The forex market has millions of active online traders throughout the world. The currency market is functional for 24 hours throughout the weekdays, allowing anyone and everyone to participate in trading irrespective of their location and time zone. Hence, stepping into the forex world as a new broker can open up a lot of business opportunities on a global level. But most people believe it’s near impossible for a beginner to own a forex brokerage as the amount of investment needed to launch a brokerage or trading platform is huge for a newbie.
That’s why we have brought this informative guide where you can learn about white label forex solutions with which you stand a chance to become a trusted forex broker with minimum investment.
What is White Label Forex?
White labelling is a popular practice allowing new businesses to establish their brand name with minimum investment. With white label solutions, a new business gets to sell the product or service offered by another leading business as their own, under their brand name. This is a very economical solution for easily entering the business world. White label forex is also quite similar as an established popular brokerage allows the new broker to use their platform and technology for providing trading services to their clients. The technology provider broker will keep the new broker customising the platform and brand it as their own.
With white label forex solutions, the cost of setting up a brokerage and trading platform will be greatly reduced as you just use a readymade solution to build your brand. There is no need to develop these software systems from scratch, and the software and website used by a leading broker will be way more efficient and reliable than a new website. You won’t need to hire technicians and developers as your primary broker, or forex white label provider will carry everything from setup to platform maintenance.
But, if you go down the traditional route of setting up a trading platform all by yourself, you will have to buy a licence for offering MT4 and MT5 solutions to clients and most of the time, purchasing these standard trading softwares as a brokerage will result in heavy cost burden. When it comes to forex white label packages, MT4 and MT5 trading platforms have become a lot more affordable, as they are already integrated with the top brokerage you choose as your white label provider. It’s a win-win for everybody since new brokers don’t have to include them separately, and traders can also trade any instrument on the best trading platforms. Hence, those who wish to integrate MT4 and MT5 platforms with their broker websites can surely consider the white label solutions that fit your requirements.
What is the Price of White Label Forex?
The total cost or price that you pay for a white label solution will vary depending on the broker you choose and also the number of services offered by them. There will be an initial setup cost and monthly platform maintenance that needs to be paid by the new broker. The forex white label solutions are the most affordable compared to the capital investment needed to start as an independent broker without any backup.
But this does not mean white label solutions are cheap, as running any type of business will incur some cost in one way or another. But the most cost-effective white label solutions would cost around $10,000 in the first stage, which includes the initial setup cost and platform maintenance charges.
What Are the Benefits of White Label Forex?
- Better IT Infrastructure
Firstly, white label forex solutions cover everything related to the technicalities of trading platforms, including providing a fully functional white label trading platform and IT infrastructure. The platform is already tried, tested and used by many traders. Hence, you can feel at ease that your clients will get the same seamless trading experience that the clients of this top broker have been getting.
- Can Fully Focus on Branding and Promotions
Since all other aspects of launching and running a trading platform, customer support and more are handled by the white label provider, you get more time to focus on branding and promotional activities to expand your client base as a new broker. Some white label providers also have training programs for new brokers and will also assist you in branding, platform customisation and promotional activities. Building a brand name and image is crucial for attracting traders to your platform, and white label forex solutions make it easier for you.
- Saves Time and Money
When you start a new brokerage, doing everything on your own will take a lot of time, and the cost burden will also add up, making the initial setup process challenging for a newbie. But forex white label solutions allow a beginner to launch their platform sooner, that too with minimum investment.
What Features Should a White Label Trading Platform Have?
- Should Be Stable and Fast – The white label trading platform should be stable and fast in all situations. There should not be any delays or technical issues that can make the trading process hard for clients. Ensure the primary broker is ideal for all types of traders and capable of providing a safe and smooth trading experience and solid trading conditions.
- Should Have All Basic and Advanced Tools – Beginner traders will be looking for a user-friendly interface, basic tools, and features like trading calculators that they can use easily. On the other hand, modern traders will be looking for more advanced tools to help them take their trading to the next level. So, the white label trading platform should have all such tools and features to cater to new and seasoned traders’ needs.
- Should Be Customisable – Customisation and branding are very important aspects of a forex white label solution. Hence, the white label trading platform should give enough options for customisation along with broad branding possibilities.
What Features Should the Platform Provider Have?
- Responsive Customer Service – The platform provider should have a responsive customer support team to solve the problems of clients in a responsible manner. Good customer service is key to success as a new broker. Hence, you need to look for this while choosing a forex white label provider.
- Security- Make sure the white label provider meets all your requirements in connection to the security and safety of the platform operations. You will depend on the broker for most brokerage services; hence, you should be able to trust them with everything from funding to withdrawals and their privacy policy about handling clients’ personal information. This is especially relevant if you opt for a partial white label solution where the white label provider will accept and handle client deposits on your behalf.
- Regular Updates – An outdated trading platform can be an immediate turn-off for your clients. Hence, you need to make sure the platform provider you choose will keep introducing regular updates to advance the platform for a superior trading experience. This will be useful for attracting more clients to your platform as a new broker.
Conclusion
To sum it up, starting a brand new forex brokerage and making it a successful venture takes work for everyone. But choosing the right white label provider can make the process a lot easier and unambiguous for a beginner in the forex brokerage industry. Forex white label solutions are perfect for a new brokerage to get started with minimum investment and an experienced broker to guide you throughout the process. With the support from a reputed and top-tier white label provider, you will surely find your own footing and get success as a forex broker in the long run.
