There is no such registeration as an on-line brokerage firm, in order to be a brokerage firm you must register with the SEC as a broker/dealer, As a broker/dealer you can provide on-line services to your customers. In addition you will need membership in FINRA along with all the principals and sales reps of the firm
You will need to deposit capital into your bank account or in the account of your clearing firm. The amount that you must deposit depends on the type of registeration you have as a broker/dealer and the type of business you want to do and with whom you want to do it.
My firm was a full service broker/dealer along with being a registered market maker, however I was a member of several exchanges so my capital requirement was a little higher
To be just a B/D doing business with the public and I needed $250,000 in Net Capital, since my customer trades were clered fully disclosed I need a clearing which required $50,000 just for a deposit.
Data lines and communications just for servicing the general public cost another $50,000. In addition I needed capital for exchange fees and membership dues.
My trading activity required additional $25,000 in addition to the amount of monies that were required in both the market maker and specialist account
Auditing fees cost at least $25,000 each year, Insurance for customer accounts was another $15,000, with another $10,000 in memebership and license fees for federal, state and local agencies.
To be a broker/dealer providing on-line service will cost you about
$500,000 - 250,000 just for net capital. I didn't bother listing all the other expenses that you will have to meet.
Before you do any thing, you have to learn what a broker/dealer is and you're not there yet, you are clueless
Before you even consider opening a brokerage firm, you have to know what you're doing, and judging by the wording of your question you have no idea wht you're doing or what a brokerage does or how it does it.
"A Nobody" is right when they said "there is no such thing as a registration for an on-line brokerage firm" -On line is a type of service NOT a type of brokeage firm.
Also most of the cost they told you about are very real and most of them right on target.
Before you even think about what licenses you need, you better consider how much you know about the industry, because you're not even close to having your own firm
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1. Gather suitably qualified directors (Finance, Compliance in particular).
1a. Get accountant to prepare financial statements etc. and lawyer to iron out any legal requirements
2. Apply for corporate membership of the exchange/s you wish to operate in.
3. Accumulate funds to cover running expenses and capital adequacy requirement.
4. Hire staff and/or clearing facility.
5. get software to run dealing platform on line (or buy readymade platform. Also software to run on-line payments.
5a. Contract to receive price and other data from stock exchanges/ option exchanges and whatever else you want to offer.
6. Get on-line clients (loads of them!!)
7. Raise more funds to cover huge losses as you get enough clients to break-even point.
I have probably missed a lot and it may be easier in USA rather than my UK example.
Of course an easier way would to buy an existing broker with no on-line presence and go that route. Let me know if you want to do that as I can help you out.
Penny stocks, also known as cent stocks in some countries, are common shares of small public companies that trade at low prices per share. They are notoriously risky but if you follow a special method I've learned you can earn good money at almost no risk. This is the site I use: http://pennystocks.toptips.org
I definitely recommend subscribing to this site in particular. Very good research, quality stocks. I was a bit weary of penny stocks from all the bad hype they receive but this guy is pretty legit. He's put my mind at ease with a lot of the fears I've had. I especially like that he doesn't send out announcements left and right. I've signed up for other websites that fill my in-box with one company after the other. I don't know where to even start with so many choices in front of me! Nathan sends me one idea a week and that's all I need. Working so many hours during the week leaves me with very little time when I get home to start doing tons of penny stock research. I'm always eager to see what Nathan's next suggestion is each Friday and I love having time on the weekend to do my research.
As said above if you want to make money with penny stocks you have to follow some proven methods. This one in my opinion is the best: http://pennystocks.toptips.org
Regards
If you don't know you probably shouldn't be doing it.
So you think that question is just a messageboard answer?
It's really possible to make money with trading online, specially with binary trading. You have just to know where to learn... and I know the best source ( http://forexsignal.kyma.info ) This course explain everything you need to start a very profitable trading activity. Before you "learn" to day trade you first must understand the markets, the products traded in the markets and the rules you have to follow to be in the market. You have to learn what to do, why to do it, when to do it and how to do it. If can learn all of this then and only then can you day trade. Before you day trade you must be able to trade. You also need a written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself. You also need sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you can trade/invest. It is more imperative to have a written money management program in place. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested and a good understanding of the rules
You need much experience, capital and licensure. Barriers to entry are high.
What licenses do you need? How much would it cost? Etc
