James Patrick, Author at Starting Brokerage

MT4 vs MT5 : Which One Should You Use?

Posted on August 25, 2021August 25, 2021 by James Patrick

If you have been planning to start your very own forex brokerage for sometime now, one question which must have definitely come to your mind is whether you should use MT4 or MT5. While the names might look similar, a common misconception within the industry is that MT5 is just an upgrade to the previous MT4. However, this is not the case.

To be very specific, both platforms allow traders to trade on the global forex market, and each of them arrives with a wide range of functionalities; however, they both serve very different purposes. While the MT4 platform has mainly been constructed to give traders access to the global forex market, the MT5 platform is an upgrade, and it lets traders access financial instruments such as CFD, futures, and stocks.

But there is more difference between these two platforms than meet the eye, and in today’s article, we will explore exactly that and help you understand which platform would be better suited for your needs. Without further ado, let’s get started.

Definition

One of the first and most important aspects we need to understand before we dive into the differences between the platforms is their essential definitions.

In simple terms, MT4 or MetaTrader 4 is an electronic trading platform first launched in 2005, and it allows forex brokers to participate in the global forex market. It is one of the most popular trading platforms within the community and is offered by most brokers around the world. The MT4 platform arrives with Expert Advice, Trading Signals, Mobile Trading, and the Market section, all of which are integral components of the platform and are designed to enrich the experience of the modern trader.

On the other hand, MT5 is also a trading platform for forex traders; however, it was specifically designed to allow traders to access futures, stocks, CFDs alongside the regular forex financial instruments. The MT5 platform was launched in 2010, and contrary to popular belief, it is not an upgrade to the MT4 platform. Till date, it is offered by very few brokers as compared to the MT4 platform, and one of the specialties of this platform is the fact that it complies with the US FIFO (First In, First Out) policy and thus suits the widely popular no hedging rule.

Additionally, one of the main specialties of the MT5 platform can be found in its design and functionality, which allows traders to trade in commodities, options, stocks, and futures, all of which are inaccessible through the MT4 platform.

Thus, in a way, it can be understood that the MT4 platform is much more preferred by traders outside of the US, while the MT5 platform is more popular among US traders due to its underlying compliances.

Key Differences Between MT4 and MT5

Now that you know the basic definition of the MT4 and MT5 platforms shared, below is the list of key differences between them.

Features
Partial Order Filling Policies
Order Fill Policy	Fill or Kill	Fill or Kill Immediate or Cancel, Return
Pending Order Types	4	6
Depth of Market
Times & Sales ( Exchange Data )
Technical Indicators	30	38
Graphical Objects	31	44
Time Frames	9	21
Economic Calendar
Email System
Transfer Funds Between Accounts
Embedded MQL5 Community Chat
Strategy Tester	Single Thread	Multi-threaded + Multicurrency + Real ticks
Multilingual Unicode
Netting
Hedging
Symbols / Securities	1024	Unlimited
Supported Markets	Forex	FOREX / Futures / Options / Stocks / Bonds
Exchange Trading

Now that we understand the key differences between the MT4 and MT5 platforms let us understand the two major differences in detail.

The MetaTrader 5 platform uses a language architecture known as MQL5, which allows for a feature known as black box programming. In simple terms, black box programming is a feature which allows developers and users to create more advanced robot traders, which are also known as Expert Advisors, and ensure that they run smoothly on the platform.
Along with this, developers and users who work with MT5 have also noted that MQL5 is much easier to learn, use and program, thus adding to its charm and user experience.
However, in 2014, MetaQuotes extended the black box programming feature to the MT4 platform as well, but it is not sure if there will be any future upgrades. Thus, if you are planning on creating expert advisors, MT5 will be a better choice due to the presence of programmable features.
Along with this, it should also be noted that the MQL5 language doesn't feature any backward compatibility, meaning that a feature which was programmed in MT5 might not run in MT4. Additionally, since the pace of backtesting is slower in MT4, you might consider using the MT5 platform, especially if you are someone who needs to run multi-pair currency backtests at the same time.

Conclusion: Which One Should You Choose?

After understanding all the differences between both the platforms, the decision of choosing one over the other, comes down to your needs. If your brokerage serves traders outside of the US and do not require fast backtesting and programmable features, along with being able to trade with no technical support from the developer, go with the MT4 platform.

On the other hand, if your brokerage serves traders who need constant technical support, requires fast backtesting capabilities, designs and creates expert advisors, and resides within the US, then choose the MT5 platform.

