If you are planning to upgrade your IT solution, you’ll soon be faced with the eternal dilemma: should you choose off-the-shelf solutions or get bespoke customized software? While the first option offers a ready-made and instant install, usually with little or no teething problems as it’s likely that many other users will already be using the solution. A simple decision then?
However, in a climate of increased competition and the need to be different a bespoke solution, develop especially to meet your business individual specific requirements may be the better option for long-term success.
While there are advantages and disadvantages to both approaches, a bespoke solution in the highly competitive forex sector could be more appropriate, especially when dealing with online trading platforms.
Yes, off-the-shelf trading platforms have some benefits. Along with the cheaper prize – the costs are spread across a large number of users; offers potentially more functionality and is available immediately. But on the other hand, the variety of options and add-ons could mean adjusting your existing systems to fit the solution rather than fit seamlessly into your business, which could affect the efficient running of other parts of the business.
Also with some off the shelf platforms, you may be frustratingly lumbered with irrelevant add-ons or space zapping elements not required by the business or your users. You are also at the behest of the technology providers for product or system upgrades and technical support.
A bespoke online trading platform, like a glove, can be designed to fit perfectly with your requirements and meet specific nuances of your operation. This ensures you to get a solution that works exactly how you need it to and delivers the results you want. This could mean, for example, establishing a trading platform that easy multi-level management systems, one click trading or better manage the risk better.
Bespoke trading platforms can offer more flexibility and scalability as it can adapt over time to match your changing requirements, and accommodate business growth. Additionally, it can help maintain a competitive advantage, which is so vital in a congested marketplace.
As customers are increasingly demanding “smart” solutions, more companies need to respond by offering systems and the right level of expertise to support to grow the business at a pace it is comfortable and able to cope with.
That is why Vertex Trader chose to offer an online trading platform that fulfils all the brokers’ requirements. VertexFX Trader is a real turn-key trading solution for every business model whether Margin Trading, Binary Options or Physical Delivery, delivered all in one solution to the trader in one account. As it’s built as an open source solution it allows almost every type of integration and ensures you more individual solutions that will fit perfectly your needs. And, thanks to its vStore, VertexFX allows brokers and developers are able to develop even more bespoke solutions.