Choosing A Forex White Label Solution
If you wish to commence with a brokerage business from scratch, there are a lot of avenues you can opt for. Generally, the method of going about with every process and paperwork independently is usually done by entities that possess a high amount of investment capital and are well-versed with the entire procedure as such. A simpler and quicker alternative to that procedure is going for the route of a white label stock brokerage. There are several white label turnkey business solutions providers out there that offer different packages and software platforms. Today we’ll show you about what all aspects you need to look out for before you decide to invest in a white label trading software such that you can make an informed decision.
A Robust Trading Platform
The most crucial aspect of the brokerage that your clients will use to conduct their trades and transactions is the trading platform.
A good trading platform needs to have strong analysis tools, accurate pricing, and multiple opportunities to invest. All these are quite complicated systems that need an enormous amount of data and require robust programming to back the trading process. You should ensure that your white label software has a very adaptable trading platform which permits you to modify the layout to your taste in terms of colors and styling. More importantly it should also consist of all the trading tools you wish to offer, the assets you want to participate in and the analysis tools you require.
A CRM or Customer Relationship Management suite is what maintains your actual and prospective customer data and contact platform and hence is a very important component of your business’ back office solutions.
Once you have a large customer base maintaining their data can get quite cumbersome. This is where an effective CRM software can do wonders in making data management a breeze. While opting for White label Forex CRM providers you should look out for a system that optimizes your expenditure on customer interactions, support, and marketing efforts. It should also preferably cover all the modes of communication I.e. Phone, email, and chat.
While not necessary, having a host of additional service features bundled with your white label turnkey package are sure to enhance both your client experience on the platform as well as things from the operational side from your end.
A few of the important additional features to look out for are the presence of an Integrated Web Trader, Mobile Trader, Payment Service Provider, Copy Trading Capabilities to name a few. Of these the Mobile and Web Trader suites make a lot of difference to your client’s usability levels as it allows to them trade with more freedom.
Effective Risk Management
This aspect is often overlooked by most who are looking to invest in a white label brokerage platform. However, we always stress on the fact that having a proper Risk Management setup in place is an absolute necessity more than an obligation. As a broker you should always keep in mind the fact that you can only jeopardize the amount of investment you can afford to lose.
Considering the trade volume you will be working with through your growth chart, it is necessary you can very easily put yourself in a predicament beyond that level. Hence having an effective risk management suite in place will allow you to view real-time dashboards to give you a better comprehension of your risk position, your trader’s activity, and the market situation by analyzing the collated data.Back to blog