Starting a Foreign Exchange Business

If you are starting a foreign exchange business, you will have to work on your business plan. Regardless of your location, you can start this type of business. Determine the licensing requirements in your state or country.

Before making the final decision, make sure that you study the risks and benefits of the available options.

How to Open a Foreign Exchange Business

Many people want to start their own business but the most common hindrances are lack of money and knowledge. If you are interested in foreign exchange, you can earn great profits by starting your own foreign exchange business. Regardless of your location, you can start this type of business. Determine the licensing requirements in your state or country. You can visit the concerned government agency to inquire about the requirements. Comply with the necessary documents and paperwork to apply for the business license and pay the fees. Processing may take some time but it’s worth the wait.

Starting from scratch can be hard but a great idea to enter the industry is purchasing an existing company that is involved with trading. Set up costs are higher when you start from scratch. Before making the final decision, make sure that you study the risks and benefits of each option. If buying an existing company is better, then you can proceed. With the business license, you can operate the business with ease because everything will be legal. Here are the things that you need to do –

Things to Do for Starting a Foreign Exchange Business

Set your objectives beforehand. Your goals or objectives should be realistic enough and evaluate your skills. Since you are going to be the owner, you should have enough background in Foreign Exchange. Analyzing the competition is vital as well. By doing so, you can identify the weaknesses of your competitors and use them against them. The costing and expenditures will make up the financials. You will be making forecasts for the next 5years. If your business is viable, you can easily seek funding (when needed). Another consideration is the staff. How many employees do you need? Hire only the most competent and reliable staff.

Choosing a good location is also important. The location of the existing company should be situated in the city center or anywhere where it is easily accessible. You also need to apply for utilities, internet, and phone lines. The business plan you create should have detailed financials and decide on the business structure. Overhead expenses should be kept low since you’re just starting out. With your knowledge of the foreign exchange, you will surely succeed in this kind of business. So what’s it going to be – starting from scratch or buying an existing business? Choose the option that offers the best advantages. There will always be risks but with careful planning, you’re sure to become one of the most popular foreign exchange businesses.


