7 Tips for Brokerage Firms Forex Client Retention With forex traders demanding tighter spreads and lower fees, it’s essential for your forex brokerage to be as efficient as possible. It can cost up to seven times as much money to attract a new client as it does to retain an existing client, so focusing on client retention is one way to increase your brokerage’s efficiency. If you’re looking to save money by keeping your existing forex clients, try these client retention strategies. 1. Talk about Forex success stories Keep traders… read more →
What to look for when you choose the best forex CRM for your fx brokerage A CRM (customer relationship management) tool is a key part of a forex broker’s business. Forex CRM software enables fx brokerages to offer clients excellent customer service and manage IBs and other partners. The best CRMs for forex brokers are more like a complete broker management system, including back office tools, partner portals, and a traders’ room. We’re a little biased towards our own software, CurrentBusiness, but no matter what FX CRM you choose, make… read more →
How to protect your business from financial fraud Client risk analysis The first step in preventing financial crimes against your business is learning to identify risky transactions and clients. There are several ways to determine whether a customer presents a larger risk. For example, customers from specific regions may be more likely to commit fraud. Many risk analysis experts use the number of chargebacks in a country to estimate the worst regions for fraud. Chargebacks often indicate that many merchants or payment processors haven’t adopted fraud prevention tools. Recent research… read more →
Events for the forex, equities, and gaming industries Going to conferences and other events Conferences, trade shows, and other professional events give you the chance to network, market your brand, and learn about new industry trends. These events are especially important if you’re in forex or equities trading or the online gaming industry, because technology has increased the speed of change in these sectors. To be successful, it’s important to attend professional conferences. You have a lot of choices when looking at conferences and networking events for forex and equities… read more →
How sharing information prevents client fraud Proactive enterprise risk management Financial crime can impact your businesses in a variety of ways, including credit card chargeback fraud, latency trading, and bonus abuse. You can choose a fraud detection tool that alerts you after a fraudulent transaction has occurred or one that raises flags before your company is a victim of a financial crime. Fraud databases, like DisputeWatch in the financial industry or Perseuss in the travel industry, are risk assessment tools that help you prevent fraud before it happens. Proactive tools… read more →
