A good Forex CRM is the heart of a retail brokerage and is a vital tool for the optimal functioning of any business. With today’s increasing competition and industry demands, operating a brokerage is tougher than ever when it comes to taking care of your clients needs. A brokerage needs to differentiate itself to succeed and implementing a good CRM will help avoid falling into the trap that some retail Forex brokerages have due to their inability to retain traders. A Forex CRM is therefore a main consideration for a professionally run business, enabling you to efficiently handle all your clients needs and one which will ultimately help you get the edge over your competitors.

A Forex CRM is the central part of your customer database and enables a brokerage to understand the requirements of their traders. With a vast range of functions including reporting, a CRM uses analysis to offer suggestions on how to interact with them. The data held and used for the purpose of reaching business objectives effectively will include that from phone calls, emails, live chat and social media campaigns, for example, as well as other information about deposits and withdrawals in order to obtain more leads. A more personalised customer experience also increases conversions. CRM systems can usually be integrated with several trading platforms including MT4/MT5.

Increasing competition in the industry means that there is a requirement for a purpose-built platform that is especially designed to meet the precise demands of the Forex industry. There are many CRMs on the market but when running a Forex business, it is important to choose one that is able to specifically handle this kind of work. Given the increasing competition demands in the Forex trading industry and stricter regulations and requirements for KYC/AML that are now in force, it is vital for a brokerage to use a purpose-built Forex CRM like B2Core, a package-based solution that can be built and adapted according to your specific needs.

There are several reasons why brokerages need a Forex CRM. They perform many functions including simplifying compliance, removing manual workload and ensuring a brokerage is operating effectively at all times. Implementing a good Forex CRM means that your team can instead focus their efforts on increasing business profit rather than manually processing leads, documents or checking over reports by hand. With B2Core, your teams are able to automate time consuming tasks thereby speeding up the sales process, so you can process and deal with clients more quickly and efficiently. A good Forex CRM also incorporates a range of useful tools to assist in this process including trading analytic and reporting tools.

A CRM is a sophisticated business support system that all brokerages must have in the highly competitive Forex marketplace. The functions and tools that come with it help companies retain clients and improve their business operations. Since an effective CRM software greatly impacts your business operations, it is important to choose one that is right for your business. Factors to consider are ease of implementation, flexibility of the system, usage across a wide range of web-enabled devices, an extensive range of reporting features, and above all, a system that is highly customisable. Because CRM software significantly affects your success, you should devote significant effort and budget for this purpose.

Choosing a CRM system is an important decision and a key factor in determining the success of your business. Anyone serious about building a profitable business is strongly advised to take into account 5 important requirements that will ensure that you arrive at a best-fit solution for your specific business:

• Easy to implement
• Flexibility
• Cross-Platform usage
• Reporting Tools
• Highly Customisable.

When it comes to comparing different solutions that may be suitable for your business, this checklist will prove invaluable for ensuring you make the correct decision while getting the best value for money with your chosen solution.

A Forex CRM is core to your business operations and because of data stored, it is easy to email your clients and further promote your brand. It is a very effective way to acquire new leads and a relatively inexpensive way to do so since you already have the marketing tools in place to do it. A good CRM like B2Core will have in-built email functionality enabling you to send emails quite easily, get leads and nurture them so that they convert into clients. Email marketing has become a vital source of communication for modern day businesses and the importance of this tool in the Forex industry cannot be overstated. B2Core CRM offers an extensive range of email marketing capabilities, enabling you to capitalise on your CRM investment.