  • andrea said on December 28, 2010
    start a foreign currency business in Malaysia. what should i know ?
  • jatin said on February 11, 2011
    i just want to know that which license i need to start foreign exchange business for UK and how much money i required for that business?
  • vijay said on February 14, 2011
    i just want to know that which license is require to start foreign exchange business in INDIA and how much cash flow i require ?
  • Sam said on March 11, 2011
    How do i start a foreign exchange business in Johannesburg South , South Africa? What are the regulations and what license do i need. How much cash do i need to start?
  • shanthi said on March 22, 2011
    how to start a foreign exchange business in Malaysia? How much i need to invest for this business? what are the regulations and what type license i need apply for and at where?
  • vineet singh nimesh said on July 20, 2011
    how to start a foreign exchange business in delhi? how much i need to invest for the business ? what are the rules and regulation and what type license i need apply for and at where plzzzzzz...
  • Charles Walkine said on August 31, 2011
    Hello very interested in FOREX looking at setting up in the Bahamas any suggestions or tips you can offer
  • bernardmendes said on September 19, 2011
    Iam very interested in starting a foreign exchange in India as well as Hong Kong, and I am also looking for staff for the same. Please do let me know the procedure for procuring a license for the same or if someone can provide a business plan. ( will pay for professional help)
  • A.CHRISTIAN said on October 26, 2011
    I am in Chennai and Tuticorin and I want to start foreign exchange business .Pl guide me.
  • Malcolm said on November 6, 2011
    how do we start foreign exchange biz . can we tie up with Bank to do dis business . what are the modalities , procedure 7 process to follow ....Thank U
  • rajiv said on November 26, 2011
    how to acquire for license of foreign exchange Mumbai, Maharashtra,India
  • Alexa Khan said on January 8, 2012
    To start of a foreign exchange business, all you need is a phone and a laptop as well as all the necessary registrations and a registered company name. Once you start making a decent amount of money and are popular within your client base, you can start employing other traders to work for you. You also need an accountant and a website set up. So, to begin with the set up costs are extremely low. for more information email me on I am looking to open up my own FX business and it would be good to have business partners internationally.
  • khulekani said on March 28, 2012
    i need to open a foreign exchange company but i do not know where to start and how much do i need.jhb,gauteng, south africa
  • dinesh said on April 23, 2012
    dear sir i need to open a foreign exchange company but do not know where to start and how much money i need
  • Pradosh said on May 25, 2012
    I'm from India n I've d Place to set up in karnataka n kerala n I've undergone a course of of currency exchange in MBA. Give me some info for the licensing process
  • Prince soni said on June 2, 2012
    I want to venture into the foreign exchange business & wanted to know the capital require to start the same. Also what are the normal margins that we get. Secondly, physical delivery of currency means we need to have the same in advance with us & when demand comes then we charge fee & pay the foreign currency? if it is then how we source the physical currency of different countries.
  • salma said on June 23, 2012
    I'm from bangalore, i need to open a foreign exchange company but do not know how much i should invest to start the business.
  • GANESH S TAMBE said on July 28, 2012
    Ours is a Regional Rural Bank & we wish to start Foreign Exchange Fix Deposit Business in our Bank. We are located in Maharashtra. Please guide us whether we can start with the Foreign Exchange Business in our Bank.
  • vasimbari said on July 31, 2012
    dear All who wants to Start a foreign exchange business in india please pay attention , I am from Mumbai I am also going to start a foreign exchange business soon and IA we all will be in touch to each other, As i inquired we need a license from RBI to start a business and for that license we have keep a balance of RS 25,00,000 in RBI as a security deposit and after that only RBI will provide a Foreign Currencies in that limit only and we have to sell a Currency with profit margins. Thanks to all and please inform if u found any further information regarding this and also please rectify if i am mistaken. Mail me.
