18 th


7 amazing tips to make the best use of your forex CRM

Forex trading has been growing at an exponential rate. The global forex trading market has reached $1,934,500,000,000 - that is 1.93 quadrillion USD in 2019. So, when there is such a gigantic trading market thriving with millions of forex traders worldwide, it is understandable how big is the demand for forex brokers to facilitate trading. Being a forex broker is lucrative and so much easy these days. And with the help of forex CRM (Customer Relationship Management) software, it is even easier to get more and more forex traders on board. To read more about how CRM acts like a bridge between the TRADERS and the BROKERS, click here.

And if you want to know how to make the best use of your forex CRM, read on!

Here are the 7 tips that will make you better at forex CRM…

1. Carry-out Lead Analysis

CRM helps you analyse the source of the leads so that the brokers can understand where they can find potential leads in the future. It could be an emailer, social media, digital ads, client referral, mobile searches, it could be anything. Research says that 43.5% traders 25-34 years old and they belong to the digital generation. if a broker knows the exact source of the leads, it becomes easier to know where these potential traders are and pay more attention to the major sources. The best part is, CRM helps the brokers to gather the data and run an analysis automatically.

2. Analyse Conversion Rate

Getting more leads is important but it is also important to know which leads are converted more consistently, which source gives leads that are turned into a trader on your platform? Obviously, a broking firm must know through which channel more and more traders are coming on board and pursue it aggressively. This is possible with CRM because CRM allows brokers to compare the number of leads and amount of revenue those leads have generated, every source of leads. Thus, brokers can spend more marketing money on such profitable sources.

3. Monitor Lead Management

Every lead needs to be pursued with complete dedication and sincerity. For a broker, the biggest task is getting more traders on board, so every lead counts. Of course, there would be sales team to pursue these leads and open a conversation with them. CRM is the software that makes it so much easy for the sales team to manage the leads. It allows them to track a lead and actions taken on it. CRM is the best tool to avoid bottleneck situation in the lead management, by identifying sales issues and resolving them in a timebound manner.

4. Keep Records of Communication

CRM helps the sales team to communicate with the leads through VOIP calls and other mediums. More, the sales team can keep a record of the communication for future reference, through CRM. The team can make VOIP calls, record them and store them using CRM software. The team can see the chat history and email history in the CRM software as well. By maintaining communication records, the brokers can analyse them and fine tune the sales pitch and process accordingly. CRM software such as Cloud Forex CRM can help you manage the communication effectively.

5. Monitor Account Activity

Once a trader is on board, either on a regular account or a demo account, the brokers must know more about the traders and also their trading activities. This helps in establishing a more meaningful relationship with the traders. It allows a broker to know which traders are just exploring forex trading and which traders are doing some serious trading. The broker can now offer services according to the preferences of the trader. The connection with the traders can be more productive for both the traders as well as brokers, through CRM.

6. Troubleshoot Traders’ Problems

CRM allows the traders to seek help from your team, whenever they want, through the ticket system. Providing a robust support system is equally important as getting more traders on board. No broker wants to let any trader go away because of a technical glitch. So, helping the traders out definitely improves the relationship between the trader and the broker. CRM helps the traders have an amazing trading experience on your trading platform and this is good, because they will get more traders on board through referrals.

7. Allow Smooth Account Closure

If a trader has decided to leave any forex trading platform, it is the decision of that individual trader. But as a broker, you should try to understand the reason of their leaving the platform. Many a times, the traders just drop off without making any deposit or after making initial few deposits. CRM helps you track such traders and help them go for a smooth account closure process. It shows that the trading platform is professional and credible as far as the good practises are concerned.

Forex CRM is the best way to get more traders on board and manage the relationship with them in a professional manner. Cloud Forex CRM offers features such as Lead Management, Data Tracking, Activity Monitoring, Troubleshooting and everything else a broker needs to attract and retain more traders and IBs. Cloud Forex CRM has been used by platforms such as Fx Nice, Cube Forex, FxPrimebook, GCC Brokers and Fin Pro Holdings INC. If you want to create a fore trading platform and be a successful forex broker, you’ll need a good forex CRM first. Contact Cloud Forex CRM on info@cloudforexcrm.com or just click here to request a free demo.


You may also like

How to Use a Forex CRM to Improve Your Brokerage Efficiency

Every broker has a goal to improve his brokerage efficiency and that can be achieved only ...



Cloud Forex CRM Mobile App - The ease of managing the business on the go

By now, almost half of the world is connected through a technology called mobile, no need ...



How to Maximize Your Profits with a Forex CRM

The forex market welcomes all new and old business owners with open arms, but expenses or ...



The Benefits of Automating Your Forex Brokerage with a CRM

If you are already in the Foreign Exchange Market, you know that the number of new ...



How Can The Right Forex CRM Help Convert More Leads into Traders?

Being a Forex Broker, your main objective is to get a maximum number of active clients. ...



What Type of CRM do Forex Companies Need?

In the field of financial services, the digitization is increased and the growth is driven by ...



About Us

Cloud Forex CRM is a cloud based back office that nurtures your Forex Brokerage Business and give your clients a cutting edge solution to manage their trading activities.

Request A Free Demo
refresh captcha