Forex Turnkey Solution is the fastest and cheapest way for an aspiring individual or group of entrepreneurs to set up and start their forex brokerage business within 2 weeks’ time; that too without required to have much technical knowledge and involvement.
Forex Turnkey Solution helps you to start your forex brokerage on the go. It is in the literal sense is the fastest way for you to start your fx brokerage business hands-off.
When an individual or a group of people intend to start their own forex brokerage business, they usually have a limited budget and technical expertise; on top of it, they want to start yesterday so that the revenue starts coming.
That’s how most of the retail forex brokerage businesses start and run.
A good Forex turnkey solution helps start-up brokers to go live within 10-15 days at the lowest cost that we will discuss ahead. This means they can start onboarding the clients (forex traders) start within a week or two of initiation of the brokerage setup process. Their clients can deposit the funds to their trading accounts and start trading in their favorite trading instruments be it forex pairs, crude, gold, metals, indices and crypto.
What is a Forex Turnkey Solution?
A complete Forex Turnkey Solution for forex brokers comprises different end-to-end brokerage formation, set up, and operating solutions. It consists of services like company formation, bank account opening, forex license, and forex white label along with broker CRM, Traders Room, Logo Designing, Broker Website, Business Emails, IB & Affiliate system, Payment Gateway & Liquidit providers integration, etc.
Key Components of Forex Turnkey Solutions
- Company Formation
- Bank Account Opening
- Forex License from a broker friendly jurisdiction
- Forex White Label Solutions (MT4 White Label, MT5 White Label, cTrader White Label etc.)
- Forex Broker CRM and Traders Room
- Broker Website (end-to-end work of domain booking, SSL, logo designing, website designing, hosting)
- Business Emails
- Introducing Broker aka IB & Affiliate and Referral Management Systems
- Forex PAMM Software
- Forex MAMM Software
- Trade Copier Software
- Liquidity Provider
- Payment Gateways
How does the Forex Turnkey Brokerage Solution work?
Here is the step by step process following which a forex technology provider delivers the fx solution;
1. Offshore Company Incorporation
The very first step is the Company formation from a jurisdiction that allows forex brokerage business. UK, Belize, St Vincent & Grenadines, Seychelles, etc. are some of the popular countries that give forex licenses and help brokers set up their business.
2. Bank Account Opening
When the company is formed, the bank account opening process starts. We have noticed that some forex brokers skip it as they are going to use other alternative methods of payment transactions. But it’s highly recommended that you get a bank account for your brokerage business.
3. Forex Broker Technology
Forex white labels like MT4, MT5, or cTrader applications are low-cost solutions for start-up brokers. Which FX white label to choose is entirely up to you and your target clients? Here you need to do little research on which trading platform they prefer.
These 3 steps are essential of a turnkey forex brokerage solution without which you cannot and should not go live.
4. Forex License Application
Most forex license consultants we have spoken to suggest defining your forex company jurisdiction and target countries from where your clients will be and see whether it’s mandatory to get a forex license to operate your brokerage. We have noticed that some forex brokers just skip the license part initially and start directly. As they grow the business and get the confidence, they apply for a forex license. We highly recommend that you get the forex license right at the beginning to avoid any legal complications.
5. Broker CRM Integration
While some forex brokers work with the Manager Terminal and Trading Terminals directly some brokers take the help of a good Broker CRM. It helps them with lead management, client onboarding, deposit & withdrawals, reporting, serving, etc.
6. Forex Broker Payment Gateway Integration
Whether you want to deploy traditional payment solutions like bank wire transfer, credit card, debit card or want modern age payment modes like Cryptocurrencies, Skrill, Neteller, etc, you need a good Forex Broker Payment Gateway Integrated with your Broker CRM.
7. Broker Website designing and hosting
is another important step in setting up a forex brokerage business. A broker website is their online office where their showcase their services and other important info. You must get one for your forex brokerage. Every good forex turnkey solution provider offers website designing and hosting with their packages.