The facts are in front of you; all you need to do is make a choice and along the way, if you come across any trouble, make sure you reach out to us at Starting Brokerage, and our team of experts will be more than happy to assist you along every step of the way.

Changes in MetaQuotes Compliance Policy

Posted on May 27, 2021May 27, 2021 by James Patrick

Metaquotes has recently changed its compliance policy which concerns onboarding of new MT4 / MT5 Whitelabels.

Previously it was possible to order a White Label using companies registered in different countries such as the United Kingdom, Hong Kong, Singapore etc without having any license or business categorization requirement.

Now metaquotes requires the company applying for whitelabel which confirms the company is allowed to conduct the financial services / brokerage activity.

In a nutshell , the whitelabel can only use a company which is legally allowed to conduct brokerage activity either with license or without.

One such jurisdiction which allows to conduct brokerage activity without having a license is Saint Vincent and the Grenadines , which is most popular and widely used by brokers.

Apart from the above company requirements, Metaquotes now verifies also validity of all the contact data provided by the broker such as telephone number, email address, website or domain ownership. All these changes in compliance policy probably was caused by many scam companies which were using reputable jurisdictions to lure and mislead their clients.

Starting Brokerage can help you setup of Saint Vincent Company for your brokerage business , click here for more details or get in touch with us.

How To Create A Memorable FX Brand

Posted on March 24, 2021March 24, 2021 by James Patrick

2021 is a year of new opportunities, and if you have decided to take the leap this year and start your very own FX brokerage, this article is for you. In today’s article, we will share with you the key steps and strategies you need to undertake in order to create a memorable FX brand along with tips and tricks on how to get your very first customers.

Let’s get started.

1. Find Your USP

One of the first and most important steps you need to take is to understand your brand’s USP. As someone who has just started their company, you must be well aware of the competitors you have. And when a significant amount of competition is present, you ought to ask yourself, what is different about my business, which will intrigue my customers to choose me over my competitors.

In the marketing industry, your brand’s reason is often referred to as the USP or Unique Selling Proposition, or in other words a single or multiple aspects of your business that will help you stand out from the competition. In your case, this might be your customer support or the expert research team you have within your company.

Whatever it might be, it is important that you identify it early in your business and place it at the core of your brand-building efforts.

2. Create Your Logo

The first impression your potential customers will acquire about your business will come from your brand’s logo, and thus this is an integral part of your brand building strategy. In today’s modern business environment, customers are exposed to thousands of brands every day, and thus you need to make sure that not only is your brand eye-catching and iconic, but it also captures the essence and message of your brand clearly.

If your budget permits, get a professional designer who can bring your brand to life or if you are just starting out, you can always rely on free resources like Canva to create your initial design.

Along with this, keep in mind that the colors you select for your brand logo will play a significant part in determining how your customers feel about your brand, and thus you should read up on color psychology in logo design beforehand.

3. Create a Brand Awareness Campaign

Once you have finalized your brand’s USP and logo, it is now time to set up a brand awareness campaign, such that you can get the word out about your company. A great way to do this is through professional networks like LinkedIn, where there are dedicated groups for FX traders and also customers who are actively seeking out their services.

At this stage, you need to design a campaign that is bold and attractive, such that you can draw upon the attention of your target audience and convert them into leads in the future. Along with this, a great point to keep in mind is the fact that instead of focusing on the core product you offer, focus on the pain points of your customers that your product will solve.

Diverting attention from what you can offer to how your customers can benefit from your offering can not only change the narrative of your brand awareness campaign in your favor but also make sure that customers are more likely to approach you rather than your competitors in the future.

4. Double Down on Social Media Presence

Last but not least, create a presence for your brand on popular social media websites. Starting from consumer-centric ones like Instagram all the way to business-centric ones like LinkedIn, you need to make sure that you have a well-tailored social presence. Depending on the social media website you choose, research on the target audience you want to attract and subsequently start creating and posting valuable content for your audience.

Having a well-tailored presence on social media will not only help you engage with your customers better but also give them a space to interact with your content, learn about offerings, all of which will be contributing factors to your business’s success in the long term.

However, when you are just starting out on social media, it is immensely important to properly research on the platform and learn about the type of content that works best for your purpose. For example, if you want to build a loyal following on Instagram, the new Reels feature might be best for you, whereas if you want to execute the same on LinkedIn, posting in-depth articles on expert topics might work better.

Ending Lines

Creating a memorable brand for your FX business is not only immensely important to attract new customers, but also to craft and foster a brand identity for the long term. Because at the end of the day, succeeding in the FX industry is not an overnight game, but one that requires consistency and hard work for the long run.

