Forex White Label Solutions are the best turnkey brokerage solution available for entrepreneurs who want to start their own fx brokerage business.
Forex Trading market is the largest trading market in the world with an estimated daily volume of USD 6.6 Trillion which should be more than 10 Trillion Dollars in Sep 2021.
The past two decades have seen exponential growth in retail traders’ participation. This has lured several professionals from within and outside the forex trading market.
When someone decides to start own Forex Brokerage Business; a fully branded brokerage actually, they have two choices for a forex trading platform:
- Developing own Trading Technology right from scratch. It’s quite tedious as;
- You need to have a vast understanding of how Online Forex Trading works which are quite cumbersome.
- You need 6+ months’ time for development, testing, and beta launch. That’s a big cost if you think it that way.
- It may take the investment of USD 500,000 or more
- You can go with a Forex White Label Solution which is developed by some forex software technology company, tried and tested by other brokerages and traders. It could cost you as low as USD 1000 per month and you are good to go live in instantly in comparison to developing your own trading platform.
WHAT ARE FOREX WHITE LABEL SOLUTIONS?
Forex White Label is a software package solution that comes bundled with a Manager panel for brokers to manage user sign-ups, traders groups, and trading instruments & leverage settings, risk and exposure management, etc. along with a trading platform for clients or traders with trading instruments, live price quotes, charts, and indicators, order book, etc.
These are typically called back-end manager and front-end trading panel respectively.
A forex white label is actually a sub-license issued by an Admin or Server license holder. For instance, in the case of MetaTrader White Label Solution, only MT4 or MT5 Admin license holders can issue fresh MT5 or MT5 white labels respectively.
What makes Forex White Label Solutions attractive?
- They come as turnkey solutions
- You can use your own brand
- Monthly cost could be as low as 1% of developing own proprietary solution
- You can go live as quickly as in 5-7 days
- Cost of testing your hypothesis and seeing if business succeeds is quite low.
Best Forex White Label Solutions
When you look for Forex White Label on Google, all you find are the MT4 or MT4 White Label Solution Providers in the first 2-3 pages but they are not the only Forex White Label Solutions.
There are other Forex White Label Solutions too like cTrader by Spotware, MatchTraders by MatchTrade, Utip White Label, etc.
Here is the List of some popular Forex White Label Solutions brands
- MT4 White Label developed by MetaQuotes
- MT5 White Label developed by MetaQuotes
- cTrader developed by Spotware Systems Limited
- Match Trader developed by Match-Trade Technologies
- Utip White Label by Utip Technologies Limited
- M4 developed by ModulusFE
FOREX WHITE LABEL COST
Forex White Label Cost varies depending on which FX White Label Solution you choose and who is the provider.
A fully branded Forex White Label from Spotware (cTrader White Label) or Match-Trade Technologies (Match-Trader White Label) cost you as low as USD 1000 a month. A fully branded Forex White Label from MetaQuotes like MT4 & MT5 White Labels cost you USD 3999 monthly charges without any upfront setup fee.
As you can see, forex white label cost primarily depends on which particular solution you choose and who you actually buy it from.
Let us explain in little more detail.
If you are looking to buy MT4 or MT5 White Label Solution, you can’t buy it directly from MetaQuotes. You need to get it from resellers or forex brokers with MT4/MT5 Admin License.
They will provide you with other forex brokerage tools and software that are essential to operate an efficient Forex Brokerage Business.
These forex broker tools include Forex Broker CRM, Brokerage Website, Traders Room, Payment Solutions, IB & Affiliate Modules, PAMM, MAMM Modules, Trade Copier etc.
The lowest cost for an MT4 or MT5 White Label that we could find is offered at USD 3999 in monthly charges without any setup charges.
There could be additional charges based on the additional brokerage software and tools you go with. Do check the additional costs with your brokerage solution provider in advance to avoid any unnecessary surprises in the future.
- MetaQuotes enjoys kind of monopoly position as far as Forex White Label Solutions goes with their state of the art forex brokerage and trading solutions; MT4 and MT5. But these are not the only option for an entrepreneur when planning to start own Forex Brokerage.
cTrader, Match-Trader, Utip White Label etc can be a great alternative to MT4 and MT5 White Label and come at a far lesser cost.
As mentioned above, a fully-branded Forex White Label from Spotware (cTrader White Label) or Match-Trade Technologies (Match-Trader White Label) may cost you as low as USD 1000 a month without any setup fee.
And these forex white label solutions also come packed with forex broker tools include Forex Broker CRM, Brokerage Website, Traders Room, Payment Solutions, IB & Affiliate Modules, PAMM, MAMM Modules, Trade Copier, etc.
The best thing about going with these Forex White Label Solutions is that you buy them directly from the company. You can expect the best solutions and faster bug fixes from them as there is no middle man to go by and waste time in bureaucracy.
CONCLUSION
Now the million-dollar question is; as an aspiring Forex Broker, which Forex White Label to go with?
Trust us we would like to give a straight answer to this question but we really don’t have any. It totally depends on what your target customers are, what their level of education in terms of online forex trading is, and what’s your budget.
The smart way to pick the best forex white label for your own brokerage is;
- To speak with your prospective clients and see which trading platform they prefer. In our experience most of forex traders are still hooked up to MT4. Some of them may like MT5 or cTrader too. List down at least 2-3 different Forex White Label
- Get in touch with respective Forex White Label Solution providers and get the quotes along with list of deliverable
- Get the demo to get the sneak peek into the brokerage back end and get a clear understanding of how you are going to manage it
- Double check for any additional cost and terms and conditions to avoid any unpleasant surprises after you go live with your fx brokerage.
- Do pay attention to how they respond to your queries and objections. If they are not listening and patient now, they sure won’t be going ahead. And you will need a lot of support especially when starting up.
- Choose the one that looks best with your current situation. But do take into consideration where you want to be in coming 6-12 month at least. Changing the FX White Label solution is quite tedious and cumbersome job.
Last and the most important point, don’t overthink and get handicapped with analysis paralysis. After all, starting own Forex Brokerage business is the same as any other business venture with similar possibilities of success and failure.
Choose the one that looks suitable and go alive as soon as possible so that you can test your assumptions and adjust the business plan as soon as possible.