Choosing a Trading Platform: When setting up your forex brokerage business, you’ll need to decide which forex trading platform to offer your clients and how you’ll pay for the platform you select.
MetaTrader 4 Forex Trading Platform
MetaTrader 4, commonly referred to as MT4, is the most popular forex trading platform. Designed to support automated trading software systems—known as EAs—providing access to MT4 can attract and increase the number of traders, as most traders are familiar with how to use this platform. However, using MT4 also significantly increases associated operating costs.
Update: According to industry insiders, numerous white-label trading platforms have received notices from MetaQuotes requiring them to cease using its MetaTrader 4 and MetaTrader 5 software within a specified timeframe. This major development means that brokers can now only obtain genuine MetaQuotes trading software through the MT5 main brand.
Alternative Forex Trading Platforms
Depending on your budget and your trading needs, your forex broker may also offer a different forex trading platform that is better suited for traders who prefer to trade on mobile and tablet devices, or for those who want access to a web-based platform from multiple computers. Alternative forex trading platforms can also offer customized services and are typically more affordable.
It’s time to offer your users “Sirix .” Compared to MT4 and other software on the market, Lirui’s Sirix features more lenient KYC requirements, provides white-label functionality at the price of a white-label solution, offers exceptional value for money, and does not charge based on trading volume.
Sirix also supports copy trading andcrypto trading, either as a standalone platform or integrated into a broker’s core Sirix product. For brokers, Sirix offers a back-office solution that combines flexibility and transparency, enabling traders to fully comply with the most stringent international regulatory standards.
Payment Methods on Forex Trading Platforms
There are three common ways to access a forex trading platform.
Buy
Purchasing a forex trading platform gives you full control and allows you to add, remove, or edit platform components as needed. Although this approach requires the largest initial financial investment, it is typically the most cost-effective option over the entire lifecycle of a successful brokerage firm.
White Label
White-label refers to using a forex trading platform provided by a third party, where you simply rebrand it with your own forex brokerage’s brand. This is the most cost-effective option; however, you have almost no control over the underlying trading platform and must share revenue with the forex platform provider.
Leasing
Leasing a forex trading platform provides you with a customizable forex trading platform at a low initial cost. Although the cost of launching a brokerage business has decreased, making it a good option in the short term, as your business grows, the total leasing costs may eventually exceed the cost of purchasing the platform.
