Guide to Forex Back Office Software

Other customized support systems can also be integrated as per your requirements. Track client transactions, deposits, withdrawals, internal transfers, conversions, credits and fees in your dashboard. Know exactly how much profit you made in the last 24 hours with automated revenue reports indicating earnings from all your data sources and platforms. Get a brokerage focused financial back office to do the heavy lifting for you with a tailor made Forex CRM. Each back office software provider has its advantages and disadvantages. You need to consider your goals and objectives before deciding which one is right for you.

It becomes very crucial to have a good forex back office software to successfully operate your brokerage firm and fulfill the desired objectives. Keep track of each stage of the sales process and export detailed reports. For example, CurrentDesk also offers DisputeWatch, a tool that helps business manage the risk of client fraud. All the mobile, remote and table apps, along with desktop download links from the leading trading platforms can be added to our Forex CRM’s Clients Area, allowing incredible ease of use. Control information flow and account opening procedures using advanced intelligent risk detection filtering tools. Control compliance documents uploaded from the Traders Room using Workflow Engine.

Trading platforms

One of the most significant barriers to clients depositing money is a complicated or lengthy process for funding their accounts. Connecting your back office software to external payment systems (like credit card processors, crypto-currency wallets, and bank transfers) reduces the length of time it takes for deposits to be credited to client accounts. Look for a tool that can integrate with Skrill, SafeCharge, or NETELLER. 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. It should also include partner tools so that IBs can help their own clients.

Forex Back Office Software

This section is a combination of various flexible settings for connecting third-party services and applications. Other systems that can be connected to the Forex back office include various trading platforms, “KYC” service providers, rate providers, and various marketing services that help set up an advertising campaign. In general, back office software solutions have evolved with the advent of cloud-based software as a service (SaaS). With back-office software, brokers can extract actionable intelligence from the system without any particular expertise.

Features Involved

If the provider has a flat pricing scale, you may end up paying more than you need. Look at the company’s social media or website to see if they attend forex conferences like iFX and whether they set up booths at those conferences. If they have a blog or regularly post on social media, look to see if it indicates a solid understanding of forex brokers’ needs. Brokers that make and share software, on the other hand, have very few reasons to provide you with the tools you need to be a strong competitor.

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Forex Back Office Software

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. Every report you will ever need can be accommodated within your  Syntellicore Forex CRM. You may not have partners now, but if you want your firm to grow then the back office tools you choose should include features for managing IBs or money managers. Similarly, you may not plan to seek regulatory licensing immediately, but doing so in the future could help you expand your business into new regions.

B2Core: Manage your Business and Promote your Solutions Under One Roof

Also, each of the created groups has individual settings and is not limited in quantity. For example, you can distribute customers based on various margin settings, specialized market tools, commission percentages, and so on. Each user who will be part of a particular group will have precise settings and parameters that the trader will be able to track.

Our main objective at FX Meta Tech is to make sure that each one of our clients has the system they are in need of. FX Meta Tech provides total start-up solutions for a new Broker it forex back office software offers a number of additional rich features and other services. However, in the case of existing Brokers, we also have services & modules to maintain and improve their operations.

Industry-leading plаtforms Integrated

If a software provider actively engages with the forex industry, they’re much more likely to be aware of important changes to regulations. They’re also more likely to fully understand the specific pain points you face in your business. This means they’ll develop features to help you remain compliant and grow your business more quickly than a provider who doesn’t understand OTC forex trading. Since such solutions are quite expensive, before making a choice, you need to decide on the selection criteria. Moreover, as mentioned above, many Forex CRM systems already have back office functionality on board, so purchasing the CRM platform itself can be a more profitable option than just buying a Forex Back office. The majority of the features found within the leading Forex trading platforms can be used within our CRM.