All the best.

How to Launch Your Own Forex Brokerage in 2021

Posted on March 9, 2021March 9, 2021 by James Patrick

The world as we have known it so far has changed completely, and thus it is time that you revise your plans as an entrepreneur as well. As countries around the world begin their shift towards a self-sufficient economy and new technologies such as blockchain, AI, and machine learning make headlines, it is sure to make an impact on how we have participated in trading forex so far.

If you are excited to become a part of this ongoing trend and you want to start your very own forex brokerage in 2021, this article is for you, as we will be going through a step by step process on how you can start your own forex brokerage in 2021.

Let’s get started.

Step 1: Form a Company and Get Your License

The first and most important step you need to follow to start your forex brokerage is to identify the country you want to register your brokerage company in. Since these technologies and offerings are still relatively new, you want to make sure that you look into the economy of the country, the job market, the technical infrastructure, and most importantly, the rules and regulations of the country in terms of forex trading.

While undertaking this process, make sure to keep an open mind and research several countries at the same time in order to determine the best choice which suits and meets your needs.

Step 2: Get a Forex Trading Platform

Once you have set up your company and obtained your financial license, the next step is to obtain the forex trading platform. In simple terms, this software will be at the core of your business and will enable both your clients to manage their trading accounts as well as allow your team to manage the back-office functions.

A great offering in this line up is MT4, also known as MetaTrader 4. Not only is this software immensely powerful when it comes to forex trading, but it also allows you to white label all its offerings in line with your brand identity.

Step 3: Setup Payment Channels and Liquidity Offerings

One of the most important aspects traders take into consideration when evaluating a forex brokerage is the amount of liquidity they have on offer. In simple terms, you can understand liquidity as an indicator of the overall financial health of your business, and thus you need to make sure that you conduct proper research and source a provider who can supply you with deep liquidity at an economic commission.

Along with this, you will also need to set up an online payment channel such that all settlements of your business can happen fast. Once both these steps are executed, your technology infrastructure will be complete.

Step 4: Beta-Test Your Offering and Prepare to Go Live

Now that all the key steps in your forex brokerage setup are complete, you need to hire experts and offshore partners to conduct multiple rounds of beta testing across all your offerings.

The world of forex trading is one of the fastest moving in the whole industry, and thus traders in this domain expect a 100% uptime along with no glitches in the software. Through multiple iterations of beta testing, not only can you pinpoint glitches in your system but also consult technical experts on how to fix them.

Once the beta testing is complete, now it is time for your forex brokerage to go live and open its doors for the public.

The visitors are more likely to come in touch with you when your website has quality information about the market and placement of orders.

Step 5: Market Your Business

As we continue into 2021, one trend I am sure you would have noticed is that all businesses around you are going digital. Along with this, as the penetration of the internet and smartphones increase, it is only getting tougher for businesses to get in front of their target customers. Thus, as you can understand, just starting your forex trading platform isn’t enough, and you will need to market it properly to reach your target audience.

A great approach to this can be to create an audience persona of potential customers and use that across all your marketing efforts. Having a detailed audience persona with demographics included will not only help you identify the right target audience but also figure out the most effective methods of reaching them.

Along with this, make sure that you hire a designer to craft a logo which makes your brand stand out from the competition while effectively communicating your company message, ideals, and values.

Last but not least, while marketing your forex brokerage, shift the perspective from what you can offer to your customers to what problems of your customers you can solve through your offering. This simple tweak will not only make your marketing effort more humane but also generate a higher ROI.

You can find more about how to market your brokerage via digital marketing by clicking here.

Ending Lines

Starting your very own forex brokerage in 2021 may seem like a daunting task, however, if you implement the steps outlined above, we are sure you can succeed with flying colors. All the best.

5 Effective Marketing Strategies For Your Startup Brokerage

Posted on February 26, 2021February 26, 2021 by James Patrick

Every year around the world hundreds of startups enter the FX industry with their own brokerages, thus increasing the competition both for existing businesses as well as new ones. If you are looking to market your forex brokerage in 2021 and gain an edge over your competitors, not only will you need to rethink your approach towards marketing, but also constantly adapt to the changing times to keep up with the pace of the industry.

Thus, in today’s article, we will share with you 5 effective ways marketing strategies you can implement in your forex business in 2021 to gain more customers and take your business to new heights. Let’s get started.

