October 1, 2020
What is Forex White Label Solution?
White Label Solutions constructs a forex brokerage firm to a non-existing or an existing company under its own logo and brand. There are two ways this solution can be provided: to build a business from scratch; or receive specific services for an already existing business. However, in this article, we will be talking about how white label solutions can be helpful in building businesses from scratch.
White-labeling can be useful in building the businesses, without having to put the resources into development, providing them with products/services in a much faster and cost-effective way. As the reseller, you’ll be free from concerns about needing to spend time and money on research or development of your business. You can add your own logo and branding, and get back to business.
White Label Solutions first identifies all the base and latter needs of the business, then it moves onto the next step by gathering all the pieces to build up the business providing services, such as MT5 online trading platform, Branding, CRM, and Customer Support to get you started. In the below section we will be explaining what each of these services will mean to your business and how you can have FTD build a professional forex brokerage company for your start-up.
What is offered in White Label Solutions Program?
1.MT5 Online Trading Platform
MT4’s next version MT5 has come out in 2010, which was built after 5 years of the creation of MT4. This version of the new trading platform came with its advanced indicators, fundamental analysis tools, and market orders which can be accessed through your computer, phone, or web-based (web-based may require an additional cost). It allows you to monitor your open positions, making your trading experience more manageable.
Acquiring White Label Solutions will give you access to the MT5 trading platform for your upcoming or existing company. Once you have FTD set up the MT5 manager under your own brand and logo, you will be able to make desired adjustments, such as the determination of spreads, designation of leverage levels across different products, adjustment of markups, and further feature details are listed below:
- Customizable symbols & customer groups & commissions;
- Available on any mobile, desktop, and web;
- 38 technical indicators, 44 analytical objects, 21 timeframes, and an unlimited number of charts;
- Daily & Monthly Statements Reporting System;
- Deep Liquidity Pools;
- Depth of Market
- Economic calendar delivering news from various countries, that may have an impact on financial instruments prices.
2. Customer Relationship Management – CRM
CRM, which stands for Customer Relationship Management, is a type of system that allows you to organize the customer data and keeps track of your sales progress. It is crucial to have such a system to keep track of your company’s operational movements in place as if you were to expand your business, setting up the company’s foundation sturdy from the beginning would put you ahead of your competitors.
CRM adds extra simplicity and efficiency in today’s business world by offering such features as:
- Lead Generation & Management
- Demo and Live Account Management
- Management and Creation of customer groups
- Extraction of custom reports on individual and customer groups
- Assign tasks to different departments
- Sending bulk email and message option to customers
- Control of applications with sales and compliance screens
- IB (Introducing Brokers) management system
- Client web portal
- Management of support ticket
- PSP (Payment Service Provider) integration and payment management
Via CRM and its tools, companies are now able to understand more about their target audiences and how to meet their expectations.
The goal is simple – to improve business relationships.
3. Company Brand Building
The first impression sets the bar either high or low and for that reason, we believe in building a brand with every little detail thought is extremely important. In a digital world having a website and setting it up properly plays a big role if you want to stay in your customers’ mind as professional. Besides that, we don’t only think about the front-end of a website to be professional but the back-end of it also defines the functionality and quality of your brand.
The services we provide during the brand-building process are listed below:
- Creation of a website
- Content writing or displaying the provided content by the customer on the site (this part is up to the customer)
- Setting up the Google tools to scale up your business by creating and linking Google Analytics, Google Search Console, and Tag Manager
- Setting up business profiles across a variety of social media platforms, such as FB, Twitter, Linkedin
4. Customer Support
Throughout the whole process of building your forex brokerage business, afterward, while managing it, white-label solutions services will provide the companies who received our services will have constant customer support, eliminating any issue that the businesses may meet during this process, also offering IT support to coordinate each department to run daily business activities without any setbacks.
After asking “what is a white label?” you may now be wondering why anyone would choose to become one. There are numerous benefits of white labeling, hence we will underline the main ones:
What are the benefits of White Labeling?
