• How to effectively manage the forex business?


Our clients often wonder why different technology providers offering solutions to start forex broker business based on the same White Label platforms shows such differences in prices. One of the primary factors influencing forex brokerage cost is the scope of the service and the number of technology providers you cooperate with. As we explain in our previous blog post (here) even if you find single cheapest products on the market, the sum of fees you’ll have to pay will always exceed the costs incurred by one provider to provide you with a comprehensive service. Not to mention the convenience of handling the technical aspects of your business – from the platform to payments – by just one partner.

White label platform is enough to start but not enough to succeed

Many people taking their first steps in the forex broker business assume that the lower the costs, the better conditions they will be able to offer traders. Consequently, this will translate into high interest. However, this is a wrong assumption for two reasons. First of all, with today’s competition in the market, most offshore forex brokers offer low margins at a very similar level. Second, and more importantly, clients who invest their funds expect safety and high-quality services. A broker who based their business solely on a White Label platform and manages clients using email confirmations and spreadsheets to keep track of deposits is very unlikely to retain loyal customers. Rarely will a serious trader want to wait a few days for the broker to credit their trading account. That is the problem that can be solved just by adding a simple Client Office app to your WL platform.

Start earning money as a forex broker

First of all, take care of credibility – the registered forex company (even offshore) will prove that your identity was somehow verified, combined with a professional website will significantly affect the quantity and quality of your clients. Everyone can become a forex broker, but not every broker will survive and make money. To calmly develop your business and not to worry about traffic on your platform, you need to attract as many loyal customers as possible who will regularly invest money. Of course, some investors will trade long term with higher deposits, but a low number of transactions and others will trade with smaller deposits but using ‘day trade’ strategies. Still, if you want to grow your profits it’s always best to keep loyal customers rather than having to attract new ones just to keep your business flowing.

Improved customer service to keep forex investors loyal

What will attract investors and make them want to invest on your platform regularly? High quality of services, which consists of several factors:

  • Advanced technology
    • modern trading platform, intuitive and user friendly but also has advanced analytical tools for professional traders.
  • The convenience of account management
    • investors will appreciate the ability to manage their trading account. Opening new accounts, transferring funds between them or one-click deposit or withdrawal without leaving the platform is definitely a pro to stick with a chosen broker for longer.
  • Fast service
    • investors expect broker service to be efficient and as dynamic as changes in the market. For many investors who prefer long term strategies with high deposits, the possibility of quickly topping up their trading account with additional funds to avoid an automatic closing of positions will be a deal-breaker.
  • Hassle-free payments
    • each broker must be prepared for clients from all over the world as it happens that one large client makes more turnover than everyone else in the local market. Besides, different customers prefer different payment methods. The problem with deposit payments will immediately discredit the broker in the eyes of the potential client.

How to effectively manage your forex business?

There are three pillars of the effective management of your forex broker business that will allow you to optimize your expenses and attract loyal customers.

  • Use Client Office forex CRM to manage your brokerage
    • It will allow you to automate most of the processes and improve the flow of customers on the platform, so you can focus on attracting investors.
  • Choose a Client Office / Trader Room with built-in Crypto payments.
    • It will allow instant deposits straight to a trading account, also giving your investors convenient payment methods using credit card or wire transfer. It is also the most cost-effective payment solution that works for clients around the world.
  • Keep your risk under control.
    • There are certain strategies allowing B-Book Brokers to manage their risk. Dedicated Risk management system will give you a proper analysis of clients’ performance, their risk profiles and will help you identify unprofitable clients. It will provide you with a whole picture of your Book and let you benefit from leading a hybrid model of liquidity.

To keep your brokerage business cost-effective look for a technology provider who offers all-in-one solutions. This way, you gain a partner who will take responsibility for the formal and technical preparation of your business and its long-term operation. When you buy various products in a package, you can count not only on their seamless integration but also lower fees.

What does the Client Office Forex CRM cost?

Your forex brokerage management system doesn’t have to be expensive. You can certainly count on the benefit of more loyal traders who will surely appreciate the high quality of service. Besides, all the amenities in the form of self-management of the account or automatic generation of registration links will also allow you to expand the Introducing Brokers network quickly. 

The cost of a Client Office may depend on the trading platform you’ll choose. Adding a CRM to the popular but older platform like MT4 will cost around $1500 for setup and about $1000 in monthly fees. But choosing a modern White Label platform like Match-Trader with built-in forex CRM can save you all the fees as you only pay for the platform.

We offer a ready-made forex broker business called Instant Broker solution, which will allow you to start your own broker business for as little as $5,000 with NO monthly fees.

What’s included in the Instant Broker solution offer?

  • Company registration
  • Trading platform (web, mobile & desktop) with embedded Trader Room
  • Client Office forex CRM for Broker
  • Effective payment solution
  • A-Book execution
  • And professional website with branded materials

Below we present how the broker’s income could look like with the growing amount of clients (at different stages of brokerage business) compared to a different amount of lots / performed trades. Having 100 clients generating five lots each, A-Book broker can earn $ 5,000 on average per month. This shows that your Instant Broker solution investment can return within a month, and you can start growing profits just two months from starting your forex business.

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