Local & International Payments

Access international payment rails including SWIFT, as well as local payment channels such as SEPA, UK, FasterPayments, ACH and more

Foreign Exchange (FX) Liquidity

Competitive foreign exchange services in G10 and exotic currencies, including cross-border payments from emerging markets.

Multi-currency Named IBANs

Dedicated account in your company name supporting over 40 different currencies – including EUR, USD, GBP and more.

Card Processing & Alternative Payment Methods

Enter new markets with fully integrated payments solutions and access local processing capabilities.

Crypto-friendly Bank Accounts

Business accounts with dedicated IBANs for companies in the digital asset economy, including crypto-processing and OTC trading.

Scalable API Integration

Securely automate payment initiation from your designated accounts with configurable levels of additional authorisation and approvals to support your specific internal processing requirements.

Banking - Capitalixe

So, you’re considering starting your own Forex brokerage?

Excellent decision! The Forex market is a multi-trillion dollar industry, and there’s plenty of room for new players.

Of course, starting a Forex brokerage is not a decision to be taken lightly. There are several important factors to consider before taking the plunge. In this article, we’ll go over some of the key things you need to know about starting your own Forex brokerage.

So grab yourself a pen and paper, and let’s get started!

What is a Forex Brokerage?

A Forex brokerage is a company that facilitates the buying and selling of foreign currencies.

The company typically acts as an intermediary between buyers and sellers and makes a profit by charging a commission on each transaction.

Forex brokerages can be either online or brick-and-mortar businesses and can be domestic or international.

The Forex Market

The Forex market is the global marketplace for buying and selling foreign currencies.

It’s the largest and most liquid financial market in the world, with an average daily turnover of more than $6.6 trillion. This makes Forex an attractive investment opportunity for traders and investors of all stripes.

Launching Your Own Forex in 6 Simple Steps

Step 1: Create a Strong Business Plan

This is essential, as it will guide all of your decisions regarding your brokerage. You want to make sure your business plan is well-thought-out and realistic. It needs to include a number of things, such as your target markets, marketing strategy, operating costs, and projected profitability.

For example, if you’re targeting the EU market, you’ll need to be licensed and registered by a local regulator – a popular choice is Cyprus, which is overseen by the Cyprus Securities and Exchange Commission (CySec). Alternatively, if you’re targeting the UK market, you’ll need to be regulated by the Financial Conduct Authority (FCA). Detailing all of this in your business plan will give you a roadmap to follow as you start your brokerage.

Step 2: Brush up on the Regulations

The Forex market is heavily regulated, and you need to make sure you are compliant with all applicable regulations in the jurisdictions where you plan to operate.

This includes getting the proper licences and registrations, adhering to anti-money laundering (AML) laws, etc. If you’re unsure of what’s required in your jurisdiction, it’s best to consult with an attorney or compliance specialist.

Step 3: Find a Suitable Trading Platform

Your brokerage will need a trading platform to allow customers to buy and sell currencies. There are a number of different platforms available, so you’ll need to do some research to find the right one for your needs.

Some factors you’ll want to consider include cost, ease of use, features, and customisation options. It’s also important to make sure the platform is compatible with the regulatory requirements in your jurisdiction.

Step 4: Choose a liquidity provider

In order to make a profit, your brokerage will need to earn commissions on the trades you facilitate. To do this, you’ll need to find a liquidity provider. A liquidity provider is a financial institution that provides the capital for trades. When a customer buys or sells a currency, the trade is executed through the liquidity provider.

There are a number of different liquidity providers to choose from, so you’ll need to do some research to find the right one for your needs.

Step 5: Find a payment processing partner.

Arguably one of the most important factors in starting a Forex brokerage is finding a payment processing partner. They’ll help you open a forex merchant account, so you can start processing payments from your customers. They can also help you set up the necessary payment processing infrastructure, such as a payment gateway and a billing platform.

There are a number of different options available, so you’ll need to do some research to find the right one for your needs. Some factors that make a payment processor a good choice include:

Competitive rates
A wide range of payment methods
Security features, such as fraud protection and two-factor authentication
Ease of use

Step 6: Set up a Bank Account

You’ll need to set up a bank account for forex trading company. This is where you’ll deposit the money from your customers’ trades, and where you’ll pay out the profits.