1. Create an Audience Persona

One of the biggest mistakes we witness in the FX industry in terms of marketing is targeting the same customer segment by firms of all sizes. Be it an established business with several years of experience, or a firm which has just opened its doors to the public, everyone is targeting the same audience segment and increasing the overall competition.

However, if you want to see your marketing efforts bear fruit in 2021, this should not be your approach moving forward.

A tried and tested alternative to this is to create an audience persona for your brand at the very beginning. In simple terms, an audience persona is a document that outlines how your audience looks and includes verticals such as their age, likes, dislikes, geographical location, age, gender and more. Creating a detailed audience persona for your business will not only help you identify your target audience better, but will also help you deliver custom ads to your target audience, which have better engagement and potential for converting an engaged audience into a loyal customer base.

2. Understand the Power of Your Brand

If you want to succeed in your FX marketing efforts for 2021, one of the most important and crucial aspects you need to address is the power of your brand. Creating and fostering a strong brand for your business right from the start will not only help you get your foot in the door in terms of signing up new customers, but it will also contribute to fostering an engaged and loyal customer base further down the line.

In order to create and nurture a powerful brand for your FX business, make sure you have a logo that stands out and clearly communicates your brand message along with a strong presence on social media websites, as these are avenues where you can find the most number of customers for your business.

3. Invest in Digital Marketing

Gone are the days when you could just rely on word of mouth to get customers for your business. As people get more and more connected through the power of internet, every business around the world is going digital, and so should you. If you have just started your business, and you are considering where to invest to get the maximum ROI (Return on Investment), we will strongly recommend that it be to create an appealing website for your business.

Having a website that not only looks and feels good but is also immensely functional will go a long way in establishing your brand’s presence in the market. Along with this, make sure that your website is SEO (Search Engine Optimization) optimized from day one, such that customers can find you on the web, the moment they search for something related to your business.

4. Create a Knowledge Bank

A recent survey conducted among customers who actively seek out FX brokerages on a regular basis indicated that the number one reason, as to why they are wary of working with a FX brokerage is their lack of understanding when it comes to technical terminology.

As the founder of a forex brokerage, it might be easy for you to understand all the complicated terms which are involved in the business, but if you just shift your perspective and look at the situation from the standpoint of a customer, you will quickly realize the problem.

An effective solution to this which can act as a great marketing tactic as well, is to create a heavily researched knowledge base for your potential customers to learn from. In this section, you can cover the various intricacies of your industry, and by further SEO optimizing them, you can rank on SERP.

The visitors are more likely to come in touch with you when your website has quality information about the market and placement of orders.

5. Invest for the Long Term

When you are planning to market your forex brokerage and make it big in the industry, then investing for the short term with an eye to witness overnight success should not be on your mind. Over the years, several market reports have indicated that creating a long term marketing strategy and sticking by it with patience and consistency can not only help you nurture an impeccable brand identity for your customers but also tune your footsteps on the pathway to success.

Develop a Simple and Updated Website

You must keep all information published on your business website up to date. You can make effective use of your Laptop by updating your website information. For making simple edits, you will not need to hire a coder

Be it about changing description or a date, a few clicks of the mouse is all you need. You can invest your savings over redesigning or acquiring big projects. Don’t give your customers a chance to point out flaws on your site

Ending Lines

When you are just starting out in the forex business, marketing it effectively can seem like a daunting task, but if you plan wisely and you effectively implement the steps we shared above in this article, we are sure that your marketing and brand building strategies for your forex business will be a huge success in the long term.

All the best!

Significance Of A Good Website For Your Forex Brokerage

Posted on August 17, 2020August 26, 2020 by James Patrick

Are you aware of why the websites act as a driving force behind all businesses? Your target audience is most likely to come across optimized resources that show them through an online route to your website. In an age of digital marketing, business revolves around its web presence to be able to edge past the stiff competition.

Few Crucial Points that Make It Inevitable For Your Business to Launch a Website:

Pose Your Website as the Face of Your Organization

The owner of a business needs to lay much emphasis on his website. Your website represents your entire business regardless of the operational volume and efficiency.

The website reflects your vision vividly when it has appropriate content and optimized design and features. Almost half of the work gets done right there!

Let Your Visitors Identify with the Cause

You must inform your customers about the nature and outcomes of using your website. The platform that your website offers to all trading participants deserves a crystal-clear description. All the features ought to be explained with examples.

Like every other trading platform, it should value time. Don’t forget that your trading direction can change in a whisker of time. It can help you reap huge profits or inflict heavy losses.

Display the Market Updates

A website is the ultimate source of market commentary, reviews, and news. Trading experts and coaches provide for genuine reviews on the market scenarios and trends.

