How to become Forex Broker?

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 licence at the U.S. Sercurity and Exchange Commission(SEC) if your lan to do business in U.S.( If you want to open and operate outside the U.S, request an information kit from your local financial authority).

    3. Opening a bank account within the jurisdiction to collect funds from clients.

    4. An application to receiving online payments, if you'will be accepting online funding.

    5. Preparation of legal documents, include dealing manuals& agreements, anti-money laudering policies, conflict of interest policies ect.

    6. Pay registration fees and meet minimum capital requirements for opening a brokerage business.

    7. Finding liquility partners, clearing company that will clear your trades,(A clearing company will look for your to deliver a certain trading volume per month)

      * Every step will include a set of documents to be prepared as well as qualifications to be passed. The package of requirement will depend on a  jurisdiction where you choose register your company.

      White Labels and IBs

      If you aren't ready to buy your own Trading platform license, you can stating with a White Labels or a IBs sollution from Prime broker(your Clearing company). As a White Labels you'll be offering trading services under your company name. A Prime broker will customize the interface and platform for you, so that you'll be running under your own logo.

      Your Prime broker will also arrange the trading server for the platform, and clearance of all clients'trade for you. You canalso leave the deposits and willdrawals for your Prime broker, sothat allyou need to do will be:marketing(to make new clients), and customer support(to keep those clients).

      As a White Label you'll able to customize your own fee structure dealing spreads to earn higher income.

       

      As an IBs(introducing broker) you'll be sending/referring clients to your Prime broker, where they will eventually open a trading account. As an IB your goal will be to refer as many clients to your Prime broker as possible, because it'll directly affectincome stream(commissions) you'll earn for each referred client.

      For this type of business you'll need no licensing or registration. Allyou'll have to do is to find and refer clients, which can be done via any website(most common way). word of mouth, including conferences and seminars, by utilizingown existing client base ect.

      Source:https://www.100forexbrokers.com/