What Should You Know About Becoming A White Label Broker?
Starting a white label forex broker is an exciting business opportunity. Still, as with any business, it makes sense in the first instance to do some groundwork on how to become a white label broker. Once you have done your research, you will need to find the best white label forex broker solution.
You will find the first steps will be determining the best white label trading platform, as well as the best technology provider offering the best back-office and CRM for your business.
Most well-known forex brokers have started as white labels and gradually built their way towards the utterly independent operation of their firms. At the same time, many continue to use a white label provider.
White label forex solutions are challenging to develop. They require top-level security features, they need to be compliant with all of the financial regulations, and they need to work correctly with all the existing trading exchanges. It takes a team, including brokers, traders, marketing experts, to develop a successful platform solution.
The process is so complicated that a standard IT & Dev company wouldn't even want to dabble in the creation of one.
A white label solution makes it easier to enter the market. Popcorn Technology will be glad to assist you through this process.
Operating a white label brokerage does not differ much from running a regular forex brokerage.
Questions You Need to Ask
You will need:
- Branded Website,
- Branded, customized platform
- Seamless incorporation of technology
- Support around the clock
- Ability to integrate third-party providers
- Marketing toolkits
- Great support services
- Ability to offer clients a 'sub white label.'
- Client Relationship Management system
- Back Office reporting and monitoring program
The most significant advantage of becoming a white label broker is that you will not need to begin from scratch. You will reduce startup costs, development time, and get a tried and testing reporting and analysis system. You will not have to reinvent the wheel. The services provided by a reliable white label solution provider will assist you in partnering with payment providers and liquidity providers. A white label broker solution will also help you with third-party services, including regulatory reporting, KYC, and VOIP providers.
Due to the lengthy processes and complexities involved in setting up a Forex brokerage from scratch, many companies prefer to opt for the forex broker white label solution.
A white label turnkey solution is an ideal opportunity to start a brokerage business quickly, without high costs and to onboard the latest technologies in response to client demand. Popcorn Technology offers a full broker solution.
It is more cost-effective and efficient to access a provider's CRM and back-office solutions, rather than develop, new software geared up at persuading existing clients to remain with the broker and for attracting new clients.
Here's a guide on how to start a forex brokerage firm.
The Time And Money
You need to consider how much it will cost for you to use a platform.
Will you be charged monthly, or will you be paying once only?
Will there be any additional costs of implementation or maintenance?
What about support?
You also have to consider how long it will take to get it up and running as in business; time is money.
Popcorn Technology provides you with a fully branded MT4 platform.
The white label trading platform that you select will decide the technology used. The technology of your forex program should be quick and effective. It should be responsive and easily used on any type of device.
When considering a prospect, don't forget to think about the platforms they offer.
If it works on mobile, does it work on both iOS and Android OS? What about Windows OS?
The MT4 platform from Popcorn Technology offers a WebTrader, a Mobile App, and a downloadable version.
The technology should also work well at the back end of the business and other systems that you may be integrating.
The Training And Support
The white label forex platform solution provided by Popcorn Technology offers complete training sessions for users of their service. It may be over a voice call or a video call and ultimately orients the user on the service and how they can use the features and the back-office. If you run into any issues after that, there should be support services that are dependable and reliable.
The Marketing Tools
One thing that many platforms offer is the benefit of taking care of some of your marketing needs. You need to assess the marketing help that they are extending to you.
Will your name be displayed on your provider's Website?
Will they help host your brokerage firm's site?
Ask about all these things because they could make a difference in whether or not you choose a particular platform.
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