  • Joe said on August 14, 2012
    please provide details on how to open a money remittance business in ireland
  • sudhakar yadav said on September 19, 2012
    Hi, I am from INDIA....and I want to start a FOREX trading company in Malaysia. So, please guide me to set up a FOREX trading co. with all the requirements and the fees structure for that.
  • preeti said on September 29, 2012
    i am planning to start a foreign exchange business in mumbai so could you let me know what all we should look out in the matter of license and initial deposit for license what is the amount to be deposited with RBI. and how much should be the monthly profit
  • keatile sebinang said on October 7, 2012
    City Gaborone Country Botswana. i would like to start digital currency exchange, please guide
  • Juned Qadri said on October 17, 2012
    hi, I am from Mumbai & want to start a Foreign Exchange Business. plz help me with the procedure
  • jithesh pattathil said on October 22, 2012
    Hi , My name is jithesh, i am working with ironfx in cyprus , If you are looking for trading in currencies/ wants to be an introducing broker kindly email me with your details. Regards jithesh
  • Pritha Deshpande said on November 2, 2012
    Hello, This is Pritha Deshpande, Pune and would like to start a business in Foreign Exchange wherein we exchange rupees with foreign currency while going abroad, etc. Please help me out for the same like expenses incurred, licenses, etc
  • kamlesh bagrecha said on November 26, 2012
    Hi, my name is kamlesh bagrecha, staying at vashi, navi-mumbai, i am planning to start FOREIGN EXCHANGE business at my place but dont have any idea to proceed, pls help me out with the procedure for the license formalities.
  • tarun aggarwal said on November 28, 2012
  • Andrew said on November 29, 2012
    Hi, I am looking for a business plan to start a forex bureau, can you please tell me where to get one? Thank you
  • Ashok said on December 16, 2012
    I wanted to set up the forex business in Delhi India, please help me the all proceedings, requirement and cash flow requirements. Regards, Ashok
  • Levi Watumande said on January 9, 2013
    I am planning to start a forex bureau business in Busia at kenyan Side of the border from Uganda.
  • Mariam said on February 1, 2013
    I'd like to open a foreign exchange business in Johannesburg, South Africa. Kindly advise. Thanks
  • georgio said on March 9, 2013
    I would like to open a foreign exchange business in you have any information how to start and what license is required . Thank you
  • Mohammad Ismail said on March 10, 2013
    I am having a licensed money changing company which is running actively in Kuala Lumpur, Malaysia. I would like to offer for investment and partnership. Should anyone be interested in this business, contact me for further discussion please. Thank you
  • solomon porus said on March 15, 2013
    Hi, I am to start foreign currency exchange business in chennai, any existing company for sale is available or go to start a new one where to get apps and procedure
  • MIDHUN SEBASTIAN said on March 20, 2013
    we are a chain of backpacking hostels in kerala. we would like to include foreign exchange in our services. please help me out to get enrolled in this business.
  • Pam said on April 3, 2013
    I would like to start a foreign currency exchange business in South Africa. What are the requirements? Thanks
  • Dilip Timblo said on April 5, 2013
    Could you connect me to an IT consultant in Mumbai or Delhi who can provide the software and the hardware to set up the business of foreign currency exchange.
  • harpal singh said on April 13, 2013
    i want to start foreign exchange business in zirakpur ( distt mohali ) punjab.. what r the requirements.. plz help me with this.
  • Saleem said on April 21, 2013
    Hi, I want to start a Foreign Exchange Business. plz help me with the procedure,In Anantapuram, Andhra Pradesh, India
  • bablu kumar said on April 23, 2013
    Hi, I want to start a Foreign Exchange Business and i'd like to get license for money exchange. plz help me with the procedure, In patna bihar, India. please tell me. i am already running a travel company in bodhagaya since 5 years.
  • amrit krishnani said on April 29, 2013
    i want to start forex business in india? what are the requirements for starting this business? how much amount i have to invest for starting this business?
  • Abraham beginner adviser said on May 1, 2013

