Building your own binary options platform from scratch will be a very highly priced goal and maybe even impossible if you don’t have the right know-how and tools to do so.
This is why most new brokers prefer to use one of the many existing successful platforms and start a binary options white label brokerage alongside one of the platform providers.
In This way a new broker can have their new website up and running very quickly and even get the help that they will need to get regulated and market their brokerage online.
How much does it cost? Each platform provider has a different set of tailored solutions for new brokers and platform providers such as TechFinancials can even get you an end-to-end regulated solution including fast time-to-revenue with a turnkey solution.
Binary options white label cost differs from platform to platform and each provider has a different way of pricing their products and support. Part of the platform providers take a one time set up fee and others take a smaller monthly fee. Learn more about starting your own binary options trading brokerage HERE.
No matter the costs and fees, the turnaround is very quick as more and more people are turning to brokerage websites with simple and easy to use superior binary trading platforms for online investing. Making brokers large sums of money and fast.
Starting a Binary Options Brokerage
In today’s world of technology, it is possible to start a binary options brokerage in a very short period of time. However, what does the process entail? Here, we have some of the key steps that need to be taken. Costs vary between one platform provider to another, these are only estimated prices.
Step 1 – Legal Registration
The first step for starting a brokerage is to open a bank account and register a foreign company as this is required before you can start to organise the activities of a binary options broker. Help will be needed at this stage and there are many specialised companies, that offer years of experience, to be found. Furthermore, all the documents necessary to the business will also need to be prepared. This first step should only take a couple of weeks and the cost can vary depending on what professional help you seek; costs could rise to $3,000.
Step 2 – The Website
When it comes to the website, it should be kept simple with nothing fancy except an option to enter the web terminal. Important information can be included but the main role of the website is to welcome people to the terminal so the link is perhaps the most important factor here. Again, websites can be created alone or professionals can be called to help.
Remember, you will need a memorable, sensible company name, a decent logo, and a smart design. If you don’t think you can do it alone, there a thousands of professionals that can help from setting up the website to the actual design of your logo. This second step will only take a couple of weeks and the cost will vary again depending on whether you choose to pay for help; costs could reach $1,000.
Step 3 – Web Terminal
With the web terminal, one of the most important factors to consider is speed because if customers cannot access it quickly enough they will soon click away; the terminal needs to open on a separate subdomain and it must allow customers to sign-up with a single click of the mouse.
Ultimately, from the consumer point of view, trading binary options needs to be fast and convenient. For this reason, there shouldn’t be an excess of windows or clicks; everything should be accessible within one or two clicks. If possible, the goal is to have absolutely everything in one simple window; whether it is a quick purchase option, managing an account, viewing statistics, or anything else.
Of course, you will also need a place for customers to create an account and deposit funds and by using bright colors here, you can increase your chances of converting visitors. A high-quality web terminal will take around a week and can cost up to $10,000.
Step 4 – Payment
For the web terminal to be successful, customers must be able to deposit funds cleanly and quickly. To have this happen, you will need to apply to one of the main payment systems which will require an application process. The final step of your brokerage should take around a week and could cost nothing, although it could reach $1,000 depending on the circumstances.