Through a White Label solution, you can start a brokerage business without having to acquire the entire trading platform itself. Opting for a white label platform you rent out a section of the server, enjoying the same benefits as the server owner, but without having to foot the high bill for investing in the entire platform structure ownership and also avoiding the pains and hassles that come with the technical issues. In a nutshell, if your aim is to become a competitive forex broker your wisest route passes through a MetaTrader 4/ MetaTrader 5 White Label solution.
The MetaTrader 4 and its sibling the MetaTrader 5 comfortably top the list of the most innovative, fast and efficient trading platforms in the world. Both are developed by MetaQuotes, a company that is a world class leader when it comes to the development of trading solutions and trading software for brokers. Start-business-online.com can provide you with the best fully branded Forex White Label solution and ensure you get your MT5 or MT4 White Label platform at the lowest possible cost.
A tour around the best trading platform on the block
The MT4/MT5 trading platform White Label Program has been developed with the aim of assisting professional brokers and Introducing Brokers (IB) to start their own forex brokerage venture or IB agency. As such the white label program comes packed with all the necessary tools, as well as back office support. As it caters for all needs across the brokerage spectrum, this solution is equally suited for new entrants to the market as well as established, more seasoned players.
In essence, the right MT4/MT5 White Label Solution package will put at your disposal a complete, all-encompassing turnkey solution, thus lowering any barriers your brokerage might have faced for launching. The best part is that you can have that with minimal risk and at an affordable price tag.
Why should I choose the MT4/MT5 White Label?
- Low Cost Forex Market Entrance
- Branded MT4 Platform
- Cross-Device Compatibility
- Full Control over Accounts
- Compatible with any Liquidity Provider
- Low Cost Forex Market Entrance:
For your initial entry into the forex market the option of buying the entire server is nor wise, nor advisable and it would set you back a big amount that you could better spend elsewhere. By resorting to an MT4 White Label Program instead, you can get the high quality that is ensured when using an MT4/MT5 platform, which is equivalent to an industry standard and the platform of choice for the majority of brokers and traders alike, but at a small fraction of cost that would have been required had you chosen the full server ownership option. Faster and with greater cost effectiveness market entrance is thus the primary advantage of the MT4/MT5 white label solution.
- Branded MT4 Platform:
To be able to survive the fiercely competitive forex trading landscape it is imperative that you can fully brand your platform to be able to differentiate your offering and stand out among competitors in the eyes of potential customers. Through an MT4 white label solution you can enjoy a platform that is fully customizable and you can brand it how you want, using your own colours and themes to create that special feel and look that will impress your visitors and encourage them to become recurrent clients.
- Cross-Device Compatibility:
All the devices such as Desktop, Mobile and Tablet support The MetaTrader 4 platform is compatible for usage across all types of devices, including desktop computers, smart mobile phones and tablets. Thus, by using the MT4/MT5 white label solution, and with all compatibility issues resolved you can attract traders using any device and allow them to trade from anywhere, even on the go. This ease of access offered to prospective customers is hugely important to facilitate business growth.
- Full Control over Accounts:
The MetaTrader 4 is based on an ultra-reliable security system that safeguards user privacy and safety and security of both data and transactions while trading. On top of this is allows you full control over all account related matters, since it provides many tools and controls through which you can manage the entire process from beginning to end, such as Create/Edit Trading Account, Deposit & Withdrawal, Reports and History Management, Multiple Accounts Login and many more
- Compatible with any Liquidity Provider:
As the MT4/MT5 White Label Program can be partnered and be compatible with any liquidity provider, the choice of which liquidity provider to work with is left entirely up to you. There are no restrictions or incompatibility issues and even if your initial choice proves wrong, you can always switch to a different liquidity provider very easily and with no problems. The role of the liquidity provider is crucial for the health and success of your brokerage so you are free to choose the one that best fits your own preferences and conditions.
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The MetaTrader Platform - Learn all about MT4 and MT5
MetaQuotes has been the dominant trading technology and software provider for the entire forex market for several years. Their jewel of the crown is the MT4 platform, which has emerged as the most popular trading platform in the entire world, being considered the industry standard and enjoying the trust and preference of brokers and traders alike. After the huge success of the MT4, MetaQuotes went on to launch its modernized version the MetaTrader5, and ever since these platforms remain the go to solution for anyone wishing to set up a forex brokerage. Are they really the best solution available, is their popularity justified and how could new brokers benefit from these two platforms? Read on, to find out.
The trading platform environment for brokers and traders
When selecting their preferred trading platform, both the brokers who offer it, as well as the traders who use it to trade on, are on the lookout for any possibility that will extend the platform’s functionalities and they are seeking a platform that can be enhanced through the use of plugins and other supporting applications that are available on the market. From the standpoint of a broker it is imperative that their selected trading platform comes with multiple options as regards its connectivity with liquidity providers and its compatibility with plugins that facilitate the management of functions such as trade copying or running bonus schemes. Brokers also opt to have additional applications on their trading platform that allow the development of traders’ networks, such as social trading or PAMM systems that allow the sending of trading signals from one trader’s account to another.
