Being a forex broker is a challenging task, as they are required to offer a wide range of services to their clients, including trading accounts, market access, tools, and advanced features, such as copy trading.
Above all the features, one feature that traders need without hindrance is a trading platform. A trading platform is a gateway for seamless forex trading, filling the gap between traders and the forex market.
However, building your forex brokerage from scratch is a cumbersome task for a new business. Building it requires a lot of effort and time, from high set-up costs to micromanagement, which new startups need help to afford. This is why many choose MT4 White Label solutions.
A service that allows you to use the MT4 trading platform under your brand—the MT4 white label solution—is the modern forex brokerage solution that every forex entrepreneur needs. Let’s understand how you can use the MT4 white label service.
What is the MT4 White Label?
The MT4 white label service, provided by MetaTrader 4, enables companies and individual traders to set up and operate the MT4 forex trading platform as their own.
In the background, you get the MT4 infrastructure, and then you can set it up under your brand, selling it as your brand’s feature.
When you opt for the MT4 white label, all the core functionalities of the trading system are passed down to you; however, how you would want to customise it and present it as your brand is in your hands.
What Are the Features of the MT4 White Label?
Here is the list of features you will get with the MT4 white label –
1) Custom Indicators and Scripts:
Although you can’t make changes to the core features of the trading platform, you get full flexibility in creating your indicators.
The overall look of the trading platform is also in your hands. From the interface to the colour scheme, you can customise everything so it has the appeal of your brand.
2) MT4’s trading tools:
You will get access to all the advanced trading features. These include technical tools, advanced trading tools, and EAs.
3) Multiple news feeds:
The platform will provide you with a news feed sourced from a multitude of news channels.
4) Integrated Economic Calendar:
With this solution, you will find an economic calendar integrated with the MT4 platform. Hence, it would be easy for your customers to keep tabs on the latest news and make trading decisions based on that.
5) Faster Market Entry:
The MT4 white label service allows brokerages to launch their platform quickly, as the service provider takes care of all the trading platform needs.
The Advantages of Forex Trading with MT4 White Label
- Lower Cost Market Entry:
As an essential part of brokerage service, a fully functional forex trading platform is essential to seal the deal between the broker and its clients. For a new broker, it can be costly to build a new trading platform because of high development costs.
Thus, when you opt for MT4 white-label forex, you get the best trading platforms at a much lower cost. Moreover, whether your customers would like the new trading platform or not is also an issue.
Traders generally prefer a fast-paced trading platform such as the MT4 trading platform with a strong community of users to any new platform, which could take time to build trust among users.
- Branded and Customized Platform:
Every new brokerage wants to attain clients. And if you can do that with the help of the MT4 white label, then what else could your brand want?
You would not only be able to offer your customers MT4’s features, but you would also be able to do that under your own brand’s name. That would be making two kills with the same arrow!
- Cross-Device Support:
Thanks to MT4’s versatility and features, you can use this trading platform across different devices.
From computer systems to smartphones, its cross-functionality allows traders to keep an eye on their trades anywhere and anytime.
- Liquidity Source Compatibility:
The MT4 trading platform has been in the trading world for a long time. Thus, it is a trusted platform. Because of that, you will find it compatible with different liquidity resources.
What does that mean for traders? It means traders can get access to a large pool of trading opportunities, including different trading currencies. - Technical Expertise:
As we discussed, the development costs of your trading platform are high. If you build your trading platform, you must invest in a technical team to handle troubleshooting. An additional technical team would shoot up your costs.
However, the MT4 white-label service will take care of any technical problems for you; meanwhile, you can focus on the main problem: how to build and promote your forex brokerage.
MT4 White Label Solution Costs
You will not find MT4 white-label solutions at any fixed price. Different companies offer different rates. Moreover, it depends on the service and the level of customisation you would want in your trading platform.
So don’t be surprised if your cost of availing of the MT4 white label is different for two consecutive months. The cost also depends on which MetaTrader platform you want to choose – MT4 or MT5. The MT5 trading platform is more expensive than the MT4 because the former has more trading features.
It would be best if you talked with your provider, asking about the level of customisation and the features they can offer. Hence, based on that, you can negotiate and choose the best MT4 white-label trading setup for you.
MT4 White Label Tool Setup Guide
The MT4 white label tool set-up involves a series of steps. Typically, the setting team starts with setting the interface of your trading platform.
They design logos and visual aspects of the trading platform first – all the things that cover the overall look and feel of the platform.
After that, they move on to integrating various tools: EAs, charting tools, technical analysis tools, etc.
A backend management system to handle all the clients’ data is also built, which is followed by the integration of customer support technical assistance, training, and documentation.
Last but not least, the setup team also adds scalability options so you can update your trading platform from time to time and offer your clients the best services.
For example, if you want to offer Islamic accounts to your clients as a feature, you can add this feature later on. Adding this feature will allow traders with religious constraints to trade without breaking any law.
Conclusion
If you have decided to open a forex brokerage in 2024, the MT4 white label can help you get started with less capital and greater ease. When you choose this service, you don’t have to fret about hiring multiple teams to build your platform.
The MT4 white-label trading setup team will do all the work for you. From customisation to incorporating MT4’s features, they will prepare the platform that represents your brand. So get started today!