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Starting as a FX-Broker,etc..

Discussion in 'Making Money' started by Durban, Aug 9, 2009.

  1. Durban

    Durban Newbie

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    Hello,

    what is it to start as online fx-broker agent,
    is it possible,just to start a website,and to
    connect with fx-market and let people seriously
    open accounts?
    The FX-Broker Software,etc..must work fully automatically?
    It was just an idea,what do you think about it?

    Thanks
    Durban:)
     
  2. learningmarketing

    learningmarketing BANNED BANNED

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    fx brokers make money if they have clients

    if you dont have clients then you have no value

    so you will work for minimum wage if thats the case or less due to the hours you need to work.


    only when you have your own client base do you have any leverage to negotiate anything.

    goodluck - this is my area of expertise.
     
  3. Durban

    Durban Newbie

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    no,i want to require the clients via the web..
    just starting over the net,it sound naive,
    but let us begin with a idea?!:prof01:
     
  4. kalekom

    kalekom Junior Member

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    To get started search for "White label forex".
     
  5. blackholesun

    blackholesun Newbie

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    Look up Forex Direct Dealer. FXDD as it's more known as. You need to in most cases with White Labels obtain a Series 3 securities license, Which might involve an education and test curve in order to produce a series 3 certification.

    Also remember with White Labels, most arrangements on the compensation end will be a share of pips from the buy/sell spread. for Example, an EUR/USD Currency Pair round lot that would cost $10 a pip with a 2 pip spread is $20. If you have a spread share agreement, which is either maybe half a pip at $5 or 50% rev share which would land you $10. Read the fine print and understand fully how you are compensated and what rights and understandings that you have in the terms and conditions of each broker-white label agreement.
     
  6. learningmarketing

    learningmarketing BANNED BANNED

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    well he is not going to white label a platform

    they only do that for people with clients and money because it costs money to set it up

    what they will do is offer banner advertising and an IB designation

    right now you dont have to have a series 3 but shortly you will have to have that

    you can be a guaranteed IB or non guaranteed

    non requires you to put up 30k

    anyway just from reading your initial post I dont have much confidence that you have any clue about the market - and its probably best for you and any potential clients to deal with someone who actually has does - because most people lose doing this. trading I mean.
     
  7. learningmarketing

    learningmarketing BANNED BANNED

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    as for FXDD forget it bucket shop

    if you want the best

    deutsche / citibank

    broker wise FXCM and then its a long way distant to anyone else

    GFT/IBFX/FXDD all suck dogs balls.


    anyone of those 3 (DB/citi/fxcm) will allow you to be an IB with various IB package rates depending how many clients you bring in and asset size... in accordance with NFA requirements.
     
  8. pinkystinkymailinatorcom

    pinkystinkymailinatorcom Junior Member

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    you must have 5000000$ to be registered with the NFA
     
  9. Durban

    Durban Newbie

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    thanks,for the replies,
    i just want to get an overwiew,
    and i see,it unpossible in my situation,
    thanks a lot..;)

    Best Regards
    Durban!:eek: