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
1. A zillion. The biggest forex broker is UBSW (UBS Warburg). 2. Capital, technology and good dealing rates from banks I suppose.
swoop, it seems that many forex brokers are simply IB's with white labeled platforms. surf surf surfer
Happens in the futures too, but it appears more formalized (FCMs & IBs), instead of just changing the logo on the p&l statement: http://www.velocityfutures.com/vf3.asp?page=75 http://www.investopedia.com/terms/i/introducingbroker.asp http://www.investopedia.com/terms/f/fcm.asp http://www.fxcm.com/white_labeling.html http://www.fxcm.com/introducing_brokers.html http://www.gaincapital.com/index.asp?page=SrvWhiteLabel http://www.gaincapital.com/index.asp?page=SrvBrokers http://fxtrade.oanda.com/about/white_label.shtml http://www.hotspotfx.com/openacct/whitelabel/ http://www.forexdanmark.dk/pages/Dealingsimulation/ib jensen Saxo.pdf
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
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.
How about those: www.fxsol.com www.gci-trading.com www.tradeatman.com www.gain-capital.com www.mgforex.com www.pfgeurope.com www.cms-forex.com www.hotspotfx.com www.fxadvantage.com www.forex-day-trading.com www.rtfx.com www.ifxmarkets.com www.dea4free.com any comments very welcome... Regards, Ralf