Focusing on the market news and updates are of great help to the participants. Besides promoting all fundamental and technical analysis, a website conveys information concerning specific tradable assets and currencies to traders of varying levels.

Become a Brokerage Firm that Leads the Market

In our attempt to choose a forex brokerage firm, we usually look for one that is well-established. Your website proclaims your authority. Besides giving an insight into your trading platforms, it reflects your experience in the field.

The visitors are more likely to come in touch with you when your website has quality information about the market and placement of orders.

Consult Your Analytics before Putting in Your Best Efforts

If you wish to know the internet from all angles, then you have to know where you are and where you came from. All of your efforts will go in vain if you don’t present the right information through your website.

Your website will provide you with quality information concerning your prospects, their inclinations, market conditions, trading trends and demographics. All you need to do is to make good use of Google Analytics and other analytical tools. Tracking such vital information won’t be possible unless you build a website.

Develop a Simple and Updated Website

Get a User-friendly Design

Not very long ago, you could see your business website only on your desktop. Then you saw the phase of developing responsive websites for all types of businesses. These days, you may develop a mobile app or may even create your website in a manner that matches a smart format.

Creating responsive websites has become a norm with most online businesses of late. This way, your information can be presented to your audience via any smart device. Reading your business information over a tablet or smart phone is easy as it shrinks appropriately. You must opt for a responsive design while building a new website.

Educate Your Prospective Users

A website extends quality advice on trading services and products for free. The information gets conveyed in a uniform and well-conceived manner. Few of the visitors may not have much time to place orders.

However, some visitors would analyze and review every detail of trading in advance. It serves their purpose when you update the pages of your website with quality trading information.

Improving customer service is often the key advantage of maintaining a Forex website. It yields a swift electronic medium for processing information furnished by the trading aspirants very easily and quickly. You may utilize text and email messages for broadcasting bonuses and deals besides placing them on the site. Once you can collect the concerns and views of customers over an online platform, it becomes easier for you to execute your plans accordingly.

Why Are The Brokers Still Using MT4 When They Have MT5?

Posted on August 10, 2020August 26, 2020 by James Patrick

The monopoly of the MetaQuotes Software doesn’t work anymore since the MT4 platform set the milestone for the entire industry. New brokers are no more in a position to offer MT4 since MetaQuotes withdrew vanilla MT4 from the marketplace. MetaQuotes has conveyed its message clearly: MT5 holds the key to your trading future

How It Feels to Explore MT5

The brokers that are currently operating in the market won’t find it tough to offer both MT4 and MT5 simultaneously. However, a large section of the clients is currently dependent on MT4. You may even explore the option of switching over to MT5 at your free will. You must have noticed a substantial hike in market demand for this platform. A large section of the new buyers prefers investing their time and efforts over MT5 rather than the earlier versions.

Using MT5 often becomes mandatory for some market participants that experience new-age trading challenges. The new brokers have to deal with some unknown software and dynamic industry that sets new trends every day. It helps them in dropping the anchor for a new brand. White-labeling and other solutions may seem attractive to new players at a time when the market reflects a high potential for client rejection and financial risks.

MT4 Owes Its Success to EAs

The monopoly that MetaQuotes enjoys doesn’t work in its favor ever since MT4 succeeded in establishing its presence as the new trading standard. The fact that we humans feel uncomfortable to accept changes prevails all over the industry. MT4 was always there and it is still pretty much stable and effective. Computers worth millions have it installed all over the globe.

The retail shift has primarily slackened due to the long row of add-ons that come with MT4. MT4 is the main pillar of support for Copy trading solutions. It has a great many electronic advisors (EAs) in its vicinity.

Most of the community boards and trading forums have littered due to the MT4 custom indicators. You can evade the challenges posed by the add-ons since you won’t be able to take them off the MT4 charts and stick them on MT5. You have to acquire them at your fingertips and right from scratch.

Brokers have to deal with this issue alongside other things. Compared to MT4, it yields further challenges concerning the absence of genuine plug-ins or third-party solutions. Brokers ought to develop their services based on these extras.

MetaQuotes finds comparison in Microsoft. With the release of the latest version of windows, the latest version of MetaTrader grew higher on demand. MT5 helped the stores keep up with the market demand. The individual participants can use it for free, but most traders were happy to pay for the latest Windows version.

MetaQuotes has been struggling to offer MT5 over retail trading platforms. The brokers are middlemen that can benefit from the design of MT5. However, the latest Windows version suits the customers with more security and speed, which is why they prefer to pay for it. MT5 is an upgrade that is aimed at the brokers. Its primary objective is not to help brokers by increasing the flow of trading volume while helping millions of parent traders simultaneously.

