White label (WL) platforms help businesses and brokerage firms thrive in the financial market in a short period of time by lowering the entry barriers and providing technical solutions that would take longer to build from scratch.
The market for ready-to-use platforms is growing, with more features and functions that you can use with WL platforms, such as digital and crypto wallets, payment gateway processors, trading platforms, and more.
WL platforms, also called turnkey solutions, are pre-built software by providers who program and develop systems specially made for exchanges and brokers in financial markets.
The turnkey solution is customised by the provider to your preferences and choices, and all you have to do is brand with your logo and name and launch your services.
You may develop your own software if you have adequate knowledge of a skilful developer team to build the program for you. However, this may take months, while WL providers can deliver your software in a much shorter time.
Finding a Reliable Turnkey Solution For Your Exchange
Determining the right WL solution may be challenging because there are many provider companies that deliver similar solutions. However, there are a few factors that help you decide the best Forex solution provider, including the following.
- Check the provider’s experience in software development and financial markets. It is crucial to find a provider who knows market dynamics and helps you understand what you need for your business. Moreover, it is important to ensure that your preferences and features are applicable to the WL platform they deliver.
- Check the reviews and reputation of the WL provider and inspect the working quality of their software. This helps you build expectations about the platform or service that you will receive.
- Ensure the level of customer support they deliver and check how and when they deliver support service. This is crucial in case you face any troubles navigating through the platform or if anything goes wrong to have their technical support assist you anytime.
- Familiarise yourself with the features and functions that the provider can add to your solution. It is essential that you find tools and functions that most traders use and those which traders will require in analysis, trading, reporting, processing transactions, and payment methods.
- Check and compare the fees they charge for their service and if they offer different packages for different budgets. You can also compare the fees of different providers and choose the one suitable to your expectations and budget.
Advantages Of Using a WL Exchange Platform
There is a reason why these platforms are becoming increasingly popular in financial markets. They power newly emerging platforms with several benefits to thrive in the market, including.
- Time-saving: WL platforms save the time and money of hiring a developer team, onboarding and training them, and then building a platform of your choice. White-label solution providers can deliver your platform in a shorter period of time.
- Personal customisation: Building a platform yourself can be limited to the skills you or your team acquires. However, white label providers usually employ high-skilled individuals who can customise the platform according to your preferences and choice of features and designs.
- Customer-oriented: Getting your technical side handled by a turnkey provider helps you focus on the business core and customer service, which helps you grow your business and scale to more markets, instruments, and customers.
WLs are the key to a quick entrance to the highly competitive financial markets, such as Forex, crypto, stocks, and more. A WL solution provider can help you cut the time building and developing platforms yourself by delivering ready-to-use software that you just need to add your name and brand before launching.
However, not every provider is a reliable one, and you need to conduct in-depth research to determine the right white label provider for your exchange.
The above-mentioned checklist will help you determine the right provider while researching, which can eventually help you grow your brand and thrive in the thriving financial industry.