Starting your own Forex MM

Quote from ssblack:

What you might consider is becoming a White Label for an existing firm? IE you use their platform and pay a one time fee (or bring a certain number of assets) and use them as the liquidity provider. Otherwise, I'm not really sure. I know it's not exactly what you asked though. :)
More...

It sounds like Ivanovich is simply interested in becoming a money manager, not offering broker services to others. Why would he need to become a white label?

Whatever the case, there are many firms with which you can set up such a managing account, and the big ones will often offer very easy ways to collect management fees and performance fees. And, if you do enough volume, you might get some of the shops to offer you rebates/discounted spreads on your trading.
 
Basically, yes. I'm looking to manage maybe 10-15 accounts, and charge a management fee. I'd need the service I use to be extremely reliable and extremely well reputable.

Essentially, that's it.
 
Quote from ssblack:

Call me crazy, but I'm pretty sure he listed that he wanted to become a market maker for his own clients...?
More...

Yep, he did. But he also goes on to mention that it will be strictly managed accounts, which would imply that none of his clients would actually trade their own money.

Whatever the case, if you're looking for a broker with which to set up a money management account, I would recommend looking at the bigger firms' "Introducing Broker" setups.

A quick google search will turn up a lot of the big names:

http://www.google.com/search?source=ig&hl=en&q=forex+introducing+broker&btnG=Google+Search
 
I apologize. I mentioned becoming an MM because I was not aware of any other way to do it. I don't want to simply open 10 accounts for people at some company like Oanda. But if there's another way to do it, all the better.
 
Quote from Ivanovich:

I apologize. I mentioned becoming an MM because I was not aware of any other way to do it. I don't want to simply open 10 accounts for people at some company like Oanda. But if there's another way to do it, all the better.
More...

Ivanovich,

As you mention Oanda, they launched their FXManager platform recently. The way it works is that you sign up for a manager account. All your 'clients' sign up for an individual account and allocate funds from their individual accounts to your manager account. You, as a manager, can then trade all funds allocated to the manager account.

As a manager you have control over who can participate and you can charge manager fees. The legal requirements are outlined at the following webpage. I don't think you need a series X for this, but you better check with Oanda to make sure.

https://fx1.oanda.com/ma/relationship.shtml

I would advice you to check the platform out carefully on the FXGame version of FXManager to see if it is what you are looking for.

https://fx1.oanda.com/ma/index.shtml

The downturn is that each client has to register their own account and allocate the funds. Maybe you can get around this requirement by consulting Oanda (i.e. you also manage the client accounts for each client).
 
Quote from TradingWise:

Ivanovich,

As you mention Oanda, they launched their FXManager platform recently. The way it works is that you sign up for a manager account. All your 'clients' sign up for an individual account and allocate funds from their individual accounts to your manager account. You, as a manager, can then trade all funds allocated to the manager account.

As a manager you have control over who can participate and you can charge manager fees. The legal requirements are outlined at the following webpage. I don't think you need a series X for this, but you better check with Oanda to make sure.

https://fx1.oanda.com/ma/relationship.shtml

I would advice you to check the platform out carefully on the FXGame version of FXManager to see if it is what you are looking for.

https://fx1.oanda.com/ma/index.shtml

The downturn is that each client has to register their own account and allocate the funds. Maybe you can get around this requirement by consulting Oanda (i.e. you also manage the client accounts for each client).
More...

FYI, I've looked into the FXManager. So far it looks very easy and very promising. They have a few bugs to work out, but I believe it will work for me, and I will believe it will work for anyone that wants to manage someone else's money easily.

The nice thing is that the way they are setting it up you don't Handle any money, you just get trading authority, and you deduct your fees from accounts. This makes it so that you do not have register as a CTA or anything else. Registration is completely voluntary for now.

I'm planning on opening up my own business with this platform. Already have several clients line up.
 
Quote from marketsurfer:

an FX hedge fund structure is cheap relatively and works nicely, here's some info to get you started:

http://www.capitalmanagementlaw.com/articles/startingaforexfund.html


http://www.capitalmanagementlaw.com/images/Currency_Trader_Article_on_Forex.pdf


good luck, surf
More...

From the first link:

"The whole process can be done in as little as 4 weeks, at a cost of around $10,000. In some cases, the cost is even less."

Man, I gotta find me some of these cheaper lawyers.... A securities lawyer who can put together a private placement for 10k has me drooling.
 
You must log in or register to reply here.
Back
Top