same to conclude an agreement with them. And it is very important to find a liquidity provider with good cooperation conditions.
Of course, you can do all this yourself. But in this version, there are two unpleasant moments:
- Surely it will take much more time. And time for a broker is good money. After all, in a month you can easily recoup all our services. And you will save much more than a month with the help of our company.
- With a high probability, your independent choice by the country of obtaining the license, by the bank and by the payment aggregator will not be optimal. This means you are losing money again.
Technology issues
In order to be technically able to provide brokerage services, you must have:
- a site with personal accounts of users, connected payment systems and a trading platform, educational literature, technical support, etc.
- hosting, which will host this site;
- a trading platform through which traders will be able to buy and sell currencies.
Website development is a choice of CRM, development of corporate identity, logo, design, layout, creation of a mobile version. The effectiveness of the broker largely depends on the site. Therefore, it should be developed not only by a professional web developer, but by a web developer with experience in creating such web resources.
After developing the site, you need to configure it, connect the trading platform, payment systems.
Marketing issues
There is a license, there is a liquidity provider, an agreement has been signed with the bank, a payment aggregator has been selected. You can start! But traders are needed! How do I find them? Through online promotion. You need to involve SEO, contextual advertising, e-mail marketing, etc.
Our experts have developed an effective multi-stage (for start-up and further promotion) program to attract traders, which will allow you to quickly reach an acceptable level of income.
Organizational issues
A forex broker is not only about organizing the purchase and sale of currency by traders. This is also the selection of an office, the organization of the work of personnel, and first of all its selection – financiers, IT specialists, accountants, etc. Organization of document flow, accounting and tax reporting, depending on the jurisdiction of your company.
Conclusions
Creation of a brokerage company is a rather complicated process, since it is necessary to solve in a complex legal issues (moreover, in foreign jurisdictions), technical, financial. Our company Tobebroker has extensive experience in creating turnkey forex brokers. With us, all these issues will be resolved as soon as possible, without time and financial losses associated with various mistakes – in choosing the necessary jurisdiction, paperwork, development and promotion of the site. If you want to quickly and confidently start working as a forex broker, to avoid mistakes inherent in newcomers to this market, contact Tobebroker.
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