If you’re looking to launch a trading platform or upgrade your existing offering, you’ve probably considered white label tools as a more affordable alternative to building a new platform from scratch. But how exactly do these tools work, what are their benefits, and when might they be right for you?
Choosing the right trading solution for your business is something you shouldn’t rush into. If you’re keen to learn more about white label tools, we’ve shared everything you should know in this guide. By the end, you should have the knowledge to move forward with a decision.
What do White Label Trading Tools Offer?
White label trading tools are essentially pre-built platforms that can be custom-branded for your business.
The obvious benefit of these tools is that they’re cheaper and quicker to set up compared to designing and building your own platform from scratch. They’re built by companies with extensive industry experience, like D, and offer all the ready-made features that you might want to provide to your clients.
When you’re deciding whether or not white label trading tools are right for you, make sure to consider the following things:
Assess Your Business Goals
First, determine exactly what you want to get out of your investment, and whether or not this makes white label tools the most suitable choice.
For instance, if you’re prioritizing speed to market, a white label platform will probably be the best fit. On the other end, if you prefer to have full control over every feature, you might find that building in-house suits you better. You’ll need to consider your long-term strategy, not just your immediate goals.
Evaluate Your Budget And Resources
Investing in a white label trading platform will reduce your upfront development costs because you won’t have to do any of the design work yourself. Plus, the ongoing licensing fees are much easier to manage when you compare them to the alternative (hiring a large tech team).
If you’re a startup company or you need to be mindful of your budget, make sure to calculate costs carefully and compare the total cost of ownership between white label and building your own tools.
Consider Your Customization Needs
The level of customization you want will also determine the suitability of a white label trading platform for your business.
You might prefer a plug-and-play platform that you can simply customize with your own branding. Or, you may lean towards a platform that needs to be more heavily customized but gives you the option to create something more unique. In this case, keep in mind that white label has limits in terms of how much customization can be done, and building a platform from scratch might be the better option.
Think About Scalability
Finally, a big benefit of the best white label tools is that they come with infrastructure that’s designed to support growth. That means, as your business scales and your client base expands, your tools will be able to handle higher trading volumes.
This isn’t a given, so make sure to ask the provider about things like upgrades and server reliability before you commit to working with them.