Integrated ‘broker-in-a-box’ solutions are a phenomenon which has begun to proliferate the technology provision segment in recent times, and while making the whole solution very straight forward to implement, thus easing the establishment of new brokerages, it has resulted in many of the offerings having so many similarities that it is hard to judge them apart, therefore creating a multitude of identical systems offered to brokers by system providers.
In addition, there are now a number of low-latency STP brokers who will white label their entire system and even provide web integration and hosting, CRM and back office facilities, therefore compounding this market saturation of seemingly identical solutions even further.
As a result of the existence of such levels of competition in the trading environment, technology company X-Financial Solutions (xFSOL) has developed a completely open and flexible system in favour of Forex and Contracts for Difference (CFD) brokerages around the world.
In preparation for 2013, a year that xFSOL believes will be a year of new found prosperity for its clients, X3 Open Hub is launched and packaged with no processing fees.
“In 2012 we all saw how the global climate affected forex trading volumes making it increasingly difficult for brokerages to maintain a competitive advantage and find new revenue streams” stated Juan Jutgla, Director of International Business at xFSOL.
“That is why we have spent the last few critical months dedicated to developing this ground breaking technology for our clients, and it’s paid off.” X3 Open Hub is more than just a trading environment as it comes pre-bundled with xSocial, xStore and mobile and tablet trading applications.
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X3 Open Hub is a completely open trading concept. Brokers can differentiate from their competitors by creating their own proprietary front ends, mobile applications or dedicated apps for their clients. It also comes powered with the latest in cloud hosted forex technology which allows brokers to bypass the exorbitant cost of local servers and the administrative fees that it takes to maintain them.
xFSOL has a liquidity neutral attitude. By using their integration technology, brokerages can seamlessly connect to any liquidity provider of their choice. This revolutionary technology is offered to existing banks and brokers to add to their current offering, boosting revenues and regaining their competitive advantage. Additionally it is available to start-up brokerages as part of the full broker solutions package which includes X3 Open Hub, back office systems, risk management, support and liquidity (if required).
Most importantly, there are no processing fees or shared revenues. This is just another feature that allows forex brokers to boost revenues with xFSOL’s new solution.
It is certainly the case that given the similarities between other third party technology providers’ offerings, and the widespread availability of off-the-shelf white label packages offering brokers a chance to start their business with a full system, xFSOL’s intention is to give them an edge over their competitors by allowing brokers to fine tune the system to suit their own requirements.
Juan Jutgla considers differentiation from the crowd to be essential in today’s market in order to increase business and attract new customers. “With a solution from xFSOL, not only does the broker have the ability to create a bespoke front end, but the additional offering to their clients of 21st century trading opportunities. We also provide an adaptable CRM and a very high level integration of back office systems. The main reasons why a brokerage would choose xFSOL from the big STP brokers white labels is very simple: to be independent and to be different.”
“These two strong characteristics in our industry mean different things for different market players. For us, independence and difference is the ability to create your own trading applications or platforms, connect to any liquidity provider, avoid giving a percentage of revenue to the technology vendor (like the processing fees model does), and integrating the systems to CRMs, web sites, in-house back office systems, and other tools in a seamless manner.”