forex white label
20 May 2022

Choosing white label forex – Full Guide

Contents

  1. What is white label forex?
  2. What is the difference between the white label and the introducing broker program?
  3. What are the benefits of the white label forex?
  4. What is the price of white label forex?
  5. What features should a white label trading platform have?
  6. What features should the platform provider have?

What is white label forex?

Forex white label program is a software as a service model that includes a trading platform in white-label mode (adequately branded) and the back office panel for brokers to manage user exposure, groups, trading instruments, leverage settings, and many more. In some cases, the white-label plan also includes a liquidity agreement.

White label broker vs introducing broker program?

The introducing broker program is a system of interaction between brokers and introducers. The goal is to introduce the broker’s services to new clients, and IBs are compensated for each new client they bring in. Simply said, the IB is the person who acquires clients for brokerage houses through his network, websites, blogs, and social media campaigns.

In comparison to IB, White Label (WL) has a distinct goal and a more intricate approach. The WL is a forex brokerage that operates under its brand name and own regulation. Based on an agreement with the brokerage, the Forex WL business collaborates with an existing forex brokerage firm (or trading platform provider) to gain access to the fx platforms and liquidity. Liquidity also could be sourced from another provider.

The White Label program is suitable for companies with a strong market position or entrepreneurs with a strong marketing plan who want to become forex brokers and operate in their niche on the market or well-known region. To be recognized as a White label partner, you need to have a significant client base and generate reasonable trading volumes. Depending on the business model, WL brokers earn from A-book or B-book settlement models.

What are the benefits of the white label forex?

Outsourcing of the IT infrastructure

A broker’s technical infrastructure and most popular trading server licenses are expensive.

Using cloud-based solutions can lower licensing, ownership, IT infrastructure, and maintenance costs. With no server-side software or hardware to install, the white-label solution is easy to integrate and instantly scalable.

Additionally, while using outsourced technology, you do not need to worry about  IT stability in your company. Your systems, data, and network are all up and running, reliable, and secure, allowing you to focus on your daily business without worrying about IT.

Easy entry into the market and flexibility

In comparison to building your platform from scratch, a quick start with a white label model can save your new business a lot of time and money. The ability to use the latest technologies in a subscription model may be a suitable option, especially for startups. In many cases, platform providers propose tailor-made solutions so the end product can be adjusted to the customer’s business requirements.

What features should a white label trading platform have?

The best platform is one that fits all traders’ needs, where your clients can build trading strategies and conduct transactions on preferable instruments under one roof.

Definition of the best trading solution can vary for different individual investors and depends on their particular preferences. However, we can point out the most crucial features you should consider before choosing the platform. 

The most important requirements that the trading platform should fulfill are:

  • good user experience
  • essential trading tools and additional features
  • broad branding possibilities

Good user experience 

Remember, the trading platform is the core of your business. Your future clients will interact with the platform more often than with your brand or website. It should have a good UX and UI experience.

Essential trading tools and features

The more features your platform has the greater possibility of attracting new clients. It’s a good strategy for brokers to differentiate themselves and meet clients’ demands by providing them with a platform with the best functionalities. For example, the XOH Trader platform is equipped with additional features such as Hots, Market Sentiments, Calendar, News, Heatmaps of markets, and many more.

Broad branding possibilities

Many WL partners care about the ability to customize the look and feel of the platform. In most cases, technology providers only offer color and icon customization. In X Open Hub, you can not only customize the login panel and platform view settings but also place your own applications in stores with your company’s logo.

What is the price of white label forex?

If you want to start your own forex brokerage, you’ll need to budget carefully. The most cost-effective approach is usually a white label solution, which eliminates IT infrastructure costs.

The pricing per bundle with the most well-known provider of trading technology starts at $ 3,999 per month. The smallest bundles at X Open Hub start at $1,000 per month.

As a result, the cost of starting a brokerage with a white label solution will be directly proportional to the services you choose.

What features should the platform provider have?

The trading platform provider should provide flawless customer service and should be ready to address feedback and possible bugs

Over the past decade, customer expectations have changed dramatically, raising the bar for customer service. Good tech support should pay attention to customer feedback and pass that information on to the development team. In X Open Hub, each customer is assigned to a dedicated customer manager with 24/5 support.

The partner should provide a stable and safe solutions

When it comes to crypto and FX trading solutions, how consumer trades are handled and safeguarded is critical. Always request details about the solution’s security and read the vendor’s privacy policy. It’s also a positive indicator if a corporation makes its records available to the public.

The platform should be updated and developed

Reputable software companies evaluate the market and upgrade their solutions to satisfy client demands. Hotfixes and additional features should be implemented regularly. Platforms should be updated frequently to fulfill security standards and work flawlessly on the newest operating systems.

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