Stepping into the world of foreign exchange can be an exciting thing. To the uninitiated, it can be a world of intimidation and things to learn – but over the past few years, modern technology has seen to it that getting into Forex as a line of work or even just as a pastime or hobby is much, much easier than ever.
But to the veterans among us, there’s much more to Forex than day trading. The key to really making a successful living through the global online foreign exchange marketplace is by stepping in and making your mark on the industry as a quality broker platform – and with your own fully-formed brokerage, you can facilitate the trading on the international marketplace throughout the world with several of your own trading systems and customers.
Anyone can trade – but to actually legitimately move money around on the open market, there are certain rules that need to be followed, specifically by the person enabling the trading. The broker, then, is the situational middle man between the greater market at large, and the individual currency traders out there looking to create a sizeable profit.
The Broker and Trader Relationship
Without a broker, a trader can’t make an investment into the market and earn their profits – and without traders, brokers can’t do much either. Although the two are fundamental to each other in the foreign exchange market, there are mediocre-quality brokers and even fraudulent practitioners alike. Regulating the Forex market is an unknowably large headache, not just due to its international nature, but also due to its complete decentralization and lack of central financial authority.
There is no one to truly hold accountable – and that can be frustrating in the cases when illegal activities occur. To make matters worse, the inability to easily and truly distinguish between a high quality and an ill-intentioned broker only serves to further complicate manners in an unnecessary way. However, measures are taken by diligent traders to ensure that the brokers they work with aren’t just handy and helpful, but reputable – and similarly, brokers do their best to see to it that their outside image reflects that through the right marketing, word-of-mouth and content management.
Being a trader is none too difficult. All you need is to get in touch with the right broker of your choice, and set yourself up with all the technological aids you can afford to get yourself the edge over the rest of the traders out there looking to make a dollar. Currency values are in constant flux based on the state of the economy, and the financial sector’s stake in the value of this or that commodity. Foreign exchange is all about exploiting the differences in the most minute way possible, making cents on the dollar – but on a regular, and predictable basis.
Starting a Broker
If you yourself want to become a broker, however, the rules and necessities are a little more stringent. That’s where we come in, here at FXBS. Through years of working in the Forex industry, we at Forex Bridge Solutionsspecialize in – among many other things – finding ways to get brokers licensed to practice financial securities and foreign exchange, by getting a special EU banking license right here in Latvia.
Forex, while not tightly regulated, does come with regulations to protect its practitioners and experts. To keep you safe and highly reputed, you need to keep an updated license – and with an EU banking license, the number of nations who’s customers your brokerage can accept balloons to much more than just a single country. If you’d like to live the life of a broker, we at Forex Bridge Solutions can start you off right away. FXBSwill guide you through all the steps it takes.