How to open your own "forex" company?

[traderjo]

Won't the cost depend mainly on where you want to be regulated?
It will be very easy and cheap to be "Regulated " in Seychelles but then legally speaking can you market yourself in US? or other countries? "legally and openly " is the key word here.

Perhaps easier to be an IB of a Futures FCM and with micro contracts + Exchange traded options you can not only match the granularity of the OTC FX but offer more products like spreads/ Options etc

 

[pipeguy]

There are various prerequisites to open a forex brokerage firm – solid capital, legal conformity, time and effort. Yes, it requires a lot. You will have to abide by all the rules and procedures to incorporate yourself as a forex broker.

Following chain of steps can be used to set up your own forex brokerage firm:-

• Compare the legal requirements for various countries and then decide on where you want yo set up, depending on the ease of grant of license.
• Build up a good business plan for yourself. Don’t forget to include the start up capital amount, target markets, projected expenses, strategies, etc.
• The cost of setting up a forex firm is undoubtedly the major concern to handle. Make sure you are ready with the initial capital requirements for the business.
• Negotiate with various payment service providers and strike a deal with the stable ones, as you need a lot of them, to be safe in case one of them fails. For leverage options, contact a bank. This is a time consuming process.
• Create a website for yourself and decide on what trading platforms are you going to use.
• You cannot handle this business alone, so set up a system to inculcate various personals to help you with the idea.
• Test all your set ups before you actually go live and start your own firm. Allow sufficient time to train your staff to help them work efficiently.
• Once you are done with the above procedure, you are good to go. However, prefer to support your launch with a good marketing campaign.

How would you price such brokers like Hotforex, Tickmill or Exness?

 

[Witorishan]

too many resources need to be invested in such a thing, and it's not a fact that everything will go well and you will get any kind of success