Starting a brokerage is a decision that should not be taken lightly. The industry is continually changing and requires a great depth of skill and understanding.
Furthermore, a brokerage will require significant investment and plenty of patience to ensure it is operating efficiently from the very beginning.
The good news is that you do not need to undertake everything on your own. There are organisations out there who can lend a helping hand.
Popcorn Technology is a business that provides a critical service to new and established brokerages looking to get ahead.
To understand why a forex white label partnership is essential, you must first understand the challenges.
A partnership will allow a new brokerage to do business with confidence and professionalism, similar to a more established company. However, quite understandably, you may have concerns about how much influence that partnership is likely to have and any new brokerage worth its salt will want to maintain a unique identity and build its own relationships. A professional forex white label partnership will help guide a new brokerage and is unobtrusive.
Benefits of a Forex White Label Partnership
Observe Live Marketing Data and Lead Management
Popcorn supplies a CRM which incorporates lead tracking tools. Their system can evaluate leads at every stage of onboarding. It also integrates with the CRM and MT4 platform.
Combined Customer Support
It is easy to become inundated with customer queries and messages, especially when operating at capacity. A new brokerage may struggle to maintain high levels of customer support without the help of a partner. Working under a larger organisation’s guidance with the appropriate infrastructure can be very helpful.
The biggest obstacle for new brokerages is conveying trust and demonstrating it to new customers. Any company operating in the financial markets must be reliable and trustworthy. A reliable partner can really help in this regard and that in turn, can help to stimulate growth.
Economically Priced Technology
Bespoke software is staggeringly expensive to build and implement. Under capitalisation bars most entrepreneurs from entering the market when they believe that proprietary software is the only way to make a brokerage stand out. It is not true. They do not understand that there is a better, more cost-effective way to enter the market. A reasonable and appropriate partner will allow a new brokerage to lean on its systems. The new brokerage can operate confidently, knowing it can rely on tested mature systems.
Route to Market
Hiring staff is expensive. A successful brokerage will grow quickly and outpace the founder’s ability to take care of it by themself. Once a brokerage reaches a specific size inevitably, it will need to employ staff.
However, a partnership can provide access to a team of professionals and the capacity to take on work that would be impossible to do alone.
Partners such as Popcorn technology understand the challenges facing new brokerages and have developed processes and best practices to help them. A competent partner will have identified the need for dedicated support and provide it.