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Starting Your Own Forex Brokerage in 2019? Hacks to succeed

Youu2019re probably here because youu2019re considering opening a forex brokerage. So what makes this business so appealing after all?<br><br>Mail us at sales@sanfrix.com

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Starting Your Own Forex Brokerage in 2019? Hacks to succeed

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  1. Starting Your Own Forex Brokerage? Steps & Hacks to Succeed

  2. You’re not the only one considering opening a forex brokerage with the rise in the number of traders.The more traders there are, the more brokers they need, which makes this 3 trillion dollars a day industry so attractive! However, the sheer number of forex brokerages available today is astounding. A quick search online throws a result of hundreds of brokers people can choose from. Unfortunately, this also means, there are plenty of unreliable forex brokers who make several promises they cannot keep and they end up burning the customers’ capital and eventually lose customers.So, how can brokerages remain reliable, viable and competitive while still being profitable? Introduction Website – Sanfrix.com Mail – Sales@sanfrix.com

  3. Let’s get to the basics of getting started and we can see how you can remain competitive in a cut-throat market like foreign exchange. Basic Steps Website – Sanfrix.com Mail – Sales@sanfrix.com

  4. Step 1 Company Incorporation & Licensing • There are legal requirements like deciding the operational jurisdiction, company registration and getting a brokerage license • Establishing institutional relationships with several parties eg: corporate banking solutions, payment gateway services, wire solutions, hosting services, etc. • Finalizing the business model and set-up to get started Website – Sanfrix.com Mail – Sales@sanfrix.com

  5. Step 2 Technology, Liquidity & Back Office Solutions • Running a business in a dynamic market such as Forex means growing rapidly, consistently and most importantly staying abreast of technological and infrastructural changes • In order to ensure a smooth journey, partnering with a forex brokerage technology provider who can keep up with the ever changing needs of a start-up is crucial Website – Sanfrix.com Mail – Sales@sanfrix.com

  6. Now that we’re done with checking off the basic requirements, let’s look at some of the intangible yet critical aspects of what will keep your ball rolling. Hacks to Succeed Website – Sanfrix.com Mail – Sales@sanfrix.com

  7. Hack 1 Don’t Over-do Profit Margins • It’s normal for FX brokers to apply a markup fee on the forex interbank market price. For eg: if the interbank charges 1 pip on EUR/GBP, some brokers raise it up to 3 or 4 pips on every trade of this currency pair. This means the broker is making a profit of 2 to 3 pips on each trade • This will make your customers shop around. There are a diamond dozen brokers who will offer something way cheaper, especially, if these trades fall under the top 6 trading pairs. So greed is not the recipe for long term sustainability Website – Sanfrix.com Mail – Sales@sanfrix.com

  8. Hack 2 Incorporate Forex Risk Management Tools • Get a risk management tool for your FX brokerage that’s easily compatible with MT4/MT5. We can’t stress that enough. Everything about running a successful brokerage is about making better decisions and running a trading business without a risk management tool is like gambling • An effective risk management tool doesn’t just protect your brokerage, but it also makes your business profitable over the long run by helping you make better decisions and avoiding losses Website – Sanfrix.com Mail – Sales@sanfrix.com

  9. Hack 3 Transparency and Support • Many brokers charge a commission fee and are transparent about it and some aren’t. They promise commission free trading but draw up the spreads and the customers never receive the actual benefit of trading • Forex trading is supposed to be as cheap as possible and you must aim at charging low commission fees if you want to and be transparent about it • Customers don’t want to invest large amounts of money with a manipulative broker. Also, keep your support high quality, quick and responsive at all times, especially during withdrawals to avoid giving red signals Website – Sanfrix.com Mail – Sales@sanfrix.com

  10. Here’s how Sanfrix can help you on this journey...

  11. Sturdy CRM customised for FX brokers with multi-tier affiliate management, unified communications, KYC, customer journeys, insightful reporting and more. COMPANY INCORPORATION Sanfrix has initiated several brokerages from various jurisdictions and can help you too, making the entire set up hassle-free. TECHNOLOGY We offer MT4 / MT5 Whitelabel solutions. Advanced technology and reliable solutions at an affordable cost. LIQUIDITY We offer deep institutional liquidity with customised pricing and execution analytics to make sure all your liquidity needs are met. CRM & BACK-OFFICE STRATEGIC PARTNERSHIP Continued strategic partnership, free consultation support and 24/6 customer support from our Chief Success Officer. Website – Sanfrix.com Mail – Sales@sanfrix.com

  12. Sanfrix can help you with all your brokerage needs and has helped several forex brokerages double their profits by simply implementing the right tools. Question is… Will your brokerage be one of them? Contact Us +65 9860 7215 sales.sanfrix sales@sanfrix.com t.me/sanfrixltd

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