The dynamic forex market is not just a place for traders trying to make profits from the fluctuations in the currency pair prices, the global OTC market also needs brokers and trading platforms for smooth functioning. Without brokers and technology providers, traders will not be able to navigate the decentralised currency market. Since brokerage services are always in demand, new brokers can join the space to make profits by functioning as a connecting link between the traders and the world’s largest trading market.
Even though many entrepreneurs and established business owners are keen to explore the business opportunities in the brokerage industry, they often shelve their plans due to the high cost, complexity and cutthroat competition involved in this business. One of the major challenges that aspiring brokers come across is the time it takes to build a technological infrastructure. If you are also looking for an easier way to establish your brand-new brokerage with cutting-edge technology, the MetaTrader white label solution can be your go-to option to move forward.
In this blog, I will introduce you to the forex white label solution which allows you to quickly launch your brokerage with a ready made infrastructure and also the benefits it offers to emerging forex brokers.
What is the MetaTrader White Label Solution?
When you think about starting a forex brokerage business, there are two routes that you can take. The first one is the traditional route which is costly, complex and time-consuming as I stated earlier. You will have to work with a team of experts to develop your own branded trading platform and brokerage website with all the essential features and tools. Since the MetaTrader platforms are the most preferred software solution among forex traders, almost every trader expects their broker to offer it.
Integrating the MetaTrader platforms to your business will add more to the total cost and you will also have to do a lot of test runs before the final launch of your brokerage. Besides this, you cannot stand out among other top brokers by only providing the MetaTrader platforms. You will have to customise your website and build your brand identity by paying close attention to all the details like theme, brand logo, brand name, brand voice, marketing and more. Because all of these factors play a key role in helping you with client acquisition.
Now a new broker may not be able to handle all these responsibilities all by themselves and not to forget the financial burden and risk that comes with inexperience. But with the MetaTrader 4 white label solution, you will be able to address all these issues and get started real quick without breaking your budget. The primary product you get by opting for a MetaTrader white label solution is a fully functional trading platform that can be rebranded.
The classic MetaTrader 4 platform will be integrated with the solution by default and if you want to attract modern traders by providing an advanced and multi functional platform like MetaTrader 5, you need to find a white label provider that also offers MT5 for multi-asset trading. Since it is a turnkey solution, you just need to pay for the initial setup and platform maintenance fee which will be a monthly expense for getting ongoing support from the owner of the technology.
Is The White Label MetaTrader Safe and Legit?
It is surely a safe and legit alternative when you choose a trusted broker as your white label provider. I will suggest you pick a regulated and reputed broker as that way you can easily comply with the industry standards for completing the legal formalities. You will be operating under the umbrella of another broker and hence they will be in control of all the technical processes. So, you won’t have to compromise with quality as your clients will be interacting with the technology that is being offered by the broker you choose.
The white label partnership can be very beneficial to beginners as you get an expert to support you and stay by your side. They will handle all the complex tasks on your behalf and you can simply focus on building your brand name and promoting your business. Surviving in the brokerage industry as a new broker and thriving while dealing with intense competition is impossible without a solid marketing strategy.
3 Reasons to Rely On A Forex White Label Provider For Your Brokerage Business
- Quick Setup – The first reason to depend on a White Label provider is the quick setup process which can often be completed within a few weeks. If you try to build a platform from scratch, it will surely take several months or even years. When you save time, you can enter the market faster and free yourself from the stress of doing everything by yourself. Because breaking into the forex market as an independent broker will not be feasible for everyone.
- Efficiency – The trading platform and website you get within the white label package is a turnkey solution which is already being used by many traders who have an account with the primary broker and perhaps even other businesses who have signed up as a white label partner for getting technical support. Hence, the efficiency will be enhanced as it is not something new but tried and tested by many.
- Customisable Trading Tools – When you select a suitable white label provider, they will also provide you with a bunch of essential trading tools that can be customised based on your preference. You will often see the MetaTrader white label providers offering rebranded MT4 and MT5 mobile apps, allowing the white label partner brokers to offer them as their own.
White Labelling and Liquidity
Many have this misconception that white label packages are only an alternative to getting superior technology at an affordable price. However many top brokers even share their liquidity arrangements with the new brokers to help them in providing solid trading conditions to their clients. Because at the end of the day, the success of a broker comes down to the trading experience that a user gets and this is greatly dependent on the order execution systems and costs that are incurred during the trading process.
Every trader wants to minimise the trading cost and execute their trades at the best prices with ease. If you don’t have access to a deep liquidity pool, you will not be able to execute the orders in time. Any delay in order processing or slippage can hurt their trading performance and trading results. By partnering with a reputed white label provider, you can avoid such risks as they will be able to provide better trading conditions which are essential for offering a seamless trading experience every single time.
Final Thoughts
In a nutshell, opening your brand new brokerage with the help of a MetaTrader white label solution is the best move to mark a successful beginning to your business. Some might argue that this dependence takes away the control from your hands but this alternative can give you a competitive advantage over other new brokers, improving your chances of success.