Remember, it’s important to open an online forex trading account with a bank that’s reputable, and has experience working with other forex businesses. You’ll also want to make sure the bank can provide you with the necessary banking services, such as wire transfers and foreign currency accounts. Finally, be sure to do your research, so that you’re finding banks that offer competitive rates and fees.

Step 7: Market Your Brokerage

Once your brokerage is up and running, it’s time to start marketing it.

Online and offline marketing are both important, and you’ll need to tailor your strategy to fit your target market.

Some things you can do include:

Creating a website and online presence
Developing marketing materials, such as brochures and flyers
Participating in trade shows and other industry events
Advertising in industry publications
Networking with other industry professionals

Final Thoughts

So there you have it. These are the steps you need to take if you want to start a Forex brokerage.

Of course, this is just an overview, and there’s a lot more involved in each step.

But if you do your research and plan carefully, you’ll be well on your way to starting a successful Forex brokerage.

At Capitalixe, we specialise in helping high-risk companies obtain the latest financial technology, payment and banking solutions such as IBANs, SWIFT accounts, payment processing etc. We have a wide range of experience in the Forex market, and we can help you get your brokerage off the ground. Contact us today to learn more.

Lissele Pratt

Co-Founder of Capitalixe

The fintech industry continues to struggle with a gender gap that sees women making up just 30% of the fintech workforce.

Fintechs must do more for the next generation of women in the industry to follow

In recent years, fintech has been seen as an exciting and dynamic sector. There are plenty of opportunities for career progression, high salaries and even the chance to bring about significant social change.

Despite this, many female employees cite harassment or bullying at work. In their charter, InChorus revealed that 85% of harassment-related incidents in UK fintech were related to gender, and 84% of victims were harassed more than once.

This shows that fintech is still not an industry where women can feel welcome and safe enough to progress.

As more women fight for their place in this male-dominated industry, business owners, directors, senior leaders and managers must create a rope ladder for the next generation of women in this industry to follow. Here are five ways they can do this:

1. Gender-diverse hiring practices and implicit bias training

One of the most effective ways to ensure a more representative fintech workforce is, of course, by hiring women. However, female founders and managers must also go beyond simply hiring women – they need to seek out female talent across all levels of their company, from junior roles right up to director-level roles.

In addition to this, fintech leaders must tackle implicit bias in the industry head-on. Implicit biases can influence our behaviour without realising it, and 80% of CEOs interviewed in a recent survey recognised a need for diversity within their organisations.

With AI-assisted technology like training programs on unconscious prejudices, it becomes easier than ever before to step back from day-to-day operations, so we all have room.

2. Mentoring

Mentoring is a process of providing guidance to another person, especially by an experienced, more senior person or expert on how they can acquire skills and knowledge.

Women who work in fintech should actively be offering their time as mentors for women entering into the industry so that both parties get something out of it – the mentee gets valuable advice while having someone with insider connections guide them through their job search.

Meanwhile, this helps seasoned professionals learn what needs fixing when it comes down to recruiting new talent.

3. Adopting flexible working practices and parental leave policies

The demand for childcare services has risen sharply in recent years thanks to changing work lives. Offering flexible working and parental leave initiatives are fantastic ways fintech leaders can pave the way for the next generation of women in fintech.

For many women, flexible working hours are critical in allowing them to juggle the increasingly essential responsibilities of a career and motherhood. A recent study revealed that nearly half of mothers don’t get the flexibility they ask for in the workplace.

When applied to fintech, remote working is an effective way for many women to work without compromising their careers/ family life. Several firms have been praised for their open and flexible working environments, which has helped them become leaders in the industry.

4. Traineeships and apprenticeship programmes for women

Many fintech companies are failing to offer women fintech applicants the chance to get their foot in the fintech door. By fostering female talent through traineeships or apprenticeship programs, leaders can provide women with an entry point into the industry by laying down their own framework as future applicants follow suit.

5. Creating digital communities for women in fintech to network

Fintech companies must create digital communities for women working in fintech – whether they are fintech founders or workers – to network with other like-minded professionals. These networks can be used as a platform for sharing advice and information about how to succeed, posting upcoming job roles and even advertising your services as a mentor.

There are plenty of networking groups fintech founders and workers can join to help them network with women fintech professionals. A quick Google search will help you find the best programmes that highlight the achievements of female fintech pioneers and offer advice and support on how other fintech leaders can encourage gender diversity.

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