<meta name=”convert leads into traders” content=”Utilize your CRM to convert leads into traders” /> Whether you manage your marketing in-house, or you work with a third party marketing firm, email marketing is a strategy you should include in your marketing plans. There is a lot of content expanding on the “why” businesses should be using email marketing, especially if they have a Forex CRM, so assuming that you do have one, and perhaps even have some target audiences in mind, let’s focus on what to… read more →
The “bread and butter” revenue of many Forex brokers comes from high trade volumes and long term retention of successful traders. There’s a clear interest, for you as a broker, to empower and retain traders however you can. We recently highlighted ideas for helping new traders, so here we’ll break down how brokers can tailor offerings and incentives to help and retain more experienced traders. You may define “experienced” trader by whatever metric makes most sense for your business; given the rapid turnaround rate of traders, this article will define… read more →
The first six months of a new trader’s experience with your brokerage are the most decisive; as we’ve previously reported, about 25% of new FX traders will quit in the first 46 days, and 50% will quit in the first six months. This high turnaround rate is a problem for brokerages, as attracting new traders can be seven times as expensive as retaining existing traders. Even if your brokerage is doing well with retaining traders, a reputation of supporting and building up new FX traders will pay off in the… read more →
Strong multi-account manager (MAM) tools are important for your brokerage, as they are an attractive way to onboard money managers into your business and boost your trade volume. Many traders like managed account programs because they want some or all of their investment to be managed by a professional forex asset manager. Some clients are also attracted to these programs because they can invest funds in multiple programs with different trading strategies in order to minimize their risk. So, to take advantage of a trader’s interest in managed accounts and… read more →
The forex industry presents exciting opportunities for the creative, risk-taking entrepreneur. Modern technology has made trading – and launching a new brokerage – more accessible than ever. In this blog we cover tips on how to best start forex brokerages. CurrentDesk partner Shift Markets provides starting forex brokers a launch package including customizable exchange software, licensing and regulation compliance, and 24-hour technical support. We recently got in touch with David Ramirez, a Sales Manager at Shift, to provide us with an expert insider perspective on starting a Forex brokerage. Can… read more →