A dedicated KYC management system helps brokers collect, verify, and manage customer identity information as regulatory authorities require. You will no longer need to store or access data through other platforms to understand your own business. Syntellicore is fully integrated with Zendesk, keeping all communication with potential and existing customers made through Zendesk Chat, consolidated into each customer’s record. The brokerage firm can analyse the history of communication with clients from all members of the team, be it by phone, chat, email and ticketing. Generate various valuable reports using the advanced configurable Reporting Tools provided. Use rich and fully customizable dashboards to visualize comparisons, manage risk and compliance, view patterns and trends in sales, as well as in marketing.
Your back office software should let you create trading account groups that connect to the trading platform. This connection will enable you to establish fees, commissions, and rebates within your software so that reports and payments are more accurate. If your forex firm works with introducing brokers (IBs), then your back office software needs to allow you to calculate and pay partners commissions and rebates. Allowing partners to directly access your software will make it easier for them to do their jobs, and using the software to ensure they’re paid the correct amount will help you retain good IBs. In this part, we gather common questions about Forex back office trading software providers.
Also, many Forex CRM providers offer a mobile version of their CRM software to give clients access to all the features in a portable and convenient format. For over 10 years, it has been creating software of different levels of complexity to meet the most demanding requirements. This solution provides Forex brokers and exchanges forex back-office software with convenient access to detailed information about their clients, administrators, and business partners. It supports Android, iOS, Windows, and MacOS platforms, making it a truly multifunctional system. The Forex industry is heavily regulated, and brokers must adapt to strict guidelines to maintain their licenses.
Forex back office software has an extended range of various useful functions that allow you to flexibly configure numerous parameters related to clients, their verification, reporting, etc. Let’s consider below the key functions that can be found in the FX back office solution. Front office is the part that directly interacts with users, and back office is the technical part of the platform with which users do not interact. Seasoned copywriter with a focused expertise in crypto and fintech, adept at translating complex industry jargon into clear, engaging content.
We have researched some common solutions types in the market, and also presented the advantages and features of providers for Forex Trading. MT5 allows users to follow a signal of a trader and automatically reproduce all their trades on the user’s account. Users can choose from hundreds of signals filtered by risk and profitability and the MT5 system will automatically trade for the user. This module allows you to create a system of referral connections or an affiliate network. Each trader can become a partner and connect other partners to the network to trade and receive commissions from the spread difference. This module allows you to upload all the necessary information that is somehow related to the affiliate program, keep records on the number of partners, and also access the data of the partners themselves to analyze their activities.
- The ability to attract new clients and retain existing ones largely determines a brokerage’s success.
- On the other hand, using a CRM system can not only help you better manage your existing customer base, but also to organize your brokerage business processes and even prompt you to create your own CRM solution.
- A CRM system is a part of the back office system that specifically focuses on managing client interactions.
- While the backend user’s eyes are not on the dashboard, push notifications bring backend users to action important client related pending tasks promptly, trimming down the wait time.
The software should let you generate reports around trading activity, earnings and losses, deposit amounts, and CDF dividends. Those reports can help you determine how to best market to and re-engage existing clients. The software should also record all the activities of partners and other administrative users so that you can track their work. B2Core, one of the most sophisticated business Forex CRM systems available, provides Forex brokers and exchanges with easy access to information about their clients, administrators, and independent business partners.
CRM tools have become a breath of fresh air for many FX companies today, which have thousands of clients all over the world using their products or services. Among other things, this CRM tool allows you to connect different trading platforms including MetaTrader 4 and 5, as well as integrate different services that offer payment processing. This solution is available at a very reasonable price and may be ideal for beginners who want to try the product and understand how Forex CRM systems work and are structured.
The company also offers access to an IB and affiliate portal, as well as a percent allocation money management system (PAMM) and a B2B help desk. In general, back office software solutions have evolved with the advent of cloud-based software as a service (SaaS). Forex CRM platforms with back office software have become, for the brokerage companies, an alternative to Business Process Outsourcing (BPO), which involves transferring back office management to a third-party service provider. With back-office software, brokers can extract actionable intelligence from the system without any particular expertise. It offers an interface where traders can conduct trades and monitor the Forex market in real-time.
When it comes to online trading, back office trading software providers offer a comprehensive package of services that can save you time and money. To choose the best Forex Back Office Trading Software provider, it is important to select one with a proven track record of success. Also, make sure that the back office trading software provider offers a transparent pricing model and top-quality customer support. Leverate is a software developer for Forex brokers to organize trading on the Forex market. Leverate’s product line also includes many additional programs and services, which help coordinate full-service brokerage operations.
Now, let’s talk about some of the industry’s best back-office systems for Forex brokers. Security – Given the sensitive nature of the data handled by a back-office system, robust security features are non-negotiable. The system should adhere to the latest data security standards to protect your and your client’s data.
The back-office is assimilated to your business needs, making it an easy-to-manage tool. Although KYC requirements may be the most common regulatory rule, there are many others that your firm https://www.xcritical.in/ must fulfill if you are licensed with a regulatory authority like FCA, ESMA, and CySEC. Forex back office software is an excellent solution to the challenges or regulatory requirements.
In Forex, an IB (Introducing Broker) is an individual or an organisation that introduces new clients to a Forex brokerage. In return, the IB receives a commission from the broker for each trade made by the referred clients. The ability to attract new clients and retain existing ones largely determines a brokerage’s success.
Driven by my mission to illuminate the intricacies of the crypto and fintech industries, my commitment is to create and deliver content that educates, engages, and empowers. I strive to foster understanding, inspire confidence, and catalyze growth in these dynamic sectors, contributing to the forward momentum of our digital financial future. The back office – a system offering customer management, validation checks, and a support ticket system with various valuable features. Customer Support – Lastly, consider the level of customer support provided by the back-office system provider.