Attract Forex Traders with Language Localization
How brokerages can localize content to grow their business
As financial regulations continue to tighten, the need to offer forex services in other countries and to attract foreign investors is increasing. One way to ensure your forex firm is in a position to move into new markets is to make your website more friendly to users in other countries, from other cultures, and who speak other languages.
You do this with language localization. Language localization is sometimes referred to as i10n. It means making your website or app appropriate for audiences in different locations.
In this week’s blog, we’re covering how to localize a website in the forex space.
1. Implement a multi-lingual forex trader’s room.
Localizing your website is pointless if you aren’t prepared to actually offer your online forex trading services in other languages. Before you spend the time and money to localize your website, find a trader’s room software that is available in multiple languages.
CurrentDesk is currently available in 14 different languages.
2. Decide which locales you’ll target and what languages you need.
You don’t need to have your website translated into every language — two or three will probably cover all the traders you want to attract. So your first step in internationalization is to decide which languages you want your website to be in.
Consider both the language that the traders speak and the language that regulators speak. For example, you may want to target customers in Sweden, but plan to be regulated through Cyprus since it’s part of the European Union. In that case, you’d want your site available in Swedish for the best marketing and in Greek or Turkish to make it easier for regulators in Cyprus to review your site.
3. Research user preference in your selected locations.
In addition to changing the language on your site, you should consider the design of your website. Some cultures prefer more text and information on a page than others. Do some research about what traders in the regions you’re going into like in terms of web design.
You don’t need to do extensive research on this. A simple Google search for web design and the name of the country you want to target will give you a lot of information. If you want to see what forex firms’ websites look like in other countries, use a VPN to change the location of your IP address to the locale you’re targeting. Then, visit your competitors’ websites. You will be able to see what other forex websites look like in the areas where you want to attract traders.
If web design in the countries you’re targeting does include more information than your existing site, considering combining multiple pages into one so that your pages have more info on one screen but you don’t have to add more content.
When you have websites in multiple languages, you’ll need a separate URL for each country. The process of setting up those URLs and helping visitors get to the correct site is called geotargeting. You can read about how geotargeting works and how to do it in this article from SEMrush.
4. Have your website professionally translated.
Once you know which languages you want your forex site in and how it should look in different places, hire a translator.
You can hire a freelancer on sites like Fiverr or Upwork. This option is a good one if you’d like to develop a relationship with an individual who can work for you in the future. This can be especially beneficial if you can find a freelance translator that is familiar with forex or the financial industry.
Alternatively, you can also use a translation company. These are good if you’re looking for reliable translation without much back-and-forth. It might be slightly more expensive, but it could also provide a smoother experience. If you choose a professional service, make sure they provide a human translation, not one that’s machine generated. You can save money by using machine translations, but they will not sound as natural. Additionally, some search engines penalize sites that have been badly translated, meaning using a machine translation might make it harder for your site to show up in search results.
5. Go beyond the text.
Translating the text of your marketing website is one key piece of localization. However, you shouldn’t simply strive for a direct, one-to-one translation. The best localized websites adjust for cultural differences, not only different languages. Phrases and words that are appropriate for one location might be rude or otherwise inappropriate in another place. Make sure the translators that you hire are aware that you’re comfortable with some changes and adjustments.
Localization should also include changing what currency is displayed as well as how dates and times are written. If time, date, or currency information is shown on your website outside of the text the translator will change, make sure to use geotargeting to adjust those as well.
Localization is essential for moving into new markets in different areas of the world, especially if you plan to become a regulated entity in those areas. CurrentDesk can help you provide a multilingual forex trading tool.
If you’re planning to enter the Asian market, read our blog on other tools for success the APAC countries.