MT4 Still Looks Futuristic

For quite some time, a group of experts are considering MT4 to be ineffective. However, they haven’t succeeded in barring the use of the platform. The community continues to use it even today. You must remember that the deployment of MT4 still causes you to meet a monthly charge towards MetaQuotes.

MT4 still extends a sound trading base to millions of traders all over the globe. If the plug is pulled off all of a sudden, it would lead the global market through a phase of chaos and mismanagement. It might prove to be a suicidal move as the damage is deemed irrecoverable.

The move from MT4 to MT5 could happen at a slower pace unless the retail traders accept the latter as a more favorable option. Relying on business becomes difficult for a broker when the retail clients reject it.

It often seems an uphill task for the new players to ask their clients to sign up for a global trading software platform and then fail to live up to their expectations. The more seasoned players gain out of such a situation as it restricts the scope of new competition.

Pros & Cons of Forex Whitelabel

Posted on July 20, 2020August 26, 2020 by James Patrick

The trading platforms depict some differences with each other. That is one reason why the traders ought to do detailed research while picking a trading platform over others. It is natural for you to have some questions in mind while starting your career as a broker. Also, you must identify a few of the easiest and quickest means of starting your own forex brokerage. It will help you reach out to your audience in no time.

You may reach out to an organization that delivers such services and enables you to rent a portion of their server besides pulling off your headache. In simple terms, for starting brokerage with a White Label provider, you must find a service provider that offers WL Forex brokerage.

How Significant Is White Label for a Business?

The process that one firm follows while buying the product of another firm and marketing it under its brand name is called White Label. Such an act is performed by a notable organization that possesses expertise worth years in handling the MetaTrader 4/5 with all its technical aspects. Besides all admissions, it will even give you access to the client terminal.

It will keep you from making any high-level initial investment while settling the buying process of your trading firm entirely. By opting for an MT4 Forex WL, you may accept the terms of a monthly pay off as you hire their services. Even for a server-side configuration and installation, it is likely to be a minimal setup fee as compared to other services.

Few Key Facts Concerning the White Label

Most traders are already aware of the fact that the trading devices and MetaTrader 4/5 platforms come with their specific advantages and disadvantages. You will even come across a few benefits and restrictions associated with the WL Forex programs.

Pros of the White Label

Low Initial Investment: Putting all your efforts towards buying the entire server could be risky, expensive, and challenging. You ought to get all issues concerning the trading market on your fingertips right at the very beginning. Only then it will be easier for you to set up your feature-laden trading platform while initiating your brokerage firm. However, the initial costs are much lower even when you acquire the same position as the WL model. You may easily avail the MT4 services and achieve the WL by meeting the monthly charge.

Easy Maintenance: You won’t need to cope with server rents if you hire the WL services. Before initiating the White Label, you won’t need to acquire the configurations of a trading platform. Also, you don’t need to penetrate through the specifications of trade deals. Most of the things are carried out by your White Label service provider.

Simplified Platform: A rookie trader finds it comfortable to step into the trading world when he finds a simple platform. The MetaTrader 4/5 is neither complicated nor is it equipped with features. Most beginners require more time to learn the facets of a sophisticated platform. The WL ensures a comfortable and accessible platform for the rookies. All that you require initially are for practicing and utilizing the MetaTrader 4/5 tools. Once you start using the platform, you won’t need much time to gain control.

Online Branding: Online Branding is all about helping the visitors identify with the presence of a business. By opting for MT4, you will enable your visitors to show the platform on their logo. This, in turn, will help in promoting their brand among the target audience. Remember that your clients would remain loyal to you once you succeed in winning over their trust. Associating the trading platform with a brand while starting brokerage will create more chances of popularizing it going forward.

Cons of the White Label

Reliance on Platform Creator: You will use the brokerage of new services while renting the server. It will not be possible for you to configure a vast majority of the MT4 server settings that are accessible. Besides, it might not even be possible for you to use the add-ons or plug-ins developed by third parties as it might slacken the whole MT4 server performance. While renting a server, the capacity of your work gets restricted.

Conclusion:

To some extent, you can fulfill the gap of reliance and control, which are amongst the most crucial downsides of the White Label. During the initial phases of your business, you will need to make small investments. You can make it happen by renting the platform through the initial stages.