    It is not possible to get a forex license in India or Philippines..but there are scores of other places where you can have licenses without moving from  your seat || Expert

  • Abraham beginner adviser said on May 2, 2013
    Dear @Rufus, First you need to understand that FX is a global Industry and is the biggest in the world.If you need your fair share you need to plan ahead
    1.Choose the platform
    MT4 is the most popular. You will need a white label or fully licensed one. White label will along with its master cabinet and MAM will cost you around $ 10K..and fully licensed one will cost you around 80K. There are other platforms too..Ex C trader for ECN structure. If you are a white label most of the head ache will be cleared by your clearing FX broker. If you want to be a Premium broker. You need to have a tier 1 Liquidity provider, MT4 Bridge provider, You need to have a Risk management team. Are you aware of the A book and B book and C books. You cant handle risk then you need to outsource it for a profit share.

    You need to have payment gateway to accept debit and credit cards. you need to have EU company registered to have PSP. In south africa the regulatory body is FSB Please let me know ..these are some of the many steps included in starting a FX brokerage. Plus you need to have substantial client list and full fledged marketing strategy including SEO and an employee strength of minimum 10. Regards Abraham @ || Expert

  • arun said on May 8, 2013
    We can help you set up your forex firm and all licensing requirements. We will provide training on risk management and setting up further franchises. Contact me at
  • vincenzo alaimo said on May 19, 2013
    I would like to open a foreign currency exchange business in USA, can somebody advise me with the formation of the company, software, and licenses. thanks, v.a
  • S MURUGAN said on May 26, 2013
    I am living Harrow city in UK. I was decided to open a foreign money exchange center in above area. Please how to start a foreign exchange business in UK? how much I need to invest for the business? what are the rules and regulation. How, where and what type license I need apply? Please can you tell me from the basic? Thanks a lot.
  • Rashid said on June 11, 2013
    Sir, My friend want to start foreign currency Exchange Franchise. where i want to contact in kerala.
  • Biju said on June 17, 2013
    @Rashid, Pls send a mail to or contact 09500030099 (Malayalam)
  • azlan said on June 20, 2013
    I am thinking of setting retail fx business in Malaysia, could you guide me the key initiatives & key critical factors to ensure it is a successful venture. What would be the key impediments and obstacles that may arise moving forward.
  • Subramani said on June 29, 2013
    I want to open foreign currency exchange business in Moreh Town ( INDO- MYANMAR Border) in Manipur State. India, I want to do in legal what is the formalities to get a license in India.
  • Dipesh Virani said on July 17, 2013
    I own a office in the city centre of Dombivali (Mumbai), Need to set up foreign exchange business, For those who already have their business set up can call me for selling their business or franchise. MOB: 9930159289/9664365289
  • fily said on September 6, 2013
    am in kampala uganda an i want to start forex b help and give me all the details on my email
  • R. Robertson said on September 9, 2013
    my business location is cape Town south africa. where can i apply for a forex trade license?
  • tonny430 said on October 24, 2013
    Mohammad Ismail: Hi Mohammad, I am tonny and I am from Malaysia, I would like to invest in your money changer company and partner with you, kindly email to for further info.
  • Alex Kirby said on November 6, 2013
    I can help people set up a foreign exchange business. I work within the Solutions division of Ebury Partners, and specifically target those that are looking to start their own FX business. There is no initial investment, and our business model can be very lucrative. For more information, contact me on +44(0)2036649671 - or drop me an email on
  • samkayo said on January 7, 2014
    my business location is Nigeria. where can i apply for a forex trade license
  • ANN said on April 15, 2014
    I would like to do currency exchange business how?
  • Thomas said on April 29, 2014
    I want to start a currency changer business and need to know all about it. Please contact me if you have any knowledge about this business. Even if you have valuable knowledge I will try to make it valuable for you as well in any way I can and will offer some partnership or deferred fees for coaching/consulting. People posting please be aware.
    #1 a "Forex TRADING business" (commonly referred to as "forex" has absolutely NOTHING to do with currency exchange, and merely betting on the changes in exchange rates."
    #2 a "forex business" is generally a company providing the tools and accounts for traders to do this kind of gambling.
    #3 a "currency exchange business" HAS NOTHING to do with forex MT4 brokers nor other forex speculation companies, who are merely there to earn commissions and fees when you place bets on movements of currency values.
    I am looking for info on the currency exchange--money changer business.
    DO NOT contact me if you are some Mt4 forex trading company.
    My email, Lets do some business!!
  • Christine said on June 2, 2014
    Is it possible to open an bank account in Mexico Peso in US region? My boss ordered me to find out how to open currency exchange business in US. Please help me!
  • said on June 5, 2014
    wanna start a forex currency exchange business here in Papua New Guinea, please i need help of a detailed business plan with sample financial plans. thanks
  • Kabir said on June 10, 2014
    I am Kabir from bangladesh want to start foreign exchange business..please share the process and
  • Alex mwansa said on June 16, 2014
    I have the desire to open a Bureau De Change in my Town and wish you can send me a complete sample of a Business plan
  • Dan said on June 24, 2014
    I am interested in opening a Currency exchange store in Canada. Where do I source my cash on hand and make sure I am buying at the right time? Opening a store location and getting the business regulated doesn't seem all that difficult but I have so many questions on where am I able to purchase foreign currency and make a good enough margin to resell.
  • ASFAQ MIRZA said on June 28, 2014
    Hey I AM FROM SURAT ( GUJARAT ) & I want to Start Forex Currency Exchange In my office but i dont now How to get License Of it.. plz Any one tell me with complete information that in which palace i can get MONEY EXCHANGE LICENSE? You can Call Me @ +91 8487944286 Or mail me @ Thanking to you
  • vaibuav said on July 10, 2014
    Sir, already half of the set up is available for money changing business, need help for detail study and how establish money change business. will appreciate if you guide me in details. for this I am ready to invest first in detail training. Thanks.
  • Mary Lolchoki said on July 10, 2014
    Am planing to start a Forex Bureau in Narok Kenya. I have never worked in a bank neither do I have any clue in what happens in a Forex Bureau. Please assist me how to go about it and what are the requirements.
  • showkat said on July 16, 2014
    i am so much interested about the business. but, i don't understand what should i do now? please help me.
  • Zahid hassan said on July 26, 2014
    Can you give me idea to do this work? I am very interested to do this business, so guide me please. Thanks. ..
  • Bhanu Pratap Singh beginner adviser said on July 26, 2014
    I am forex trader and been an employee in forex brokerage companies in top management. I have an experience of this business since 5 yrs I know about the best regulations and how to do this business with best break even time received and having a vast forex network with clients if anybody interested to become partner with me in the turn key solution of this business than pls feel free to contact me at and +639274900777 kindly send sms or text before calling. || Consultant

  • Flavia said on July 27, 2014
    I am planing to start an online currency exchange between UK and Brazil only. I am doing my research and I am working on my business plan. During this process I can not find out which type of mid-market to use when I need to send the money to Brazil. I know that banks in The UK are not working with money transfer companies that easy any more, so I dont know how companies do to send their client's money from UK to Brazil when needed. Can please any one help me with this information?
  • omoding Peterson said on August 5, 2014
    Kampla Uganda. Set for me the objectives of opening up a forex bureau in Uganda
  • santa beginner adviser said on August 13, 2014
    hello young entrepreneurs ,we are consultancy help you to start own forex brokerage company which makes a billionaire with low investment and no loss project. please feel free to contact || Consultant