The creator of the MT4 and MT5 platforms, MetaQuotes has managed over the years to develop an extensive network of independent, external technology providers who design applications and plugins especially for these two platforms. This network of “collaborators” is so wide that there are literally thousands of programmers at any given point of time, who are toiling over the creation of useful tools for retail trading clients. Using the MQL4 and MQL5 languages, robots, indicators and other useful tools for being created and are ready to be directly installed on both the MT4 and the MT5 platforms.
The down side emerges when one decides to move from the MT4 platform to the MT5 platform as the MQL4 and MQL5 languages are not compatible with each other. As a result, on the newer version of the platform all robots, signals and other add-ons used by clients on the older platform, automatically stop working. This partly explains the popularity and dominant position of the MT4, which remains more popular than the MT5, partly because there is a big number of ready-made trading robots that had been developed specifically for the MT4, that would not work on the MT5 and this makes people hesitant to make the shift. Therefore, and in an effort to boost the popularity of the MT5 and convince more brokers to adopt it, MetaQuotes decided to stop selling the full MT4 license. However, by turning to an MT4 White Label service provider, any broker can start their venture using the hugely popular MT 4 platform that traders know, are accustomed to and trust.
The Standalone version of the trading platform system
Since they are written in the C++ programming language, the MetaTrader4 and MetaTrader5 platforms cannot be easily decompiled or hacked. This decision also enabled MetaQuotes to develop an enterprise version of its system that each broker can install on this premises and manage it on their own. Those brokers who take on this option, gain maximum flexibility and through the installation of various plugins and by obtaining the full administrator configuration rights, they can safeguard their client’s data on their own server.
Another reason the MetaTrader4 is so popular it its simplicity as a system that makes its management a simple task, even for startup, newbie brokers. Due to its redesigned backend, the MT5 is far more complex and numerous additional options available render it too confusing and even intimidating for many brokers, who therefore prefer the simplicity of the MT4 and the piece of mind that comes with the strength of habit. It is true that the MT5 has higher configuration needs, it is incompatible with previous signals, robots and tools, and is a bigger headache in terms of IT issues.
Desktop, mobile and web platforms
Despite not being compatible between them, the MT4 and the MT5 combined are definitely the most popular platforms in the trading world by far. What people particularly like about the platforms, especially the MT4 that has been around for longer and people are familiarised with it and feel comfortable trading in that environment, is their ease of use, their simplicity coupled with an interface that is clean, intuitive and user friendly. One could however refer to their primary drawback as well, which is the fact that largely their main version is still their desktop version that one needs to install on their computer. Though it comes packed with options for additional plugins, many traders prefer other options that do not entail downloading and would rather trade on the go or from a smart device. Web trading and mobile trading are on the rise and though both the MT4 and MT5 have a webtrader version, this is still not very popular, partly because its design is outdated and the options on matter of functionalities and configuration that could be implemented are inadequate.
The mobile versions of the two MetaTrader platforms work smoothly, but their disadvantage within the context of the discussion here is the fact that they cannot be branded by the individual broker. To offset to some extend some of the issues that arise, there are already 3rd party providers on the market who built both web traders and mobile traders for the MT4 or MT5 platforms, so if you are planning to start out as a white label forex brokerage it might be a good idea to check such options out, as this is a powerful weapon if your aim is to survive the fierce competition and stand out from the rest.
Challenges for brokers using MT4 and MT5
Though simple and popular, it doesn’t mean that if a broker chooses the MT4 white label service, then the avenues towards success will await that brokerage. And sometimes things are not as flexible as we would have wanted. For example, many WL solution providers have pre-set lists of tradable instruments and are thus unwilling to add the individual symbol to their overall trading offering. The MT4 server also has other limitations, such as the fact that you can only have 32 groups of securities in each MT4 server and each WL provider has to accommodate this limit when creating additional instruments (i.e. new instruments must be placed under a separate security group).
There are also problems in terms of markups, the addition of which is problematic but also results in confusion for traders as the platform chart does not show the prices with markups, but only the raw ones. Additionally, when using an MT4 WL no access to admin panels is granted and thus the configuration of any group parameters cannot be done by the WL broker themselves, unless the WL service provider gives their permission and also can provide am in-house developed solution to offset this problem.
MT4 or MT5 : Which One Should You Choose?
Now that you have an in depth review of the platforms, here is a quick recap: In a nutshell, though the MT4 is the most popular platform, its usage does come with some issues. The MT5 platform gives more flexibility and corrects some mishaps recorded in the MT4, but unfortunately it is still not as widely known and used as its predecessor. Also, and though we still believe that an MT4/MT5 white label solution is the most sensible for setting up a new forex brokerage, as the field is expanding and progressing, it is not a bad idea to explore other platform providers before taking your final decision, to compare all options that are out there, and discern which is most suited for you.
If you need help with that, the start-business-online team is always ready to assist. Let us help you attain your goals and benefit from our vast experience and expertise when it comes to the forex, fintech and cryptocurrency trading world.