How to Choose the Right Forex CRM?

The days when a brokerage firm needed just to join the Forex market to achieve success are long gone. Due to the high level of competition, many newcomers leave this business wholly disenchanted. Don’t blame the market — Forex still opens new horizons for business owners. It all comes down to the attitude used by the company owner.

Forex CRM software is a crucial component of brokerage operations, but company owners usually underestimate its importance. With a plethora of businesses providing such a system, integrating one that completely fulfills your expectations and company demands is a somewhat difficult undertaking.

What is the purpose of such a system? CRM stands for “Customer Relationship Management.” In the Forex market, the range of a solution’s responsibilities is vast. Brokers integrate a trader’s room, back-office, and customer interface into a single entity. High-quality CRM systems offer unique features such as clustering of traders, a vast network of reports, automation of internal operations, staff optimization, and multiple access levels.

When it comes to their businesses, brokers are always plagued with doubts, searching for a strategy to grow their brokerage firms. Check out some advice that will help you select the best Forex CRM solution.

#1. Begin with customization and branding

When fresh brokerage firms enter the Forex market, reputation is one of the most critical factors to consider. Traders should have confidence in and respect for your organization.

Reputable companies give the highest level of personalization and branding in accordance with your company style. For example, B2Core allows business users to independently activate or deactivate widgets in order to tailor the system’s functionality to their specific requirements.

#2. The number of external integrations is never excessive

A great CRM system is the main benchmark for brokers; nevertheless, additional interfaces increase the solution’s capability.

B2Core, developed by B2Broker, a global supplier of liquidity and technologies, supports many integrations. Connect your brokerage firm to up to 80 payment providers, a variety of ticketing systems, and KYC providers to increase your firm’s efficiency and comfortability for traders.

External integrations may also help you optimize your team. B2Core manages the Sum-Sub solution for KYC verification — all procedures occur on the provider’s side, which eliminates the need for you to engage attorneys.

#3. The greatest level of security is always beneficial

When it comes to security features, new traders are commonly concerned. The greater the number of security choices accessible, the better.

CRM systems have specific security features by default – for example, B2Core supports Google and Nexmo two-factor authentication – and brokers may incorporate any additional specialized security features to safeguard traders’ accounts better.

#4. Referral programs as a visual representation of your achievement

At the start of a broker’s career, organizations are focused on attracting traders and retaining their loyalty. Meanwhile, the route to prosperity is constantly paved with new chances, and introducing brokers are one of the indicators of a successful firm.

While managing referral programs is not straightforward, high-level CRMs take complete control of the process. The software automates the management of invoices and bonuses, allowing brokers to create a multi-tiered referral network.

#5. The significance of changing trends

Forex CRMs are primarily developed for brokerage firms that allow traders to purchase and sell fiat currencies, although the market is undergoing significant changes. The crypto-assets market has become so large that financial institutions can no longer ignore it. Brokers are adding the ability to access cryptocurrencies, allowing traders to purchase some of the most highly regarded digital assets.

CRM solutions must be oriented towards innovation. B2Core supports both fiat and cryptocurrency wallets and provides built-in exchangers for businesses. This is why the solution seems ideal for both Forex and cryptocurrency dealers.

Note! A Forex CRM system is one of the most critical components of your brokerage’s success. Take your time comparing various packages and terms.

B2Core is a three-package solution that comes in three varieties: Standard, Advanced, and Enterprise, allowing company owners to choose exactly what they need. The solution grants access to key features, unlocks many external integrations, and enables the most extensive customization possible in order to conquer the new highs of the foreign exchange market.