If you try to launch your brokerage as a startup, it will quickly become evident how challenging this can be and often the right selection of solutions is a make or break for a broker’s success and future scalability”
Another hurdle for a startup broker apart from the knowledge of putting together the right components is sourcing economical solutions without compromising quality. You can agree that it would be difficult for a small, low-volume broker to get the same cost-effectiveness that the All-In-One Solution would be able to provide, simply because of economies of scale.
Now, the challenge doesn’t end here. Once you have a winning and cost-effective solution, you are already well ahead with a solid base to build on. It’s crucial at this point to get clients to sign up and start trading. You have a solution with almost everything set up and technical responsibilities being taken care of, so you do not need an army of staff to deal with issues and can instead focus on marketing.
"If you try to launch your brokerage as a startup, it will quickly become evident how challenging this can be and often the right selection of solutions is a make or break for a broker’s success and future scalability”
Other issues that are remaining are the changes to ASIC regulation, the constant Brexit uncertainty, and what the implications will be for brokers and payment providers. Something worth remembering is that changes such as these are challenges but also opportunities to be prepared and capture growth..
Originally published on: financemagnates.com
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TopFX All-in-One Solution: Why cTrader is the best platform for your brokerage
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