7 things you don’t want to miss that your B2B competitors are already doing

Adinah Brown

“Offering both front end interfaces and back office support, an all in one trading solution helps to keep matters extremely simple. Taking out time consuming administrative tasks, a comprehensive trading solution allows you to focus on the task of building your brokerage” – Adinah Brown, Leverate

By Adinah Brown, Leverate

In recent months we’ve seen evolutionary changes in the financial trading industry; regulations have tightened as competition has become more prolific, which in turn has caused profit margins to be tight and conversions to be tough.

While undoubtedly many brokerages are going to feel these “growing pains” in the short term, at Leverate, we are confident that the long term outcome of these developments will see a maturing of the industry, that preserves its reputation and builds its legitimacy.

To stay afloat during this more tumultuous period, brokerages must have an operational framework that is lean and agile. In this article we present you with some best industry practices that are currently being used by top performing brokerages. While you may already be practicing some, it may be useful to check off whether you are practicing them all.

  1. Use of an all in one trading solution

Offering both front end interfaces and back office support, an all in one trading solution helps to keep matters extremely simple. Taking out time consuming administrative tasks, a comprehensive trading solution allows you to focus on the task of building your brokerage. A good set up solution should provide brokerages with an express setup for instant licensing and ensure that its programs continue to meet regulation requirements.

  1. Good Risk management

Your risk management system needs to have the ability to process an enormous number of trades simultaneously. By having a robust dealing desk in place, you can control your risk by defining optional auto-coverage rules, minimize rejections, delays and your brokerage’s overall risk exposure.

  1. A Strong IT Department

Don’t underestimate the value of an advanced technology and support system that is needed to facilitate the operation of thriving brokerage. A hyper redundant datacenter, with full high availability, will allow for advanced computing, network and data storage capability, all the while keeping business continuity as its top priority.

Most importantly, a strong IT department will facilitate an extremely fast and accurate data feed, that will ensure a greater level of customer satisfaction. The live feed should deliver arbitrage-free and spike free rates for a broad spectrum of different instruments, be it Forex, CFD’s, Indices, Commodities, Stocks and Futures.

  1. Service team of trained professionals

An existing client is always more valuable than a new customer, and if you are going to allocate your resources, it needs to be on prioritizing the satisfaction and developing the loyalty of those who are already comfortable with using your brokerage.

This is achieved by having a well trained and well supported team of customer service professionals. Give your service team the knowledge and skills that will enable your brokerage to outperform your competition. Provide your sales and retention staff with useful educational resources which they can then provide to their traders. Furthermore, create a positive atmosphere with a high office moral and your clients will be the ones to thank-you.

  1. Automating the Conversion process

Automating the conversion process of your brokerage reduces the demand on marketing resources and makes client conversion much simpler. An automated conversion tool will give you the means to drive traffic to your website through your marketing campaigns, convert traffic into leads and then enable an effective and efficient process of converting those leads into customers.

Incredibly useful, an automated marketing conversion tool supports you in clearly defining your marketing goals and then facilitates the process of pushing prospects through the marketing funnel. A good automation tool should enable you to create appealing landing pages, properly segment your audience for highly targeted campaigns, promote each campaign to prospects at the relevant stages and then measure, monitor and optimize the results.

  1. Mobile trading apps

The future is undeniably moving towards mobile, with clients increasingly trading whilst on the go. To stay competitive, a brokerage needs to have an advanced trading system with the portability of an easily downloadable mobile application to service this growing demand. The mobile app should be consistently branded with the brokerage’s colors and logo, whilst also adaptable to a variety of systems, be it iPhone, Android and HTML5 compatible.

  1. Social Trading platform

Another trend in the forex market is the move towards social trading. Many trading novices like breaking into forex by using a social platform as it allows them to develop their trading skills and temperament whilst relying on the knowledge and expertise of those significantly advanced. Instead of having to immediately rely on their own ability, they can simply copy more advanced traders and still achieve good results.

If you are going to provide a forex social trading platform, you have to ensure that it has EU regulation compliance and that it is comprehensively integrated into your existing platform. A quality social trading platform will enable your clients to implement market decisions from a wide range of indicators that use a transparent, real time, social data feed of all the users in the social trading network.  

 

 

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<