Navigating the world’s financial markets can be a challenging past-time, particularly when you consider the complexity and size of individual entities such as the foreign exchange.
Make no mistake; this market alone sees an estimated $6.6 trillion traded globally every single day, while there are also various ways and brokerage types that enable clients to gain access to this volatile and highly-leveraged sector.
In this post, we’ll compare introducing and white label brokers, while detailing the information that you need to make an informed decision as an aspiring entrepreneur and choosing which operational model to pursue.
What is an Introducing Broker?
In simple terms, an introducing broker serves as an affiliate marketing specialist, as it looks to recruit new traders for a primary broker in fields such as forex.
In this respect, introducing brokers eschew the operations of a typical broker, preferring instead to earn fixed commissions from subsequent deposits that are made by targeted clients.
In some instances, an introducing brokerage may take on additional services, such as managing conversions and ongoing retention efforts.
However, this will vary markedly from one service provider to another, so you can tailor your venture to suit your outlook, profit expectations and existing budget.
What’s a White Label Broker?
In contrast, white label brokers are the type of primary operators listed earlier in the piece, with these bona-fide brokerages boasting independent brands, comprehensive client support and key risk management measures.
These elements are combined with standard business operations such as marketing, sales and customer retention, creating a reputable one-stop-shop for clients to manage their various investment portfolios.
However, this description covers premium brokerage sites, and the category can be expanded to include various levels of service.
For example, a white label broker can simply offer a pared-back and ‘bare bones’ type of service, which may exclude risk management tools or comprehensive marketing efforts.
Pros and Cons – Which Option is Right for You?
There are pros and cons to each option, so you’ll need to understand these before comparing the market in detail and deciding what type of brokerage you want to launch.
From an operational perspective, for example, introducing brokers are far cheaper to establish and operate, while such entities can often pass these savings onto clients through reduced commission fees. This may be enticing for some traders, particularly those who are new to the market and looking to find their way successfully.
Conversely, introducing brokers may be far less independent and accountable than white hat alternatives, creating a scenario where your venture is consistently reliant on others to generate a profit.
In the case of white hat brokers, you’ll undoubtedly have a far higher degree of autonomy in building your business, running it and assuming control over your destiny.
However, the cost considerations of opening a white brokerage can be significant, while from a technical perspective you’ll also have to create the requisite server space and technical support to facilitate the needs of your clients.
The good news, however, is that the process of opening a Whire Label brokerage is far more structured and simple than the alternative, making it easier to launch your venture and operate as an independent entity.
Ultimately, the choice that you make will be a deeply personal one, but there are several universal factors that will require key consideration. These include your starting budget and bottom line profit expectations, as it’s crucial that you choose an operational model that offers clearly defined value.
Bringing clean water – Christopher Kenny’s Preservation Earth Project
Science plainly shows that a human can survive three weeks without food, yet most individuals cannot survive three to four days without water! Dehydration sets in, and the person will go into shock and become vegetative even if they continue to breathe. In other words, water is an essential requirement. A living thing cannot thrive without it. Nonetheless, it is a horrifying truth that billions of people worldwide lack access to safe drinking water.
In developed countries, when everything from technology to luxury is available, receiving clean water at home is as ‘natural’ as breathing fresh air. Most individuals in advanced nations may not pay much attention to it, but this is not the case for the rest of the globe. Many countries continue to lack access to clean water sources or water appropriate for human use. Safe drinking water, sanitation, and hygiene at home should not be limited to the wealthy or those who live in cities. These are some of the most fundamental human health requirements, and all countries must ensure everyone has access to them.
The Preservation Earth Project (PEP) made its way to Tsaile, New Mexico. Over time, uranium mining, fracking, and pesticide abuse damaged the water supply, resulting in a high occurrence of numerous illnesses. Approximately 35% of the Navajo people do not have access to flowing water, and some must go to a remote location to fill barrels with water from a polluted local spring.
There is no doubt that climate change is boosting storm strength. Recent natural catastrophes have heightened the need for groups to step up and give support, answers, and relief to individuals affected by such natural disasters. The Preservation Earth Project is a non-profit organization that provides support, education, and solutions to help society transition from fossil fuels to renewable energy.
A look back at Christoper Kenny’s life
Chris Kenny was born in Summit, New Jersey, on May 4, 1961. He was one of twelve children. In 1980, he received a B.A. in economics and finance from Warren Wilson College in Swannanoa, North Carolina. He also attended New York University, earning a commercial real estate management degree from the Schack Institute. Since 2018, he has served as the head of Strategy and E-trading at Hartfield, Titus, and Donnelly. Kenny started his career in the U.S. In 1985. He worked as a Treasury Bond Broker. He formerly worked at Bonds.com as the director of fixed income sales and technological development. His academic background is in business and finance. Chris is passionate about developing and promoting renewable energy, mainly when it is used to assist people in need. The potential to aid those in urgent demand as a result of a human-caused environmental or natural disaster is not just a philanthropic act but also a once-in-a-lifetime educational opportunity.
He used solar power on mobile platforms as a backup power source for emergencies, water purification, and water pumping.
His academic credentials are in business and finance. Chris is passionate about developing and promoting renewable energy, mainly when it is used to assist people in need. The potential to aid those in urgent need as a result of a human-caused environmental or natural disaster is not just a philanthropic act but also a once-in-a-lifetime educational opportunity. He has over 38 years of experience in finance as a salesperson, broker, trader, and investor.
Making clean water available to everyone
In 2012, Kenny founded The Preservation Earth Project, a 501(c)(3) non-profit organization. It provides assistance, education, and alternative energy solutions to help society shift to renewable energy. It was involved and aided Haiti several times after the 2010 earthquake, providing portable solar electricity for water purification and medical facilities. In 2020, the business devised a solution for the Navajos’ contaminated water source. They collaborated with engineers and local officials to build, produce, and install a solar-powered water filtration system for the Navajo people of Tsaile, New Mexico. Other activities have included providing portable solar power to the “Cajun Navy” for rescue and clean-up in areas devastated by the 2015-2021 hurricane season in Louisiana.
The project designed, delivered, and installed a solar-powered filtration system that will provide clean drinking water to the local Navajo community 365 days a year for many years to come. Several more initiatives are in the works to provide safe drinking water to Native American communities on the Navajo Reservation.
President’s letters of gratitude
President Jimmy Carter sent Chris two heartfelt letters encouraging him to continue his charitable work. He suggested calling Habitat for Humanity and asking if they were interested in collaborating on a few projects. He and Kenny both helped out at the charity.
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