8. Business Emails creation
You cannot miss on business emails for key personnel and departments like support, marketing, sales, etc.
9. Integration with Liquidity Providers
While you might want to run a B Broker business, your trader clients may not like it. If you are looking to start an A Book brokerage business, you need to integrate with a reputable forex Liquidity Provider.
10. Delivery of FX Brokerage Solution
As soon as the forex white label is issued, everything is set up and delivered to the broker.
And they are good to start on-boarding the clients.
These 10 steps are an essential part of a turnkey brokerage solution. But as a brokerage grows, they want to expand its offerings. All good forex brokerage turnkey solution providers offer these solutions.
11. Forex PAMM Software integration
12. Forex MAM Software integration
13. Forex Trade Copier Software integration
14. Forex Digital Marketing
Forex Turnkey Solution Cost
There are some really outstanding Turnkey brokerage solutions providers serving brokers across the globe. Some of them have specialized offerings like MT4 White Label, MT5 White Label, or brokers CRM and they are essentially Brokerage technology solutions developers.
But many of them indeed provide end-to-end Forex Turnkey Solutions.
They take care of everything right from the company formation to the payment solutions and managed fund software.
To the best of our knowledge, the lowest Forex Turnkey Solution Cost is USD 3999 per month without any upfront setup fee. It’s a forex broker start-up package that comes with company formation, MT5 White Label, Broker Website, Payment Solution, IB & Affiliate system, and Chat App integration.
5 Key Benefits of a Forex Turnkey Solutions
1. Low Start Up Cost
As mentioned above, with the help of start-up forex Turnkey brokerage solutions, one can start their own brokerage business for as low as USD 3999 per month without any upfront setup fee.
2. Fastest Set Up Process
A Forex Turnkey solution provider can set up your forex brokerage business within 15 days and you are good to start onboarding your clients. If you had to do everything on your own, you would need at least 6 months’ time.
3. No need of Technical Knowledge
Although forex trading as we know is totally online and run on technology. A good Technology Infrastructure is at the core of all OTC Forex Brokerage businesses. One simply can’t imagine running a brokerage business without good forex trading software, tools, and applications. Despite being a tech-heavy business, one can run a forex brokerage firm even with no technical knowledge. A good forex turnkey brokerage solution provider can set you free from technical nitty-gritty.
4. You can focus on Marketing & Promotion
Since a good forex turnkey solution takes care of the technology part, a forex broker can focus solely on marketing and promotion to acquire clients for the business. This is really a big advantage.
Forex Turnkey Solutions are really scalable. One can start with key components of a brokerage solution and add new forex software, tools and applications as the business grows.
We intended to give a clear what is turnkey forex solution, its key components, cost, and benefit for a start-up forex broker. Hope this article did justice.
Most, if not all, entrepreneurs who intend to start their own forex brokerage have limited resources in terms of experience, expertise, budget, and time. A good turnkey FX Solution can significantly speed up the start-up process reducing the cost at the same time.
There are numerous reputable forex brokerage solution providers that provide end-to-end turnkey forex solutions. You need to be a little cautious while selecting the fx solution provider.
They are not just going to be a vendor or broker technology provider but a partner of your business. And you need to treat them like that.
Here is a simple yet effective method of finding and keeping a good fx solutions provider:
- Get in touch with at least 3-4 turnkey forex solution providers
- Share your requirement in details
- Observe their response in terms of patience and listing capabilities. If they show patience and attention to you, it’s a good sign.
- They should be able to CONSULT you about what you NEED for now.
- Get the DEMO of trading platform, broker CRM etc and see how good they are how you are going to manage it. Do they have all the features you may require, are they user friendly etc.
- Get the best price
- Negotiate on the price and deliverable. There always is room for more.
- Select the one suit you best.
- Pay them on time.
Please feel free to contact us for any queries. We will be happy to help you.