Procedures for brokers Banks, brokerages, and other financial service organizations have an essential role in identifying money laundering and other financial crimes. Know your customer (KYC) and anti-money laundering (AML) regulations require brokerages to verify the identity of all their clients and ensure that they don’t accept money that was obtained illegally. KYC and AML activities are often time-consuming for brokers and frustrating for new clients. The verification process and related due diligence can be especially slow if you work with international clients. However, the right tools can help speed… read more →
Tips for FX brokers opening in unregulated markets Financial regulatory authorities around the globe have increased their oversights of forex brokers and put more rules into place in the past few years. In response, many brokers have chosen to open branches in countries where regulations are less strenuous. If you’re considering opening a new brokerage or setting up a subsidiary firm in a new location, you may want to look at less-regulated markets. Less-regulated markets There are countries where no financial regulations exist and countries where there are simply fewer… read more →
Tips for writing job advertisements for forex careers Finding good employees for your forex brokerage is an important task. Good employees help you attract new FX traders and retain existing clients. Searching for and hiring forex employees can be costly, so it’s essential that your hiring process be as efficient as possible. You’ll likely post ads online on job boards like Indeed. Keep reading for tips on writing job ads and some free templates for common roles. General tips Regardless of what role you need to fill, there are some… read more →
Common open source forex CRM pitfalls Open source software is software that you can change and share because the source code is available to you. By definition, open source software is free. However, a lot of CRM products claim to be open source even though their products don’t have true open source licenses. Remember, if you need to pay for the software, it’s not open source. Some open source software is excellent. It can help provide technology to non-profit organizations, schools, individuals, and even businesses. However, when it comes to… read more →
There are a few companies out there making forex CRMs and back office tools. Of course, we think CurrentBusiness is the best forex CRM available, but we know different firms have different needs. With that in mind, here’s a list of the things you should look for in a CRM provider.