MetaQuotes suspended issuing White Label licenses for its products in October 2022. So, entering Forex trading has become more difficult for new businesses. An urgent need to find technological alternatives for service provision has emerged in the Forex industry.
This case confirms that the industry is particularly vulnerable to risks, while unexpected shifts in legal and technological fields might bring serious changes to brokers’ plans.
The article deals with the ways of reducing risks for brokers, along with alternatives to MetaQuotes already existing in the market.
Using diversification to reduce risks
License and WL vendors benefit from having multiple options to sell coming from different providers. For instance, if one company suspends selling licenses or WLs, a vendor will be able to prevent potential losses by offering other platforms.
Brokers might use various platforms to create a reliable technological base. This allows businesses to be more flexible, while lowering risks in order to avoid situations with revenue losses.
When a broker uses a single platform, there is a risk of losing some traders in case of technological or legal difficulties on their provider's side. If a broker uses at least two platforms, it is possible to move clients to the alternative platform when having temporary issues with the first one. These shifts can be done on a permanent or temporary basis.
The problem of MT4/MT5 mobile applications being deleted from the App Store can be solved with the UTIP solutions. This topic has already been touched in the previous article.
Easy and efficient alternative to White Label
The UTIP offers to buy a license to use the company’s products. Full terminal branding is also provided.
Benefits of having the UTIP license are the following:
● There is no commission per lot, and the company doesn't exercise control over brokers' trades. Only a fixed amount is taken.
● The UTIP presents loyal KYC requirements to potential customers.
● A person may turn into a full-fledged broker in 48 hours. The issue of transferring clients is our responsibility.
If you are interested in the UTIP platform, you can find more detailed information on the UTIP website.
