If you have decided to invest time and money to become a Forex broker, the following information will help you get started.
Your new brokerage company set-up plan would include:
1. Registration of your company in a local or offshore jurisdiction.
2. Application for a Forex broker license at the U.S. Security and Exchange Commission (SEC) if you plan to do business in US.
(If you want to open and operate outside the US, request an information kit from your local financial authority).
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trader
February 5, 2012The best broker? This site doesn't rate brokers.
Try this one instead: http://www.leadingforexbrokers.com/
trader
March 20, 2012There are already some great companies out there that will basically start a brokerage for you. Leverate got some great reviews leverate.com and there's also Panda (not sure what their site it). They all offer different products. Just make sure their private label offering has everything you need... like a web trader, mobile trader, liquidity provider etc.
Supriyo Mahalanobis
May 20, 2012I am interesting for working as a Forex broker. How to become a Forex broker ? I am a LICI's Agent and a Mutual Fund Broker.
Supriyo Mahalanobis
Email-supriyomahalanobis@gmail.com
trader
May 20, 2012You need to look for White Label Forex solutions, such as:
http://www.integral.com/
trader
June 7, 2012Hi, Wow...wonderful site.
Lots of useful information here. Not sure if you know the answer to this, but I was wondering if you know any firms I can sign up with as an Introducing Broker that (not white labeling) that :
a. pays commission on volume for both Forex & Futures (Forex/Futures is a must...but out of curiosity, do US equity brokers provide similar volume based fees as well?)
b. ability to enter OCO orders that reside on the server (ie. if you enter the order, the 'client' computer doesn't have to remain 'on' for the order to be tracked an executed)
c. has global offices to cater for clients wishing to open accounts from anywhere in the world.
Would be great if you have any recommendations on this.
Many thanks.
BrokerGuru
June 7, 2012Thank you for the feedback!
We won't be able to recommend/give names of specific brokers, as our policy requires us to remain fully unbiased.
However, for your goals you'll need to look for brokers who are at least 7-10 years in business.
They will provide stable and guaranteed rewards with many flexible options to chose from. They also have the largest base of IBs and a large number of offices worldwide, which is an important factor too.
trader
June 26, 2012Dear BrokerGuru,
Can you tell me the difference between Clearing House and Broker House. Please tell me !
Thank you
BrokerGuru
June 26, 2012there is no difference.
trader
July 3, 2012Please provide a complete details on becoming a forex trader from a to z , with its costing , thanks
BrokerGuru
July 3, 2012A - you need to study trading. This can easily be done online with the vast number of online resources teaching the basics. If you're totally new to Forex, you can even start with this basic school: http://www.babypips.com/school/
B - start trading on a demo account. Demo accounts don't require any deposits. On this account you'll test your skills and knowledge received while studying.
C - in order to start trading with real money you don't need lots of capital. Nowadays, you can find brokers that offer even so called "Cent accounts", where you can trade with cents (http://www.100forexbrokers.com/mini-micro-accounts-comparison Scroll down tot he bottom of the article to find a list of brokers who offer Cents accounts).
You can invest anywhere from $10 to $1000 or $10,000 depending on your skills and the risks you're willing to take.
D ... Z - that's all the costs. If you've got what it takes to become a succesful trader, you'll earn money, but if your skills aren't strong enough, you'll lose a few first deposits before making any profits. That will be the only cost of your trading. Good luck!
trader
July 8, 2012I am trader who can do volumes and make a big investment, but Can I set up a seperate firm (brokerage house) privately and have a tie up with liquidity providers.
BrokerGuru
July 9, 2012The short answer: Yes, you can.
The long answer: Depends if you'll be able to find liquidity providers. They will want to see high volume. If you alone won't be able to generate this trading volume, then it's also an option to create a group of traders/investors to meet these goals.
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