How Do I Choose A White Label Trading Software Provider For Success?
Forex trading and online forex brokers have been in the business news a great deal lately as the forex industry expands, and global transactions have exceeded $7trillions daily. Hedge funds and banks do most forex trading, investment houses, and businesses the exponential growth in the industry has made forex trading popular and seen an increase in forex brokers. Many forex brokers have successfully become publically traded companies with worldwide client bases and global reputations. Not so many years ago, this business was shunned by investment houses and money managers. Today these same investors are buying up the shares of these companies.
Many independent business people and start-up organizations are finding that there is significant profitability in operating a forex brand or multiple forex brands.
What Do I Do First?
So now you want to ask yourself what do I need to know to become a successful forex broker. Understanding how to take advantage of this opportunity cannot occur through standard academic means. There is no school offering hands-on forex trading or management know-how, so nearly all successful players in this market tend to learn everything that they know about the realities of foreign exchange on the job.
One of the first ways to answer your questions and to learn is to find the perfect white label trading software provider, such as Popcorn. You will find that the customer support and sales services professionals can help guide you along your path. They can answer your questions, find the best solutions, and recommend third party providers. Information and guidance are the golden keys to successfully launching your forex brokerage.
One of the first and most important questions that you should ask is
What Are The Costs And Development Time To Launch A White Label Forex Label?
Keeping in mind that we are talking about a tailor-made, custom product, fully branded to my business practices/needs/culture and my clients' needs—from the platform through reports.
What Types Of One-Time And Ongoing Costs Should I Expect?
For example, will I have a development payment, plus a monthly support cost, plus a trading cost-per-million? How long will the implementation take? Will it be done in weeks, months, or years? Keep this in mind: Customizing and tailor-making the product for you may vary widely depending on regulatory requirements, reporting-feature needs, and the expanding market you are targeting. Some providers may not be big enough to do this work in a timely fashion—or at all. In this market, with the particular window of opportunity available, you will do best to be able to launch the business as soon as possible.
How Do You Make A Choice?
This is why choosing the right white label trading software is a critical decision that should be made only after doing the research and determining your exact needs. Make sure that you work with a white label trading software provider that works closely with you to guide you along your path. Popcorn Technology's staff are experts in the forex field with development skills, marketing knowledge and can help you with your branding and addition of third party providers.
Time and attention toward acquiring and optimizing the platform and technology must not be a headache and must instead be an extremely flexible and friendly process. The costs and time that you can save by choosing the correct partner can be used to focus on your business and marketing purposes. Your chosen white label solution must not be a significant investment, and at the same time, it must be the top and best product, because this will be your key selling point to clients.
What Technologies Are Essential?
It is also essential to consider that the technology you choose must have the option to evolve new versions and products, in a way that is maximally adaptable to market needs. This means that an open architecture must characterize your chosen technology.
You must be able to answer these questions:
- Does your chosen technology come with a back office?
- Can it be integrated with your existing back-office?
- Can the reports be adapted to my business practices,
- What about regulatory requirements and internal procedures?
- Can it also be integrated with third-party providers?
- And also, does this technology come with an API option?
Popcorn provides the complete MetaTrader 4 white label solution offering the most respected trading platform in the industry customized and branded to your specifications. The platform integrates directly with the adaptable Popcorn CRM for full client management and a dynamic back office that provides all the reporting and BI that you could need.
What Support And Training Does The White Label Trading Software Provider Offer?
The next question you need to be answered is about the ongoing use of the providers' platforms and technologies. Support and training are an ongoing process and are integral to your success. Success in this regard should not be focused on one-time training. Instead, it requires several training sessions and follow-ups to assure that the staff and the sales team can help all master it.
What questions should you ask?
- Will the training occur over the phone?
- Does the training include video conferences and webinars?
- Do you offer a set of how-to videos?
- What type of ongoing training is provided?
- Are there costs to train my key staff members?
If you choose Popcorn, they will conduct online classes, ongoing training, and provide step by step how-to guides and online videos. Training conferences can be arranged and can be recorded for future use. The support staff is available around the clock to help answer questions or guide you through a new report set up or to assist with the implementation of new affiliates of IB clients.
The staff will help with the integration of third-party providers and are generally available to help you grow and reach success.
What Do I Need To Do Now?
Remember, your white label trading software is your partner and share in your success. Popcorn Technology is the partner that you want to have. To learn more about Popcorn's programs and benefitsBack to blog