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Choosing a CRM Solution for a Forex Broker

24 September 2020, 14:09

For Forex companies, as for any successful business, the client is the absolute top priority.

Meanwhile, a CRM is, first of all, an automated system for effective customer relationship management.

Accordingly, the correct choice of CRM is essential for any Forex company.

The main objectives of Forex companies in 2020 are the ability to retain traders and provide quality services. The specifics of this business suggest that in order to successfully approach this task, you need to use a CRM, designed specifically for working with the Forex market.

Today there are many companies that offer CRM systems for Forex related activities. These include B2broker, Dynamic Works, Fx Back office, Proftit CRM, Impact CRM, Adenasoft, Itsexys, Archer CTS, etc.

Large Forex companies can develop a CRM on their own. But if it’s not an option for you, the easiest and most effective way to choose the most suitable system is to use a specialized CRM aggregator for Forex such as Finarm.com.

Even when you clearly see all of your options, you should understand how to evaluate them. So, what are the main criteria for choosing the most suitable CRM for Forex?

  • A good quality CRM should collect the maximum amount of customer data.
  • A modern CRM for Forex must also process this data efficiently, which implies built-in machine learning (ML) and deep learning (DL) elements.
  • The CRM should have full control and the ability to analyze data on deposits and withdrawals, as well as on any other transactions. It should also be possible to combine this data with advertising and PR campaigns.
  • Another important element is the compatibility of the selected CRM with the Forex broker’s trading platform. Leading CRM developers for Forex offer system integration with several of the most popular platforms.
  • For many users, the decisive factor is the interface of the CRM system, which should provide all the necessary information on one screen. Displaying all client activity on the screen along with personal information, marketing information, audit results, KYC / AML statuses allows you to increase the efficiency of the company manager.
  • The management team of the company should be able to obtain the information necessary to build managerial accounting strategies. A CRM for Forex should form a big picture of the business with profit and loss statements, revenue and key metrics trends.
  • At the same time, a CRM-system for Forex should work absolutely flawlessly and ensure the highest level of data security.
  • Ideally, a good CRM should also have import and export of data from other systems so that your Forex company could analyze the best solutions in the market.

Thus, if you want to choose a high-quality CRM for a Forex company, focus on the solutions provided by the leading developers, objectively consider the above-mentioned criteria, and the general needs of your business.