Trading in forex is tricky and it takes a lot of study to get total understanding about forex trading. But what’s more complex than forex trading? The answer is ‘being a forex broker’! So, when you know that there are international laws, licensing regulations and so many other complexities involved, anyone can feel a little bit worried. Well, there are easier ways to be a successful forex broker. And the best of them all is – Forex CRM. This is a one-stop solution which can help you to expand your reach and traders’ pool, in line with the given guidelines.
So, here are the 10 facts that will cheer you up, if you are worried about forex broking!!
One thing that comes in the mind while thinking about forex is… ‘How can people speaking so many different languages can come together on a platform?’ Well, that is possible because forex CRM – especially Cloud Forex CRM – allows your team to communicate with the traders in their preferred language.
MT4 and MT5 are the platforms that allows traders to do trading online. The different between MT4 and MT5 is that… MT4 is built specifically for forex trading while MT5 offers allows you to trade in Futures, Stocks and CFDs. You can integrate them both with your CRM and get on with the business, instantly!
Introducing Brokers are one of the most important link in the forex broking business. Just one IB can bring significant amount of business to any broker. With the forex CRM, you get the opportunity to connect with the maximum number of IBs and accommodate them in your hierarchy, for the best returns.
In the relation between a broker and an IB, the commission management is very crucial. The CRMs allows the brokers to customize the commission plan for individual IBs. And when there is a dynamic system in place for commission, there are more chances of having a long-term association with the IBs.
When there is a huge competition to get maximum number of the traders on board, the team need to be manoeuvring faster, as per the situation. Using a forex CRM, the brokers can assign the roles to the team across the hierarchy and give them requisite permissions and access, with just a tap on screen.
A broker can get all the information and data about the trading activity on the platform so much easily with the forex CRM. Be it their monthly, quarterly or annual report, a broker can keep the sharp eye on everything that goes on the trading platform. Also, with the analytics, brokers can plan their way forward too.
A forex CRM is not just a one-time development, it is a comprehensive process to perfection. So, a broker can always call-in the technical team and get the CRM related issues resolved easily. Using the ticketing system, you can raise an issue instantly, without any downtime. Also, it is always good to have a support system around.
Managing sales or client relations is one of the most important tasks of the CRM. If a broker can manage to get more people on-board, that is the first step towards success. So, keeping track of the sales processes and support actions by the team becomes crucial for a broker. With so many features, CRM helps you do that easily.
The trades use ‘Trader’s Room’ to execute their forex transactions on a forex trading platform. And while their privacy is secure from other traders, a broker has the right to get real-time updates about the traders’ activities. CRM allows the brokers to get live notifications and do what’s needful.
One thing that all the traders want is the realisation of their trading benefits. For that, there must be a system in-place to connect the funds, e-wallets and payment gateways. A CRM brings them all together in one place to give the traders and IBs, a great experience. And it also, boosts the trust factor for everyone.
Cloud Forex CRM is a brainchild of Pheasantech. It is one of the best CRMs available today, which you can customize and utilize to meet your forex broking goals. With Cloud Forex CRM, you can give the traders, the IBs and your own employees a great experience, while meticulously managing everything. It is secure, fast and effective way to manage the relationships with everyone. Cloud Forex CRM has all the tools and systems set for you. If you are ready to take a plunge into the forex broking business, click here to request a free demo. You can also contact us through e-mails on email@example.com .
18th Jul 2019
26th Jun 2019
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.