How Forex customer experience improvements can increase your deposits

July 16, 2020CurrentDeskBrokerage Growth

Enhance Forex client retention by focusing on the user experience of your sales funnels.

Website usability, also known as user experience (UX), is the foundation for defining how users interact with your Forex brokerage site.

Unfortunately, many Forex brokers underestimate the significance of website usability. They tend to prioritize specific design elements or content, resulting in heavy and cumbersome experiences that discourage engagement. To optimize lead generation and trader retention, it is essential for forex brokers to simplify customer experiences on their websites.

It is crucial that forex traders can easily identify calls to action and key messages. Most importantly, they should be able to seamlessly navigate from landing pages to sign-up forms without encountering time-consuming searches or difficulties. Your main UX goal should be to create a simple and logical flow that ensures a positive experience.

It’s important to note that simplicity doesn’t equate to boredom. By focusing on navigation, visual element placement, and clear calls to action, forex brokers can create engaging experiences that align with the everyday habits of visitors.

Now, let’s explore a simple website usability model that can be applied specifically to Forex websites. Additionally, we will provide some valuable user experience tips for Forex brokers to help you attract new clients and retain traders for longer.

Step 1 – Functionality, Accessibility, and SEO

In order to convert traders, you need to ensure that visitors can easily access your website and find the sign-up form. Analyze the accessibility of your website across all major operating systems, browsers, and devices. It is common for mobile visitors to have subpar experiences due to designs and functions primarily intended for desktop users. Therefore, it’s crucial to build a website that works universally.

Step 2 – Information Architecture

The information architecture of your website should be built upon two central pillars:

Placement of information on a page
Navigation through site links between content and pages

Engaging user experiences should feel intuitive to visitors and provide a seamless flow in how your site operates. Traders visiting your website should immediately know what they need to do next and how to get there. Your site should guide them, as people generally prefer not to guess.

Step 3 – Principles of UX

If you’ve followed the principles of step 1 and 2, the usability of your website should be working properly from a technical perspective at this point. However the on-page journey and user flow are the next topic to consider.

Let’s address these principles a bit more. For example, users should not be expected to have to guess whether an image or parts of the text are clickable. Standard web convention for clickable elements is to underline clickable text, provide a button, or mention a clear indication that they can click it.

Additionally, reduce the number of clicks a user needs to perform before reaching the desired end goal. The fewer clicks they need to make, the fewer dropouts you’ll experience.

Restrict design elements on a page and simplify lengthy content so that users understand your message. Provide simple CTA (Call to action) buttons and registration forms to make it easy to follow the desired steps in the funnel without confusion.

For example, a CTA should be a different color, clearly stand out from the other elements on the website and clearly communicate the message. Furthermore, registration forms should feel visually short and easy to fill in. As such you should require only information which is absolutely necessary at the time in order to complete the form.

Step 4 – Content Use and Forex CRMs

Content that addresses the needs of your users is essential. Before creating any content, it’s beneficial to develop user personas to identify the types of traders visiting your website. This understanding will help you tailor your content to answer their specific needs and questions effectively.

To provide a tighter content match for your ideal personas, personalize visual and written content before and after user login. Personalized experiences improve overall user experience for traders, keeping them engaged on your platform for longer.

To aid in personalizing content and communications, consider using a Forex CRM. Such a CRM can help you understand the client experience based on interactions with your advertising, client portal interactions, or trading activity. Here are two quick tips for leveraging a Forex CRM:

Use custom email templates tailored to user personas or specific events, adjusting the tone and information based on the trader’s stage in their trading journey. Provide educational or advertising material that aligns with their trading style.
Utilize your Forex CRM to facilitate tailored communications between your sales teams and traders by delivering personalized notifications. Pushing customized messages to traders via their client portal can enhance revenue-driving sales campaigns and exceptional customer service.

Step 5 – Forex Trader Conversion and Retention

We have now arrived at step 5. All the previous UX efforts were geared toward improving conversions and retention to increase your deposits and revenue. Conduct a thorough check of all the content on your site and run through user flows as if you were a trader. Assess each email template for tone and message, ensuring that persuasion tactics are implemented effectively. Focus on emphasizing topics such as pricing and the ease of making deposits.

An essential element for successful conversions is having a client portal that accepts various payment methods. Finding the right provider to offer API integrated payment options via your client portal can greatly simplify the deposit process for traders.

(At CurrentDesk, we offer over 100+ integrated payment methods which you can seamlessly offer in your client portal. We make it extremely easy for your traders to make deposits to your brokerage.)

How Forex customer experience improvements can increase your deposits