Build vs buy – best-in-class trading platforms

06 May 2021, 20:55

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Smaller brokers looking to build a sustainable business need to be able to offer their clients a comprehensive trading platform if they want to retain the relationship. Craig Inglis, CMC Markets MD of Europe, discusses with e-Forex magazine the challenges faced by this cohort of brokers and why trying to piece together their own system probably won’t deliver the best outcome.

As the market matures, clients expect to have access to more than just a generic trading platform, but simply bolting on a series of third party apps doesn’t provide the slick, highly engineered solution that appeals to clients wanting to trade for the long term. The challenge facing brokers is therefore how to deliver a comprehensive offering without incurring the wrath of shareholders.

Failure to properly address this situation can serve to increase client churn, meaning that valuable marketing resources are consumed that much faster. What’s more, by partnering with a broker who already has a broad client base, this provides an additional assurance that the usability of the platform has been robustly tested by real-world clients, with particular attention being paid to how these users interact at every step of the trading journey.

As Inglis concludes “The economics on a white label proposition may look daunting, but it’s clear that the total cost of operation cannot be ignored. What’s the actual cost of doing this yourself, then supporting and enhancing the platform over time? Or perhaps even more significantly, what’s the opportunity cost of not simply taking a comprehensive, off the shelf solution, in the first place?” 

Read the full article here.

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