What Asia’s IBs and white label partners really want: A view from within
Retail FX companies, prime brokerages, white label providers and liqudity providers have collectively set their sights on the Asia Pacific region recently. Indeed, the deluge of Western firms which have committed substantial effort toward onboarding commercial and retail customers, be it traders or FX brokerages as white label partners, all eyes have been looking east […]
Retail FX companies, prime brokerages, white label providers and liqudity providers have collectively set their sights on the Asia Pacific region recently.
Indeed, the deluge of Western firms which have committed substantial effort toward onboarding commercial and retail customers, be it traders or FX brokerages as white label partners, all eyes have been looking east for some time now.
Cultural differences and business environment inconsistencies between the West and the Far East have been a major point of interest for many firms, therefore FinanceFeeds today spoke to Gobboon Tangsawasdikul CEO & Founder of Brokers.Solutions, a firm which specializes in end to end enterprise solutions for FX brokerages that is based in Thailand.
Mr. Tangsawasdikul explained that Brokers.Solutions has assisted in setting up a series of brokers in East Asia and other regions and concurs that all of the company’s clients are aware of the importance of IBs for their business.
“From our experience, a broker needs a number of things to ensure a good cooperation with IBs. First of all, the broker must give traders a great and hassle-free experience all the way round, concerning execution, deep liquidity, safe and quick deposits and withdrawals, customer support and everything else” said Mr. Tangsawasdikul.
“If a broker doesn’t treat his clients well, the IB isn’t going to earn the commissions he could in the long run. Secondly, whenever it is possible and makes sense, it can be very good for a broker to see his IBs in person from time to time” he said.
Success as an IB in Asia requires investment in relationship building
Mr. Tangsawasdikul states that with regard to ensuring good service to clients in order that they will in the long term perform, he said “This is especially so in Asia. We have seen brokers having successful, year-long relationships with IBs, earning broker millions in deposits, just because they put in a little extra effort to gain trust.”
“IBs need access to world class back office systems and reporting, which makes signing up, planning and payouts easy. Our company has developed a full web solution for brokers, including everything needed for IBs.
“We also provide various compensation plans tailor-made to fit different affiliate models, ranging from a single level referral, multi-level referral, all the way to MLM-like referral compensation plans, giving brokers flexibility and ability to respond to every requirement of IBs.”
Mr. Tangsawasdikul moved on to value proposition, a very important aspect in Asia, where many firms are competing for the same business, and requiring similar initial costs for MetaTrader 4 white label licensing and website and CRM integration. “We also have several clients who allow Brokers.Solutions set up a free website for their IBs which is definitely a good way to give a good partner something extra.
Driving a hard bargain
“We obviously only build websites with the best and most modern features – responsivity, HTML5 video backgrounds, solid hacker-proof coding, Heartbleed protected SSL all the way down to tight server security such as DDOS active protection and brute force protected firewall.”
Mr. Tangsawasdikul concluded by explaining “It is obviously also important for IBs to get a lucrative compensation scheme, but most IBs know, at least the ones who have been in business for a long time, that in the long term, the above points are more important than getting one dollar more or less per lot traded by their clients.”