Procedures for brokers Banks, brokerages, and other financial service organizations have an essential role in identifying money laundering and other financial crimes. Know your customer (KYC) and anti-money laundering (AML) regulations require brokerages to verify the identity of all their clients and ensure that they don’t accept money that was obtained illegally. KYC and AML activities are often time-consuming for brokers and frustrating for new clients. The verification process and related due diligence can be especially slow if you work with international clients. However, the right tools can help speed… read more →
What we know about investors who trade Forex One of the best ways to make sure you’re giving your clients what you want is to make sure you know as much about them as possible. To help you understand more about forex traders, we dug through data from dozens of academic journals and banking institutions to bring you the research you need. This infographic shows some of the most interesting facts from The Retail Spot Foreign Exchange Market Structure and Participants by Dr. John Forman, a forex expert with a PhD whose… read more →
Tips for FX brokers opening in unregulated markets Financial regulatory authorities around the globe have increased their oversights of forex brokers and put more rules into place in the past few years. In response, many brokers have chosen to open branches in countries where regulations are less strenuous. If you’re considering opening a new brokerage or setting up a subsidiary firm in a new location, you may want to look at less-regulated markets. Less-regulated markets There are countries where no financial regulations exist and countries where there are simply fewer… read more →
8 Books to Succeed as a Forex Broker Here are our book recommendations for learning more about best practices in the financial services industries, especially when your clients’ portfolios include forex trades. 1. Crashed: How a Decade of Financial Crises Changed the World by Adam Tooze Who should read it: Anyone interested in the interconnectedness of global economies, including both experienced professionals and new traders. Why you should read it: It was named one of the New York Times’ notable books and one of The Economist’s Books of the Year in 2018. What it’s about: As the title… read more →
Tips for writing job advertisements for forex careers Finding good employees for your forex brokerage is an important task. Good employees help you attract new FX traders and retain existing clients. Searching for and hiring forex employees can be costly, so it’s essential that your hiring process be as efficient as possible. You’ll likely post ads online on job boards like Indeed. Keep reading for tips on writing job ads and some free templates for common roles. General tips Regardless of what role you need to fill, there are some… read more →