Category Archives: Forex Broker

Requirements For Acquiring A Forex Broker License

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Prospective Forex brokers who wish to apply for a Forex Broker license need to follow the steps outlined below.

1. Invest Minimum Capital

Every country has a capital adequacy legislation which requires Forex brokering firms to invest a certain minimum capital in order to obtain a license. Since the minimum capital would differ according to each jurisdiction, the applicant should ascertain the exact amount for their respective region.

2. Pay the Application Fee

Just like the minimum capital, each jurisdiction has its own government licensing fee. The licensing procedure would also involve legal paper work which would incur additional costs. The applicant needs to pay the licensing fee and also bear the cost of the legal consultancy service fee.

3. Setup an Office

It is mandatory in most jurisdictions for the licensee to hold a full-fledged office in the country where they acquire their Forex broker license. Here again, there are minimum requirements that are stipulated according to each jurisdiction.

4. Employ Qualified staff

Since the brokerage firm would be handling investors’ money, the firm needs to employ experienced and qualified staff who can do the job efficiently. They should be able to produce positive results financially on behalf of the investor.

Finding qualified staff and handling relocation or immigration and work permits in certain cases could be a complex issue. However, every firm needs to handle these issues to run their firm efficiently.

5. Furnish personal documents

Every director and beneficial shareholder in the Forex brokerage firm needs to furnish documents regarding their financial status, good reputation and character, apart from proof of professional experience and relevancy to the industry.

These documents could include bank and business references, documents from the relevant police department or law enforcement authority, and other similar documents.

6. Setup relevant software

The Forex brokerage firm needs to have a professional business software package in place which is required to conduct the Forex business. There are a number of issues that need to be taken into consideration like features of the software and the hardware configuration of the server required to support the software.

7. Market and Promote the Business

Mere possession of a Forex broker license may not guarantee a constant stream of clients. The firm needs to employ marketing strategies based on an effective marketing plan. Employing a good marketing agency could be one option even if it costs money for advertising and promotion.

These are the steps required to be followed by a firm that wishes to acquire a Forex broker license.

Do’s and Don’ts for Business Casual Dress in the Workplace

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If your company has a casual dress code, getting dressed for work can be confusing.

How do you want to be perceived in the workplace? Chances are, whatever your job situation, you want to be perceived as a competent professional. Here are some do’s and don’ts for projecting a professional image on the job.

Do:

  1.  Recognizer that every organization has a dress code, even if it’s not written down. If you aren’t sure about your company’s dress code, look at the people above you. How does your manager dress? How do the VPs, or owners of the company dress? If you want to be promoted, dress the way they do.
  2.  Choose clothes that are flattering to your figure, and complement your coloring. Have clothes tailored to fit you -business casual clothes as well. You’ll be surprised at how polished you look.
  3.  Put some thought into your business casual wardrobe. Many people spend time coordinating their business suits, but consider their business casual wardrobe to be an afterthought. Wrong. You should spend as much time, or more, on your business casual wardrobe, so you look put-together and professional.
  4.  Build a basic business casual wardrobe, starting with a few pairs of pants/skirts in dark colors that go with everything. Then it’s easy to add color and pattern to personalize your look

Don’t:

  1.  Don’t believe that permanent press clothes do not need to be ironed. They still need to be pressed lightly.
  2.  Don’t wear rubber-soled shoes or athletic shoes to the office. This is sports wear, not business casual wear. Wear leather shoes, and make sure they are in good condition.
  3.  Don’t (women) consider a scrunchie to be an appropriate hair accessory for work.
  4.  Don’t (men) wear white or athletic socks with dress pants. Wear dress socks that match your pants.
  5.  Don’t forget to maintain hair coloring. Letting your hair grow to reveal dark or grey roots of one inch or more makes you look like you don’t care about your looks. Head to the hairdresser when your roots start to show.
  6.  Don’t arrive at work on business casual days without a way to upgrade your look. The simplest way is to have a jacket handy to put over a casual outfit. For men, keep an extra tie available. For women, a necklace or slightly higher heeled shoe can add polish and panache.
  7.  Don’t dress to match your colleagues. Put your outfit together based on what your managers wear.