Forex White Label Solutions are the best turnkey brokerage solution available for entrepreneurs who want to start their own forex 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. This speaks for itself why aspiring entrepreneurs want to try their hands in the fx brokerage business.
The past two decades have seen exponential growth in retail forex traders’ participation. This has lured several professionals from within and outside the forex trading market to venture into forex brokerage business.
When someone decides to start their own Forex Brokerage Business which is actually a fully branded brokerage, they have
two choices for a Forex trading platform:
1. Develop your 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 is 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 an investment of USD 500,000 or more
2. Forex White Label Solution
- You can go with a Forex White Label Solution which is developed by some Forex software technology company and 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 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 managers and front-end trading panels respectively.
Benefits of Forex White Label Solutions
Here are 5 benefits that make Forex White Label Solutions attractive.
- Forex white label comes as turnkey solutions
- You can use your own brand with a Forex white label solution
- The monthly cost of a forex white label could be as low as 1% of developing own proprietary solution
- You can go live as quickly as in 5-7 days when you opt for a Forex white label
- The cost of testing your Forex business plan and seeing if the business succeeds is quite low with the help of Forex white label solution.
Best Forex White Label Solutions
When you look for Forex White Label on Google, you find the solutions of just one company in the first 2-3 pages who kind of holds monopolistic position but they are not the only Forex White Label Solutions available for forex brokers.
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 companies:
- Tick Trader developed by Soft-FX
- 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 or price 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.
As you can see, forex white label cost primarily depends on which particular solution you choose and who you actually buy it from. Forex broker solution providers not only sell forex white label but other forex brokerage tools and software as well 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.
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.
cTrader, Match-Trader, Utip White Label etc can be a great forex 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.
How to choose right Forex White Label?
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 you a straight answer to this question but we really don’t have any. It totally depends on what your long-term business plan is, who 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. 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 a list of deliverables
- Get the demo to get a 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 costs 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 the coming 6-12 months at least. Changing the FX White Label solution is quite a 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 live as soon as possible so that you can test your assumptions and adjust the business plan as soon as possible.