Launching a White Label in 2023

Author: Albina Zhdanova

Financial markets nowadays offer many opportunities for starting a business.

Going down the White Label (WL) route is a popular choice for many aspiring and experienced brokers. As a WL broker, the technical side of the business is completely taken care of, thanks to a reliable partner, and one can solely focus on growth and development.

Key steps of launching a WL

At TFB, we work with many prospects looking to become a White Label broker, so the process we’ve designed to help them get started is well-optimised to be fast and not waste time.

Here are the key steps in the process of launching a WL with TFB:

• Confirm that a potential WL broker has a registered company.
• Fill in the documents required for the KYC.
• TFB forwards the documents to the trading platform of choice for verification.
• Prepare setup and conduct onboarding while the documents are being processed.
• Sign a contract with a Liquidity Provider (LP) if the broker requires A-book.
• Set up a CRM system with the help of TFB or individually. This step usually takes extra time, so we recommend brokers start researching in advance.
• Once the KYC approval is received, we finalise the setup and everything else required for launch.
• The WL broker goes live.

The process takes 1-2 weeks on average, but it may differ depending on individual circumstances.

Choosing the trading platform

The multiplatform trend started in 2022 and is here to stay.

After the complications that some brokerages went through, it’s become clear that working with multiple trading platforms is more secure and provides additional flexibility to traders.

At the moment, Tools for Brokers offers its White Label clients two options:

• MetaTrader 5
• cTrader

Each platform is compatible with the Trade Processor liquidity bridge and unlocks access to a branded server, easy access to Liquidity, a data feed for 400 symbols, 24/7 technical support, and other benefits.

To learn more about each platform, please read our dedicated article about all trading platforms TFB provides at the moment.

The choice of trading platform is to be determined by the WL broker, but the current trend shows that those who go with multiple options will have a competitive advantage over those who don’t.

Changes to SVG’s FSA regulation

The Financial Services Authority (FSA) of Saint Vincent and the Grenadines (SVG) has announced a change for local companies that engage in forex business activity.

All potential and existing WL brokers based in SVG have until March 10 to provide a certified copy of licenses from jurisdictions where their business activities are or will be conducted.

This means that if a broker’s business is registered in SVG, but they provide services to clients in regions where licenses from authorised regulators are required, such brokers will have to provide proof of having those licenses to the local SVG FSA.

This policy change was approved in response to the growing number of complaints about local businesses. While it is a positive change that will help make the market safer and more transparent for all of us, it can create temporary issues for WL brokers looking to expand their business activities.

Final thoughts

The White Label model offers many benefits, such as rapid market entry, resource saving, and an entirely ready infrastructure. This journey will require time and training from the broker’s side, but with a reliable partner, setting up and managing a WL brokerage can be a smooth and pleasant experience.

If you’d like to learn more about how TFB helps brokers set up a White Label, please email us at sales@t4b.com.