Starting a brokerage company is an opportunity to create your own high-margin business. However, the process of starting a project will require you to study the details and nuances of the brokerage business.
There are two main ways to start a business for aspiring entrepreneurs:
⚪ Open a brokerage business from scratch
⚪ Using White Label solution
Today, we will consider both options so that you can choose the one that best suits your budget, goals, and objectives.
Broker from Scratch
First of all, you need to register a company in one of the jurisdictions and open a bank account. The choice of jurisdiction is a fundamental issue at the stage of company registration. Choose a jurisdiction that will allow you to provide services in the desired region.
When choosing a country of jurisdiction, you need to consider the nuances of opening a bank account. Keep in mind that far from every bank may allow opening an account for a company providing Forex broker services.
FACT! The lack of a bank account makes it impossible for customers to receive or send payments.
To summarize all of the above, starting a brokerage business from scratch can take too much time and effort and cost you a lot of money.
Launching Your Own Brokerage Project
The step-by-step algorithm for starting a business brokerage company is as follows:
⚪ Study your target audience. First, you need to define your target market. Study the available jurisdictions for registering a Forex business. Check the legal nuances of obtaining a license. Pay special attention to offshore jurisdictions.
⚪ Choice of payment solutions. Payment processing is carried out using payment services. Choose the most popular providers in the region where you provide services. Next, integrate them into the official website, client area, trading platform, or CRM.
⚪ Selection and configuration of software. You will need to use the services of an experienced integrator company that offers specialized software for the brokerage. Profit Center FX is a professional broker software integrator with many years of experience and 200+ brokerage projects launched. The firm also conducts testing and integration of all components of the software package.
White Label Solution
This is an easier and faster way to start a brokerage business. Aspiring entrepreneurs can take advantage of a top brokerage brand solution – the Forex White Label. Simply put, a widely-known broker will perform all trading operations.
This solution also assumes the lowest possible operating costs and no strict start-up capital requirements. As stated earlier, you do not need to process trades.
On the other hand, starting a brokerage business with a White Label is not a free service. Large brokers typically require their White Label partners to cover various commissions.
Each of the ways to start a brokerage business has its hits and misses. For example, unlike White Label, brokers who have created their projects have complete control over the company. In this case, you do not need to share profits or commit to paying commissions.
It is best to contact Profit Center FX to optimize costs and start a brokerage company. You can entirely rely on the experience and knowledge of specialists who have launched dozens of successful brokerage projects.
Profit Center FX is a specialized software developer. The company has a unique turnkey solution – a real chance to start a brokerage in 3 weeks!