I actually work within the FX industry and there are still some options for unregulated markets and banking facilities. It is definitely not easy and the risk of being de-banked has increased over the past few years but there are a few ways around it. Typically with these sort of operations you need to have a few bank accounts open around the world just in case you get an account frozen, which has even happened to us as a major licensed FX operator.
Anyway, what you want to do is potentially take a look at a few of the other bucket shop operators around and potentially try and open an account with them to find out whom they are banking with. Then approach the bank directly or through a referral but be aware that they will very likely want to see an AML/CFT program in place, as well as a formal compliance officer, and a fairly professional operation. This really isn't a business where you can setup in your basement somewhere and steal someone's pricing feed.
You will also have the additional problem of getting liquidity providers on board, depending on your trading model, because oftentimes they want to see volume and minimum deposits in accounts for settlement. So to be competitive, unless you are running solely B-Book unhedged, you will need to put a bunch of LP's into a pool for trading access. This can be problematic for statups etc.
Probably the easiest option is to do a white label deal with another broker who can provide a branded MT4 platform and branded
bank account solution. Although you never physically get to accept the deposits, at least you are working under a licensed FX operator and can pick up the margin from your spread.
Anyway, that's probably as much info as i'm going to provide publicly as the banks definitely watch some of these conversations and I would hate to shut down a few unregulated brokers unwittingly.
