Bring More Value to Your Brokerage Business by Choosing the Right Services
A trading platform is the main instrument of every trader. Naturally, the success of brokerage business, for the most part, depends on the convenience and technological sophistication of the trading platform offered by a broker. At the same time, you should not forget about the important additional modules and services that you will have to connect to the trading platform, based on the requirements of your business model. This is exactly what we will discuss in this publication.
Trading platform as your cornerstone
Any brokerage business operator must have a few critical requirements for a trading platform.
The terminal should function without technical failures, especially in a situation of increasing liquidity. For long-term investors, such disadvantages are probably insignificant, but delays in trading order processing can lead to loss of profits for scalpers.
Functionality. A good trading platform should have enough tools for technical analysis. When transferring indicators to the chart, the developers should provide the possibility to correct the input parameters. It is also important for many traders to use several periods of the chart to make a trading decision.
User experience. The trading process must be comfortable for a user, so a good terminal offers the ability to change the color of indicators, or the background, or the chart itself. The first impression of a platform is always shaped by visual perception.
No compatibility issues. If necessary, a trader should access the platform through a mobile device, and the operator should connect additional services.
Most popular platforms offered by software vendors do not suffer from the lack of these features. Verified providers usually have sufficient experience and resource base to provide stable operation and acceptable UI for their solutions.
We also can't help but highlight the situation that has historically developed in the brokerage and trading software market. The reality is that if the operator does not employ Metaquotes products, namely MetaTrader 4 and 5, the range of possible customers is significantly limited.
In this article, we will not delve deeper into this factor. Being aware that in 90% of cases the operator will choose the Metaquotes platform, we would rather like to offer guidance on how it can be strengthened depending on your brokerage business model.
One important nuance: In case you are considering a wide range of operations other than pure brokerage and are counting on attracting institutional traders to your business, you have to consider alternative platforms. That doesn't mean you have to abandon Metaquotes software if you are already using MT4 or MT5 as your primary platforms — perhaps your resources allow for seamless integration of advanced platforms, such as TickTrader, into your business.
Explore the opportunities TickTrader Trading Platform can offer your business.
Trader's room is a service indispensable for the normal activity of the brokerage business. With Trader's Room, you can create private space for a trader, their hub on the site of your brokerage company. A trader's room allows r traders to add funds to their trading account, withdraw funds from it, monitor trade history, invest in a PAMM account (if the service is available), etc.
What features distinguish a good trader's room?
A variety of connected payment systems for deposit and withdrawal. This option greatly increases the loyalty and trust of traders. The number of connections may depend on the geographical location of your business and the requirements of the regulator.
Compatibility with popular trading platforms. This is a requirement imposed by any business that expects to attract mainstream traders.
The ability to deploy a multilevel referral program. This is a very effective measure to stimulate user activity, which ultimately serves as an additional source of profit for both your business and traders.
High level of protection. Protection of personal data is one of the main factors that potential clients pay attention to.
Trader's Room is a feature that seemingly calls for in-house development. However, given that the market is saturated with white label solutions, purchasing this module from a vendor appears to be a sensible decision to make.
TickTrader Trader’s Room has more than 60 fiat payment systems and crypto payment solutions integrated with 13 blockchains.
Liquidity aggregation module
Connecting additional sources of liquidity can significantly expand the capabilities of your trading platform, regardless of whether you use MetaTrader 4 or 5 or a niche product.
How can you benefit from independent liquidity aggregation?
Autonomy. Your main advantage will be complete independence in the choice of liquidity flows.
Automation. Computerized control of liquidity flows will allow you to use free resources for other important tasks.
Expense trimming. The liquidity aggregator module enables internal liquidity generation, so you can save significant resources on liquidity providers' commissions.
It is important to note that if you plan to rely solely on the Market Maker model (B Book), the liquidity aggregator functionality does not apply to your platform. However, if you are considering the prospect of becoming a larger Forex market player, it is advisable to pay attention to the hybrid model.
TickTrader Liquidity Aggregator can help you connect and collect the best liquidity from an unlimited number of providers as an FX or cryptocurrency exchange aggregator.
A PAMM module is the best way to attract investors to your platform who do not have enough experience in trading but are ready to finance the strategies of other successful traders. The PAMM mechanism makes it possible to invest in experienced trade Masters whose expertise has been confirmed by statistical data, and, subsequently, to expand the number of individuals who can use your broker services.
Any of the requirements below are sufficient grounds to consider connecting a PAMM module to your platform.
- You manage an MT4 or MT5 brokerage and seek to expand the number of your clients.
- You want to make your brokerage services more accessible for clients with any level of experience.
- You want to increase the turnover of your brokerage business.
TickTrader PAMM has simple integration requirements with MT4 and MT5 platforms and other features essential to the rapid deployment of a competitive PAMM service.
Of course, you can consider the custom development of all the brokerage business components listed above. However, for a small or even medium-sized operator, this option makes little sense because it's much easier to use a purchased solution for a quick startup. All you need to do is to decide which components you need for your model and find a reliable vendor to provide them to you.