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Your knowledge source to boost your business and gain new clients.

Where Should I Open My Forex Brokerage?

Where Should I Open My Forex Brokerage?“Location, location, location”- a well-known known expression when it comes to real estate. The same applies to a brokerage, although it does not have the same importance. However, it does affect how you will conduct your business. For the most part, the location of a brokerage company defines how it is regulated. Compliance with the laws and regulators is a common head spinner for all great business ideas. Yet for a brokerage, compliance with regulators also has a positive effect since it gives clients confidence about the safety and security of their trading capital as well as the peace of mind of the legitimacy of the brokerage. The decision of which jurisdiction to open your forex brokerage in is a balance between brokerage freedom, marketing, available resources, and more. In this article, we will discuss the ingredients about regulation, brokerage location, and all the things in between. Globalization is very much a factor for any online business. With the right technical support, you do not even have to have a real, physical office. The list that we need to address when choosing a location is getting longer, but we should never lose sight of our ultimate goal. Let's start with the regulators and the areas they cover, starting with the most demanding ones.

Liquidity Providers 101: Everything You Need to Know When Opening Your Brokerage

You’ve made the decision to launch a brokerage. Maybe you have thought about what you want to offer, possibly some brand names, where you want to operate from, and some innovative features to give your business a strong USP. You might have selected which trading platforms you will offer, or you are still investigating, but the one area that needs special consideration is liquidity. Liquidity is the lifeblood of any brokerage and without it, even if you have the best site, great service, and thousands of new traders ready and lined up, it will be tough to achieve success. Let’s take a look at some key concepts related to liquidity and then we can explore why choosing the right liquidity provider can mean the difference between success and failure. While this article focuses on new brokerages, the information is just as relevant to existing brokerages.

A Book or B Book – Which Should I Choose For My Brokerage Business?

You are carefully planning your business. A great sign since success starts with preparation. In your case, this is a business plan for a brokerage. It is interesting how the forex industry has a placeholder for running a brokerage business. That is how the definition of A Book or B Book broker types emerged, even though there are blends, in-between types, that can truly fit the success of your brokerage. These two models explain the general outline of how brokerages deal with the trades, how they are executed, and what it all means for your business. Your ideas to bring value to your clients and compete with other brokerages makes all the definitions irrelevant. At the end of the day, you will probably forget which business models stand for A Book or B Book and you will come back to this article. However, understanding how brokerages run nowadays is of paramount importance. Later on, your brand will evolve, sustain its advantage and cope with challenges. But in the beginning, setting the business model according to the marketing mix will considerably reduce your risk. If you are just here for the definition, the next two paragraphs explain the inner workings of each model. Later on, we summarize the risks inherent to every business and the differences.

7 Must-have Features in a Forex Broker CRM

There is no denying that the internet has transformed the way we live, work, play, invest, and more. One of the biggest changes that the internet has brought about is how people invest their money. With the plethora of online trading and investment services and apps, the average person is now able to invest, trade, and manage their portfolios on their own. This has led to a huge demand for reliable and reputable online forex and CFD brokers. Essentially, the products provided by brokers are very similar. For example, most brokers offer access to trade the same underlying assets, such as the EURUSD currency or common stock CFDs. As such, brokers now have to focus on service and the customer experience in order to differentiate themselves from their competitors. What this means is that brokers need robust and comprehensive back-office applications and tools to streamline their services and add value for their customers. While customer relationship management solutions, aka CRM, are not a new concept, many brokers have taken off-the-shelf or generic CRM platforms and have customized them to their specific needs. While this is certainly doable, its time consuming and expensive, plus every time the broker wants a new feature, it requires new development, testing, debugging, and more. The fact is, as a broker, you want to focus on your clients and not on software development. On the flip side of this, many brokers end up having to adapt their business processes or make workarounds to fit the limitations of the CRM software which is never a good plan. This is why the need for purpose-built FX broker CRM solutions, like Proftit, have taken centre stage in recent years. In this article, we will explore 7 must-have features in a forex broker CRM, so let’s dive right in.