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. CurrentDesk partner Shift Markets provides starting brokerages 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 you tell us about Shift and your experience in starting Forex brokers? Shift Markets… read more →
It’s no secret South Africa is a rising star in the international forex market – a strong economy, favorable regulations and consistently good performance of the South African Rand (ZAR) internationally have brought its daily trade volume to around $72 billion as of April 2019. Additionally, the same BIS data shows a significant foreign interest in the South African Rand (ZAR), as more than 80% of exchange volume on ZAR is in the UK, US, and Japan. Locally, the South African market has opened up for IBs, since one of… read more →
It’s an unfortunate fact that the forex market – for sheer size, volatility and decentralization – can be very intimidating to would-be traders. As such, it’s important for your brokerage to show its legitimacy up front, and create and maintain a good reputation to keep business strong. The first and most important step in establishing credibility is to prominently display valid certification, licensing or membership with your country’s regulatory bodies on your website. If you’re targeting a particular international audience, make sure the information makes sense translated in their respective… read more →
