What goes into a good White Label offer
Author: Ivan Egorov
There are many White Label (WL) solutions out there. So when a broker decides to start a WL brokerage, they might be overwhelmed and not know where to start.
Ideally, a broker’s main focus should be acquiring clients and growing volumes with everything else taken care of by the WL provider.
Any White Label offer is based on the trading platform that is usually available to the broker at a fraction of the total license cost. So, apart from access to the trading platform, what else should we look for in a White Label offering?
There is no need to settle for a tool that requires significant manual labour. We see it sometimes with brokers who are only starting their WL journey settling for less automated solutions. That might work when they only have a few clients, but this quickly becomes unsustainable. With many tasks and lots of data coming in daily, it is easy to make mistakes and forget about things altogether. So to avoid financial and reputational losses, it is best to look for a fully automated solution from the beginning.
A comprehensive solution means that all your immediate broker needs are covered, as well as having room for future growth. When looking for a WL deal, consider not only your current circumstances but longer-term plans too. How many clients are you planning to acquire in 5 years? Would your current provider be able to sustain those numbers? How many markets are you looking at entering? What additional services and tools might you want to offer to traders down the line?
Built-in loyalty program
A ready-made system saves a broker’s time and helps increase earnings with little effort. A good loyalty program would include options to build multi-level structures and support scaling.
While it is unnecessary to have access to all Liquidity Providers (LPs) operating on the market, it is good practice to sign with a WL provider that works with at least several LPs. It’s easier to achieve the best pricing when there are multiple LPs to choose from.
Ideally, there should be specific settings and configurations that brokers have access to in their WL environment. There are some changes that the broker can easily make directly, but they take a longer time to resolve if they need to go through the support team.
24/7 technical support
As obvious as it seems, truly 24/7 professional support is not always available in WL packages. Yet, it is vital for a broker's success to access help if and when needed. So, before you go into demos and quotes, make sure you fully understand how the support will be provided. Is it by email or phone? Do you need to log tickets every time? How long does it take to get back to you?
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