Online trading, working with inexperienced traders, and the global nature of the industry all make forex brokers’ work more complicated than that of other financial professionals. We’ve been in the FX industry for a long time, and we consistently hear about the same problems from forex brokers. This post covers the challenges forex brokers face and offers suggestions on how to solve them.
Choosing a custom forex broker solution If you’ve been successfully trading forex or working as an introducing broker for a while, you may be interested in starting your own forex trading business. Forex brokerages can be lucrative, and if you have experience with forex and connections in the community, you’re already off to a good start. Many companies offer advice on starting your own brokerage, and most of them present two options for doing so: starting a forex brokerage from scratch or buying a turnkey forex brokerage. If you start… read more →
In the last several years, forex brokers have experienced difficulty when trying to open bank accounts and merchant accounts for their businesses at Tier 1 institutions. Banks in countries with a strenuous regulatory environment turn away forex brokers as clients. There are a few options for holding your firm’s funds if you cannot get a corporate bank account for your forex brokerage. This post covers the pros and cons of a few of those options.
For forex brokers and other financial service providers, market research might include analyzing trading data to determine how often most investors execute a trade, using surveys to assess what tools traders use most often when making investment decisions, or interviewing traders about why they’ve left a trading firm in the past. Some market research is secondary, like this data we’ve presented before. In this blog, we’re focusing on how you can conduct primary market research, meaning you gather data and then draw conclusions based on it. Although you can hire… read more →
