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How to launch a forex brokerage company from scratch?


Both Forex and Cryptocurrency markets provide many features to succeed. That’s why hundreds of companies and individuals learn how to start bitcoin brokerage or how to create a Forex broker. The latter option is relatively more popular but requires enough time and money. Further, you need to know all about legal requirements and follow them to create Forex broker.

First, you need to have sufficient seed capital for launching and maintaining the brokerage platform. After that, do research and decide what services you will offer to your customers. Is your broker working with fiat or accept cryptocurrency payments as well? Remember that you will enter the highly volatile market, which attracts thousands of traders. What about margin trading options?

The set of products will be crucial for selecting the place of registration for your brokerage business. Some jurisdictions have less strict requirements for brokers. However, they are still different worldwide, so it’s better to look at the countries and off-shore zones that support cryptocurrency exchange development. In this case, the most popular choices are Estonia, Cyprus and the British Virgin Islands.

To register your new business, you need to establish a corporate bank account and find a reliable payment provider. If your scope of services covers margin trading, you will need to decide on opening a credit line. Moreover, some banks require a vast set of documents for verification.

That’s why you need to have enough time for consideration and approval. Another vital part of starting a cryptocurrency exchange is passing the KYC/AML procedures. Here, you need to be present in person or send a lawyer who represents your interests.



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