How to Choose the Right CRM for Your Online Brokerage Business

Your marketing and sales team will thank you for such a reduction of their client retention efforts. CRM for Forex brokers should be, firstly, multifunctional and platform agnostic. The best forex CRM combines data managing, customer interactions and marketing activities. Providing an API will also be a big advantage, since it helps to connect your services and tools with CRM easier. If your Forex CRM system is platform agnostic, you have an opportunity to explore new markets and integrate some additional services without changing a CRM software.

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Performance Tracking

The CRM software market has certainly emerged as the leading software market in the world. Especially in the forex industry, forex CRM provider is a technology provider who offers an essential all-in-one solution to skillfully manage all your client relationships. Many of our customers choose to integrate our IB Module as it is a lucrative marketing tool for brokerages and a proven way to attract new clients. You want to make it easy for clients to make deposits, because the easier that is, the more likely they are to make their first deposit and then keep trading.

With this feature, it is possible to track the monthly, quarterly, and annual records of the client. Some important analytics which is covered in this feature include e-wallet transactions, withdrawal, deposits, IB, and much more. It is very important to manage the team based on an operational hierarchy system. This feature allows the admin to assign necessary rights and permissions to the employees so that the work can be managed efficiently.

Sometimes they require you to use a specific liquidity provider that pays the CRM for providing business. This might seem helpful if you’re just starting out since you won’t need to choose as many services or do things like set up a webpage on your own. However, it also locks you into the rates a single company sets and limits your ability to adapt as your brokerage grows.

MT4/MT5 Integration

In this user case, we will talk about a medium-sized Ukrainian broker who has been working in forex for many years, has an extensive departmental network and a complex withdrawal control system. Before adopting the UpTrader withdrawal control system, the company processes were barely automated. John is a professional trader who regularly withdraws profits from Company X. That is why no one was surprised when he sent another request to withdraw his profit for the previous month.

Forex CRM is one of the main things that helps brokers to differ themselves from each other. Most of them offer the same trading platforms and almost the same range of services, while speaking about a broker management system, there is a room for creativity. Forex broker CRM can significantly increase the financial success of your brokerage business.

Multifunctionality and platform independence

Then, in some cases, they had to contact the dealer to make sure that everything was traded according to the rules. Next, the application went to the compliance department, which may find that the client has not fully completed KYC and that they need to finish the process . Then the application went to the finance department, which once again verified the numbers. And finally, the secretary manually collected problematic requests and took them to the CEO for final approval. Transformation of leads into active traders is considered among the key features of every CRM software.

Verification process is sometimes an uneasy one for clients due to Anti Money Laundering rules and Know Your Customer requirements. Forex CRM software should use the regulation technologies to complete this process without extra troubles. Good CRM allows you to see all your clients and their trading activity, control deposits and withdrawals, monitor KYC procedures, and execute your marketing activities.

Salient Features of Forex CRM

This way, regardless of the geography to which you expand or the trading platforms you add to your offerings, the CRM will remain compatible. This also means that if you wish to add social or copy trading platforms to your offerings, the CRM should be able to easily integrate with them. MT4 and MT5 are the most popular Forex trading platforms and are available through our white label solution.

The flexibility to customise a dashboard to meet the information needs of every agent results in huge efficiencies across the entire Forex business. Impact Telecomintegration brings greater efficiency to operations as well as two cutting-edge features. There are additional features to consider which can deliver a competitive edge in the Forex industry. Some IBs start off as single person entities but grow into larger multi-location businesses which is why the IB portal accommodates a multi-tier IB network. You can use this innovative plugin to conveniently manage your leverage and more. A training professional will guide your team through all your systems, and you are good to go!.

Why are CRM systems important for a Forex brokerage company?

That is entirely natural when beginner brokers are looking for every opportunity to cut expenses, entering the FX market. Customer Relationship Management is not among the solutions to stretch a dollar. High-quality and effective CRMs automate your processes and minimize expenses within diverse operating spheres.

  • Growing your brokerage usually means offering partnerships and accepting new IBs.
  • In the previous article, we wrote that UpTrader Forex CRM has a useful system for controlling fund deposit and withdrawal.
  • Preparation of a checklist to compare the pros with cons of aforex CRM before implementation is highly necessary.
  • As a result, 6 departments, the secretary and the CEO of the company were engaged in approving requests for the broker.
  • There are 8 features that you must pay attention to when choosing a CRM system for Forex brokers.
  • They continue to use legacy platforms when better options exist because of the effort that has gone into integrating other business applications.

Reach your traders by integrating your platform with your phone system, email sender, and SMS. Create automatic notifications for key events, margin calls, and marketing campaigns. LXCRM also provides Affiliate System integration, allowing brokers to automatically track their affiliates’ performance from one location. For your customers, you can enhance their experience by implementing the software with seamless integrations with such third-party tools & payment gateways. Your choice of Forex CRM solution may differ in terms of the requirements of your brokerage and your resources. You may, for example, decide to opt for a Forex CRM provider who offers a cloud Forex CRM solution rather than a traditional solution for your Forex CRM.

For them, choosing it was an easy decision as it offers a solution with benefits not available with other CRMs. To follow are some of the top advantages you will gain from implementing B2Core. In order to get the most of the best Forex CRM systems, check for customer support and training opportunities. To make sure the software is used properly and how to reduce brokerage cost with CRM efficiently throughout the organization, a competent team should be accessible to provide guidance on all areas of it. No two brokers are identical, and no two instances of Yoonit are ever the same. We firmly believe in giving our clients the best chance of success, so we customize everything to fit the vision you have for your forex business.

Fully Customizable. 24/7 Support.

As a result, 6 departments, the secretary and the CEO of the company were engaged in approving requests for the broker. First, the withdrawal had to be approved by the client’s personal manager to make sure that the request was not a scam. Then the request fell in the partner relations department’s lap, because they needed to make sure that extra lots did not get into partner payments.

The key for successful forex business is to achieve customer success by standing unique as your own brand. Creating your brand value is very crucial in the forex industry that is growing huge and highly competitive. The Automated Lead Distribution tool will also attribute leads based on the marketing channel it came through, the language used and IB. Introducing Brokers play a pivotal role in the expansion plans of many brokerage businesses. Impact CRM offers an IB area which can be added later if IBs are not part of the immediate business model. Having a user-friendly front end makes account opening easy and carrying out fund transfers hassle-free.

Couple that with the cost of acquisition in Forex running at five times the cost of retention makes reducing churn essential. Impact CRM empowers every client-facing employee with the information they need to deliver the best customer experience. In the past, fears about data loss when switching from one CRM to another has held many Forex brokerages back. An agent can make a relevant offer while the trader is active on the trading platform. Impact CRM also offers multi-tenancy capability and can service multiple portals.


Forex brokers function very differently from other financial services providers. They need to interact with and engage thousands of traders on a daily basis. Plus, the CRM can prove invaluable in keeping track of the trading activities and journeys of individual clients. Once you’ve decided which features you are looking for, find a reliable, successful provider on the basis of reviews.

What to look for when you choose a CRM for your fx brokerage

As an illustration, we would like to share with you a recent case from one of our clients’ operations. Thanks to a well-configured withdrawal control system, the broker team noticed that something was wrong, quickly reacted to an unusual situation, and prevented a large-scale case of fraud. CRM system is an application software for managing strategies of interaction with clients. Since a Forex CRM system allows you to manage the whole cycle of customer relations, from one single point simply and effectively, it is obviously an important part of every business.

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