It will become much easier for you to improve your MetaTrader 4/5 platform as your business acquires more clients while expanding. Tasting success with the newly-launched business gets easy when you hire a reliable and renowned service provider.

How to Compare Trading Platforms like MT4, MT5 and Ctrader

Posted on July 13, 2020August 26, 2020 by James Patrick

In Forex, the trading software integrates multiple indicators and plug-ins that render assistance in trading of currency pairs. The cTrader, MetaTrader5, and MetaTrader4 are amongst the most frequently used platforms used in the Forex market.

MetaQuotes had developed MetaTrader platform bearing MetaTrader5 and MetaTrader4. MT4 is a trading platform that has grown in multiple folds since its launch in 2010. Its successor MT5 has also become quite popular of late, but it still hasn’t got rid of the older version.

Both the versions show some common and rare features. For instance, MT4 as a software platform has some restrictions and looks pretty simplistic. While starting your forex brokerage you will be able to pick one of the 21 timeframes associated with MT5 or up to 9 timeframes associated with MT4. MQL5 and MQL4 are coding scripts that develop the technical scripts and pointers of MT5 and MT4 respectively.

Besides having an identical interface, MT4 and MT5 help traders in setting up their trades over an automated platform using expert advisors. The candlestick, bar, and line are the most popular form of charts that the three support. Similar steps have to be followed while choosing a specific type of chart.

The Spotware Company has rightly launched trading software like cTrader. In 2011, the cTrader was launched alongside MT5. Both of these have come up with pointers and plug-ins of a complex nature for their users. However, the cTrader even enables the users to make use of a dot chart and appears modern.

An Overview of cTrader, MT5, and MT4

Different trading plug-ins and instruments can be availed with Forex brokers. It is crucial for a trader to choose his broker carefully while trading in Forex securities.

The brokers deliver codes that can make it simpler for a trader to consider various trading asses and open positions. The cTrader, MetaTrader5, and MetaTrader4 are among software that is most frequently used for trading purposes. Most traders have used these trading platforms and have known their similarities and differences.

A Small Programming Background

Before you take the plunge in doing a fair platform comparison, check out the idea and reasons behind their creation.

In 2005, MetaQuotes had launched their newest trading software in the form of MT4. The software was primarily responsible for altering the whole trading scenario by replacing all other MetaTrader programs that ruled the time. Besides offering an improved platform, the main objective of the platform was to improve the stability of the server. It was a platform that sufficed the needs of both the rookie and experienced players. MetaQuotes had launched the latest MetaTrader version (MT5) in 2010. A few add-ons have been introduced for the software with the latest version.

The new programming source equips traders with features that help them trade in various commodities, known stocks, and other instruments. The year 2011 saw the introduction of major trading software called cTrader. A few unique tools and securities were introduced with cTrader as it happened with MT5. However, the cTrader interface and layout seemed more advanced in comparison to the MetaTrader programs. The C# language involved in it is quite common and enables developers to innovate different tools and programming scripts.

Uniqueness of Designs

Both programs share some unique properties and similarities in between. The designing aspect of MT5 and MT4 has been the same as these platforms owe their release to the same organization. Alongside the interface, there are a few other elements like a market-watch and chart forms wherein the platforms depict similar programming features. Considering Forex pairs of the most popular type, there are four live charts occupying most of the screen. The user can alter the stock layout as per the need. The screen even has its bottom and left segments showing different indicators and plug-ins for use.

The cTrader comes with an advanced and yet simple design. The fact that it enables the interface to change its theme is one of the program’s key advantages. You may choose any of its dark and light shades while choosing a theme. Although it appears to be very clean, the interface brings froth numerous charts, indicators, instruments, and tools that are favorable for trading.

The cTrader even has a unique layout for its chart as compared to MetaTrader4/5. The central position of its interface holds a single chart that can now accommodate four distinguishable charts. That is why cTrader holds more room at the lower end for containing the position details as against the MT4/5. Likewise, cTrader even extends more space on the left for containing the trading instruments.

How To Choose a reliable MT4/MT5 Whitelabel Provider

Posted on July 6, 2020August 26, 2020 by James Patrick

Securing a world-class White Label platform for trading is necessary while running a Forex Brokerage. While narrowing down your choice of a Forex technology service provider you must keep this crucial point in mind.

Committing a grave mistake in forex brokerage might cost you dearly; you must think twice before picking a platform that offers its services. You must check out the background of your prospective WL technology provider and do extensive research on their technology before starting your forex brokerage.

