What is a FOREX Broker?
A FOREX broker is an intermediary that operates as a middleman between a trader and the market. By using a broker, retail clients are able to gain access to the financial markets which would not otherwise be possible. The majority of FOREX brokers provide traders with the opportunity to trade not just currency pairs, but other asset classes including indices, metals and energies.
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Establishing Your Company (Incorporation)
Most aspiring new forex brokers face the bigger challenges during the initial work and formalities required for the first time establishment of their company. The reason for this is that this initial phase entails the clarification of the legal framework under which the business will be governed, the establishment of corporate relationships with banks, prime brokers and other necessary service providers, as well as the very crucial step of mapping out and deciding on the brokerage’s own workflows and processes. Below are a few of the most important steps you should follow at the initial stage of setting up your own brokerage:
Register and get a license for your Forex brokerage company in an onshore or offshore jurisdiction, whose set of governing rules is compatible with your budget, the target market you have decided to focus on, as well as your own business’ specific requirements, goals and aspirations.
Open your corporate or business bank account, through which you will be servicing client deposits, as well as executing the financial aspect of company operations, though many jurisdictions demand that client funds are fully segregated. In any case due to the nature of the specific business, it is impossible to have a forex brokerage without access to a corporate bank account from a reputable banking institution.
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Choosing the Right Business Model for your Forex Brokerage
With a sleek and carefully designed UI, buying, selling, analysing, and managing your portfolio, everything's just a click away.
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Forex Web Design & Development
Manage positions in single window, manage Live open positions and open pending orders. Hundreds of indicators, studies, and tools on a powerful and customisable charting interface.
Forex CRM Solution
With a sleek and carefully designed UI, buying, selling, analysing, and managing your portfolio, everything's just a click away.
Easy to Customize Components
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Keeping Clients’ Funds Safe:
Open your corporate or business bank account, through which you will be servicing client deposits, as well as executing the financial aspect of company operations, though many jurisdictions demand that client funds are fully segregated. In any case due to the nature of the specific business, it is impossible to have a forex brokerage without access to a corporate bank account from a reputable banking institution.
Finding the right Liquidity Provider
Select a Transparent, fair, consistent execution delivers efficient market structure to all market participants, including funds, banks, proprietary trading firms, brokerages and asset managers.
Xtreme Next - Liquidity Hub with full reports and User Friendly interface. Connect any Liquidity provider with FIX API.
Partnering with a Payment Processor
Xtreme Pay - payment gateway for managing clients deposits and withdrawals.
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