number of forex brokers

Discussion in 'Forex' started by marketsurfer, Nov 27, 2003.

  1. forex brokers seem to be poping up everywhere. just read the latest TA of stock/commodities and was amazed at the numbers of forex brokers----

    questions:

    1. how many forex brokers are there ??

    2. obviously there are few barriers to entry to open a forex broker business---what exactly is required ??


    thank you in advance

    surfer surfer
     
  2. 1. A zillion. The biggest forex broker is UBSW (UBS Warburg).
    2. Capital, technology and good dealing rates from banks I suppose.
     

  3. swoop,

    it seems that many forex brokers are simply IB's with white labeled platforms.


    surf surf surfer
     
  4. corvus

    corvus

    With little value-add either...I don't really understand all the white-labeling.
     

  5. i agree. there must be little to no barriers to entry in the business.

    best,

    surfer
     
  6. corvus

    corvus

  7. thanks for the research. i called a MAJOR forex broker and inquired about white label. one is required to place 100k in an account with them and they will set you up. you do not need to trade the money, and the money never leaves your control. talk about easy ! i am sure the futures broker do not make things this easy .

    best,

    surfer
     
  8. corvus

    corvus

    Guess that's the advantage of being unregulated. :)

    But seriously, I can see some purpose in this...say someone did have a trading group for whom they provided research or signals or whatever. Attaching a $x commission/trade or something as a "fee" seems appropriate.

    But I haven't seen a white-label that adds much, imho.

    But the *IB* that WOULD add value would be the one handling GAIN, OANDA, FXCM, etc and letting me cross them. :D
     
  9. cvds16

    cvds16

    they are all prepared to rob you from your money
     
    #10     Nov 28, 2003