  • Ruhail said on September 22, 2014
    I want to start fx broker company in any country if any one has good info plz send to my
  • kumar said on October 3, 2014
    dear rahul please contact us we are in this business since 5 years we can discuss once your interest
  • SATYA PAL GUPTA said on November 3, 2014
    I am interested to do business in foreign exchange under RULES & REGULATIONS laid by RBI INDIA. DARYA GANJ , DELHI , INDIA
  • habib said on November 26, 2014
    how can i get foreign money exchange license?
  • narendra kothari said on November 30, 2014
    how to start currency exchange business in mumbai. how much is the investment required for this business
  • Nagaraj said on December 7, 2014
    Hi, I am planning to start a Foreign Exchange trading business in India, Bangalore. Pls. suggest and what is the investment required.
  • Chris said on December 22, 2014
    Wish to start a Forex Currency Business in Solomon Islands. I need your help with a detailed Business Plan with sample Financial plans. thanks
  • Yashu said on January 1, 2015
    Hi, I am indian. I am interested to start currency exchange trading business in dubai & Nagpur Pl suggest and what is the investment required. Yashu
  • Jagdsih said on January 17, 2015
    Hi, I am from Singapore and interested to invest in money exchange business in Ahmedabad. I am aware of the requirements and procedure for the setup. Looking for possible partnership JV in this venture. Email me at for discussion.
  • Stanley parackal said on February 17, 2015
    Hai. Am working as a forex cashier at dubai. I am planning to start a forex business in india. Can anyone help me and guide me what all things I need to do for this.
  • harish said on March 3, 2015
    hi i am from Bangalore i like to start money exchange business i wanted to know what are the problems we have to face and how to over come i need your help
  • ahmad khan said on March 18, 2015
    i want to start a new business of forex, only dollar exchange ,for license what is the process and how much fund is required please help me
  • Harison Web Nirman Pvt Ltd said on March 18, 2015
    We provide A-Z turnkey broker setup solution. We have setup over 15 brokers so far and still growing, some of them are highly successful. For any inquiries related to broker setup, licensing, kindly contact to my email or call me at +91-8867396716
  • sanjeevkumar said on April 30, 2015
    Sir I want to start foreign currency exchange pls mail me how can i take license in Karnataka
  • Kuldeep said on June 22, 2015
    want to start a foreign currency business in delhi india , how to get a license & how much money is required to start
  • kumar said on June 25, 2015
    i got your mail about forex brokerage company setup if interested on it please mail me
  • murugan said on July 9, 2015
    Sir I want to start foreign currency exchange business in tamilnadu tuticorin and sivakasi license details and good business idea
  • mohammed ahmed said on July 21, 2015
    i have very good office at kannur town, i am interested to open money exchange with travel business. kindly give us the advise and how to get the foreign exchange license (india) your reply. highly appreciated. thanks...
  • shaik jeelan said on August 25, 2015
    i am interesting to open foreign currency exchange business in Andhrapradesh so kindly advice me the which license i have to apply where i have to apply
  • Shubham Agrawal said on August 26, 2015
    Sir, I want to start a forex business in uttrakhand. so i want to know about its procedure to start up this business.
  • Gaurav Sharm said on September 21, 2015
    Dear Team,want to open a Forex business in Meerut ( Uttar Pradesh)I just want to know the procedure to open and also want to know that how to Get the License.Regards Gaurav.
  • hameed said on October 2, 2015
    Sir I want to start foreign currency exchange business in tamilnadu nagercoil, how to get it license and want details and how many rupees need this
  • Hassan asiimwe said on October 13, 2015
    Thanks for your advise.but i also want to start up aforex beaux business in uaganda,i have my registered business company with acerticate of incorparation.wat do i need now to proceed with my plan,and with how much money minimum.
  • Hassan asiimwe said on October 13, 2015
    My plan for the business in forex beaux is in uganda,kampala,I want at arua park.I have a business company name with certificate of incorporation,which else do i need to start and with how much minimum.
  • Sudip Mondal said on October 24, 2015
    I just want start foreign exchange business in Kolkata so what I have to do and how much money required for this.
  • Mohamed said on October 31, 2015
    I am thinking of starting a foreign exchange bureau in Sierra Leone.Please help me with some tips and steps to follow.
  • adhi said on January 6, 2016
    I just want start foreign exchange business in chennai(tamilnadu-india) so what I have to do and how much money required for this.


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