Quote:
Originally Posted by roger123doger
Hi, does anyone know the process involved to create a bank and a forex broker (the bank will provide the trading processes for the broker)?
I've read that a bank takes ~$2,000,000 to start off with.
How much does a forex brokerage firm usually cost to start? How does one go about setting up the contracts between a bank and a forex broker?
any help is greatly appreciated
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not sure where you got $2m from. also, forex brokers have their own financial requirements. get your checkbook ready.
anyways, i would start by contacting your state's Department of Financial Services in regards to starting a bank.
for a forex broker, i would contact the NFA/CFTC.
have fun with all the paperwork and regulations.
