The good news for the sellers is that the IO Scout vs Sellics comparison report don't end there. In order to fully evaluate the differences between the two products, the same comparison report also compared the features of each product, including their uniqueness. The comparison revealed some interesting facts about the differences between the two services.
Like the original product, the features of the reseller software are divided into five categories: functionality, website connectivity, fraud protection, Web site creation and business intelligence. With the new interface, some features of the software were replaced with simpler and more intuitive interfaces. For example, an option to create an exclusive website for an individual trader was removed from the standard version of the software. Also, the new interface allows a trader to select specific categories and subcategories of data to be displayed in the results.
Fraud protection is another area where the new interface makes the comparison easier. By default, the new interface displays the details about the clients and the actual payment history of each one. But by clicking on the fraud prevention option, a trader can see all information related to the clients, including the number of frauds and the number of successful transactions on a monthly basis. It is easy to add details such as the status of a trader's account or the payment history of a broker.
Another thing that has been modified in the new interface is the ability to add and remove accounts. Before, only administrators could add accounts. Now, anyone can add accounts without needing to be a member of the reseller program.
One of the unique features of the new interface is the ability to search for data through the NetBIOS domain. This feature was once available only to registered users of the software, but now anyone can search for the keywords.
The fraud prevention can now be configured per trader. It's possible to restrict access to a trader if he hasn't entered his valid login ID. Besides, another trader can be added if an authorization key is not available.
These features are available for basic configuration options. However, some advanced options are unavailable. These advanced options include: removing the premium functions for beginners, managing accounts by contacts and adding multiple traders to a single broker account.
The markets are updated automatically after every trading day. Some brokers will also automatically synchronize the market data with other markets. In this case, the users will be provided with the latest prices of the different currencies in order to compare the differences between the two products.
Since market data from the original product is maintained by a third party, it is up to the traders to maintain the new product's market data. The way to do this is to use an API.
The new product is different from the original because it comes with a reseller software package. The reseller software enables users to transfer the program into a separate account and then transfer the profits from the successful trades to the original account.
With the reseller software, users don't need to have a broker's broker account. The software package will keep track of all broker's trades and the earnings. When the broker is removed from the accounts, the broker software reverts back to the user's original account.
The new interface does have some drawbacks, but those are very minor compared to the advantages that it offers. As a final conclusion, the advantages of the new interface are incomparable to the benefits of the original version. The new version is in fact, a reduced-price version of the original product.