Your To-Do List to Start a Forex Brokerage in 15 Days with a Turnkey Solution

The worldwide Forex industry is growing at a very fast pace, with more than $7 trillion of volume traded every day. This is one of the reasons that every minute, a new entrepreneur joins the market and competes to ace the race with their own brokerage. With the help of a turnkey solution provider like PheasaTech, launching a new brokerage has become a job of just 15 days instead of months of planning and development. Here is how a turnkey solution provider makes the launch faster, easier, and budget-friendly for the broker. You have to do nothing but follow the activity list below, and no one can stop you from topping the industry.

15 Days Brokerage Launch Program:

Day 1: Be focused and keep your vision clear.

Analyze where and which market you want to target. Take the reference of the retail traders, institutional clients, etc.

Day 2: Select an appropriate Business Model.

There are certain pre-defined models like STP (Straight Through Processing), ECN (Electronic Communication Network), or Market Maker. Choose the suitable one. Also, finalize your products or services in terms of offers. These can be currency pairs, CFDs, Crypto, Commodities, Indices, or anything else.

It is very important to finalize the name, domain, and logo of your brand at the initial stage. So start working!

Day 3-4: Choose the right Turnkey Solution Provider.

Here, you need some market research to select the best provider for your brokerage, which is genuine and experienced. Make sure your provider offers an all-in-one package including Trading Platform (MT4/5 or Sirix or Vertex or any other reputed platform), CRM back and front ends, PSPs, Liquidity, and Regulation, along with Compliance Tools.

After comparing the pricing of various packages, do not forget to sign an agreement before proceeding with onboarding.

Based on your target audience and location, be wise in selecting a jurisdiction that suits you the most. Choose from various locations like Seychelles, BVI, Cyprus, Labuan, Mauritius, and many more.

Day 6: Acquire the Legal Process.

Based on your choice of jurisdiction, get the information and apply for company formation, license, or registration. Your Turnkey provider must be a pro with documentation and the compliance process.

Days 7-8: Set up your branded Trading Platform.

As selecting and implementing a Trading Platform is the most crucial step for a brokerage, you would need more time here. You will have to set up your platform keeping spreads, commissions, leverage, and instruments in mind. Configure proper trading conditions for all of these. Also, implement a bridge solution by integrating with a liquidity provider.

Day 9: Select a robust CRM front and back-end interface.

You can customize a CRM as per your requirements and start getting it integrated with your branded platform and white-label it for your clients’ use.

Day 10: Website launching.

As you have already decided on your domain name, by now you should be ready with your brokerage website and integrated trading account registration. This is the time when you launch your brand-new website.

Day 11: Set up Client Cabinet Area.

For your traders to get easy access to the CRM front end, you need to add legal processes like KYC/AML. Also, the client should be able to upload the documents from the portal. To support clients’ queries, integrating FAQs, live chats, and support portals would be beneficial.

Day 12: PSP Integration.

For easy deposits and withdrawals, integrate more than one payment processor so that the client can choose the one as per their convenience.

Day 13: Testing.

You and your team should test the portals and platforms for account opening, deposits, trading activities, and withdrawal processes. Having an internal QA test done on trading platform and client portal would be a good idea.

Day 14: Pre-launch user testing.

This is called a Soft launch, where you can gather your inner circle beta users and ask them to give their feedback on your platform. This wa,y you get a chance to fix bugs and test the server performance.

Day 15: The Day You Go Live.

Finally, you can launch your brokerage globally and begin campaigning with your offerings via social media platforms, Google Ads, IB networks, etc.

Keep track of KPIs and optimize and upgrade your platform continuously.

As we said earlier, launching a Forex Brokerage should be a journey that is not too long and complex. If you have a perfect turnkey solution provider, a strategic plan, and a team that you can rely on, then you are good to go. Ask us at www.pheasantech.com how we can be helpful in your journey. WhatsApp us for further details.