The world of trading has been expanding more and more. The Forex market alone is registering astronomical profits exceeding 6.6 trillion dollars a day! This is why creating a broker has aroused the interest of people from all walks of life.
It’s a business opportunity you can’t afford to miss, especially considering that the investment is minimal compared to the return you can receive. However, it is something that takes time, but how much? Here you will find out.
What is a broker?
Although you may have heard the term broker many times, likely, you are not entirely clear about it and few people know what it means. In essence, a broker serves as a link in the interaction that takes place between the trader and the market.
And how does the broker perform its functions? The answer to this question is very simple: through the creation of platforms and spaces to make investments, as well as the incorporation of tools that allow users to carry out financial analysis for them.
How to become a broker?
Although this is difficult, it is not impossible. The main thing is to acquire previous training that allows you to understand all the operations involved in the development of these activities. Or find a provider that not only provides you with the necessary technology to create a broker but also trains you.
It is essential to know the technical language of the markets, and other terms such as technological solutions, Forex licenses, corporate solutions, and liquidity. Handling all these aspects by yourself can lead you to make a lot of “rookie” mistakes and waste time and money, something that is unnecessary…
What skills are required to become a broker?
As you can imagine, not everyone can create a broker and be successful. That’s why we briefly describe below the skills you should develop before starting:
- Sales proficiency
- Good stress management
- Excellent communication skills
- Computer skills
How to become your broker?
As we have already mentioned, the fundamental thing to create a broker is to get completely involved in the world of finance. In the same way, something that you cannot leave aside before starting is to know well in which market niche you want to get involved.
Likewise, setting a budget, choosing a platform, selecting a technology provider, and opening a bank account are steps you will have to complete to start this new process.
How long does it take to create a broker?
Well, you have already completed your learning. It’s time to create your broker, the first thing you should know is that creating a broker from scratch is not a simple task.
In addition, to get it up and running it is not enough to have a trading platform, other elements are required such as plugins, CRM system, payment options, and other features that together allow everything to work properly.
To know how much time is required to create a broker you have to take into account the time it will take you to perform these actions:
- Create the company, it may take 1-3 months.
- Set up MT4/MT5, it may take 1-2 months
- Set up tools such as social trading, IB plugin, PAMM, MAM, among others. It may take 1 month
- Create a website, it may take 1-3 months
- Get a banking solution, it may take a lifetime, and never get it.
- Get Liquidity, which can be achieved with asphyxiating conditions…
- Metaquotes White Label License, it can take 1 month.
- Broker Regulation, depending on the regulation needed, can take more than a year and ruin you financially…
As you can see the whole process of creating a Broker can take a long time, which will lead to a delay in earning profits. However, there is an ideal solution for you to forget about the technical part and go straight to getting clients.
We are talking about buying a White Label + all the components offered by an authorized Metaquotes provider such as Smart Broker Solutions. This way you will not only have a trading platform from an authorized provider but everything you need to start trading. For example:
- The official Metatrader license
- Creation of the trading company
- Technological applications such as APIs and plugins
- Establishment of the banking solution and its payment methods
- And best of all… specialized technical support to solve any doubt that may arise at any time!
With a White Label solution from Smart Broker Solutions, you will have everything you need and you will be able to create your broker in record time… In as little as 1 month, you could start your new broker.
3 steps to create a broker
Knowing the process to follow is something that can help you achieve success as a broker. That is why we summarize it in these simple steps:
- Make a good plan
- Choose an experienced technology provider
- Start bringing customers to your new broker
Tips for creating a successful broker
Here are a few tips that will help you get to the top when it comes to creating a broker.
- Always choose the best platform: this is one of the most important aspects. That is why you should not save on expenses when making a decision.
- Include a wide variety of plugins and tools such as IB and social trading to help you attract a greater number of users.
- Liquidity comes first, you need to have a high level of stability, even if this means partnering with several providers.
- Hire an experienced technology provider. If you think that once you have the broker you won’t have any problems, you are very wrong. Of course, difficulties will arise, but that is not the problem. The problem is that your technology provider has no idea how to solve them, which would affect your business.
Creating a broker from scratch on your own vs. using Smart Broker Solutions
The advantage of creating a broker is that we can take care of ALL the necessary aspects. In addition, we accompany you through all the processes even when your broker is already up and running. This means saving a lot of time and effort.
In addition, we offer you constant training and the best tools to create your broker from scratch in record time and make profits quickly.
And now that you know how to create a broker from scratch: what’s the next step?
As you may have noticed, a broker can change your life because it offers you unmatched profitability, as long as your decisions are the right ones.
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