If you have decided to take the leap and work for yourself, then well done. The hard work starts here but the rewards that it will bring are just around the corner. If you have signed up for a Forex Trading Company license then you will either become a broker or offer educational services. Either way the market is huge, and you just need to find the right ways to penetrate it correctly.
There is definitely plenty of business to be had through the Forex market, but getting your company out there and making sales is the hardest part. Of course, once you have your Forex Trading Company license you need to decide exactly what part of the market you are looking to get involved in. Because of the difference in share capital a lot of people provide educational resources rather than becoming a broker.
Of course, that is not to say you will make more money as a broker. In fact, there are a handful of companies on the internet that turn over millions every single year just providing educational resources. The best business model that I have come across is the membership business. Some companies are charging in excess of $150 a month for membership. Imagine if you got 100 customers on board, or a bit more into the future you had 1,000 customers. That is a very healthy income and that doesn’t even take into account what your business would be worth at this stage.
Of course, this is just offering signals, which is very basic stuff. Other companies choose to go down a more academic route and you could do the same. Some offer monthly courses which last up to 24 hours. Of course the great thing here is you make them once a month but offer them to an unlimited amount of people. Such a course would cost most people in the region of $500. So you can soon see how much income your business could generate by just offering one monthly course.
Then we come to being a broker. The same Forex Trading Company license applies, but a broker will need to put up somewhere between EUR 200,000 and EUR 1,000,000 in share capital to be able to legally trade. Of course, once this is up and running a Forex broker is virtually sitting on a gold mine. Traders trade 24 hours a day and each time they trade they pay a small commission to the broker. Some traders make 50-100 trades a day and the average customer could be producing anything up to $5,000 a year in commission. Imagine if you could get just 100 customers on board with your business that would be a tidy sum of money!
So you can see that there is certainly plenty of money to be had in the Forex market. You could set up as a membership website, educational resource or even a broker. In fact, a lot of companies now run all three outfits from the same place and turn over huge amounts of money. I would definitely advise starting with just one business model to begin with to see how it goes. There is a lot of money to be had, but you are in a competitive market!
Register a Forex Trading company in Cyprus now.