Can the Hosting be done on Our Server?

As we respect the data privacy of the client’s data, we never host any database on our server, it's always hosted on the client’s server but as the core application has our proprietary rights we host it on our server. So ideally we never share the source code.

How am I bound for the CRM contract?

The minimum tenure to continue the CRM subscription is 3 months, which is the first 3 months as we accept payments only Quarterly basis. If you want to discontinue after 3 months, you need to inform us at least before two weeks of the expiration of the first quarter.

Do I need to Sign an NDA?

We get one documents signed which is called EULA, this document protects the rights and obligations of both the parties.

How can we be eligible for any future updates?

As our company is continuously working on new updates, any new feature included in the product will be given at no extra cost.

In how many days I can start using Cloud Forex CRM & Trader’s Room?

We have a prerequisite list of different components needed to integrate the CRM with your Trading Platform & Website, once we have all this information in place it takes about 5 working days to integrate the system.

Can I get more than one language for CRM and Trader’s Room?

Currently, we already have 5 languages integrated apart from English, if you need any other languages to be integrated, we will get it done for you with no extra cost, provided you give us the translation.

Trader retention with a retail forex CRM, using social media

04 th

Oct

Trader retention with a retail forex CRM, using social media

The Bank for International Settlements (BIS)’s latest triennial report says that nearly $5.1 Trillion are traded in the forex market every day – Yes EVERYDAY! So, you can imagine how huge this market is. There are thousands of forex traders all over the world and this number is constantly growing. People are looking for a good forex trading platform, there is a huge demand in the industry. And this is the precise reason why many people are starting their own forex broking platform or white label brokerage firms everywhere. But this is situation also gives traders so many platforms to try-out and choose from. So, for a forex broker, it raises one very important question – How to retain forex traders on a trading platform? In this blog, we will discuss the ways to use social media for retaining forex traders.

What is the role of CRM in retaining traders?

A Customer Relationship Management (CRM) software is a very useful tool for any forex broking business. CRM helps you in managing the relationships with existing and potential traders. It equips your sales and support teams with so many amazing functionalities which allows them to manage multiple traders at the same time and boosts their productivity. CRM helps you collect data, analyse it and create a report on the usage patterns of the existing users. You can use these statistics to predict certain type of behaviour by certain tradersin certain situations. You can use the findings from these reports to selectively manage and strengthen the relationship traders, using social media platforms.

How to use Social Media for retaining traders?

1. Share information and updates

regarding the latest things in the forex trading market. Educating the traders is a welcome step because if your knowledge can help someone in their trading tasks, they are more likely to stay put on your platform.

2. Write blogs and share it using the social media platforms

This is one step ahead from just giving the traders updates. Through blogs you can give in-depth knowledge to the traders. This helps in building reputation for your forex broking platform and helps in retaining the traders.

3. Connect and converse with people

Nowadays, social media has become the place where people can directly connect with you and start a conversation. You can also stay connected with the traders and keep the relationship alive with regular interactions. It helps in giving your business a more humanly personality rather than being just a web portal.

4. Share promotional materials on social media

People might say otherwise but sharing content on social media helps you leverage the word of mouth publicity effectively. The traders also use social media and they will appreciate your efforts for sure.

5. Ask for feedback and ratings on social media

It is of course helpful in getting more traders on board but it also helps in understanding the issues faced by the traders and resolving them faster. You can launch a satisfaction survey and based on the responses you get; you can design your way forward.

6. Analyse your activities on social media

There are so many social media management platforms available such as Hootsuite and Zoho, which can help you manage the social media profiles effectively and obtain certain analysis reports which can help you define your strategy in a better way, and retain more traders.

7. Engage in forums and discussions

Forums and discussions, either in the comments sections or social media groups, are the best way to reach out to new people as well as building bonhomie with the existing traders. Everyone likes a response; this is the mantra of social media.

8. Launch promotional campaigns on social media

This is a very important step for acquiring new traders as well as retaining the existing traders on your platform. You can selectively offer rewards to certain eligible traders; you can offer certain benefits and retain your existing traders.

There are so many ways in which you can retain the traders on your forex trading platform. Social media is the one platform which can give you an advantage over your competitors and their strategies. You can use the social media to create strong relationships with the traders and give them a good trading experience. Cloud forex CRM is one of the best CRM system you can get. Cloud Forex CRM helps the brokers manage their relationships with the traders, without any hassles. Also, it helps you create and execute a comprehensive strategy to acquire and retain the traders on your trading platform, using the social media. You can ask for a free demo or you can make a Skype call to understand the features of Cloud Forex CRM, anytime.