When launching a broker, it is relatively easy to plan for what you need to get started. What is often missed is to ensure the solution you choose to start your business with is equally ready to take you to the next level when your business succeeds.
We meet many brokers that, after a while, want to start managing the relationship with their liquidity providers themselves. They might suspect the technology provider is influencing and interfering with the flow, or they've just outgrown the solution and want to add more platforms.
Failing to address scalability right from the get-go can create a drag on your business later on. You could be left with a less than optimal choice of liquidity or a higher price or an inability to add new product features. Any (or all) of these makes it harder to differentiate yourself from your competition and ultimately leaves you with less resources to attract new customers.
By making sure you partner with a solution provider which is liquidity and trading platform neutral, like Fair Trading Technology, you are already prepared for adding new platforms and managing your liquidity relationships as your business grows long before the actual need arises.
No one knows exactly where your business may go or what the next big thing in FX may be, but this simple step could make the difference between being at the top of the game or losing out.
By Karl Alfredsson, Chief Marketing Officer