One of the earliest decisions you will make when starting a new brokerage is whether it’s better to use proprietary software or utilize white-label software.
When you are taking a gamble on a new business, it’s wise to keep initial costs to a minimum. However, this doesn’t stop the mind from wandering about what proprietary software could do for your business. Proprietary software can be an excellent choice, a unique system that can become a valuable asset to your company. However, it could also be a complete liability. Entrepreneurs that venture down that rabbit hole fail to realize that their product is untested. Trying to resolve countless technical issues while running a busy brokerage is a sure-fire recipe for disaster.
The financial industry is inundated with high tech solutions and products, and often they don’t integrate quite as well as one would expect. It can take months for a platform to start running smoothly. In the meantime, customers become impatient and move on to a competitor.
Let’s face it there are plenty of other brokerages out there.
So how do you stand out from the crowd with a white label trading platform?
It’s an important question and don’t be too disheartened, there is plenty of room for you.
Recipe for success with Popcorn
Your systems need to be robust and reliable. You must resolve and manage customer issues as quickly as possible. Your platform will be the face of your company, and it needs to integrate with all other areas of your business seamlessly. Nothing can slip through the cracks.
An excellent white label solution will provide all the tools a trader needs to get the job done while providing up to date information and rapid response times.
The first thing you should know about their white label trading technology is that over many years it has been tested, broken, improved, retested and improved again. MT4 is ubiquitous to the forex industry, and 80% of all retail traders use it currently. It will need little testing going forward and the infrastructure is very reliable.
It gets better.
Server maintenance and fees can be staggeringly expensive, but by utilizing their white label platform, these fees are avoided.
MT4 White Label Trading Platform
MT4 is packed with all the latest tools that your traders would come to expect from a top platform.
Tools such as:
- Real-time news feeds.
- Multi-currency support.
- Reliable data protection.
- All types of trading orders and MetaTrader 4 execution modes.
- Thirty indicators and 24 graphical objects for technical analysis including Fibonacci, stochastics and moving averages.
- Nine timeframes, from one minute to one month.
- Real-time quotes in Market Watch.
- History of trading operations.
White label means you can put your branding on their technology. A new face on an experienced system is a potent mix for success.
Effectively, they become partners.
From a business perspective, all of the above is priceless because it frees up crucial capital for you to invest in other areas of your business like lead acquisition, advertising or new employees.
White label services save you money and keep you from many of the problems that bury less savvy startups.
So, if you had the choice, how would you set up your brokerage?