Having run a trading desk for larger day trading firm, & an osj for a small day trading firm, anyone know the way to start up a small office? Fromk researching firms to getting the 3, which I just found I do not have to be sponsored for, as opposed to the 7 w/ NASD. Any other ideas from any who have done so or looked into doing so. Or any good/bad feedback from customers who went to such a place? thanks
suggestion.... take the time to SPELL out what you are saying.... do not use abbreviations, as you are in management now, and waisting time asking over and over again: "what do you mean"? and "what does that mean"? is beneath you, or you should rise above that.... SPELL Check your words and Grammer Check your (poorly formed) sentences, perhaps then, those with the ability, knowledge and where-with-all can take you seriously....
If you want to start a forex firm you need to open up an Introducing broker account wih they ask for 50 to 100 k to start up were you can make a quarter pip to half a pip depending on volume and the size of the accounts they open but i could be wrong.
Sorry, I'm in a bad mood today and can't resist making the suggestion you employ the spell check feature also. You appear foolish when you can't spell yourself.
If you wanted to be Introducing Broker (IB) for forex, you need to pass the series 3 and tie up with a Future Commodity Merchant (FCM). You can start up small operation by earning trading pips rebate from the FCM. There are many other detail requirement that an IB has to adhere to and there is regular auditing by your FCM done by the NFA. Off course being regulated is the best way to go. There always a short cut to this is to join Offshore Forex Broker. The requirement is less strike. Below are a few reputable Offshore Forex Brokers that you can consider. www.SaxoBank.com www.ForexTrading.com www.ManFinancial.com
What is "series 3"? Is it hard to pass...I assume its an examination? Could someone start his own FCM? What kind of licence, exam, education would one need and how long would that take. Is there anyone here with experience in this? I wouldn't mind starting up a company like Oanda. I like their model-there should be more like them. But I wouldn't want to be just an introducing broker...those seem useless if you ask me. What would I do, introduce poor saps to gain capital group or FXCM?
Read a bit on Michael Stumm and Richard Olsen---how long they've been at this, their business and academic background. Starting up a "company like Oanda" is no easy feat! The computer and programming knowledge, the mathmatical near-if-not-actual genius, the other ventures they are involved in......ask yourself if you have anything near their qualifications and if your "company like Oanda" would be anything like Oanda at all. Kali