FX white label clients demand more à la carte services
FX white label providers are keen to stress the flexibility of their offerings as clients increasingly demand à la carte solutions and the ability to add or remove liquidity providers and distribution partners.
A number of FX white label market participants have established partial solutions that offer a pick and mix menu comprising of products, risk management, back office administration, customer account openings and custodial services. The merits of this approach include access to products at lower initial cost and it has found favour with clients.
Platform diversification is a driver for some clients to work with multiple providers, says Muamar Behnam, head of sales at Swissquote Bank. “More or less all the major FX players offer MetaQuotes platforms and in common with a number of our competitors we have other, proprietary platforms that we offer on a white label basis,” he says.
BMFN CEO, Luis Sanchez, reckons this trend will continue. “Clients need to consider the products and platforms available from each broker,” he says.