Offering an Efficient Forex Platform Running White Label Technology

You may find it necessary to acquire some knowledge on all of the platforms that you come across in the marketplace. For that, you will need to identify the views shared by Forex technology experts that created the world-class MetaTrader4/5 trading platform. An application or software that supports the trading logic helps in establishing a trading platform. The concept behind all such software follows the same principle.
All of the software tools are ideally designed for trading and they will enable you to explore several trading options. The fact that these platforms are developed for multiple target markets helps them provide for so many options. Picking the appropriate trading software holds the key to your brokerage success at the very beginning.

Determining the Best MetaTrader4 White Label Technology Service

The most popular forex platform is the MetaTrader 4/5, which was developed by MetaQuotes. The MT4 platform yields the most sought after solution for global traders even today. What could be the reason for you to leave a proprietary trading solution and opt for mt4 white label solutions? MT4 doesn’t restrict your trading opportunities with a proprietary design rather it gives you the much-needed freedom to trade in a specific way that you favor.

Reviewing a Plethora of Forex Trading Platforms

The technology that you use will help you determine the most appropriate mt4 white label provider. You must ensure that you pick a platform that runs a very effective and quick programming technology. You may need to use it across a plethora of smart devices and hence it has to be responsive in look and feel. That is why it is even more important for you to check the platforms and know if your favorite prospect supports them

Ascertaining All Necessary Technologies

Various systems supporting your business and its back-end demand the assistance of advanced technology. Such technologies should support the smooth integration of various tools that deliver unique functionalities. A plethora of trading facets would come with MT4 including various smart applications, an easily accessible station, web traders and few specific Windows and iOS support features.

In an attempt to choose your MT4 white label provider, you are zeroing in on your forex technology service provider. That way, you are comparing and choosing the best provider of WL MetaTrader 4/5 for all variation that you need.

Back-End and CRM Support

Make sure you avail all crucial technology solutions from your MT4 White Label provider. It must include a simple customizable back-end support feature alongside a dynamic CRM system. Integrating all of your customer details is important and you ought to maintain things cohesively. It will help you gain access to all crucial business information based on research and development. It will help you in running all operations smoothly and accurately in the long run.

Appropriate CRM Solution for Management and Integration

For those of you that wish to fulfill the demands mentioned above, it is essential to use a CRM Management and Integration tuned with any Forex solution. Such CRM systems are designed to extend support to forex brokers and can help you manage details of a large volume of sales accurately.

The features of CRM and back-office systems that reign the global trading arena are quite amazing as they yield unique functionalities with great insights, experience, analytics, and privacy.

Summing Things Up

Only a world-class service provider can render high-quality service like Professional consulting. Their workforce must comprise of professionals that are thoroughly experienced and dedicated. They will assist you in navigating through the various steps and options of starting a brokerage. In doing so, they will also ensure that you achieve successful outcomes with thick and thin.

Definition

Key Differences Between MT4 and MT5

Conclusion: Which One Should You Choose?

1. Find Your USP

2. Create Your Logo

3. Create a Brand Awareness Campaign

4. Double Down on Social Media Presence

Ending Lines

Step 1: Form a Company and Get Your License

Step 2: Get a Forex Trading Platform

Step 3: Setup Payment Channels and Liquidity Offerings

Step 4: Beta-Test Your Offering and Prepare to Go Live

Step 5: Market Your Business

Ending Lines

1. Create an Audience Persona

2. Understand the Power of Your Brand

3. Invest in Digital Marketing

4. Create a Knowledge Bank

5. Invest for the Long Term

Develop a Simple and Updated Website

Ending Lines

Few Crucial Points that Make It Inevitable For Your Business to Launch a Website:

Pose Your Website as the Face of Your Organization

Let Your Visitors Identify with the Cause

Display the Market Updates

Become a Brokerage Firm that Leads the Market

Consult Your Analytics before Putting in Your Best Efforts

Develop a Simple and Updated Website

Get a User-friendly Design

Educate Your Prospective Users

How It Feels to Explore MT5

MT4 Owes Its Success to EAs

MT4 Still Looks Futuristic

How Significant Is White Label for a Business?

Few Key Facts Concerning the White Label

Pros of the White Label

Cons of the White Label

Conclusion:

An Overview of cTrader, MT5, and MT4

A Small Programming Background

Uniqueness of Designs

Offering an Efficient Forex Platform Running White Label Technology

Determining the Best MetaTrader4 White Label Technology Service

Reviewing a Plethora of Forex Trading Platforms

Ascertaining All Necessary Technologies

Back-End and CRM Support

Appropriate CRM Solution for Management and Integration

Summing Things Up

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