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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Opinions expressed at Finance Magnates are those of the individual authors and do not necessarily represent the opinion of Fthe company or its management. Finance Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Any opinions, news, research, analyses, prices or other information contained on this website, by Finance Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice.
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The profit margins are considerable for both of the partners in such an enterprise and the benefits that are available by forging such business relationships are considerable. In this article, I want to discuss how a company is able to build its own brokerage, and how it can benefit from the expertise available by partnering with industry authorities.
The most financially beneficial relationships we can establish are with other companies or experts in the industry. Once a company has decided to concentrate on a retail brokerage model, the obstacles can be daunting.
Customers can choose from a wide variety of online brokers, and each is firmly concentrating on creating traders who remain loyal to the business. In addition, the technology that is required to create such a business is complex, and an online brokerage firm in requires both an impressive interface that allows a customer to benefit enormously from the assets on offer, whilst simultaneously providing the back office staff with a state-of-the-art system that allows increased operational efficiency.
There are a number of models available, each of them with in-built advantages for a client: The simplest model available for a new company is to establish a franchise.
At my company UFX, we work with many small to medium companies in creating franchises, which allows them to concentrate on building a first-class sales team. This is an ideal solution for a company whose expertise lies in this direction, allowing them to do what they do best: We are then able to provide them with all the other tools that they need to ensure success, including regulation and compliance, training, business strategy, lead generation, support, payment processing, and much more.
Whilst recommended only for the experienced brokers, the profit margins are larger, and the brokerage is fully independent. To get a brokerage business off the ground, there are essential tools that are must-haves to attract new business. In order to get the brokerage business off the ground, there are certain essential tools and requirements that are must-haves in order to both attract new business, and more importantly, ensure that customers remain loyal to the business. Regulation is something that all customers are looking for from an online brokerage, and a crucial step in ensuring a successful business.
As stated above, an online firm is hugely dependant on advanced technical tools that allow the firm access to as much information as possible. Of vital importance to your company is the ability to promote healthy competition amongst the sales team, and this technology will enable exactly that.
The KPI software enables back office staff to access their own personalised dashboards and create monthly targets for each specific team in the company. Whichever format you choose for your brokerage, and regardless of your level of expertise, training and guidance are critical throughout the process.
From advice as how to conduct sales, to in-depth training about the computer software that you will be using, you must ensure that you have the constant ability to turn to someone for this crucial assistance. We hold trading days for your team in-house and your place of business. At UFX Partners, we hold trading days for senior members of your team in-house, as well as at your place of business.
This allows you to benefit from seeing how we conduct our business practises at head office, and allows our training teams to give on the spot advice as to how to increase productivity in your workplace. This person will be a single point of contact whose sole job is to ensure that your company benefits from their expertise in creating and managing a personalised business plan.
Whether that involves an increased focus on marketing or customer retention, this person will work alongside you to expand productivity across the business. With the help of all the above tools, you should be free to focus on the most essential element of your firm: The combination of both the front facing trading platform and back office KPI system allow the trader a much more engaging experience.
Overall, whilst building an online brokerage involves a lot of work, be assured that industry experts are able to assist in ensuring that your new business venture becomes successful. In choosing a model that works for you and your existing company, and works to your strengths, a partner can focus their attention on providing you with the missing elements that are necessary for success. Contact him at Markt ufx.
Our Quarterly Report incorporates unique data on trading volumes and traders, in-depth insights, special guest articles, regional information, regulations, updates and much more. This exclusive report aims to serve as a manual, answering all of the questions on the Chinese multi-asset trading industry that you were always afraid to ask.
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Finance Magnates Newsletter Insights, breaking news, market analysis and articles delivered to your inbox daily. Bloomberg Share this article. How to Get Started Once a company has decided to concentrate on a retail brokerage model, the obstacles can be daunting. Franchise The simplest model available for a new company is to establish a franchise. Essential Tools In order to get the brokerage business off the ground, there are certain essential tools and requirements that are must-haves in order to both attract new business, and more importantly, ensure that customers remain loyal to the business.
Training and Guidance Whichever format you choose for your brokerage, and regardless of your level of expertise, training and guidance are critical throughout the process. Increase Performance With the help of all the above tools, you should be free to focus on the most essential element of your firm: Got a news tip?
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