What is Forex Broker?
It offers a trading platform and other brokerage services to the traders. The white label forex brokerage is usually self-employed, but they have adopted the practices that are been set by the forex industry. He is also known as a retail broker or currency broker. With the invention of the internet, many white label forex program brokers have offered their clients a platform and applications that can be electronically handled through a platform. Forex broker task is monitors and assists his investor’s clients with the current situations in the forex market. He also assists his clients with the conversion rates of currencies so that they can trade. They can very easily and quickly make updates and changes to the trading platform as they have full control over the trading platform.
Services Offered by Brokers
- He helps his clients to buy and sell assets for earning a commission.
- He can easily make changes and updates to the trading platform.
- He has full control over the trading platform
- He assists the clients and investors about the latest market trends.
- He gathers information and do research work for the clients
- He helps clients to earn profits
- He helps his clients to understand price movements.
- He enables their clients to access accounts.
- He enables his clients to trade through an electronic platform.
- He has more control over the forex business than the white label provider.
- He also offers his clients with customized trading software.
- He offers trainer trading programs and gives advice to his clients about trading.
- He professionally handles and manages his client’s accounts.
Why Forex White Labels Should Become A Broker?
The first step to for the novice in the forex business is to become a white label Forex provider. It is very easy and reasonable step to start up a forex business. But if you want to grow your business more you need to become a broker from a white label service provider in the forex industry.
- Broker’s Have More Control: Brokers have more authority than the white label provider to handle forex business. Changes and updates in the trading platform can only be made by the Forex broker. A White label service provider is not liable to make any changes or updates to the trading platform as they are bounded by broker partners restrictions. A white label service provider cannot add any new features to the trading platform if they deem to but on the other hand, a white label can do it without any restriction.
- Setup: In a white label platform there is very little chance of customization as in it there is only a minimal setup involved. This is because they do not have a choice of the liquidity provider. On the other hand, a fully branded trading platform is used by the brokers to offer their clients with a wide range of financial instruments. Moreover, a broker can choose from a wide range of liquidity providers. Also, brokers have full control over the trading platform.
- Revenues: The average revenue of the broker is more than the white label service provider. This is because a white label service provider has to pay 50% of profits of his profit to their broker partners. While on the other hand, the broker gets 100% of their profits because they don’t have to share it with anyone.
- Sales And Marketing: A White label service providers have to work very hard to attract the customers. On the other hands, the broker doesn’t have to work hard to attract the brokers because they get the higher profit that white label service provider. It is easy for the brokers to attain and retain the customers because of their profit. b
- Trading Conditions: A white label service provider has a very little control over the trading platform. On the other hand, the broker has full control and access to the trading platform. Moreover, the broker can easily make updates and changes to the trading platform while the white label service provider can’t.
- Future Growth: For the white label service provider there are minimal opportunities for future growth as the trading activities are governed by your broker partner. While on the hand, the broker has infinite possibilities as they have full access to the trading platform and any such bodies do not govern them. Moreover, a broker earns more revenue than the white label service provider.