The global COVID-19 pandemic, has greatly increased the number of participants in the online foreign exchange markets, as a result, we have seen an increasing number of startup brokerages. The MT4 White Label trading platform remains to be the most sought after and cost effective for these startups. Many new white label applicants always assume that MetaQuotes would approve very easily right so long they have their setup fees paid to them. This however is not true.
The applicant must first be an entity that is legally eligible to carry out the business. The KYC documents must belong to the Director and Shareholders of the applicant company, and upon application, all this information must be stated clearly in the white label application forms. The information must be clear and personal information has to be similar to what is stated on the applicants’ respective passports or Identity Card. The application also require that you show proof of ownership of the website domain name, and the applicant must be reachable through the contact information provided in the application form.
Any information not submitted in proper would lead to delays or even rejections if the applicant looks dodgy. If you are considering applying for a white label trading platform any time soon, please be prepared that the above criteria must be met. Reach out to us for an in-depth understanding, click here to consult.