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Whats the best platform to start a BO broker company?

jrnozidjrnozid Posts: 2
Just what the title says. Whats the best platform to start my own brokerage company? And how much would it cost to do so? Also where is the best offshore country or place I can put up a BO broker company? I've heard Banuatu sounds good.
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  • OkaneOkane Posts: 1,282 admin
    jrnozid said:

    Just what the title says. Whats the best platform to start my own brokerage company? And how much would it cost to do so? Also where is the best offshore country or place I can put up a BO broker company? I've heard Banuatu sounds good.

    Not sure exactly but for a serious company I think you would need at least a million dollars.
    If you want to be another bucketshop you could probably pull it off with 100K but you will most likely
    be out of business pretty soon as the competition right now is huge.

    Anyway, I don't believe you are serious. Once in a while we get a question like yours mostly because the person lost money and is pissed off lol...
  • jrnozidjrnozid Posts: 2
    Well I actually am kinda serious. I've asked around and emailed binary soultions company and there wasn't any platform amounting more than 100k. More or less below 30k 30k seems good enough. Thing is competition on your side of the world is pretty big but on my side there few to none. I wanted to make one locally in where I reside because people here seems to trust local products. So Im looking for white label platform which I can use to start my own. I pretty know what I will lose and I inted to accept whatever happens with an investment.
  • OkaneOkane Posts: 1,282 admin
    edited October 2016
    jrnozid said:

    Well I actually am kinda serious. I've asked around and emailed binary soultions company and there wasn't any platform amounting more than 100k. More or less below 30k 30k seems good enough. Thing is competition on your side of the world is pretty big but on my side there few to none. I wanted to make one locally in where I reside because people here seems to trust local products. So Im looking for white label platform which I can use to start my own. I pretty know what I will lose and I inted to accept whatever happens with an investment.

    I didn't say the platform costs 100K. I am talking about starting your business.
    Good luck starting a brokerage with only 30K... You need to hire staff, buy servers,
    pay for quotes, tech support to keep things running, and not to mention the biggest cost is going to
    be marketing. Sure you can buy a platform for even 10-15K but then what? You need to invest a whole lot of money for marketing.
    And as mentioned earlier, the competition right now is huge and the number of people signing up with bucketshops these days are (thankfully) decreasing.
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