The Forex market is enormous enough, giving an opportunity to the new players to enter the foreign exchange market and make a unique position. The already existing practitioners in this market of Forex are trying to guide and shape up the business of the new entrants. When an individual or group of individuals wishing to get into the forex business shall make up their minds as to whether they want to start their brokerage business by developing their own technology or by opting for a white label program of a broker/technology provider.
If you are starting your FX business with the technology and platform entirely different from your competitors, then you must have powerful leverage to attract the existing customers from your competitors. And along with this, comes the responsibility of marketing your business and making the latter and the website socially interactive. Instead of increasing your cost of operations and marketing, choose a reliable white label program, where you are served with multiple services at reasonable prices.
At Turnkeyfx we believe in helping you to explore the forex market and offer you with tailor-made and customizable features in all the aspects.
There are multiple benefits that come with White Label Solution:
- Fully-branded tailor-made platform
- Technology integration
- Back-end support to manage the clients’ accounts
- 24-hours market support
- Training sessions and webinars
- Access to liquidity Providers
- Marketing Toolkits
- Custodian services
- Option of providing ‘sub-white labels’ to your clients
However, along with these benefits, the underlying factors should also be considered.
Time and Cost involved in Implementation:
You must take into account that how much will the white label’s development cost you. Does the cost is charged for only one-time or will it be charged on on-going basis. You should also be knowing about the types of cost charged, like implementation cost, maintenance cost, support cost etc.
Other than this, the time to its implementation plays a major role. The implementation time may vary depending upon your target market needs, regulatory requirements etc.
Safe and Genuine Technology:
The platform chosen by you will determine the underlying technology. The latter’s execution shall be fast and efficient. Since the growing technologies are driving the world, the trading world is not kept aloof. Investors’ demands have shifted from the desktops to the mobile trading. White labels should enquire whether a particular platform is mobile based or not. If mobile trading is allowed, then it is available on which operating system- IOS, Android or Windows.
Along side, you must also ensure the integration of the technology with the back-office or your desired back office and to the other systems.
Training and Support System:
When you acquire a trading platform and its related technology then the provider must provide training to the staff of the white label. This training can be over the phone or through video conferences, which would impart the assistance and guidance to white label’s staff on the platform features and back-office. As and when your interact with new trachnology and platform, some challenges do come up, which is likely to be resolved by the customer support team of your technology provider.
You have the platform and the associated technology, but what about your marketing strategy. Being a white label, you must evaluate that how much of the marketing support will be provided to you by your technology provider. It shall be known that in what ways your provider can help in marketing your business. For instance, your brokerage firm’s name disclosed on your provider’s website, designing of your website by your provider etc. can be done by the provider.
The business model will help your clients know that you get ‘A’ or ‘B’ book capacity. The clients show interest in the prices and the liquidity you receive so as to execute the trades. You should be well aware about your business models because clients always want to trade in a safe, efficient and transparent environment.
With growing markets and increasing demands, FX white label solution can be termed as a successful venture, for it is the creation of comprehensive business platform. The money that you saved from doing all the hassle and making efforts in starting your FX business on your own, that money can be directed for marketing and operational activities for your white label. Choosing the right solution will help the partner in launching its business and meeting its ambition.