Starting as a FX-Broker,etc..

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

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.

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?!rof01:

To get started search for "White label forex".

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.

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.

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.

you must have 5000000$ to be registered with the NFA

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!