The current economic climate is on everyone’s mind. The pandemic is grinding on, the Chinese continue to pressure Hong Kong and Taiwan, and now there is a coup in Myanmar. The Doomsday clock is closer to midnight than at any other time in history.
It all creates instability and volatility. So, how do you know, when is the right time to start a brokerage or any other business for that matter?
The short answer is there never is a good time to start a brokerage. You simply cannot predict the future.
The right way to commence a brokerage
If you want to do trading right, there are some ways that are must to follow. To start a new brokerage with less risk. Less chance of losing a significant sum of money. The process is termed white labelling.
An understanding between two organizations for a beneficial partnership is White Labeling. The larger, more experienced company produces services and products that allow others to use them like owners.
White labelling is, without a doubt, the cheapest method to develop a solid ground in the industry. It means a new brokerage can avoid expensive testing of new software, and there is no need to waste money on marketing an unproven product. A brokerage can commence its processes and start working in only a couple of short weeks with all the tools and services of a more seasoned brokerage at its disposal.
Popcorn Technology provides solutions for start-up brokers such as a platform for trading and support from the back office. These systems are mature, capable and functioning. Requirements? A logo, and the enthusiasm to take on this market. When using Popcorn Technologies services you are capable of taking on new customers as soon as you start.
Their products are brandable, which means your brokerage can maintain its own identity and values. It can remain independent while trying to forge its own reputation within a very competitive industry. Next, you have access to an expert team that has guided many other brokerages toward success. Overall starting a brokerage becomes a much less daunting prospect knowing you do not have to figure it all out by yourself.
Software – White Label
Solutions for start-up brokers are critical, but the trading platform you provide your clients is arguably even more critical. An optimal method to present your brokerage professionally is to use standard tools that already exist in the market.
The trading platform of choice is MT4, and its popularity remains untarnished. It has proven reliable and extremely robust over several years. Your future clients have heard of it, trust it and most likely use it.
Some of the features of the platform include:
- Availability of news feed in real time
- Supports multiple currencies
- Dependable protection of data
- Allows varied trading facilities and execution modes like MetaTrader 4
- Upto 24 graphical items for technical analysis. Ranging from fibonacci to stochastics and moving average. Close to thirty indicators.
- Time frames upto 9 from one minute to one month
- Market watch in real time
- Trading operation of history
New brokerages with exceptional prices, innovative products and world-class customer service will always be in demand, but you must first provide your clients with the products they have come to expect as standard. Popcorn Technology offers solutions for start-up brokers, and they know the MT4 platform has been key to their success.