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Start Forex Brokerage Company from the scratch


If you decide to open a brokerage company, then you are probably already familiar with the financial markets and may even have a successful investment experience, as this business is too specific for a man from the street. But even in this case, you are likely to have many questions about how to start, how to choose the right business model, how you avoid issues and where to save.

Let's put is straight, to create a brokerage company you need to do a lot of preparatory work: to develop a detailed business plan, to choose regulation and licensing, to create brand. The rest of the process can be roughly broken down into three major blocks:


Registration

At this stage, you register your company in a jurisdiction that is best suited for the business model of your broker, if necessary, get a license, open a bank account and connect payment systems. St. Vincent and the Grenadines or the Marshall Islands might be the jurisdictions of choice for an unregulated broker as they offer a good balance of prestige and comfortable conditions. If you plan to start with the license, consider Bulgaria as it combines all the benefits of European regulation at much lower cost than UK or Cyprus. This process may seem complicated and time-consuming because of the many legal nuances and a lot of red tape, so it might be wise to delegate it to specialists. Should you decide doing it yourself, we recommend to study all regulatory requirements, prepare a package of documents and be patient.


Creating of IT infrastructure

Once all the legal formalities are settled, you can start creating the IT infrastructure. Basically you need to choose a trading platform and liquidity provider. White Label which includes MetaTrader 4 and MetaTrader 5 trading servers and the DMA-liquidity is the optimal solution for a novice forex broker. This will get you started fast and without significant expenses.


Finishing touches

At this stage, the brokerage company is almost ready to go. It remains to create an informative website and easy to use Client Area. These are not just branding tools, and in fact, they are the main channel of communication between broker and trader. Make sure that clients feel comfortable and they will stay with you.


That's all it takes to become a forex broker. Later, you may consider connecting CRM system for sales channels optimization and expanding the range of products and services to attract new customers.


Mikulyak Evgeniya, COO B2Broker

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