So...I happen to have some amount to invest (a little over $200k) and I think that's the minimum to start a small forex dealing desk/brokerage website. My major idea is to charge 0.1 pips on eur/usd and majors and charge 1 pip on all others. Do you think this will be a shocker??? Or...people will rather bet on known names - such as fxcm, forex.com, etc? Personally, I will rather pass and play with established names...but can't speak on the behalf of others - so i am interested to hear alternative opinions. thanks a lot, howard!
Starting a forex website that charges 0.1 pip per trade - a good idea?
DonCardEst
Junior member
- Messages
- 20
- Likes
- 0
I think you can use smaller part of its amount to start your ideas. I will share such ideas here if would like.
jiggly
Well-known member
- Messages
- 478
- Likes
- 65
I think you will be shocked when you realise how much money you are really going to need, just to compete.
Otherwise, your business model would work great in India! its a growing market for them and the majority are looking for a cheap broker who takes small money deposits for next to nothing spreads.
$200K? is this the marketing budget for the year? which countries were you thinking of targeting?
Otherwise, your business model would work great in India! its a growing market for them and the majority are looking for a cheap broker who takes small money deposits for next to nothing spreads.
$200K? is this the marketing budget for the year? which countries were you thinking of targeting?
forexproptrader
Newbie
- Messages
- 9
- Likes
- 0
I think that is a really good idea but it takes much more then small commissions to be a successful FX broker. Example, what regulation would you have? without safety of funds .1 doesn't do much good....
jiggly
Well-known member
- Messages
- 478
- Likes
- 65
With that kind of money, it is better to go for a white label option.
