Top 8 required aspects for a Forex CRM and Forex CRM Provider in 2020

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Not unexpectedly, the CRM software market is the world’s largest computer business with revenue projections of $80 billion by 2025. Almost every industry considers a robust CRM software a’ must-have,’ and forex brokerage is no exception. Learn about also who is the Forex CRM provider

With several players on the market, forex trading in today’s world is extremely competitive and challenging. It makes having an effective forex CRM not only important but conclusive. Your forex brokerage’s CRM now plays a key role in your brokerage’s performance.

What is CRM, particularly a forex CRM?

Customer Relationship Management (CRM) is a technology that enables you to manage all customer relationships efficiently in one place. This allows productive communications & leads management, a better understanding of consumer operations, which increases not only employee efficiency but also overall sales.

Since the forex trading market is purely data-driven and the data for each individual differs at different levels, a more intricate form of CRM begins.

Typically, a Forex CRM Provider knows the forex market, forex trading sites, various partners concerned, and the final solution. It helps such a vendor to build a forex CRM system that not only meets the broker’s requirements but also enables convergence at various levels critical to the performance of a forex brokerage.

Now that we’ve grasped what a CRM was and the need for a forex CRM, let’s mention a forex brokerage CRM’s top 8 apps.

Forex CRM Feature #1:

All-in-One Management Platform Your ideal forex CRM will manage data, client interactions, IB administration, marketing, and staff performance, all in one place, making it the go-to platform for anyone at any level of your organization (forex brokerage).

A perfect forex CRM provides you with a system API. It makes compatibility with existing tools like MT4/MT5, online and mobile trading sites, consumer cabinet/trader space, or any other 3rd party resource seamless.

Forex CRM Function #2:

Simplification of activities is the fundamental strength of any successful CRM. This is more than any other for your sales and marketing department.

First, the existing customer’s buying history, habits, and other demographics are available at one click. It helps the sales team to tailor their strategy to each client, providing cross-selling and upselling incentives that would otherwise be harder selling.

We can also see that marketing campaigns succeeded, replicate/promote them on one side while recognizing trends that decrease customer trust and remove them on the other.

For example, LaunchFXM CRM tracks lead directly from the landing page to the CRM starting a sequence of sales and marketing activities for that specific lead. The lead management system monitors all lead operations, including communications between the sales team and the potential client, allowing them to do their jobs better.

Forex CRM Function #3:

Multi-level Dealer Managing Revenue Share or Client Commissions can be difficult, particularly when managing several traders, money managers, clients, and other affiliates. This becomes slightly more complicated when associated with the same client set.

The LaunchFXM CRM was established in mind. This helps you to map, process, and break transactions to ensure the right person receives the correct amount.

The multi-tier franchise management system has a detailed database of all trades under each associate.

In addition, the role-based access function at the super-admin level enables you to identify access styles through administrators, managers, and other collaborators.

Lastly, a successful CRM helps you to encrypt details and even mask contact information from the sales team if the brokerage wishes while preserving confidentiality and guaranteeing data theft security.

Forex CRM Function #4:

Consumer Segmentation Converting contributes to revenue and a consumer is one thing, but maintaining them satisfied and faithful to your product is another tale. Segmenting consumers depending on their trade volumes or other considerations and establishing customized customer relationships is important.

A strong forex CRM would provide you a panoramic view of your client, allowing you exclusive knowledge of each customer’s market practices, strategies, profitability; encouraging the employees and the entire system to do their best to ensure that each consumer solution is tailored.

Forex CRM Function #5:

Dynamic Communications Monitoring A forex trading system combined with a CRM saves time and increases the agent’s end performance by reducing the need to toggle between apps and ensuring that the back end admin is always aware of events requiring immediate action on his / her side, minimizing downtime.

The LaunchFXM forex CRM provider helps you to plan assignments, callbacks, and follow-ups using the diary, meaning no client is left waiting. Therefore, all relevant information on one monitor helps the agent to make informed, effective decisions.

Good information management (from phone calls, video communication, messages, texts, PPC, and social media campaigns) in CRM also maximizes efficiency.

Additionally, a successful forex CRM’s effective data collection and streamlined software methodology reduces redundancy and encourages faster response time, leading to higher customer satisfaction.

Forex CRM Function #6:

Regulatory Technologies Because forex trading is a global market, various sets of regulatory compliance apply, based on where the brokerage resides. Anti-Money Laundering (AML) authentication and Know Your Customer (KYC) are the most relevant outside of traditional identity verification.

Since both include due diligence on the part of the brokerage, a forex CRM which recognizes these facets and combines with digital identity verification (eIDV) helps to achieve this task without any hassles.

Forex CRM Function #7:

Informative analysis features All information in CRM gives it a powerful tool that lets companies create better solutions by creating informative documents.

Seamless integration with MT4/MT5 trading platforms helps you to produce quick and reliable trading stats, trades, balances, leads, profits, dividends, and much more.

Since laws can change rapidly in the forex trading climate, exposure to all relevant documents is a key game-changer for brokerage.

Forex CRM Function #8:

Customization & White-labeling The CRM can be personalized to suit the product requirements including branding, color schemes, etc. to make the brokerage look more professional from the perspective of the client.

It can also be tailored by adding payment solutions, messaging software, email marketing/service providers, webinar resources, VoIP / Telephony, SMS and more. LaunchFXM delivers robust, easy-to-use, fully customizable forex brokerage-specific CRM.

These are just the top 8 in a forex CRM for your FX brokerage. There are several other features and advantages that render selecting a CRM for forex trading important for your forex brokerage.

LaunchFXM is a forex CRM provider provides services to small businesses and corporations. To better understand the exciting possibilities, access our consumer guide and request a free sample today!

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