1. It is Quick and Easy to Brand
If you are thinking about starting a new business or adding new features to your business White Label solutions can be beneficial. Because White label solutions are generally fully integrated and ready-made, it makes branding simple and straightforward. As the reseller, you’ll be free from concerns about needing to spend time and money on research or development.
2. Saves your Time and Money
Building a business from scratch can take a large amount of financial and human capital resources — not to mention time. In this matter, White labeling will save the business months of development time which can be used to boost your business, or you can spend it on more productive and important activities for the future development of the business itself.
White labeling requires a small investment of time and money, unlike trying to do everything on your own, so investing in an existing solution may be more beneficial in the end for the business in terms of time and capital saving.
3. Gain a Competitive Advantage
Businesses can gain competitive advantage by getting white label solutions. First of all, businesses start right away in the best possible way with the help of professionals. When the products start to earn a positive reputation, the customer loyalty starts to solidify. Getting a competitive price, CRM and customer management support from the right institution can also help the business to avoid the same mistakes that others have made before you and to gain a competitive advantage.
4. Your Brand gets in Front of the Customers
If you aim to build your brand name rapidly,white label providers offer a quick and easy way to get your brand name in front of potential customers. Since the customers see your brand name on software, products/services, your brand gains reputation and becomes reliable and trustworthy. The white label provider’s name does not show up anywhere on the product.
Building a business is hard and often destined to fail or be with many imperfections. In case of getting white label solutions, you just pay for the expertise and enjoy the quality work. If anytime, anywhere something goes wrong, the white label solutions provider, such as FTD Limited, take care of the work for you, eliminating every problem that you might face during the business-building timeframe. You do not need to worry about all the stress most entepreneurs meet during the time of building their business.
What to Watch Out for in a White Label Solutions Provider?
1.Their Products/Services are Underqualified
Most probably, you are getting white label solutions to add quality to your work and add benefit to your customers. So, make sure you act in the best interests of your customers and choose the provider, who offers quality work for building your business for may be a little bit higher price, but you avoid getting bad service during that times. This way eventually it will be more efficient and cost effective for you, since changing the provider in the middle of the work can be time consuming and cost more.
2. They are Inconsistent with Communication
Bad communication between you and the WL service provider can lead to problems that can build up and end in broken customer relationships. Since, the providers are creating the services/products/softwares for your customers from your brand’s name, you have to make sure you understand each other well with the provider, hence they get the right idea of what you want and act in the best interests of your brand.
3. There is Little Brand Consistency
Make sure your White label solutiona provider knows your brand and how to represent you. If it is the right provider for your business, they should get to know your business in order to bring the right product/service/software for your customers, in this way you can build your business from scratch in the best way possible and avoid imperfections. If you have specific standards or procedures for how to treat your customers, do not settle for any less, since the services your provider will get you show the level of quality that you bring to the table.
As you can see it is beneficial to acquire White label solutions for a non-existing company with a prospective to run a brokerage firm because it only takes 1-2 weeks to build your business from ground up with all the tools needed to start. It saves you time, resources and maintenance work if we were compare to do all that on your own.
However, once you become a reputable company with an extensive customer portfolio, you may no longer want to be dependent on someone else. In that case, you could leave your White Label Solutions Provider and build your own brokerage firm with no strings attached. However, initally starting your brokerage firm with a White label solutions provider will be a great warm up while you test and learn the all aspects of how to run a brokerage firm.
We hope this article helped you to understand more about the white label solutions.
If you are interested in getting the services described above, FTD White Label Program might be the one for you.
We realize how tense and stressful building a new business might be, so we believe this kind of collaborations will break down the traditional way of starting a business from scratch, providing our customers with high quality products and services in much faster and cost-effective way.
In our next article, as the continuation of this topic, we will be talking about how the existing businesses can acquire white label solutions.
Wishing all our readers a good and profitable week!