Top 10 CRM Features for a Retail Forex Brokerage

Running a retail Forex Brokerage is a challenging process. It is natural to focus on your biggest clients with the most profitable accounts; however, time shows that only focusing on the largest participants should not be your sole priority.

Running a retail Forex Brokerage is a challenging process. It is natural to focus on your biggest clients with the most profitable accounts; however, time shows that only focusing on the largest participants should not be your sole priority. At the same time, focusing on all clients is very tedious and does not provide a significant return right away.

Solving this challenge involves implementation of a Forex CRM into your website, Trader’s Cabinet, and Operations.

Here is a list of features that should be considered when choosing a Forex CRM for your Brokerage.

Ease of Use

For any Forex CRM to work for your Brokerage it needs to be used to its full potential. There are a lot of systems on the market that are constructed around hundreds of confusing features. Pick a system that has the best balance between features and ease of use.

Combined Forex Brokerage Operations and Sales

One of the ways to encourage the use of the Forex CRM is to combine the Sales and Operations sides of the business. This way Agents are constantly engaged and the CRM gets used. This is also one of the most challenging issues with using a CRM that is NOT a Forex CRM.

Use of Landing Pages

Not all CRMs allow for integration of Forex Web-to-Lead calls. Ease of web-to-lead integration will boost your marketing efforts as it will allow for more options.

Forex Reports

While CRM Reports are common across many CRMs, the ability to combine Forex Reports and CRM Reports can provide unparalleled insights into your business.

Triggers

The ability to create an event trigger based on a report. Automated trigger procedures will allow automation that is needed for trader and IB retention.

Email Integration

The best way to keep the Agents inside of the CRM is to have email accessible within the CRM. It saves time and keeps the Brokerage engaged.

Compliance Operations

KYC is a simple but vital part of operations. The CRM needs to be able to track the documents expiration and create recurring events.

Flexibility for Customizations

No CRM is complete. The ability to implement customizations on demand is vital for operations.

Payments and Risks

Payment processing carries a certain amount of risk. Payment Gateways like NinjaCharge can provide risk tools. For example, suspicious transactions will not get posted to the trading account till approved inside your Forex CRM.

Affiliate and Multi-Level Sales

KYC is a simple but vital part of operations. The CRM needs to be able to track the document’s expiration and create recurring events.

Compliance Operations

This feature deserves a whole separate post at some point. If your system supports Forex Affiliate Logic, there are multiple new marketing strategies that have become available, from the implementation of call centers to empowering your IBs to take part in your Sales and Operations.

When making your decision regarding the Forex CRM, focus on flexibility and simplicity, and avoid focusing on any one feature. When choosing a CRM, have a specialist show and tell you about its full potential. Avoid pre-recorded demos or self-study.

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