Your Forex CRM Needs Multi-Tier IB Functionality!

November 28, 2017by admin

The greatest challenge for any business, whether a global forex brokerage, a large bank, or a humble shop, is to find a way to differentiate their business in the eyes of their customers and define their value proposition. Finding the most effective ways to differentiate your brokerage business can be the difference between success in failure in the ultra-competitive online brokerage industry.

Given that almost the entire industry is built upon the back of one platform, MetaTrader4, it can be difficult for businesses to stand out. While offering new products, such as Bitcoin and other crypto-currencies, is one way to differentiate yourself from other brokerages, the majority of trading volume continues to be in the major FX pairs – it is unclear how effective this strategy is long term. Additionally, once a new price feed has been created and becomes popular, offering the product for your clients is mostly a “catch-up” to the competition exercise, and not a true way to differentiate your brokerage.

In our opinion, the area where you can most easily and successfully differentiate your brokerage business is in your Customer-Relationship-Manager (CRM.) This piece of software is frequently referred to as a Traders Area or Traders Cabinet.

Your Traders Cabinet is going to be one of the most important tools for your brokerage. This is the piece of software through which your clients can open accounts, handle deposits and withdrawals, update their account information, check balances, etc.

The Global Group Technology Traders Cabinet also gives your IBs the ability to generate unique account sign up links. IBs can register clients through their unique links, and the accounts will automatically be placed under the IB’s management in the CRM. Setting rebate/commissions schedules, and showing IBs their earnings in real time, is all very simple.

Additionally, the Global Group CRM allows you to setup “multi-tier” IB schedules. This type of business model is extremely important, especially in some of the fastest growing markets for FX, like Southeast Asia and China. In essence what this means is that your IBs an recruit IBs underneath them, who can then recruit more IBs, and so forth.

The Global Group CRM allows for customizable rebate/commission schedules within each tree. For example, you can have one IB who recruits two sub IBs, who are paid different rebates on their accounts. This allows for endless customization and gives your IBs the flexibility to recruit IBs and pay them according to what would work best for their business.

The Global Group CRM features unlimited tiers. In practice, most brokers don’t see the need for more then five at a time, but our system is built on customization and flexibility, we are here to meet your needs!

If you would like to schedule a demonstration of the CRM and see how it might work for your brokerage, please fill up the contact form today and one of our technology specialists will reach out to you ASAP!